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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/10012473395
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/10012455928
monopoly or competition and studies how the ability to charge viewers subscription prices impacts market performance …
Persistent link: https://www.econbiz.de/10012471263
This paper describes an efficiency approach to the evaluation of policy changes. Rather than comparing the utility …
Persistent link: https://www.econbiz.de/10012471468
This paper explores the trade-off between incentive effects and administrative costs associated with the implementation of various environmental tax instruments, with special reference to carbon taxes. In a simple model, we show under what conditions it is optimal to use input rather than...
Persistent link: https://www.econbiz.de/10012471486
instruments. In a simple model with identical consumers, we show conditions under which the same efficiency can be attained by the … efficiency can again be obtained, but only if each person's gasoline tax rate can be made to depend on the characteristics of the …
Persistent link: https://www.econbiz.de/10012471742
literature has been prominent in legislative debates about taxation as a tool to discourage smoking, and has contributed theory … research and several equity and efficiency concerns accompanying cigarette taxation debates. It includes economic analysis of …
Persistent link: https://www.econbiz.de/10012471754
from import competition are inferior performers …
Persistent link: https://www.econbiz.de/10012471757
This paper surveys recent developments in the theory of pareto efficient taxation. This literature attempts to …
Persistent link: https://www.econbiz.de/10012476881
production, as theory has hypothesized. The number of members in a group decreases both the quantity produced and the efficiency … arrangements on productive efficiency in medical group practices. The technique employed is two-stage production frontier … estimation. This technique provides direct estimates of productive efficiency and allows for differences across agents in ability …
Persistent link: https://www.econbiz.de/10012476899