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METHOD:PUBLISH
BEGIN:VEVENT
UID:3d63a52b42e42ff5ef1be50bad216bf9
CATEGORIES:Seminars
CREATED:20150211T181657
SUMMARY:Ryan McDevitt - Duke University’s Fuqua School of Business
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="line-height: normal; text-align: justify;"><strong><span style="f
 ont-size: 12pt; font-family: 'Times New Roman','serif';">The Elasticity of 
 Demand for Alternative Financial Services: Evidence from Check-Cashing Pric
 e Changes in the South Bronx</span></strong></p><p style="line-height: norm
 al; text-align: justify;"><span style="font-size: 12pt; font-family: 'Times
  New Roman','serif';">Abstract:</span></p><p style="line-height: normal; te
 xt-align: justify;"><span style="font-size: 12pt; font-family: 'Times New R
 oman','serif';">Using proprietary data from customers’ transactions, we est
 imate the elasticity of demand for check-cashing services. Our identificati
 on strategy exploits two key features of the data: one bank unilaterally re
 duced its check-cashing fees while its nearby competitors maintained theirs
  at the state-regulated ceiling. Based on customers’ behavior following the
  price change, we show that a 1 percent change in price affects demand near
 ly nine times as much as a 1 percent change in distance. As New York regula
 tes both check cashers’ fees and locations, we use our findings to evaluate
  the welfare implications of reducing the state rate cap while simultaneous
 ly increasing check cashers’ protected territories.</span></p>
DTSTAMP:20260405T150044Z
DTSTART:20141204T173000Z
DTEND:20141204T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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