Showing 21 - 30 of 682
We study optimal timing of regulated investment in a real options setting, in which the regulated monopolist has private information on investment costs. In solving the ensuing agency problem, the regulator trades off investment timing inefficiency against the dead-weight loss arising from high...
Persistent link: https://www.econbiz.de/10011031756
In CPB Discussion Paper 209 we study incentives of financial intermediaries to reserve liquidity given that they can rely on the interbank market for their liquidity needs. Intermediaries can partially pledge their assets to each other, but not to the rest of the economy. Therefore liquidity...
Persistent link: https://www.econbiz.de/10011031764
We study how the possibility of renegotiation affects optimal bail-out policies for countries under asymmetric information on a country's cost of reforms. To that end, we solve the Bellman equation describing the optimal bail-out mechanism in a multiple-period principal-agent model with adverse...
Persistent link: https://www.econbiz.de/10011152973
We analyse downstream access and capacity choice in the market for wireless telecommunications, where spectrum rights are owned by vertically integrated duopolists and may be traded. In the market for wireless telecommunications, radio spectrum is an essential input. Prior to network...
Persistent link: https://www.econbiz.de/10005052129
We analyze long-run scenarios for the European natural gas markets in a model, NATGAS, that explicitly includes both resource constraints and producers’ market power. Europa wordt geconfronteerd met afnemende eigen aardgasvoorraden, met name in de van oudsher grote producenten het Verenigd...
Persistent link: https://www.econbiz.de/10005064811
In this study, we analyse changes in market power in the Dutch supermarket chain and discuss the effects on welfare. The supermarket chain includes consumers, supermarkets, buyer groups and food manufactures. We look at the theoretical background of market power.  Special attention has been...
Persistent link: https://www.econbiz.de/10005168866
We explore whether a Financial Transactions Tax (FTT) is likely to correct the market failures that have contributed to the financial crisis, to what extent FTT succeeds in raising revenues, and how the FTT compares to alternative taxes in terms of efficiency. We find little evidence that the...
Persistent link: https://www.econbiz.de/10009421931
The financial crisis has been attributed partly to perverse incentives for traders at banks and has led policy makers to propose regulation of banks' remuneration packages. We explain why poor incentives for traders cannot be fully resolved by only regulating the bank's top executives, and why...
Persistent link: https://www.econbiz.de/10009646397
This paper provides an analysis of exclusive contracts between health care providers and insurers in a model where some consumers choose to stay uninsured. In case of a monopoly insurer, exclusion of a provider changes the distribution of consumers who choose not to insure. Although the...
Persistent link: https://www.econbiz.de/10008633178
A renewable obligation combined with tradable renewable energy certificates is a market-based instrument used to promote the production of electricity from renewable energy sources. A renewable obligation is an alternative for subsidies. A renewable obligation will only be an efficient...
Persistent link: https://www.econbiz.de/10008633196