Pierre Dubois, professor of economics at TSE, is an expert in industrial organization applied to health and pharmaceutical economics. He gives us an insight here on recent and upcoming developments in this fast-moving field particularly subject to market shifts, government intervention, asymmetric information, uncertainty and barriers to entry.

Traditionally, the distribution charge paid by consumers of electricity connected to a grid is based on the capacity for which they subscribe and the number of kWh withdrawn during a given period.

The Global Crisis has intensified debates over the merits of financial innovation and the optimal size of the financial sector. This column presents a model in which the growth of finance is driven by the development of a financial innovation. The model can help explain the securitised mortgage debacle that triggered the latest crisis, the tech bubble in the late 1990s, and junk bonds in the 1980s. A striking implication of the model is that regulation should be toughest when finance seems most robust and when innovations are waxing strongly.

In April 2008, the Paraguayan Associación Nacional Republicana (ANR), locally known as the Colorado Party, was defeated in the presidential election by a coalition of opposition parties and social organizations led by a former Catholic bishop, Fernando Lugo.

Pages