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Bank ownership and credit over the business cycle: Is lending by state banks less procyclical?

Bertay, Ata Can; Demirguc-Kunt, Asli; Huizinga, Harry - C.E.P.R. Discussion Papers - 2012

This paper finds that lending by state banks is less procyclical than lending by private banks, especially in countries with good governance. Lending by state banks in high income countries is even countercyclical. On the liability side, state banks expand potentially unstable non-deposit...

Persistent link: https://www.econbiz.de/10011084194

Fiscal spending for economic growth in the presence of imperfect markets

Islam, Asif; López, Ramón - C.E.P.R. Discussion Papers - 2011

Political economy factors tend to induce many governments to spend on private goods (non-social subsidies) to the detriment of spending on social and public goods. We show that this bias in spending patterns is particularly costly for economic growth when capital markets are imperfect. We thus...

Persistent link: https://www.econbiz.de/10009385765

Consolidating the Water Industry: An Analysis of the Potential Gains from Horizontal Integration in a Conditional Efficiency Framework

Zschille, Michael - C.E.P.R. Discussion Papers - 2012

efficiency improvements through consolidation. Focusing on a hypothetical restructuring of the industry, we apply Data … Envelopment Analysis (DEA) to analyze the potential efficiency gains from mergers between water utilities at the county level. A … conditional efficiency framework is used to account for the operating environment. Highest efficiency improvement potentials turn …

Persistent link: https://www.econbiz.de/10011083827

Legal vs Ownership Unbundling in Network Industries

Cremer, Helmuth; Crémer, Jacques; De Donder, Philippe - C.E.P.R. Discussion Papers - 2006

This paper studies the impact of legal unbundling vs ownership unbundling on the incentives of a network operator to invest and maintain its assets. We consider an industry where the upstream firm first chooses the size of a network, while several downstream firms then compete in selling goods...

Persistent link: https://www.econbiz.de/10005136450

Enhancing the Efficiency of Water Supply – Product Market Competition versus Trade

Foellmi, Reto; Meister, Urs - C.E.P.R. Discussion Papers - 2011

competition by common carriage between adjacent utilities are valuable alternatives to improve the industry’s efficiency, even … have similar effects. This paper analyzes and compares the relevant welfare gains and shows that production efficiency and …

Persistent link: https://www.econbiz.de/10009493560

Structural Adjustment, Efficiency, and Economic Growth

Gylfason, Thorvaldur - C.E.P.R. Discussion Papers - 1994

reform and free trade and by thus enhancing macroeconomic efficiency at full employment. Second, the static output gain from …

Persistent link: https://www.econbiz.de/10005504204

Pricing Patents for Licensing in Standard Setting Organisations: Making Sense of FRAND Commitments

Layne-Farrar, Anna; Padilla, Atilano Jorge; … - C.E.P.R. Discussion Papers - 2007

We explore potential methods for assessing whether licensing terms for intellectual property declared essential within a standard setting organization can be considered fair, reasonable, and non-discriminatory (FRAND). We first consider extending Georgia-Pacific to a standard setting context. We...

Persistent link: https://www.econbiz.de/10005504215

Individual Protection Against Property Crime: Decomposing the Effects of Protection Observability

Hotte, Louis; van Ypersele, Tanguy - C.E.P.R. Discussion Papers - 2005

We revisit the question of the efficiency of individual decisions to be protected against crime for the cases of both …

Persistent link: https://www.econbiz.de/10005504304

Simultaneous Search with Heterogeneous Firms and Ex Post Competition

Gautier, Pieter A; Wolthoff, Ronald - C.E.P.R. Discussion Papers - 2007

sector. But, efficiency requires that they apply to both sectors because a higher matching rate in the high …

Persistent link: https://www.econbiz.de/10005504344

Decentralized Trade, Entrepreneurial Investment and the Theory of Unemployment

Coles, Melvyn G - C.E.P.R. Discussion Papers - 1996

This paper considers an equilibrium model of unemployment in a labour market where all vacancies are advertised in a newspaper. Unemployment occurs in occupations that are short on vacancies. New vacancies are created by entrepreneurial search and investment, so it may take some time before an...

Persistent link: https://www.econbiz.de/10005504418