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Discussion Paper
A model of duopoly and meeting or beating competition

Research Papers in Banking and Financial Economics , Paper 87

Working Paper
Competition and credit and debit card interchange fees: a cross-country analysis

This paper seeks to provide a bridge between the theoretical and empirical literatures on interchange fees. Specifically, the paper confronts theory with practice by asking, to what extent do existing models of interchange fees match up with actual interchange fee practices in various countries? For each of four countries?Australia, the Netherlands, the UK, and the United States?models that ?best? fit the competitive and institutional features of that country?s payment card market are identified, and the implications of those model are compared to actual practices. Along what competitive ...
Payments System Research Working Paper , Paper PSR WP 05-03

Journal Article
Evolution in banking competition

An abstract for this article is not available.
Economic Review , Volume 67 , Issue Mar , Pages 3-10

Journal Article
Wal-Mart in the Ninth District: Who, when and how

Background on Wal-Mart in the Ninth District and explanation on the design of the fedgazette's research.
Fedgazette , Volume 20 , Issue Jan , Pages 8-9

Working Paper
The timing of consumer arrivals in Edgeworth's duopoly model

In his classic Papers relating to Political Economy (1897), Francis Edgeworth demonstrated that when duopolists have limited productive capacity, there may be no Nash equilibrium in prices. One feature of Edgeworth's model is that consumers are assumed to meet with the duopolists at the same time. ; This paper analyzes a version of the Edgeworth model in which consumers arrive sequentially instead of simultaneously. This departure from Edgeworth's framework should seem reasonable since there are few markets besides auctions in which buyers all meet with sellers at the same time. ; The point ...
International Finance Discussion Papers , Paper 328

The impact of competition on technology adoption: an apples-to-PCs analysis

We study the effect of market structure on a personal computer manufacturer?s decision to adopt new technology. This industry is unusual because there exist two horizontally segmented retail markets with different degrees of competition: the IBM-compatible (or PC) platform and the Apple platform. We first document that, relative to Apple, producers of PCs typically have more frequent technology adoption, shorter product cycles, and steeper price declines over the product cycle. We then develop a parsimonious vintage-capital model that matches the prices and sales of PC and Apple products. The ...
Staff Reports , Paper 462

Globalization and inflation dynamics: the impact of increased competition

This paper analyzes the potential effect of global market competition on inflation dynamics. It does so through the lens of the Calvo model of staggered price setting, which implies that inflation depends on expected future inflation and a measure of marginal costs. I modify the assumption of a constant elasticity of demand, standard in this model, to provide a channel through which an increase in the number of traded goods may affect the degree of strategic complementarity in price setting and hence alter the dynamic response of inflation to marginal costs. I first discuss the behavior of ...
Staff Reports , Paper 324

Journal Article
Capital formation and competitiveness

FRBSF Economic Letter



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Wirtz, Ronald A. 9 items

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