The dynamics of oil prices in the past few years and their vertiginous rise observed during 2008 have captured the attention of academia and governments. This paper proposes an analysis of the petroleum market, making emphasis in the crude benchmarks WTI and Brent, the world reserves...

One of the most important economic strategic sectors in any economy is the electricity market. Its main feature is its oligopolistic character favoured by the returns to scale which act as an entry barrier. As a result, the energy generators can use their power market in order to increase their...

This paper develops an oligopoly model with firms that may potentially be public or private, and solves it for different cases in which the number and ownership of those firms vary. The results are then compared in terms of total surplus and consumer surplus, and this comparison produces...

En este artículo se estudia la privatización de un grupo de bancos públicos provinciales en Argentina en 1993-2001. En contraste con la mayoría de los estudios previos sobre privatizaciones que analizaron principalmente sus efectos sobre la eficiencia económica, este estudio se enfoca en...

Este trabajo es acerca de un modelo de competencia en precios en el mercado de un producto homogéneo con libre entrada de empresas idénticas y rendimientos variables a escala. Si el número óptimo de empresas activas en el mercado es dos o más, el equilibrio de Bertrand existe siempre para...

La naturaleza potencialmente anticompetitiva de las prácticas impartidas desde las organizaciones de profesionales ha sido racionalizada por la literatura económica y ha ocupado un lugar no menor en la agenda de los organismos de defensa de la competencia. Sin embargo, la economía empírica...

La red productiva representa un mecanismo económico clave para comprender cómo los choques microeconómicos se propagan en el sistema económico. En esta línea se han desarrollo diversos trabajos teóricos bajo el supuesto de libre competencia, sin considerar el poder de mercado ni la posible...

In this paper, we study the relationship between reconciliations in the Colombian electricity market and the bid prices by firms on the spot market. In this work,we propose a model of behavior of the firm to elaborate theoretical predictions about the relationship between the reconciliations and...

We analyze the credit channel effects on new residential property prices in Medellín, Colombia, using a simultaneous equations model. Our empirical results show that the main determinants of new residential properties prices are mortgage interest rates and the availability of government...

This paper is about a model of Bertrand competition in a homogeneous-good market with free entry of identical firms and variable returns to scale. If the optimum number of active firms in the market is two or more, and the number of active firms is equal to that optimum number, then Bertrand...