An Empirical Assessment of the 2004 EU Merger Policy Reform

24 Pages Posted: 27 Nov 2013

See all articles by Tomaso Duso

Tomaso Duso

German Institute for Economic Research (DIW Berlin); TU Berlin- Faculty of Economics and Management - Empirical Industrial Organization

Klaus Peter Gugler

Vienna University of Economics and Business; European Corporate Governance Institute (ECGI)

Florian Szücs

Vienna University of Economics and Business

Multiple version iconThere are 2 versions of this paper

Date Written: November 2013

Abstract

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.

Suggested Citation

Duso, Tomaso and Gugler, Klaus Peter and Szücs, Florian, An Empirical Assessment of the 2004 EU Merger Policy Reform (November 2013). The Economic Journal, Vol. 123, Issue 572, pp. F596-F619, 2013. Available at SSRN: https://ssrn.com/abstract=2360357 or http://dx.doi.org/10.1111/ecoj.12081

Tomaso Duso (Contact Author)

German Institute for Economic Research (DIW Berlin) ( email )

Mohrenstraße 58
Berlin, 10117
Germany

TU Berlin- Faculty of Economics and Management - Empirical Industrial Organization ( email )

Berlin, 10585
Germany

Klaus Peter Gugler

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

HOME PAGE: http://www.wu.ac.at/iqv/mitarbeiter/gugler

European Corporate Governance Institute (ECGI)

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Florian Szücs

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

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