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on Regulation |
| By: | Ana Maria Montoya Gómez; Markus Zimmer |
| Abstract: | We study the effect of climate policy on companies’ greenhouse gas emissions using emissions data for the headquarters and subsidiaries of the world’s biggest manufacturing, energy, and utility companies. Our results suggest that financial incentives and legal requirements to audit energy use reduce companies’ emissions, whereas support schemes aimed at promoting the combined generation of heat and power increased emissions of non-utility companies and feed-in tariffs aimed at increasing the use of renewable energy sources for electricity generation increase emissions of utility companies. We also find loans and subsidies for energy efficiency improvements to increase emissions in the short term. In addition, our results provide a solid foundation for researchers seeking consistent and comparable estimates on the mitigation effects of typical climate policy instruments in a cross-country setting. |
| Keywords: | climate policy evaluation, greenhouse gas emissions, cross-country micro panel data, companies, firms |
| JEL: | H23 H32 Q42 Q48 Q54 Q58 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_6651&r=reg |
| By: | Briglauer, Wolfgang; Cambini, Carlo; Grajek, Michał |
| Abstract: | In this paper, we study how the coexistence of access regulations for legacy (copper) and fiber networks shapes the incentives to invest in network infrastructure. To this end, we develop a theoretical model explaining investment incentives by incumbent telecom operators and heterogeneous entrants and test its main predictions using panel data from 27 EU member states over the last decade. Our theoretical model extends the existing literature by, among other things, allowing for heterogeneous entrants in internet access markets, as we consider both other telecom and cable TV operators as entrants. In the empirical part, we use a novel data set including information on physical fiber network investments, legacy network access regulation and recently imposed fiber access regulations. Our main finding is that more stringent access regulations for both the legacy and the fiber networks have, in line with our theoretical model, an asymmetric effect on incumbent telecom and cable TV operators; both harm investments by the former, but do not affect the latter. |
| Keywords: | Internet access market,Access regulation,Investment,Infrastructure,Next Generation Networks,Broadband,Telecoms,Cable operators and Europe |
| JEL: | L96 L51 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169451&r=reg |
| By: | Bernardino Adao; Borghan Narajabad; Ted Loch-Temzelides |
| Abstract: | We study the effect of technological progress on the optimal transition to a renewable energy-fueled world economy. We develop a dynamic general equilibrium model where energy is used as an input in production and can come from fossil or renewable sources. Both require the use of capital, which is also needed in the production of final goods. Renewable energy firms can invest in improving the productivity of their capital stock. The actual improvement is subject to spillovers and involves an opportunity cost. This results in underinvestment in the productivity of renewable energy capital. In the presence of environmental externalities, the optimal allocation can be implemented through a Pigouvian tax on fossil fuel, together with policy that promotes new renewable technologies. We calibrate our model using world-economy data and characterize the transition toward a low carbon economy. We find that it is optimal for renewables to “start small†and pick up their market penetration only later. In the short run, investment is needed mainly to improve productivity in the renewable energy sector. Later, renewable energy contributes by becoming a “modest†engine of economic growth. It takes approximately 150 years before fossil fuel is phased out entirely, resulting in a 2.8 degree Celsius temperature increase. |
| JEL: | D81 H21 Q54 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_6372&r=reg |
| By: | Mohammad Reza Hesamzadeh; Juan Rosellón; Steven A. Gabriel; Ingo Vogelsang |
| Abstract: | The informationally simple approach to incentive regulation applies mechanisms that translate the regulator’s objective function into the firm’s profit-maximizing objective. These mechanisms come in two forms, one based on subsidies/taxes,the other based on constraints/ price caps. In spite of a number of improvements and a good empirical track record simple approaches so far remain imperfect. The current paper comes up with a new proposal, called H-R-G-V, which blends the two traditions and is shown to apply well to electricity transmission pricing and investment. In particular, it induces immediately optimal pricing/investment but is not based on subsidies. In the transmission application, the H-RG- V approach is based on a bilevel optimization with the transmission company (Transco) at the top and the independent system operator (ISO) at the bottom level. We show that HR- G-V, while not perfect, marks an improvement over the other simple mechanisms and a convergence of the two traditions. We suggest ways to deal with remaining practical issues of demand and cost functions changing over time. |
| Keywords: | Electricity transmission, incentive regulation, multi-level optimization |
