AN EMPIRICAL ASSESSMENT OF THE 2004 EU MERGER POLICY REFORM

• 成果类型: Article
• 署名作者: Duso, Tomaso; Gugler, Klaus; Szuecs, Florian
• 署名单位: Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Vienna University of Economics & Business
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12081
• 发表日期: 2013
• 页码: F596-F619
• 关键词: econometric-analysis; horizontal mergers

摘要

We evaluate the economic impact of the change in European merger legislation in 2004 and propose a general framework focusing on four different policy dimensions: predictability, decision errors, reversion of anti-competitive rents and deterrence. We find that after the reform, the predictability and the accuracy of decisions have improved. Yet, the policy shift away from prohibitions, which entail both an immediate and a deterrent effect, does not seem to be well grounded.