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Notes on the Economics of Energy Storage
Heal, Geoffrey M. - 2016
The increasing importance of intermittent renewable energy sources suggests a growing importance for energy storage as a way of smoothing the variable output. In this paper I investigate factors affecting the amount of energy storage needed, including the degree of intermittency and the...
Persistent link: https://www.econbiz.de/10012980665
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Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets
Borenstein, Severin; Shepard, Andrea - 2010
We present and test an explanation for lags in the adjustment of wholesale gasoline prices to changes in crude oil prices. Our simple model with costly adjustment of production and inventories implies that output prices will respond with a lag to cost shocks even in the absence of menu costs,...
Persistent link: https://www.econbiz.de/10014112936
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On the Timing and Efficiency of Creative Destruction
Caballero, Ricardo J. - 2010
This paper analyzes the timing, pace and efficiency of the on- going job reallocation that results from product and … policies can restore economic efficiency …
Persistent link: https://www.econbiz.de/10013139984
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Property Taxation, Zoning, and Efficiency : A Dynamic Analysis
Coate, Stephen - 2011
This paper revisits the classic argument that a system of local governments financing public service provision via property taxes will produce an efficient allocation of both housing and services if communities can implement zoning ordinances. The novel feature of the analysis is a dynamic model...
Persistent link: https://www.econbiz.de/10013123687
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Inefficient Investment Waves
He, Zhiguo - 2012
We develop a dynamic model of trading and investment with limited aggregate resources to study investment cycles. Unverifiable idiosyncratic investment opportunities imply market prices to play a role of rent distribution, distorting private investment incentives from a social point of view....
Persistent link: https://www.econbiz.de/10013103789
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Exploring Tradeoffs in the Organization of Scientific Work : Collaboration and Scientific Reward
Bikard, Michaël - 2014
efficiency of collaboration and the credit allocation that arises after the completion of collaborative work. In this paper, we …
Persistent link: https://www.econbiz.de/10013064160
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The Redistributive Effects of Financial Deregulation
Korinek, Anton - 2013
Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by … deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We …
Persistent link: https://www.econbiz.de/10013073879
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Efficiently Inefficient Markets for Assets and Asset Management
Garleanu, Nicolae - 2015
costly, and managers charge an endogenous fee. The efficiency of asset prices is linked to the efficiency of the asset …
Persistent link: https://www.econbiz.de/10013015107
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Insolvency Resolution and the Missing High Yield Bond Markets
Becker, Bo - 2013
-standard-deviation increase in the efficiency of bankruptcy is associated with an increase in the stock of corporate bonds equal to 5% of firm …
Persistent link: https://www.econbiz.de/10013076562
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Efficient Recapitalization
Philippon, Thomas - 2009
We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and conditions implementation on sufficient bank participation....
Persistent link: https://www.econbiz.de/10013160157