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Articles 1 - 5 of 5
Full-Text Articles in Social and Behavioral Sciences
Economies Of Scope For Microfinance: Differences Across Output Measures, Valentina Hartarska, Christopher Parmeter, Denis Nadolynak, Beibei Zhu
Economies Of Scope For Microfinance: Differences Across Output Measures, Valentina Hartarska, Christopher Parmeter, Denis Nadolynak, Beibei Zhu
Christopher F. Parmeter
In banking, scope economies of mobilizing deposits and lending are often estimated, while consideration of the same measures for microfinance institutions (MFI) is still in its infancy. An open issue remains regarding what characterizes an output of an MFI. Moreover, depending on the output used, do estimated scope economies differ? We use a novel data set for over 800 MFI across more than 70 countries to estimate economies of scope. Our findings suggest that statistical differences arise between estimates of scope economies. However, our qualitative findings indicate that both of these measures provide similar overviews of the landscape of scope …
Market Power, Eu Integration And Privatization: The Case Of Romania, Gabriel Asaftei, Christopher Parmeter
Market Power, Eu Integration And Privatization: The Case Of Romania, Gabriel Asaftei, Christopher Parmeter
Christopher F. Parmeter
This paper investigates the effects on pricing behavior of firms in a transition economy resulting from integration into the European Union’s Common Market and changes in ownership. We use a semiparametric model with a rich panel of manufacturing firms in Romania from 1995 to 2003 to estimate firm-level markups. We find that markups are higher in more concentrated industries and less exposed to foreign competition. Trade integration appears to generally increase competitive pressure on markups. Industries exposed to more international competition experience a larger change in markups following integration into the European Union’s Common Market. However, as the initial impact …
Which Hedonic Models Can We Trust To Recover The Marginal Willingness To Pay For Environmental Amenities?, Nicolai Kuminoff, Christopher Parmeter, Jaren Pope
Which Hedonic Models Can We Trust To Recover The Marginal Willingness To Pay For Environmental Amenities?, Nicolai Kuminoff, Christopher Parmeter, Jaren Pope
Christopher F. Parmeter
The hedonic property value model is among our foremost tools for evaluating the economic consequences of policies that target the supply of local public goods, environmental services, and urban amenities. We design a theoretically consistent and empirically realistic Monte Carlo study of whether omitted variables seriously undermine the method’s ability to accurately identify economic values. Our results suggest that large gains in accuracy can be realized by moving from the standard linear specifications for the price function to a more flexible framework that uses a combination of spatial fixed effects, quasi-experimental identification, and temporal controls for housing market adjustment
The Benefit Transfer Challenges, Kevin Boyle, Nicolai Kuminoff, Christopher Parmeter, Jaren Pope
The Benefit Transfer Challenges, Kevin Boyle, Nicolai Kuminoff, Christopher Parmeter, Jaren Pope
Christopher F. Parmeter
Presidential Executive Order 12,866 requires federal agencies to design “cost-effective” regulations and to assess “costs and benefits” of these regulations on the basis of “the best reasonably obtainable scientific, technical, economic, and other information.” Benefit transfers are one economic approach used to estimate these benefits and costs, and the use of existing economic information to predict the effects of new policies is well established. However, advancing the practice of benefit transfers is crucial if economists are to play a role in developing federal policies. We review contributions to the benefit-transfer literature and present a unified conceptual framework to guide the …
Estimation Of Hedonic Price Functions With Incomplete Information, Subal Kumbhakar, Christopher Parmeter
Estimation Of Hedonic Price Functions With Incomplete Information, Subal Kumbhakar, Christopher Parmeter
Christopher F. Parmeter
Existence of persistent price dispersion suggests that some buyers find lower prices through search and information acquisition, while some sellers charge higher prices by gathering information on potential buyers. If buyers are not fully informed of the lowest price available in the market they end up paying a price higher than if they had full information. Similarly, if sellers are not fully informed about the highest price they could charge, they too suffer by receiving a price lower than had they had full information. This paper develops a hedonic price model that incorporates the effects of incomplete information on both …