This paper examines the effects of market deregulation on consumers and state commercial banks in China, a large developing country. I jointly estimate a system of differentiated product demand and pricing equations under alternative market structures. While China's banking reforms overall have...

Online banking has become an important distribution channel for commercial banks. We construct a bank-specific indicator of online channel adoption to study the risk and return of online channels based on a sample of 118 Chinese banks in the period 2002-2016. Our empirical results find that...

This paper examines the effects of market deregulation on consumers and state commercial banks in a developing country. I jointly estimate a system of differentiated product demand and pricing equations under alternative market structures. Overall, I find mixed results for the banking reform....

In a hub-and-spoke network, the profit function of an airline is supermodular with respect to the airline's own entry decisions for different city-pairs. This source of complementarity implies that a hub-and-spoke network can be an effective strategy for deterring the entry of competitors. This...

We find that from 1995 to 2002 in China, the dispersion of wealth decreased, the money wealth ratio increased for all wealth levels and the aggregate money-output ratio increased. We develop a two-asset dynamic general equilibrium model in which households face a portfolio adjustment cost and a...

We use a large-scale, firm-level panel dataset on Chinese manufacturing firms to examine the effect of ownership structure on inventory, the relationship between inventory and profitability and the effect of the availability of external financial resources on inventory for each ownership type...

This paper develops and estimates a dynamic model of consumer demand for deposits in which banks provide differentiated products and product characteristics that evolve over time. Existing consumers are forward-looking and incur a fixed cost for switching banks, whereas incoming consumers are...

This paper develops and estimates a dynamic model of consumer demand for deposits in which banks provide differentiated products and product characteristics that evolve over time. Existing consumers are forward-looking and incur a fixed cost for switching banks, whereas incoming consumers are...