主题 / Topic：Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
时间 / Time：5月21号（周日）｜May 21 (Sunday), 7:00 - 8:30 PM
地点 / Venue：文泉313｜WENQUAN 313
主讲/ Speaker
Li Bin 博士，2011年至今任国际货币基金组织（IMF）经济学家。于2007年，2009年分别在约翰霍普金斯大学、芝加哥大学任教。同时也为美国经济学协会（American Economic Association）及计量经济学协会（Econometric Society）提供专业服务。她博士和硕士毕业于芝加哥大学，获得Lee prize；本科以最高荣誉毕业于武汉大学，获得经济和数学双学士学位。目前已在国际知名学术期刊如：Review of Economic Dynamics ，International Economics ，Journal of Development Economics，等发表多篇文章。
研究领域/ Research Interests
应用宏观经济、发展和增长、国际金融
Applied Macroeconomics, Development and Growth, and International Finance
摘要/ Abstract
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.
