The Economic Effects of Competition Policy: Cross-Country Evidence Using Four New Indicators

2006 ◽  
Author(s):  
Stefan Voigt
Keyword(s):  
Competition Policy ◽  
Economic Effects ◽  
Cross Country

The Reform of UK Competition Policy

1988 ◽  
Vol 125 ◽  
pp. 56-68 ◽  
Author(s):  
Donald Hay ◽  
John Vickers
Keyword(s):  
Competition Policy ◽  
Economic Effects ◽  
Green Paper ◽  
Fundamental Change ◽  
Legal Form ◽  
New Methods ◽  
Restrictive Trade ◽  
Methods Of Operation

The most important government review of UK competition since Mrs Thatcher came into office has recently taken place. The review, which was announced in June 1986, was concerned with two aspects of policy—mergers and restrictive trade practices (RTP). Its conclusions were published in March 1988 in a Department of Trade and Industry (DTI) document, ‘Mergers policy’, and in a major Green Paper entitled ‘Review of restrictive trade practices policy’ (Cm 331, 1988). The proposals on RTP involve a fundamental change in policy. The new law will consider restrictive practices in terms of their economic effects upon competition and not, as at present, with the emphasis on their legal form. This reform will require new methods of operation and will be backed up by tougher powers and penalties than have hitherto been available in Britain.

scholarly journals The effects of COVID-19 vaccines on economic activity

2022 ◽  
Vol 158 (1) ◽  
Author(s):  
Pragyan Deb ◽  
Davide Furceri ◽  
Daniel Jimenez ◽  
Siddharth Kothari ◽  
Jonathan D. Ostry ◽  
...  
Keyword(s):  
Economic Activity ◽  
High Frequency ◽  
Nonlinear Effects ◽  
Economic Benefits ◽  
Economic Effects ◽  
Equitable Access ◽  
Vaccination Rates ◽  
Containment Measures ◽  
Cross Country ◽  
Country Specific

AbstractThis paper empirically examines the economic effects of COVID-19 vaccine rollouts using a cross-country daily database of vaccinations and high-frequency indicators of economic activity—nitrogen dioxide (NO2) emissions, carbon monoxide (CO) emissions, and Google mobility indices—for a sample of 46 countries over the period December 16, 2020 to June 20, 2021. Using surprises in vaccines administered, we find that an unexpected increase in vaccination per capita is associated with a significant increase in economic activity. We also find evidence for nonlinear effects of vaccines, with the marginal economic benefits being larger when vaccination rates are higher. Country-specific conditions play an important role, with lower economic gains if strict containment measures are in place or if the country is experiencing a severe outbreak. Finally, the results provide evidence of spillovers across borders, highlighting the importance of equitable access to vaccines across nations.

scholarly journals COVID-19 Outbreak, Social Response, and Early Economic Effects: A Global VAR Analysis of Cross-Country Interdependencies

2020 ◽  
Author(s):  
Fabio Milani
Keyword(s):  
Social Networks ◽  
Risk Perceptions ◽  
Economic Effects ◽  
Social Connections ◽  
Central Component ◽  
Health Shocks ◽  
Social Distancing ◽  
Global Var ◽  
Cross Country ◽  
The U.S

AbstractThe COVID-19 pandemic underscored the importance of countries’ interconnections in understanding and reacting to the spread of the virus.This paper uses a global model with a sample of 41 countries to study the interdependencies between COVID-19 health shocks, populations’ risk perceptions about the disease, and their social distancing responses; it also provides some early evidence about potential economic effects.Social networks are a central component in understanding the international transmission.We exploit a dataset on existing social connections across country borders, made available by Facebook, and show that social networks help explain not only the spread of the disease, but also cross-country spillovers in risk perceptions and in social behavior. Social distancing responses across countries are measured based on aggregated mobility tracking indicators, obtained from Google Mobility Reports.We estimate a Global VAR (GVAR) model, which allows for endogeneity of each health, social, and economic, domestic variable, and for a dependence of domestic variables on country-specific foreign aggregates, which depend in turn on the matrix of social connections.Our empirical results highlight the importance of cross-country interdependencies and social networks. Risk perceptions and social responses are affected by experiences abroad, with Italy and the U.S. playing large roles in our sample. The social distancing responses to domestic health shocks are heterogeneous across countries, but they share some similarities: they adjust only gradually and with delay, hence displaying adaptive behavior.Early indicators are suggestive of unemployment consequences that vary widely across countries, depending on their labor market characteristics. Unemployment is particularly responsive to health shocks in the U.S. and Spain, while the fluctuations are attenuated almost everywhere else.

scholarly journals Cross-Country Empirical Studies of Systemic Bank Distress: A Survey

2005 ◽  
Vol 192 ◽  
pp. 68-83 ◽  
Author(s):  
Asli Demirgüç-Kunt ◽  
Enrica Detragiache
Keyword(s):  
Probability Model ◽  
Empirical Studies ◽  
Banking Crises ◽  
Economic Effects ◽  
Empirical Literature ◽  
Future Research ◽  
Multivariate Probability ◽  
Cross Country ◽  
Early Warnings

A rapidly growing empirical literature is studying the causes and consequences of bank fragility in contemporary economies. The paper reviews the two basic methodologies adopted in cross-country empirical studies, the signals approach and the multivariate probability model, and their application to study the determinants of banking crises. The use of these models to provide early warnings for crises is also reviewed, as are studies of the economic effects of banking crises and of the policies to forestall them. The paper concludes by identifying directions for future research.

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