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on Law and Economics |
| By: | Anatoliy V Kostruba (Vasyl Stefanyk Precarpathian National University) |
| Abstract: | In the context of the European integration processes taking place in Ukraine, there is a convergence of the national legal system with the legal principles and provisions of the European Union, including in the field of corporate legal relations. The main purpose of this study was an independent study of problematic issues that arise upon the implementation of sub-standard remedies in corporate disputes to develop author's conclusions and recommendations to ensure sustainable and effective law enforcement practices. The methodological framework of this study included the principles of cognition of social phenomena in their historical development, interrelation, and interdependence, a dialectical approach to the study of theory and practice, the history and current state of law. The leading methods were historical, comparative legal, and dialectical. Based on the results of the investigation, the study covered the leading issues of the state of modern legal regulation of sub-standard remedies in corporate disputes in Ukraine; analysed the main issues of theoretical certainty regarding sub-standard remedies in corporate disputes and suggested new vectors of reforms concerning further improvement of law enforcement practice. The author's conclusion on the need to ensure the unity of law enforcement practice by introducing changes to the legislation of Ukraine towards detailed regulation of sub-standard remedies in corporate disputes, which also correlates with the reformation vectors of development of Ukraine in the context of European integration, will become a stable basis for further scientific research and legislative transformations in the field under study. |
| Keywords: | Remedies for corporate rights,derivative claim,derivative action,weak party,corporate legal relations Summary: 1 Introduction -2 Literature Review -3 Materials and Methods -4 Results -5 Discussion -6 Conclusions -References,Kostruba,Civil law doctrine,Company law,Company law harmonization,corporations |
| Date: | 2022–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03839400&r=law |
| By: | Arcos, MTeresa; Feijóo, Claudio |
| Abstract: | Boundaries set between legacy audiovisual and digital content services are blurring nowadays. However, the legal framework applicable to those services is still rather different to such an extent it is recognized as divergent, particularly regarding the liability regime of the service providers. Among the examples of these distinct regimes, the protection for minors with access to potentially harmful content regarding their moral and mental growth is used in the paper to analyse the lack of coherence in the legal treatment of audiovisual content, in the EUin particular. From the analysis, the paper concludes that the Digital Services Act, as the latest step in theevolution of the legal framework for the digital services in the EU still seems unable to restore the required level of coherence and level the playing field for audiovisual content. and, therefore, lacks content-neutrality from the perspective of technology used for the distribution of content. Therefore, the paper foresees that more legislative initiatives will be needed to avoid the negative effects of the difficulties of existing audiovisual legislative framework enforcement and perceived lack of trust in law. |
| Keywords: | digital services regulation,audiovisual regulation,neutrality,content-neutrality,technology-neutrality European audiovisual market,Digital Single Market,liability intermediaries,AVSMD,DSA,harmful content,minors |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse22:265612&r=law |
| By: | Vander Maelen, Carl |
| Abstract: | In the wake of the 'new governance' school of thought, the EU has increasingly relied on soft law instruments that include a large number of (non-political) stakeholders into the policy process. Codes of conduct are such instruments. They have traditionally been used in EU law in a wide but inconsistent variety of ways. This makes it hard to summarise their legal characteristics. However, a clearer picture emerges in the sub-field of EU personal data protection. The question then becomes whether the use of codes in articles 40-41 GDPR presents a paradigm shift in how codes are used in EU law. Although embedding codes within the EU's hard law instruments is not new, this contribution argues that GDPR codes display unique features across their functional dimensions (implementation, accountability, and enforcement) and the dimensions of legalisation (obligation, precision, and delegation). The paper ends by framing these findings within the larger context of increasingly 'hard' EU soft law and the specific phenomenon of 'GDPR mimesis' in the EU's ICT policy. |
| Keywords: | Codes of conduct,Article 40 GDPR,Article 41 GDPR,Soft law,Audiovisual Media Services Directive,Digital Services Act,Artificial Intelligence Act |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse22:265672&r=law |
| By: | Stefania Fontana; Giorgio D'Agostino |
| Abstract: | This paper aims to evaluate the impact of the anti-mafia dismissal policy in municipal councils for mafia infiltration on the share of public goods in Italy. The implementation of policies aimed at reducing the mafia’s influence on local political bodies can improve the level of essential public goods that are relevant for social inclusion and regional development. The results suggest that during the years after a dismissal, municipalities devote more resources to public goods, with an estimated increase of approximately 5.3 pp. Notably, the effect seems to be driven by an increase in investment of approximately 5.4 pp, whereas the effect on consumption is uncertain. We therefore conclude that policies targeting the problem of criminal infiltration in local governments can improve socioeconomic conditions by enhancing the level of economically and socially relevant local public goods. |
| Keywords: | anti-mafia policies, mafia infiltration, public goods, local governments |
| JEL: | K42 H41 H75 D04 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:rtr:wpaper:272&r=law |
| By: | Noah Spencer |
