[...]In this article, we demonstrate how such industry-specific realexchange rates can be constructed and present the recent pathsof these indexes. We next present three basic real exchange ratemeasures for each industry: one using export partner weightsonly, a second using import partner...

In the view of most policymakers and economists,competition in retail banking takes place in localmarkets covering a relatively small geographic area.Banks are thought to design their services and settheir loan and deposit rates in response to the supply anddemand conditions prevailing in a...

We consider the effects of an imperfectly competitive banking sector on the capital stock in a version of the two-period Diamond OLG model, focusing on how profits are returned. There are two broad alternatives: profits may be taxed and returned to households exogenously as fiscal transfers or...

[...]The branch prices we study are less limited. Increasingly,banks are entering new markets by buying one or morebranches from other banks (Benz 1998). The price of a givenbranch should depend on the branch’s expected profits, andexpected profits, in turn, depend on competition. All...

This paper empirically assesses the impact of the intensity of competition on investment in new technologies within the mobile telecommunications industry. Using firm level panel data and an instrumental variable estimation it finds an inverted-U relationship between competition intensity and...

A key question for European regulation going forward is the degree to which a third physical broadband access medium might substitute for broadband offered over traditional telecommunications and cable. Only if a third effective facilities-based competitor were to emerge would it appear to be...

This paper investigates the relationship between competition and investment in the wireless industry from a dynamic perspective. Using firm level data and instrumental variable estimation strategy, it finds that the relationship is inverted-U shaped, with an investment maximising intensity of...