The U.S. natural gas market is crucial for domestic energy and increasingly important in global trade. Structural analyses of this market often adapt oil market models but overlook key features, such as external trade flows, potentially limiting their ability to fully capture its dynamics. This...

The U.S. natural gas market is crucial for domestic energy and increasingly important in global trade. Structural analyses of this market often adapt oil market models but overlook key features, such as external trade flows, potentially limiting their ability to fully capture its dynamics. This...

This study shows that whether a tax is heavy for local casinos in terms of economy-wide efficiency hinges on how much of the tax can be passed on to tourists. The division of the tax burden between casinos and tourists is affected by the relative elasticity of demand versus supply and...

This paper considers the issue of whether a small developing economy such as Hong Kong faces a perfectly elastic demand for its exports of manufactured goods. We construct a simultaneous demand and supply system which is estimated using Full Information Maximum Likelihood methods, and which...