solve for a Bayesian Nash equilibrium and show that the equilibrium has a price instability in the sense that a minor change … in a supplier's cost sometimes result in a major change in the market price. In wholesale electricity markets, we predict … that the bid price of the most expensive production unit can change by 1-10% due to price instability. The price …

This study presents new homogenous series of top income shares in Sweden over the period 1903-2004. We find that …. When included, Sweden's experience resembles that in the U.S. and the U.K. with sharp increases in top incomes. Excluding … capital gains, Sweden looks more like the continental European countries where top income shares have remained relatively …

We study the development of wealth concentration in Sweden over 130 years, from the beginning of industrialization …

Realized capital gains are typically disregarded in the study of income inequality. We show that in the case of Sweden … surge in capital gains-driven inequality in Sweden since the 1980s. While there are no evident changes in terms of who earns … price increases on the post-1980 deregulated financial markets. …

We analyze the rate of formation, the characteristics, and the performance of different types of new firms in Sweden … over a decade. Comparisons to Denmark, Brazil, and the U.S. suggest that the environment for new firm formation in Sweden …

industry and the role that globalization plays in that process. Using matched worker-firm data from Sweden, we find strong …

This paper discusses a number of questions with regard to Sweden's economic and political development: How did Sweden … become rich? What explains Sweden's high level of income equality? What were the causes of Sweden's problems from 1970 to … 1995? How is it possible that Sweden, since the crisis of the early 1990s, is growing faster than most EU countries despite …