This paper examines (1) the change in commercial banks’ risk taking as states in the United States removed restrictions on bank branching within state borders and (2) the channels through which the removal of these restrictions affect bank risk taking. I find that, after the liberalization of...

Vegyes oligopóliumoknak nevezzük az olyan piacszerkezeteket, amelyek esetében a magánvállalatok mellett állami vállalatok is tevékenykednek. A vegyes oligopóliumokban az állami vállalatok részben vagy egészében a társadalmi többletet kívánják maximalizálni. Olyan vegyes...

Az Európai Bizottság a magyarországi hosszú távú villamosenergia-szerződések vizsgálata során arra a következtetésre jutott, hogy azok gátolják az egységes liberalizált energiapiac létrehozását, ezért előírta megszüntetésüket. A cikk a szerződések érintettjei közül...

A tanulmány Magyarország tejvertikumának piaci viselkedését elemzi 1995 és 2003 között. Egyrészt azt vizsgálja, hogy a tejvertikumon belül a piaci hatásoknak megfelelően alakultak-e az egyes vertikumszakaszok árai, másrészt hogy a vertikum mely szereplői vannak a legnagyobb...

This study derives pure strategy Bertrand equilibria in a duopoly in which two firms produce a homogeneous good with convex cost functions and seek to maximize the weighted sum of their absolute and relative profits. The study shows that there exists a range of equilibrium prices in duopolistic...

There is a short period, at the eve of the Second World War, where the development of macroeconomic theory pushed imperfect competition to the fore. During this period called by Shackle the ‘years of high theory’, many issues concerning income distribution and the trade cycle were raised....

TNF-alpha inhibitors represent one of the most important areas of biopharmaceuticals by sales, with three blockbusters accounting for 8 per cent of total pharmaceutical sale in Norway. Novelty of the paper is to examine, with the use of a unique natural policy experiment in Norway, to what...

This paper studies the impact of financial constraints on the persistency of high markups in a class of markets, including most of public procurement, known by practitioners as bidding markets. We develop an infinite horizon model in which two firms optimally reinvest working capital and bid for...

This paper analyzes the incentives to invest in Next Generation Access Networks (NGA) in a framework with horizontal product differentiation with price competition between an investing and an access seeking firm. Given uncertainty about the success of the NGA, I compare regulatory regimes with...

The main purpose of this paper is to model the role of the narco-insurgency in the structure and functioning of the colombian cocaine market. The narco-insurgency gets important profits from this market by controlling the land for producing coca-leaf, and the production of inputs for trading...