Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

2012

Economic Policy

Institution
Keyword
Publication
Publication Type
File Type

Articles 1 - 30 of 31

Full-Text Articles in Law

Antitrust And Nonexcluding Ties, Herbert J. Hovenkamp Dec 2012

Antitrust And Nonexcluding Ties, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Notwithstanding hundreds of court decisions, tying arrangements remain enigmatic. Conclusions that go to either extreme, per se legality or per se illegality, invariably make simplifying assumptions that frequently do not obtain. For example, by ignoring double marginalization or tying product price cuts it becomes very easy to prove that a wide range of ties are anticompetitive. At the other extreme, by ignoring foreclosure possibilities one can readily conclude that ties are invariably benign.

Ties have historically been thought to produce two kinds of competitive harm: “leverage,” or extraction; and foreclosure, or exclusion. The two theories are not mutually exclusive. Indeed ...


Comparative Antitrust Federalism: Review Of Cengiz, Antitrust Federalism In The Eu And The Us, Herbert J. Hovenkamp Dec 2012

Comparative Antitrust Federalism: Review Of Cengiz, Antitrust Federalism In The Eu And The Us, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

This brief essay reviews Firat Cengiz’s book Antitrust Federalism in the EU and the US (2012), which compares the role of federalism in the competition law of the European Union and the United States. Both of these systems are “federal,” of course, because both have individual nation-states (Europe) or states (US) with their own individual competition provisions, but also an overarching competition law that applies to the entire group. This requires a certain amount of cooperation with respect to both territorial reach and substantive coverage.

Cengiz distinguishes among “markets,” “hierarchies,” and “networks” as forms of federalism. Markets are the ...


Neoclassical Labor Economics: Its Implications For Labor And Employment Law, Michael L. Wachter Dec 2012

Neoclassical Labor Economics: Its Implications For Labor And Employment Law, Michael L. Wachter

Faculty Scholarship at Penn Law

Whereas law and economics appears throughout business law, it never caught on in legal commentary about labor and employment law. A major reason is that the goals of the National Labor Relations Act (NLRA), the country’s foundational labor law, are at war with basic principles of economics. The lack of integration is unfortunate if understandable. Notwithstanding the NLRA’s normative goal to keep wages out of competition, economic analysis applies as centrally to labor markets as to any other market.

One of the NLRA’s primary goals is to equalize bargaining power. Its drafters envisioned achieving this goal through ...


Advance Notice Provisions In Plant Closing Legislation: Do They Matter?, Ronald Ehrenberg, George Jakubson Nov 2012

Advance Notice Provisions In Plant Closing Legislation: Do They Matter?, Ronald Ehrenberg, George Jakubson

Ronald G. Ehrenberg

This paper evaluates the cases for and against plant closing legislation. In spite of the growth of legislative efforts in the area, there has been surprisingly little effort devoted to analyzing what the effects are of existing plant closing legislation, of provisions in privately negotiated collective bargaining agreements that provide for advance notice in case of plant shutdowns and/or layoffs, and of voluntary employer provision of advance notice. The paper summarizes the results of previous research, and our own empirical analyses that used the January 1984 Bureau of Labor Statistics Survey of Displaced Workers, on the effects of advance ...


Problematique, David A. Westbrook Nov 2012

Problematique, David A. Westbrook

Other Scholarship

No abstract provided.


Workers’ Rights: Rethinking Protective Labor Legislation, Ronald G. Ehrenberg Oct 2012

Workers’ Rights: Rethinking Protective Labor Legislation, Ronald G. Ehrenberg

Ronald G. Ehrenberg

This paper focuses on a few directions in which protective labor legislation might be expanded in the United States over the next decade and the implications of expansion in each area for labor markets. Specifically, it addresses the areas of hours of work, unjust dismissal, comparable worth, and plant closings. In each case, the discussion stresses the need to be explicit about how private markets have failed, the need for empirical evidence to test such market failure claims, the need for economic analysis of potential unintended side effects of policy changes, and the existing empirical estimates of the likely magnitudes ...


