IDEAS home Printed from https://ideas.repec.org/a/bla/jcmkts/v41y2003i3p541-566.html

Democratic Deficits in Comparison: Best (and Worst) Practices in European, US and Swiss Merger Regulation

Author

Listed:
  • Thomas D. Zweifel

Abstract

Policy‐makers and scholars continue to express concerns that the EU suffers from a ‘democratic deficit’. But most democratic deficit arguments are not based on recent empirical research; and seeing the EU as sui generis, they fail to compare the EU to other polities. This article compares the European ‘regulatory state’ with two federal democracies, the United States and Switzerland, in recent merger regulation. Its main finding is that European merger regulation is less democratic than American, but more democratic than Swiss regulation. If the EU suffers from a democratic deficit, it is hardly alone.

Suggested Citation

  • Thomas D. Zweifel, 2003. "Democratic Deficits in Comparison: Best (and Worst) Practices in European, US and Swiss Merger Regulation," Journal of Common Market Studies, Wiley Blackwell, vol. 41(3), pages 541-566, June.
  • Handle: RePEc:bla:jcmkts:v:41:y:2003:i:3:p:541-566
    DOI: 10.1111/1468-5965.00434
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1468-5965.00434
    Download Restriction: no

    File URL: https://libkey.io/10.1111/1468-5965.00434?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Persson, Torsten & Tabellini, Guido, 1993. "Designing institutions for monetary stability," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 53-84, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pier Domenico Tortola, 2014. "The Limits of Normalization: Taking Stock of the EU-US Comparative Literature," Journal of Common Market Studies, Wiley Blackwell, vol. 52(6), pages 1342-1357, November.
    2. Dzmitry Bartalevich, 2017. "EU competition policy and U.S. antitrust: a comparative analysis," European Journal of Law and Economics, Springer, vol. 44(1), pages 91-112, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alberto Alesina & Guido Tabellini, 2003. "Bureaucrats or Politicians?," Working Papers 238, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    2. L. Bini-Smaghi, 1998. "The democratic accountability of the European Central Bank," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 51(205), pages 119-143.
    3. Philippe Martin & Claude Jessua, 1996. "L'importance des exclus de l'intégration monétaire en Europe," Revue Économique, Programme National Persée, vol. 47(3), pages 807-817.
    4. Ewald, Christian-Oliver & Geißler, Johannes, 2017. "Optimal contracts for central bankers: Calls on inflation," Applied Mathematics and Computation, Elsevier, vol. 292(C), pages 57-62.
    5. Sanghoon Lee, 2010. "Dynamic Inconsistency in Counterterrorism," Conflict Management and Peace Science, Peace Science Society (International), vol. 27(4), pages 369-385, September.
    6. Daniel Laskar, 1997. ""Incohérence temporelle" de la politique monétaire optimale. Un argument en faveur des zones cibles," Revue Économique, Programme National Persée, vol. 48(1), pages 5-22.
    7. L. Lambertini & R. Rovelli, 2003. "Monetary and fiscal policy coordination and macroeconomic stabilization. A theoretical analysis," Working Papers 464, Dipartimento Scienze Economiche, Universita' di Bologna.
    8. Mr. Bernard J Laurens & Mr. Marco Arnone & Jean-François Segalotto, 2006. "The Measurement of Central Bank Autonomy: Survey of Models, Indicators, and Empirical Evidence," IMF Working Papers 2006/227, International Monetary Fund.
    9. Ricardo Nunes & Jinill Kim & Jesper Linde & Davide Debortoli, 2014. "Designing a Simple Loss Function for the Fed: Does the Dual Mandate Make Sense?," 2014 Meeting Papers 1043, Society for Economic Dynamics.
    10. Ahuja, Rishi & Barrett, Sean & Corbet, Shaen & Larkin, Charles, 2019. "A way forward: The future of Irish and European union financial regulation," Economic Analysis and Policy, Elsevier, vol. 64(C), pages 346-360.
    11. Donato Masciandaro & Davide Romelli, 2019. "Behavioral Monetary Policymaking: Economics, Political Economy and Psychology," World Scientific Book Chapters, in: Behavioral Finance The Coming of Age, chapter 9, pages 285-329, World Scientific Publishing Co. Pte. Ltd..
    12. Frederic S. Mishkin & Niklas J. Westelius, 2008. "Inflation Band Targeting and Optimal Inflation Contracts," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 557-582, June.
    13. Gersbach, Hans & Hahn, Volker & Liu, Yulin, 2019. "Forward Guidance Contracts," Macroeconomic Dynamics, Cambridge University Press, vol. 23(8), pages 3386-3423, December.
    14. Svensson, Lars E O, 1997. "Optimal Inflation Targets, "Conservative" Central Banks, and Linear Inflation Contracts," American Economic Review, American Economic Association, vol. 87(1), pages 98-114, March.
    15. Nessen, Marianne & Vestin, David, 2005. "Average Inflation Targeting," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(5), pages 837-863, October.
    16. Taisuke Nakata & Sebastian Schmidt & Paul Yoo, 2018. "Speed Limit Policy and Liquidity Traps," IMES Discussion Paper Series 18-E-06, Institute for Monetary and Economic Studies, Bank of Japan.
    17. King, Mervyn, 1997. "Changes in UK monetary policy: Rules and discretion in practice," Journal of Monetary Economics, Elsevier, vol. 39(1), pages 81-97, June.
    18. Johannes Groeneveld & Kees Koedijk & Clemens Kool, 1998. "Inflation Dynamics and Monetary Strategies: Evidence from Six Industrialized Countries," Open Economies Review, Springer, vol. 9(1), pages 21-38, January.
    19. Richard Mash, 2000. "The Time Inconsistency of Monetary Policy with Inflation Persistence," Economics Series Working Papers 15, University of Oxford, Department of Economics.
    20. Stefania Albanesi & V. V. Chari & Lawrence J. Christiano, 2003. "Expectation Traps and Monetary Policy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(4), pages 715-741.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jcmkts:v:41:y:2003:i:3:p:541-566. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0021-9886 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.