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Price Competition, Innovation and Profitability: Theory and UK Evidence

Symeonidis, George - C.E.P.R. Discussion Papers - 2001

This Paper examines the effect of price competition on innovation, market structure and profitability in R … counts and profitability over 1952-77. The econometric results suggest that the introduction of restrictive practices …&D-intensive manufacturing industries, while it caused a significant rise in concentration in these industries. In the short run profitability …

Persistent link: https://www.econbiz.de/10005666839

The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks

Acharya, Viral V; Steffen, Sascha - C.E.P.R. Discussion Papers - 2013

This paper argues that the European banking crisis can in part be explained by a “carry trade” behavior of banks. Factor loading estimates from multifactor models relating equity returns to GIPSI (Greece, Ireland, Portugal, Spain and Italy) and German government bond returns suggest that...

Persistent link: https://www.econbiz.de/10011084468

Public Disclosure and Bank Failures

Cordella, Tito; Levy Yeyati, Eduardo - C.E.P.R. Discussion Papers - 1998

This paper analyses the impact of public disclosure of banks’ risk exposure on banks’ risk taking incentives and its implications in terms of soundness of the banking system. We find that, when banks have a complete control over the volatility of their loan portfolio, public disclosure...

Persistent link: https://www.econbiz.de/10005123714

Financial Opening, Deposit Insurance and Risk in a Model of Banking Competition

Cordella, Tito; Levy Yeyati, Eduardo - C.E.P.R. Discussion Papers - 1998

This paper studies the impact of competition on the determination of interest rates, and on banks’ risk taking behaviour, under different assumptions about deposit insurance and the dissemination of financial information. We find that lower entry costs foster competition in deposit rates and...

Persistent link: https://www.econbiz.de/10005124322

Market Structure and Market Performance in E-Commerce

Hackl, Franz; Kummer, Michael E; Winter-Ebmer, Rudolf; … - C.E.P.R. Discussion Papers - 2012

from Austria's largest online site for price comparisons with retail data on wholesale prices provided by a major hardware … instrumenting is particularly important for estimating the effect of competition on the markup of the price leader. …

Persistent link: https://www.econbiz.de/10011083898

Innovation and Market Structure: An Empirical Evaluation of the 'Bounds Approach' in the Chemical Industry

Uribe, Marín; Luis, Pedro; Siotis, Georges - C.E.P.R. Discussion Papers - 2002

This Paper empirically tests the ‘bounds approach’ to industry structure proposed by Sutton ((1991), (1998)). To carry out this task, we focus on the chemical industry. Part of the novelty in this exercise is that we work on the finest possible level of disaggregation. Also, we identify...

Persistent link: https://www.econbiz.de/10005656233

Innovating Firms and Aggregate Innovation

Klette, Tor Jakob; Kortum, Samuel S - C.E.P.R. Discussion Papers - 2002

We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behaviour of individual heterogeneous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...

Persistent link: https://www.econbiz.de/10005788918

An Applied Econometrician's View of Large Company Performance

Geroski, Paul A - C.E.P.R. Discussion Papers - 1998

This paper contains a brief survey of recent empirical work on the performance of large companies. It tries to pull together the literature in the form of six stylized facts, illustrating them with data drawn from a single sample. The paper concludes by highlighting the issues which are thrown...

Persistent link: https://www.econbiz.de/10005789166

Bank Imputed Interest Rates: Unbiased Estimates of Offered Rates?

Örs, Evren; Rice, Tara - C.E.P.R. Discussion Papers - 2007

We examine whether “imputed” interest rates obtained from bank financial statements are unbiased estimates of “offered” interest rates that the same banks report in surveys. We find evidence of a statistically significant amount of bias. However, the statistical bias that we document...

Persistent link: https://www.econbiz.de/10005504567

"Lending by Example": Direct and Indirect Effects of Foreign Banks in Emerging Markets

Giannetti, Mariassunta; Ongena, Steven - C.E.P.R. Discussion Papers - 2008

Using a novel dataset that allows us to trace the primary bank relationships of a sample of mostly unlisted firms, we explore which borrowers are able to benefit from foreign bank presence in emerging markets. Our results suggest that the limits to financial integration are less tight than the...

Persistent link: https://www.econbiz.de/10005497713