Antitrust And The Costs Of Movement, Herbert J. Hovenkamp Oct 2012

Antitrust And The Costs Of Movement, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Antitrust is rightfully concerned about the structure of markets as well as the bargaining that occurs in them. As a result, the absolute cost of redeploying resources can be just as important as the transaction costs of arranging for their movement. This paper examines several broad themes in antitrust, considering the role of various assumptions about the costs of getting resources moved toward superior positions and the ability of the antitrust system to facilitate this movement. Part II very briefly examines structuralism as a theory underlying antitrust enforcement, particularly its assumptions about the difficulty and costs of moving resources. Harvard ...


Competition In Information Technologies: Standards-Essential Patents, Non-Practicing Entities And Frand Bidding, Herbert J. Hovenkamp Oct 2012

Competition In Information Technologies: Standards-Essential Patents, Non-Practicing Entities And Frand Bidding, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Standard Setting is omnipresent in networked information technologies. Virtually every cellular phone, computer, digital camera or similar device contains technologies governed by a collaboratively developed standard. If these technologies are to perform competitively, the processes by which standards are developed and implemented must be competitive. In this case attaining competitive results requires a mixture of antitrust and non-antitrust legal tools.

FRAND refers to a firm’s ex ante commitment to make its technology available at a “fair, reasonable and nondiscriminatory royalty.” The FRAND commitment results from bidding to have one’s own technology selected as a standard. Typically the FRAND ...


Putting Nevada In Perspective: State And Local Government Budgets In Recession And Recovery, Tracy M. Gordon Sep 2012

Putting Nevada In Perspective: State And Local Government Budgets In Recession And Recovery, Tracy M. Gordon

Brookings Scholar Lecture Series

Nevada, the state most affected by the Great Recession of 2008, faced one of the nation's worst state budget shortfalls in 2011. This presentation examines state budget drivers, including constitutional requirements, tax and spending limitations, federal statutes, demographics, and the resulting policy choices to evaluate how state-level decisions affect local jurisdictions that continue to cope with lower property values, foreclosures, and high unemployment. It will also discuss longer term challenges including rising health care costs and retiree pensions as well as issues surrounding implementation of the Affordable Care Act.


A Natural Experiment: Asset Manager Liability, Cally Jordan Aug 2012

A Natural Experiment: Asset Manager Liability, Cally Jordan

Faculty Papers & Publications

It is a natural experiment: two highly integrated national economies, sharing a vast continent, a common language and hundreds of years of common experience. They are bound by a free trade agreement which has fostered strong trade flows in goods, services and capital. Yet, in important respects, the structural characteristics of their financial institutions, and the regulatory framework in which they operate, are different, so different in fact, that one country has been crippled for several years now by the global financial crisis and the other has emerged virtually unscathed. The countries, of course, are Canada and the United States ...


Poverty In America: Why Can't We End It?, Peter B. Edelman Jul 2012

Poverty In America: Why Can't We End It?, Peter B. Edelman

Georgetown Law Faculty Publications and Other Works

The lowest percentage in poverty since we started counting was 11.1 percent in 1973. The rate climbed as high as 15.2 percent in 1983. In 2000, after a spurt of prosperity, it went back down to 11.3 percent, and yet 15 million more people are poor today.

At the same time, we have done a lot that works. From Social Security to food stamps to the earned-income tax credit and on and on, we have enacted programs that now keep 40 million people out of poverty. Poverty would be nearly double what it is now without these ...


International Financial Standards And The Explanatory Force Of Lex Mercatoria, Cally Jordan Jul 2012

International Financial Standards And The Explanatory Force Of Lex Mercatoria, Cally Jordan

Faculty Papers & Publications

The global financial crisis has cast a strong light on some hitherto obscure corners of the financial world, provoking an outpouring of calls for concerted international action. “Hard law” having disappointed, can “soft law”, in the form of international financial standards, substitute for traditional national legislation. This article examines some of the difficulties associated with the “international standards as soft law” discourse.

First of all, conceptual problems in the “soft law” discourse itself reveal profoundly different patterns of legal thought cutting across national boundaries, resulting in different understandings of international financial standards. Secondly, recent experience, over the past decade, with ...


