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Firm Dynamics with Infrequent Adjustment and Learning
Pinto, Eugenio - Society for Computational Economics - SCE - 2006
Recent empirical findings have emphasized post entry growth of survivors, as opposed to exit of inefficient and small firms, as the main source of growth over time in the average size of a cohort of entering firms. In this paper, as an explanation for the significant growth of survivors, we...
Persistent link: https://www.econbiz.de/10005706205
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Tax Policies, Vintage Capital, and Entry and Exit of Plants
Jansen, Dennis W.; Chang, Shao-Jung - Society for Computational Economics - SCE - 2005
Over the years, optimal taxation has been extensively discussed, and a major focus has been on the question of whether the optimal capital income tax rate is zero in long-run equilibrium. This paper addresses this issue in the context of a model of vintage capital with technical change and the...
Persistent link: https://www.econbiz.de/10005132687
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The Scarring Effect of Recessions
Ouyang, Min - Society for Computational Economics - SCE - 2005
This paper explores the role that recessions play in resource allocation. The conventional cleansing view, advanced by Schumpeter in 1934, argues that recessions promote more efficient resource allocation by driving out less productive units and freeing up resources for better uses. However,...
Persistent link: https://www.econbiz.de/10005342998
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Duopolistic competition in an electricity markets with heterogeneous cost functions
Guerci, Eric; Ivaldi, Stefano; Raberto, Marco; … - Society for Computational Economics - SCE - 2006
In this paper the compelling issue of efficiency of electricity markets has been studied by means of an artificial …
Persistent link: https://www.econbiz.de/10005706196
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Modeling the strategic trading of electricity assets
Oliveira, Fernando S.; Bunn, Derek W. - Society for Computational Economics - SCE - 2006
We analyze how strategic asset trading can be used to gain competitive advantage. In the case of electricity markets …
Persistent link: https://www.econbiz.de/10005342882
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Agent-based simulation of power exchange with heterogeneous production companies
Cincotti, Silvano; Guerci, Eric - Society for Computational Economics - SCE - 2005
Since early nineties, worldwide production and distribution of electricity has been characterized by a progressive … liberalization. The state-owned monopolistic production of electricity has been substituted by organized power exchanges (PEs). PEs … are markets which aggregate the effective supply and demand of electricity. Usually spot-price market are Day Ahead Market …
Persistent link: https://www.econbiz.de/10005343049
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An Agent-Based Computational Laboratory for Testing the Economic Reliability of Wholesale Power Market Designs
Koesrindartoto, Deddy; Sun, Junjie - Society for Computational Economics - SCE - 2005
. Computationally rendered generator agents (bulk electricity sellers) and load-serving entity agents (bulk electricity buyers …
Persistent link: https://www.econbiz.de/10005345046
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Is the relationship between ination and its uncertainty linear?
Karanasos, M.; Schurer, S. - Society for Computational Economics - SCE - 2006
We use parametric power ARCH models of the conditional variance of inflation and monthly data in Germany, the Netherlands and Sweden for the period 1962-2004 to examine the relationship between inflation and inflation uncertainty. In two out of the three countries inflation significantly raises...
Persistent link: https://www.econbiz.de/10005537397
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The Role of Consumer's Risk Aversion on Price Rigidity
Alves, Sergio A Lago; Bugarin, Mirta N S - Society for Computational Economics - SCE - 2006
This paper aims at contributing to the research agenda on the sources of price stickiness, showing that the adoption of nominal price rigidity may be an optimal firms' reaction to the consumers' behavior, even if firms have no adjustment costs. With regular broadly accepted assumptions on...
Persistent link: https://www.econbiz.de/10005537399
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The money-age distribution: Empirical facts and economic modelling
Heer, Burkhard; Maussner, Alfred; McNelis, Paul - Society for Computational Economics - SCE - 2006
The money-age distribution is found to be hump-shaped for the US economy. The variation (inequality) of cash holdings within generations increases (declines) with age. Furthermore, cash holdings are found to be only weakly correlated ith both income and wealth. We analyze three motives for money...
Persistent link: https://www.econbiz.de/10005537418