| JEL: | D24 L51 L94 Q40 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1696&r=reg |
| By: | Gerli, Paolo; Van der Wee, Marlies; Verbrugge, Sofie; Whalley, Jason |
| Abstract: | Utility providers, such as energy companies and railway operators, have been long emphasised as driving competition and facilitating investment in broadband markets. Nevertheless, their involvement and contribution to broadband development has varied significantly over time. In the late 1990s, both local and national utilities engaged in the provision of broadband networks, but only few of them managed to establish themselves as major broadband providers. More recently, new projects involving national utilities have been announced in several EU countries, opening new scenarios for utilities’ contribution to Next Generation Access (NGA) development. This paper aims to explore and identify the factors affecting the entry and the success of utilities in the European broadband market. Four case studies from four EU countries (Germany, Italy, Sweden and the UK) are investigated and compared, to highlight similarities and differences under the EU regulatory framework. This qualitative analysis takes into account the interaction of market, technology and policy factors, focusing on the impact of policy and regulatory measures. As a result, this paper provides fruitful insights into the relevance and effectiveness of public interventions in broadband markets. Public support and public ownership are identified as main drivers for the involvement of utilities in EU broadband markets, with regulatory measures and economies of scope exerting a limited and decreasing influence. |
| Keywords: | Utility providers,broadband investment,broadband policy,open-access networks |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169461&r=reg |
| By: | Grzybowski, Lukasz; Nicolle, Ambre; Zulehner, Christine |
| Abstract: | In this paper, we assess the impact of competition and regulation on prices of mobile services in France. We estimate hedonic price regressions using data on tariff plans offered by the main mobile telecommunications operator in France between May 2011 and December 2014. In this time period, the obtained quality-adjusted price index decreased by about 51% as compared to a decline in average prices without quality adjustment of 8.9%. In a second step, we relate the quality-adjusted prices to a set of competition and regulation variables and find that the launch of 4G networks by mobile operators was the main driver of price reductions for classic tariffs with commitment. Low cost tariffs without commitment which were introduced to pre-empt the entry of low cost competitor declined at the time of entry. Moreover, we find that regulation, which is approximated by the level of mobile termination charges and international roaming price caps for voice and data, has jointly a significant impact on quality-adjusted prices. In percentage terms, competition is responsible for about 68% of total price decline. We conclude that the reduction in quality-adjusted prices in the last years was largely caused by competition between established operators and by entry of fourth low cost operator. |
| Keywords: | Mobile telecommunications,hedonic price regression,regulation,entry |
| JEL: | L13 L50 L96 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169465&r=reg |
| By: | Baake, Pio; Sudaric, Slobodan |
| Abstract: | We analyze pricing and competition under paid prioritization within a model of interconnected internet service providers (ISPs), heterogeneous content providers (CPs) and heterogeneous consumers. We show that prioritization is welfare superior to a regime without prioritization (network neutrality) but yields lower incentives for investment in network capacities. As ISPs price discriminate between on-net and off-net CPs, their bottleneck property is propagated and competition for consumers increases resulting in a potential prisoner's dilemma when deciding whether to offer prioritization. We show that peering for prioritized traffic emerges as a collusive outcome and present off-net prices as a further collusive instrument. |
| Keywords: | interconnection,investment,network neutrality,prioritization |
| JEL: | L13 L51 L96 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169446&r=reg |
| By: | Marcus, J. Scott; Bocarova, Veronica; Petropoulos, Georgios |
| Abstract: | In September 2016, the European Commission presented legislative proposals to replace the European Regulatory Framework for Electronic Communications (RFEC) with a new European Electronic Communications Code. Among the many stated objectives was to stimulate more rapid investment in fast and ultra-fast broadband. One can argue that the RFEC was put in place in 2002, at a time when networks were not yet liberalised or privatised, and when investment needs of existing copper networks were fairly consistent and predictable. As a consequence, the RFEC put great emphasis on achieving competition, relatively little on achieving investment. This reflects to some extent a preference for optimisation of static efficiency over dynamic efficiency, which was perhaps in order given that the former is far easier to analyse than the latter. In this paper, we review the regulatory instruments that provided in the European Code, and consider based on the economic literature, publicly available statistics, and our own analysis the degree to which the Action Lines in the proposed European