In many public health care systems treatment is rationed by waiting time. We examine the optimal allocation of a .xed supply of a treatment between di¤erent groups of patients. Even in the absence of any distributional aims welfare is increased by third degree waiting time discrimination....

The main objective of this paper is to clarify the controversial role of energy in productivity growth. This is done by reconciling conventional approaches to the measurement of aggregated productivity growth with the microeconomic foundations provided by the energy economics and frontier...

The purpose of this paper is to examine the covariance structure of mixed ARMA models, as discussed in Granger and Morris (1976). The method we use to obtain the autocovariances is based on the Wold representation of an ARMA model as it is given in Pandit (1973) or in Karanasos (2000). We give...

In this paper we consider the impact of the regulation of telephony on Haan's [2001] analysis of the economics of free internet access. Haan considers an unregulated market, and finds that free internet access is compatible with an efficient outcome and avoids the double marginalization problem....