reduce costs through either internal investment in building capital or through mergers. The model, which we solve …. In general, antitrust policy can greatly affect firms' optimal investment behavior, and firms' investment behavior can in …

reduction depends on the extent of the regulator's commitment: if it is possible to commit to the chosen policy, then the market …

the United States, is that the heavy regulation of Europe reduces its growth. Using newly assembled data on regulation in … several sectors of many OECD countries, we provide substantial and robust evidence that various measures of regulation in the … product market, concerning in particular entry barriers, are negatively related to investment. The policy implication of our …

The paper studies the impact of market integration on investment incentives in non-competitive industries. It … distinguishes between investment in transportation and production cost-reducing technologies. Each domestic firm is controlled by a … investment in cost-reducing technology compared to autarky. This is in contrast with the systematic underinvestment problem …

We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …

This Paper compares education investment in closed and open economies without government and with a benevolent … education and increases private individuals' incentives for investment in their human capital. Globalization can improve welfare …

. Second, we show that the commitment (time inconsistent) solution does not normally involve zero inflation and output at its …, we show that the timeless perspective policy has the same steady state as the commitment case, but without any short …

This Paper studies an advantage of commitment over discretion when a central bank observes only noisy measures of … current inflation and output, in the context of an optimizing model with nominal-price stickiness. Under a commitment regime …