Open borders imply systems competition. This paper studies the implications of systems competition for the national … competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since …

capacity on competition among" generators. We show that there may be no relationship between the effect of a transmission line …" in spurring competition and the actual electricity that flows on the line. We then investigate the" equilibria that are … relatively small investments in transmission may yield surprisingly large" payoffs in terms of increased competition …

Using proprietary individual level loan data, this paper explores the economic consequences of the 2009 bank entry …

We examine the effect of US branch banking deregulations on the entry size of new firms using micro-data from the US … Census Bureau. We find that the average entry size for startups did not change following the deregulations. However, among … maximum size in the first year. The magnitude of these effects were small compared to the much larger changes in entry rates …

competition among large countries (US/EU) to negotiate preferential arrangements with smaller countries or regions will lower … entirely in the WTO by 2015. In key non commodity trade areas (services, investment, intellectual property, temporary entry of …

Although policymakers often discuss tradeoffs between bank competition and stability, past research provides differing … theoretical perspectives and empirical results on the impact of competition on risk. In this paper, we employ a new approach for … competition materially boosts bank risk. With respect to the mechanisms, we find that competition reduces bank profits, charter …

Does an intensification of competition among banks increase or decrease liquidity creation? By integrating the dynamic … process of interstate bank deregulation that lowered barriers to competition across U.S. states over the 1980s and 1990s with … facing each individual bank. We find that regulatory-induced competition reduced liquidity creation. Consistent with some …