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The authors take a simple, well-known macroeconomic model and treat it as a gam e between two players-the government and an all-embracing union. The payoffs have the form of a prisoner's dilemma. The equilibrium outcom e produces unwanted inflation and is not Pareto optimal. This is desp ite the...
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There has been considerable interest in access rates in Australia since the development of National Competition Policy. This paper provides a framework for analysing the different situations in which access is an appropriate policy tool. It argues that access does not necessarily raise welfare...
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