2006–2010

Endogenous Asset Ownership Structures in Deregulated Markets

Reprint No. 2006:7

Author(s): Pehr-Johan Norbäck and Lars PerssonYear: 2006 Title: European Economic Review Volume (No.): 50 (7) Pages: 1729–1752


This paper determines the equilibrium ownership structure in an emerging market deregulated by a joint privatization and investment liberalization. It is shown that bidding competition in the privatization stage is not sufficient for reaching an efficient equilibrium market structure. Competition in the ensuing entry stage is also required. Otherwise, one firm can induce another to take the role of the weak firm in the subsequent product market competition, by making concessions in the bidding in the privatization auction. It is also shown that Employment Guarantees may ‘‘help’’ the buyer of the privatized firm ‘‘abstain’’ from investing and thus create a less competitive market structure.


Reference:
Norbäck, Pehr-Johan and Lars Persson (2006), "Endogenous Asset Ownership Structures in Deregulated Markets". European Economic Review 50(7), 1729–1752.

Pehr-Johan Norbäck

Contact

Ph: +46 8 665 4522
Mob: +46 73 574 3379
pehr-johan.norback@if...

Lars Persson

Contact

Ph: +46 8 665 4504
lars.persson@ifn.se

Integrating Immigrants into the Nordic Labour Markets

An Overall Perspective

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Denmark, Finland, Norway and Sweden face similar problems of integrating large groups of immigrants, especially low-educated ones from outside the EU, into their labour markets. In this volume, edited by Lars Calmfors, IFN, and Nora Sánchez Gassen in cooperation with researchers from across the Nordic Region analyse how labour market integration of immigrants can be promoted. 

About the book

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