Code are likely (individually or collectively) to contribute to increased investment in fast broadband in practice. Our assessment is that the proposed enhancements to broadband policy in the proposed European Code are broadly in the right direction, and collectively are likely to offer network operators a more profitable and predictable business case for investment in high speed broadband. Notwithstanding our observations that the case for FTTP/FTTP can often be significantly overblown, we would still say that this is a welcome or overdue change. The risks implied by insufficient specification of these provisions in the European Code, and the lack of clarity as regards technological neutrality, are however significant. We would hope that these provisions can be sharpened in the course of the legislative process. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169483&r=reg |
| By: | Purnama, Yudi Adhi; Mitomo, Hitoshi |
| Abstract: | The role of government in telecommunication infrastructure provision is important in developing countries as weak demand and high deployment cost exists, limit private initiative. As ICT infrastructure is substantial, some local government implemented a local broadband initiative to provide access both to internal demand as well as public services. The local autonomy Act also grants local government broad authority on regulating the broadband development. The initiative mostly has a positive impact even though some practice hinders broadband expansion, considering the variance of regulation increased administrative cost as well as mandated monopoly in some area. Bandung municipality exercise shared duct policy to accelerating its broadband development and meet city planning as well as gaining direct revenue from broadband business and investment. Despite optimism from the local government, the policy has failed to reach its goal due to the absence of anchor legal framework, diminishing the opportunity for resource allocation and sounded local policy. Moreover, lack of human resources effected on shared duct business sustainability, and discouraged operator in utilising shared duct and questioning the sustainability. The government need to overhaul law on telecommunication, to meet broadband era and provide an opportunity for local authorities in broadband development as well as sounded foundation policy. |
| Keywords: | local broadband initiative,shared duct,local government,broadband policy,infrastructure sharing |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169493&r=reg |
| By: | Papai, Zoltan; Nagy, Peter; Papp, Bertalan |
| Abstract: | Cross-country price comparison is a useful, but often deceptive exercise. The paper addresses the underlying methodological challenges, offering a practicable solution, which is both sound enough and meaningful for the comparison of mobile broadband prices on different markets. Both the simple comparisons and the econometric analysis give valuable insights into how the structural characteristics and also other factors are associated with the price-differences between national mobile markets of the European Union. The result suggests that the presence of a challenger player on the market is important to have lower prices and wider choice of options on the market. This factor seems more important than the mere number of the players. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169492&r=reg |
| By: | Howell, Bronwyn E.; Potgieter, Petrus H. |
| Abstract: | Bundling of broadband access with other services has been a defining characteristic of internet access markets for as long as broadband technologies have been available. Initially, cable television competitors entered telecommunications markets by bundling first voice telephony and subsequently (broadband) internet access with their television products. The fear that bundling broadband access with live sport content could distort competition in broadband markets by first facilitating the assumption of a dominant position in broadband markets and then the squeezing-out of small rivals with low levels of investment but higher costs led to the New Zealand Commerce Commission recently declining to grant clearance for a merger between the dominant pay television provider and the number two (by market share) fixed line broadband provider also the number one mobile operator (Commission 2017; B. E. Howell and Potgieter 2017a; B. E. Howell and Potgieter 2017b). We investigate the situation where a basic content package, a premium content package and broadband are offered by a firm and analyse the firm’s price-setting behaviour when customers react to a given set of prices by maximizing their individual consumer surplus. Numerical simulations with random customer valuations is used to illustrate the multiplicity of outcomes that can be expected from a regulatory intervention. We discuss issues arising from this analysis that should be pertinent to decisions in similar cases. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169466&r=reg |
| By: | Beckert, Bernd |
