Electricity markets vary greatly across jurisdictions, in terms of regulatory institutions, cost levels and environmental impacts. Integrating such different markets can lead to significant changes. This paper considers two jurisdictions - one with a regulated monopoly selling at average cost...

This paper analyzes how risk and other factors altered the relative use of short-term business debt funded by the shadow banking system since the early 1960s. Results indicate that the share was affected over the long-run not only by changing information and reserve requirement costs, but also...

Shale gas proponents argue this unconventional fossil fuel offers a “bridge” towards a cleaner energy system by offsetting higher-carbon fuels such as coal. The technical feasibility of reconciling shale gas development with climate action remains contested. However, we here argue that...

This paper highlights the role of a national Non-Governmental Organization (NGO) in Indonesia as “pioneer” actor in the jatropha global production network, linking solutions for local problems with narratives concerning global concerns. Analysis of previous activities of the NGO positions...

The Federal Food, Drug, and Cosmetic Act (FFDCA) provides that a food is misbranded if the label accompanying the product is false or misleading in any particular. Congress provided minimal guidance to assist the FDA in making these determinations. When challenged, courts have granted...

This paper develops a model of the regulator-regulated firm relationship in a regional natural gas commodity market which can be linked to a competitive market by a pipeline. We characterize normative policies under which the regulator, in addition to setting the level of the capacity of the...

To increase competition in local telephone markets, the 1996 Telecommunications Act required incumbent firms to lease important inputs to competitors at regulated prices. Defending this so-called stepping-stone hypothesis, the Federal Communications Commission argued that new entrants needed a...