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Yakovlev, Evgeny; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2007

exogenous variation in regulation generated by the interaction of reform and its institutional determinants, we find a … health. The results support public choice theory of the nature of regulation and are inconsistent with the predictions of …

Persistent link: https://www.econbiz.de/10005667109

The European Bond Markets Under EMU

Pagano, Marco; von Thadden, Ernst-Ludwig - C.E.P.R. Discussion Papers - 2004

-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the euro area bond market as a … single one. Primary and secondary bond markets have become increasingly integrated on a pan-European scale. Issuance of … public ones, and by the greater liquidity of secondary markets. Bond yields have converged dramatically in the transition to …

Persistent link: https://www.econbiz.de/10005791915

Europe's 'New' Stock Markets

Bottazzi, Laura; Da Rin, Marco - C.E.P.R. Discussion Papers - 2002

The creation of Europe’s ‘new’ stock markets represents a major experiment in market design with important implications for the ability to support innovative, fast-growing companies. We evaluate the success of these markets based on a large number of measures of firm performance and...

Persistent link: https://www.econbiz.de/10005123860

Does the Separation of Regulatory Powers Reduce the Threat of Capture? Evidence from the US Maritime Bureaucracy

Uribe, Marín; Luis, Pedro; Sicotte, Richard - C.E.P.R. Discussion Papers - 2003

Recent economic theories have investigated the susceptibility of diverse public bureaucratic structures to capture by private industry. In particular, Laffont and Martimort (1999) propose that the separation of regulatory powers will reduce the threat of capture. We analyse investor reaction to...

Persistent link: https://www.econbiz.de/10005504380

Third Party Monitoring and Golden Parachutes

Iossa, Elisabetta; Legros, Patrick - C.E.P.R. Discussion Papers - 2001

When today’s actions can affect tomorrow's value of an asset and when the principal does not have access to hard information, either about productive activity or monitoring activity, two incentive problems must be simultaneously solved: first, the ‘ex-ante’ moral hazard problem of inducing...

Persistent link: https://www.econbiz.de/10005504381

Law Enforcement under Incomplete Law: Theory and Evidence from Financial Market Regulation

Pistor, Katharina; Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2003

the history of financial market regulation. …

Persistent link: https://www.econbiz.de/10005504579

Footloose Monopolies: Regulating a "National Champion"

Calzolari, Giacomo; Scarpa, Carlo - C.E.P.R. Discussion Papers - 2007

We analyze the design of optimal regulation of a domestic monopolist that also competes in an unregulated foreign … market. We show how foreign activities by the regulated firm affect domestic regulation, consumers’ surplus and firm …

Persistent link: https://www.econbiz.de/10005504706

Price Squeezes in a Regulatory Environment

Bouckaert, Jan; Verboven, Frank - C.E.P.R. Discussion Papers - 2003

practitioners and economists, taking the existing regulatory environment as fixed. Based on the degree of existing regulation (full …

Persistent link: https://www.econbiz.de/10005497999

Excesses and Limits of the Public Sector in the Italian Economy. The Ongoing Reform

Schioppa, Padoa; Kostoris, Fiorella - C.E.P.R. Discussion Papers - 1994

This paper provides factual evidence on the extent of public intervention in the Italian economy. It further illustrates the internal contradictions and weaknesses of public action in Italy. New policy proposals to solve old structural problems of the Bel Paese are then discussed. Among them, a...

Persistent link: https://www.econbiz.de/10005498095

More Insiders, More Insider Trading: Evidence from Private Equity Buyouts

Acharya, Viral V; Johnson, Tim - C.E.P.R. Discussion Papers - 2007

study stock, option, bond, and CDS markets. Suspicious stock and options activity is associated with more equity …. They are unlikely to be consistent with models of optimal regulation. …

Persistent link: https://www.econbiz.de/10005498160