ERN: Regulation (European) (Topic)最新文献

{"title":"Analysing the Impact of Renewable Energy Regulation on Retail Electricity Prices","authors":"P. D. del Río, P. Mir-Artigues, Elisa Trujillo-Baute","doi":"10.2139/ssrn.2838881","DOIUrl":"https://doi.org/10.2139/ssrn.2838881","url":null,"abstract":"Retail electricity prices have substantially increased in the last decade in the European Union (EU) as a result of different regulations, raising the concern of policy makers. The growth in the support costs for electricity from renewable energy sources (RES-E) has often been singled out as a main driver of these prices. The aim of this paper is to analyse the degree of influence of RES-E promotion costs on the evolution of the retail price of electricity in the EU Member States. The analysis is carried out for households as well as for industry, with the help of a panel data econometric model. Our results show that the impact of renewable energy promotion costs on the retail electricity prices is positive and statistically significant, although relatively small. Differences across consumer types can be observed. An increase of 1% in those costs induces an average increase of only 0.023% in industrial retail prices and 0.008% in the residential retail prices. This impact on retail prices is mediated by the type of support scheme being adopted, with price-based support instruments showing a greater effect than quantity-based ones.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115591720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Single Resolution Mechanism in the European Union: Good Intentions and Unintended Evil","authors":"J. Dermine","doi":"10.2139/SSRN.2838793","DOIUrl":"https://doi.org/10.2139/SSRN.2838793","url":null,"abstract":"Following the global financial crisis of 2008, a new architecture for global financial markets has emerged. It aims to sever the link between bank losses, state aid and sovereign risk, and put an end to the doctrine of “too-big-to fail” and moral hazard thanks to the privatization of losses. As of January 2016, the European Union operates the single resolution mechanism (SRM) for banks in the euro-zone countries. In our opinion, in its current form the SRM creates a unintended evil: a significant increase in the likelihood of bank runs. Since this is the prime cause of financial crises around the world, there is an urgent need to address this shortcoming. Five alternative solutions are discussed.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"105 11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114448605","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Economic Impacts of Telecommunications Networks and Broadband Internet: A Survey","authors":"Irene Bertschek, Wolfgang Briglauer, Kai Hüschelrath, B. Kauf, T. Niebel","doi":"10.2139/ssrn.2828085","DOIUrl":"https://doi.org/10.2139/ssrn.2828085","url":null,"abstract":"We provide a structured overview of the quantitative literature on the economic impacts of telecommunications networks and broadband internet. Differentiating between wireline and wireless technologies as well as broadband availability and broadband adoption, respectively, we review studies investigating the impacts on economic growth, employment and regional development as well as productivity and firm performance. Eventually, the survey does not only allow the identification of main research gaps but also provides useful information for policy makers on the significance and importance of communication networks for social welfare.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128261610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF): Legal Aspects of the Second Main Pillar of the European Banking Union (Fifth- Extended and Fully Updated - Edition)","authors":"C. Gortsos","doi":"10.2139/SSRN.2668653","DOIUrl":"https://doi.org/10.2139/SSRN.2668653","url":null,"abstract":"The second edition of the present study, only eight months after the first edition appeared, was deemed necessary given the entry into full operation of the Single Resolution Mechanism and the Single Resolution Fund on 1 January 2016. The study has been amended accordingly to reflect this development and take into consideration all the newly adopted legal acts and the secondary sources published after the cut-off date of the first edition, i.e. August 2015. This study aims to provide a systematic and comprehensive review of the provisions of the legal acts which are the sources of the EU Single Resolution Mechanism (‘SRM’) and the EU Single Resolution Fund (‘SRF’) that constitute the second main pillar of the European Banking Union (‘EBU’). It is structured in six (6) Sections: (1) Section A reviews the main provisions of the SRM Regulation (‘SRMR’) (under 2) and of the SRF Agreement (under 3), within the framework of the legal acts which constitute the sources of the EBU (under 1). (2) Section B provides a general overview of this new institutional framework, focusing on the various aspects of the Single Resolution Board (‘SRB’): its legal status, seat and composition, its administrative and management structure, the Appeal Panel, the independence and accountability regime, aspects of liability, and all other relevant provisions (under 1-7, respectively). (3) Section C deals with the provisions of the SRMR on resolution planning (under 1), with particular emphasis on those pertaining to the minimum requirement for own funds and eligible liabilities (MREL) (under 2) and to early intervention (under 3). (4) The resolution regime under the SRM Regulation is presented in Section D. This Section examines: the objectives and principles of resolution, the resolution procedure, the provisions on write-down and conversion of relevant capital instruments, the framework governing the resolution tools, the cooperation arrangements, as well as the investigatory powers of the Board and its power to impose penalties (under 1-6, resp.). (5) Section E deals with the SRF, and in particular with: its constitution, administration, investments, and use under the SRM Regulation (under 1), and the specific provisions of the SRF Agreement (under 2). (6) Finally, Section F contains the concluding remarks of the study.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122772217","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cultural Diversity in the Internet Age: In Search of New Tools That Work","authors":"Mira Burri","doi":"10.7892/BORIS.89579","DOIUrl":"https://doi.org/10.7892/BORIS.89579","url":null,"abstract":"The article considers the key media policy objective of enhancing cultural diversity and explores one of the possible paths towards it in the digital media space – namely, by addressing the new intermediaries that have an increasingly critical role in contemporary media experiences. It sketches some particular problems that policy-makers need to take into account, such as tailored content consumption, as well as some ways to solve them, such as through content curation in the public interest.