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Reform of the European Union financial supervisory and regulatory architecture and its implications for Asia

Darvas, Zsolt M.; Schoenmaker, Dirk; Véron, Nicolas - 2016

2007, and especially in the euro area after 2010. That crisis triggered major changes to European financial regulation and …

Persistent link: https://www.econbiz.de/10011613840

Economic Integration and Investment Incentives in Regulated Industries

Auriol, Emmanuelle; Biancini, Sara - C.E.P.R. Discussion Papers - 2009

The paper studies the impact of market integration on investment incentives in non-competitive industries. It distinguishes between investment in transportation and production cost-reducing technologies. Each domestic firm is controlled by a national regulator in a common market made of two...

Persistent link: https://www.econbiz.de/10005012490

Government Outsourcing: Public Contracting with Private Monopoly

Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2006

The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation … to regulation is proposed in which firms are free to enter the market and to choose their price and output levels … than traditional regulation where governments commit to both investment and operation cash-flows. This is especially …

Persistent link: https://www.econbiz.de/10005067470

A Theory of BOT Concession Contracts

Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2011

In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries entice...

Persistent link: https://www.econbiz.de/10008921773

Can supranational infrastructure regulation compensate for national institutional weaknesses?

Auriol, Emmanuelle; Estache, Antonio; Wren-Lewis, Liam - 2017

Persistent link: https://www.econbiz.de/10011673406

Public Procurement and Rent-Seeking: The Case of Paraguay

Auriol, Emmanuelle; Flochel, Thomas; Straub, Stéphane - C.E.P.R. Discussion Papers - 2011

A model of entrepreneurial choices in an economy with a corrupt public procurement sector is built, providing predictions along two main dimensions. First, corruption is more frequent in sectors where public institutions are large buyers. Second, firms favoured with corrupt contracts enjoy extra...

Persistent link: https://www.econbiz.de/10008865969

Sale of Visas: A Smuggler's Final Song?

Auriol, Emmanuelle; Mesnard, Alice - C.E.P.R. Discussion Papers - 2012

We study how smugglers respond to different types of migration policies - legalisation through the sale of migration visas, or more traditional repressive policies through borders' enforcement, employers' sanctions or deportation - by changing the price they propose to illegal migrants. In this...

Persistent link: https://www.econbiz.de/10011083587

The grand divergence : global and European current account surpluses

Darvas, Zsolt M. - 2015

Global current account imbalances widened before the 2007/2008 crisis and have narrowed since. While the post-crisis adjustment of European current account deficits was in line with global developments (though more forceful), European current account surpluses defied global trends and increased....

Persistent link: https://www.econbiz.de/10011308003

Does money matter in the Euro Area? : evidence from a new Divisia index

Darvas, Zsolt M. - 2014

Standard simple-sum monetary aggregates, like M3, sum up monetary assets that are imperfect substitutes and provide different transaction and investment services. Divisia monetary aggregates, originated from Barnett (1980), are derived from economic aggregation and index number theory and aim to...

Persistent link: https://www.econbiz.de/10010423794

Productivity, labour cost and export adjustment : detailed results for 24 EU countries

Darvas, Zsolt M. - 2012

Persistent link: https://www.econbiz.de/10009564376