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Bank Market Power and Monetary Policy Transmission : Evidence from a Structural Estimation

Wang, Yifei; Whited, Toni M.; Wu, Yufeng; Xiao, Kairong - 2021

-through of these costs to borrowers and depositors, while facing capital and reserve regulation. We find that bank market power …We quantify the impact of bank market power on monetary policy transmission through banks to borrowers. We estimate a … dynamic banking model in which monetary policy affects imperfectly competitive banks’ funding costs. Banks optimize the pass …

Persistent link: https://www.econbiz.de/10013310245

Low Interest Rates, Market Power, and Productivity Growth

Liu, Ernest - 2019

This study provides a new theoretical result that a decline in the long-term interest rate can trigger a stronger investment response by market leaders relative to market followers, thereby leading to more concentrated markets, higher profits, and lower aggregate productivity growth. This...

Persistent link: https://www.econbiz.de/10012893599

The Fall of the Labor Share and the Rise of Superstar Firms

Autor, David H. - 2017

The fall of labor's share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments of trends in labor's share typically have relied on industry or macro data, obscuring heterogeneity among firms. In...

Persistent link: https://www.econbiz.de/10012956386

Concentrating on the Fall of the Labor Share

Autor, David H. - 2017

The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a “superstar firm” model where industries are increasingly characterized by “winner take most” competition, leading a small number of highly profitable (and...

Persistent link: https://www.econbiz.de/10012964393

Did the HMO Revolution Cause Hospital Consolidation?

Town, Robert J.; Wholey, Douglas R.; Feldman, Roger; … - 2022

During the 1990s US healthcare markets underwent a significant transformation. Managed care rose to become the dominant form of insurance in the private sector. Also, a wave of hospital consolidation occurred. In 1990, the mean population-weighted hospital Herfindahl-Hirschman Index (HHI) in a...

Persistent link: https://www.econbiz.de/10013324013

The Gains and Losses from Industrial Concentration

Peltzman, Sam - 2021

In essence, this paper will try to decompose the concentration-profits relationship into separate concentration-price arid concentration-cost relationships. By doing this, I hope to shed light on some of the allocative and distributive issues that, I suspect, give the subject its intrinsic...

Persistent link: https://www.econbiz.de/10013311668

Paying the Piper : The High Cost of Funerals in South Africa

Case, Anne - 2010

We analyze funeral arrangements following the deaths of 3,751 people who died between January 2003 and December 2005 in the Africa Centre Demographic Surveillance Area. We find that, on average, households spend the equivalent of a year's income for an adult's funeral, measured at median per...

Persistent link: https://www.econbiz.de/10012758240

Evidence for the Effects of Mergers on Market Power and Efficiency

Blonigen, Bruce A. - 2016

Study of the impact of mergers and acquisitions (M&As) on productivity and market power has been complicated by the difficulty of separating these two effects. We use newly-developed techniques to separately estimate productivity and markups across a wide range of industries using detailed...

Persistent link: https://www.econbiz.de/10012980667

A Critical Assessment of the Role of Imperfect Competition in Macroeconomics

Carlton, Dennis W. - 2021

New Keynesian models and some models of growth rely on market power for their results. This sole focus on market power as the source for certain macroeconomic phenomena is misguided both theoretically and empirically. New Keynesian multipliers are closely related to standard measures of...

Persistent link: https://www.econbiz.de/10013232435

Biases in Static Oligopoly Models? Evidence from the California Electricity Market

Kim, Dae-Wook; Knittel, Christopher R. - 2021

marginal costs are biased. Our results suggest that the NEIO technique poorly estimates the level of mark-ups and the …

Persistent link: https://www.econbiz.de/10013234077

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