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Why do developing countries fail to specialize in products in which they appear to have a comparative advantage? We propose a model of agricultural trade with intermediation that explains how hold-up resulting from poor contracting environments can produce such an outcome. We use the model to...
Persistent link: https://www.econbiz.de/10012458035
The paper studies equilibrium pricing in a product market for an indivisible good where buyers search for sellers. Buyers search sequentially for sellers, but do not meet every seller with the same probability. Specifically, a fraction of the buyers' meetings lead to one particular large seller,...
Persistent link: https://www.econbiz.de/10012458674
We analyze data on tens of thousands of alternating-offer, business-to-business negotiations in the wholesale used-car market, with each negotiation mediated (over the phone) by a third-party company. The data shows the identity of the employee mediating the negotiations. We find that who...
Persistent link: https://www.econbiz.de/10012616607
Empirical studies have found that enhanced foreign competition can encourage or discourage innovation. To address this relationship, I examine a market structure in which a small number of large multi-product oligopolists compete with a large number of small single-product firms in the same...
Persistent link: https://www.econbiz.de/10014436971
The audit market's unique combination of features-its role in capital market transparency, mandated demand, and concentrated supply-means it receives considerable attention from policymakers. We explore the effects of two market scenarios that have been the focus of policy discussions: a)...
Persistent link: https://www.econbiz.de/10012459410
It has long been believed that international competition forces domestic firms to behave more competitively. I term this the imports-as--market-discipline hypothesis. I construct a simple static oligopoly model and estimate the model using panel data from Turkish manufacturing firms. The data...
Persistent link: https://www.econbiz.de/10012475359
contributions to welfare for a set of European OECD countries (Belgium, France, Great Britain, Italy, Spain), using industry …
Persistent link: https://www.econbiz.de/10011394520
(Belgium, France, Great Britain, Italy, Spain), using industry-level (EU-KLEMS) and firm-level (Amadeus) data. After adding …
Persistent link: https://www.econbiz.de/10012463070
Industrial policies (IPs) include such varying practices as production subsidies, export subsidies, and import protection, and are commonly used by countries to promote targeted sectors. However, such policies can have significant impacts on sectors other than those targeted by the IPs,...
Persistent link: https://www.econbiz.de/10012459971
This paper identifies a credit-supply contraction that arises endogenously after trade liberalization. Banks with loan portfolios concentrated in sectors exposed to competition from China face an increase in non-performing loans after China's entry into the World Trade Organization. As a result,...
Persistent link: https://www.econbiz.de/10014250129