European Union
Study Shows Universal Bank Trades Are Informed by Private Commercial Borrower Information
New research by Rainer Haselmann, Christian Leuz, and Sebastian Schreiber finds evidence suggesting that German banks with commercial lending relationships improve their...
New Study Warns Antitrust Inaction May Lead To Acceptable Collusion for Public Policy Considerations
The modernization of EU antitrust laws muddied the water with regard to the ways that antitrust authorities and courts should handle situations...
The European Union’s Big Policy Bet Against the Tech Giants
If EU policymakers are truly concerned about restoring competitiveness to digital markets, they need to adjust their expectations when it comes to...
How Interest Groups Utilize Reverse Revolving Doors to Influence Legislative Voting
A new study finds that legislators who worked for interest groups before taking office influence the voting behavior of their colleagues when...
European Union’s Plan to Protect Whistleblowers Continues to Face Obstacles
A little over a year ago, the EU adopted the Directive on the protection of persons who report breaches of Union law,...
Taming Big Tech: What Can We Expect From Germany’s New Antitrust Tool?
Targeted at Big Tech, Germany’s new antitrust tool for dealing with large digital platforms rebalances the power between the competition watchdog and...
The Digital Markets Act Represents a Change in Europe’s Approach to Digital Gatekeepers
The Digital Markets Act is not a competition tool as such. Rather, it is a market regulation whose main objective is to...
What the Department of Justice Can Learn from the European Union’s Antitrust Investigations Into Google
The Department of Justice has opened antitrust investigations into Google's (alleged) attempt to monopolize online advertising. While the case recycles old grievances...
Digital Platforms Should Contribute to the Enforcement of Sector-Specific Regulations
Tech companies often rely on the European Union’s outdated e-Commerce Directive to oppose and undermine new laws and regulations. The EU should...
How the European Commission Lost Its Tax Battle Against Ireland and Apple
Last month’s decision by Europe’s General Court to reject the European Commission’s attempt to recover €13 billion in back taxes from Apple...
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Commentary
The Banking Risks of Central Bank Digital Currencies
The implementation of central bank digital currencies as the primary medium of exchange would exacerbate the flaws of our current fiat system which encourage banks to overextend credit and create liabilities that they cannot redeem. This will worsen the already recurring cycles of financial crises, writes Vibhu Vikramaditya.
Antitrust and Competition
The Whig History of the Merger Guidelines
A pervasive "Whig" view of United States antitrust history among scholars and practitioners celebrates the Merger Guidelines' implementation of increasingly sophisticated economic methods since their...
Antitrust and Competition
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 series, using as a case study the RealPage class action lawsuit in the Seattle housing market.
Antitrust and Competition
The Future Markets Model Explains Meta/Within: A Reply to Herb Hovenkamp
In response to both Herb Hovenkamp’s February 27 article in ProMarket and, perhaps more importantly, also to Hovenkamp’s highly regarded treatise, Lawrence B. Landman, first, shows that the Future Markets Model explains the court’s decision in Meta/Within. Since Meta was not even trying to make a future product, the court correctly found that Meta would not enter the Future Market. Second, the Future Markets Model is the analytical tool which Hovenkamp says the enforcers lack when they try to protect competition to innovate.
Book Excerpts
The Chicago Boys and the Chilean Neoliberal Project
In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.
