Showing 1 - 10 of 62
Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …
Persistent link: https://www.econbiz.de/10013223084
A key role of standard setting organizations (SSOs) is to aggregate information on relevant intellectual property (IP) claims before deciding on a standard. This article explores the firms' strategies in response to IP disclosure requirements—in particular, the choice between specific and...
Persistent link: https://www.econbiz.de/10012980198
Standardization of complex products is touted as improving consumer decisions and intensifying price competition, but … evidence on standardization is limited. We examine a natural experiment: the standardization of health insurance plans on the … Massachusetts Health Insurance Exchange. Pre-standardization, firms had wide latitude to design plans. A regulatory change then …
Persistent link: https://www.econbiz.de/10013074626
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
Although policymakers often discuss tradeoffs between bank competition and stability, past research provides differing … theoretical perspectives and empirical results on the impact of competition on risk. In this paper, we employ a new approach for … competition materially boosts bank risk. With respect to the mechanisms, we find that competition reduces bank profits, charter …
Persistent link: https://www.econbiz.de/10012964890
This paper examines the effects of campaign spending limits on political competition and incumbency advantage. We study … discontinuous kink which we exploit for causal identification. We find that stricter limits increase political competition by …
Persistent link: https://www.econbiz.de/10012954449
Did regulatory reforms that lowered barriers to competition among U.S. banks increase or decrease the quality of … information that banks disclose to the public and regulators? We find that an intensification of competition reduced abnormal … competition reduces bank opacity, enhancing the ability of markets and regulators to monitor banks …
Persistent link: https://www.econbiz.de/10013039766
restraints, thereby, soften retail competition—an impact also generated by resale price maintenance (RPM). However, by …
Persistent link: https://www.econbiz.de/10012980147
We study the impact of online degree programs on the market for U.S. higher education. Online degree programs increase the competitiveness of local education markets by providing additional options in areas that previously only had a small number of brick-and-mortar schools. We show that local...
Persistent link: https://www.econbiz.de/10012980668
have risen and that the ensuing decline in competition has depressed consumption by five to ten percent …
Persistent link: https://www.econbiz.de/10012891372