This paper develops a new way to estimate cost synergies from mergers without using actual data on cost. The estimator uses a structural model in which companies play a dynamic game with endogenous mergers and product repositioning decisions. Such a formulation has several benefits over the...

Based on developments in the U.S. television, this study illustrates the choice of technical standards by the government. Broadcasting in the U.S. has been largely affected by the adoption of new technology. Technology adoptions have impacted economy, society, industry, and government policies...

In his chapter in the forthcoming book Antitrust Stories (Foundation Press, Eleanor Fox and Dan Crane editors), Steve Calkins relates the saga that included the landmark Broadcast Music case. It's a great story peopled with colorful characters - and one in which amicii, both in Broadcast Music...

This paper develops a way to estimate fixed-cost efficiencies from mergers. The estimates might be used to assess the total welfare impact of retrospective and counterfactual mergers. The procedure uses a structural model in which companies play a dynamic game with endogenous mergers and...

The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A particular focus is on the size of monetary policy committees, the degree of centralization, and the representation of relative economic size in the voting rights of regional (or...

This policy paper on science-industry technology transfer has four emphases: the rationale of recent changes in German science policy, the contribution of diverse transfer channels to economic development as well as the role of IPR in that context, the differences in the institutional framework...