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Entry, Pricing and Product Design in an Initially Monopolized Market
Davis, Steven J. - 2001
We analyze entry, pricing and product design in a model with differentiated products. Under plausible conditions, entry into an initially monopolized market leads to higher prices for some, possibly all, consumers. Entry can induce a misallocation of goods to consumers, segment the market in a...
Persistent link: https://www.econbiz.de/10012470171
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Policies for Green Design
Fullerton, Don - 1996
We analyze alternative policies such as a disposal content fee, a subsidy for recyclable designs, unit pricing of household disposal, a deposit-refund system, and a manufacturer `take-back' requirement. In order to identify the problem being addressed, we build a simple general equilibrium model...
Persistent link: https://www.econbiz.de/10012473254
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Keeping it Fresh : Strategic Product Redesigns and Welfare
Blonigen, Bruce A. - 2013
Product redesigns happen across virtually all types of products. While there is substantial evidence that new varieties of goods increase welfare, there is little evidence on the effect of product redesigns. We develop a model of redesign and exit decisions in a dynamic oligopoly model (a la...
Persistent link: https://www.econbiz.de/10012459665
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Estimating Exchange Rate Exposures : Some "Weighty" Issues
Bodnar, Gordon M. - 2000
From a sample of 910 U.S. firms over the period 1977 1996, we find that structure of the empirical model has significant impacts on resulting estimates of exchange rate exposures from equity returns. While lengthening the return horizon has minimal impact on exposure estimates, the inclusion of...
Persistent link: https://www.econbiz.de/10012471279
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The Optimal Size of a Tax Collection Agency
Slemrod, Joel - 1985
This paper addresses the optimal degree of law enforcement regarding tax evasion. It derives the conditions that characterize the optimal size of a tax collection agency, and then provides a simple interpretation of the conditions in terms of excess burden.The paper clarified earlier findings...
Persistent link: https://www.econbiz.de/10012477320
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The Effects of Incomes Policies on the Frequency and Size of Wage Changes
Pencavel, John H. - 1981
Along with house rents, wages have frequently been described as the "stickiest" prices in the economy, rarely adjusted more than once a year. Because of this stickiness (which arises from the transactions costs involved in changing wages), a distinction exists between the adjustment of wages and...
Persistent link: https://www.econbiz.de/10012478335
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Bounds on a Slope from Size Restrictions on Economic Shocks
Petterson, Marco Stenborg - 2020
We study the problem of learning about the slope of a linear relationship between an outcome (e.g., quantity) and an input (e.g., price) when the outcome is subject to time-varying, unobserved economic shocks. We show that restrictions on the absolute magnitude of the economic shocks are...
Persistent link: https://www.econbiz.de/10012481411
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Bank Liquidity Provision Across the Firm Size Distribution
Chodorow-Reich, Gabriel - 2020
times; and (v) pay higher spreads, even conditional on other firm characteristics. We present a theory of loan terms that … recession. Consistent with the theory, the increase in bank credit in 2020Q1 and 2020Q2 came almost entirely from drawdowns by …
Persistent link: https://www.econbiz.de/10012482165
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Professor Zipf goes to Wall Street
Malevergne, Yannick - 2009
The heavy-tailed distribution of firm sizes first discovered by Zipf (1949) is one of the best established empirical facts in economics. We show that it has strong implications for asset pricing. Due to the concentration of the market portfolio when the distribution of the capitalization of...
Persistent link: https://www.econbiz.de/10012463355
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Firm Size Dynamics in the Aggregate Economy
Rossi-Hansberg, Esteban - 2005
presents a theory of firm dynamics that simultaneously rationalizes the basic facts on firm growth, exit, and size … distributions. The theory emphasizes the accumulation of industry specific human capital in response to industry specific … productivity shocks. The theory implies that firm growth and exit rates should decline faster with size, and the size distribution …
Persistent link: https://www.econbiz.de/10012467424