Off Premises Sunday Sales In Georgia Localities: Will It Affect Traffic Accidents?, Forrest Rose, Nathan Dunkel Jun 2012

Off Premises Sunday Sales In Georgia Localities: Will It Affect Traffic Accidents?, Forrest Rose, Nathan Dunkel

Georgia Journal of Public Policy

Discussions about public policy relating to alcohol cause a polarizing reaction to many people in this country, particularly in the South. The state of Georgia, for example, has a long history of policies regulating alcohol which reflects its membership as part of the “Bible Belt” where Sunday is regarded as a holy day and therefore alcohol cannot and should not be purchased on this day. Given that the impetus of alcohol control policy has generally widened the availability of alcohol since the Prohibition, the moral concerns of voters regarding alcohol regulation have been superseded in the public debate with safety ...


Los Acuerdos De Libre Comercio Norte-Sur Desde La Perspectiva Del Análisis Económico Del Derecho De Los Contratos, Iván A. Rojas V, José Manuel Alvarez Jun 2012

Los Acuerdos De Libre Comercio Norte-Sur Desde La Perspectiva Del Análisis Económico Del Derecho De Los Contratos, Iván A. Rojas V, José Manuel Alvarez

Iván Rojas V

El documento examina los acuerdos de libre comercio (ALC) mediante el Análisis Económico del Derecho y la Teoría Económica del Contrato desarrollada por Cooter y Ulen (1997), abordando temas como el compromiso, el cumplimiento, el daño y la confianza en este tipo de “contratos internacionales” entre Estados e identificando algunas implicaciones sobre los acuerdos Norte – Sur, caracterizados por la existencia de asimetrías entre las partes, las cuales pueden distorsionar el resultado final del acuerdo, favoreciendo a países desarrollados, mediante la adopción de decisiones no cooperativas y no eficientes según la teoría de juegos.


Occupy Wall Street: A Movement In The Making, Hannah G. Kaneck May 2012

Occupy Wall Street: A Movement In The Making, Hannah G. Kaneck

Senior Theses and Projects

It has changed the landscape of America in just the last eight months. Cries of “We are the 99%” fill the air. People are angry. Many will argue for years to come what the occupation has actually done for American society, politics and culture. It is clear though that things are changing. A precipice has been reached and it does not seem that those truly devoted to changing the system will back away quietly. Over the last 28 weeks I have read countless articles and interviews of occupiers from all over the world who have converged on Zuccotti Park in ...


Rapid Re-Housing Of Families Experiencing Homelessness In Massachusetts: Maintaining Housing Stability, Tim H. Davis, Terry S. Lane Apr 2012

Rapid Re-Housing Of Families Experiencing Homelessness In Massachusetts: Maintaining Housing Stability, Tim H. Davis, Terry S. Lane

Center for Social Policy Publications

The American Recovery and Reinvestment Act of 2009 (“Recovery Act”) provided $1.5 billion for the Homelessness Prevention and Rapid Re-Housing Program (HPRP), a temporary program that addressed both homelessness prevention and rapid re-housing of families already experiencing homelessness. The U.S. Department of Housing and Urban Development (HUD) allocated $44.5 million, including $26.1 million to individual Massachusetts communities and $18.4 million to the Commonwealth of Massachusetts. Of its funds, the state allocated $8.3 million for rapid re-housing of families who were living in shelters or motels.

This report explores the experiences of 486 of these ...


Foreclosing Foreclosure: Escaping The Yawning Abyss Of The Deep Mortgage And Housing Crisis, Aleatra P. Williams Apr 2012

Foreclosing Foreclosure: Escaping The Yawning Abyss Of The Deep Mortgage And Housing Crisis, Aleatra P. Williams

Northwestern Journal of Law & Social Policy

In 2007, Rick Sharga, vice president of marketing at RealtyTrac, stated that with more stringent lending and underwriting standards, “we will likely see a significant foreclosure decrease” within the next three years. However, a sustained and considerable decrease in foreclosures has yet to occur. In fact, the real estate market downfall and resulting mortgage and housing crisis have proven to be wider, deeper, and more serious than first anticipated. Since 2007, millions of homeowners faced, and continue to face, foreclosure proceedings. To provide protections for homeowners, federal and state actors have attempted regulatory and legislative solutions to stem the foreclosure ...


