This paper develops a model of equilibrium in the market for loans. It focuses on the effects on equilibrium of (i …) differences in the liability of the lender and the borrower for losses; and (ii) differences in the information available to the … lender. We examine the different types of imperfection in the credit market which arise as a consequence of these differences …

This paper examines the role of liability for past environmental contamination in the privatization processes of …

rates. Further, the S&P 500 market seems to be well integrated, and the NASDAQ is generally (but not always) integrated. The …

assets traded on a given market share the same EMRS. The technique is also powerful enough to reject integration between the …

enterprises for the period 1998 through 2007 to test for complementarity between competition and industrial policy. A main … competition-friendly and therefore more growth-enhancing. …

airport, fibre-to-the-home network, etc.) in a situation in which an incumbent operator has private information about market … to pay more for exclusivity, the higher the demand (the lower the cost), that is precisely when competition yields the … is not used to determine market structure. The Paper further shows that an absence of long-term licencing favours …

Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers … transactions costs exceeding £100 million a year for the first five years. Relative to a counterfactual without competition, there …

We assess the influence of competition and capital regulation on the stability of the banking system. We particularly … market share and scale important for the banks’ cost structures. Our most striking result is that increasing (costly) capital … show that competition improves the monitoring incentives of better quality banks and deteriorates the incentives of lower …