sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose …

a high level of competition. What a country produces and how much it competes domestically and internationally are …

policy could strengthen longer-term growth, particularly so where strong product market competition prevents firms from self … policy through the intangible investment channel, and its complementarity with pro-competition product market deregulation …

measures inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real …

This paper shows that competition among regulators reduces regulatory standards relative to a centralized solution. It …

intensity of competition. Data on corporate rates of return, profit margins, and output-capital ratios reveal that the recent …

. The model predicts that as competition increases, both loans and assets increase; however, the effect on the loans …-to-assets ratio is ambiguous. Similarly, as competition increases, the probability of bank failure can either increase or decrease. We …'' probability of failure is negatively and significantly related to measures of competition, and that the loan-to-asset ratio is …

banks can extract market power rents. We show that more bank competition results in lower economy-wide risk, lower bank … capital ratios, more efficient production plans and Pareto-ranked real allocations. Perfect competition supports a second best …