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To surcharge or not to surcharge? A two-sided market perspective of the no-surchage rule

Economides, Nicholas; Henriques, David - European Central Bank - 2011

In Electronic Payment Networks (EPNs) the No-Surcharge Rule (NSR) requires that merchants charge the same final good price regardless of the means of payment chosen by the customer. In this paper, we analyze a three-party model (consumers, merchants, and proprietary EPNs) to assess the impact of...

Persistent link: https://www.econbiz.de/10009367476

Market power, innovative activity and exchange rate pass-through in the euro area

Brissimis, Sophocles N.; Kosma, Theodora - European Central Bank - 2005

This paper examines exchange rate pass-through in the euro area by accounting for the impact of exchange rate changes on exporting firms’ market power, cost structure and competitiveness. An international oligopoly model where exporting firms simultaneously decide on their pricing and...

Persistent link: https://www.econbiz.de/10005070393

Competition in the Portuguese economy : estimated price-cost margins under imperfect labour markets

Amador, João (contributor); … - European Central Bank - 2015

This article estimates price-cost margins for the Portuguese markets in a context of imperfect competition in the labour market. The database used includes virtually the universe of Portuguese firms for the period 2005-2009. The results strongly reject the hypothesis of perfect competition in...

Persistent link: https://www.econbiz.de/10015298734

Firms' heterogeneous (and unintended) investment response to carbon price increases

Matzner, Anna (contributor); Steininger, Lea (contributor) - European Central Bank - 2024

We study the heterogeneous pass-through of carbon pricing on investment across firms. Using balance sheet data of 1.2 million European firms and identified carbon policy shocks, we find that higher carbon prices reduce investment, on average. However, less carbon-intensive firms and sectors...

Persistent link: https://www.econbiz.de/10015278012

Carbon pricing, border adjustment and renewable energy investment : a network approach

Delgado-Téllez, Mar (contributor); … - European Central Bank - 2025

An increase of e100 per tonne in the EU carbon price reduces the carbon footprint but lowers GDP due to higher energy costs and carbon leakage. Using a dynamic multi-sector, multi-country model augmented with an energy block that includes endogenous renewable energy investment, we analyze the...

Persistent link: https://www.econbiz.de/10015428161

Is there a single frontier in a single European banking market?

Bos, Jaap W. B.; Schmiedel, Heiko - European Central Bank - 2006

EU. Using a data set of more than 5000 large commercial banks from all major European banking markets over the period … 1993-2004, the application of meta-frontiers enables us to assess the existence of a single and integrated European banking … market. We find evidence in favor of a single European banking market characterized by cost and profit meta …

Persistent link: https://www.econbiz.de/10005530694

Equity and bond market signals as leading indicators of bank fragility

Gropp, Reint; Vesala, Jukka; Vulpes, Giuseppe - European Central Bank - 2002

We analyse the ability of the distance-to-default and bond spreads to signal bank fragility. We show that both indicators are complete and unbiased and that spreads are non-linear in the probability of bank default. We empirically test these properties in a sample of EU banks. We find leading...

Persistent link: https://www.econbiz.de/10005530777

Banks' financial distress, lending supply and consumption expenditure

Damar, H. Evren; Gropp, Reint; Mordel, Adi - European Central Bank - 2014

We employ a unique identification strategy linking survey data on household consumption expenditure to bank-level data to estimate the effects of bank financial distress on consumer credit and consumption expenditures. We show that households whose banks were more exposed to funding shocks...

Persistent link: https://www.econbiz.de/10011067238

Deposit insurance, moral hazard and market monitoring

Gropp, Reint; Vesala, Jukka - European Central Bank - 2004

banking model we show that deposit insurance may reduce moral hazard, if deposit insurance credibly leaves out non …

Persistent link: https://www.econbiz.de/10005004531

Cross-border bank contagion in Europe

Gropp, Reint; Lo Duca, Marco; Vesala, Jukka - European Central Bank - 2006

This paper analyses cross-border contagion in a sample of European banks from January 1994 to January 2003. We use a multinomial logit model to estimate the number of banks in a given country that experience a large shock on the same day (“coexceedances”) as a function of variables measuring...

Persistent link: https://www.econbiz.de/10005004534