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Replication data for: The Effect of Mergers in Search Markets: Evidence from the Canadian Mortgage Industry

Version
1
Resource Type
Dataset
Creator
  • Allen, Jason
  • Clark, Robert
  • Houde, Jean-François
Publication Date
2014-10-01
Description
  • Abstract

    We examine the relationship between concentration and price dispersion using variation induced by a merger in the Canadian mortgage market. Since interest rates are determined through a search and negotiation process, consolidation weakens consumers' bargaining positions. We use reduced-form techniques to estimate the mergers' distributional impact, and show that competition benefits only consumers at the bottom and middle of the transaction price distribution, and that mergers reduce the dispersion of prices. We illustrate that these effects can be explained by the presence of search frictions, and that the average effect of mergers on rates underestimates the increase in market power.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.104.10.3365 (Text)
Publications
  • Allen, Jason, Robert Clark, and Jean-François Houde. “The Effect of Mergers in Search Markets: Evidence from the Canadian Mortgage Industry.” American Economic Review 104, no. 10 (October 2014): 3365–96. https://doi.org/10.1257/aer.104.10.3365.
    • ID: 10.1257/aer.104.10.3365 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Allen, Jason; Clark, Robert; Houde, Jean-François (2014): Replication data for: The Effect of Mergers in Search Markets: Evidence from the Canadian Mortgage Industry. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112701V1