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We investigate the evolution of common law under overruling, a system of precedent change in which appellate courts replace existing legal rules with new ones. We use a legal realist model, in which judges change the law to reflect their own preferences or attitudes, but changing the law is...
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industry-level efficiency improvement and the distance to frontier variables by means of a multifactor productivity (MFP) index … effects. We find clear evidence that anticompetitive regulations in upstream sectors have curbed MFP growth downstream over … level of anticompetitive regulations, the marginal effect of increasing competition by easing such regulations is to …
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August 2001 - New data show that countries that regulate the entry of new firms more heavily have greater corruption and larger unofficial economies, but not better quality goods. The evidence supports the view that regulating entry benefits politicians and bureaucrats. Djankov and his coauthors...
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