Based on a database of 326 merger cases scrutinized by the European Commission between 1990 and 2007, we evaluate the economic impact of the change in European merger legislation in 2004. We first propose a general framework to assess merger policy effectiveness, which is based on standard...

We propose a general framework to assess merger policy effectiveness based on standard oligopoly theory and stock market reactions. We focus on four different dimensions of effectiveness: 1) legal certainty, 2) decision errors, 3) reversion of anti-competitive rents, and 4) deterrence. We apply...

Based on a database of 326 merger cases scrutinized by the European Commission between 1990 and 2007, we evaluate the economic impact of the change in European merger legislation in 2004. We first propose a general framework to assess merger policy effectiveness, which is based on standard...

Energy sectors-primarily power generation and gas production, but also energy transmission and distribution-require significant capital investment in infrastructure. Market structures as well as the degree of competition and regulation are key factors that determine firms' incentive to invest....

Der Energiesektor zeichnet sich durch den Bedarf an kapitalintensiven Investitionen in Infrastruktur aus - vor allem in der Stromerzeugung und der Gasgewinnung, aber auch in der Energieübertragung und -verteilung. Sowohl die Marktstrukturen als auch der Grad an Wettbewerb und Regulierung sind...

We analyze the pass-through of cost changes to retail tariffs in the German electricity market over the 2007 to 2014 period. We find an average pass-through rate of around 60%, which significantly varies with demand factors: while the pass-through rate to baseline tariffs, where firms have...

Der Energiesektor zeichnet sich durch den Bedarf an kapitalintensiven Investitionen in Infrastruktur aus - vor allem in der Stromerzeugung und der Gasgewinnung, aber auch in der Energieübertragung und -verteilung. Sowohl die Marktstrukturen als auch der Grad an Wettbewerb und Regulierung sind...