This Working Paper examines the setting of the X-factor in price cap regulation. We show the US-style productivity-offset X relies on assumptions that are unlikely to hold empirically. We propose a more direct X, where X equals the forecast of TFP growth less the difference between industry input and consumer price growth.
12th Conference on Postal and Delivery Economics. Cork, Ireland. June 2-5, 2004.
European Outsourcing Association’s Conference. Amsterdam, the Netherlands. June 9-10, 2004.
Ex-post Evaluation of the Impact of Rescue and Restructuring Aid on the International Competitiveness of the Sector(s) Affected by Such Aid
London Economics was commissioned by the European Commission – DG Enterprise to evaluate the impact of rescue and restructuring aid on the international competitiveness on the sectors affected by such aid. This ex-post evaluation focuses on the survival of companies having received rescue and/or restructuring State aid, the social and economic effects of such aid […]
TIGER Conference The New Economy and Post-Socialist Transition. Warsaw, April 10-11, 2004.
The report for the European Commission – DG Competition provides a pan-European overview of trading, clearing and central counterparties, settlement, and custody, of equity, corporate and government bonds, and the related infrastructures (exchanges, clearing institutions and central counterparties, central securities depositories and international central securities depositories at primary level and international central securities depositories and […]
Postal Insight, Pitney Bowes, 2004. Swinand, G. and Lyons, S.
In the context of merger analysis, statistical inference is often used in the guise of a hypothesis test, where the test is on whether the merger will be harmful to consumers (and/or possibly to other competitors). The aim of this Working Paper is to review the methodological choices regarding the use of statistical inference. We […]
This Report for the Norwegian Ministry of Transport and Communications provides consultancy advice on the consequences of further liberalisation of the postal market in Norway. The study evaluates the impact of postal liberalisation, based on qualitative analysis and quantitative modelling. Under each of the models, we assess the impacts on liberation across various scenarios, ranging […]
This report for OFWAT provides an assessment of the scope for future operating and capital efficiency in the water and sewerage industries by using both a “top-down” and “bottom-up” approach. The top-down approach assesses the scope for future efficiency improvements by analysing past productivity trends in the water and sewerage industries and by undertaking a […]