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Fees on Fees in Funds of Funds
Brown, Stephen J. - 2009
Funds of funds are an increasingly popular avenue for hedge fund investment. Despite the increasing interest in hedge funds as an alternative asset class, the high degree of fund specific risk and the lack of transparency may give fiduciaries pause. In addition, many of the most attractive hedge...
Persistent link: https://www.econbiz.de/10012767775
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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
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The Fall of the Labor Share and the Rise of Superstar Firms
Autor, David H. - 2017
or macro data, obscuring heterogeneity among firms. In this paper, we analyze micro panel data from the U.S. Economic …
Persistent link: https://www.econbiz.de/10012956386
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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
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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
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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
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On the Regulation of Fee Structures in Mutual Funds
Das, Sanjiv Ranjan - 2010
We offer an alternative framework for the analysis of mutual funds and use it to examine the rationale behind existing regulations that require mutual fund advisor fees to be of the fulcrum' variety. We find little justification for the regulations. Indeed, we find that asymmetric incentive...
Persistent link: https://www.econbiz.de/10012763594
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Liquidity Rules and Credit Booms
Hachem, Kinda - 2016
interbank pricing power. Attempts to circumvent the regulation change the allocation of savings across institutions, eliciting …
Persistent link: https://www.econbiz.de/10013001209
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Taxes and Trading Versus Intensity Standards : Second-Best Environmental Policies with Incomplete Regulation (Leakage) or Market Power
Holland, Stephen P. - 2010
the sum of consumer and producer surplus) in the presence of incomplete regulation (leakage) or market power by analyzing … regulation, I show that under certain conditions an intensity standard can yield higher welfare than any emissions tax (including … relies more on substitution effects than output effects to reduce emissions. With incomplete regulation or market power, this …
Persistent link: https://www.econbiz.de/10013151142
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Tobacco Regulation Through Litigation : The Master Settlement Agreement
Viscusi, W. Kip - 2012
The 1998 Master Settlement Agreement resolved the unprecedented litigation in which the states sought to recoup the cigarette-related Medicaid costs. The litigation was settled through a combination of negotiated regulatory requirements and financial payments of about $250 billion over 25 years....
Persistent link: https://www.econbiz.de/10013116702