determines how changes in trade frictions affect allocative efficiency in an oligopoly model of international trade, decomposing …

and exit decisions in a dynamic oligopoly model (a la Bajari et al (2007)) and use it to analyse redesign activity in the …

firms are more likely to anger consumers. Regulation can increase welfare, for example, through fines (even if there are no … changes in prices). We illustrate these gains in a monopoly setting, where regulation affects welfare through 3 channels (i) a …); (ii) regulation calms down existing consumers because a reduction in the profits of an "unkind" firm increases total …

. In a straightforward application of the theory of the second best, I show that incomplete regulation can welfare dominate … complete regulation of emissions from an asymmetric oligopoly. The model is used to simulate greenhouse gas emissions from …For political, jurisdictional and technical reasons, environmental regulation of industrial pollution is often …

The outreach of macroprudential policies is likely limited in practice by imperfect regulation enforcement, whether due … to shadow banking, regulatory arbitrage, or other regulation circumvention schemes. We study how such concerns affect the …