In this paper we consider the problem of regulating an open access essential facility. A vertically integrated firm owns an essential input and operates on the downstream market under the roof of a regulatory mechanism. There is a potential entrant in the downstream market. Both competitors use...

This paper analyses the impact of multiple competitive equilibria and complete markets in a simple general equilibrium model. A random selection from the equilibrium correspondence of a finite exchange economy defines probability distributions on equilibrium prices. Asset markets allow traders...

Using plant-level data for the Irish manufacturing sector over the period 1983-98, we study the coagglomeration of domestic plants and foreign multinationals in Ireland. To this end we make use of the index developed by Ellison and Glaeser (1997) and find coagglomeration to be important for a...

This paper shows that the development from an agricultural regime through industrialization to a manufacturing regime occurs simultaneously to the demographic transition and the change in labor structure towards an increasing fraction of skilled labor due to technological progress. The...

We develop an aggregated model to study rational environmental adaptation policies that compensate negative consequences of certain environmental hazards and changes. The model distinguishes three categories of adaptation measures that (a) compensate the decrease of the environmental amenity...

We develop a theory of marriage and fertility, distinguishing the choice to have children from the choice of the number of children. The deep parameters of the model are identified from the 1990 US Census. We measure voluntary and involuntary childlessness, and explain why (1) single women are...

This paper analyzes the role of the structure of skills in economic development through investment in human capital. With a lack of credit market for education and the presence of indivisibilities in investment in human capital as well as of congestion in the educational system, the initial...

While there have been some references in the literature to the potential role of the general decline in rainfall in sub-Saharan African nations on their poor growth performance relative to other developing countries, this avenue remains empirically unexplored. In this paper we use a new...