Imperial College London


Business School

Head of the Department of Economics and Public Policy



+44 (0)20 7594 9215t.valletti Website CV




417City and Guilds BuildingSouth Kensington Campus






BibTex format

author = {Genakos, C and Valletti, T},
doi = {10.1111/ecoj.12194},
journal = {Economic Journal},
pages = {F31--F48},
title = {Evaluating a decade of mobile termination rate regulation},
url = {},
volume = {125},
year = {2015}

RIS format (EndNote, RefMan)

AB - We re-consider the impact that regulation of call termination on mobile phones has had on mobilecustomers’ bills. Using a large panel covering 27 countries, we find that the ‘waterbed’ phenomenon,initially observed until early 2006, becomes insignificant on average over the 10-year period, 2002–11.We argue that this is related to the changing nature of the industry, whereby mobile-to-mobile trafficnow plays a much bigger role compared to fixed-to-mobile calls in earlier periods. Over the samedecade, we find no evidence that regulation caused a reduction in mobile operators’ profits andinvestments.
AU - Genakos,C
AU - Valletti,T
DO - 10.1111/ecoj.12194
EP - 48
PY - 2015///
SN - 1468-0297
SP - 31
TI - Evaluating a decade of mobile termination rate regulation
T2 - Economic Journal
UR -
UR -
VL - 125
ER -