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129064901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Euro Area, its Regulation and Impact on Non-Euro Member States","authors":"P. Craig, Menelaos Markakis","doi":"10.4337/9781783478101.00021","DOIUrl":"https://doi.org/10.4337/9781783478101.00021","url":null,"abstract":"There is a very considerable literature on the internal market. It is sophisticated and diverse, and, as might be expected, there are a plethora of views on most central issues. This chapter explores an issue that is in relative terms under-theorized, viz the regulation of the euro area and its impact on non-euro Member States. The discussion begins with the regulatory foundations of the euro area. This is important since the powers of the key players, the Eurogroup, the Euro Summit and the European Central Bank, are not widely known. The focus then shifts to consideration of legitimacy and democracy. While there has been considerable discussion of such matters in relation to the ECB, there is much less discourse concerning the Eurogroup and the Euro Summit. The analysis thereafter examines fears that regulation of the euro area can have an impact on internal market issues more generally, and that this can be prejudicial to non-euro Member States. This concern is explored, and the measures that might be adopted to counter it are evaluated. The analysis includes discussion of the relevant aspects of the agreement reached between the UK and the other Heads of Government concerning the UK's renegotiation of the terms of its membership of the EU (the Brexit debate). It should not, moreover, be forgotten that regulation of the euro area can be of very great importance for the states that do subscribe to the euro, and that such regulation can also have effect on more general internal market issues for such states. This issue is considered in the final section of the chapter.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115550157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Access to Medicines and European Market Integration","authors":"F. Pammolli, Armando Rungi","doi":"10.2139/ssrn.2717501","DOIUrl":"https://doi.org/10.2139/ssrn.2717501","url":null,"abstract":"In this paper we document a process of price convergence in the European market for pharmaceuticals and relate it to access to innovative medicines in individual countries. The EU is a peculiar case study, where free circulation of goods exists, but pricing policies are designed and implemented by Member States. Thanks to a unique census database on product sales and launches for Â…fifteen EU countries, we detect a process of price convergence, both in nominal and in real terms. Therefore, we Â…nd that a faster rate of price convergence and a lower income per capita are associated with stronger delays in launches of new medicines. Moreover, country delays tend to be higher for innovative and Â…first in class chemical compounds. Our results suggest that inefficiencies arise from drugs regulation, when countries widely differ in income per capita, public Â…finance sustainability conditions, and regulatory frameworks. Policies of external reference pricing tend to exacerbate welfare losses. A policy of differential pricing is suggested, in order to take into account both therapeutic value and willingness to pay.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"113 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130107233","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Indirect Effects on Domestic Law of the European Legislation on Payment Systems","authors":"Noah Vardi","doi":"10.54648/erpl2015057","DOIUrl":"https://doi.org/10.54648/erpl2015057","url":null,"abstract":"Abstract: The article examines the impact that recent European Union (EU) legislation on payment systems has on domestic rules on payments in general. Given that the Payment Services Directive (PSD), for example, only regulates the payment service contract for the transfer of funds, without considering the underlying debt, the paper tries to assess whether, in the absence of a direct harmonization of national provisions on performance, discharge, and breach of a payment obligation, there is room for an indirect and gradual convergence in commercial practice and in judicial interpretation. Résumé: L’article examine l’impact de la récente législation européenne relative aux systèmes de paiement sur les législations des Etats membres en matière de paiements en général. Dans la mesure où la Directive sur les Services de Paiement, par exemple, règle seulement le contrat de service de paiement pour le transfert de fonds sans considérer l’obligation sous-jacente, l’article vise à évaluer si en l’absence d’une harmonisation directe des règles nationales sur l’exécution, la libération et l’inexécution d’une obligation de paiement, il y a place pour une convergence indirecte et graduelle de la pratique commerciale et de l’interprétation judiciaire.  ","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125609315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"'Back to the Future?' EU Merger Control 30 Years after the Commission's White Paper on the Completion of the Single Market: Case Study of the Automobile Industry","authors":"Conor C. Talbot","doi":"10.2139/ssrn.2715015","DOIUrl":"https://doi.org/10.2139/ssrn.2715015","url":null,"abstract":"This article charts the period between 1985 and 2015 and looks at the impact that the European Union Merger Regulation has had during that time on the ways in which modern businesses can collaborate to innovate. Particular attention is paid to the car manufacturing industry. The car manufacturing industry affects millions of people around the world and the strategic business decisions of automakers can have deep political and economic consequences. This makes it prone to political intervention on both sides of the Atlantic, which can prove to be a burden by preventing rational actions and hindering the implementation of a group’s planned industrial strategy. The case study describes recent developments in the car industry from the perspective of the theories of harm which lawyers and economists have identified as being worthy of the attention of competition regulators.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117168387","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financial Supervision, Financial Crisis and Life Insurance Companies: International Evidence in OECD Countries","authors":"Bum Kim, W. Kwon","doi":"10.2139/ssrn.2693410","DOIUrl":"https://doi.org/10.2139/ssrn.2693410","url":null,"abstract":"This paper is to examine life insurance companies in the OECD countries to identify the major firm-specific determinants of the profitability and test the impact of regulatory system in those countries. We consider two important agency structures of insurance industry supervision and regulations, prudential supervision and business conduct regulation. The agency structure of prudential supervision is significant in OECD countries, but not in Germany and the US. We found that FSA-type excluding Germany and the US may help insurers increase their profitability compared to the companies with Sectoral-type agency structure. Meanwhile, the agency structure of business conduct is also significant in OECD countries on average. It is because the issue of business conduct becomes a socially important issue in Germany and the US so that having FSA may lessen the insurer profitability, especially in Germany.","PeriodicalId":382921,"journal":{"name":"ERN: Regulation (European) (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128913320","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}