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Stress Testing Structural Models of Unobserved Heterogeneity : Robust Inference on Optimal Nonlinear Pricing

Bodoh-Creed, Aaron L.; Hickman, Brent R.; List, John A.; … - National Bureau of Economic Research - 2023

In this paper, we provide a suite of tools for empirical market design, including optimal nonlinear pricing in intensive-margin consumer demand, as well as a broad class of related adverse-selection models. Despite significant data limitations, we are able to derive informative bounds on demand...

Persistent link: https://www.econbiz.de/10014337879

Banks in Space

Oberfield, Ezra; Rossi-Hansberg, Esteban; Trachter, Nicholas - National Bureau of Economic Research - 2024

We study the spatial expansion of banks in response to banking deregulation in the 1980s and 90s. During this period, large banks expanded rapidly, mostly by adding new branches in new locations, while many small banks exited. We document that large banks sorted into the densest markets, but...

Persistent link: https://www.econbiz.de/10014512110

After the Storm : How Emergency Liquidity Helps Small Businesses Following Natural Disasters

Collier, Benjamin L.; Howell, Sabrina T.; Rendell, Lea - National Bureau of Economic Research - 2024

Does emergency credit prevent long-term financial distress? We study the causal effects of government-provided recovery … bankruptcy, increase employment and revenue, unlock private credit, and reduce delinquency. These effects, especially the … crowding-in of private credit, appear to reflect resolving uncertainty about repair. We do not find capital reallocation away …

Persistent link: https://www.econbiz.de/10014528366

Does Loan Securitization Expose Borrowers to Non-Bank Investor Shocks?—Evidence from Insurers

Bhardwaj, Abhishek; Ge, Shan; Mukherjee, Saptarshi - National Bureau of Economic Research - 2025

CLOs fund 65% of syndicated loans, theoretically insulating borrowers from bank and idiosyncratic investor shocks. However, concentrated capital and sticky relationships expose firms to idiosyncratic shocks to insurers, the largest CLO investors. We find that: 1) insurers experiencing favorable...

Persistent link: https://www.econbiz.de/10015326443

How Much do Idiosyncratic Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data

Amiti, Mary - 2013

separate firm-borrowing shocks from bank-supply shocks using a vast sample of matched bank-firm lending data. We decompose …

Persistent link: https://www.econbiz.de/10012459771

Finance as a Barrier to Entry : Bank Competition and Industry Structure in Local U.S. Markets

Cetorelli, Nicola - 2004

. Theory offers competing hypotheses about how competition ought to influence firm entry and access to bank credit by mature …This paper tests how competition in local U.S. banking markets affects the market structure of non-financial sectors … entrants face greater difficulty gaining access to credit than in markets where banking is more competitive …

Persistent link: https://www.econbiz.de/10012467857

Multidimensional Private Information, Market Structure and Insurance Markets

Fang, Hanming - 2016

A large empirical literature found that the correlation between insurance purchase and ex post realization of risk is often statistically insignificant or negative. This is inconsistent with the predictions from the classic models of insurance a la Akerlof (1970), Pauly (1974) and Rothschild and...

Persistent link: https://www.econbiz.de/10012455907