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Network Effects, Congestion Externalities, and Air Traffic Delays : Or Why All Delays Are Not Evil
Mayer, Christopher - 2002
We examine two factors that might explain the extent of air traffic delays in the United States: network benefits due to hubbing and congestion externalities. Airline hubs enable passengers to cross-connect to many destinations, thus creating network benefits that increase in the number of...
Persistent link: https://www.econbiz.de/10012470014
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Reversals and the Returns to Liquidity Provision
Dai, Wei; Medhat, Mamdouh; Novy-Marx, Robert; Rizova, Savina - National Bureau of Economic Research - 2023
Different aspects of liquidity impact the performance of short-run reversals in different ways, consistent with the …
Persistent link: https://www.econbiz.de/10014226114
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An Integrated Model of Downtown Parking and Traffic Congestion
Arnott, Richard - 2005
This paper presents a downtown parking model that integrates traffic congestion and saturated on-street parking. We assume that the stock of cars cruising for parking adds to traffic congestion. Two major results come out from the model, one of which is robust. The robust one is that, whether or...
Persistent link: https://www.econbiz.de/10012467567
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Per-Mile Premiums for Auto Insurance
Edlin, Aaron S. - 1999
Americans drive 2,360,000,000,000 miles each year, far outstripping other nations. Every time a driver takes to the road, and with each mile she drives, she exposes herself and others to the risk of accident. Insurance premiums are only weakly linked to mileage, however, and have largely...
Persistent link: https://www.econbiz.de/10012471873
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Educational Production
Lazear, Edward P. - 1999
their classmates do worse. The theory presented below reconciles all of these facts by recognizing that classroom teaching … ranges away from equilibrium levels will adversely affect educational output. The theory argues for a particular non … by lowering class size. The theory provides a measurable and operational way to define school quality that can be tested …
Persistent link: https://www.econbiz.de/10012471435
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Ownership and Use Taxes as Congestion Correcting Instruments
Chia, Ngee-Choon - 2001
In countries, such as Singapore, that have implemented vehicle congestion policies, recent years have seen a shift towards motor vehicle taxes based on car use. Ownership taxes reduce the number of cars on the road, leaving the price per trip largely unaffected. Use taxes such as fuel taxes and...
Persistent link: https://www.econbiz.de/10012470446
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Multiple Equilibria in Open Economy Models with Collateral Constraints : Overborrowing Revisited
Schmitt-Grohé, Stephanie - 2016
This paper establishes the existence of multiple equilibria in infinite-horizon open- economy models in which the value of tradable and nontradable endowments serves as collateral. In this environment, the economy displays self-fulfilling financial crises in which pessimistic views about the...
Persistent link: https://www.econbiz.de/10012456411
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Safe Asset Scarcity and Aggregate Demand
Caballero, Ricardo J. - 2016
We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming environment. Acute safe asset scarcity forces the economy into a "safety trap" recession. In the open economy, safe asset scarcity spreads from one country to the other via capital flows,...
Persistent link: https://www.econbiz.de/10012456630
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Migration, Congestion Externalities, and the Evaluation of Spatial Investments
Dinkelman, Taryn - 2015
The direct benefits of infrastructure in developing countries can be large, but if new infrastructure induces in-migration, congestion of other local publicly provided goods may offset the direct benefits. Using the example of rural household electrification in South Africa, we demonstrate the...
Persistent link: https://www.econbiz.de/10012457824
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The Rise of Factor Investing : "Passive" Security Design and Market Implications
Cong, Lin William; Huang, Shiyang; Xu, Douglas - National Bureau of Economic Research - 2024
potentially heterogeneous effects on liquidity and asset-specific information acquisition/incorporation, depending on the …
Persistent link: https://www.econbiz.de/10014468216