In many countries current water-pricing policies are dictated by the sole objective of breaking-even in each period. This results in large withdrawals which are not sustainable in the long-run hence not optimal. In this paper I derive the optimal dynamic water resource management policy of a...

The paper attempts to estimate a unit labor cost based competitiveness index for Turkey. The trade weighted real effective exchange rate isthe generally used measure of external competitiveness,which at timesmay fail to explain why a country's export performance improves despite its overvalued...

Auction models have proved to be attractive to structural econometricians who, since the late 1980s, have made substantial progress in identifying and estimating these rich game-theoretic models of bidder behavior. We provide a guide to the literature in which we contrast the various...

This paper models a spectrum auction as a multi-unit auction where participantsuse the goods purchased to participate in a constrained multi-good downstream market. We use dynamic programming techniques to solve for the optimal bidding strategy for firms in a clock auction. Firms often value...

This paper studies residential, commuting and car ownership decisions in the Greater Wellington Region of New Zealand. We establish an estimation methodology that is robust to endogeneity between house prices and residential decisions. The paper also makes extensive use of Geographic Information...