the theory to analyze whether a reduction in trade costs increases the probability of becoming an exporter relatively more …

Upon discussion of price setting on electricity wholesale markets, many refer to the so-called merit order model …. Conventional wisdom holds that during most hours of the year, coal- or natural gas-fired power plants set the price on European … markets. In this context, this paper analyses price setting on European power markets. We use a fundamental electricity market …

characterized by a higher ex-ante unit price, a smaller number of suppliers, and purchased by a smaller number of public …