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Persistent link: https://www.econbiz.de/10003518839
We examine electricity market reform in Brazil: from the 1990s till 2004 the largely hydro-powered market cleared using a market mechanism, and in March 2004 reformed to a single buyer structure. We model monthly log price differences using a two-state Markov Switching model, allowing water...
Persistent link: https://www.econbiz.de/10012059460
that is due to heterogeneous skill endowments. Meanwhile, taxes and transfers insure 45% of lifetime earnings risk. Taxes …
Persistent link: https://www.econbiz.de/10012108653
productive abilities and education. Additionally, the system insures against 48% of lifetime earnings risk. Implementing a …
Persistent link: https://www.econbiz.de/10014427523
context, in terms of potential causes, a distinction is made between a rise in the global risk assessment, tensions within the … large part to monetary policy and to a minor extent to the risk assessment within the euro area. At the peak of the European …
Persistent link: https://www.econbiz.de/10012510162