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At the time of writing this note, the health crisis caused by the COVID-19 pandemic has severely affected a number of EU Member States. In addition to the severe impact…
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The decline in European public equity markets has sparked concern from policymakers about how to revive listings. Behind this overall declining trend, there is a notable variation between financial centres.…

A study of the effectiveness of travel restrictions in Japan

There have been extensive travel restrictions in place across the Asia-Pacific region over the last two years, ranging from mandatory quarantines in designated facilities to pre-departure testing and on-arrival testing. In Japan, travel restrictions were introduced at the start of the pandemic in March 2020. They began with 14-day quarantine… Read More

Image depicting A study of the effectiveness of travel restrictions in Japan

A robust approach to determining the dynamic efficiency parameter for Dutch gas and electricity TSOs

Last year, ACM commissioned Oxera to conduct a study on dynamic efficiency for Dutch transmission system operators (TSOs). The objective of the study was to advise on the scope of productivity improvement that an efficient TSO could achieve over a regulatory period due to technological improvement (also referred to as ‘frontier shift’) or cheaper inputs. In particular, the aim of the analysis was to produce productivity growth estimates using Total Factor Productivity (TFP) and Output Price Index (OPI) measures, to be applied over the regulatory period starting in 2017 for TenneT (the electricity transmission operator) and Gasunie Transport Services (GTS) (the gas transmission operator). Read More

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