题目：Innovation, Deregulation, and the Life Cycle of a Financial Service Industry

　　报告人：李彬，经济学家，国际货币基金组织研究部

　　时间：2016年5月22日(周一) 15：00 ～ 17:30

　　地点：经管院B251

　　摘要：This paper examines innovation, deregulation, and firm dynamics over the life cycle of the U.S. ATM and debit card industry. In doing so, we construct a dynamic equilibrium model to study how a major product innovation (introducing the new debit card function) interacted with banking deregulation drove the industry shakeout. Calibrating the model to a novel dataset on ATM network entry, exit, size, and product offerings shows that our theory fits the quantitative pattern of the industry well. The model also allows us to conduct counterfactual analyses to evaluate the respective roles that innovation and deregulation played in the industry evolution.

　　报告人简介：

　　李彬，经济学博士，现任国际货币基金组织研究部经济学家。主要研究方向为宏观经济学、发展经济学和国际金融。本科毕业于武汉大学，2008年博士毕业于美国芝加哥大学。