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Revisiting Rothbardian monopoly price theory and extending it to the realm of factor pricing, this paper explains how … environment. Monopolistic grants to capitalists make for situations where both monopoly of demand for factors and monopoly of …
Persistent link: https://www.econbiz.de/10008790886
After years of low macroeconomic volatility since the early eighties, well documented and referred to as the Great Moderation period in the literature, the 2008-2009 worldwide recession adversely impacted output levels in most of advanced countries. This Great Recession period was characterized...
Persistent link: https://www.econbiz.de/10010747962
to explain why the Paris Bourse was able to be so successful in spite of the supposedly inefficient monopoly and …
Persistent link: https://www.econbiz.de/10010930243
Persistent link: https://www.econbiz.de/10010630686
Competition is an efficient alternative to regulation for the power transmission network only for peculiar investments in peculiar conditions. The competitive network investments are generally radial and/or create new commercial links in Direct Current between big markets with high and...
Persistent link: https://www.econbiz.de/10008792502
Theoretical and historical experience suggests a financial centre may either include a single, consolidated and loosely regulated stock exchange attracting all intermediaries and actors, or a variety of exchanges going from strictly regulated to completely unregulated and adapted to the needs of...
Persistent link: https://www.econbiz.de/10008793909
This article analyses the impact of oil price on bond risk premiums issued by emerging economies. No empirical study has yet focussed on the effects of the oil price on government bond risk premiums. We develop a model of credit spread with data from the EMBIG index of seventeen countries, from...
Persistent link: https://www.econbiz.de/10010935037
Why do countries default? this seemingly simple question has yet to be adequately answered in the literature. Indeed, prevailing modelling strategies compel the to choose between two enappealing model features: depending on the cost of default selected by the modeler, either the debt ratios are...
Persistent link: https://www.econbiz.de/10010738843
This article analyses the impact of oil price on bond risk premiums issued by emerging economies. No empirical study has yet focussed on the effects of the oil price on government bond risk premiums. We develop a model of credit spread with data from the EMBIG index of seventeen countries, from...
Persistent link: https://www.econbiz.de/10010618135
In this paper, I show that Polleit and Mariano (2011) are right in concluding that Credit Default Swaps (CDS) are per se unobjectionable from Rothbard's libertarian perspective on property rights and contract theory, but that they fail to derive this conclusion properly. I therefore outline the...
Persistent link: https://www.econbiz.de/10010820940