When does the prime rate change?

Article Abstract:

The frequency of prime rate changes is examined with the prime rate characterized as a time-series variable that can only be altered at a cost. The resulting logit model, in which market variables influence the probability of prime rate changes, is tested using a data set that provides information on the dating of such changes. Findings suggest that adjustment costs are crucial to prime rate changes and that adjustments in exogenous factors have a greater impact on the likelihood of a prime rate increase than decrease.

Commercial Banks, Commercial Banking, Research, Banking industry, Prices and rates, Bank fees, Bank loans

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Efficiency in the savings and loan industry

Article Abstract:

Article modifies the stochastic economic cost frontier approach to examine efficiency of mutual and stock S&Ls using 1991 data on US S&Ls. This approach allows both the cost frontier and error structures to differ between mutual and stock S&Ls. A likelihood ratio test demonstrates that the data support this approach, implying that when efficient the two types of S&Ls used different production technologies. On average stock S&Ls were found to be less efficient than mutual S&Ls.

Federal savings institutions, Evaluation, Industrial efficiency, Economic efficiency, Savings and loan associations

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Switching costs and adverse selection in the market for credit cards: new evidence

Article Abstract:

Factors affecting switching costs of consumers, which is the cost incurred by customers when they change their products, in credit card market are examined.

Europe, Marketing procedures, Research Findings, Personal credit institutions, Analysis, Economic aspects, Credit and debit card industry, Credit card industry, Consumer preferences, Marketing research, Market research

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