Working Paper No. 604

Endogenous Asset Ownership Structures in Deregulated Markets

Publicerad: October 27, 2003Antal sidor: 33Nyckelord: Privatization; Ownership; FDI; Auctions; Employment GuaranteesJEL-koder: D44; F23; L10; L40

Endogenous Asset Ownership Structures in Deregulated Markets Pehr-Johan Norbäck and Lars Persson


This paper determines the equilibrium ownership structure in an emerging market deregulated by privatization and investment liberalization. It is shown that bidding competition in the privatization stage is necessary but not sufficient for reaching an efficient equilibrium market structure. Competition in the ensuing entry stage is also necessary. 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 by that creating a less competitive market structure.

 

Pehr-Johan Norbäck

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Lars Persson

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Tel: 08 665 4504
lars.persson@ifn.se

Kollektivavtal och lönebildning i en ny tid

Kollektivavtal-framsida.gif

 Kollektivavtal och lönebildning i en ny tid av Lars Calmfors, Simon Ek och Per Skedinger, IFN, samt Ann-Sofie Kolm, Stockholms universitet, analyseras olika sätt att göra lönebildningen mer flexibel. Analysen utmanar den etablerade synen inom partsorganisationerna på hur lönebildningen bör fungera. 

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