Industry is traditionally highly concentrated in Brazil, but a trend toward deconcentration was in progress from 1970 on. Recent data shows that important changes have occurred, with a reversal in the previous trend. In this paper a measure of competitiveness for different regions is presented,...

We incorporate arguments from the Tiebout model into the regulatory competition equilibrium and study cross-fertilization in the productivity growth of banks between those in a state and others in this state's neighboring states. Empirically, we focus on two time periods: before (i.e.,...

We examine empirically cross-fertilization in the productivity growth of banks between a state and its neighboring and non-neighboring states before (1971-1977) and during (1982-1995) the interstate multibank holding company (IMBHC) deregulations, upon which, cross-border bank M&As, mainly among...

We document that banking deregulation leads banks to offer lower initial rates on adjustable-rate mortgages to attract borrowers, but banks also shroud these contracts by increasing back-loaded resetting rates. More shrouding can be explained by higher proportion of naïve borrowers following...

This paper presents a new approach for measuring the effects of competition on school performance. We use an equilibrium sorting model to generate an intuitive measure of the competition each school faces, captured by the slope of the school’s demand curve. We then show that this competition...

This paper shows that subsidy competition may be efficiency enhancing. We model a subsidy game among two asymmetric regions in a new trade model, where capital can freely move among regions, but capital rewards are repatriated. We study subsidy competition, starting from an equilibrium where the...

This paper shows that subsidy competition may be efficiency enhancing. We model a subsidy game among two asymmetric regions in a new trade model, where capital can freely move among regions, but capital rewards are repatriated. We study subsidy competition, starting from an equilibrium where the...

We study the dynamics of the exploitation of a natural resource distributed among and flowing between several nodes connected via a weighted, directed network. The network represents both the locations and the interactions of the resource nodes. A regulator decides to designate some of the nodes...

All along, redundant construction has been an institutional problem in economic development of China. Since the Reformation and Opening-up, marketization has brought decentralization in economic field, which causes competition among regional governments on economic resources under given...