Showing 1 - 10 of 458
This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms...
Persistent link: https://www.econbiz.de/10012977841
We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are … exerting a positive effect on competition. These results suggest that incumbent firms are likely to enjoy the rent and market …
Persistent link: https://www.econbiz.de/10012918554
It takes many years for more efficient electronic payments to be widely used, and the fees thatmerchants (consumers) pay for using those services are increasing (decreasing) over time. Weaddress these puzzles by studying payments system evolution with a dynamic model in a twosidedmarket setting....
Persistent link: https://www.econbiz.de/10012888773
We study credit card rewards as an ideal laboratory to quantify redistribution between consumers in retail financial markets. Comparing cards with and without rewards, we find that, regardless of income, sophisticated individuals profit from reward credit cards at the expense of naive consumers....
Persistent link: https://www.econbiz.de/10014350471
We analyze the impact of monetary policy on consumer spending using credit card data. Because of their high frequency, these data improve identification and allow for a precise characterization of the transmission lags. We find that shocks to short-term interest rates affect spending much more...
Persistent link: https://www.econbiz.de/10014258574
The COVID-19 pandemic has been an unprecedented shock to economic activity with abrupt and unexpected changes in household consumption behavior. This paper investigates how the spread of the pandemic and government interventions have affected consumer spending using daily card transaction data...
Persistent link: https://www.econbiz.de/10014258781
coordinate aid allocations are not implementable. Moreover, since policies to increase donor competition in terms of aid …
Persistent link: https://www.econbiz.de/10013098604
In this paper, we explore how competition among stock exchanges, operated as self-regulatory organizations (SROs … incomplete and investors do not have perfect information about the monitoring efficiency, competition among exchanges induces a …
Persistent link: https://www.econbiz.de/10013086309
Does greater product market competition improve external competitiveness and growth? This paper examines this question … emerging market economies and developing countries, and finds that an improvement in domestic competition is associated with a … productivity growth. Price levels, including of essential items, are also generally lowered with an increase in competition …
Persistent link: https://www.econbiz.de/10012839680
policy could strengthen longer-term growth, particularly so where strong product market competition prevents firms from self … policy through the intangible investment channel, and its complementarity with pro-competition product market deregulation …
Persistent link: https://www.econbiz.de/10012840222