Many countries prohibit large shareholdings in their domestic banks. The authors examine whether such a restriction restrains competition in a duopolistic loan market. Blockholders may influence managers' output decisions by choosing capital structure, as in Brander and Lewis (1986). For the...

In a search model of production, where agents accumulate heterogenous amounts of human capital, an individual worker’s wage depends on average human capital in the searching population. Based on this model, this paper estimates a Mincerian wage equation augmented with terms for average human...

In a search model of production, where agents accumulate heterogeneous amounts of human capital, an individual worker's wage depends on average human capital in the searching population. Following this model, the authors use a large American panel data set to estimate a Mincerian wage equation...