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When the financial positions of pension funds worsen, regulations prescribe that pension funds reduce the gap between their assets (invested contributions) and their liabilities (accumulated pension promises). This paper quantifies the business cycle effects and distributional implications of...
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informational problems. We show that, as a consequence of this trade-off, more intense competition in unregulated segments of the … can lead to a softer merger policy when competition is weaker. …
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of regulation on R&D investment. Nearing competition has a dampening effect on R&D spending, but once the market and … regulatory framework conditions have been established, higher levels of competition positively influence R&D. Our results further … indicate that the relation between competition and innovative investment can be described as inverted U-shaped. Finally, we …
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In 2000, there were as many countries served by a single mobile network as by network competition. Today, only 30 … low coverage, inefficient duplication of costs and lack of competition. To date, the authors are not aware of such single … light on the expected performance of single wholesale networks. The key result is that countries with network competition …
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