, we analyze firm misreporting, auditor monitoring and competition, and regulatory policy in a unified model. A federated …

importance of risk-weighted capital in prudential regulation have more likely contributed to distorted ratings than the matter of …

insurance for the elderly. Theoretically, the effect of these standards on insurance coverage and on welfare is ambiguous. I … consequences of minimum standards. The final section of the paper considers the welfare implications of the changes in risk bearing … conservative assumptions, welfare reducing on net …

disclosure requirements that exist in these markets. We show that reducing the number of charlatans through regulation decreases … the resulting reduction in competition amongst producers. Producers, on the other hand, strictly benefit from the … regulation, implying that the regulation we observe in these markets likely derives from producer interests. Using these insights …

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 …

the effects of upstream competition vary with distance to frontier on a panel of 15 OECD countries and 20 sectors over … 1985-2007. Competitive pressures are proxied with sectoral product market regulation data. We find evidence that …