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Luxembourg Rail Protocol to save United Kingdom between £4.8 and £5.2bn

Oxera has updated its 2018 study for the Rail Working Group that assessed the direct microeconomic benefits from the Luxembourg Rail Protocol. The Luxembourg Rail Protocol is a new global treaty that will make it much easier and cheaper to finance railway rolling stock. The 2018 study focused on a group of 20 European countries,

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What’s new in the 2020 update to the Green Book?

Executive summary Her Majesty’s Treasury (HMT) has reviewed the Green Book,1 which was last updated in 2018, to assess whether any changes need to be made. This note provides a high-level summary of HMT’s findings from this review, as well as any changes that it caused. The most interesting and material changes are the higher

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The impact of the Digital Markets Act on innovation

The European Commission is planning a Digital Markets Act (DMA). Our research, commissioned by Amazon, has found that the Commission’s proposals—so far as they can be discerned from the consultation process—risk reducing innovation overall. In turn, this will lead to lower economic growth and harm European consumers. The proposed DMA includes an ex ante regulation

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Sharing of data in public transport

The world is seeing an exponential growth in consumer and industry data, triggered by rapid developments in digitalisation such as an increase in the use of Internet-of-Things and data-generating devices including smartphones and connected wearables. There is a growing desire amongst all sectors, including public transport, to understand the value and opportunities that this explosion

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The impact of including AV in the EU Geoblocking Regulation

There is no one-size-fits-all approach to financing audio-visual (AV) content. Including AV within the scope of the EU’s 2018 Geoblocking Regulation—even with a requisite rights limitation—would erode the contractual freedoms that traders rely on to fund new content creation and distribution. In 2016, Oxera published a report jointly with Oliver & Ohlbaum Associates that modelled the

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Primary and secondary equity markets in the EU

The European Commission commissioned Oxera to study the functioning of primary and secondary equity markets in the EU. The main objectives of this study are to contribute to the evidence base needed to further advance the Capital Markets Union (CMU), with policies that provide a better environment for listing of companies of different sizes by addressing potential economic and technical barriers related to the EU primary and secondary equity markets. Moreover, the study assesses the prospects for market development and considers the future architecture of EU equity markets.

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Modelling the effectiveness of airport testing regimes

Since June 2020, the UK has required all international travellers to the UK, except those arriving from a list of exempt (‘travel corridor’) countries, to quarantine for 14 days. Unlike several other countries, the UK has not introduced any scheme to test travellers for COVID-19. We understand that part of the basis for this policy

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Review of case studies of effectiveness of testing schemes

This paper follows our report on the review of the effectiveness of testing on arrival schemes, which considered the Public Health England (PHE), London School of Hygiene & Tropical Medicine (LSHTM), and Animal and Plant Health Agency (APHA) papers. Following this paper, we will be updating the modelling completed to date with more recent data that can be aligned with the real-world evidence discussed in this note. The outputs of our analysis are intended to feed into the work of the recently established Global Travel Taskforce as it considers how a testing regime for international arrivals could be implemented to boost safe travel to and from the UK.

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The value of cyber insurance to the UK economy

The Association of British Insurers (‘ABI’) has commissioned Oxera to assess the impact of cyber insurance on the UK economy. This report considers the benefits and importance of cyber insurance policies for UK businesses and the UK economy more broadly, providing new insights from UK cyber risk insurers and insurance brokers. We live in a

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The impact of the Digital Services Act on business users

From finding work to booking holidays, reading the news to running a business, the services people need can be found online—often via a platform intermediary. For example, e-commerce plays an increasingly important role, with an average of 60% of individuals across the EU having bought goods or services online in 2019. Importantly, the interconnectedness of platforms with the wider economy means that their incentives are closely aligned: platform startups grow by creating a vibrant online ecosystem for their business users.

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