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Exchange rate pass-through, currency of invoicing and market share
Devereux, Michael B.; Dong, Wei; Tomlin, Ben - 2015
This paper investigates the impact of market structure on the joint determination of exchange rate pass-through and currency of invoicing in international trade. A novel feature of the study is the focus on market share of firms on both sides of the market - that is, exporting firms and...
Persistent link: https://www.econbiz.de/10011304162
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Credit Conditions, Macroprudential Policy and House Prices
Kelly, Robert J.; McCann, Fergal; O'Toole, Conor - 2021
We provide a micro-empirical link between the large literature on credit and house prices and the burgeoning literature on macroprudential policy. Using loan-level data on Irish mortgages originated between 2003 and 2010, we construct a measure of credit availability which varies at the borrower...
Persistent link: https://www.econbiz.de/10013248858
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Efficiency and Bargaining Power in the Interbank Loan Market
Allen, Jason - 2015
imposes a set of no-arbitrage conditions on trades in the market. For Canada's Large-Value Transfer System, we show that while … distinct phases of both the Bank of Canada's operations as well as phases of the 2007-2008 financial crisis. We find that …
Persistent link: https://www.econbiz.de/10013036647
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Mortgage Markets with Lender Competition and Asymmetric Information
Bandeh-Ahmadi, Ayeh - 2015
amongst mortgage lenders and adds the idea of lender competition into this framework. Despite this addition, the results are … loans, selling most of their mortgages and making less profit off each mortgage while concentrated lenders do the opposite …
Persistent link: https://www.econbiz.de/10013027213
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Integrated intermediation and fintech market power
Buchak, Greg; Chau, N. Vera; Jørring, Adam - 2023
Persistent link: https://www.econbiz.de/10014476663
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Integrated intermediation and fintech market power
Buchak, Greg; Chau, N. Vera; Jørring, Adam - 2023
Persistent link: https://www.econbiz.de/10014480290
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State-aided price coordination in the dutch mortgage market
Dijkstra, Mark A.; Schinkel, Maarten-Pieter - 2019 - Revision: July 2019
mortgage providers but the largest bank shifted the Dutch mortgage market from a competitive to a collusive price leadership … equilibrium. In May 2009, mortgage rates in The Netherlands suddenly rose against the decreasing funding cost trend to almost a …, and estimate response adjustments in cointegrating equations on a large data set of daily mortgage rates 2004 …
Persistent link: https://www.econbiz.de/10011979609
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Broker routing decisions in limit order markets
Cimon, David A. - 2016
The primary focus of this paper is to study conflict of interest in the brokerage market. Brokers face a conflict of interest when the commissions they receive from investors differ from the costs imposed by different trading venues. I construct a model of limit order trading in which brokers...
Persistent link: https://www.econbiz.de/10011567612
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On the importance of sales for aggregate price flexibility
Kryvtsov, Oleksiy; Vincent, Nicolas - 2014
Macroeconomists have traditionally ignored the behavior of temporary price markdowns ("sales") by retailers. Although sales are common in the micro price data, they are assumed to be unrelated to macroeconomic phenomena and generally filtered out. We challenge this view. First, using the 1996 -...
Persistent link: https://www.econbiz.de/10010418254
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Natural monopoly and distorted competition : evidence from unbundling fiber-optic networks
Minamihashi, Naoaki - 2012
Can regulation solve problems arising from a natural monopoly? This paper analyzes whether "unbundling", referring to regulations that enforce sharing of natural monopolistic infrastructure, prevents entrants from building new infrastructure. It models and estimates a dynamic entry game to...
Persistent link: https://www.econbiz.de/10009583696