The right to use US radio frequency spectrum is extremely valuable. Unlike most property rights, licenses to use radio spectrum are granted for limited terms and carry significant restrictions on how the radio spectrum is used. Economic efficiency suggests that existing license rights should be...

This paper studies the innovation response of upstream technology suppliers when their downstream technology buyers transition from regulation to product market competition. First, we develop a theoretical framework that models this particular organizational structure. Second, we use the US...

This paper investigates the effect of ownership and competition on Indian bank productivity since the 1991 reforms. We find that Indian private banks dominate the public and foreign banks both in terms of productivity levels and productivity growth, with the new Indian private banks leading the...