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Quota Brokers

Quota Brokers »

Source: Quota Brokers

Volume/Issue: 2004/179

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451859065

Keywords: Quota licenses, middlemen, competition, standard deviation, perfect competition, simulation results, Market Structure and Pricing: General,

This paper examines the role of middlemen (brokers) in an imperfect secondary market for quota licenses. Middlemen facilitate trade when markets are thin, as potential buyers and sellers find it difficult to meet a...

Product Market Regulation and the Benefits of Wage Moderation

Product Market Regulation and the Benefits of Wage Moderation »

Source: Product Market Regulation and the Benefits of Wage Moderation

Volume/Issue: 2005/191

Series: IMF Working Papers

Author(s): Marcello Estevão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

ISBN: 9781451862102

Keywords: Structural change, product market, labor market, reforms, wage, unemployment, employment, unemployment rate, Market Structure and Pricing: General,

Euro-area real wages have decelerated sharply in the last 20 years, but this has not yet translated into visibly lower unemployment or faster growth. Weak output growth after such a cost shock is somewhat puzzling...

Pricing Debit Card Payment Services

Pricing Debit Card Payment Services »

Source: Pricing Debit Card Payment Services : An IO Approach

Volume/Issue: 2003/202

Series: IMF Working Papers

Author(s): Alexander Tieman , and Wilko Bolt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

ISBN: 9781451874426

Keywords: Debit card payment systems, two-sided monopolistic pricing, social optimum, prices, pricing, payment systems, payments, monopoly, Market Structure, Firm Strategy

This paper presents a theoretical framework for analyzing pricing structures in debit card schemes featuring cardholders, retailers, their respective banks, and a network routing switch. The network routing switch...

Counterfeit Goods and Income Inequality

Counterfeit Goods and Income Inequality »

Source: Counterfeit Goods and Income Inequality

Volume/Issue: 2001/13

Series: IMF Working Papers

Author(s): Stefania Scandizzo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

ISBN: 9781451843002

Keywords: Consumer goods, Economic models, Income distribution, counterfeit goods, vertical product differentiation, inequality, product differentiation, market structure, consumer surplus, patent protection

This paper examines the effect of counterfeit goods in a world where consumers are differentiated by level of income and innovation is quality enhancing. Counterfeit goods are defined as products with the same char...

Social Welfare and Cost Recovery in Two-Sided Markets

Social Welfare and Cost Recovery in Two-Sided Markets »

Source: Social Welfare and Cost Recovery in Two-Sided Markets

Volume/Issue: 2005/194

Series: IMF Working Papers

Author(s): Wilko Bolt , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

ISBN: 9781451862133

Keywords: Two-sided markets, social optimum, cost recovery, operational losses, pricing, social welfare, prices, payment systems, demand functions, Market Structure

Using a simple model of two-sided markets, we show that, in the social optimum, platform pricing leads to an inherent cost recovery problem. This result is driven by the positive externality of participation that u...

Sovereign Credit Ratings Methodology

Sovereign Credit Ratings Methodology »

Source: Sovereign Credit Ratings Methodology : An Evaluation

Volume/Issue: 2002/170

Series: IMF Working Papers

Author(s): Ashok Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451858433

Keywords: early warning, risk, sovereign, vulnerability, bonds, bond, financial system, sovereign default, external debt, Market Structure and Pricing: General

This paper describes and evaluates the sovereign credit ratings methodologies of Standard & Poor's, Moody's Investors Service, and Fitch Ratings. A simple definition of ratings failure-based on ratings stability-is...

Asean Bond Market Development

Asean Bond Market Development »

Source: Asean Bond Market Development : Where Does it Stand? Where is it Going?

Volume/Issue: 2011/137

Series: IMF Working Papers

Author(s): Mahmood Pradhan , Shanaka Peiris , Mangal Goswami , Dulani Seneviratne , Joshua Felman , Andreas Jobst , and Simon Gray

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455265428

Keywords: ASEAN, market development, bond market, capital inflows, securities, capital markets, General Equilibrium and Disequilibrium: General, Financial Markets and the Macroeconomy, Financial Aspects of Economic Integration, Market Structure And Pricing

Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond markets. Yet today these markets are not much larger, relative to GDP, than they were a decade bef...

The Monetary Policy Regime and Banking Spreads in Barbados

The Monetary Policy Regime and Banking Spreads in Barbados »

Source: The Monetary Policy Regime and Banking Spreads in Barbados

Volume/Issue: 2006/211

Series: IMF Working Papers

Author(s): Laura Valderrama , and Wendell Samuel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2006

ISBN: 9781451864717

Keywords: Interest rate spreads, Monetary policy regime, bank spreads, banking, bank size, deposit rate, financial intermediation, Market Structure and Pricing: Oligopoly and Other Forms of Market Imperfection,

The paper analyzes the determinants of banking spreads in Barbados, with a view to identifying the role of the monetary policy regime in explaining high spreads. The paper finds that interest rate spreads for Barba...

South Africa

South Africa »

Source: South Africa : The Cyclical Behavior of the Markups and its Implications for Monetary Policy

Volume/Issue: 2011/204

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2011

ISBN: 9781463902155

Keywords: Counter-cyclical markups, output gap-inflation co-movement, inflation, gdp deflator, monetary economics, inflation targeting framework, Market Structure and Pricing: Oligopoly and Other Forms of Market Imperfection,

The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis finds that the aggregate level of the private sector's markup is relatively high, thus pointing to...

Assessing Bank Competition within the East African Community

Assessing Bank Competition within the East African Community »

Source: Assessing Bank Competition within the East African Community

Volume/Issue: 2012/32

Series: IMF Working Papers

Author(s): Sarah Sanya , and Matthew Gaertner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781463933173

Keywords: East African Community, H-statistic, Lerner Index, banking system, banking sector, Economic History: Financial Markets and Institutions: General, International, or Comparative, Market Structure And Pricing,

This paper is an empirical analysis of competitiveness in the banking system of four out of the five East African Community (EAC) countries2. The results show that the degree of competition is low due to a combinat...