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Bank Competition and Enterprise restructuring in Transition Economies
Schnitzer, Monika - C.E.P.R. Discussion Papers - 1998
We investigate how bank competition affects the efficiency of credit allocation, using a model of spatial competition … loans compared to the social optimum. Finally, we analyse how bank competition affects the firms' restructuring effort. We …
Persistent link: https://www.econbiz.de/10005067568
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Entrepreneurial innovations and taxation
Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2012
leading to more competition in the product market. …
Persistent link: https://www.econbiz.de/10011083431
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Participation Games: Market Entry, Coordination and the Beautiful Blonde
Anderson, Simon P; Engers, Maxim - C.E.P.R. Discussion Papers - 2005
We find the Nash equilibria for monotone n-player symmetric games where each player chooses whether to participate. Examples include market entry games, coordination games, and the bar-room game depicted in the movie 'A Beautiful Mind'. The symmetric Nash equilibrium involves excessive...
Persistent link: https://www.econbiz.de/10005662078
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The Deep Pocket Effect of Internal Capital Markets
Boutin, Xavier; Cestone, Giacinta; Fumagalli, Chiara; … - C.E.P.R. Discussion Papers - 2009
This paper provides evidence that incumbents' access to group deep pockets has a negative impact on entry in product markets. Relying on a unique French data set on business groups, the paper presents three major findings. First, consistent with theoretical predictions, the amount of financial...
Persistent link: https://www.econbiz.de/10005791859
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The European UMTS/IMT-2000 Licence Auctions
Jehiel, Philippe; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2001
Europe has taken the global lead in the issuance of third generation (3G) licences for mobile telecommunications according to the UMTS/IMT-2000 family of standards. We survey the recent European UMTS licence auctions and compare their outcomes with the predictions of a simple auction model that...
Persistent link: https://www.econbiz.de/10005792176
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Procurement with specialized firms
Boone, Jan; Schottmüller, Christoph - C.E.P.R. Discussion Papers - 2011
This paper analyzes optimal procurement mechanisms in a setting where the procurement agency has incomplete information concerning the firms' cost functions and cares about quality as well as price. Low type firms are cheaper than high type firms in providing low quality but more expensive when...
Persistent link: https://www.econbiz.de/10009385768
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Factor Adjustments after Deregulation: Panel Evidence from Colombian Plants
Eslava, Marcela; Haltiwanger Jr, John C; Kugler, Adriana D. - C.E.P.R. Discussion Papers - 2005
In this paper, we analyse employment and capital adjustments using a panel of plants from Colombia. We allow for nonlinear adjustment of employment to reflect not only adjustment costs of labour but also adjustment costs of capital, and vice-versa. Using data from the Annual Manufacturing...
Persistent link: https://www.econbiz.de/10005124008
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Economics and Politics of Alternative Institutional Reforms
Caselli, Francesco; Gennaioli, Nicola - C.E.P.R. Discussion Papers - 2007
(deregulation) and improving contractual enforcement (legal reform). Deregulation fosters entry, thereby increasing the number of … deregulation, as it preserves incumbents' rents, while at the same time allowing the less efficient among them to transfer control …
Persistent link: https://www.econbiz.de/10005124360
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Macroeconomic Effects of Regulation and Deregulation in Goods and Labour Markets
Blanchard, Olivier J; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2001
Product and labour market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … central assumptions: Monopolistic competition in the goods market, which determines the size of rents, and bargaining in the …
Persistent link: https://www.econbiz.de/10005136620
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Deregulation, Integration and Market Structure in European Banking
Gual, Jordi - C.E.P.R. Discussion Papers - 1999
This paper analyzes the impact of deregulation and market integration policies on the structure of European banking … extent to which competition in banking is based on endogenous sunk costs or, alternatively, on variable costs and exogenous … proposes an empirical test of the dominant form of competition. This procedure is applied to data for eleven EU countries …
Persistent link: https://www.econbiz.de/10005067386