This paper addresses the effects of multimarket contact on firms’ ability to collude. Real world imperfections tend to makes firms’ objective function strictly concave and market supergames ‘interdependent’: firms’ payoffs in each market depend on how they are doing in others. Then,...

In the analysis of China's industrial reforms attention has focused on the declining role of the state sector. However, the emergence of the fast-growing market economy in China since the late 1970s has provided opportunities for traditional large plants to grow into more complex big businesses,...

Liberalisation has had a marked effect on innovative activities in the electricity industry. R&D and patenting activities are generally regarded respectively as innovative inputs to and outputs from technological progress. Electricity reforms have resulted in a reduction in R&D spending in the...

We summarises the main factors that differentiate impacts of the EU ETS on profitability and market share. By examining sampling a range of sectors, we present some simple metrics and indicators to help judge the nature of potential impacts. We also consider briefly the mitigation response to...

This paper considers forecast averaging when the same model is used but estimation is carried out over different estimation windows. It develops theoretical results for random walks when their drift and/or volatility are subject to one or more structural breaks. It is shown that compared to...

In this paper the comparability of two household budget surveys, the 1993 Hungarian Household Budget Survey and the 1993 UK Family Expenditure Survey. Using these data the authors derive measures of total household income and expenditure, and calculate poverty headcounts assuming seven different...