TPP 视野下上海自贸区的法治思维与问题

以TPP为代表的国际经贸新规则一方面在投资、金融、服务贸易领域强调放松管制,另一方面则加强对劳工标准、环境、公平竞争的有效监管。上海自贸区的法治建设体现了主动与国际经贸新规则对接的特点。然而,在权威的立法依据、地方立法与部委规章之间的关系、对抽象性行政行为的司法审查、加强司法审判中的商事思维、加大自贸区地方立法中使用国际通行规则的表述等问题上,仍需要深入思考,在法治框架下找到合理解决方案。     

How Applicable is the Dominant Firm Model of Price Leadership?

In this paper, we examine the usefulness of the dominant firm model of price leadership to serve as a benchmark for organizing behavior in laboratory markets. This well established model, whose origins can be traced back over a hundred years, has been recently applied to such landmark antitrust cases as Standard Oil and Alcoa and more recently to the analysis of deregulated markets for electric power. Our results indicate that in posted offer markets the dominant firm quite often produces more than the model's benchmark and sometimes at much greater prices. With sealed offer auction rules and a low elasticity of fringe supply, the dominant firm produces the theoretical output at a price greater than the prediction. However, with a high elasticity of fringe supply, the dominant firm produces more output over a wide range of prices that includes the predicted price.     

行政垄断、放松规制与产业绩效——基于原油开采业的实证分析

我国原油开采业是行政垄断而不是自然垄断,而行政垄断下原油开采业的市场绩效表明了其危害性.通过对我国原油开采业1998年的隐性放松规制进行界定,建立计量模型对这次放松规制的效果进行了实证分析,从理论和实践两方面证实了放松规制有利于我国原油开采业产业绩效的提升.     

Deregulation or Governmental Intervention？ A Counterfactual Perspective on China＇s Electricity Market Reform

The long-standing severe power shortage in China has provoked much debate on whether China should further promote market-oriented electricity reform. The present paper addresses this issue by analyzing the impacts of deregulation of the electricity generation sector and retailing activities on other sectors, the macroeconomy and electricity users. A countetfactual scenario analysis is used based on a simplified computable general equilibrium framework. We find that deregulation can significantly improve the efficiency of electricity production, increase employment and enhance household welfare. These nontrivial findings can help to resolve many controversies about governmental intervention during China＇s economic transition. Our findings have two implications relating to policy feasibility and applicability; that is, competition in the electricity retail market shouM be phased in, and the necessary arrangements for unemployment in incumbent firms shouM be considered.     

The dynamics of US bank profitability

We examine the determinants of profitability for a large sample of US banks over the period 1984–2010. Specifically, we assess the extent to which short-run profits persist, and whether such persistence is affected by changes in regulation and the recent financial crisis. Our findings suggest that the competitive process reduces positions of abnormal profitability, albeit this is not immediate. There is also evidence that changes in regulation enacted during the 1990s affected both the level and persistence of bank profitability. The financial crisis of 2007–2010 appears to have resulted in an increase in the persistence of bank profitability.     

放松规制背景下的政府规制重构

传统的自然垄断理论主张政府应对自然垄断行业实施规制。但20世纪70年代以来,由于政府规制的失灵、技术和市场条件的变化以及规制理论的发展,自然垄断行业放松规制的改革之风盛行。在这一背景下,转变规制重点、强化对规制者的规制和改变规制方式的“三位一体”的政府规制重构是必然的选择。     

试析我国民航业的管制与放松管制问题

本文作者从自然垄断的概念出发,讨论了民航业的自然垄断特征,然后对我国民航业的管制措施及其对我国民航业的影响进行了深入的分析,最后提出了放松管制促进我国民航业发展的对策措施。     

Competitive heterogeneity,cohorts, and persistent advantage

Research summary: Juxtaposing competing theories of whether superior profits endure, this article investigates differences in the rates at which firms' profit advantages persist following a significant regulatory change in the rules governing industry competition. Such a change creates two cohorts of firms, Entrants that lack experience in the industry and Incumbents that competed in the industry before the regulatory shift. The findings show that both cohorts' profit advantages persist, but at different rates: Superior performing Incumbents sustain an advantage longer than superior performing Entrants. This result is counterintuitive since Entrants are not constrained by a legacy of competing under the prior regime. Overall, the findings indicate that stages of a firm's development and of an industry's evolution are critical to understanding how long superior profits persist. Managerial summary: State and federal institutions employ regulations in an attempt to address market failures and to create a stable set of market and nonmarket relationships among relevant actors. A byproduct of this stability is decreased competition, and in turn, reduced incentives for firms to develop efficient operations. One might expect then that deregulation would fundamentally disrupt incumbent firms' abilities to develop and sustain a profit advantage. We find the reverse: Over time, some firms in the Incumbent cohort develop persistent, albeit temporary, profit advantages despite an onslaught of Entrants. Thus, while deregulation shakes out inefficient firms, it may strengthen, rather than threaten the profit trajectories of incumbent firms over time. Advantages developed by superior performing Entrants also endure, but for a shorter duration relative to Incumbents. Copyright © 2015 John Wiley & Sons, Ltd.     

Competition in railway monopolies

The transformation of railways from monopolies to markets open for internal competition is described and explained in a theoretical framework, and a model for the evaluation of the transformation’s impact on efficiency is developed. Using the model in an empirical study of the Swedish railway sector, it is found that external competitive pressure is strong in most supply segments and, focusing on loss of scale advantages, that the transformation will result in significant costs. Comparing the potential for gains by competition against the costs, it is concluded that increased efficiency by internal competition only seems possible to achieve for two train products: domestic combined transport and dedicated trains (both freight services).     

Airline deregulation and the tourist industry

Deregulation can be blamed for airline financial losses only if one plays down other factors (eg the recession, rising costs), and ignores those airlines making profits in deregulated markets. Other benefits arising from deregulation include freedom to change fares and networks rapidly. Given the importance to the tourism industry of having efficient airlines cater for their customers, the tourism industry should be favouring further liberalization.