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Measuring Welfare in Restructured Electricity Markets
Mansur, Erin T. - 2007
Restructuring electricity markets has enabled wholesalers to exercise market power. Using a common method of measuring competitive behavior in these markets, several studies have found substantial inefficiencies. This method overstates actual welfare loss by ignoring production constraints that...
Persistent link: https://www.econbiz.de/10012465137
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Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
Blanchard, Olivier - 2001
Product and labor market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … regulation as determining both the entry costs faced by firms, and the degree of competition between firms. We think of labor …
Persistent link: https://www.econbiz.de/10012470609
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Unilateral Tariff Liberalisation
Baldwin, Richard - 2010
strives to partly redress this lacuna on the theory side by introducing three novel political economy mechanisms with …
Persistent link: https://www.econbiz.de/10012462058
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Migration-Regime Liberalization and Social Security : Political-Economy Effect
Razin, Assaf - 2009
The pay-as-you-go social security system, increasingly burdened by dwindling labor force, can benefit from immigrants whose birth rates exceed those of the native born birth. The paper examines adynamic political-economy mechanism through which the social security system influences the young...
Persistent link: https://www.econbiz.de/10012463636
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Do Oligopolists Pollute Less? Evidence from a Restructured Electricity Market
Mansur, Erin T. - 2007
regulation took effect. I find that strategic firms reduced their emissions by approximately 20% relative to other firms and …
Persistent link: https://www.econbiz.de/10012465135
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When Does Capital Account Liberalization Help More than It Hurts?
Arteta, Carlos - 2001
In this paper we reconsider the evidence on capital account liberalization and growth. While we find indications of a positive association, the effects vary with time, with how capital account liberalization is measured, and with how the relationship is estimated. The evidence that the effects...
Persistent link: https://www.econbiz.de/10012470268
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Trade versus Investment Liberalization
Markusen, James R. - 1997
Despite several theoretical contributions and considerable informal empirical evidence" to the contrary, a notion that trade and investment are substitutes persists in trade policy" analysis. This paper considers the liberalization of commodity trade versus liberalization" allowing direct...
Persistent link: https://www.econbiz.de/10012472580
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Market Reforms in the Time of Imbalance
Cacciatore, Matteo - 2016
business cycle conditions at the time of deregulation significantly affect adjustment. A reduction of firing costs entails …
Persistent link: https://www.econbiz.de/10012456546
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Short-Term Pain for Long-Term Gain : Market Deregulation and Monetary Policy in Small Open Economies
Cacciatore, Matteo - 2015
This paper explores the effects of labor and product market reforms in a New Keynesian, small open economy model with labor market frictions and endogenous producer entry. We show that it takes time for reforms to pay off, typically at least a couple of years. This is partly because the benefits...
Persistent link: https://www.econbiz.de/10012456887
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Liberty for More : Finance and Educational Opportunities
Levine, Ross - 2013
Banking reforms--that reduced interest rates--boosted college enrollment rates among able students from middle class families. We define "able" students as those with learning aptitude scores in the top two-thirds of the U.S. population. We define "middle class" as families in which both parents...
Persistent link: https://www.econbiz.de/10012459281