We assess the impact of the corporate sector purchase programme (CSPP), the corporate arm of the ECB's quantitative easing, over its first year of activity (June 2016 - June 2017). Focusing on the primary bond market, we find evidence of a significant impact of the CSPP on yield spreads, both...

This paper studies market segmentation that arises from the introduction of a price ceiling in the market for rental housing. When part of the market faces rent control, theory predicts an increase of free-market rents, a consequence of misallocation of households to housing units. We study a...

This paper studies market segmentation that arises from the introduction of a price ceiling in the market for rental housing. When part of the market faces rent control, theory predicts an increase of free-market rents, a consequence of misallocation of households to housing units. We study a...

Measuring the extent of news segmentation is important because it could be a source of investor disagreement. However, for news segmentation to arise, news must have room for interpretation. I infer both room for interpretation and news outlet characteristics from earnings announcement coverage...

(1) Problem definition: We study a special form of group buying: the group buying succeeds only if the number of sign-ups reaches a preset threshold, with no duration constraint. Customers with heterogeneous valuations arrive sequentially and decide between signing up for the group buying or...

Prodigious amounts of data are being collected by internet companies about their users' preferences. We consider the information design problem of how to share this information with traditional companies that, in turn, compete on price by offering personalised discounts to customers. We provide...

In the ever changing market the manufacturer has to keep themselves updated and should have access to real time changes in the market as these changes in market environment alters the market segments they serve and it affects the profitability of the firm. This real time information is very...

This paper investigates how increases in concentration can be interrupted or reversed by changes in how firms compete on quality. We examine the U.S. hotel industry during the past half century. We document that starting in the early 1980s, quality competition came more in the form of costs that...