| Abstract: | Whereas broadband coverage with speeds of up to 30 Mbit/s is quite high, Europe is generally lagging behind in the roll-out of high-performance, future-proof fibre networks (Fibre-To-The-Home/ Fibre-To-The-Building). Yet, some European countries have been quite successful in their efforts to make FTTB/H connections available to their populations. This observation suggests the question, what strategies were applied and whether or not they could be applied in other countries as well.1 In order to find out about success strategies in selected FTTH leader countries we use a case study approach in which different factors like market structure, competition, regulation, policy intervention and demand are analysed. In the case studies, specific strategies which are of central importance for the selected countries are highlighted: In Estonia, we find that building a countrywide middle-mile-network as a public-private-partnership was a decisive move. In Sweden, municipality-owned city networks which have deployed fibre networks as Open Access Networks play an important role. In Spain it was hard regulation combined with a surge in demand which has lead to the "fibre-miracle". And in Switzerland, the countrywide roll-out of fibre networks is coordinated in a multi-stakeholder approach which was initiated by the national regulator. In the analysis part, six success strategies are derived from the empirical part, four of them originating directly from the respective countries and two being relevant in all selected countries. In the final part of the contribution, the recommendations are tested by applying them to the situation in Germany where FTTH coverage remains low. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169449&r=reg |
| By: | Wohlfarth, Michael |
| Abstract: | Data portability allows users to transfer data from one online service to another service. As data gets increasingly valuable for online services and users alike, and as data portability will be politically enforced within the European Union by the General Data Protection Regulation (GDPR), we develop a game-theoretic model that incorporates the competitive effects arising from a right to data portability. We show, among others, that although data portability is designed to protect users, a right to data portability may hurt customers because new services increase the amount of collected data compared to the case without a right to data portability. However, profits for new services and total surplus unambiguously increase with a right to data portability, improving innovation and service variety. Consequently, policy makers should be aware that the decision to enforce data portability is far more complex than currently realized and should consider the case-specific effects. |
| Keywords: | Data portability,Regulation of online services,Market entry and innovation,Consumer protection,Switching costs,GDPR |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169506&r=reg |
| By: | Andersson , Henrik (Toulouse School of Economics); Hultkrantz , Lars (Örebro University); Lindberg , Gunnar (The Institute of Transport Economics, Norway); Nilsson , Jan-Eric (VTI) |
| Abstract: | Beginning as a planning tool within the national road administration in the early 1970s, benefit-cost analysis (BCA) became a pillar of national transport policy because of strategic choices made by the national parliament. The Transport Policy Act of 1979 established marginal instead of average cost as the overarching principle for pricing of transport. The subsequent 1988 Act separated rail infrastructure from train-service provision. Both policy updates made it necessary to widen the analysis of costs to include also externalities and a foregone conclusion was that efficient investment priorities should be made based on BCA. But no one asked whether the political decision makers or the BCA models were apt to that task. This paper reviews the current state of BCA for transport infrastructure investment and considers design issues that have been and still are debated, also providing a benchmark description of how these issues have been addressed elsewhere. Moreover, the role of BCA as a platform for prioritization of investment project is reviewed. |
| Keywords: | Benefit-cost analysis; Rail; Road; Sweden; Transport |
| JEL: | H43 H54 R42 |
| Date: | 2017–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ctswps:2017_012&r=reg |
| By: | Elias Soukiazis (CeBER and Faculty of Economics of the University of Coimbra); Sara Proença (CERNAS/ESAC Polytechnic Institute of Coimbra); Pedro André Cerqueira (CeBER and Faculty of Economics of the University of Coimbra) |
| Abstract: | The relationship between renewable energy sources and economic growth has attracted the interest of researchers in recent years. However, the analysis has focused mostly on measuring the impact of renewable energy consumption on economic performance (such as economic growth) that does not reflect the quality of standards of living. We employ a different approach measuring the impact of renewable energy consumption on the Human Development Index (HDI) that considers these qualitative characteristics associated with better health and educational standards along with income performance. Additionally, we develop a simultaneous equation system approach that describes the interrelations between economic variables, renewable energy and pollution emissions with feedback effect tendencies. We provide robust evidence using panel data for a set of 28 OECD countries over the period 2004-2015. The system of equations is estimated by 3sls considering a static and dynamic specification of the model. It is shown that renewable energy consumption along with human and physical capital are important factors for explaining the sustainable development level of the countries considered. Renewable energy consumption is mostly determined by higher levels of human capital, the R&D spending and the stage of countries’ development. Factors like the stage of development, total energy consumption, renewable energy consumption and standard levels of education are important elements for explaining environmental pollution (measured by CO2 emissions per capita). It is also established a non-linear relationship between the countries` stage of development and carbon emissions. |
