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Convex vacancy creation costs shape firms' responses to trade liberalization. They induce capacity constraints by increasing firms' cost of production, leading a profit maximizing firm not to fully meet the increased foreign demand. Hence, firms will only serve a few export markets. More...
Persistent link: https://www.econbiz.de/10013119834
We propose a model which uses the Bitcoin/US dollar exchange rate to predict the computing power of the Bitcoin network. We show that free entry places an upper-bound on mining revenues and we devise a structural framework to measure its value. Calibrating the model's parameters allows us to...
Persistent link: https://www.econbiz.de/10012924447
This paper contributes to the green paradox literature by using a resource extraction framework with heterogeneous energy sources. A key feature of the model is a capacity constrained green backstop resource, which implies the simultaneous use of the expensive backstop resource and the cheaper...
Persistent link: https://www.econbiz.de/10013035151
For carbon-intensive, internationally-traded industrial goods, a unilateral increase in the domestic CO2 price may result in the reduction of the domestic production but an increase of imports. In such sectors as electricity, cement or steel, the trade flows result more from short-term regional...
Persistent link: https://www.econbiz.de/10013057661
In this paper, we ask how antitrust immunity subject to a carve-out affects collusion incentives in international airline alliances. We show that the gains from economies of density due to higher interline traffic under the alliance strengthen the incentive to collude on the interhub segment,...
Persistent link: https://www.econbiz.de/10013119837
This paper offers the first formal economic analysis of carve-outs under airline antitrust im- munity. Carve-outs are designed to limit the potential anticompetitive effects of cooperation by alliance partners in hub-to-hub markets, where they provide overlapping nonstop service. While the paper...
Persistent link: https://www.econbiz.de/10013154266
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
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
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
implications of the theory literature on this topic in an empirical study of the US cement industry between 1994 and 2006. Firms in … these markets via both domestic production and imports. Consistent with the theory, we find a negative relationship between …
Persistent link: https://www.econbiz.de/10013138028