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Prominent trade and industry publications often capture NERA's intellectual leadership across a broad range of topics. Presented below are links to our latest thinking. To view all publicly available NERA publications, visit our website's eLibrary.
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Coping with the Economic Downturn: Comparing Arm's Length Benchmarks During a Volume Recession

1 March 2010


By Dr. Seen Meng Chew and Dr. Harlow Higinbotham

In this paper, NERA Consultant Dr. Seen Meng Chew and Senior Vice President Dr. Harlow Higinbotham analyze the major problems imposed by the economic downturn on traditional transfer pricing analyses and illustrate some practical solutions.

Fussing and Fuming about Fair Value and Financial Institutions: Fact or Fiction?

1 March 2010


By Dr. Thomas Porter
Published in Informer

In this article, NERA Vice President Dr. Thomas Porter argues that SFAS 157 cannot be blamed for causing the recent credit crisis, mainly because it did not require any new fair-value measurements

Entry as a Source of Post-Merger Price Discipline

1 March 2010


Dr. Elizabeth M. Bailey

In this issue of Antitrust Insights, NERA Vice President Dr. Elizabeth M. Bailey describes a practical, empirical approach to the analysis of entry.

Merger Screens: Market Share-Based Approaches Versus 'Upward Pricing Pressure'

28 February 2010


By Dr. Elizabeth M. Bailey, Dr. Gregory K. Leonard, Dr. G. Steven Olley, and Dr. Lawrence Wu
Published in Antitrust Source

This article examines whether UPP would provide a useful merger screening device that the DOJ and FTC could use during the initial waiting period to decide whether a Second Request should be issued.

The Cost of Capital for Merchant Power Generation: The Example of Drax

25 February 2010


Tomas Haug and Dr. Richard Hern

In this issue of EMI, the authors review recent evidence on the cost of capital for Drax -- a large coal-fired power station located in the north of England -- focusing their review on beta risk.

Climate Change Risks and Opportunities: How Companies Can Develop Information to Comply with SEC Guidance Regarding Climate Change Disclosure

17 February 2010


By Dr. David Harrison and Andrew Foss

This paper outlines how the NERA Carbon Financial Impacts Model can be used to assist companies in evaluating the financial effects of climate change policies.

SEC Settlements Trends: 1Q10 Update

16 February 2010


By Jan Larsen, Dr. Elaine Buckberg, and Dr. Baruch Lev

The SEC settled with 205 defendants in its first quarter of fiscal year 2010, compared to 181 in the previous quarter and 123 in the first fiscal quarter of 2009, according to NERA's new SEC Settlements Trends report.

Market Power, Monopoly, and Mergers: Competitive Assessments Beyond Market Shares

3 February 2010


By Dr. Fabien Curto Millet
Published in Revue Concurrences

In this article, NERA Senior Consultant Dr. Fabien Curto Millet reviews a number of limitations of market shares encountered in specific cases.

Market Definition Analysis in German Competition Policy (SSNIP-Test oder Bedarfsmarktkonzept? Marktabgrenzung in der deutschen Kartellrechtspraxis)

1 February 2010


By Thilo Klein
Published in Wirtschaft und Wettbewerb

In this article, published in the February 2010 issue of antitrust journal Wirtschaft und Wettbewerb, NERA Senior Consultant Thilo Klein reviews the role of the SSNIP test in German competition policy from an economic perspective.

NRG Power Marketing: An Economist's Assessment

1 February 2010


By Jonathan Falk
Published in Law 360

NERA Vice President Jonathan Falk suggests that the recent decision in NRG Power Marketing, et al. v. Maine Public Utility Commissioners, et al. is an instrumental piece of a long process that might finally unleash the powers of competition in electricity markets.

Design of the Renewable Heat Incentive

1 February 2010


By Daniel Radov and Per Klevnäs

The objective of this report for the Department of Energy & Climate Change is to assist with the design of the UK's Renewable Heat Incentive.

Transfer Pricing in France in 2009

31 January 2010


By Sébastien Gonnet with Julien Monsenego of Dechert LLP
Published in Tax Planning International Transfer Pricing

In this article from Tax Planning International Transfer Pricing, the authors review the major transfer pricing developments that transpired in France in 2009.

