ABSTRACT Recent studies have shown that market construction is a dynamic process involving multiple actors in hegemonic and alternative positions. To understand the interconnection of these positions,
The is the replication package for "Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment," accepted in 2022 by the <i>Journal of Political Economy.</i>
The U.S. had 14% fewer exchange-listed firms in 2012 than in 1975. Relative to other countries, the U.S. now has abnormally few listed firms given its level of development and the quality of its insti
