April 2000 - Empirical evidence indicates a strong correlation between long-run growth and effective enforcement of antitrust and competition policy. The relationship between the intensity of competition in an economy and its long-run growth is an open question in economics. Theoretically, there...

Empirical evidence indicates a strong correlation between long-run growth and effective enforcement of antitrust and competition policy. The relationship between the intensity of competition in an economy and its long-run growth is an open question in economics. Theoretically, there is no...

We empirically evaluate a behavioural model with boundedly rational traders who disagree about the persistence of deviations from the fundamental stock price. Fundamentalist traders believe in mean-reversion, while chartists extrapolate trends. Agents gradually switch between the two rules,...