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women's creativity within the nonmarket household sector and outside the patent system. The analysis distinguishes between … improvements in consumer final goods, changes in designs, and other forms of technological creativity. The results indicate that …'s creativity in terms of a “gender difference” rather than a “gender gap” might yield useful analytical insights. A general …
Persistent link: https://www.econbiz.de/10012964884
We use a unique dataset that combines information on advertising by subprime lenders and mortgages originated by them from 2002 to 2007 to study the relationship between advertising and the nature of mortgages obtained by consumers. We exploit the richness of our data and measure the relative...
Persistent link: https://www.econbiz.de/10013084729
This paper is the first to estimate the impact of exposure to deceptive advertising on consumption of the advertised product and its substitutes. We study the market for over-the-counter (OTC) weight-loss products, a market in which deceptive advertising is rampant and products are generally...
Persistent link: https://www.econbiz.de/10013085499
This paper examines the impact of exposure to foreign media on the economic behavior of agents in a totalitarian regime. We study private consumption choices focusing on former East Germany, where differential access to Western television was determined by geographic features. Using data...
Persistent link: https://www.econbiz.de/10013048602
Beginning in 1997, the Food and Drug Administration (FDA) allowed television advertisements to make major statements about a prescription drug, while referring to detailed drug information on the internet (FDA 1997; 2015). The hope was that consumers would seek additional information online to fully...
Persistent link: https://www.econbiz.de/10012984103
We calculate equilibria of dynamic double-auction markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors are segmented into groups that differ with respect to characteristics determining information...
Persistent link: https://www.econbiz.de/10013121588
Differences in real interest rates across developed economies are puzzlingly large and persistent. I propose a simple explanation: Bonds issued in the currencies of larger economies are expensive because they insure against shocks that affect a larger fraction of the world economy. I show that...
Persistent link: https://www.econbiz.de/10013106653
of segmentation that ultimately determines how much idiosyncratic risk traders bear in their micro market and derive … aggregate asset pricing implications. We pick segmentation parameters to match facts about systematic and idiosyncratic return … volatility. We find that if the same level of segmentation prevails in every market, traders bear 20% of their idiosyncratic risk …
Persistent link: https://www.econbiz.de/10013151364
We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a banking union; a capital market union; and complete financial markets. We show that a banking union is efficient at sharing all domestic demand shocks (deleveraging, fiscal...
Persistent link: https://www.econbiz.de/10012867438
This paper investigates how increases in concentration can be interrupted or reversed by changes in how firms compete on quality. We examine the U.S. hotel industry during the past half century. We document that starting in the early 1980s, quality competition came more in the form of costs that...
Persistent link: https://www.econbiz.de/10012857730