Caplin & Leahy (1996) show that, when central bankers learn about theeconomy by observing its response to policy shock, cautious monetary policymay be ineffectual as private agents correctly anticipate that today's interestrate cuts are likely to be followed by future cuts. The central banker...

This paper studies the regulation of an airline duopoly on a congested airport. Regulation should then address two market failures: uninternalized congestion, and overpricing due to market power. We find that first-best charges are differentiated over airlines if asymmetric, and completely drive...

Der Luftverkehrssektor stellt eine grundlegende Infrastruktur moderner Volkswirtschaften bereit. Mit der Liberalisierung der internationalen Luftverkehrsmärkte und der Privatisierung von Verkehrsflughäfen besteht die Notwendigkeit, den staatlichen Ordnungsrahmen an diese veränderten...