The purpose of this paper is on the one hand to analyze whether the security’s systematic risk beta estimates change as the infrequent trading phenomenon appears and on the other hand to provide useful insight on the impact of mergers and acquisitions on competition policy. The paper employs...

This paper provides estimates of price-marginal cost ratios for manufacturing and services sectors in the Eurozone, the US and Japan over the period 1970-2007. The estimates are obtained applying τhe methodology developed by Hall (1988) and extended by Roeger (1995) on the EU KLEMS March 2011...

The aim of this paper is to derive the formula of Gross Upward Pricing Pressure Index (GUPPI), used on duopoly markets with differentiated products, when we allow for unilateral equity stakes (expressed as a function of victim's market share) to be endogenously determined. The results show that...

This paper attempts to cast light to the relationship between Cournot-Bertrand controversy and monopoly regulation. To this purpose, we use a simple model of a vertically linked market, where an upstream regulated natural monopoly is trading via two-part tariff contracts with a downstream...

We build an Asymmetric Spatial Error Correction Model (ASpECM) to investigate the role of spatial dependence at the retail gasoline price adjustment mechanism. We find evidence that the symmetric price pattern is fully reversed when we account for spatial spillover effects, indicating that...

This paper estimates the efficiency of the power generation sector in the USA by using Window Data Envelopment Analysis (W-DEA). We integrate radial and non-radial efficiency measurements in DEA using the hybrid measure while we extend the proposed model by considering inputs and good and bad...

We develop a simple model with heterogeneous agents and search frictions to study how increases in matching intensity between buyers and sellers determine the level of income inequality among sellers. Our findings indicate that a reduction in search frictions leads to higher inequality and...

In this study, building a simple model that incorporates static and dynamic elements, the relationship of financial development and economic growth on the environmental degradation is investigated together with the validation of the Environmental Kuznets Curve (EKC) hypothesis. Our analysis is...

This paper investigates the relationship between efficiency and market structure for a sample of industrial facilities dispersed among the USA states. In order to measure the relevant efficiency scores, we use a Data Development Analysis (DEA) allowing for the inclusion of desirable and...

The aim of this study is two-fold. Firstly, it attempts to analyse the effect of risk on Middle East bank's efficiency levels before and after the recent financial crisis. Secondly, it seeks to determine the influence of bank size taking into consideration the possible inefficiency originated to...