Working Paper No. 558

Horizontal Mergers Without Synergies May Increase Consumer Welfare

Published: June 4, 2001 Pages: 13Keywords: Horizontal Merger; Welfare; Asymmetric InformationJEL-codes: D43; D82; G34; L10

Horizontal Mergers Without Synergies May Increase Consumer Welfare Johan Stennek


Markets with imperfect competition do not induce a cost-minimizing allocation of production between firms. The market's ability to rationalize production is even more limited if costs are private information to firms. Merger in such markets generate an efficiency gain associated with the pooling of information. Not only may costs be reduced, the price level and price variability may also decline and consumers may thus gain.

 

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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