Market Share and Market Power
If a small number of firms have a large combined market share in a properly defined market, it is strong evidence that those firms have substantial market power.
Ride-Sharing Caps
Question A:
Question B:
Capping the number of ride-sharing drivers as is being discussed in New York City, Chicago and London will make the average resident in that city worse off.
Responses
To achieve a given level of congestion, it would be better to use taxes for driving that vary based on the level of congestion, rather than limiting the number of ride-sharing vehicles.
Responses
Autonomous Cars
This week’s IGM European Economic Experts Panel statement:
Over the next decade, autonomous cars will raise average welfare in the EU by at least as much as smartphones have over the past decade.
Over the next decade, autonomous cars will raise average welfare in the EU by at least as much as smartphones have over the past decade.
Trade Disruptions
This week’s IGM Economic Experts Panel statement:
Because global supply chains are more important now, import tariffs are likely substantially more costly than they would have been 25 years ago.
Because global supply chains are more important now, import tariffs are likely substantially more costly than they would have been 25 years ago.
Central Banks and Productivity
This week's IGM European Economic Experts Panel Statement:
Britain’s Labour party recently proposed giving the Bank of England a target of 3% annual labor productivity growth. Consider the following statement:
Central banks cannot significantly increase productivity growth over a ten year horizon, except perhaps by promoting macroeconomic stability.
Britain’s Labour party recently proposed giving the Bank of England a target of 3% annual labor productivity growth. Consider the following statement:
Central banks cannot significantly increase productivity growth over a ten year horizon, except perhaps by promoting macroeconomic stability.
Central Banks and Productivity
This week's IGM Economic Experts Panel statement:
Britain’s Labour party recently proposed giving the Bank of England a target of 3% annual labor productivity growth. Consider the following statement:
Central banks cannot significantly increase productivity growth over a ten year horizon, except perhaps by promoting macroeconomic stability.
Britain’s Labour party recently proposed giving the Bank of England a target of 3% annual labor productivity growth. Consider the following statement:
Central banks cannot significantly increase productivity growth over a ten year horizon, except perhaps by promoting macroeconomic stability.
Antitrust and International Competition
This week's IGM Economic Experts Panel statement:
The European Union often uses its antitrust powers to protect EU-based firms from international competition, rather than to promote greater competition in European markets.
The European Union often uses its antitrust powers to protect EU-based firms from international competition, rather than to promote greater competition in European markets.
Digital Sales Tax
This week’s IGM European Economic Experts Panel statements:The European Commission has proposed new rules to ensure that “digital business activities are taxed in a fair and growth-friendly way in the EU”. Consider two statements regarding this proposal: An EU-wide 3% tax on revenue from digital activities would, on balance, be a good idea.
If the EU decides to tax digital service providers, it would be better — given the difficulties of measuring and verifying digital activity — to tax them on the revenue, rather than the profits, that they generate locally.
If the EU decides to tax digital service providers, it would be better — given the difficulties of measuring and verifying digital activity — to tax them on the revenue, rather than the profits, that they generate locally.
Sports Betting
This week's IGM Economic Experts Panel Statement:
All things considered, US society will be better off if sports betting becomes legal in more US states (beyond Nevada).
All things considered, US society will be better off if sports betting becomes legal in more US states (beyond Nevada).
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