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Duranton, Gilles; Puga, Diego - C.E.P.R. Discussion Papers - 2014

We provide an integrated treatment of the theoretical literature on urban land use inspired by the monocentric model, including extensions that deal with multiple endogenous business centres, various dimensions of heterogeneity, and durable housing. After presenting the theory and distilling its...

Persistent link: https://www.econbiz.de/10011096093

The Costs of Agglomeration: Land Prices in French Cities

Combes, Pierre-Philippe; Duranton, Gilles; Gobillon, Laurent - C.E.P.R. Discussion Papers - 2012

We develop a new methodology to estimate the elasticity of urban costs with respect to city population using French land price data. Our preferred estimate, which handles a number of estimation concerns, stands at 0.041. Our approach also yields a number of intermediate outputs of independent...

Persistent link: https://www.econbiz.de/10011083617

The growth of cities

Duranton, Gilles; Puga, Diego - C.E.P.R. Discussion Papers - 2013

Why do cities grow in population, surface area, and income per person? Which cities grow faster and why? To these questions, the urban growth literature has offered a variety of answers. Within an integrated framework, this chapter reviews key theories with implications for urban growth. It then...

Persistent link: https://www.econbiz.de/10011084574

Decomposing the Growth in Residential Land in the United States

Overman, Henry G; Puga, Diego; Turner, Matthew A - C.E.P.R. Discussion Papers - 2007

This paper decomposes the growth in land occupied by residences in the United States to give the relative contributions of changing demographics versus increases in the land area used by individual households. Between 1976 and 1992 the amount of residential land in the United States grew 47.5%...

Persistent link: https://www.econbiz.de/10005661656

Europe's 'New' Stock Markets

Bottazzi, Laura; Da Rin, Marco - C.E.P.R. Discussion Papers - 2002

The creation of Europe’s ‘new’ stock markets represents a major experiment in market design with important implications for the ability to support innovative, fast-growing companies. We evaluate the success of these markets based on a large number of measures of firm performance and...

Persistent link: https://www.econbiz.de/10005123860

Effect of Regulatory Constraints on Fund Performance: New Evidence from UCITS Hedge Funds

Joenväärä, Juha; Kosowski, Robert - C.E.P.R. Discussion Papers - 2015

We economically motivate and then test a range of hypotheses regarding performance and risk differences between UCITS-compliant and other hedge funds. The latter exhibit more suspicious return patterns than do absolute return UCITS (ARUs), but ARUs exhibit higher levels of operational risk. We...

Persistent link: https://www.econbiz.de/10011272713

Investment and capital structure of partially private regulated firms

Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011

We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that incorporates two key institutional features of the public utilities sector in many countries: firms are partially owned by the state and regulators are not necessarily...

Persistent link: https://www.econbiz.de/10009209829

When bigger isn’t better: Bail outs and bank behaviour

Li, Han Hao; Miller, Marcus; Zhang, Lei - C.E.P.R. Discussion Papers - 2011

The traditional theory of commercial banking explains maturity transformation and liquidity provision assuming no asymmetric information and no excess profits. It captures the possibility of bank runs and business cycle risk; but it ignores the moral hazard problems connected with risk-taking by...

Persistent link: https://www.econbiz.de/10009320408

Regulation, Privatization, and Airport Charges: Panel Data Evidence from European Airports

Bilotkach, Volodymyr; Clougherty, Joseph A.; Mueller, … - C.E.P.R. Discussion Papers - 2011

main empirical results indicate that aeronautical charges are lower at airports when single-till regulation is employed …, when airports are privatized, and -- tentatively -- when ex-post price regulation is applied. Furthermore, hub airports … generally set higher aeronautical charges, and it appears that price-cap regulation and the presence of nearby airports do not …

Persistent link: https://www.econbiz.de/10009351519

Effects of Deregulation and Vertical Unbundling on the Performance of China's Electricity Generation Sector

Gao, Hang; Van Biesebroeck, Johannes - C.E.P.R. Discussion Papers - 2011

We study whether the 2002 deregulation and vertical unbundling of the Chinese electricity sector has boosted productivity in the generation segment of the industry. Controlling explicitly for sources of price-heterogeneity across firms and for firm-fixed effects, we find deregulation to be...

Persistent link: https://www.econbiz.de/10009385757

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