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An empirical assessment of the 2004 EU merger policy reform

Duso, Tomaso; Gugler, Klaus; Szücs, Florian - 2010

Based on a database of 326 merger cases scrutinized by the European Commission between 1990 and 2007, we evaluate the economic impact of the change in European merger legislation in 2004. We first propose a general framework to assess merger policy effectiveness, which is based on standard...

Persistent link: https://www.econbiz.de/10008822615

Cartel duration and endogenous private monitoring and communication : an instrumental variables approach

Zhou, Jun - 2012

Colluding firms often exchange private information and make transfers within the cartels based on the information. Estimating the impact of such collusive practices" - known as the 'lysine strategy profile (LSP)" - on cartel duration is difficult because of endogeneity and omitted variable bias....

Persistent link: https://www.econbiz.de/10009571067

Exploring the opaqueness of the patent system : evidence from a natural experiment

Harhoff, Dietmar; Stoll, Sebastian - 2015

One of the objectives of patent systems is to disclose information which other agents can build on in further inventions and in their decision-making. While some observers take it as given that real-world patent systems serve this objective, we argue in this article that patent systems are...

Persistent link: https://www.econbiz.de/10010516621

Does anonymity matter in electronic limit order markets?

Foucault, Thierry; Moinas, Sophie; Theissen, Erik - 2004 - This Draft: May, 2004

We develop a model of limit order trading in which some traders have better information on future price volatility. As limit orders have option-like features, this information is valuable for limit order traders. We solve for informed and uninformed limit order traders' bidding strategies in...

Persistent link: https://www.econbiz.de/10010361995

Fiscal rules and fiscal performance in the EU and Japan

Hagen, Jürgen von - 2006

such rules in Japan and in the EU. Comparing the performance of fiscal policy in the 1980s and 1990s until 2003, we find … rule of the Maastricht Treaty had a significant impact on political budget cycles in the EU, but did little to constrain … fiscal rule in the EU has vanished. Next, we discuss the importance of budgetary institutions for the effectiveness of fiscal …

Persistent link: https://www.econbiz.de/10010374865

Effectiveness of bailouts in the EU

Glowicka, Ela - 2006

Governments in the EU frequently bail out firms in distress by granting state aid. I use data from 86 cases during the …

Persistent link: https://www.econbiz.de/10010383040

Bailouts in a common market : a strategic approach

Glowicka, Ela - 2005

Governments in the EU grant Rescue and Restructure Subsidies to bail out ailing firms. In an international asymmetric …

Persistent link: https://www.econbiz.de/10010383044

The impact of horizontal mergers on rivals : gains to being left outside a merger

Clougherty, Joseph A.; Duso, Tomaso - 2008

It is commonly perceived that firms do not want to be outsiders to a merger between competitor firms. We instead argue that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert-identification of relevant rivals and the event-study...

Persistent link: https://www.econbiz.de/10010364303

Opportunistic termination

Stremitzer, Alexander - 2008

If a seller delivers a good non-conforming to contract, European and US warranty law allows consumers to choose between some money transfer and termination. Termination rights are, however, widely criticized, mainly for fear that the buyer may use non-conformity as a pretext for getting rid of a...

Persistent link: https://www.econbiz.de/10010365843

How to determine whether regional markets are integrated? : theory and evidence from European electricity markets

Gebhardt, Georg; Höffler, Felix - 2008

Prices may differ between regional markets if transport capacities are limited. We develop a new approach to determine to which extent such differences stem from limited participation in cross-border trader rather than from bottlenecks. We derive a theoretical integration benchmark for the...

Persistent link: https://www.econbiz.de/10010365847