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Towards Transparency in Finance and Governance
Vishwanath, Tara; Kaufmann, Daniel - EconWPA - 2003
The study of transparency is increasingly a more topical, broadly relevant, but also more under-researched enterprise. The Asian financial crisis has highlighted not only the welfare consequences of financial sector transparency, sparking a series of yet unresolved debates, but has also linked...
Persistent link: https://www.econbiz.de/10005561607
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Does Inefficiency Justify Privatization? The Case of Intermediate Industry Monopolies
Glomm, Gerhard; Mendez, Fabio - EconWPA - 2005
monopolist to study the effects of privatization on steady state levels of income. We allow for public sector inefficiencies … relative inefficiency of public firms and the amount of public investment. Furthermore, the gains from privatization are found … to be strongly related to the balance sheet of the public firm that is privatized. Privatization of public firms which …
Persistent link: https://www.econbiz.de/10005412752
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Privatization, Corporate Control and Regulatory Reform: The case of Telefonica
Bel, Germa; Trillas, Francesc - EconWPA - 2004
investigates the case of a large privatized firm subject to many policy constraints. The last steps of Telefonica's privatization … documented phenomenon both in this study and in the cross-country literature on privatization; e.g. political ends in … privatization, influence in appointments, golden shares) as the most visible part of such collusion. Liberalization and multi …
Persistent link: https://www.econbiz.de/10005413213
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The Deposit Insurance in Bulgaria: Is the time for change?
Bojinov, Bojidar - EconWPA - 2003
During 1997 Bulgaria has experienced one of the most deep financial crises in CEE countries. The combination with currency crisis, widespread bank failures, hyperinflation and government crisis has a very negative affect over the whole Bulgarian economy. Parallel with the introduction of...
Persistent link: https://www.econbiz.de/10005134848
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A Unified Approach to Credit Crunches, Financial Instability, and Banking Crises
Peter, Goetz von - EconWPA - 2003
We link banking and asset prices in a simple monetary macroeconomic model. Our main innovation is to consider how wide-spread default affects the banking system. We find that the interaction of credit, asset prices, and loan losses explains a complete spectrum of outcomes, including financial...
Persistent link: https://www.econbiz.de/10005412610
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Asset Prices and Banking Distress: A Macroeconomic Approach
Peter, Goetz von - EconWPA - 2004
This paper links banking with asset prices in a monetary macroeconomic model. The main innovation is to consider how falling asset prices affect the banking system through wide-spread borrower default, while deriving explicit solutions and balance sheet effects even far from the steady state. We...
Persistent link: https://www.econbiz.de/10005413177
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Manipulated, Misled, Ignored, Abused: Residential Consumer Experience with Electric Deregulation in the United Kingdom
Jewell, Kevin - EconWPA - 2004
jumped after deregulation, and new types of complaints such as unauthorized switching of service (“slamming”) arose. Failure … existing customer base. Higher prices for low- income consumers: Since deregulation begain in 1990, there has been a marked …
Persistent link: https://www.econbiz.de/10005076594
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Stochastic programming in energy
Wallace, Stein W.; Fleten, Stein-Erik - EconWPA - 2002
both traditional cost minimization models and newer models that reflect industry deregulation processes. The oldest …
Persistent link: https://www.econbiz.de/10005125661
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A Proposal to Promote Local Competition: The LoopCo Plan
Morris, Roy - EconWPA - 1998
The LoopCo Plan, which uses market mechanisms to promote competition, is the best approach to restructuring the telecommunications market, say its proponents, who object to the requirements and to-date implementation of the Telecommunications Act of l996. The local-loop's spin-off 's consumer...
Persistent link: https://www.econbiz.de/10005126025
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Reformas Regulatórias e Reestruturação no Setor Elétrico
Pinto, Bruno José Marques - EconWPA - 2005
The paper examines the economic and regulatory factors that led to an explosion in the wholesale power prices, supply shortages, and utility insolvencies in California’s electricity sector. A necessary first step in determining the lessons learned from the California electricity crisis is a...
Persistent link: https://www.econbiz.de/10005126483