Essays In Empirical Industrial Organization Finance Market And Public Policies

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Essays in Empirical Industrial Organization, Finance Market and Public Policies

Author : Ana María Montoya Squif
Publisher :
ISBN 13 :
Total Pages : 118 pages
Book Rating : 4.:/5 (12 download)

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Book Synopsis Essays in Empirical Industrial Organization, Finance Market and Public Policies by : Ana María Montoya Squif

Download or read book Essays in Empirical Industrial Organization, Finance Market and Public Policies written by Ana María Montoya Squif and published by . This book was released on 2017 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debido a la preocupación por la estabilidad del sistema financiero los reguladores han adoptado diversas políticas regulatorias, algunas estructurales como también orientadas al comportamiento de los consumidores. Dichas regulaciones han llevado a reducir las barreras de entrada en el sistema bancario y a incrementar la integración financiera. Como también a disminuir la información asimétrica entre bancos y consumidores. En esta investigación, se analizan distintos tipos de regulación bancaria con el objetivo de contribuir a la literatura orientada a promover la estabilidad y fomentar la competencia en la banca industria. Esta tesis evalúa empíricamente a través de metodologías econométricas los siguientes aspectos de las políticas regulatorias: 1) cómo la penetración extranjera y la dolarización en América Latina han afectado la intensidad de competencia en la industria bancaria; 2) evaluar si los cambios en las exigencias de capital de los bancos afectan su nivel de deuda e inversión; y 3) evaluar si las regulaciones bancaria sobre la forma en que se proporciona la información sobre los costos de los préstamos a los consumidores pueden ayudar a los consumidores a tomar decisiones más informadas. Asimismo como determinar qué mecanismos si la educación financiera y/o los costos de búsqueda influyen en estos. Como implicaciones de políticas, esta investigación sugiere que adoptar la dolarización en los países con crisis financiera tiene un impacto positivo en el nivel de competencia en el sistema bancario comercial. En relación con la penetración extranjera el efecto depende del nivel de la competencia bancaria en distintos países, por lo tanto, es una buena política para reducir barreras estructurales en los países con menor nivel de competencia, pero en donde el nivel de competencia es mayor las autoridades deben aplicar adicionalmente otras políticas para aumentar el nivel de competencia, lo que está en consonancia nuevos tipos de regulaciones relacionadas con la información asimétrica entre consumidores y bancos en el sector bancario. Hemos constatado que el fortalecimiento de la regulación del capital bancario, Basilea II, afecta el nivel de créditos de las firmas, pero este efecto es heterogéneo, esta magnitud depende del tamaño. Esto es coherente, porque la evaluación de riesgo de Basilea II, considera la evaluación de agencias de riesgo en su análisis, que está correlacionada con los ingresos. Por lo tanto, considerando el coste asimétrico del capital bancario entre las firmas pueden reasignar recursos. Otro resultado interesante es que el nivel de crédito aumenta en los países que han implementado Basilea II. Esto podría explicarse porque estos países se consideran mucho más seguros debido a las mayores exigencias impuestas. Sin embargo, en la inversión la regulación no tiene un efecto claro. Significativamente, los cambios en el préstamo como mecanismo de financiamiento no tienen un efecto concluyente sobre el promedio de la inversión. Tiene sentido dado su acceso a recursos financieros con financiamiento propio, en mercado de bonos corporativos y acciones. En un contexto de información asimétrica entre prestatarios y entidades bancarias, existe una creciente preocupación de que las instituciones utilicen la complejidad de la información para morigerar el nivel de competencia. Nuestros resultados de evaluación de política regulatoria de la información en Chile, sugieren que los consumidores en el 40 por ciento superior en la distribución de ingresos lograron tasas de interés más bajas después de la implementación de la regulación. Esto representa una reducción, en promedio, de más de 4 puntos en el promedio Anual. No existen efectos estadísticamente significativos para el resto de los consumidores. Los resultados sugieren que este efecto se explica por el nivel de educación financiera que poseen los consumidores. Las implicaciones de política pública son directas, en los países con mayor dispersión en la distribución del ingreso no sólo es necesario simplificar la información si queremos ampliar los beneficios de reducir la información asimétrica entre las firmas y los consumidores, necesitamos complementar este tipo de políticas con educación financiera.

