Issue 1

September 1988

Inter-Industry Variations in the Effect of Trade on Industry Performance

This paper develops an empirical model to measure the strength of import discipline across industries, allowing it to vary systematically with various features of industry market structure.

The Determinants of Horizontal Acquisitions: Evidence from the US Brewing Industry

We analyze the motives for horizontal mergers by estimating a logit model for the US brewing industry, 1950-1983.

Loan Guarantees, Wealth Transfers and Incentives to Invest

In both the United Kingdom and the United States loan guarantees have been used by government agencies and institutions for supporting companies in financial distress, and for the encouragement of new

Internal Capital Market Controls and Financial Performance in Multidivisional Firms

It is proposed that within the population of M-form firms, the control systems necessary to realize economic benefits from interrelationships between sub-units of a firm are incompatible with the syst

Minimum Bill Contracts: Theory and Policy

This paper examines the efficiency implications of minimum bill contracts and concludes that minimum bill provisions promote rather than impede efficient adaptation to changing circumstances.

The Economic Regulation of Private Industries by Price Constraints

Regulation of some newly privatised industries in the UK has been implemented by restricting annual price increases.

Diversification and Predation

One common assumption in the predatory pricing literature is that the predatory firm must be larger and have deeper pockets than the victim of predation, usually an entrant.