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|c 5.00 USD
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|z 9781513537733
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Hayashi, Fumiko.
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|a Innovation, Deregulation, and the Life Cycle of a Financial Service Industry /
|c Fumiko Hayashi, Grace Li, Zhu Wang.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2015.
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|a 1 online resource (42 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper examines innovation, deregulation, and firm dynamics over the life cycle of the U.S. ATM and debit card industry. In doing so, we construct a dynamic equilibrium model to study how a major product innovation (introducing the new debit card function) interacted with banking deregulation drove the industry shakeout. Calibrating the model to a novel dataset on ATM network entry, exit, size, and product offerings shows that our theory fits the quantitative pattern of the industry well. The model also allows us to conduct counterfactual analyses to evaluate the respective roles that innovation and deregulation played in the industry evolution.
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|a Mode of access: Internet
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|a Li, Grace.
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|a Wang, Zhu.
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|a IMF Working Papers; Working Paper ;
|v No. 2015/192
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2015/192/001.2015.issue-192-en.xml
|z IMF e-Library
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