Essay in Empirical Industrial Organization and Public Finance

Author : Daniel Grodzicki
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (885 download)

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Download or read book Essay in Empirical Industrial Organization and Public Finance written by Daniel Grodzicki and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation comprises three chapters. The first two chapters investigate competition in the U.S. credit card market. The first looks at broad changes in the market's competitive environment over the past two decades. More specifically, it establishes how the classical facts characterizing a failure of competition in credit card lending during the 1980s are largely reversed in the decades following. Extending previous theories of limited competition in credit card lending, it illustrates how many of these changes can be explained by considering the role of costly screening in mitigating adverse selection. The second chapter studies more directly how issuers compete in today's market. To this end, it presents an equilibrium model of credit card issuers' mail out decisions and estimates it using data on direct mail credit card offers. In contrast to previous work, the model accounts for the complexity of card products, for heterogeneity in individuals' tastes for cards, and for differences in how profitable consumers are to issuers. It then explores the equilibrium supply effects of changes in the market environment. Specifically, it shows that an increase in the cost of funds (Treasury rate) unambiguously reduces consumers' propensity to receive offers and the range of rates on offers received. Conversely, reducing sending costs unambiguously increases the number and variety of offers. It also leads to an increase in the average rate on offered products. Adding a competitor on net increases the propensity to receive credit. However, it also deters existing competitors from making offers to some individuals whom they might have otherwise found profitable. The third chapter looks at the potential effects of differing methods for taxing inter-generational wealth transfers. Using wealth data on U.S. households, it forecasts changes in household wealth in the coming decade and calculates the importance of untaxed wealth in bequeathed estates. It then compares the aggregate and distributional effects of the current estate tax to those in which only the unrealized capital gains are subject to tax. It estimates that, in the coming decade, policies taxing capital gains can potentially raise more revenue than the current estate tax, but not without a substantial increase in the fraction of households facing a tax. Moreover, modest increases in capital gains allowance is likely to both sharply reduce total revenue and focus the burden of the tax on high wealth households.

Competition, Efficiency, and Welfare

Author : Dennis C. Mueller
Publisher : Springer Science & Business Media
ISBN 13 : 1461555590
Total Pages : 397 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Competition, Efficiency, and Welfare by : Dennis C. Mueller

Download or read book Competition, Efficiency, and Welfare written by Dennis C. Mueller and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition, Efficiency and Welfare contains a collection of papers in honor of Manfred Neumann. This collection was prepared as a tribute to a teacher and scholar, whose accomplishments have enriched various fields of economics. The magnitude of his interests is reflected in the breadth of topics covered in this volume: industrial economics, competition policy and related topics. However, if one unifying principle runs through Manfred Neumann's work, it is the belief in the power of competition. Born on May 16, 1933, Manfred Neumann studied economics at the University of Cologne. He graduated in 1960. In 1969 Manfred Neumann was appointed Professor of Economics at Nürnberg University. He was Dean of the Faculty of Economics and Social Sciences of the University of Erlangen-Nürnberg, President of the European Association for Research in Industrial Economics (EARIE) and Chairman of Industrial Organization Study Group of the Verein für Sozialpolitik. Most of his professional career has been spent at Nürnberg, where he has helped to make the Economic Institute one of the leading research centers in Industrial Organization. He has also been involved in various advisory activities. The volume contains 18 essays. The first twelve are grouped into four categories: Innovation and R&D (Part I), Cartels (Part II), Mergers and Merger Policy (Part III), and Methodological Issues in Industrial Organization (Part IV). These papers fall within the bounds of industrial economics, which has been Manfred Neumann's primary research interest throughout his career. Part V includes two papers on theories of international trade, which has been a recurring topic of interest for Manfred Neumann through the years. The last three papers look at broader policy and macroeconomic issues. Contributors to this volume include Karl Aiginger, David B. Audretsch, Paul A. Geroski, Stephen Martin and Dennis Mueller.

