Senior Fellows/Fellows

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Senior Fellows/Fellows

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Feb 2017

Production Flexibility, Misallocation And Total Factor Productivity

Ping WANG, Burak R. URAS
Economy-wide institutional deficiencies causing factor misallocation have been emphasized as essential determinants of aggregate TFP differences. This paper argues that production flexibility at the micro-level is an economic characteristic that should be given priority in TFP aggregation exercises....
Keywords: Total factor productivity, production flexibility, factor misallocation
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Feb 2022

The Efficiency of A Dynamic Decentralized Two-sided Matching Market

Chenyu YANG, ZhiXi WAN, Tracy Xiao LIU
This paper studies a decentralized dynamic matching market by using data from a Chinese ride-sharing platform to estimate a model of search and matching between drivers and passengers. We measure passenger valuations of trips, driver preferences, distributions of planned search length, and waiting c...
Keywords: Dynamic Matching, Moment Inequality
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Jan 2022

FinTech Lending and Cashless Payments

Pulak GHOSH, Yao ZENG, Boris VALLEE
This study provides a new perspective on the rise of FinTech lending by uncovering an informational synergy with cashless payments. Theoretically, FinTech lenders screen borrowers more efficiently when borrowers use cashless payments that produce transferable and verifiable information. In turn, bec...
Keywords: FinTech, Lending, payments, verifiability, data sharing, open banking
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Dec 2021

Merger Analysis in the App Economy: An Empirical Model of Ad-Sponsored Media

Kohei KAWAGUCHI, Toshifumi KURODA, Susumu SATO
In the mobile app market, multiple monetizing policies such as paid and free ad-sponsored models co-exist. This paper proposes a novel model of ad-sponsored media with endogenous business model choice, that is applicable to the mobile app industry. The model defines an equilibrium over consumers’ ...
Keywords: Merger simulation, market definition, SSNIP, antitrust policy, ad-sponsored media, platform transaction fee, app economy, distributed word representation.
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Oct 2021

Digitization and Artificial Intelligence: Challenges and Opportunities for Policy

Susan ATHEY
Keywords: AI, machine learning, autonomy, service delivery
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