The relationship between market structure and advertising has been extensively studied, but has generated sharply opposing theoretical predictions, as well as inconclusive empirical findings, likely due to severe endogeneity concerns. We exploit the 2008 merger of Miller and Coors in the U.S....

This paper surveys the literature on the price effects of horizontal mergers. The majority of mergers that have been examined in the nine studies conducted over the past 22 years resulted in increased prices for both the merging parties and rival firms, at least in the short run. There is some...

The challenge of effective merger enforcement is tremendous. U.S. antitrust agencies must, by statute, quickly forecast the competitive effects of mergers that occur in virtually every sector of the economy to determine if mergers can proceed. Surprisingly, given the complexity of the regulators...

Using data from the Continuing Survey of Food Intake by Individuals, this paper describes the shape of consumption profiles over the month for Social Security benefit recipients. Individuals with income mostly made up of Social Security benefits and who have some savings smooth consumption over...

Enforcement efforts are the primary approach to reduce illegal drug use in the U.S., but evidence on their effectiveness is mixed. We provide new evidence on the effectiveness of enforcement efforts by using rich administrative records and the staggered implementation of state laws targeting...

Retrospective analyses of hospital mergers may be uniquely valuable because they speak directly to two important issues - the methods used for delineating relevant geographic markets in hospital merger analysis, and the implications of not-for-profit status on post-merger hospital pricing - that...

The challenge of effective merger enforcement is tremendous. U.S. antitrust agencies must, by statute, quickly forecast the competitive effects of mergers that occur in virtually every sector of the economy to determine if mergers can proceed. Surprisingly, given the complexity of the regulators...