We model asset opacity and deposit rate choices of banks who imperfectly compete for uninsured deposits, are subject to runs, and face a threat of entry. Higher competition increases deposit rates and bank fragility, resulting in an intermediate socially optimal level of bank competition. We...

We examine a deregulation of German pharmacists to assess its effects on retail and labor markets. Our theoretical model suggests that firms with high managerial efficiency open more stores per firm and have higher labor demand due to the reform. We find a sharp persistent increase in entry...

Governments around the world recognise widespread broadband access as a facilitator of economic growth. As a result we observe that many countries have introduced National Broadband Policies which set ambitious targets for broadband coverage. Fixed network may not be commercially viable in more...

We investigate the trade-off between financial stability and competition policy by focusing on the merger of ABN AMRO and Fortis Bank NL in the Dutch retail banking market. The financial crisis delayed the completion of the merger giving rise to anti-competitive behavior in the transitory...

This paper relates to current concerns about the high concentration of digital platform markets and the effects of large companies such as Amazon, Facebook, Google, and Microsoft, on innovation. Several stakeholders and analysts assert that digital platforms have become so dominant that they...