Area Cost Adjustment: A Response to the Department for Communities and Local Government's (DCLG) Recent Consultations

31 January 2010


By Dr. Richard Hern with Professor David Blanchflower of the Dartmouth College Department of Economics

A team led by NERA Director Dr. Richard Hern and former UK Monetary Policy Committee member Professor David Blanchflower was commissioned to review the recent consultation documents produced by the DCLG on the methodology used to calculate Labor Cost Adjustment factors.

Trends in Canadian Securities Class Actions: 2009 Update

27 January 2010


By Mark Berenblut and Bradley Heys

Securities class action filings in Canada for 2009 remained above historical average filings, according to this newly released edition of NERA's study, Trends in Canadian Securities Class Actions.

NERA Expert Serves on Committee to Develop Patent Damages Handbook for Federal District Court Judges

20 January 2010


Published in the website of the National Patent Jury Instruction Committee

NERA Senior Vice President Dr. Alan Cox participated in the development of a handbook for trial courts to consult on procedural practices that may be helpful in the management and adjudication of damages issues in patent cases.

Why 'Too Big to Fail' is Too Short-Sighted to Succeed: Problems with Reliance on Firm Size for Systemic Risk Determination

18 January 2010


By Christopher Laursen, Dr. Sharon Brown-Hruska, and Dr. Robert Mackay with Dr. John Bovenzi of Oliver Wyman Group

This report discusses why relying on size as the primary determinant of financial institution systemic risk is inappropriate, and describes negative economic consequences likely to result if a sized-based process is used in financial reform legislation.

Guidelines for Conducting a Disparity and Availability Study for the Federal DBE Program

14 January 2010


By Dr. Jon Wainwright with Colette Holt of Colette Holt & Associates

This report presents guidelines for state departments of transportation on how to conduct effective and legally defensible disparity and availability studies to meet the requirements of the Disadvantaged Business Enterprise program for federally funded projects.

Testing for Materiality in Volatile Markets

14 January 2010


By Dr. Branko Jovanovic and Edward Fox

This paper demonstrates that the increase in overall market volatility in the wake of the 2008 credit crisis can cause traditional event study methodology to be inaccurate.

Minimum Resale Price Maintenance: Some Empirical Evidence from Maryland

14 January 2010


By Dr. Elizabeth M. Bailey and Dr. Gregory K. Leonard

Maryland enacted a statute in response to Leegin that characterizes a manufacturer's setting of a minimum price below which a retailer cannot sell as "an unreasonable restraint of trade." This paper considers the effect of the statute on retail video game prices in that state.

Comments to the Proposed Revision of Chapters I-III of the OECD Transfer Pricing Guidelines

8 January 2010


The OECD Committee on Fiscal Affairs released for public comment a proposed revision of its Transfer Pricing Guidelines. A group of experts from NERA's Global Transfer Pricing Practice have submitted comments.

Wholesale Unbundling and Intermodal Competition

7 January 2010


By Dr. Harold Ware and Christian Dippon

NERA Vice President Christian Dippon and Special Consultant Dr. Harold Ware explore the effects of network unbundling in telecommunications.

How Private Antitrust Litigation May Proceed In China

5 January 2010


By Dr. Gregory K. Leonard, Dr. Fei Deng, and Wenfeng Tang
Published in Competition Law360

This guest column from Competition Law360 examines a recent ruling in favor of Baidu Inc. -- a popular Chinese Internet search engine company -- in one of the first abuse-of-dominance private actions filed in China.

Revising the Merger Guidelines: Second Request Screens and the Agencies’ Empirical Approach to Competitive Effects

18 December 2009


By Dr. Gregory K. Leonard and Dr. Lawrence Wu
Published in GCP: The Antitrust Chronicle

In this article from GCP: The Antitrust Chronicle, Senior Vice Presidents Dr. Gregory K. Leonard and Dr. Lawrence Wu offer suggestions for how the Horizontal Merger Guidelines could be revised.

Recent Trends in Securities Class Action Litigation: 2009 Year End Update

15 December 2009


By Dr. Stephanie Plancich and Svetlana Starykh

This latest edition of NERA's semi-annual study shows that securities class action filings are expected to reach 235 cases in 2009, down from 253 filings in 2008.

 
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