(deregulation) and improving contractual enforcement (legal reform). Deregulation fosters entry, thereby increasing the number of … deregulation, as it preserves incumbents' rents, while at the same time allowing the less efficient among them to transfer control …

Product and labour market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … central assumptions: Monopolistic competition in the goods market, which determines the size of rents, and bargaining in the …

This paper analyzes the impact of deregulation and market integration policies on the structure of European banking … extent to which competition in banking is based on endogenous sunk costs or, alternatively, on variable costs and exogenous … proposes an empirical test of the dominant form of competition. This procedure is applied to data for eleven EU countries …