An Empirical Assessment of the 2004 EU Merger Policy Reform | Zendy

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An Empirical Assessment of the 2004 EU Merger Policy Reform

Author(s) -

Duso Tomaso,

Gugler Klaus,

Szücs Florian

Publication year - 2013

Publication title -

the economic journal

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 4.683

H-Index - 160

eISSN - 1468-0297

pISSN - 0013-0133

DOI - 10.1111/ecoj.12081

Subject(s) - predictability , economic rent , legislation , deterrence theory , economics , public economics , merger control , microeconomics , political science , law , finance , physics , commission , quantum mechanics

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.

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