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Assessing Competition with the Panzar-Rosse Model: The Role of Scale, Costs, and Equilibrium

Bikker, Jacob; Shaffer, Sherrill; Spierdijk, Laura - de Nederlandsche Bank - 2009

costs and market equilibrium. Our theoretical findings are confirmed by an empirical analysis of competition in banking …

Persistent link: https://www.econbiz.de/10008475760

Card acceptance and surcharging: the role of costs and competition

Jonker, Nicole - de Nederlandsche Bank - 2011

influences total demand. Survey data of Dutch merchants shows that costs, and competition affect acceptance as well as … their customers for using them. Merchants who face any competition accept debit card payments relatively more often than … merchants with monopoly power, and they are less likely to surcharge their customers for debit card usage. Intense competition …

Persistent link: https://www.econbiz.de/10009144149

Sticky Prices in the Euro Area: a Summary of New Micro Evidence

Álvarez, L. J.; Dhyne, E.; Hoeberichts, M.; Kwapil, C.; … - de Nederlandsche Bank - 2005

This paper presents original evidence on price setting in the euro area at the individual level. We use micro data on consumer (CPI) and producer (PPI) prices, as well as survey information. Our main findings are: (i) prices in the euro area are sticky and more so than in the US; (ii) there is...

Persistent link: https://www.econbiz.de/10005021824

Microfoundations of Two-sided Markets: The Payment Card Example

McAndrews, James; Wang, Zhu - de Nederlandsche Bank - 2007

empirical predictions and is less dependent on a particular form of imperfect competition than other approaches. Our findings in …

Persistent link: https://www.econbiz.de/10005021829

Must-Take Cards and the Tourist Test

Rochet, Jean-Charles; Tirole, Jean - de Nederlandsche Bank - 2007

Antitrust authorities often argue that merchants cannot reasonably turn down payment cards and therefore are forced to accept unacceptably high merchant discounts. The paper attempts to shed light on this must-take cards view from two angles. First, the paper gives some operational content to...

Persistent link: https://www.econbiz.de/10005021836

Credit in a Tiered Payments System

Lai, Alexandra; Chande, Nikil; O'Conner, Sean - de Nederlandsche Bank - 2007

Payments systems are typically characterized by some degree of tiering, with upstream firms (clearing agents) providing settlement accounts to downstream institutions that wish to clear and settle payments indirectly in these systems (indirect clearers). Clearing agents provide their indirect...

Persistent link: https://www.econbiz.de/10005021840

Price Setting Behaviour in the Netherlands: Results of a Survey

Hoeberichts, Marco; Stokman, Ad - de Nederlandsche Bank - 2005

competition a firm faces, the stickier a company's price will be. Furthermore, we find that wholesale and retail prices are more …

Persistent link: https://www.econbiz.de/10009319249

The Pricing Behaviour of Firms in the Euro Area New Survey Evidence

Fabiana, S.; Druant, M.; Hernando, I.; Kwapil, C.; … - de Nederlandsche Bank - 2005

This study investigates the pricing behaviour of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms. The results, robust across countries, show that firms operate in monopolistically competitive markets, where...

Persistent link: https://www.econbiz.de/10009320229

Pension funds' asset allocation and participant age: a test of the life-cycle model

Bikker, Jacob A.; Broeders, Dirk W.G.A.; Hollanders, … - de Nederlandsche Bank - 2009

This paper examines the impact of participants' age distribution on the asset allocation of Dutch pension funds, using a unique data set of pension fund investment plans for 2007. Theory predicts a negative effect of age on (strategic) equity exposures. We observe that pension funds do indeed...

Persistent link: https://www.econbiz.de/10008475763

Being a Foreigner among Domestic Banks: Asset or Liability?

Claessens, Stijn; Horen, Neeltje van - de Nederlandsche Bank - 2009

from a high income country and when competition in the host country is limited. They also perform better when they are …

Persistent link: https://www.econbiz.de/10008480963