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Who Bears the Welfare Costs of Monopoly? The Case of the Credit Card Industry

Herkenhoff, Kyle - 2019

How are the welfare costs from monopoly distributed across U.S. households? We answer this question for the U.S. credit card industry, which is highly concentrated, charges interest rates that are 3.4 to 8.8 percentage points above perfectly competitive pricing, and has repeatedly lost antitrust...

Persistent link: https://www.econbiz.de/10012857699

Household Debt and Crises of Confidence

Hintermaier, Thomas - 2015

. The house price feeds back on itself by contributing to a liquidity effect, which operates through the value of housing in …

Persistent link: https://www.econbiz.de/10013013592

How Bad is Involuntary Part-Time Work?

Borowczyk-Martins, Daniel - 2016

We use a set of empirical and analytical tools to conduct parallel analyses of involuntary part-time work and unemployment in the U.S. labor market. In the empirical analysis, we document that the similar cyclical behavior of involuntary part-time work and unemployment masks major differences in...

Persistent link: https://www.econbiz.de/10012997428

Business Cycle Effects of Credit and Technology Shocksin a DSGE Model with Firm Defaults

Pesaran, M. Hashem; Xu, TengTeng - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2011

This paper proposes a theoretical framework to analyze the impacts of credit and technologyshocks on business cycle dynamics, where firms rely on banks and households for capitalfinancing. Firms are identical ex ante but differ ex post due to different realizations of firmspecific technology...

Persistent link: https://www.econbiz.de/10009522213

Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults

Pesaran, M. Hashem - 2011

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...

Persistent link: https://www.econbiz.de/10013119292

Uncovering the Mechanism(S) : Financial Constraints and Wages

Arabzadeh, Hamzeh; Balleer, Almut; Gehrke, Britta - 2021

How do wages respond to financial recessions? Based on a dynamic macroeconomic model with frictions in the labor and the financial market, we address two prominent mechanism through which firms' financial constraints amplify unemployment and explore their effect on wages. First, the financial...

Persistent link: https://www.econbiz.de/10013314727

How Does the Economic Uncertainty Affect Asset Prices Under Normal and Financial Distress Times?

Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2022

By using a nonlinear VAR model, we investigate whether the response of the US stock and housing markets to uncertainty … US housing prices, which fell sharply in the economic turmoil, is state-dependent. This reflects the Fed's expansionary … monetary policy to stabilize the US housing market. Furthermore, our findings reveal that economic agents who closely monitor …

Persistent link: https://www.econbiz.de/10013406435

The Effect of School Construction on Test Scores, School Enrollment, and Home Prices

Neilson, Chris - 2011

This paper provides new evidence on the effect of school construction projects on home prices, academic achievement, and public school enrollment. Taking advantage of the staggered implementation of a comprehensive school construction project in a poor urban district, we find that, by six years...

Persistent link: https://www.econbiz.de/10013118273

Saving Lives at Birth : The Impact of Home Births on Infant Outcomes

Daysal, N. Meltem - 2012

Many developed countries have recently experienced sharp increases in home birth rates. This paper investigates the impact of home births on the health of low-risk newborns using data from the Netherlands, the only developed country where home births are widespread. To account for endogeneity in...

Persistent link: https://www.econbiz.de/10013099684

Racial and Ethnic Discrimination in Local Consumer Markets : Exploiting the Army's Procedures for Matching Personnel to Duty Locations

Antecol, Heather - 2011

in finding non-government housing or in patronizing businesses in their local communities. Discrimination is related to a … community results in more housing discrimination amongst minorities. While the evidence that increased competition reduces …

Persistent link: https://www.econbiz.de/10012756957