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Market Liquidity -- Theory and Empirical Evidence
Vayanos, Dimitri - 2012
In this paper we survey the theoretical and empirical literature on market liquidity. We organize both literatures around three basic questions: (a) how to measure illiquidity, (b) how illiquidity relates to underlying market imperfections and other asset characteristics, and (c) how illiquidity...
Persistent link: https://www.econbiz.de/10013103064
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Theory and Empirical Work on Imperfectly Competitive Markets
Pakes, Ariel - 2010
This paper reviews recent methodological developments in the empirical analysis of imperfectly competitive markets highlighting outstanding problems. Some of these problems are econometric; e.g. the need for a deeper understanding of the small sample properties of our estimators. Most of the...
Persistent link: https://www.econbiz.de/10012759183
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Prices vs. Quantities : Environmental Regulation and Imperfect Competition
Mansur, Erin T. - 2007
In a market subject to environmental regulation, a firmamp;apos;s strategic behavior affects the production and …
Persistent link: https://www.econbiz.de/10012775795
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Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage
Fowlie, Meredith - 2008
For political, jurisdictional and technical reasons, environmental regulation of industrial pollution is often … regulated producers are less polluting than their unregulated ounterparts, emissions under incomplete regulation can exceed the … level of emissions that would have occurred in the absence of regulation. Converseley, when regulated firms are relatively …
Persistent link: https://www.econbiz.de/10012769643
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Government Intervention in the Markets for Education and Health Care : How and Why?
Poterba, James M. - 2021
Education and health care are the two largest government expenditure items in the United States. The public sector directly provides the majority of educational services, through the public school bureaucracy, while most public support for health care is channelled through a system of...
Persistent link: https://www.econbiz.de/10013224329
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Three Sides of Harberger Triangles
Hines Jr., James R. - 2021
Harberger triangles are used to calculate the efficiency costs of taxes, government regulations, monopolistic practices, and various other market distortions. This paper considers the historical development of Harberger triangles, the associated theoretical controversies, and the contribution of...
Persistent link: https://www.econbiz.de/10013237933
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Imperfect Markets Versus Imperfect Regulation in U.S. Electricity Generation
Cicala, Steve - 2017
This paper measures changes in electricity generation costs caused by the introduction of market mechanisms to determine output decisions in service areas that were previously using command-and-control-type operations. I use the staggered transition to markets from 1999- 2012 to evaluate the...
Persistent link: https://www.econbiz.de/10012965429
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Profiting from Regulation : An Event Study of the EU Carbon Market
Bushnell, James - 2014
permits. In this paper, we examine the effect of this type of environmental regulation on profits. In particular, changes in …
Persistent link: https://www.econbiz.de/10013070488
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Prices Versus Quantities Versus Bankable Quantities
Fell, Harrison G. - 2012
Quantity-based regulation with banking allows regulated firms to shift obligations across time in response to periods …
Persistent link: https://www.econbiz.de/10013109868
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Growing State-Federal Conflicts in Environmental Policy : The Role of Market-Based Regulation
Williams, Roberton C. - 2010
In recent years, cases in which state governments chose to override federal environmental regulation with tighter … paper argues that this change arose at least in part because of a shift in the type of regulation used at the federal level …, from command-and-control regulation toward more incentive-based regulation. Under an incentive-based federal regulation, a …
Persistent link: https://www.econbiz.de/10013141265