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The effects of usury ceilings on consumers welfare : evidence from the microcredit market in Colombia

Capera Romero, Laura - 2021

Interest rate caps, also called usury ceilings, are a widely used policy tool to protect consumers from excessive charges by loan providers. However, they are often cited as a barrier for the advancement of financial inclusion, as they may reduce the incentives to provide loans to lower-income...

Persistent link: https://www.econbiz.de/10012591585

Market structure and the pricing of new products : a nested logit approach with asymmetric firms

Bleker, Sylvia; Behrens, Christiaan; Koster, Paul; … - 2014

This article investigates competition in a market with an emerging technology using a discrete choice model to analyze demand and welfare. We focus on industry structure and investigate the impact of different market structures on demand for the new technology and on welfare. The car market...

Persistent link: https://www.econbiz.de/10010421763

Asymmetric price responses of gasoline stations : evidence for heterogeneity of retailers

Faber, Riemer P. - 2009

This paper studies asymmetric price responses of individual firms, via daily retail prices of almost all gasoline … the stations respond asymmetrically to changes in the spot market price. Hence, asymmetric pricing is not a feature of the …

Persistent link: https://www.econbiz.de/10011379452

State-aided price coordination in the dutch mortgage market

Dijkstra, Mark A.; Schinkel, Maarten-Pieter - 2019 - Revision: July 2019

This paper shows how price leadership bans imposed, as part of the European Commission's State aid control, on all main … mortgage providers but the largest bank shifted the Dutch mortgage market from a competitive to a collusive price leadership … full percentage point above the Eurozone average. We derive equilibrium best-response functions, identify the price leader …

Persistent link: https://www.econbiz.de/10011979609

Winning by losing : evidence on overbidding in mergers

Malmendier, Ulrike; Moretti, Enrico; Peters, Florian - 2011

Persistent link: https://www.econbiz.de/10010191090

The political economy of financial systems

Haber, Stephen H.; Perotti, Enrico C. - 2008

This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...

Persistent link: https://www.econbiz.de/10011374399

Bank ownership and financial stability

Perotti, Enrico C.; Vorage, Marcel - 2010

We study a politician's choice for state or private control of banks. The choice trades of lobbying contributions against social welfare, weighted by political accountability.Politicians facing few constraints prefer state control to maximize their rents. As state banks are less efficient, at...

Persistent link: https://www.econbiz.de/10011380029

Lobbying on entry

Perotti, Enrico C.; Volpin, Paolo - 2004

We develop a model of endogenous lobby formation in which wealth inequalityand political accountability undermine entry and financial development. In-cumbents seek a low level of effective investor protection to prevent potentialentrants from raising capital. They succeed because they can...

Persistent link: https://www.econbiz.de/10011338011

Aggregate risk and efficiency of mutual funds

Kucinskas, Simas - 2015

I analyze welfare properties of mutual funds in the Diamond-Dybvig model with two sources of aggregate risk: undiversifiable interest rate risk and shocks to aggregate liquidity demand. Mutual funds are inefficient when the economy faces undiversifiable interest rate risk. However, if only...

Persistent link: https://www.econbiz.de/10011339154

Risk diversification by European financial conglomerates

Slijkerman, Jan Frederik; Schoenmaker, Dirk; Vries, … - 2005

We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and insurers differs, an interesting question from a supervisory point of view is the risk reduction that derives from diversification within large banks and financial...

Persistent link: https://www.econbiz.de/10011346454

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