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The Value of Transmission in Electricity Markets : Evidence from a Nuclear Power Plant Closure

Davis, Lucas W. - 2014

Reliable estimates of the value of electricity transmission are critical if these heavily-regulated investments are to be made cost-effectively. In this paper, we exploit the abrupt closure of the San Onofre Nuclear Generating Station (SONGS) in February 2012. During the previous decade, SONGS...

Persistent link: https://www.econbiz.de/10013053145

The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry

Borenstein, Severin; Bushnell, James; Stoft, Steven - 2021

capacity on competition among" generators. We show that there may be no relationship between the effect of a transmission line …" in spurring competition and the actual electricity that flows on the line. We then investigate the" equilibria that are … relatively small investments in transmission may yield surprisingly large" payoffs in terms of increased competition …

Persistent link: https://www.econbiz.de/10013240555

Endogenous Capital Utilization and Productivity Measurement in Dynamic Factor Demand Models : Theory and an Application to the U.S. Electrical

Prucha, Ingmar R. - 2010

Studies of the firm's demand for factor inputs often assume a constant rate of utilization of the inputs and ignore the fact that the firm can simultaneously choose the level and the rate of utilization of its inputs. In particular, the literature on dynamic factor demand models has, until...

Persistent link: https://www.econbiz.de/10013139928

The Effects of Mergers on Prices, Costs, and Capacity Utilization in the U.S. Air Transportation Industry, 1970-84

Lichtenberg, Frank R.; Kim, Moshe - 2021

We analyze the effect of mergers on various aspects of airline performance during the period 1970-84, using a panel data set constructed by Caves et al. Estimates derived from a simple "matched pairs" statistical model indicate that these mergers were associated with reductions in unit cost. The...

Persistent link: https://www.econbiz.de/10013211662

Chronic Excess Capacity in U.S. Industry

Hall, Robert E. - 2021

Previous research has suggested that firms in a number of industrieshave considerable market power, in the sense that their prices exceedtheir marginal costs. However, the observed profits of those industriesare not nearly as high as would occur under full exploitation of the marketpower with a...

Persistent link: https://www.econbiz.de/10013226940

Monetary Policy and Asset Prices : A Look Back at Past U.S. Stock Market Booms

Bordo, Michael D. - 2011

This paper examines the economic environments in which past U.S. stock market booms occurred as a first step toward understanding how asset price booms come about and whether monetary policy should be used to defuse booms. We identify several episodes of sustained rapid rise in equity prices in...

Persistent link: https://www.econbiz.de/10013127756

The Effects of the Saving and Banking Glut on the U.S. Economy

Justiniano, Alejandro - 2013

We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...

Persistent link: https://www.econbiz.de/10013072878

The Effects of Environmental Regulation on the Competitiveness of U.S. Manufacturing

Greenstone, Michael - 2014

The economic costs of environmental regulations have been widely debated since the U.S. began to restrict pollution emissions more than four decades ago. Using detailed production data from nearly 1.2 million plant observations drawn from the 1972-1993 Annual Survey of Manufactures, we estimate...

Persistent link: https://www.econbiz.de/10013065447

Vertical Arrangements, Market Structure, and Competition an Analysis of Restructured U.S. Electricity Markets

Bushnell, James - 2007

This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long-term contracts, have less incentive to raise wholesale prices when retail prices are determined beforehand. For three restructured markets, we simulate prices that define...

Persistent link: https://www.econbiz.de/10012775797

The Antebellum U.S. Iron Industry : Domestic Production and Foreign Competition

Davis, Joseph H. - 2007

1827. These estimates are used to assess the vulnerability of the antebellum iron industry to foreign competition and the …

Persistent link: https://www.econbiz.de/10012775911

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