In new analysis, Manuel Wörsdörfer compares the philosophies of two formative antitrust thinkers writing within the late 19th and early 20th centuries in america and Europe: Louis D. Brandeis and Walter Eucken. A dialogue of their physique of thought highlights the antitrust issues of the time and the way their positions may be tailored to … [Read more…]
The draft Merger Pointers search to scale back mergers and acquisitions, particularly those who take away potential entrants. Nonetheless, precluding acquisitions in these settings ignores what incentivizes startups and buyers to take preliminary dangers, in addition to the benefits that enormous incumbents must parlay acquisitions into additional innovation and an array of extensively commercialized shopper … [Read more…]
George Stigler posited that financial regulation is finest understood as a product created through a market course of. Available in the market for regulation, totally different members—similar to politicians, corporations, and voters—purchase and promote the principles of the sport to serve their particular person pursuits. In new analysis, Jac Heckelman and Bonnie Wilson use Stigler’s … [Read more…]
Professional civil servants devise ever extra subtle insurance policies to sort out emergencies similar to local weather change. However when voters lose religion in specialists, they vote for anti-elite populist leaders who promise to empty the swamp within the civil service. Gabriele Gratton and Barton E. Lee write that understanding populist voters’ calculations and distrust … [Read more…]
Utilizing a family survey with data remedies carried out within the aftermath of the SVB’s collapse, we look at the potential for a big financial institution’s failure to set off financial institution runs and the effectiveness of public communication in containing such a danger. We discover that information about SVB’s collapse will increase households’ propensity … [Read more…]
Politicians and governments in the US and elsewhere have lately proposed or applied wealth taxes to complement income and cut back wealth inequality. In a brand new examine, Samira Marti, Isabel Z. Martínez, and Florian Scheuer present how decreases in wealth taxes led to will increase in wealth inequality in Switzerland, although they discover that … [Read more…]
In new analysis, Enghin Atalay, Alan Sorensen, Christopher Sullivan, and Wanjia Zhu discover that mergers and acquisitions usually result in the merged agency providing much less product selection than when the 2 corporations operated pre-merger. In 2022, mergers and acquisitions (M&A) in the US totaled $2.4 trillion. M&A supply buying corporations the distinctive alternative to … [Read more…]
Xerox invented trendy copier know-how and was so profitable that its model title grew to become a verb. In 1972, U.S. antitrust authorities charged Xerox with monopolization and ultimately ordered the licensing of all its copier-related patents. As new analysis by Robin Mamrak exhibits, this antitrust intervention promoted subsequent innovation within the copier business, however … [Read more…]
In a brand new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà-Simats examine how giant institutional traders influence agency innovation. The authors discover that giant institutional traders encourage inner analysis and improvement however discourage agency acquisitions that might add patents and information to their corporations’ portfolios, hampering total innovation. Innovation and expertise … [Read more…]
Simcha Barkai describes the outcomes of recent analysis inspecting the influence of antitrust enforcement on U.S. financial exercise with co-authors Tania Babina, Jessica Jeffers, Ezra Karger, and Ekaterina Volkova. Enforcement, they discover, will increase financial exercise. In new work, joint with Tania Babina, Jessica Jeffers, Ezra Karger, and Ekaterina Volkova, we hand-collect a whole historical … [Read more…]