Competition and Regulation Times. July 2012. Issue 38.

Title: Divvying up the 'Digital Dividend' Abstract: The arrival of digital free-to-air television has had pleasant consequences for owners of newer television sets: they can now enjoy high-definition pictures, with higher-quality sound than was previously available through analogue transmission. But the benefits don't stop there. The bandwidth used by the new digital channels is considerably smaller than that required by their older counterparts; the spectrum required to broadcast one analogue channel can support six in digital format. So the impending switch-off of the analogue system will leave a lot of frequencies in need of a good home. Toby Daglish, Phuong Ho and Yigit Saglam delve into the details of the auction processes most likely to be used by the government to re-allocate these frequencies. Author: Yigit Saglam, Phuong Ho, Toby DaglishTitle: e-tail therapy FLASHBACK Abstract: Way back in 2000, before the dotcom crash (the one where the inflated share prices of internet stocks came tumbling down, not when international law enforcement tripped up the Megaupload millionaire) the hottest new thing was 'online-shopping'. While others were still marvelling, Bronwyn Howell critiqued this retail phenomenon with the aid of an economics-tinged cyber-crystal ball. She now revisits her analysis. Author: Bronwyn HowellTitle: 'Leftist' governments are bad for business Abstract: Although governments of the 'left' are typically viewed by economists and the general public as being less business-friendly, formal evidence linking the political orientation of parties in power to their country's economic performance is decidedly mixed. A prizewinning paper from Sasha Molchanov and his co-authors Art Durnev and Jon Garfinkel clarifies the seeming disconnect between party-in-power orientation and corporate performance. http://www.iscr.org.nz/n752.html Link to ISCR Seminar 6 June presentation by Dr Alexander (Sasha) Molchanov Author: Alexander (Sasha) Molchanov, Art Durnev and Jon GarfinkelTitle: Why regulate banks? Abstract: Banks hold an important position in modern economies as their products play a vital role in the everyday activities of households and firms. An efficient banking sector reduces the costs of trading goods and services: both across time (by providing deposit, investment and lending products) and at any point in time (by providing payment services). In this first of two articles, Alfred Duncan explores the benefits and costs of bank regulation. Author: Alfred DuncanTitle: A charitable interpretation Abstract: A significant by-product of the past thirty years of economic liberalisation and privatisation has been the increasing share of economic activity undertaken by the 'third sector' - charities and other non-profit organisations. In New Zealand, this is particularly evident in the health, education and social services sectors where many existing (Plunket, IHC, City Missions) and new (primary health organisations, iwi-based enterprises) charities have assumed responsibility for delivering services previously provided by local and central government. But is this sector adequately regulated? Carolyn Cordery takes a close look at the performance of New Zealand's light-handed regulatory regime for charities. Author: Carolyn CorderyTitle: Broadband as infrastructure Abstract: Australia's federal Government has departed from the market-led approach to broadband development favoured by many policymakers internationally: it's chosen to intervene actively in the market, by owning and operating a public broadband infrastructure. The Australian approach (which has important implications for New Zealand's privately provided but government-subsidised Ultra-Fast Broadband Initiative) has been the subject of extensive analysis by Ryerson University's Catherine Middleton. She reports on some of her findings. Author: Catherine MiddletonTitle: A curious case Abstract: Principled decision-making in any context requires that the decision's outcome (the 'factual') be assessed against the alternative outcome (the 'counterfactual') that would have ensued had the decision not been taken. Bronwyn Howell investigates the curious case of the 'Crafar Farms Counterfactual'. Author: Bronwyn Howel