The large and growing industry of price comparison websites (PCWs) or ‘web aggregators’ is poised to benefit consumers by increasing competitive pricing pressure on firms acquainting shoppers with more prices. However, these sites also charge for sales, which feeds back raise I investigate the impact introducing PCWs a market homogeneous good. find that single PCW increases prices all consumers...

This note argues about a central analytical inconsistency of Ericson and Pakes (1995). Notwithstanding the explicit claims of the article, the formal hypotheses employed there imply that a firm’s investments do not affect both the evolution of this firm and the dynamics of the whole industry. JEL Classification Numbers: C62, D57, E13, L11.

We examine the match/mismatch between demand and supply of impact investments. show that some geographic regions display an upward match, while others exhibit a downward match. explain how with well-developed (or less-developed) economies are not necessarily equal to investment markets. also highlight sectors exhibiting match or mismatch investments, potential reasons. Regarding both sector con...

In theory, regulators concerned about inequality will deviate from efficient two-part tariffs, charging lower-than-efficient fixed monthly fees and higher-than-efficient per-kilowatt-hour prices. To quantify that relationship, we develop a measure of the redistributive extent utility tariffs: “electric Gini.” Utilities with higher electric Ginis shift more costs households using relatively litt...

After the Great Recession several central banks started setting negative nominal interest rates in an expansionary attempt, but effectiveness of this measure remains unclear. Negative can stimulate economy by lowering that commercial charge on loans, they also erode bank profitability squeezing deposit spreads. This paper studies effects a new DSGE model where intermediate transmission monetary...

This paper shows that larger auctions are more efŽ cient than smaller ones, but that despite this scale effect, two competing and otherwise identicalmarkets or auction sites of different sizes can coexist in equilibrium. We Ž nd that the range of equilibrium market sizes depends on the aggregate buyer–seller ratio, and also whether the markets are especially thin. (JEL: D44, L11)

Custodians play a key but discrete role in the global financial market infrastructure. In Europe, they are licensed as “credit institutions ”, legal requirement for European deposit-taking institutions, and therefore face same prudential requirements “traditional” banks. However, their business model risk profile different from those of traditional banks since core activity does not encompass b...

Orthopaedic injuries comprise a majority of combat injuries seen in recent US military conflicts. The development and increased use of modern body armor, which has been correlated with decreased chest and upper abdominal injuries (Mabry et al., 2000), will likely continue to result in an increased relative rate of extremity injuries. These injuries commonly present with significant open bone fr...

سابقه و هدف: آب هوای یک منطقه در دوره بلندمدت را اقلیم گویند. شناسایی طبقه‌بندی اقلیمی از دیرباز مورد توجه متخصصان هواشناسی بوده است. محققان با به کارگیری روش ­های مختلف استفاده متغیرهای همچون بارش دما، زمین مناطق همگن طبقه ­بندی کرده‌اند نتایج پهنه‌بندی ارزیابی کمبود منابع مقیاس­ های کوچک بزرگ منظور پیش‌بینی اقدامات عملی برای کنترل خشکی آسیب‌پذیر به‌کار برده‌اند. هدف این تحقیق به‌‌روزرسانی تحل...