Narrow search
Showing 1 - 10 of 796
Cover Image
Capacity investment under demand uncertainty : an empirical study of the US cement industry, 1994-2006
Ponssard, Jean-Pierre; Thomas, Catherine - 2010
Uncertainty about the level of demand is thought to influence irreversible capacity decisions. This paper examines some implications of the theory literature on this topic in an empirical study of the US cement industry between 1994 and 2006. Firms in this sector have the ability to deliver...
Persistent link: https://www.econbiz.de/10008696743
Cover Image
Liquidity, term spreads and monetary policy
Aksoy, Yunus; Basso, Henrique S. - 2012
profitability of banks’ portfolios affect their ability to cover for any liquidity shortage and hence influence the premium they … require to carry maturity risk. During a boom, profitability is increasing and thus spreads are low, while during a recession … profitability is decreasing and spreads are high, in accordance with the cyclical properties of term spreads in the data. Second, we …
Persistent link: https://www.econbiz.de/10009682825
Cover Image
Optimal firm's dividend and capital structure for mean reverting profitability
Menoncin, Francesco; Panteghini, Paolo; Regis, Luca - 2021
optimal dynamic control problem is characterized by two stochastic state variables: the equity value, and profitability (ROA …) of the _rm. According to the empirical evidence, we let profitability follow a mean reverting process. The problem is …
Persistent link: https://www.econbiz.de/10012668498
Cover Image
Import competition and the great US employment sag of the 2000s
Acemoglu, Daron; Autor, David H.; Dorn, David; Hanson, … - 2015
Even before the Great Recession, U.S. employment growth was unimpressive. Between 2000 and 2007, the economy gave back the considerable employment gains achieved during the 1990s, with a historic contraction in manufacturing employment being a prime contributor to the slump. We estimate that...
Persistent link: https://www.econbiz.de/10010528328
Cover Image
Looking into the black box of boosting : the case of Germany
Lehmann, Robert; Wohlrabe, Klaus - 2015
This paper looks into the 'fine print' of boosting for economic forecasting. By using German industrial production for the period from 1996 to 2014 and a data set consisting of 175 monthly indicators, we evaluate which indicators get selected by the boosting algorithm over time and four...
Persistent link: https://www.econbiz.de/10011411839
Cover Image
Market liberalization in the European natural gas market : the importance of capacity constraints and efficiency differences
Brakman, Steven; Marrewijk, Charles van; … - 2009
In the European Union, energy markets are increasingly being liberalized. A case in point is the European natural gas industry. The general expectation is that more competition will lead to lower prices and higher volumes, and hence higher welfare. This paper indicates that this might not happen...
Persistent link: https://www.econbiz.de/10003857130
Cover Image
Capacity decisions with demand fluctuations and carbon leakage
Meunier, Guy; Ponssard, Jean-Pierre - 2014
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/10010246094
Cover Image
Simultaneous supplies of dirty and green fuels with capacity constraint : is there a green paradox?
Gronwald, Marc; Long, Ngo Van; Röpke, Luise - 2013
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/10009786209
Cover Image
Carbon Leakage and capacity-based allocations : is the EU right?
Meunier, Guy; Ponssard, Jean-Pierre; Quirion, Philippe - 2012
Two main approaches have been implemented in regional CO2 markets to address competitiveness and carbon leakage: output based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best policy, given that auctioning with border adjustment...
Persistent link: https://www.econbiz.de/10009687241
Cover Image
Entry dynamics, capacity utilisation and productivity in a dynamic open economy
Aloi, Marta; Dixon, Huw - 2002
This paper analyses an open economy Ramsey model with an endogenous labour supply without capital. The technology defines an optimal firm size. Changes to the number of firms is subject to adjustment costs, so that the entry dynamics is determined endogenously. We find that there is a short run...
Persistent link: https://www.econbiz.de/10011409812