welfare increases with the number of big firms because the pro-competitive effect associated with entry dominates the …

of monetary policy and can affect households' welfare. This study uses a model with money-in-the-utility function to …' seigniorage revenue, holding foreign money can be welfare generating if domestic currency depreciates vis-à-vis the currencies in …

The welfare impact of a merger involves the market power offense and the efficiency defense. Salant et al. (1983) show … for a profitable merger to increase welfare but leave open whether it exists. We characterize the degree of cost asymmetry …, we show that for most industry structures, a rationalization merger is more likely to be welfare enhancing but a synergy …

to study its welfare effects. The market outcome crucially depends on the bargaining power attributed to the agents. I …

impact of the A-D policy on quality choices is taken into account, European Welfare as well as profits accruing to the …

We analyze the welfare consequences of an increase in the commissions charged by intermediaries in auction markets. We …

and then study the welfare implications of countries' choices. It turns out that a country with a higher degree of … a higher welfare level. Our results call for coordinated and harmonized immigration policies that may improve the … welfare of both countries. …