Antitrust Bulletin articles from June 1999

Antitrust Bulletin archives from June 1999

The bank merger movement: efficiency, stability and competitive policy concerns.
June 22, 1999... I. Introduction The bank mergers of the last decade in the United States and globally, in particular, large bank mergers, have already produced radical change in banking structure, and more is in prospect. Few mergers are denied on...

The local and statewide marketshare advantages of interstate banking firms.
June 22, 1999... Does the share of total deposits, loans, etc., in a given market area of a bank acquired by an interstate banking firm rise or fall over time in the years following its acquisition? Do multistate banking companies reap cost savings from scale...

Is the cluster still valid in defining banking markets? Evidence from a new data source.
June 22, 1999... I. Introduction The Supreme Court's 1963 decision in Philadelphia National Bank established several important legal precedents in banking antitrust. In addition to confirming the applicability of the antitrust laws to banking mergers, the...

What do interest rate data say about the geography of retail banking markets?
June 22, 1999... I. Introduction Geographic market definitions play a central role in banking antitrust analysis where they provide a starting point for determining whether proposed mergers may lead to substantial increases in market power. Seemingly small...

ATM network mergers and the creation of market power.
June 22, 1999... I. Introduction The past decade has seen a great deal of merger activity among automated teller machine (ATM) networks. Several of these mergers have been subject to antitrust review by the Department of Justice and the Federal Reserve...

Money market mutual funds: are they a close substitute for accounts at insured depository institutions?
June 22, 1999... I. Introduction Are accounts at federally insured depository institutions unique or do other financial products exist that are close substitutes? Until fairly recently, the answer to this question would likely have been that accounts at...

Modeling entry and barriers to entry: a test of alternative specifications.
June 22, 1999... I. Introduction Entry and the threat of entry are crucial both in shaping industry structure and determining long-run industry performance. Barriers to entry, which impede the market's normal corrective response to the appearance of...

Competition policy in the postconsolidation defense industry.
June 22, 1999... I. Introduction In July 1997, Lockheed Martin announced plans to acquire Northrop Grumman for $8.3 billion.(1) As proposed, the transaction seemed to complete an important phase of the post-Cold War consolidation of the defense industry in...

Airline price wars: competition or predation.
June 22, 1999... I. Introduction Following deregulation of the airline industry some 20 years ago, many changes have occurred. Competition has resulted in lower air fares, frequent flier programs, and increases in the extent and frequency of service. We...

The future of looking back: the efficient modeling of subsequent review.
June 22, 1999... I. Introduction The analysis of mergers under section 7 of the Clayton Act(1) involves the interaction of substantive and procedural rules.(2) Substantively, the analysis is concerned with determining whether the effect of a merger may be...