| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7098 |
| DP7098 The Dynamic Effects of Monetary Policy: A Structural Factor Model Approach | |
| Mario Forni; Luca Gambetti | |
| 发表日期 | 2008-12-23 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | We analyze the optimal dynamic policy of an antitrust authority towards horizontal mergers when merger proposals are endogenous and occur over time. Approving a currently proposed merger will affect the profitability and welfare effects of potential future mergers, the characteristics of which may not yet be known to the antitrust authority. We show that, in many cases, this apparently difficult problem has a simple resolution: an antitrust authority can maximize discounted consumer surplus by using a completely myopic merger review policy that approves a merger today if and only if it does not lower consumer surplus given the current market structure. |
| 主题 | Industrial Organization |
| 关键词 | Efficiency gain Horizontal merger market power Merger policy Oligopoly |
| URL | https://cepr.org/publications/dp7098 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535935 |
| 推荐引用方式 GB/T 7714 | Mario Forni,Luca Gambetti. DP7098 The Dynamic Effects of Monetary Policy: A Structural Factor Model Approach. 2008. |
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