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Issues of bonds increased in inter-war Japan, the main investors in bonds being banks because demand for loans declined in this period. Banks that were more tolerant of risks (that is, whose capital ratio was higher) mad...Read more...
This paper examines the impact of firms' conduct on market structure. It studies the evolution of concentration in UK manufacturing following the abolition of cartels using a theoretical framework based on Sutton's theor...Read more...
This paper examines the impact of price competition on advertising/R&D expenditure and market structure. General theoretical results are derived which restrict the space of possible outcomes regarding the behaviour of co...Read more...