Competition policy in healthcare is an area of increasing interest to competition authorities, regulators and policy-makers. ‘Under examination: the OFT’s study into the private healthcare market’ summarises the provisional conclusions of the UK regulator’s recent market study, and assesses the range of specialised techniques available for market definition in this sector.
As the eurozone continues to charter new waters, ‘Weathering the storm’ looks at the economics of asset accumulation by pension funds, and explores the impact of switching from equity to bonds for long-term investment.
This month we feature guest articles from both sides of the regulatory fence. Alexander Italianer, Director-General at the European Commission Directorate-General for Competition, discusses the possibilities and limitations of incorporating economic analysis in competition law decisions, and Richard Feasey, Public Policy Director at Vodafone, provides a business perspective on regulatory oversight in telecoms. He argues that, while the economic environment facing the industry has changed considerably since the financial crisis began, regulators have been slow to adjust.
Dr Gunnar Niels
Director
Under examination: the OFT’s study into the private healthcare market
Following a study into privately funded healthcare services in the UK, in December 2011 the Office of Fair Trading provisionally referred the market to the Competition Commission for a full market inquiry. A wide range of techniques are available for defining markets in the private healthcare sector, but which of them should be applied in future competition analysis in the UK?
Weathering the storm: should pension funds switch to low-risk assets?
Pension funds that have suffered from losses in equity markets amid the ongoing financial crisis may be tempted to move to investments in lower-risk assets such as corporate or sovereign bonds. What does economics have to say about asset accumulation by pension funds, and about whether switching from equity to bonds is a wise move for a long-term investor?
Quantity and quality in economic assessments under competition law
How can competition authorities make the most of the available information within a given timeframe? Alexander Italianer, Director-General at the European Commission Directorate-General for Competition, discusses the possibilities and limitations of incorporating economic analysis in competition law decisions. He describes how economics was used in three recent merger cases, and looks at some of the issues that the parties involved in such cases should bear in mind.
Nice to nasty: the changing outlook for European telecoms regulation
The economic environment for the European telecommunications industry has changed considerably since the financial crisis hit, but its regulators appear to be living in the Golden Age of robust industry growth and falling prices for consumers. Richard Feasey, Public Policy Director at Vodafone, asks where European regulation needs to change and suggests options for a new approach to telecommunications regulation that is more suited to the current and future challenges.
