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Securitization and Compensation in Financial Institutions

Inderst, Roman; Pfeil, Sebastian - C.E.P.R. Discussion Papers - 2010

We analyze the interaction between financial institutions' internal compensation policy, the quality of loans, and their securitization decision. We also assess the case for requiring financial institutions to defer bonus pay so as to make incentives more commensurate with the longer-term risk...

Persistent link: https://www.econbiz.de/10008692310

Elected Versus Appointed Regulators: Theory And Evidence

Besley, Timothy J.; Coate, Stephen - C.E.P.R. Discussion Papers - 2000

This paper contrasts direct election with political appointment of regulators. When regulators are appointed, regulatory policy becomes bundled with other policy issues for which the appointing politicians are responsible. Since regulatory issues are not salient for most voters, regulatory...

Persistent link: https://www.econbiz.de/10005662098

Competition in Electricity Supply: Will '1998' be Worth it?

Green, Richard; McDaniel, Tanga - C.E.P.R. Discussion Papers - 1998

Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers will be allowed to choose their electricity supplier. This promises to result in lower prices, but there will be additional transactions costs exceeding £100 million a year for...

Persistent link: https://www.econbiz.de/10005662134

Manipulation of Metals Futures: Lessons from Sumitomo

Gilbert, Christopher L - C.E.P.R. Discussion Papers - 1997

the world copper market, from at least 1991 until earlier this year. This manipulation has concentrated attention on the … manipulation is not illegal under UK financial services regulation, but that in any case, deterrence is better than prosecution …

Persistent link: https://www.econbiz.de/10005662332

Cable and Satellite - The Market for Programmes

Veljanovski, Cento G - C.E.P.R. Discussion Papers - 1987

The development of cable and satellite television has not occurred as rapidly in the United Kingdom as initially anticipated. The paper examines cable and satellite policy in the context of the Peacock Report's proposals for broadcasting reform. The concept of a national telecommunications grid...

Persistent link: https://www.econbiz.de/10005666401

The Theory of Access Pricing: an Overview for Infrastructure Regulators

Estache, Antonio; Valletti, Tommaso - C.E.P.R. Discussion Papers - 1999

The paper provides policymakers and regulators with an overview of the more relevant theoretical issues related to the pricing of access to ensure that the political debate around practical concerns is solidly grounded. The paper discusses in detail the importance of access pricing in the...

Persistent link: https://www.econbiz.de/10005666499

Commercial Broadcasting in the UK - Over-Regulation and Misregulation?

Veljanovski, Cento G - C.E.P.R. Discussion Papers - 1987

The regulation of commercial television and broadcasting in the United Kingdom has evolved from the principles of … public service broadcasting. Much of this regulation is paternalistic and does not place great emphasis on the most effective … regulation in the light of the recent recommendations of the Peacock Committee. In particular, the objectives of broadcasting are …

Persistent link: https://www.econbiz.de/10005666530

Regulation and Access Pricing with Asymmetric Information

De Fraja, Gianni - C.E.P.R. Discussion Papers - 1995

We study in this paper whether the price charged to a competitor for the use of an essential input produced in conditions of natural monopoly should reflect only considerations of relative efficiency between the various potential suppliers. In a model that captures the technological conditions...

Persistent link: https://www.econbiz.de/10005666686

Natural Resources and Reforms

Amin, Mohammad; Djankov, Simeon - C.E.P.R. Discussion Papers - 2009

economic reforms. We test this hypothesis using data on microeconomic reforms from the World Bank’s Doing Business database …

Persistent link: https://www.econbiz.de/10005666720

Energy Policy Issues after Privatisation

Newbery, David M G - C.E.P.R. Discussion Papers - 1986

The purpose of this paper is to investigate how energy policy should respond to the changes in the organisation of energy sector associated with privatisation. The paper begins with a brief review of how energy policy was perceived before the 1973 oil shock, and the lessons learned from...

Persistent link: https://www.econbiz.de/10005666940