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The Competition between Competition Rules
Sinn, Hans-Werner - 2021
profits. Instead of such an equilibrium, a deregulation race is likely to emerge in which all but the last country repeal … their antitrust laws. The deregulation race results in a chain of Stackelberg leadership positions taken over by national …
Persistent link: https://www.econbiz.de/10013227744
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Japan's Big Bang and the Transformation of Financial Markets
Ito, Takatoshi - 2010
A first step in the 'big bang' markets was the deregulation of the foreign exchange market on April 1, 1998. This paper … the deregulation. Intra-day data are analyzed with the following results: (1) Holding constant the effects of volume and … volatility, the deregulation was associated with a convergence of Japanese quoted spreads toward those of other banks. (2 …
Persistent link: https://www.econbiz.de/10012763769
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Estimating the Welfare Effects of Digital Infrastructure
Greenstein, Shane M.; Spiller, Pablo T. - 2021
While much economic policy presumes that more information infrastructure yields higher economic returns, little empirical work measures the magnitudes of these returns. We examine investment by local exchange telephone companies in fiber optic cable, ISDN lines and signal seven software,...
Persistent link: https://www.econbiz.de/10013234348
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The Evolution of Advanced Large Scale Information Infrastructure in the United States
Greenstein, Shane M.; Lizardo, Mercedes M.; Spiller, … - 2021
Is private industry investing in backbone digital technology in a manner consistent with social policy? To address this question we assemble highly disaggregate data and compute indices for the geographic distribution of advanced backbone information technology in computing and...
Persistent link: https://www.econbiz.de/10013240319
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Pricing Capital Under Mandatory Unbundling and Facilities Sharing
Pindyck, Robert S. - 2021
The regulation of telecommunications, railroads, and other network industries has been based on mandatory unbundling and facilities sharing - entrants have the option to lease part or all of incumbents' facilities if and when they desire, at rates determined by regulators. This flexibility is of...
Persistent link: https://www.econbiz.de/10013243961
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Mandatory Unbundling and Irreversible Investment in Telecom Networks
Pindyck, Robert S. - 2021
This paper addresses the impact on investment incentives of the network sharing arrangements mandated by the Telecommunications Act of 1996, with a focus on the implications of irreversible investment. Although the goal is to promote competition, the sharing rules now in place reduce incentives...
Persistent link: https://www.econbiz.de/10013247857
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A New Era of Midnight Mergers : Antitrust Risk and Investor Disclosures
Barrios, John Manuel; Wollmann, Thomas - 2023
Antitrust authorities search public documents to discover anticompetitive mergers. Thus, investor disclosures may alert them to deals that would otherwise escape scrutiny, creating disincentives for managers to divulge transactions. We study this behavior in publicly traded US companies. First,...
Persistent link: https://www.econbiz.de/10014353404
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Why We Need to Measure the Effect of Merger Policy and How to Do it
Carlton, Dennis W. - 2010
In this article, I explain the inadequacy of our current state of knowledge regarding the effectiveness of antitrust policy towards mergers. I then discuss the types of data that one must collect in order to be able to perform an analysis of the effectiveness of antitrust policy. There are two...
Persistent link: https://www.econbiz.de/10012757872
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Antitrust
Kaplow, Louis - 2010
This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...
Persistent link: https://www.econbiz.de/10012760415
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Antitrust in the Not-for-Profit Sector
Philipson, Tomas - 2010
Despite the conceptual differences between for-profit and non-profit firms stressed in conventional economic analyses of the non-profit sector, U.S. antitrust law generally does not distinguish between these two organizational forms. This paper argues that the same incentives to restrain trade...
Persistent link: https://www.econbiz.de/10012761672