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Compositional dynamics and the performance of the US banking industry
Stiroh, Kevin J. (contributor) - 2000 - December 13, 1999
performers, and new entrants - made substantial contributions to changes in profitability and capitalization of the U.S. banking …
Persistent link: https://www.econbiz.de/10001682506
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The impact of network size on bank branch performance
Hirtle, Beverly J. (contributor) - 2005
profitability. The results imply that mid-sized branch networks may be at a competitive disadvantage, especially relative to the …
Persistent link: https://www.econbiz.de/10002917589
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Evaluating the information in the Federal Reserve stress tests
Flannery, Mark; Hirtle, Beverly J.; Kovner, Anna - 2015
We find evidence that the Federal Reserve stress tests (CCAR and DFAST) produce information about the stress-tested firms as well as other, non-stress-tested banking companies. Although standard event studies do not always show abnormal returns for the stress-tested sample on average, we argue...
Persistent link: https://www.econbiz.de/10011342852
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Monetizing privacy
Garratt, Rod; Lee, Michael Junho - 2021
In a market where consumers choose between payment options and firms compete with products and prices, we show that payment data drives the formation of a market monopoly. A data-sharing policy can successfully restore and maintain a competitive market, but often at the expense of both...
Persistent link: https://www.econbiz.de/10012423840
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The netting efficiencies of marketwide central clearing
Fleming, Michael J.; Keane, Frank - 2021
Market disruptions in response to the COVID pandemic spurred calls for the consideration of marketwide central clearing of Treasury securities, which might better enable dealers to intermediate large customer trading flows. We assess the netting efficiencies of increased central clearing using...
Persistent link: https://www.econbiz.de/10012511397
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U.S. market concentration and import competition
Amiti, Mary; Heise, Sebastian - 2021
A rapidly growing literature has shown that market concentration among domestic firms has increased in the United States over the last three decades. Using confidential census data for the manufacturing sector, we show that typical measures of concentration, once adjusted for sales by foreign...
Persistent link: https://www.econbiz.de/10012520308
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Brand reallocation and market concentration
Pearce, Jeremy; Wu, Liangjie - 2024
We study the interaction of customer capital and productivity through brand reallocation across firms. We develop a firm dynamics model with brands as transferable customer capital, heterogeneous firm productivity, and variable markups. We study the matching process between transferable brand...
Persistent link: https://www.econbiz.de/10015062505
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The time-varying price of financial intermediation in the mortgage market
Fuster, Andreas; Lo, Stephanie H.; Willen, Paul - 2017 - Revised August 2017
a new administrative data set, we find that the price of intermediation, measured as a fraction of the loan amount at … origination, is large - 142 basis points on average over the 2008-14 period. At daily frequencies, intermediaries pass on price … changes in the secondary market to borrowers in the primary market almost completely. At monthly frequencies, the price of …
Persistent link: https://www.econbiz.de/10011586601
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Gender and the availability of credit to privately held firms : evidence from the surveys of small business finances
Cole, Rebel A.; Mehran, Hamid - 2009
This study analyzes differences by gender in the ownership of privately held U.S. firms and examines the role of gender in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which span a period of sixteen years, we document a series of...
Persistent link: https://www.econbiz.de/10003947529
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Alternative trading systems in the corporate bond market
Kozora, Matthew; Mizrach, Bruce Marshall; Peppe, Matthew; … - 2020
We investigate the trading of corporate bonds on alternative trading system (ATS) platforms. We draw a key distinction between request-for-quote (RFQ) and electronic communication network (ECN) trading protocols, which balance investors' preference for immediacy and anonymity. Trades on ATS...
Persistent link: https://www.econbiz.de/10012257056