Halos, Alibis And Community Development: A Cross National Comparison Of How Governments Spend Revenue From Gambling, Lynn Gidluck Apr 2012

Halos, Alibis And Community Development: A Cross National Comparison Of How Governments Spend Revenue From Gambling, Lynn Gidluck

Occasional Papers

This paper provides a cross-national comparison of how governments around the world distribute revenues from state-directed gambling and how these choices have been justified by proponents and vilified by critics. Case studies where governments have popularized gambling expansion by “earmarking” revenues for particular good causes and where the state has collaborated with the voluntary sector to deliver programs from this revenue stream are examined. Lessons learned from challenges of various approaches are considered.


Universities Must Continue To Bargain, Thomas J. Kriger Mar 2012

Universities Must Continue To Bargain, Thomas J. Kriger

Journal of Collective Bargaining in the Academy

Faculty with collective bargaining rights across the nation will—and should—agree with Daniel Julius’s conclusion that “College and university leaders should continue to honor collectively negotiated agreements maintaining relationships with faculty unions.” When implemented correctly, these agreements, as Julius points out, serve the interests of both faculty and administrators. Such agreements codify and protect due process rights for both sides. They also provide both faculty and administrators with a level of predictability and stability in labor relations that are necessary on today’s complex and hectic campuses. While I agree with almost everything Julius has written here, there ...


Unaffordable “Affordable” Housing: Challenging The U.S. Department Of Housing And Urban Development Area Median Income, Michael E. Stone Mar 2012

Unaffordable “Affordable” Housing: Challenging The U.S. Department Of Housing And Urban Development Area Median Income, Michael E. Stone

Michael E. Stone

There is no such thing as “affordable” housing. Affordability is not a characteristic of housing: It is a relationship between housing and people. For some people, all housing is affordable, no matter how expensive. For others, no housing is affordable, no matter how cheap.


Oportunidades De Desarrollo Productivo De La Población De Afectación Prioritaria En La Operación Estratégica Fontibón – Aeropuerto Eldorado – Engativá, Iván A. Rojas V Jan 2012

Oportunidades De Desarrollo Productivo De La Población De Afectación Prioritaria En La Operación Estratégica Fontibón – Aeropuerto Eldorado – Engativá, Iván A. Rojas V

Iván Rojas V

The book analyzes the case of Operation Strategic Fontibón - Eldorado Airport - Engativa (OEFAE) and the implications on the urban economy of the city and potential opportunities for productive development for the population affected by the project in 2010 in Bogotá DC. El libro analiza el caso de la Operación Estrategica Fontibón - Aeropuerto ElDorado - Engativa (OEFAE) y las implicaciones sobre la economía urbana de la ciudad y las posibles oportunidades de desarrollo productivo para la población afectada por el proyecto en el 2010 en la ciudad de Bogotá DC.


The Joireman Collection, Evangelical Advocacy: A Response To Global Poverty Jan 2012

The Joireman Collection, Evangelical Advocacy: A Response To Global Poverty

Bibliographies

The Joireman collection is a list of bibliographic resources gathered by political scientists to examine the relationship between religion and politics as seen from within several Christian traditions: Evangelical, Pentecostals, Anglican, Reformed, Lutheran, and Roman Catholic. The list comes from the book Church, State, and Citizen: Christian Approaches to Political Engagement edited and contributed by Sandra F. Joireman.


Cadbury Twenty Years On, Cally Jordan Jan 2012

Cadbury Twenty Years On, Cally Jordan

Faculty Papers & Publications

This year marks the twentieth anniversary of the publication of the Cadbury Report, one of the most significant events in modern corporate governance. The Cadbury Report, and its simple two page 'best practices', triggered a global debate on corporate governance. 'Cadbury' codes of corporate governance spread like wildfire. The legacy of the Cadbury Report lives on in the UK with no diminution in the appeal of its voluntary code/comply or explain approach to corporate governance. But there are several clouds looming on the horizon. Comply or explain and voluntary codes of corporate governance appear to have run their course ...