| Keywords: | Renewable energy, human development index, simultaneous equation system, panel data. |
| JEL: | O13 Q2 C33 |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:gmf:papers:2017-10&r=reg |
| By: | Esselaar, Steve; Song, Steve; Stork, Christoph |
| Abstract: | This paper analyses a business model for providing free basic-rate Internet to everyone with a data capable phone, living in mobile coverage areas. The model is called Freemium Internet. The term "freemium" refers to a well-known business model for digital services, where free services or applications provide basic functions and more advanced functions are available by paying a fee. We examine the impact of applying the freemium business model to the provision of mobile Internet access and discuss net neutrality issues, mobile operator strategies, benefits for consumers, and the potential impact on government e-service programmes. The paper further investigates policy options and regulatory incentives to facilitate the adoption of Freemium Internet. |
| Keywords: | Universal Service,Next Billion,business models |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169459&r=reg |
| By: | Janssen, Maarten |
| Abstract: | Firms can communicate private information about product quality through a combination of pricing and disclosure where disclosure may be deliberately false. We examine the effect of regulation that penalizes false disclosure by firms in a competitive setting. The cost of false disclosure influences the mix of direct, costly information provision and price signaling in the market, and thereby market outcomes. Regulation reduces prices and the consumption distortion associated with price signaling. |
| JEL: | L13 L15 D82 D43 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc17:168159&r=reg |
| By: | Bergantino, Angela Stefania; Capozza, Claudia; Capurso, Mauro |
| Abstract: | In this paper, we aim at empirically uncovering the existence of price leadership in the passenger transport market, whose oligopolistic structure facilitates the strategic interaction among companies, with price being one of the principal elements of competition. The strategic interaction is particularly favoured by the fact that prices are easily observable online by all competitors. The analysis focuses on selected Italian city-pair markets that differ from one another with respect to the degree of inter and intra-modal competition and to the characteristics of the transport services provided. We exploit this heterogeneity to study transport operators’ strategic interactions in different competitive environments. We find evidence of the existence of price leadership, even though results differ across city-pair markets. In particular, it emerges that the incumbent operator, in either the air or the rail sector, always holds the role of leader. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:sit:wpaper:17_3&r=reg |
| By: | Tapas Kundu; Tore Nilssen |
| Abstract: | We develop a model to discuss a government’s incentives to delegate to bureaucrats the regulation of an industry. The industry consists of a polluting firm with private information about its production technology. Implementing a transfer-based regulation policy requires the government to make use of a bureaucracy; this has a bureaucratic cost, as the bureaucracy diverts a fraction of the transfer. The government faces a trade-off in its delegation decision: bureaucrats have knowledge of the firms in the industry that the government does not have, but at the same time, they have other preferences than the government, so-called bureaucratic drift. We study how the bureaucratic drift and the bureaucratic cost interact to affect the incentives to delegate. Furthermore, we discuss how partial delegation, i.e., delegation followed by laws and regulations that restrict bureaucratic discretion, increases the scope of delegation. We characterize the optimal delegation rule and show that, in equilibrium, three different regimes can arise that differ in the extent of bureaucratic discretion. Our analysis has implications for when and how a government should delegate its regulation of industry. We find that bureaucratic discretion reduces with bureaucratic drift but that, because of the nature of the regulation problem, the effect of increased uncertainty about the firm’s technology on the bureaucratic discretion depends on how that uncertainty is reduced. |
| Keywords: | bureaucracy, delegation, regulation, procurement |
| JEL: | D02 H10 L51 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_6589&r=reg |
| By: | Marcus, J. Scott; Molnar, Gabor |
