In this paper, we study the effects of tax-exempt debt on the supply of charity care of non-profit hospitals. We hypothesize that hospitals using tax-exempt rather than taxable debt are forced to provide higher levels of charity care as a condition for gaining access to the tax-exempt market....

This paper analyses growth, size, and variance of the capital, assets, and pre-tax profits of large international banks during 1987-97.We test hypotheses on whether size matters. It turns out that there is an inverse relationship between the amount of bank capital, assets, and profits and the...

By the begining of 1997 resale price maintenance was legally enforceable on only two groups of products in the UK, books and non-prescription medicines. The Net Book Agreement had been in existence substantially unchanged, for close on 100 years. It amounted to a horizontal agreement amongst...

This is a condensed antitrust analysis of the proposed merger of two leading bakers of white pan bread. The traditional structural analysis is supplemented by merger simulation, which estimates the likely price effects of the merger.

This paper first shows that, in the absence of long-term production commitments, time-consistent monopolistic sellers of a wasting natural resource will underconserve their resource. Since the present values of the profits of these uncommitted monopolists are generally much lower than under...