Robert Clark

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Resolving Failed Banks: Uncertainty, Multiple Bidding & Auction Design

Staff Working Paper 2019-30 Jason Allen, Robert Clark, Brent Hickman, Eric Richert
Bank resolution is costly. In the United States, the Federal Deposit Insurance Corporation (FDIC) typically resolves failing banks by auction.

Price Negotiation in Differentiated Products Markets: Evidence from the Canadian Mortgage Market

Staff Working Paper 2012-30 Jason Allen, Robert Clark, Jean-François Houde
This paper measures market power in a decentralized market where contracts are determined through a search and negotiation process. The mortgage industry has many institutional features which suggest competitiveness: homogeneous contracts, negotiable rates, and, for a given consumer, common lending costs across lenders.

Price Competition and Concentration in Search and Negotiation Markets: Evidence from Mortgage Lending

Staff Working Paper 2012-4 Jason Allen, Robert Clark, Jean-François Houde
This paper examines the impact of bank consolidation on mortgage rates in order to evaluate the extent to which mortgage markets are competitive. Mortgage markets are decentralized and so rates are determined through a search and negotiation process.

Discounting in Mortgage Markets

Staff Working Paper 2011-3 Jason Allen, Robert Clark, Jean-François Houde
This paper studies discounting in mortgage markets. Using transaction-level data on Canadian mortgages, we document that over time there's been an increase in the average discount, along with substantial dispersion.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial Institutions, Financial services JEL Code(s): D, D4, G, G2, G21, L, L0

Market Structure and the Diffusion of E-Commerce: Evidence from the Retail Banking Industry

Staff Working Paper 2008-32 Jason Allen, Robert Clark, Jean-François Houde
This paper studies the role that market structure plays in affecting the diffusion of electronic banking. Electronic banking (and electronic commerce more generally) reduces the cost of performing many types of transactions for firms.

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