Economic Theory, Dynamics and Markets

Author : Takashi Negishi
Publisher : Springer Science & Business Media
ISBN 13 : 1461516773
Total Pages : 542 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Economic Theory, Dynamics and Markets by : Takashi Negishi

Download or read book Economic Theory, Dynamics and Markets written by Takashi Negishi and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Theory, Dynamics, and Markets. The collection of essays in honor of Ryuzo Sato, written by his colleagues and students, covers the many fields of economic theory and policy to which he has contributed. The first section pays tribute to his contributions to mathematical economics and economic theory. Ryuzo Sato is known for his work in growth theory and technical progress, and the second section has a number of papers on macroeconomics and dynamics. The third section has a number of papers on financial markets and their functioning in Japan and the United States. The next section examines various aspects of the economics of firms and industry. Ryuzo Sato has been very involved in analyzing the economic and business relations between Japan and the United States, and the last section is devoted to comparative analysis of economic systems.

Three Essays in Empirical Industrial Organization

Author : Abraham C. Dunn
Publisher :
ISBN 13 :
Total Pages : 278 pages
Book Rating : 4.:/5 (98 download)

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Book Synopsis Three Essays in Empirical Industrial Organization by : Abraham C. Dunn

Download or read book Three Essays in Empirical Industrial Organization written by Abraham C. Dunn and published by . This book was released on 2014 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many differentiated product industries in which firms offer multiple products in the same market. In making strategic decisions regarding entry, quality and quantity to be supplied for their multiple products firms must consider the competition with rivals as well as cannibalization of their own products that are close substitutes. In this setting, understanding the relationship between the behavior of consumer demand and firms decisions' regarding product characteristics and strategic variables like advertising are fundamental issues in industrial organization. This dissertation empirically explores these fundamental issues in the pharmaceutical and airline industries. The first paper of my dissertation estimates consumer demand for different anti-cholesterol drugs using panel data on a nationally representative sample of individuals who were diagnosed with cholesterol problems in the period 1996-2002. The data provides detailed information on individuals' medical conditions, medical and drug insurance coverage, drug purchases (if any), and other demographic and medical information. Individuals choose whether to purchase an anti-cholesterol rug and, if so, which drug to buy. The model permits flexible substitution patterns among drug choices and persistence in those choices by incorporating both observed and unobserved consumer heterogeneity. The estimates suggest that lower income patients without prescription drug insurance are very price sensitive: they are less likely to use drugs and, if they do use them, they tend to purchase the less expensive drugs. I find that roughly 500 thousand individuals without drug insurance who are currently not purchasing anti-cholesterol drugs would do so in the counterfactual world in which they are given the standard co-payment plan. The second paper also looks at consumer demands for anti-cholesterol drugs. While the first paper focused on the differentiated products, this paper explores the market expansion effects of direct-to-consumer advertising (DTCA). The study combines the individual data used in the first paper with monthly expenditure data on DTCA for the period 1996-2002. The dynamic demand model estimated in this paper explores the heterogeneous effects of DTCA. Overall, I find a positive effect from DTCA with short term elasticity of 0.107. Through persistence in consumer demand this effect lasts over multiple time periods. I find that individuals not taking a cholesterol drug respond more to advertising than those on the drug. In addition, I find that less educated individuals, those that may be unaware of their health condition, and those without health insurance are most responsive to DTCA. Finally, the third paper studies the effect of product ownership and quality on entry in the airline industry. Specifically, this paper empirically examines the decision of an airline to offer high quality nonstop service between cities given that the airline may or may not be offering lower quality one-stop service. I find that airlines that offer one-stop service through a hub are less likely to enter that same market with nonstop service than those that do not. In addition, the quality of the one-stop service is another determinant of entry. Airlines are more likely to enter a market with nonstop service if their own or their rival's one-stop service in the market are of lower quality.

