MARÍA EUGENIA
DELFINO
Profesora Asociada, ESE Business School
Directora Executive MBA, ESE Business School
Área de Interés
Economía Industrial Aplicada, Dirección Estratégica
“La educación es el arma más poderosa para cambiar el mundo”.
Nelson Mandela
¿Quién es?
Soy profesora asociada y directora del Executive MBA en el ESE Business School. Obtuve mi Doctorado en Economía Industrial en la University of Warwick (Reino Unido). Antes de incorporarme al ESE, formé parte del área de Estrategia del IAE Business School (Argentina) donde me desempeñé como profesora y directora de estudios del MBA full time. También fui asistente de investigación y de docencia en la University of Warwick (Reino Unido).
Mis intereses de investigación están relacionados con la interacción estratégica en los mercados, con foco en la concentración y la dinámica de entrada en las industrias. Otra área de interés está vinculada con el desempeño de las empresas en industrias reguladas con especial foco en las diferencias entre economías más y menos desarrolladas.
ESTUDIOS
- PhD Economics, University of Warwick
- MSc Economics & Finance, University of Warwick
- Contador Público, Universidad Nacional de Córdoba
Publicaciones Destacadas
Otras publicaciones
- Squeezing both Sides? Bank Concentration and Market Power. We consider the dual nature of the banking industry and estimate a structural model that examines market power both in the loan market and the deposit market in Argentina. We find that a substantial concentration of the industry led to reduced competition and higher bank profitability, which based on significant reductions in marginal costs despite lower loan rates. We also find that the usual assumption of exogenous deposit interest rates provides a downward assessment of the extent of market power in the loan market, and that banks price deposits above their standalone marginal benefit to take advantage of imperfect competition in the loan market.
- Market Power Absent Merger Review: Brewing in Peru (with A. Casarin and M. Cornejo). Review of Industrial Organization, 2019, Pages 1-22. We examine the extent of market power in the brewing market of Perú, where the absence of preventive merger review eased consolidation into a single industrial brewer. We use a standard oligopoly model and exploit both seasonality in demand and atypically large and frequent variations in the structure and level of excise taxes to identify variations in market power. Our results provide evidence of the ineffectiveness of competition policy as uncontested mergers resulted in a degree of market power that decreased only with the entry of new firms. https://doi.org/10.1007/s11151-019-09703-8
- Price Freezes, Durables and Residential Electricity Demand (with A. Casarin). Energy Economics. Volume 33 (5), 2011, Pages 859-869. This paper examines the determinants of residential electricity demand in Greater Buenos Aires between 1997 and 2006. During the second half of this period, residential electricity tariffs remained nominally fixed, while rising incomes increased sales of durables. Our study is one of few that use monthly data to examine the contribution of prices to residential consumption growth, and it appears to be the first time-series study to explicitly consider the impact of air conditioners on residential demand. Results indicate that durables have an impact on residential electricity demand. Simulations illustrate how prices, income, and durables impact future demand. https://doi.org/10.1016/j.eneco.2011.01.014