develop a novel framework for directly evaluating the strategic foreclosure effect and the effciency benefits associated with … vertical integration. Applying this framework, we find significant evidence for both vertical foreclosure and effciency … benefits. The foreclosure effect dominates the effciency benefits for more than half of the refining firms in the sample …

develop a novel framework for directly evaluating the strategic foreclosure effect and the efficiency benefits associated with … vertical integration. Applying this framework, we find significant evidence for both vertical foreclosure and efficiency … benefits. The foreclosure effect dominates the efficiency benefits for more than half of the refining firms in the sample …

development of the Internet into a high-speed communications network. In the absence of ubiquitous, high-speed ¡°broadband …¡± Internet connections for residential and small-business customers, the demand for IT equipment and new Internet service …

We assess the credit market impact of allowing mortgage "strip-down" as a foreclosure-prevention measure, where strip … effective foreclosure-prevention program, because it would have only small and transient effects on the supply of mortgage loans. …