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Determinants of Investment under Incentive Regulation: The Case of Norwegian Electricity Distribution Networks

Poudineh, R.; Jamasb, T. - Faculty of Economics, University of Cambridge - 2013

Investment in electricity networks, as regulated natural monopolies, is among the highest regulatory and energy policy … electricity sector, identifying investment drivers of power networks facilitates effective regulatory treatment of investment … under incentive regulation. This study analyses the determinants of investment in Norwegian electricity distribution …

Persistent link: https://www.econbiz.de/10010729016

Pairwise Tests of Purchasing Power Parity Using Aggregate and Disaggregate Price Measures

Pesaran, M.H.; Smith, R.P; Yamagata. T.; Hvozdyk, L. - Faculty of Economics, University of Cambridge - 2006

In this paper we adopt a new approach to testing for purchasing power parity, PPP, that is robust to base country effects, cross-section dependence, and aggregation. We test for PPP applying a pairwise approach to the disaggregated data set recently analysed by Imbs, Mumtaz, Ravan and Rey (2005,...

Persistent link: https://www.econbiz.de/10005647420

Optimal Monetary Policy Rules Under Inflation Range Targeting.

Medina, J.P.; Valdes, R. - Faculty of Economics, University of Cambridge - 2000

We calculate and compare optimal monetary policy (MP) rules for a simple economy under alternative central bank objective (loss) functions. We compare both soft- and hard-edges range (zone) targeting as well as asymmetric loss-functions to a quadratic loss case. The latter represents the...

Persistent link: https://www.econbiz.de/10005776877

Structural Interactions in Spatial Panels

Bhattacharjee, A.; Holly, S. - Faculty of Economics, University of Cambridge - 2010

Traditionally, research has been devoted almost exclusively to estimation of underlying structural models without adequate attention to the drivers of diffusion and interaction across cross section and spatial units. We review some new methodologies in this emerging area and demonstrate their...

Persistent link: https://www.econbiz.de/10008545808

Rational Partisan Theory, Uncertainty and Spatial Voting: Evidence for the Bank of England’s MPC

Bhattacharjee, A.; Holly, S. - Faculty of Economics, University of Cambridge - 2010

The transparency and openness of the monetary policymaking process at the Bank of England has provided very detailed information on both the decisions of individual members of the Monetary Policy Committee and the information on which they are based. In this paper we consider this decision...

Persistent link: https://www.econbiz.de/10008545814

Inflation Targeting, Committee Decision Making and Uncertainty: The case of the Bank of England’s MPC

Bhattacharjee, A.; Holly, S. - Faculty of Economics, University of Cambridge - 2005

Transparency and openness of the monetary policymaking process at the Bank of England has provided very detailed information on both the decisions of individual members of the Monetary Policy Committee and the information on which they are based. We consider this decision making process in the...

Persistent link: https://www.econbiz.de/10005783788

Monetary Policy, Nominal Interest Rates, and Long-horizon Inflation Uncertainty

Wright, Stephen - Faculty of Economics, University of Cambridge - 1998

Empirical evidence presented in this paper shows that the predictability of inflation at long horizons varies considerably across countries. Both simple theory and empirical evidence suggest that the crucial factor is the extent to which systematic monetary policy succeeds in stabilising the...

Persistent link: https://www.econbiz.de/10005113782

Dynamic Efficiency and Incentive Regulation: An Application to Electricity Distribution Networks

Poudineh, Rahmatallah; Emvalomatis, Grigorios; Jamasb, … - Faculty of Economics, University of Cambridge - 2014

of firms may not be adjusted instantaneously when firms undertake investment. In these instances, short run inefficiency …

Persistent link: https://www.econbiz.de/10010949354

Lumpy Price Adjustments, A Microeconometric Analysis

Dhyne, E.; Fuss, C.; Pesaran, H.; Sevestre, P. - Faculty of Economics, University of Cambridge - 2007

This paper presents a simple model of state-dependent pricing that allows identification of the relative importance of the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the price.s driving variables (extrinsic). Using two data sets...

Persistent link: https://www.econbiz.de/10005489354

Macro Economic Instability and Business Exit: Determinants of Failures and Acquisitions of Large UK Firms

Bhattacharjee, A.; Higson, C.; Holly, S.; Kattuman, P. - Faculty of Economics, University of Cambridge - 2002

Using data over a 34-year span on UK quoted firms, this paper seeks to identify the factors that increase the likelihood of exit of firms. Firms may disappear through the mutually precluding events of bankruptcies and acquisitions. We use a competing-risks hazard model to determine...

Persistent link: https://www.econbiz.de/10005489363