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Forward sales is a credible commitment to aggressive spot market bidding, and it mitigates producers’ market power in electricity markets. Still it can be profitable for a producer to make such a commitment if it results in a soft response from competitors in the spot market (strategies are...
Persistent link: https://www.econbiz.de/10005645406
decades. We argue that pervasive skill biased technological change rather than increased trade with the developing world is …
Persistent link: https://www.econbiz.de/10005190620
trade. Utility-maximizing agents opt between careers in specialized production and careers in predation. Three types of …
Persistent link: https://www.econbiz.de/10005486504
trade expansion. Specifically, we present a stages-of-growth model in which the four phenomena are jointly endogenous and …
Persistent link: https://www.econbiz.de/10005639328
This paper considers a small open economy where an input-output industrial structure, scale economies and imperfect competition, create vertical linkages and multiple equilibria. In this environment, an imperfect labor market is introduced by assuming unionized labor. It is shown that if the...
Persistent link: https://www.econbiz.de/10005639333
The paper demonstrates how trade between developing countries can cause the divergence of long-run growth among these … trade occurs at any moment if the countries have different numbers of intermediate varieties. The country with a larger … number produces more manufactured goods than the other country does. In the bilateral trade the advanced country exports …
Persistent link: https://www.econbiz.de/10005645340
model of trade and location. More specifically, we introduce horizontal and vertical multi-region firms into the core … effects found in the CP model by making the range of trade costs for which the core-periphery equilibrium occurs smaller. The …
Persistent link: https://www.econbiz.de/10005645400
No abstract.
Persistent link: https://www.econbiz.de/10010684419
No abstract.
Persistent link: https://www.econbiz.de/10010684477
No abstract.
Persistent link: https://www.econbiz.de/10010685024