Mostrando recursos 1 - 2 de 2

  1. Non-Sequential Search, Competition and Price Dispersion in Retail Electricity

    Gugler, Klaus; Heim, Sven; Liebensteiner, Mario
    We investigate the impact of consumer search and competition on pricing strategies in Germany's electricity retail. We utilize a unique panel dataset on spatially varying search requests at major online price comparison websites to construct a direct measure of search intensity and combine this information with zip code level data on electricity tariffs between 2011 and 2014. The paper stands out by explaining price dispersion by differing pricing strategies of former incumbents and entrant firms, which are distinct in their attributable shares in informed versus uninformed consumers. Our empirical results suggest causal evidence for an inverted U-shape effect of consumer...
    (application/pdf) - 18-oct-2016

  2. Nonlinearities and Parameter Instability in the Finance-Growth Nexus

    Prettner, Catherine
    This paper offers a re-assessment of the finance-growth nexus in a framework that allows to distinguish between short-run versus long-run effects. Our dataset contains information on 45 developed and developing countries over the period 1995-2011. We make use of the integration and cointegration properties of the data, establish a cointegrating relation and derive the long-run elasticities of per capita GDP with respect to employment, the physical capital stock, and financial development. We employ these results to specify an error correction model and assess whether the years of crisis have changed the relationship between finance and growth. (author's abstract)
    (application/pdf) - 18-oct-2016

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