Public-Private Partnerships have become a favoured way of introducing private capital into transport projects whilst maintaining an element of public interest. This paper considers the potential conflicts that might arise between the freedom of the private operator within a PPP and other...

This article investigates a dynamic general equilibrium model with a stockout constraint, which means that no seller can sell more than the inventories that she has. The model successfully explains two inventory facts; (i) inventory investment is procyclical, and (ii) production is more volatile...