ProMarket published 300 articles in 2023. Revisit our most popular.
10. Chiara Criscuolo and Guy Lalanne: A New Framework for Better Industrial Policies
OECD economists Chiara Criscuolo and Guy Lalanne propose a framework for maximizing the benefits from industrial policy while minimizing the costs.
9. Herbert Hovenkamp: Did the Supreme Court Fix “Brown Shoe”?
The Supreme Court’s 1962 Brown Shoe decision, which found a merger to be anticompetitive even though it would have reduced prices for consumers, remains one of the most controversial precedents in merger case law. However, Herbert Hovenkamp writes that subsequent Supreme Court decisions enervated the 1962 decision, rendering Brown Shoe obsolete.
8. Lucian Bebchuk and Oliver Hart: How the Start-Up Nation Could Fail
Lucian Bebchuk and Oliver Hart explain why Israel’s proposed legal transformation would undermine not only its democracy but also its economy.
7. Gabriele Bortolotti: Algorithmic Collusion in the Housing Market
While the development of artificial intelligence has led to efficient business strategies, such as dynamic pricing, this new technology is vulnerable to collusion and consumer harm when companies share the same software through a central platform. Gabriele Bortolotti highlights the importance of antitrust enforcement in this domain for the second article in our Computational Antitrust series, using as a case study the RealPage class action lawsuit in the Seattle housing market.
Nagesh Kumar reviews the history of India’s industrial policy and how it is instrumental to its ongoing development.
5. John Van Reenen: The Case for Green Industrial Policy
John Van Reenen weighs the pros and cons of the Biden administration’s industrial policy, particularly in respect to the administrations climate policy ambitions.
Nobel Laureate and bank-run expert Douglas Diamond argues that the Fed’s choice to signal long-term low interest rates, and then suddenly reverse course by raising interest rates in response to inflation, is a major reason for the collapse at Silicon Valley Bank.
3. Monika Schnitzer and Martin Watzinger: How the AT&T Case Can Inform Big Tech Breakups
Breaking up companies that antitrust regulators consider too dominant can be costly and might negatively impact innovation and consumer welfare. As economists and policymakers in the United States and Europe debate dismantling Big Tech companies, they should consider the lessons learned from the 1984 case of AT&T, write Monika Schnitzer and Martin Watzinger.
2. Amit Seru et al. How Many Banks Are at Risk of Insolvency Right Now?
Given the recent banking turmoil and failure of SVB and Signature and issues in First Republic, it is important to understand the risk to the rest of the banking system in the U.S. Amit Seru, Erica Jiang, Gregor Matvos and Tomasz Piskorski calculate the risk of further bank failures if uninsured depositors withdraw their funds, and recommend policy changes to address this risk.
1. Gary Clyde Hufbauer and Megan Hogan: Biden Embraces Buy America, Doubles Down on Trade Protection
Biden’s industrial policy signals a retreat from globalization and open markets into protectionism. The costs will be heavy.
The Next Five: Herbert Hovenkamp, “Competitive Harm and the 2023 Draft Merger Guidelines“; Roslyn Layton, “How Big Tech Uses Net Neutrality To Subvert Competition“; Steven Salop, “An Excessive Evidentiary Burden Sunk the FTC’s Case Against the Meta/Within Merger“; Tim Wu, “There Is No Antitrust Exception To Rules Of Statutory Interpretation“; Viral Acharya and Raghuram Rajan, “The Fed and Bank Failures.”