Similar Search Results

Exhuming Q : Market Power vs. Capital Market Imperfections

Cooper, Russell - 2001

Evidence of the statistical significance of profits in Q regressions remains one of the principal findings in the empirical investment literature. This result is frequently taken to support the view that capital market imperfections are an important element for understanding investment. This...

Persistent link: https://www.econbiz.de/10012787764

Liquidity Rules and Credit Booms

Hachem, Kinda - 2016

We show that stricter bank liquidity standards can trigger unintended credit booms when there is heterogeneity in …

Persistent link: https://www.econbiz.de/10013001209

Search Frictions and Market Power in Negotiated Price Markets

Allen, Jason - 2014

This paper develops and estimates a search and bargaining model designed to measure the welfare loss associated with frictions in oligopoly markets with negotiated prices. We use the model to quantify the consumer surplus loss induced by the presence of search frictions in the Canadian mortgage...

Persistent link: https://www.econbiz.de/10013058698

Deposit Market Power, Funding Stability and Long-Term Credit

Li, Lei; Loutskina, Elena; Strahan, Philip E. - 2021

This paper shows that banks raising deposits in more concentrated markets have more funding stability, which enhances banks’ ability to extend longer-maturity loans. We show that banks raising deposits in concentrated markets exhibit less pro-cyclical financing costs and profits, which in turn...

Persistent link: https://www.econbiz.de/10013310157

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

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

We quantify the impact of bank market power on monetary policy transmission through banks to borrowers. We estimate a …-through of these costs to borrowers and depositors, while facing capital and reserve regulation. We find that bank market power … explains much of the transmission of monetary policy to borrowers, with an effect comparable to that of bank capital regulation …

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

Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets

Borenstein, Severin; Shepard, Andrea - 2010

We present and test an explanation for lags in the adjustment of wholesale gasoline prices to changes in crude oil prices. Our simple model with costly adjustment of production and inventories implies that output prices will respond with a lag to cost shocks even in the absence of menu costs,...

Persistent link: https://www.econbiz.de/10014112936

Products Liability, Consumer Misperceptions, and Market Power

Polinsky, Alan Mitchell; Rogerson, William P. - 2022

This paper compares alternative liability rules for allocating losses from defective products when consumers under- estimate these losses and producers may have some market power. If producers do not have any market power, the rule of strict liability .leads to both the first-best accident...

Persistent link: https://www.econbiz.de/10014120182

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

Estimating Market Power Evidence from the Us Brewing Industry

De Loecker, Jan - 2017

While inferring markups from demand data is common practice, estimation relies on difficult-to-test assumptions, including a specific model of how firms compete. Alternatively, markups can be inferred from production data, again relying on a set of difficult-to-test assumptions, but a wholly...

Persistent link: https://www.econbiz.de/10012966931

Does Multispecialty Practice Enhance Physician Market Power?

Baker, Laurence Claude - 2017

In markets for health services, vertical integration – common ownership of producers of complementary services – may have both pro- and anti-competitive effects. Despite this, no empirical research has examined the consequences of multispecialty physician practice – a common and increasing...

Persistent link: https://www.econbiz.de/10012946495