Competition Policy in the Times of Virus and a New Legitimacy for Public Intervention

Andrea Pezzoli

Mercato Concorrenza Regole, 2020, issue 1, 139-155

Abstract: Relaxing antitrust rules during economic crisis has been a recurrent temptation,whereas competition can be part of the solution, especially when integrated withpublic policies aimed at protecting redundant employees and more vulnerable firms.The challenge for competition authorities during the virus is in the short run to contributeto the re-building of the markets, providing legal certainty for the cooperationagreements strictly necessary to face the emergency and, given the tool-kit at theirdisposal, contributing to contain price spikes. In the medium run, while the industriesmost affected by the crisis reorganize their structure, merger review should privilege apragmatic and flexible approach but not a permissive one. However, market processmay be insufficient when long term decisions have to be made in order to make oureconomic system more resilient. In this perspective public intervention could play acrucial role but has to be consistent with competition.

Keywords: Competition; Antitrust; Industrial policy; Covid-19. (search for similar items in EconPapers)
Date: 2020
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