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Papers by Aldo Gracia González

Research paper thumbnail of Private Versus Public Antitrust Enforcement: Evidence from Chile

Journal of Competition Law and Economics, 2014

This article measures the impact of the agency responsible for enforcing competition law, in the ... more This article measures the impact of the agency responsible for enforcing competition law, in the outcome of antitrust trials in Chile. Using statistics on lawsuits since the inception of the new Competition Tribunal in 2004, we find that the involvement of the public agency increases the probability of obtaining a guilty verdict in an antitrust lawsuit by 40 percentage points. Conditional to the issuance of a verdict, the participation of the prosecutor raises the likelihood of a conviction by 38 percentage points. The results are robust to possible selection bias by the public agency. The prosecutor is inclined to takes part in cases involving sensitive markets and in accusations of collusion. The State-related character of the accused entity, in addition to its size, does not affect the probability of intervention by the prosecutor in a lawsuit.

Research paper thumbnail of Fundamentos de los programas de delación compensada para la presecución de los carteles

This article reviews the literature about Leniency Programs and how they affect the stability of ... more This article reviews the literature about Leniency Programs and how they affect the stability of hard core cartels. On the base of the main contributions, the article tries to build a unified model and extracts the relevant messages for the implementation of such programs.

Research paper thumbnail of En busca del saber pedagógico y epistémico fundante de la Educación Inclusiva: ideas para una modelo paradigmático en evolución

Research paper thumbnail of Dollarization, Foreign Ownership, and Competition in the Banking Industry in Latin America

Emerging Markets Finance and Trade, 2015

We estimate the correlation of foreign bank penetration and dollarization with competition in the... more We estimate the correlation of foreign bank penetration and dollarization with competition in the banking industry in sixteen Latin American countries during the period 1995-2008. We apply Boone's methodology to compute the intensity of competition. Our results suggest that in countries with an initial low level of competition, foreign ownership tends to foster rivalry among banks, whereas the opposite is true in countries with an initial high level of competition. The adoption of dollarization or a currency board, which reduces transaction costs and facilitates financial integration, has a positive correlation with competition. This is the case for Ecuador, El Salvador, and Argentina.

Research paper thumbnail of Antitrust Enforcement and the Design of Disclosure Rules. An Application to Merger Control

This article investigates how antitrust agencies should structure the disclosing of information a... more This article investigates how antitrust agencies should structure the disclosing of information about efficiency gains from interested parties (merging firms, and competitors) in merger control. We analyze the particular case of a horizontal merger with danger of foreclosure, where welfare can decrease either due to insufficient efficiency gains (efficiency defense) or due to excessive efficiency gains if the competitor exits

Research paper thumbnail of La Entrada de GOL en el Mercado Aéreo Chileno

Este artículo estudia el impacto del ingreso de la línea aérea GOL, ocurrida a fines de 2006, en ... more Este artículo estudia el impacto del ingreso de la línea aérea GOL, ocurrida a fines de 2006, en las rutas que conectan que conectan Santiago de Chile con cuatro principales ciudades de Sudamérica. GOL es una aerolínea brasileña, siendo la primera en ser denominada como de bajo costo en América del Sur. LAN es una compañía chilena, considerada como aerolínea

Research paper thumbnail of Optimal Pre-Merger Notification Mechanisms - Incentives And Efficiency Of Mandatory And Voluntary Schemes

Policy Research Working Papers, 2009

The Policy Research Working Paper Series disseminates the findings of work in progress to encoura... more The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

Research paper thumbnail of Endogenous residual claimancy by vertical hierarchies

Economics Letters, 2014

h i g h l i g h t s • We study a model of vertical hierarchies where the allocation of residual c... more h i g h l i g h t s • We study a model of vertical hierarchies where the allocation of residual claimancy is endogenous. • Residual claimancy is affected by production externalities across hierarchies. • Principals may prefer to retain a share of the surplus from production when dealing with inefficient types.

Research paper thumbnail of Four new species of Apiotrichum isolated from decayed wood in the evergreen rainy Valdivian forest of southern Chile

Mycopathologia, 1984

Four unusual Apiotrichum, isolated from decayed wood of Eucryphia cordifolia Cav., Nothofagus obl... more Four unusual Apiotrichum, isolated from decayed wood of Eucryphia cordifolia Cav., Nothofagus obliqua (Mirb.) Blume, and Laurelia sempervirens Wein., one of which was also isolated from the intestinal tract of Scaptomyza multispinosa M alloch (Diptera), are described and illustrated. These species differ from all the accepted Apiotrichum species (1-3) to warrant their establishment as four new species: Apiotrichum eucryphiae, Apiotrichum osvaldii, Apiotrichum futronensis and Apiotrichum nothofagi.

