estimate that the allocative cost averaged $8.1 billion annually in the U.S. residential market for natural gas during 1950 … cost, its evolution during the post-war period, and its geographical distribution, and we highlight implications of our …

proximity within city-regions is key for the innovative capacity of firms, the literature on ‘global pipelines’ has been … stressing the importance of establishing communication channels to the outside world. This paper uses a specifically tailored … innovations. The results also highlight that the roots of this greater innovative capacity lie in a combination of firm--size of …

country or with an increase in the storage cost in one country. When one country (`the EC') uses a variable import levy and …

a model in which facilities can produce output at a privately known cost up to a previously-determined capacity level …. In such a model, the amount of slack in the firm is shown to be pro-cyclical. Indeed, as capacity constraints become … in downturns. Also, in downturns the firm may use high-cost facili-ties even when low-cost plants are not running at …

We develop a theoretical model of long-run investment decisions on capacity in the context of a liberalized electricity … market. The sector's idiosyncrasies such as the uncertainty surrounding future supply and demand, as well as technological … the level of capacity that maximizes social welfare, and compare it to a decentralized outcome. We show that in the …

increased investment in computers in the rest of the economy. But there has been no acceleration of trend growth in US multi … ‘New Economy’ falls short. The rapid decline in the cost of computer power means that the marginal utility of computer … characteristics like speed and memory has fallen rapidly as well, implying that the greatest contributions of computers lie in the …