| Abstract: | This paper evaluates the causal effect of drug decriminalization on drug overdose deaths in a context where decriminalization was not accompanied by substantial public health investments. Using the synthetic control method, I find that when Oregon decriminalized small amounts of drugs in February 2021, it caused 181 additional drug overdose deaths during the remainder of 2021. This represents a 23% increase over the number of drug overdose deaths predicted if Oregon had not decriminalized drugs. My estimates suggest that decriminalization had similar effects on drug overdose deaths among men and women and among white and non-white people. |
| Keywords: | drug decriminalization, illicit drugs, synthetic control method |
| JEL: | D04 I18 K42 |
| Date: | 2022–11–29 |
| URL: | http://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-745&r=law |
| By: | Eleonora Dávalos; Leonardo Fabio Morales |
| Abstract: | One explanation for the increasing number of hectares with coca cultivation is that eradication strategies displace coca crops but fail to completely clear affected areas. In the drug policy literature, that dynamic shifting is commonly known as the balloon effect. This study integrates georeferenced agricultural data through spatially explicit econometric models to test the hypothesis that forced eradication displace coca crops. Using annual data for 1,116 contiguous municipalities in Colombia between 2001 and 2015, we estimate a spatial Durbin model with municipal and time fixed effects. Our results suggest that, on average, aerial fumigation in a municipality diffuses the benefits of this crime control strategy to neighboring municipalities. **** RESUMEN: Una posible razón del crecimiento del número de hectáreas de coca en Colombia es que las estrategias de erradicación desplazan los cultivos de coca, pero no logran despejar por completo las áreas afectadas. En la literatura sobre políticas de drogas, ese cambio dinámico se conoce comúnmente como el efecto globo. Este estudio integra datos agrícolas georreferenciados a través de modelos econométricos espaciales para evaluar la hipótesis de que la erradicación forzada desplaza los cultivos de coca. Utilizando datos anuales de 1.116 municipios contiguos en Colombia, estimamos un modelo espacial Durbin. Nuestros resultados sugieren que, en promedio, la fumigación aérea en un municipio difunde los beneficios de esta estrategia de control del crimen a los municipios vecinos. |
| Keywords: | Spatial dependence, Spatial Durbin model, Drug policy, Spillover, Dependencia espacial, Modelo espacial Durbin; Erradicación; Políticas de drogas |
| JEL: | K42 R12 R14 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:bdr:region:314&r=law |
| By: | Gorecki, Paul |
| Abstract: | The Competition and Consumer Protection Commission (CCPC) allegations of price signalling in 2015 and 2016 by five insurers, a broker, and a broker representative body with respect to private motor insurance (PMI) premium increases did not reach, based on publicly available information, the threshold required to establish a concerted practice that breached competition law. There was a plausible alternative explanation, the underwriting cycle, for the premium increases. The failure of the CCPC to articulate a clear position on when public announcements on future prices are likely to breach competition law is likely to chill competition and damage consumer welfare. Had the CCPC investigated the alleged price signalling under the Competition (Amendment) Act 2022, which implements the ECN+ Directive, there is no reason to assume that the outcome would have been any different, despite extra powers such as civil fines. |
| Keywords: | private motor insurance; Competition Act 2002; Competition (Amendment) Act 2022; concerted practice; tacit collusion; Competition and Consumer Protection Commission; price signalling. |
| JEL: | D22 D43 G22 K21 L13 L41 |
| Date: | 2022–11–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:115473&r=law |
| By: | Aldeco Leo Lorenzo Rodrigo; Jurado Jose A.; Ramírez-Álvarez Aurora A. |
| Abstract: | This document studies the effect of the homicide rate on internal migration in Mexico. Reduced form evidence shows that net migration of skilled workers decreases into local labor markets where homicide rates increased after 2007, suggesting workers prefer destinations with lower homicide rates. This result is due to lower inflows, without effects on outflows, pointing to the existence of moving costs. To quantify the welfare cost of increasing homicides, we use workers' migration decisions and a spatial equilibrium model. Skilled workers' average willingness to pay to decrease the homicide rate by 1% is estimated at 0.58% of wages. The welfare cost is in the order of several points of GDP per year, depending on the assumptions. Workers who do not migrate bear the largest share of the overall welfare cost. |
| Keywords: | Internal Migration;Homicide Rates;Instrumental Variables;StructuralEstimation |
| JEL: | K42 O15 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:bdm:wpaper:2022-11&r=law |
| By: | Prado, Tiago S. |
| Abstract: | This paper presents a comparative analysis of alternative competition policy and regulatory regimes that are proposed to safeguard competition in the digital economy. We review the causes of concentration in several digital markets, and differentiate the objectives of promoting competition in, and for incumbent digital platforms. Then, we analyze five regimes currently suggested in the research literature and explored by practitioners, ranging from precautionary competition policy and traditional ex ante regulatory remedies to ex post competition policy enforcement, ex post regulation and various self-regulation mechanisms. In a time when policy imitation is widespread, our main conclusion is that policy and regulatory regimes, to be effective to promote competition and investment in digital markets, must observe country-specific conditions and challenges. No single approach fits all conditions. This analysis should help policymakers to have a clearer picture on how to design measures to promote competition in the platform economy considering their local context. |
| Keywords: | digital platforms,competition,policy,regulation,antitrust,innovation |
