Labor courts play an important role in determining the effective level of labor market regulation in Germany, but their …

-post with the private firms. This ex-post contracting set-up allows more flexibility than traditional regulation where …The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation …. The government maximizes total surplus but incurs some cost of public funds. An alternative to regulation is proposed in …

We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation … firms and in the amount of funding they seek. The model can encompass collusion between clients and auditors, arising from …

regulation -most notably when the number of firms in the market is low. The paper shows that R&D, FDI and trade liberalization … given market size; a continuum of firms; complete information and homogeneous goods, there is usually a margin for … can improve welfare, and that they can be complements or imperfect substitutes to the need for market regulation. It is …

both of private ownership and the regulation of the privatized industries which has followed. This paper reviews the … arguments for such policy, and describes the use of efficiency and productivity studies, both in undertaking the regulation …

Monetary and Financial Policies—Securities Regulation for Italy. The paper discusses that in the area of securities … regulation, the objectives and responsibilities of the two supervisory authorities, namely Consob and the Banca d’Italia (BI …