The effect bank competition has on interest rates should depend on the fact that borrowers compete against each other. The borrowing rate of a firm affects its ability to compete in the industrial marketplace, and ultimately, its ability to repay its loans. Thus, competition amongst borrowers...

Incorporating insights from the theory of vertical integration, I develop a new definition of commercial lending markets. Borrowers competing against each other across geo- graphical areas of bank influence limit the effect lack of bank competition can have on interest rates. Using the novel...

We apply the Phillips et al. (2015) methodology to date-stamp bubbles in Ethereum. The analysis of the drivers of fundamental value suggests that the explosive behavior documented in ether prices does not constitute speculative bubbles, but reflects the abrupt rally of demand for the use of...

A mounting body of evidence suggests that female premiers have done a better job of managing the COVID-19 pandemic than their male colleagues. We contribute more evidence to this debate through the analysis of the evolution of the differences in incidence and mortality rates between female- and...