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Equilibrium at a Bottleneck when Long-Run and Short-Run Scheduling Preferences diverge

Peer, Stefanie; Verhoef, Erik T. - 2013

We consider equilibrium and optimum use of a Vickrey road bottleneck, distinguishing between long-run and short-run scheduling preferences in an otherwise stylized scheduling model. The preference structure reflects that there is a distinction between the (exogenous) 'long-run preferred arrival...

Persistent link: https://www.econbiz.de/10010326534

Instrumental Variables, Errors in Variables, and Simultaneous Equations Models: Applicability and Limitations of Direct Monte Carlo

Zellner, Arnold; Ando, Tomohiro; Basturk, Nalan; … - 2011

A Direct Monte Carlo (DMC) approach is introduced for posterior simulation in theInstrumental Variables (IV) model with one possibly endogenous regressor, multipleinstruments and Gaussian errors under a flat prior. This DMC method can also beapplied in an IV model (with one or multiple...

Persistent link: https://www.econbiz.de/10010326547

Simultaneous Search and Network Efficiency

Gautier, Pieter A.; Holzner, Christian L. - 2011

When workers send applications to vacancies they create a network. Frictionsarise because workers typically do not know where other workers apply to and firmsdo not know which candidates other firms consider. The first coordination frictionaffects network formation, while the second coordination...

Persistent link: https://www.econbiz.de/10010326553

Estimating Ricardian models with panel data

Massetti, Emanuele; Mendelsohn, Robert - 2011

Many nonmarket valuation models, such as the Ricardian model, have been estimated using cross sectional methods with a single year of data. Although multiple years of data should increase the robustness of such methods, repeated cross sections suggest the results are not stable. We argue that...

Persistent link: https://www.econbiz.de/10010326565

Buy coal! Deposit markets prevent carbon leakage

Harstad, Bård - 2010

If a coalition of countries implements climate policies, nonparticipants tend to consume more, pollute more, and invest too little in renewable energy sources. In response, the coalition's equilibrium policy distorts trade and it is not time consistent. By adding a market for the right to...

Persistent link: https://www.econbiz.de/10010326729

A "new trade" theory of GATT/WTO negotiations

Ossa, Ralph - 2009

I develop a novel theory of GATT/WTO negotiations. This theory provides new answers to two prominent questions in the … fundamental GATT/WTO principles of reciprocity and nondiscrimination? Relative to the standard terms-of-trade theory of GATT …/WTO negotiations, my theory makes two main contributions: first, it builds on a 'new trade' model rather than the neoclassical trade …

Persistent link: https://www.econbiz.de/10010326741

Locating Economic Concentration

Hinloopen, Jeroen; van Marrewijk, Charles - 2004

We analyze the distribution of economic activity across space for different types of activity and different levels of aggregation. Not only is this distribution highly uneven (independently of the type of activity and level of aggregation), it is also remarkably regular regarding its size...

Persistent link: https://www.econbiz.de/10010326749

Trade liberalization and labor market dynamics

Dix-Carneiro, Rafael - 2011

I study trade-induced transitional dynamics by estimating a structural dynamic equilibrium model of the Brazilian labor market. The model features a multi-sector economy with overlapping generations, heterogeneous workers, endogenous accumulation of sector-specific experience and costly...

Persistent link: https://www.econbiz.de/10010326791

Self-confirming immigration policy

Giordani, Paolo E.; Ruta, Michele - 2012

We study immigration policy in a small receiving economy under self-selection of migrants. We show that a non-discriminatory immigration policy choice affects and is affected by the migratory decisions of skilled and unskilled foreign workers. From this interaction multiple equilibria may arise,...

Persistent link: https://www.econbiz.de/10010326815

Optimal resource allocation in multiclass networks

Naumov, Valeriy; Martikainen, Olli - 2011

In this paper, we study resource allocation in multiclass networks having several types of flexible servers and general constraints on the number of servers at each station. Each job class is characterized by the station where the job is processed and by the amount of work allocated to that...

Persistent link: https://www.econbiz.de/10010326889