time. In the context of electricity markets, I show how the auction structure and bidding data can be used to estimate … market prices. These fluctuations can induce estimates of market power that ignore dynamic costs to overstate markup … volatility, with predicted markups that can be even negative in periods of low demand. I show how accounting for startup costs …

market expectation of the price of the underlying asset. Although this expectation in principle may be recovered by adjusting … the futures price by the estimated risk premium, a common problem is that there are as many measures of the market … long-standing problem of how to estimate the market expectation of the price of crude oil. We provide a new measure of oil …

market outcome exhibits inefficient production and inefficient entry. A policy mix of three popular regulatory instruments … — taxation on polluters, feed-in tariffs for clean entrants, and taxation of consumption — cannot correct these two market …

economies? The paper develops a new comparative data set on the usage of electricity in the manufacturing sectors of the USA …

of the electricity market in the U.S. as our case study, we find support for our theoretical predictions. Furthermore, we …. Deregulation tends to increase the level of uncertainty in the upstream market. Our theoretical analysis predicts that deregulated …

increase the volatility of total sales for exporting firms …

This paper presents empirical evidence against the popular perception that macro volatility is exogenous. We obtain tax … effects on macro volatility, explicitly modeling the unobserved variance process. We find a strong empirical link between … taxes and output volatility. Accounting for non-stationarity of taxes and output volatility, we find empirical evidence of a …

previous work to simultaneously include both leakage and volatility. Motivated by discussions on how to reform carbon markets …

According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to … the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model … that replicates the empirically observed pattern and study the impact of demographic transition on output volatility. We …