This study investigates the impact of market structure on the performance of banks in Pakistan. It explicitly tests two competing hypotheses: the Structure-Conduct-Performance paradigm and the Efficient Structure Hypothesis, providing insights into whether profitability stems from market...

This paper develops a theory of bargaining in firm-to-firm trade with two-sided market power. The framework accommodates flexible market structures, yielding analytical expressions for pair-specific markups and pass-through elasticities. In U.S. import data, we estimate strong importer...

The present paper utilizes AnaCredit loan-level data to examine the impact of regional loan market structure on lending rates. The analysis focuses on newly issued loans to small non-financial corporations in the euro area during the monetary policy tightening phase of 2022 and 2023. The...

We study how inflation varies across regions with different income levels and the role of retailer market structure. Using NielsenIQ Retail Scanner and Business Dynamics Statistics data, we document new stylized facts of spatial heterogeneity in food inflation and retailer market structure. From...

In many industries, platforms compete with incumbents that are open to all consumers, whereas platforms require user affiliation. Consequently, platforms face two layers of competition: for the market, to attract users, and in the market, to compete with incumbents. We develop a dynamic model...

We develop a data-driven procedure to identify which correlations in high-dimensional dynamic systems should be time-varying, constant, or zero. The method integrates a vine-based multivariate partial correlation model with sequential penalized estimation. Applied to 50 US equities and...

Online platforms have evolved into powerful programmable architectures that enable heterogeneous groups of autonomous but interdependent users to interact. Based on a stratified sample of 1,380 companies from a newly developed enterprise survey in Austria, the analysis aims to reduce the lack of...

In 2024, the overnight funding market experienced sustained pressure and the benchmark Canadian Overnight Repo Rate Average (CORRA) rose to 7 basis points above the Bank of Canada's target overnight rate. Settlement balances were declining, but hedge fund borrowing also grew by over $30 billion,...

This paper shows that in an economy where distortions prevent firms from using their profit-maximizing amounts of capital and labor, removing these distortions can generate both an efficiency gain and a higher aggregate labor share. We use firm-level data on Chinese manufacturing, mining, and...

This paper examines the welfare implications of priority service in a frictional search environment with heterogeneous outside options. Priority search facilitates expedited matching with public options in the market by charging a service premium. Our main analysis demonstrates that a...

The rapid advancement of artificial intelligence (AI) relies on a complex supply chain comprising five key layers: hardware, cloud infrastructure, training data, foundation models and AI applications. This paper examines the market structure of each layer and highlights the economic forces...

This paper studies the relationship between market concentration and aggregate productivity when firmlevel demand emerges from past marketing investments. Granular firms may invest in demand both to complement their productivity and to amplify market power-this second force can create persistent...

This paper derives a closed-form expression linking aggregate markups on im- ported inputs to concentration in a model of firm-to-firm trade with two-sided market power. Our theory extends standard oligopoly insights in two dimensions. First, it reveals that markups increase with exporter...

El hambre y la desnutrición siguen siendo desafíos de desarrollo críticos en América Central. Desde 2020, han aumentado las tasas de inseguridad alimentaria moderada y grave en toda la región, mientras que los indicadores clave relativos a la nutrición en la primera infancia siguen siendo...

Given the changing landscape of fuel retailing, this study explores the impact of spatial competition and market concentration on diesel prices in Germany. The question of how population density and gas station density, i.e. the equilibrium pattern of locations of firms, are related is examined....

Increasing competition and reducing market power are core interests of economists, regulators and the public to maximise aggregate social welfare. Low prices are achieved through intense competition in the retail gasoline market. The absence of fierce competition is referred to as market power....