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This paper investigates political uncertainty as a source of regulatory risk. It shows that political parties have incentives to reduce regulatory risk actively: Mutually beneficial pre-electoral agreements that reduce regulatory risk always exist. Agreements that fully eliminate it exist when...
Persistent link: https://www.econbiz.de/10010266082
I investigate the argument that, in a twoparty system with different regulatory objectives, political uncertainty generates regulatory risk. I show that this risk has a fluctuation effect that hurts both parties and an outputexpansion effect that benefits one party. Consequently, at least one...
Persistent link: https://www.econbiz.de/10010270703
The EU agenda for improving competitiveness is missing in action. Economic competitiveness has been a central plank in the development of the European Union - a relentless quest for policies that lead to more prosperity and that make European companies in world markets more successful. However,...
Persistent link: https://www.econbiz.de/10014560176
The existence and the use of the essential facilities doctrine was questioned in theory and in practice. Although the … doctrine was developed in antitrust, it became a frequently cited notion in the regulation of network utilities. Its relevance … the doctrine in competition polcy and regulation in the EU and Hungary. The next section is devoted to the controversies …
Persistent link: https://www.econbiz.de/10010494409
antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics … including its cartel culture. Our analysis disentangles the effects of traditional antitrust regulation and the leniency program …
Persistent link: https://www.econbiz.de/10010325912
I find that current US's and EU's Antitrust laws -- in particular their "moderate"' leniency programmes that only reduce or at best cancel sanctions for price-fixing firms that self-report -- may make collusion enforceable even in one-shot competitive interactions, like Bertrand oligopolies and...
Persistent link: https://www.econbiz.de/10011608616
We study the nature of individual demands for environmental regulation and for trade openness in the general … respect to the stringency of regulation. Moreover, even though trade has the potential to benefit everyone, the poor may … oppose trade openness because of a concern that laxer environmental regulation will then be imposed in the interest of the …
Persistent link: https://www.econbiz.de/10010264525
floor, however, a Demsetz auction is worse than no regulation at all of the bottleneck monopoly. Our results apply beyond …
Persistent link: https://www.econbiz.de/10010369132
Pigovian tax. In particular, earmarking prevails and actual taxes are usually combined with regulation. Furthermore tax rates … explain these design parameters: the tax rate, earmarking pattern and whether the tax is combined with a regulation. An … introduced in equilibrium which rate is lower than the regulatory shadow price when the status quo regulation is imperfectly …
Persistent link: https://www.econbiz.de/10011335760
Given heterogeneity in incomes and health risks, with asymmetric information in the latter, preferences over the public-private mix in health insurance and care are derived. Results concerning crowding-out in the presence of adverse selection are established. For low-risk individuals,...
Persistent link: https://www.econbiz.de/10010443330