approximates Harris' (1954) market-potential function. The estimation results show how far demand linkages extend across space and …

We consider nonparametric identification in models of differentiated products markets, using only market level … models widely used in applied work. We allow for product/market-specific unobservables, endogenous product characteristics (e … marginal costs nonparametrically, allow for unobserved firm heterogeneity, and nest a variety of equilibrium oligopoly models …

autarky to bond market integration and equity market integration. Fi- nancial integration leads to a significant increase in … financial market autarky. Thus, a trade-off emerges between the probability of crises and the severity of crises. Financial …

We examine the interplay between market structure and the form that commodity taxation should take in a general … equilibrium model in which firms produce differentiated products and so are able to exert market power. Our analysis takes account … of two important recent developments that affect market structure and so the appropriate design and effectiveness of …

allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a world interbank market. We …

non-convexities, e.g. associated with bankruptcy. The architecture of the credit market can, for instance, affect the …

We analyze the firm-level and aggregate consequences of equity market imperfections in the form of noisy information … aggregation for corporate risk-taking and investment. Market imperfections cause controlling shareholders to invest too much in … upside risks and too little in downside risks in an attempt to capture market rents. In partial equilibrium, these …