Three Essays on the Industrial Organization of Financial Markets

Author : David F. Andrade
Publisher :
ISBN 13 :
Total Pages : 236 pages
Book Rating : 4.:/5 (56 download)

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Book Synopsis Three Essays on the Industrial Organization of Financial Markets by : David F. Andrade

Download or read book Three Essays on the Industrial Organization of Financial Markets written by David F. Andrade and published by . This book was released on 1997 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays on Empirical Industrial Organization

Author : Zening Li
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (18 download)

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Book Synopsis Three Essays on Empirical Industrial Organization by : Zening Li

Download or read book Three Essays on Empirical Industrial Organization written by Zening Li and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Empirical Studies in Industrial Organization

Author : David B. Audretsch
Publisher : Springer Science & Business Media
ISBN 13 : 9401127956
Total Pages : 283 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Empirical Studies in Industrial Organization by : David B. Audretsch

Download or read book Empirical Studies in Industrial Organization written by David B. Audretsch and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical Studies in Industrial Organization brings together leading scholars who present state-of-the-art research in the spirit of the structure-conduct-performance paradigm embodied in the work of Leonard W. Weiss. The individual chapters are generally empirically or public policy oriented. A number of them introduce new sources of data that, combined with the application of appropriate econometric techniques, enable new breakthroughs and insights on issues hotly debated in the industrial organization literature. For example, five of the chapters are devoted towards uncovering the link between market concentration and pricing behavior. While theoretical models have produced ambiguous predictions concerning the relationship between concentration and price these chapters, which span a number of different markets and situations, provide unequivocal evidence that a high level of market concentration tends to result in a higher level of prices. Three of the chapters explore the impact of market structure on production efficiency, and three other chapters focus on the role of industrial organization on public policy. Contributors include David B. Audretsch, Richard E. Caves, Mark J. Roberts, F.M. Scherer, John J. Siegfried and Hideki Yamawaki.

Essays on Empirical Industrial Organization

Author : Roxana Cecilia Fernández Machado
Publisher :
ISBN 13 : 9789056685201
Total Pages : 106 pages
Book Rating : 4.6/5 (852 download)

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Book Synopsis Essays on Empirical Industrial Organization by : Roxana Cecilia Fernández Machado

Download or read book Essays on Empirical Industrial Organization written by Roxana Cecilia Fernández Machado and published by . This book was released on 2017 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Efficiency, Finance, and Varieties of Industrial Policy

Author : Akbar Noman
Publisher : Columbia University Press
ISBN 13 : 0231542771
Total Pages : 527 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Efficiency, Finance, and Varieties of Industrial Policy by : Akbar Noman

Download or read book Efficiency, Finance, and Varieties of Industrial Policy written by Akbar Noman and published by Columbia University Press. This book was released on 2016-11-29 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Britain's industrial revolution onwards. This volume revisits the role of industrial policy in the success of these strategies and what it can offer developed and developing economies today. Featuring essays from experts invested in the expansion of industrial policies, topics discussed include the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India's experience with industrial policy in the banking and private sector. One essay revisits the theoretical and conceptual foundations of industrial policy from a structural economics perspective and another describes the models, packages, and transformation cycles that constitute a variety of approaches to implementation. The collection concludes with industrial strategies for facilitating quality growth, realizing more sustainable manufacturing development, and encouraging countries to industrialize around their natural resources.

Handbook of Econometrics

Author : James J. Heckman
Publisher : Elsevier
ISBN 13 : 0444534288
Total Pages : 1057 pages
Book Rating : 4.4/5 (445 download)

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Book Synopsis Handbook of Econometrics by : James J. Heckman

Download or read book Handbook of Econometrics written by James J. Heckman and published by Elsevier. This book was released on 2009-01-13 with total page 1057 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of Econometrics

Author : James Joseph Heckman
Publisher : Elsevier
ISBN 13 : 0444506314
Total Pages : 1013 pages
Book Rating : 4.4/5 (445 download)

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Book Synopsis Handbook of Econometrics by : James Joseph Heckman

Download or read book Handbook of Econometrics written by James Joseph Heckman and published by Elsevier. This book was released on 2007 with total page 1013 pages. Available in PDF, EPUB and Kindle. Book excerpt: As conceived by the founders of the Econometric Society, econometrics is a field that uses economic theory and statistical methods to address empirical problems in economics. It is a tool for empirical discovery and policy analysis. The chapters in this volume embody this vision and either implement it directly or provide the tools for doing so. This vision is not shared by those who view econometrics as a branch of statistics rather than as a distinct field of knowledge that designs methods of inference from data based on models of human choice ...

