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Illiquidity measures appear to be related to monthly realized returns but do they impact long-run costs of capital (CoC …
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status. Using a matched difference-in-difference estimation strategy to account for confounding shipping costs, I find the …Under what conditions does cost-of-service regulation lead firms to distort costs? This paper analyzes changes in fuel …
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This paper evaluates changes in fuel procurement practices by coal- and gas-fired power plants in the United States following state-level legislation that ended cost-of-service regulation of electricity generation. I find that deregulated plants substantially reduce the price paid for coal (but...
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