Showing 131 - 140 of 204
Under the New Zealand Emissions Trading Scheme, forests planted on or after January 1, 1990, earn carbon credits. These credits have to be repaid when the forest is harvested. This paper analyses the effects of this scheme on the value of bareland on which radiata pine is to be planted. A real...
Persistent link: https://www.econbiz.de/10010734826
This paper analyzes the behavior of a firm that chooses both the scale and timing of its investment. Sensitivity analysis shows that greater demand volatility is associated with the firm investing in larger increments, less frequently. This is in contrast to the conventional wisdom, which is...
Persistent link: https://www.econbiz.de/10010871049
Under the New Zealand Emissions Trading Scheme, forests planted on or after 1st January 1990 earn carbon credits. These credits have to be repaid when the forest is harvested. This paper analyses the effects of this scheme on the value of bareland on which radiata pine is to be planted. A real...
Persistent link: https://www.econbiz.de/10010880338
Under the New Zealand Emissions Trading Scheme, new forests planted on/after 1st January 1990 can earn carbon credits. These credits have to be repaid upon forest harvest. This paper analyses the effects of this carbon scheme on the valuation of bareland, on which radiata pine is to be planted....
Persistent link: https://www.econbiz.de/10010914031
Persistent link: https://www.econbiz.de/10006228401
We demonstrate that a multi-period model, and the valuations it implies, is essential for understanding inefficiency in cooperative organizational forms. Investment is efficient given the supply of input, but economic inefficiency arises because of over-supply of input induced by suppliers...
Persistent link: https://www.econbiz.de/10005764327
This paper shows how the cash flows received by an unregulated firm operating in a workably competitive market can be replicated for a regulated firm. The only change to standard regulatory practice is that each time the regulated firm invests, the amount added to its rate base is the product of...
Persistent link: https://www.econbiz.de/10010943062
Persistent link: https://www.econbiz.de/10004999697
When interest rates are uncertain, the net-present-value threshold required to justify an irreversible investment is increasing in the length of a project's payback period. Therefore, slow-payback projects should face a higher hurdle than fast-payback projects, just as investment folklore...
Persistent link: https://www.econbiz.de/10005659167
"Market power in electricity wholesale spot markets is more likely if there is market segmentation. We show that principal component analysis is a natural tool for the qualitative and quantitative assessment of the presence of local markets. We study whether the New Zealand market has been a...
Persistent link: https://www.econbiz.de/10005659209