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The goal of this paper is to bring some unity to the theoretical side of the debate on internalization of airport congestion by showing that all the literature's theoretical results can be derived within one simple and unified framework. The analysis starts by replicating the results of...
Persistent link: https://www.econbiz.de/10012776625
This paper analyzes slot-based approaches to management of airport congestion, using a model where airlines are asymmetric and internalize airport congestion. Under these circumstances, optimal congestion tolls differ across carriers, and since a slot-sale regime (with its uniform slot price)...
Persistent link: https://www.econbiz.de/10012771860
This paper provides the first analysis of the trade-off between convenient flight connections and airport congestion. A continuous spatial model illustrates this trade-off in a framework where a small gap between flight operating times raises congestion while also shortening a connecting...
Persistent link: https://www.econbiz.de/10013014357
In classical traffic flow theory, there are two velocities associated with a given level of traffic flow. Following …
Persistent link: https://www.econbiz.de/10013316409
Many central banks have become more transparent during the last decade, in particular about macroeconomic prospects. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic shocks. In particular, it allows central banks to...
Persistent link: https://www.econbiz.de/10013057641
There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper provides an overview of the ways in which central banks have been providing more information about their monetary policymaking. Furthermore, it reviews the theoretical literature on...
Persistent link: https://www.econbiz.de/10013058509
Central bank independence and transparency have become best practice in monetary policy. This paper cautions that transparency about economic information may not be beneficial in the absence of central bank independence. The reason is that it reduces monetary uncertainty, which could make the...
Persistent link: https://www.econbiz.de/10013317033
, this paper aims to bridge the gap between the theory and practice of monetary policy transparency …
Persistent link: https://www.econbiz.de/10013318125
The International Monetary Fund (IMF) is in the process of re-inventing itself with bilateral and multilateral surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power that member countries exert at the IMF. First, we...
Persistent link: https://www.econbiz.de/10013069721
productivity and their social preferences. This paper presents causal evidence that they do. In a real-effort experiment, we elicit …
Persistent link: https://www.econbiz.de/10013118359