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Exchange rate market efficiency: across and within countries

Article Abstract:

A study was conducted on the efficiency of exchange rates among and within G-7 countries for the year 1973 to 1996 using the cointegration method. Efficiency among countries was obtained when there was no co-movement in the spot and future exchange rates. However, within countries efficiency is only found when co-movement of rates occurs. Inefficiency was also found because there was no movement in both the depreciation rates and future premiums.

Exchange Rates, Economic aspects, Foreign exchange, Industrialized countries, Industrial nations, Group of 7

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The social cost of entry contest in Cournot-Bash oligopoly

Article Abstract:

In an oligopoly or partial deregulation of entry barriers, social welfare is reduced where incumbents and potential entrants compete during the deregulation process, one side applying for a license and the other denying the application. If no license is issued the regulation regime remains the same, otherwise the entrants compete against one another if just a few are issued.

South Korea, Competitions, Licenses, Oligopolies

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Deregulating and privatizing statutory monopolies

Article Abstract:

The paper investigates the welfare effects of market liberalization and privatization upon the entry of an unregulated firm where its costs are asymmetrical to that of a regulated incumbent firm. Effects on social welfare are desirable where there is privatization.

Luxembourg, Influence, Privatization, Privatization (Business), Deregulation, Monopolistic competition

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