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DellAriccia, Giovanni; Garibaldi, Pietro - C.E.P.R. Discussion Papers - 2000

This paper contributes to the empirical and theoretical knowledge of gross credit flows: the simultaneous process of … summarizes heterogeneity in the banking industry by estimating gross credit flows for the entire US banking system between 1979 … and 1999. The empirical exercise shows that sizeable gross flows coexist at any phase of the cycle, even within narrowly …

Persistent link: https://www.econbiz.de/10005124031

Investor Interest and Hedge Fund Returns

Ramadorai, Tarun - C.E.P.R. Discussion Papers - 2010

Employing a new dataset of over 9,000 expressed demands for over 700 hedge funds from a secondary market for hedge funds, this paper finds evidence suggesting that hedge fund investors rationally anticipate future hedge fund performance. Both buy and sell indications of interest arrive following...

Persistent link: https://www.econbiz.de/10008692307

Regulation Games

Gilbert, Richard; Newbery, David M G - C.E.P.R. Discussion Papers - 1988

We examine regulation as a repeated game between a regulator and a utility facing a Markovian sequence of demands. Sunk capital would be expropriated by a regulator concerned only with the short-run interests of consumers. There exist rate of return regulatory policies supporting efficient...

Persistent link: https://www.econbiz.de/10005792339

Can Competition Replace Regulation for Small Utility Customers?

Green, Richard - C.E.P.R. Discussion Papers - 2000

Many utility markets are now being opened to competition, and some regulators have expressed the hope that this will make the regulation of consumer prices unnecessary. In this paper, entrants offer (differentiated) 'added value', but consumers incur a switching cost if they buy from one of...

Persistent link: https://www.econbiz.de/10005136643

Structural Adjustment, Efficiency, and Economic Growth

Gylfason, Thorvaldur - C.E.P.R. Discussion Papers - 1994

reform and free trade and by thus enhancing macroeconomic efficiency at full employment. Second, the static output gain from …

Persistent link: https://www.econbiz.de/10005504204

Pricing Patents for Licensing in Standard Setting Organisations: Making Sense of FRAND Commitments

Layne-Farrar, Anna; Padilla, Atilano Jorge; … - C.E.P.R. Discussion Papers - 2007

We explore potential methods for assessing whether licensing terms for intellectual property declared essential within a standard setting organization can be considered fair, reasonable, and non-discriminatory (FRAND). We first consider extending Georgia-Pacific to a standard setting context. We...

Persistent link: https://www.econbiz.de/10005504215

Individual Protection Against Property Crime: Decomposing the Effects of Protection Observability

Hotte, Louis; van Ypersele, Tanguy - C.E.P.R. Discussion Papers - 2005

We revisit the question of the efficiency of individual decisions to be protected against crime for the cases of both …

Persistent link: https://www.econbiz.de/10005504304

Simultaneous Search with Heterogeneous Firms and Ex Post Competition

Gautier, Pieter A; Wolthoff, Ronald - C.E.P.R. Discussion Papers - 2007

sector. But, efficiency requires that they apply to both sectors because a higher matching rate in the high …

Persistent link: https://www.econbiz.de/10005504344

Decentralized Trade, Entrepreneurial Investment and the Theory of Unemployment

Coles, Melvyn G - C.E.P.R. Discussion Papers - 1996

This paper considers an equilibrium model of unemployment in a labour market where all vacancies are advertised in a newspaper. Unemployment occurs in occupations that are short on vacancies. New vacancies are created by entrepreneurial search and investment, so it may take some time before an...

Persistent link: https://www.econbiz.de/10005504418

Who Integrates?

Bühler, Stefan; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2003

We examine vertical backward integration in oligopoly. Analysing a standard linear Cournot model, we find that for wide parameter ranges (i) some firms integrate, while others remain separated, and (ii) efficient firms are more likely to integrate vertically. Adopting a reduced-form approach, we...

Persistent link: https://www.econbiz.de/10005504590