Environmental and Energy Policy and the Economy

Author : Matthew J. Kotchen
Publisher : University of Chicago Press
ISBN 13 : 0226821749
Total Pages : 275 pages
Book Rating : 4.2/5 (268 download)

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Book Synopsis Environmental and Energy Policy and the Economy by : Matthew J. Kotchen

Download or read book Environmental and Energy Policy and the Economy written by Matthew J. Kotchen and published by University of Chicago Press. This book was released on 2022-01-24 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents six new papers on environmental and energy economics and policy in the United States. Rebecca Davis, J. Scott Holladay, and Charles Sims analyze recent trends in and forecasts of coal-fired power plant retirements with and without new climate policy. Severin Borenstein and James Bushnell examine the efficiency of pricing for electricity, natural gas, and gasoline. James Archsmith, Erich Muehlegger, and David Rapson provide a prospective analysis of future pathways for electric vehicle adoption. Kenneth Gillingham considers the consequences of such pathways for the design of fuel vehicle economy standards. Frank Wolak investigates the long-term resource adequacy in wholesale electricity markets with significant intermittent renewables. Finally, Barbara Annicchiarico, Stefano Carattini, Carolyn Fischer, and Garth Heutel review the state of research on the interactions between business cycles and environmental policy.

Comprehensive Dissertation Index

Author :
Publisher :
ISBN 13 :
Total Pages : 978 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Comprehensive Dissertation Index by :

Download or read book Comprehensive Dissertation Index written by and published by . This book was released on 1989 with total page 978 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Industrial Organization of Banking

Author : David VanHoose
Publisher : Springer Science & Business Media
ISBN 13 : 3642028217
Total Pages : 258 pages
Book Rating : 4.6/5 (42 download)

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Book Synopsis The Industrial Organization of Banking by : David VanHoose

Download or read book The Industrial Organization of Banking written by David VanHoose and published by Springer Science & Business Media. This book was released on 2009-12-09 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to provide a thoroughly updated overview and evaluation of the industrial organization of banking. It examines the interplay among bank behaviour, market structure, and regulation from the perspective of a variety of public policy issues, including bank competition and risk, market discipline, antitrust issues, and capital regulation. New to this edition are discussions of the economic foundations of international banking, macroprudential regulation, and international coordination of banking policies. The book can serve as a learning tool and reference for graduate students, academics, bankers, and policymakers with interests in the industrial organization of the banking sector and the impacts of banking regulations.

Microsoft, Antitrust and the New Economy: Selected Essays

Author : David S. Evans
Publisher : Springer Science & Business Media
ISBN 13 : 0306476002
Total Pages : 486 pages
Book Rating : 4.3/5 (64 download)

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Book Synopsis Microsoft, Antitrust and the New Economy: Selected Essays by : David S. Evans

Download or read book Microsoft, Antitrust and the New Economy: Selected Essays written by David S. Evans and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: No antitrust case in recent history has attracted as much public attention as U.S v. Microsoft Corp. Nor has any antitrust case in memory raised as many complex, substantive issues of law, economics and public policy. Microsoft, Antitrust and the New Economy: Selected Essays constitutes an early effort to analyze some of the central issues and to put the case in the context of the ongoing debate over the role of government in managing markets - especially in technology driven New Economy industries. All of these essays, it should be noted, are written by critics of the government's efforts to regulate Microsoft. Indeed, many are by individuals who were closely involved in the company's legal defense and served as consultants to Microsoft. But their work should be judged on the merits rather than their provenance. For all represent serious scholarship by researchers committed to advancing the debate over government regulatory policies.

Applied Economics

Author : Brian Atkinson
Publisher : Bloomsbury Publishing
ISBN 13 : 1349142506
Total Pages : 512 pages
Book Rating : 4.3/5 (491 download)

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Book Synopsis Applied Economics by : Brian Atkinson

Download or read book Applied Economics written by Brian Atkinson and published by Bloomsbury Publishing. This book was released on 1998-11-11 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a team of experienced writers with contributions from specialist economists, Applied Economics combines up-to-date information with theory to provide an excellent introduction to real-world economics. The book includes chapters on the most important aspects of micro and macro economics, each containing the appropriate theory, but with the main emphasis on application. There are numerous examples, with a focus on Europe in every chapter. This is an essential text for students on undergraduate courses in economics, business and social science.