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Infrastructure and Public Utilities Privatization in Developing Countries

Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2006

absence of a credible regulatory agency, regulation is achieved through public ownership. …

Persistent link: https://www.econbiz.de/10005124293

Macroeconomic Policy Design and Control Theory - A Failed Partnership?

Currie, David - C.E.P.R. Discussion Papers - 1984

This paper provides a general review of recent developments in the application of control theory to macroeconomic policy design. It starts by highlighting the crucial difference between the engineering and economic control problem, in that the latter, unlike the former, is concerned with the...

Persistent link: https://www.econbiz.de/10005791518

How Should Control Theory be Used by a Time-Consistent Government?

Cohen, Daniel; Michel, Philippe - C.E.P.R. Discussion Papers - 1986

It has been recognized that the optimal strategy of a government is generally time-inconsistent: optimality requires that the government take into account expectations effects in the formulation of its policy and to ignore these effects when applying the policy. In order to analyse the problem,...

Persistent link: https://www.econbiz.de/10005666548

Public Ownership: Concepts and Applications

Mayer, Colin - C.E.P.R. Discussion Papers - 1987

Public ownership is viewed as a restriction on the portfolio of equities held by investors. Three conditions are required to justify such restrictions. First, monitoring and coordination create concentration in supply or demand. Second, complete contracts must be infeasible or undesirable....

Persistent link: https://www.econbiz.de/10005656213

Reliability and Competitive Electricity Markets

Joskow, Paul L; Tirole, Jean - C.E.P.R. Discussion Papers - 2007

This paper seeks to bridge the gap between economists focused on designing competitive market mechanisms and engineers focused on the physical attributes and engineering requirements they perceive as being needed for operating a reliable electric power system. The paper starts by deriving the...

Persistent link: https://www.econbiz.de/10005788956

Competition for Listings

Foucault, Thierry; Parlour, Christine A - C.E.P.R. Discussion Papers - 1999

We develop a model in which two profit maximizing exchanges compete for IPO listings. They choose the listing fees paid by firms wishing to go public and control the trading costs incurred by investors. All firms prefer lower costs, however firms differ in how they value a decrease in trading...

Persistent link: https://www.econbiz.de/10005789046

Lessons from the 2007 Financial Crisis

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2007

adequacy requirements, privately rational but socially inefficient disintermediation, and competitive international de-regulation …

Persistent link: https://www.econbiz.de/10005791213

The Structure of Services in Europe: A Conceptual Framework

Sapir, André - C.E.P.R. Discussion Papers - 1991

Thirty years ago, when the Treaty of Rome came into effect, agriculture and manufacturing dominated activity in the European Community (EC). Today, in every member state, services account for more production and employment than agriculture and manufacturing combined. The growing role of services...

Persistent link: https://www.econbiz.de/10005791734

The Allocative Cost of Price Ceilings: Lessons to be Learned from the US Residential Market for Natural Gas

Davis, Lucas W; Kilian, Lutz - C.E.P.R. Discussion Papers - 2007

federal regulation. Several studies have measured the deadweight loss from the price ceilings that were imposed during this … analysis for the regulation of other markets. Using a household-level, discrete-continuous model of natural gas demand we …-2000, effectively doubling previous estimates of the total welfare losses from natural gas regulation. We find that these allocative …

Persistent link: https://www.econbiz.de/10005791833

Regulation and Investment

Alesina, Alberto F; Ardagna, Silvia; Nicoletti, Giorgio; … - C.E.P.R. Discussion Papers - 2003

the United States, is that the heavy regulation of Europe reduces its growth. Using newly assembled data on regulation in … several sectors of many OECD countries, we provide substantial and robust evidence that various measures of regulation in the …

Persistent link: https://www.econbiz.de/10005791979