This paper analyses how different types of access regulation to next generation networks affect investments and consumer welfare. The model consists of an investment stage with uncertain returns and subsequent quantity competition. The access price is a function of investment costs and the...

The ladder of investment is a regulatory approach that has been used by European National Regulatory Authorities (NRAs), in order to foster infrastructure competition among operators. the idea is to force incumbent operators to open several levels of access to their network in such a way that...

This testimony before the United States Senate Committee on the Judiciary Subcommittee on Crime and Drugs focuses on two issues: to what extent should investment bankers have fiduciary duties to investors? And should there be criminal liability for willful breach of these duties? The testimony...

Liberalization of network industries frequently separates the network from the other parts of the industry. This is important in particular for the electricity industry where private firms invest into generation facilities, while network investments usually are controlled by regulators. We...

One commonly held view about the difference between continental European countries and other OECD countries, especially the United States, is that the heavy regulation of Europe reduces its growth. Using newly assembled data on regulation in several sectors of many OECD countries, we provide...

This article studies the impact of regulatory uncertainty on an incumbent’s incentives to undertake the socially optimal investments in NGA networks. Thus, a regulatory non-commitment setting in which the regulator sets the access price after the deployment of the NGA network is used. In...

This paper analyses how different types of access regulation to next generation networks affect investments and consumer welfare. The model consists of an investment stage with uncertain returns and subsequent quantity competition. The access price is a function of investment costs and the...

This paper provides a perspective from two economic regulators on the way in which economic regulation in the UK has developed over time. Regulation has delivered great benefits, but its development has been at odds with expectations at the time of privatisation. In particular, effective...

The purpose of the transparency on the risk profile of non-equity investment products is to allow investors to take informed investment decisions. In an international framework characterized by an increasing globalization of markets and a growing integration of banking, asset management and...

The duties imposed on broker-dealers and investment advisers have been fiercely debated in Congress, at the U.S. Treasury Department, and at the U.S. Securities and Exchange Commission. The Dodd-Frank Wall Street Reform and Consumer Protection Act required the SEC to evaluate the standards of...