State Bankruptcy From The Ground Up, David A. Skeel Jan 2012

State Bankruptcy From The Ground Up, David A. Skeel

Legal Studies and Business Ethics Papers

The nineteenth-century English poet William Wordsworth famously defined poetry as the "spontaneous overflow of powerful feelings ... recollected in tranquility."1 By this definition, there is something a little poetic about the recent debate as to whether Congress should enact a bankruptcy law for states. In late 2010, as the extent of the fiscal crisis in many states became clear, a handful of commentators and politicians proposed that Congress enact a bankruptcy law for states.2 "If Congress does its part by enacting a new bankruptcy chapter for states," one advocate concluded with a somewaht hyperbolic flourish, California governor "Jerry Brown ...


United States Sovereign Debt: A Thought Experiment On Default And Restructuring, Charles W. Mooney Jr. Jan 2012

United States Sovereign Debt: A Thought Experiment On Default And Restructuring, Charles W. Mooney Jr.

Faculty Scholarship at Penn Law

This chapter adopts the working assumption that it is conceivable that at some time in the future it would be in the interest of the United States to restructure its sovereign debt (i.e., to reduce the principal amount). It addresses in particular U.S. Treasury Securities. The chapter first provides an overview of the intermediated, tiered holding system for book-entry Treasuries. For the first time the chapter then explores whether and how—logistically and legally—such a restructuring could be effected. It posits the sort of dire scenario that might make such a restructuring advantageous. It then outlines a ...


Open Textbooks And Provincial Government Policy: A Look At The Issues, Lisa Di Valentino Jan 2012

Open Textbooks And Provincial Government Policy: A Look At The Issues, Lisa Di Valentino

FIMS Publications

In 2012, the British Columbia government announced a plan to fund a program that will result in the creation of open access textbooks for 40 lower-year university courses — the first such program in any of the provinces. This paper will argue that Ontario should follow British Columbia’s lead and invest in the development of a project to create and promote the use of open textbooks. The introduction will discuss the concept of open textbooks and the various initiatives and legislation that have been introduced in the United States, and British Columbia’s plan will be described in more detail ...


Antitrust And The Movement Of Technology, Herbert J. Hovenkamp Jan 2012

Antitrust And The Movement Of Technology, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Patents create strong incentives for collaborative development. For many technologies fixed costs are extremely high in relation to variable costs. A second feature of technology that encourages collaborative development is the need for interoperability or common standards. Third, in contrast to traditional commons, intellectual property commons are almost always nonrivalrous on the supply side. If ten producers all own the rights to make a product covered by a patent, each one can make as many units as it pleases without limiting the number that others can make. That might seem to be a good thing, but considered ex ante it ...


Locking The Doors To Discovery? Assessing The Effects Of Twombly And Iqbal On Access To Discovery, Jonah B. Gelbach Jan 2012

Locking The Doors To Discovery? Assessing The Effects Of Twombly And Iqbal On Access To Discovery, Jonah B. Gelbach

Faculty Scholarship at Penn Law

Many observers believe the Supreme Court’s Twombly and Iqbal opinions have curtailed access to civil justice. But previous empirical studies looking only at Rule 12(b)(6) grant rates have failed to capture the full effect of these cases because they have not accounted for party selection—changes in party behavior that can be expected following changes in pleading standards. In this Note, I show how party selection can be expected to undermine the empirical usefulness of simple grant-rate comparisons. I then use a conceptual model of party behavior that allows me to derive an adjusted measure of Twombly ...


Qui Tam: Is False Claims Law A Model For International Law?, Paul D. Carrington Jan 2012

Qui Tam: Is False Claims Law A Model For International Law?, Paul D. Carrington

Faculty Scholarship

No abstract provided.


Markets In Merger Analysis, Herbert J. Hovenkamp Jan 2012

Markets In Merger Analysis, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Antitrust merger policy suffers from a disconnect between its articulated concerns and the methodologies it employs. The Supreme Court has largely abandoned the field of horizontal merger analysis, leaving us with ancient decisions that have never been overruled but whose fundamental approach has been ignored or discredited. As a result the case law reflects the structuralism of a bygone era, focusing on industrial concentration and market shares, largely to the exclusion of other measures of competitive harm, including price increases. Only within the last generation has econometrics developed useful techniques for estimating the price impact of specific mergers in differentiated ...