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Efficient access pricing and endogenous market structure
(Centro de Investigación y Docencia Económicas, División de Economía, 2006)
We analyse a (differentiated good) industry where an incumbent firm owns
a network good (essential input) and faces potential competition in the
(downstream) retail market. Unlike the traditional approach, we consider ...
A general equilibrium analysis of the credit market
(Centro de Investigación y Docencia Económicas, División de Economía, 2009)
I analyse a model of incentive contracts where principals who each
possesses the same monitoring technologies, contract with agents from a
pool of individuals differing in their wealth endowments. Principals and
agents ...
Job matching, competition and managerial incentives
(Centro de Investigación y Docencia Económicas, División de Economía, 2009)
When a manager’s principal task is to organize production more efficiently, the intensity of the product market competition is crucial in determining the nature of firm-manager matching as well as the structure of managerial ...
A two-sided matching model of monitored finance
(Centro de Investigación y Docencia Económicas, División de Economía, 2006)
We analyse a model of two-sided matching and incentive contracts where expert investors (venture capitalists) with different monitoring capacities are matched with firms with different levels of initial wealth. Firms do ...
On the relationship between market power and bank risk taking
(Centro de Investigación y Docencia Económicas, División de Economía, 2009)
We analyse risk-taking behaviour of banks in the context of spatial
competition. Banks mobilise unsecured deposits by offering deposit rates,
which they invest either in a prudent or a gambling asset. Limited liability
along ...
Deposit insurance, bank competition and risk taking
(Centro de Investigación y Docencia Económicas, División de Economía, 2006)
We analyse risk-taking behaviour of banks in the context of a model based
on spatial competition. Banks mobilise deposits by offering deposit rates.
We show that when the market concentration is low, banks invest in ...