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Forecastability and statistical characteristics of aggregate oil and gas investments on the Norwegian Continental Shelf
Lorentzen, Sindre; Osmundsen, Petter - 2016
We investigate the potential for statistical forecasting of aggregate oil and gas investment on the Norwegian Continental Shelf (NCS). A unique and detailed dataset containing data from 109 different fields on the NCS between 1970 and 2015 was employed. A set of 1080 autoregressive distributed...
Persistent link: https://www.econbiz.de/10011544319
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Bank’s risk-taking channel of monetary policy and TLTRO : evidence from the eurozone
Afonso, António; Ferreira, Jorge Braga - 2024
Using a panel data approach with bank-fixed effects, we study the impact of Targeted Longer-Term Refinancing Operations (TLTRO) on banks’ risk, given by their distance to default (DtD). The study aims to determine if the liquidity from TLTROs influences banks’ risk-taking behaviour. For the...
Persistent link: https://www.econbiz.de/10014533785
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Going offshore : investments in German wind energy under uncertainty
Chen, Yu-Fu; Funke, Michael - 2015
Employing a continuous-time real options modeling framework, this paper scrutinizes the incentives to invest in German offshore wind farms. The focus of the analysis is the mode of action of the German feed-in tariff system for offshore wind energy deployment. The numerical results reveal that...
Persistent link: https://www.econbiz.de/10011283826
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Irreversible investments and regulatory risk
Panteghini, Paolo; Scarpa, Carlo - 2003
This paper addresses the issue of how regulatory constraints affect firm s investment choices when the firm has an option to delay investment. The RPI-x rule is compared to a profit sharing rule, which increases the x factor in case profits go beyond a given level. It is shown that a pure price...
Persistent link: https://www.econbiz.de/10011507879
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Investment size and firm's value under profit sharing regulation
Moretto, Michele; Panteghini, Paolo; Scarpa, Carlo - 2003
In this article we analyse the effects of different regulatory schemes (price cap and profit sharing) on a firm s investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a firm s start-up decision relative to a pure price cap...
Persistent link: https://www.econbiz.de/10011509471
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What drives inventory accumulation? : news on rates of return and marginal costs
Görtz, Christoph; Gunn, Christopher M.; Lubik, Thomas A. - 2019
We study the effects of news shocks on inventory accumulation in a structural VAR framework. We establish that inventories react strongly and positively to news about future increases in total factor productivity. Theory suggests that the transmission channel of news shocks to inventories works...
Persistent link: https://www.econbiz.de/10012119865
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Ten facts on declining business dynamism and lessons from endogenous growth theory
Akcigit, Ufuk; Ates, Sina T. - 2019
In this paper, we review the literature on declining business dynamism and its implications in the United States and propose a unifying theory to analyze the symptoms and the potential causes of this decline. We first highlight 10 pronounced stylized facts related to declining business dynamism...
Persistent link: https://www.econbiz.de/10012104042
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The substitution elasticity, factor shares, long-run growth, and the low-frequency panel model
Chirinko, Robert S.; Mallick, Debdulal - 2014
The value of the elasticity of substitution between labor and capital (ó) is a "crucial" assumption in the study of factor incomes (e.g., Piketty (2014a), Piketty and Zucman (forthcoming), Karabarbounis and Neiman (2014)) and long-run growth (Solow, 1956). This paper begins by examining the...
Persistent link: https://www.econbiz.de/10010383304
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Trade openness, market competition, and inflation : some sectoral evidence from OECD countries
Binici, Mahir; Cheung, Yin-Wong; Lai, Kon-sun - 2011
countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity … of market competition. This study shows that inflation decreases with greater market competitiveness even after … openness becomes insignificant in explaining inflation. The results support that changes in market competitiveness and …
Persistent link: https://www.econbiz.de/10009489291
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A retrospective study of state aid control in the German broadband market
Duso, Tomaso; Nardotto, Mattia; Seldeslachts, Jo - 2021
We provide an evaluation of the impact of public subsidy schemes that aimed to support the development of basic broadband infrastructure in rural areas of Germany. Such subsidies are subject to state aid control by the European Commission (EC). While the EC increasingly recognises the role of...
Persistent link: https://www.econbiz.de/10012433753