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Regulation plays a key part in public service reforms. However, corruption and the risk of capture may undermine the … purposes of these reforms. Both cost and incentive based regulations carry corruption and capture risks. This document shows …
Persistent link: https://www.econbiz.de/10005557760
The sub-contracting of land transport is the governmental structure most used by Spanish transport firms. This model is the result of a vertical disintegration process that entails selling vehicles and reassigning tasks within or outside the business. Institutional reforms that regulate...
Persistent link: https://www.econbiz.de/10005557769
This paper examines the impact of federal securities statutes (seven major legislative acts and 535 amendments) on the mean and variance of total real U.S. stock market returns. In contrast to previous work, this study controls for the persistence of the variability of stock returns, employs a...
Persistent link: https://www.econbiz.de/10005557834
This paper examines optimal price (i.e. ‘sliding scale’) regulation of a monopoly when productivity and managerial … effort are not observed. We show how to operationalise this model of incentive regulation and use actual data from … electricity distribution in England and Wales to make welfare comparisons of sliding scale regulation with a stylised price cap …
Persistent link: https://www.econbiz.de/10005557912
During the last two decades there has been an increase in using dynamic tariffs for billing household electricity consumption. This has questioned the suitability of traditional pricing schemes, such as two-part tariffs, since they contribute to create marked peak and offpeak demands. The aim of...
Persistent link: https://www.econbiz.de/10005558080
increased the precision of investors’ priors reducing the information risk component of the cost of capital. At a firm level …, large firms act as “Stackelberg leaders” in voluntary disclosure games. FSA regulation shifts power from leaders to …
Persistent link: https://www.econbiz.de/10005558271
To identify the determinants of cross-country disparities in personal computer and Internet penetration, we examine a panel of 161 countries over the 1999-2001 period. Our candidate variables include economic variables (income per capita, years of schooling, illiteracy, trade openness),...
Persistent link: https://www.econbiz.de/10005558471
This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...
Persistent link: https://www.econbiz.de/10005558490
rely on state-level occupational licensing data. Workers who have higher levels of education are more likely to work in …
Persistent link: https://www.econbiz.de/10005558706
Persistent link: https://www.econbiz.de/10005558725