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| Author | : L. Lynne Kiesling |
| Publisher | : Routledge |
| Total Pages | : 200 |
| Release | : 2008-09-03 |
| Genre | : Business & Economics |
| ISBN | : 1135979812 |
This book delves into regulatory and technological change affecting the electricity industry and provides a previously unexplored synthesis of new institutional economics, experimental economics, evolutionary economics, and network theory.
| Author | : Canada. Transport Canada. Policy and Coordination. Research and Development |
| Publisher | : |
| Total Pages | : 134 |
| Release | : 1986 |
| Genre | : Transportation |
| ISBN | : |
| Author | : Fumiko Hayashi |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 2015-08-18 |
| Genre | : Business & Economics |
| ISBN | : 1513587765 |
This paper examines innovation, deregulation, and firm dynamics over the life cycle of the U.S. ATM and debit card industry. In doing so, we construct a dynamic equilibrium model to study how a major product innovation (introducing the new debit card function) interacted with banking deregulation drove the industry shakeout. Calibrating the model to a novel dataset on ATM network entry, exit, size, and product offerings shows that our theory fits the quantitative pattern of the industry well. The model also allows us to conduct counterfactual analyses to evaluate the respective roles that innovation and deregulation played in the industry evolution.
| Author | : Lawrence J. White |
| Publisher | : |
| Total Pages | : |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
The financial services sector in the United States is experiencing an era of rapid innovation. These changes are fueled by the rapid improvements in the two technologies - data processing and telecommunications - that are at the heart of financial services. The financial services sector is also one of the most heavily regulated sectors in the U.S. Economy - despite two decades of widespread deregulation. Though technological improvements and innovations are almost always healthy and beneficial for an economy, they can place serious strains on the incumbents in a particular industry or sector on which they are focused, and they may create challenges for public policy, especially in a heavily regulated industry. This has certainly been true for financial services. Further, the heavy overlay of government regulation on the financial services sector has certainly influenced the course of financial innovation and, in turn, been influenced by it. This paper will provide an overview of these interactions between financial innovation and financial regulation. Regulation clearly can be a hindrance to innovation; sometimes it may be a spur to innovation. And actual or prospective innovation may, in turn, be an important precursor to subsequent regulation. The social welfare consequence of these complex interactions, and the implications for the development of public policy, are themselves a challenge to disentangle; but an understanding of the processes of innovation and of regulation can clarify the interactions and thus help to structure the public policy debate.
| Author | : A. Kyrtsis |
| Publisher | : Springer |
| Total Pages | : 264 |
| Release | : 2015-12-11 |
| Genre | : Computers |
| ISBN | : 0230283179 |
This book is a valuable companion for everyone who is interested in the historical context of the co-evolution of financial markets and information technologies in the last 30 years. The contributors analyze system architectures and solution technologies in banking and finance by focusing on the particularities of certain practices and risks.
| Author | : Steven Morrison |
| Publisher | : Brookings Institution Press |
| Total Pages | : 100 |
| Release | : 2010-12-01 |
| Genre | : Business & Economics |
| ISBN | : 9780815708063 |
In 1938 the U.S. Government took under its wing an infant airline industry. Government agencies assumed responsibility not only for airline safety but for setting fares and determining how individual markets would be served. Forty years later, the Airline Deregulation Act of 1978 set in motion the economic deregulation of the industry and opened it to market competition. This study by Steven Morrison and Clifford Winston analyzes the effects of deregulation on both travelers and the airline industry. The authors find that lower fares and better service have netted travelers some $6 billion in annual benefits, while airline earnings have increased by $2.5 billion a year. Morrison and Winston expect still greater benefits once the industry has had time to adjust its capital structure to the unregulated marketplace, and they recommend specific public polices to ensure healthy competition.
| Author | : Martha Derthick |
| Publisher | : Brookings Institution Press |
| Total Pages | : 296 |
| Release | : 1985 |
| Genre | : Business & Economics |
| ISBN | : |
The authors discuss deregulation in contemporary politics and government.
| Author | : L. Lynne Kiesling |
| Publisher | : Routledge |
| Total Pages | : 427 |
| Release | : 2008-09-03 |
| Genre | : Business & Economics |
| ISBN | : 1135979804 |
Over the past 50 years the US economy has experienced economic dynamism and technological change at a dizzying pace, driven substantially by innovation in digital communication technology. This dynamism has had limited effects in the electricity industry, and institutional change within the industry to adapt to these changes has been variable. Many states in the U.S. do not participate in open wholesale markets, and even more states have either no retail markets or have implemented such a restricted and politicized version of retail markets that potential retail market entrants still face substantial entry barriers. This book explores institutional design and regulatory policies in the US electricity industry that can adapt to unknown and changing conditions produced by economic, social, and technological change. Whereas the dominant regulatory paradigm has traditionally been centralized economic and physical control based on natural monopoly theory and power systems engineering, the ideas presented and synthesized by Kiesling compose a different paradigm – decentralized economic and physical coordination through contracts, transactions, price signals, and integrated intertemporal wholesale and retail markets. Digital communication technology, and its increasing pervasiveness and affordability, make this decentralized coordination possible. Kiesling argues that with decentralized coordination, distributed agents themselves control part of the system, and in aggregate their actions produce order. Technology makes this order feasible, but the institutions, the rules governing the interaction of agents in the system, contribute substantially to whether or not order can emerge from this decentralized coordination process.
| Author | : Nancy L. Rose |
| Publisher | : University of Chicago Press |
| Total Pages | : 619 |
| Release | : 2014-08-29 |
| Genre | : Business & Economics |
| ISBN | : 022613816X |
The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
| Author | : Paul J.J. Welfens |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 225 |
| Release | : 2012-11-15 |
| Genre | : Business & Economics |
| ISBN | : 3540247629 |
Deregulation, privatization and internationalization of the telecommunications industry has brought about enormous changes within both the European and world economy. The dynamics of the Internet and the recent wave of innovations in the telecommunications and computer industry have given rise to new opportunities for entrepreneurship, employment and growth. No doubt, the dynamics and imperfections of today`s information markets raise crucial challenges for Western Europe. The changing patterns of innovation in the digital economy have forced governments to consider new strategies to promote innovation, network effects and growth. In response to these developments this text presents new approaches to macroeconomic modelling, growth theory and trade analysis. Still further, the deregulation policies of OECD-countries are analyzed. An indispensible text for academics and professionals who want to deepen their knowledge of how the New Economy revolution continues to change the economy.