| JEL: | L1 L4 L5 D6 O2 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse22:265666&r=law |
| By: | Langenbucher, Katja |
| Abstract: | Search costs for lenders when evaluating potential borrowers are driven by the quality of the underwriting model and by access to data. Both have undergone radical change over the last years, due to the advent of big data and machine learning. For some, this holds the promise of inclusion and better access to finance. Invisible prime applicants perform better under AI than under traditional metrics. Broader data and more refined models help to detect them without triggering prohibitive costs. However, not all applicants profit to the same extent. Historic training data shape algorithms, biases distort results, and data as well as model quality are not always assured. Against this background, an intense debate over algorithmic discrimination has developed. This paper takes a first step towards developing principles of fair lending in the age of AI. It submits that there are fundamental difficulties in fitting algorithmic discrimination into the traditional regime of anti-discrimination laws. Received doctrine with its focus on causation is in many cases ill-equipped to deal with algorithmic decision-making under both, disparate treatment, and disparate impact doctrine. The paper concludes with a suggestion to reorient the discussion and with the attempt to outline contours of fair lending law in the age of AI. |
| Keywords: | credit scoring methodology,AI enabled credit scoring,AI borrower classification,responsible lending,credit scoring regulation,financial privacy,statistical discrimination |
| JEL: | C18 C32 K12 K23 K33 K40 J14 O31 O33 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:lawfin:42&r=law |
| By: | Leigh, Andrew (Australian National University) |
| Abstract: | Economic dynamism is fundamental to productivity and living standards. Several important metrics suggest that the Australian economy has become less dynamic over recent decades. The share of workers starting a new job has fallen. Among employing businesses, the start! up rate has declined. On average, markets have become more concentrated. Mark!ups have increased. Reinvigorating competition policy may be an important means of boosting dynamism and raising the rate of productivity growth. |
| Keywords: | market concentration, markups, new business formation, job mobility |
| JEL: | D43 K21 L40 |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izapps:pp193&r=law |
| By: | Rosa Branca Esteves (Universidade do Minho and NIPE); Francisco Carballo-Cruz (Universidade do Minho and NIPE) |
| Abstract: | This paper investigates the role of an incumbent´s data investment decisions in shaping the competitive interaction of firms and market structure. We provide antitrust agencies with some insights that may help them to determine whether and when personalized pricing (PP) by a dominant firm, which is enabled by the use of exclusive data, dampens competition and harms consumers. In markets with intermediate entry costs, where entry is blocked without any intervention, a data openness remedy, by means of a mandatory information sharing, is an effective tool to restore competition and boost consumer welfare. Even in markets where entry is inevitable, due to low entry costs, a mandatory information sharing to promote competitive PP further boosts consumer surplus in comparison to the case where only the incumbent employs PP. In contrast, public agencies should consider a ban on PP in markets with sufficiently high entry costs. In these markets, a mandatory information sharing remedy would simply not produce the desired competitive outcome. |
| Keywords: | Price discrimination, data investments, data barrier to entry, information, sharing, digital markets, GDPR, competition policy and regulation. |
| JEL: | D43 L13 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:nip:nipewp:16/2021&r=law |
| By: | Roxana Gutierrez-Romero (School of Business and Management, Queen Mary University of London.) |
| Abstract: | This article estimates the impact of violence on emigration crossings from Guatemala to Mexico as final destination during 2009-2017. To identify causal effects, we use as instruments the variation in deforestation in Guatemala, and the seizing of cocaine in Colombia. We argue that criminal organizations deforest land in Guatemala, fueling violence and leading to emigration, particularly during exogenous supply shocks to cocaine. A one-point increase in the homicide rate differential between Guatemalan municipalities and Mexico, leads to 211 additional emigration crossings made by male adults. This rise in violence, also leads to 20 extra emigration crossings made by children. |
| Keywords: | violence, emigration, unaccompanied children, Central America, deforestation. |
| JEL: | C26 D74 F22 J15 K37 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:cgs:wpaper:107&r=law |
| By: | Diego Daruich (University of Southern California (Marshall), United States of America); Sabrina Di Addario (Bank of Italy); Raffaele Saggio (University of British Columbia, Canada) |
| Abstract: | We combine matched employer-employee data with firms’ financial records to study a 2001 Italian reform that lifted constraints on the employment of temporary contract workers while maintaining rigid employment protection regulations for employees hired under permanent contracts. Exploiting the staggered implementation of the reform across different collective bargaining agreements, we find that this policy change led to an increase in the share of temporary contracts but failed to raise employment. The reform had both winners and losers. Firms are the main winners as the reform was successful in decreasing labor costs, leading to higher profits. By contrast, young workers are the main losers since their earnings were substantially depressed following the policy change. Rent-sharing estimates show that temporary workers receive only two-thirds of the rents shared by firms with permanent workers, helping explain most of the labor costs and earnings reductions caused by the reform. |
| Keywords: | reform evaluation, contracts, employment, wages, profits |
| JEL: | D22 J08 K41 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:wptemi:td_1390_22&r=law |