In this paper, I examine duopoly with multi-services, where firms offer delivery prices and mill prices at the same time, and each consumer chooses one of them. In the equilibria, firms specialize in delivery services even if their transport costs are higher than consumers'. This result is...

The EU agenda for improving competitiveness is missing in action. Economic competitiveness has been a central plank in the development of the European Union - a relentless quest for policies that lead to more prosperity and that make European companies in world markets more successful. However,...

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete in a differentiated loan market, hold reserves against liquidity shocks, and refinance in the interbank market. A merger creates an internal money market that induces financial...