| Abstract: | The sharing of fixed and especially of mobile networks is needed to address a range of current or emerging European policy requirements. At the same time, 5G networks are expected to address a range of different use cases, many of which have needs that differ greatly from one another (e.g. not only mobile broadband, but also automotive and Internet of Things (IoT)). To make things even more complex, some of these needs vary dynamically over time. Software Defined Networks (SDN) and Network Function Virtualisation (NFV) are two distinct but possibly mutually complementary technologies that might be used, either alone or together, to achieve greater flexibility as to how communication networks are used. The implementation of dynamically configurable networks, however, requires a redefinition of the major hardware and software modules that comprise the networks, the functions performed by each of these modules, their interfaces, and the associated protocols that allow the modules to communicate with each other. To what extent might the use of SDN and/or NFV technology be used to address these varying requirements within a common network? What benefits might be expected, and what costs? What practical, technological, economic, and regulatory policy implications might flow from the use of SDN and/or NFV in this way, and what are the interactions among these different dimensions? Our assessment suggests that any application of SDN and/or NFV to these challenges would raise concerns that would need to be addressed. Challenges of shared management, of information sharing among competitors, and of the maintenance of privacy (with implications for security) between multiple users of the network can be readily addressed, in our view. It is the resource management requirements that give us pause. We believe that the industry is many years away from implementing offering solid, commercially available, multi-vendor platforms that offer reliable solutions to the challenges of resource management in a shared SDN/NFV environment. If intelligently addressed, these resource management challenges might ultimately be viewed not just as a threat, but also as an opportunity. Analogous resource management challenges are already visible in existing non-SDN/NFV sharing scenarios. SDN/NFV potentially enables solutions that are more flexible, more highly automated, and less expensive to implement and to operate. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169482&r=reg |
| By: | Januschke, Oskar; Egg, Jakob; Mairhofer, Michael; Wimmer, Thomas; Reichl, Wolfgang; Ruhle, Ernst-Olav |
| Abstract: | The region of Lienz in Eastern Tyrol is a pioneer in municipal broadband networks and the activities take place in a state which itself also has a pioneering role in terms of how the public sector understands broadband issues. Over the last years, the 15 municipalities in the area of Lienz have initiated a project against the background of the following setting: 1. The municipalities in the region have taken the responsibility for deploying the passive network (ducts and fibers) based on a FTTB(H concept, partly supported by state aid. 2. The municipalities are confronted with a large number of tasks for the deployment and the operation and maintenance of the network. The selection of network providers for the active network and the provision of services has attracted wider interest. 3 active operators ensure competition in the end user market. The key aspects that remain as tasks for the municipality are network operation, maintenance, installation, fault repair, inspection and documentation. A number of lessons learnt can be listed especially with respect to processes for network deployment, maintenance, inspection etc. Municipalities have to dive into detailed operational details in order to achieve successful project results. Such detailed aspects of the project contain e.g. the fiber concept, the connections to the buildings, a delineation between tasks of operators and municipalities, inspection, documentation and operation and maintenance. A key factor is that projects tend to be small and struggle to achieve economies of scale |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169468&r=reg |
| By: | Mense, Andreas |
| Abstract: | The German Energy Performance of Buildings Directive requires sellers on the housing market to provide detailed information on expected yearly energy consumption per square meter. This paper uses variation in local fuel prices and climate, fuel types, and building ages to analyze the relationship between expected energy cost savings from energy efficient building structure and house prices in Germany. Results suggest that heating cost considerations are less relevant than previously thought. |
| JEL: | R21 R31 Q40 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc17:168212&r=reg |
| By: | Pedrós, Xavier; Bahia, Kalvin; Castells, Pau; Abate, Serafino |
| Abstract: | Assessing the impact of a merger – or predicting the impact of a merger – follows competition law and relies on economic practice. Competition authorities strive for consistency of approach, with assessments generally based on an analysis of the impact on prices, quality and innovation for consumers. Experience has shown, however, that the main measurement relied on by competition authorities is pricing; could the proposed merger increase prices in the short-term? How harmful would this be for the consumer? In the case of mergers in general, and mobile mergers in particular, we argue that whilst price is an important factor, there has been an over reliance on this single aspect of consumers outcomes and less consideration of quality and innovation. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse17:169453&r=reg |