recession
Bethany McLean’s Weekend Reading List: Inequality, Remote Learning and the First Female Recession
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.
After the Lockdown: Italian Consumers Are Cautious About Returning to Normal
The effects of reopening commercial and recreational activities depend not only on legislative provisions but also on the propensity of consumers to...
Option-Based Credit Spreads Signal a Recession, but the US Stimulus Will Soften the Blow
Over the past month, option-based credit spreads spiked and remain at elevated levels. The surge signals that a recession is at our door, but...
This Is Not the Time to Be Cautious. We Need to Contain the Economic Contagion of the Coronavirus
The real danger is that the virus mutates and infects our economic system, even as we manage to root it out of our bodies....
Keeping Business Alive During the Coronavirus Crisis: Government as Buyer of Last Resort
The government has to compensate businesses and workers for their losses so that each business can re-emerge almost intact after the hibernation due to...
Governments and Central Banks Have a Few Unpleasant Options to Stop the Economic Contagion
The global economy and financial markets are seriously hit by the coronavirus outbreak. Central banks can do something, but monetary policy is not enough. A fiscal stimulus might mitigate the impact, but the record-level outstanding amount of public and private debt adds additional risk to the current perfect storm. Â
Paul Krugman on the Economic Impact of Coronavirus: "We Are Very Vulnerable, This Could Be Pretty Bad"
A sneak video preview of next week's episode of Capitalisn't, the podcast hosted by Luigi Zingales and Kate Waldock, in which Nobel Prize-winning economist...
Paul Krugman on the Economic Impact of Coronavirus: “We Are Very Vulnerable, This Could Be Pretty Bad”
A sneak video preview of next week's episode of Capitalisn't, the podcast hosted by Luigi Zingales and Kate Waldock, in which Nobel Prize-winning economist...
LATEST NEWS
Antitrust and Competition
How US Antitrust Enforcement Against Xerox Promoted Innovation by Japanese Competitors
Xerox invented modern copier technology and was so successful that its brand name became a verb. In 1972, U.S. antitrust authorities charged Xerox with monopolization and eventually ordered the licensing of all its copier-related patents. As new research by Robin Mamrak shows, this antitrust intervention promoted subsequent innovation in the copier industry, but only among Japanese competitors. Nevertheless, their innovations benefited U.S. consumers.
Antitrust and Competition
Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation
The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.
Economic History
How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism
In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.
Antitrust and Competition
The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect
In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà -Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.
Antitrust and Competition
The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses
Joshua Gray and Cristian Santesteban argue that the Federal Trade Commission's focus in Meta-Within and Microsoft-Activision on narrow markets like VR fitness apps and consoles missed the boat on the real competition issue: the threat to future competition in nascent markets like VR platforms and cloud gaming.
