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UID:3d63a52b42e42ff5ef1be50bad216bf9
CATEGORIES:Seminars
CREATED:20150211T181657
SUMMARY:Ryan McDevitt - Duke University’s Fuqua School of Business
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:The Elasticity of Demand for Alternative Financial Services: Evidence from 
 Check-Cashing Price Changes in the South Bronx\nAbstract:\nUsing proprietar
 y data from customers’ transactions, we estimate the elasticity of demand f
 or check-cashing services. Our identification strategy exploits two key fea
 tures of the data: one bank unilaterally reduced its check-cashing fees whi
 le 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 nearly nine times as much as a 1 per
 cent change in distance. As New York regulates both check cashers’ fees and
  locations, we use our findings to evaluate the welfare implications of red
 ucing the state rate cap while simultaneously increasing check cashers’ pro
 tected territories.\n
DTSTAMP:20260405T145249Z
DTSTART:20141204T173000Z
DTEND:20141204T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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