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regulation, banking supervisors should now focus on the externalities that caused the amplification of the shock and use that … externalities. The character and timing of future shocks are unpredictable, but contagion in the propagation mechanisms should be …
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shows that network externalities play a major role in the use of standards, and that, on the other hand, worldwide standards …
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In the economics profession there is a fierce debate whether industrial and innovation policy should be targeted to specific sectors or firms. This paper discusses the welfare effects of such targeted policies from the perspective of strategic game theory of the firm. A theoretical case for...
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