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Previous research shows that firms shroud high add-on prices in competitive markets with naive consumers leading to inefficiency. We analyze the effects of regulatory intervention via educating naive consumers on equilibrium prices and welfare. Our model allows firms to shroud, unshroud, or...
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This paper analyzes the influence of the shadow economy on corruption and vice versa. We hypothesize that corruption and shadow economy are substitutes in high income countries while they are complements in low income countries. The hypotheses are tested for a cross-section of 120 countries and...
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country data to study the effect of product market regulation and reform on a country's macroeconomic performance. After a … of product market regulation on mark-ups, firm dynamics, investment, employment, innovation productivity, and output …
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regulation. We focus on two issues that should receive more attention in discussions of Mexican policy. (1) The family is under … heavy burden of monopoly and regulation. We find little evidence that the introduction of social protection programs for …
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"This paper examines capital market effects of changes in securities regulation. We analyze two key capital market … directives in the European Union (EU) that tightened market abuse and transparency regulation and, in particular, their … and transparency regulation. The effects are larger in countries that implement and enforce the directives more strictly …
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