firms. Unconditionally, the most exible-price firms have a 19% higher long-term leverage ratio than the most sticky-price … firms, controlling for known determinants of capital structure. Sticky-price firms increased leverage more than exible-price … time, which we use in a difference-in-differences strategy. Firms' frequency of price adjustment did not change around the …

paradigms, from the New Deal regulatory model that limited price competition and channeled credit to socially useful purposes … the authority of the Federal Reserve, neutralized monetary policy, and invigorated other policy tools to maintain price …

We study the pricing of deposit accounts following a regulation that capped debit card interchange fees in the United …. This link is broadly predicted by the theoretical literature on two-sided markets, but the nature and magnitude of price … competitive response to price changes made by regulated banks. Not accounting for such competitive responses underestimates the …