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Who bears the welfare costs of monopoly?the case of the credit card industry

Herkenhoff, Kyle; Raveendranathan, Gajendran - 2019

How are the welfare costs from monopoly distributed across U.S. households? We answer this question for the U.S. credit card industry, which is highly concentrated, charges interest rates that are 3.4 to 8.8 percentage points above perfectly competitive pricing, and has repeatedly lost antitrust...

Persistent link: https://www.econbiz.de/10012147023

Spatial versus social mismatch : the strength of weak ties

Zenou, Yves - 2011

The aim of this paper is to provide a new mechanism based on social interactions explaining why distance to jobs can have a negative impact on workers' labor-market outcomes, especially ethnic minorities. Building on Granovetter's idea that weak ties are superior to strong ties for providing...

Persistent link: https://www.econbiz.de/10009230715

Migration networks and location decisions : evidence from U.S. mass migration

Stuart, Bryan A.; Taylor, Evan J. - 2019

This paper studies how birth town migration networks affected long-run location decisions during historical U.S. migration episodes. We develop a new method to estimate the strength of migration networks for each receiving and sending location. Our estimates imply that when one randomly chosen...

Persistent link: https://www.econbiz.de/10012127192

The effect of social connectedness on crime : evidence from the Great Migration

Stuart, Bryan A.; Taylor, Evan J. - 2019

This paper estimates the effect of social connectedness on crime across U.S. cities from 1970 to 2009. Migration networks among African Americans from the South generated variation across destinations in the concentration of migrants from the same birth town. Using this novel source of...

Persistent link: https://www.econbiz.de/10011993427

Cultural diversity, geographical isolation, and the origin of the wealth of nations

Ashraf, Quamrul; Galor, Oded - 2012

This research argues that variations in the interplay between cultural assimilation and cultural diffusion have played a significant role in giving rise to differential patterns of economic development across the globe. Societies that were geographically less vulnerable to cultural diffusion...

Persistent link: https://www.econbiz.de/10009530812

Rainfall risk and fertility : evidence from farm settlements during the American demographic transition

Grimm, Michael - 2016

farm and non-farm households within counties and over time. The results suggest that increased rainfall risk does indeed … shows that this effect is reduced if risk management devices such as irrigation systems, formal financial institutions or … machinery emerge. The findings contribute to the understanding of the demographic transition in the US and in risk-prone areas …

Persistent link: https://www.econbiz.de/10011580904

Does electricity drive structural transformation? : evidence from the United States

Gaggl, Paul; Gray, Rowena; Marinescu, Ioana; Morin, Miguel - 2020

Electricity is a general purpose technology and the catalyst for the second industrial revolution. What was its impact on the structure of employment? We use U.S. Census data from 1910 to 1940 and measure electrification with the length of higher-voltage electricity lines. Instrumenting for...

Persistent link: https://www.econbiz.de/10012213897

Experts' awards and economic success : evidence from an Italian Literary Prize

Ponzo, Michela; Scoppa, Vincenzo - 2015

Product quality is often unobservable ex-ante and consumers rely on experts' judgments, sometimes in the form of ratings or awards. Do awards affect consumers' choices or, conversely, are they conferred on the most popular products? To disentangle this issue, we use data about the most important...

Persistent link: https://www.econbiz.de/10010469022

Does greater inequality lead to more household borrowing? : new evidence from household data

Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - 2014

One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higherincome households. Using household level data on...

Persistent link: https://www.econbiz.de/10010238213

Consumer loan response to permanent labor income shocks : evidence from a major minimum wage increase

Güney, Ethem; Hacihasanoglu, Yavuz Selim; Tumen, Semih - 2017

We investigate the impact of a substantial minimum wage increase, which became effective in January 2016, on consumer loans in Turkey. Using bank-level data and designing an original identification strategy, we ask whether the loans provided by banks with a historically high share of low-wage...

Persistent link: https://www.econbiz.de/10011647652

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