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Tiebreaker : Certification and Multiple Credit Ratings

Bongaerts, Dion - 2009

This paper explores the economic role credit rating agencies play in the corporate bond market. We consider three existing theories about multiple ratings: information production, rating shopping and regulatory certification. Using differences in rating composition, default prediction and credit...

Persistent link: https://www.econbiz.de/10013156427

Competing Engines of Growth : Innovation and Standardization

Acemoglu, Daron - 2010

standardization rate (and of competition). Second, we characterize the growth and welfare maximizing speed of standardization. We show … production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … adapted to be produced using unskilled labor. Our framework highlights a number of novel results. First, standardization is …

Persistent link: https://www.econbiz.de/10013144153

Why Isn't Mexico Rich?

Hanson, Gordon H. - 2010

Over the last three decades, Mexico has aggressively reformed its economy, opening to foreign trade and investment, achieving fiscal discipline, and privatizing state owned enterprises. Despite these efforts, the country's economic growth has been lackluster, trailing that of many other...

Persistent link: https://www.econbiz.de/10013137012

The Empirical Economics of Online Attention

Boik, Andre - 2016

their general online attention patterns. This conclusion has important implications for competition and welfare in other …

Persistent link: https://www.econbiz.de/10012986680

Survival of the Fittest or the Fattest? Exit and Financing in the Trucking Industry

Zingales, Luigi - 2021

This paper studies the impact that capital market imperfections have on the natural" selection of the most efficient firms by estimating the effect of the pre-deregulation level of" leverage on the survival of trucking firms after the Carter deregulation. Highly leveraged" carriers are less...

Persistent link: https://www.econbiz.de/10013215356

Entry Deterrence in Hospital Procedure Markets : A Simple Model of Learning-by-Doing

Dafny, Leemore S. - 2021

straightforward empirical tests from a model of patient demand, procedure quality, and differentiated product competition. Using …

Persistent link: https://www.econbiz.de/10013222631

Nonprofit Production and Competition

Lakdawalla, Darius N.; Philipson, Tomas - 2021

degree of competition in a market with the share of nonprofits: the availability of economic profits under for-profit status …

Persistent link: https://www.econbiz.de/10013224865

How the Changing Market Structure of U.S. Higher Education Explains College Tuition

Hoxby, Caroline M. - 2021

autarkies" to a nationally integrated market. I demonstrate that the results of increased competition were" what industrial …

Persistent link: https://www.econbiz.de/10013233735

Competition between Private and Public Schools : Testing Stratification and Pricing Predictions

Epple, Dennis; Figlio, David N.; Romano, Richard E. - 2021

into schools when peer effects are present. The model predicts that competition will lead private schools to give tuition …

Persistent link: https://www.econbiz.de/10013236684

The Consumer Gains from Direct Broadcast Satellites and the Competition with Cable Television

Goolsbee, Austan; Petrin, Amil - 2021

This paper examines the introduction of Direct Broadcast Satellites as an alternative to cable television and the welfare gains such satellites generated for consumers. The extent to which satellites compete with cable has become an important issue in the debate over re-regulation of cable...

Persistent link: https://www.econbiz.de/10013237546