Reducing systemic liquidity risk related to seasonal swings in loan demand was one reason for the founding of the … extent of banks' ability to mitigate seasonal loan demand variation predict banks' decisions to join the Federal Reserve …

. We show that prices tend to fall during the seasonal demand peak for a product and that changes in retail margins account … retailer pricing and advertising competition. Other models of imperfect competition are less consistent with retailer behavior …

is too high because firms ignore an aggregate demand externality, and when there are costs of changing prices, price …

advertisements for menthol cigarettes on cigarette demand. Unlike previous research on cigarette advertising and demand, we use … to control for individual heterogeneity that influences both advertising exposure and cigarette demand. We exploit quasi … advertising effects on multiple margins of cigarette demand. Our empirical results do not provide any evidence that menthol …

Pharmaceutical firms currently spend over $4 billion on direct-to-consumer advertising (DTCA) of prescription drugs, a … driven by the introduction of Medicare Part D in 2006. Using data on advertising for local media markets from Nielsen, we … beneficiaries compared to areas with a low concentration. We examine the effects of this sudden differential increase in advertising …

advertising to acquire new customers and thereby shift demand and increase sales. In the second, they use temporarily low markups …-entry dynamics of quantities, but no post-entry dynamics of markups. This suggests that shifts in demand play an important role in … successful entry, but that firms do not use dynamic manipulation of markups as an instrument to shift demand. We structurally …

rapid rise in direct-to-consumer advertising (DTCA), made feasible by the Food and Drug Administration's (FDA) clarification … and relaxation of the rules governing broadcast advertising in 1997 and 1999. This study investigates the separate effects … of broadcast and non-broadcast DTCA on price and demand, utilizing an extended time series of monthly records for all …

We demonstrate how to estimate a model of product demand and oligopoly pricing when products are multi … informed by economic theory, we simultaneously estimate a demand system and price-cost margins for products differentiated in …

We estimate the price elasticity of water demand with household-level data, structurally modeling the piecewise … elasticity of demand under increasing-block prices and compare conditional and unconditional elasticities analytically and …

We analyze tacit collusion in an industry characterized by cyclical demand and long-run scale decisions; firms face … deterministic demand cycles and choose capacity levels prior to competing in prices. Our focus is on the nature of prices. We find … of capacity is high enough, holding current demand constant, prices in the boom will be generally lower than the prices …