Research paper thumbnail of Private Versus Public Antitrust Enforcement: Evidence from Chile

Journal of Competition Law and Economics, 2014

This article measures the impact of the agency responsible for enforcing competition law, in the ... more This article measures the impact of the agency responsible for enforcing competition law, in the outcome of antitrust trials in Chile. Using statistics on lawsuits since the inception of the new Competition Tribunal in 2004, we find that the involvement of the public agency increases the probability of obtaining a guilty verdict in an antitrust lawsuit by 40 percentage points. Conditional to the issuance of a verdict, the participation of the prosecutor raises the likelihood of a conviction by 38 percentage points. The results are robust to possible selection bias by the public agency. The prosecutor is inclined to takes part in cases involving sensitive markets and in accusations of collusion. The State-related character of the accused entity, in addition to its size, does not affect the probability of intervention by the prosecutor in a lawsuit.

Research paper thumbnail of Fundamentos de los programas de delación compensada para la presecución de los carteles

This article reviews the literature about Leniency Programs and how they affect the stability of ... more This article reviews the literature about Leniency Programs and how they affect the stability of hard core cartels. On the base of the main contributions, the article tries to build a unified model and extracts the relevant messages for the implementation of such programs.

Research paper thumbnail of En busca del saber pedagógico y epistémico fundante de la Educación Inclusiva: ideas para una modelo paradigmático en evolución

Research paper thumbnail of Dollarization, Foreign Ownership, and Competition in the Banking Industry in Latin America

Emerging Markets Finance and Trade, 2015

We estimate the correlation of foreign bank penetration and dollarization with competition in the... more We estimate the correlation of foreign bank penetration and dollarization with competition in the banking industry in sixteen Latin American countries during the period 1995-2008. We apply Boone's methodology to compute the intensity of competition. Our results suggest that in countries with an initial low level of competition, foreign ownership tends to foster rivalry among banks, whereas the opposite is true in countries with an initial high level of competition. The adoption of dollarization or a currency board, which reduces transaction costs and facilitates financial integration, has a positive correlation with competition. This is the case for Ecuador, El Salvador, and Argentina.

Research paper thumbnail of Antitrust Enforcement and the Design of Disclosure Rules. An Application to Merger Control

This article investigates how antitrust agencies should structure the disclosing of information a... more This article investigates how antitrust agencies should structure the disclosing of information about efficiency gains from interested parties (merging firms, and competitors) in merger control. We analyze the particular case of a horizontal merger with danger of foreclosure, where welfare can decrease either due to insufficient efficiency gains (efficiency defense) or due to excessive efficiency gains if the competitor exits

Research paper thumbnail of La Entrada de GOL en el Mercado Aéreo Chileno

Este artículo estudia el impacto del ingreso de la línea aérea GOL, ocurrida a fines de 2006, en ... more Este artículo estudia el impacto del ingreso de la línea aérea GOL, ocurrida a fines de 2006, en las rutas que conectan que conectan Santiago de Chile con cuatro principales ciudades de Sudamérica. GOL es una aerolínea brasileña, siendo la primera en ser denominada como de bajo costo en América del Sur. LAN es una compañía chilena, considerada como aerolínea

Research paper thumbnail of Optimal Pre-Merger Notification Mechanisms - Incentives And Efficiency Of Mandatory And Voluntary Schemes

Policy Research Working Papers, 2009

The Policy Research Working Paper Series disseminates the findings of work in progress to encoura... more The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

Research paper thumbnail of Endogenous residual claimancy by vertical hierarchies

Economics Letters, 2014

h i g h l i g h t s • We study a model of vertical hierarchies where the allocation of residual c... more h i g h l i g h t s • We study a model of vertical hierarchies where the allocation of residual claimancy is endogenous. • Residual claimancy is affected by production externalities across hierarchies. • Principals may prefer to retain a share of the surplus from production when dealing with inefficient types.

Research paper thumbnail of Four new species of Apiotrichum isolated from decayed wood in the evergreen rainy Valdivian forest of southern Chile

Mycopathologia, 1984

Four unusual Apiotrichum, isolated from decayed wood of Eucryphia cordifolia Cav., Nothofagus obl... more Four unusual Apiotrichum, isolated from decayed wood of Eucryphia cordifolia Cav., Nothofagus obliqua (Mirb.) Blume, and Laurelia sempervirens Wein., one of which was also isolated from the intestinal tract of Scaptomyza multispinosa M alloch (Diptera), are described and illustrated. These species differ from all the accepted Apiotrichum species (1-3) to warrant their establishment as four new species: Apiotrichum eucryphiae, Apiotrichum osvaldii, Apiotrichum futronensis and Apiotrichum nothofagi.