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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

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

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

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

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

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

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

The Optimal Long-Run Inflation Rate for the U.S. Economy

Billi, Roberto M. - Society for Computational Economics - SCE - 2006

This paper characterizes the optimal long-run rate of inflation, consistent with an occasionally binding zero lower bound on nominal interest rates, in a stochastic New Keynesian sticky-price model calibrated to the U.S. economy. This may serve to inform discussions on the design of an...

Persistent link: https://www.econbiz.de/10005342865

Structural Estimation and Evaluation of Calvo-Style Inflation Models

Dufour, Jean-Marie; Khalaf, Lynda; Kichian, Maral - Society for Computational Economics - SCE - 2006

The authors structurally estimate and evaluate, for the U.S., the E.U., and Canada, various classes of recently-proposed Calvo-type models, using identification-robust methods. The models differ in their assumptions regarding price indexation (when firms cannot re-optimize their pices), in the...

Persistent link: https://www.econbiz.de/10005342944

Regional Inflation Dynamics within and across Euro Area and a Comparison with the US

Beck, Guenter; Marcellino, Massimiliano - Society for Computational Economics - SCE - 2006

We investigate co-movements in inflation dynamics within and across euro area regions and find it important for monetary policy to monitor regional inflation dynamics to enhance the understanding of aggregate inflation. We employ a model where regional inflation dynamics are explained by common...

Persistent link: https://www.econbiz.de/10005342977

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