Showing 1 - 10 of 296
We develop a theoretical model of long-run investment decisions on capacity in the context of a liberalized electricity … the level of capacity that maximizes social welfare, and compare it to a decentralized outcome. We show that in the … absence of any regulation, private investment decisions on capacity unambiguously lead to a socially sub-optimal outcome, and …
Persistent link: https://www.econbiz.de/10005792333
In this paper, we model natural gas market volatility using GARCH-class models with long memory and fat …-tail distributions. First, we forecast price volatilities of spot and futures prices. Our evidence shows that none of the models can … the stylized fact of fat-tail distributions into account. Second, we forecast volatility of basis defined as the price …
Persistent link: https://www.econbiz.de/10010703192
Volatility features of the Nordic day ahead power spot market for a 12-year period up till May 2004 are studied. The … daily logarithmic volatility was measured for this period to be about 16%. This level is well above what is observed for … most other well-studied financial markets. Volatility clustering, log-normal distribution, and long-range correlations are …
Persistent link: https://www.econbiz.de/10011059805
intersections on the capacity of the bus. Both the case of a bus stop with a special stopping lane and that of one without are … considered. The capacity versus the distance LB(LD) between the stop and the upstream (downstream) intersection is studied, with … as a bottleneck and cause a drop in the capacity when the LB (or LD) is below a critical point LBc1(or LDc1). However …
Persistent link: https://www.econbiz.de/10010873349
a model in which facilities can produce output at a privately known cost up to a previously-determined capacity level …. In such a model, the amount of slack in the firm is shown to be pro-cyclical. Indeed, as capacity constraints become … capacity. …
Persistent link: https://www.econbiz.de/10005114255
Following a Supreme Court decision in 1954, natural gas markets in the U.S. were subject to 35 years of intensive federal regulation. Several studies have measured the deadweight loss from the price ceilings that were imposed during this period. This paper concentrates on an additional component...
Persistent link: https://www.econbiz.de/10005791833
Inaccurate measures of the aggregate price level may distort short-run policy decisions and may produce misleading comparisons of productivity growth across decades and among nations. Primarily intended for non-US readers, this paper serves the dual purpose of reviewing compactly the vast US...
Persistent link: https://www.econbiz.de/10005504571
This paper examines the extent to which the destination of exports matters for the input prices paid by firms, using … destinations and find that exporting to richer countries leads firms to charge more for outputs and pay higher prices for inputs …
Persistent link: https://www.econbiz.de/10011083348
Using annual data from several sources, we study the evolution of M1, M2, income, prices and long and short interest … rates in Ireland over the period 1933-2012. We find cointegration and that prices, income and interest rates are weakly …
Persistent link: https://www.econbiz.de/10011084447
Persistent link: https://www.econbiz.de/10004992964