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Regulatory Structure in Futures Markets : Jurisdictional Competition Among the Sec, the Cftc, and Other Agencies

Kane, Edward J. - 2010

establishes an evolutionary mechanism for adapting regulatory structures to technological and regulation-induced innovation. Using …

Persistent link: https://www.econbiz.de/10012760344

Patent Rights, Product Market Reforms, and Innovation

Aghion, Philippe - 2014

Can patent protection and product market competition complement each other in enhancing incentives to innovate? In this paper, we address this question by investigating how innovation responses to a substantial policy initiative increasing product market competition interact with the strength of...

Persistent link: https://www.econbiz.de/10013064451

Money and Politics : The Effects of Campaign Spending Limits on Political Competition and Incumbency Advantage

Avis, Eric - 2017

This paper examines the effects of campaign spending limits on political competition and incumbency advantage. We study a reform in Brazil that imposed limits on campaign spending for mayoral elections. These limits were implemented with a discontinuous kink which we exploit for causal...

Persistent link: https://www.econbiz.de/10012954449

Reliability and Competitive Electricity Markets

Joskow, Paul L.; Tirole, Jean - 2021

Despite all of the talk about deregulation' of the electricity sector, a large number of non-market mechanisms have been imposed on emerging competitive wholesale and retail markets. These mechanisms include spot market price caps, operating reserve requirements, non-price rationing protocols,...

Persistent link: https://www.econbiz.de/10013247433

The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry

Borenstein, Severin; Bushnell, James B.; Stoft, Steven - 2021

In an unregulated electricity generation market, the degree to which generators in" different locations compete with one another depends on the capacity to transmit electricity" between the locations. We study the impact of transmission capacity on competition among" generators. We show that...

Persistent link: https://www.econbiz.de/10013240555

Indexed Regulation

Newell, Richard G. - 2010

Seminal work by Weitzman (1974) revealed prices are preferred to quantities when marginal benefits are relatively flat compared to marginal costs. We extend this comparison to indexed policies, where quantities are proportional to an index, such as output. We find that policy preferences hinge...

Persistent link: https://www.econbiz.de/10012759315

Determinants of Vertical Integration : Finance, Contracts, and Regulation

Acemoglu, Daron; Robinson, James Alan; Mitton, Todd - 2010

differences in financial development, contracting costs or regulation. We find cross-country correlations between vertical …

Persistent link: https://www.econbiz.de/10012762442

Insurance, Self-Protection, and the Economics of Terrorism

Lakdawalla, Darius - 2010

This paper investigates the rationale for government intervention in the market for terrorism insurance, focusing on the externalities associated with self-protection. Self-protection by one target encourages terrorists to substitute towards less fortified targets. Investments in self-...

Persistent link: https://www.econbiz.de/10012762980

On the Regulation of Fee Structures in Mutual Funds

Das, Sanjiv R. - 2010

We offer an alternative framework for the analysis of mutual funds and use it to examine the rationale behind existing regulations that require mutual fund advisor fees to be of the fulcrum' variety. We find little justification for the regulations. Indeed, we find that asymmetric incentive...

Persistent link: https://www.econbiz.de/10012763594

Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage

Fowlie, Meredith - 2008

. In a straightforward application of the theory of the second best, I show that incomplete regulation can welfare dominate …For political, jurisdictional and technical reasons, environmental regulation of industrial pollution is often … regulated producers are less polluting than their unregulated ounterparts, emissions under incomplete regulation can exceed the …

Persistent link: https://www.econbiz.de/10012769643