Este artículo considera un modelo de generaciones solapadas, aplicado a una economía pequeña, abierta al comercio internacional y caracterizada por la existencia de competencia imperfecta en los mercados de bienes y de trabajo, para analizar: i) cuáles fueron los principales determinantes de...

This manuscript studies the market conduct of the milk manufacturers and retail chains in a Midwestern state in the U.S. Following the menu approach we employ a random coefficient logit demand model to investigate several possible scenarios on the supply side. Demand estimates are obtained using...

This paper investigates the pricing and vertical organization of differentiated products under imperfect competition. In a multiproduct context, a Cournot model is used to examine how substitution/complementarity relationships among products and vertical structures can affect the exercise of...

Market access in the WTO is highly fragmented due to exceptions from GATT principles. Tariff-rate quotas (TRQs) stand in contradiction to the principle of the GATT, according to which all quantitative restrictions in international trade should be eliminated. Bhagwati’s theorem of the...

This paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second half of the 1990s despite declining market concentration. It examines whether this was consistent with static, non-cooperative oligopoly models, which are widely...

This paper analyses the economics of long-term gas contracts under changing institutional conditions, mainly gas sector liberalisation. The paper is motivated by the increasingly tense debate in continental Europe, UK and the US on the security of long-term gas supply. We discuss the main issues...

The three papers in this dissertation all deal with new challenges for energy policy.The first paper deals with mitigation of market power in deregulated wholesaleelectricity markets, while the second and third papers deal with reduction ofgreenhouse gas emissions.The first paper experimentally...

This paper uses representative firm level panel data of 1,701 Bulgarian and 2,047 Romanian manufacturing firms to estimate price-cost margins and to analyze how these are affected by privatization and increased competitive pressure. The estimation method used, which is based on Roeger (1995),...

Recent empirical studies have found significant evidence of departures from competition in the input side of the bread,breakfast cereal and margarine end-product markets. In this study we specify a general duality model of profitmaximisation that allows for imperfect competition in the input and...

In recent years increasing number of contractual arrangements in food chains are observed. There areseveral reasons for this phenomenon. Improving food quality often requires significant specific investments. Givenhigh asset specificity, investors find it difficult to appropriate the returns on...