This paper introduces a type of circular causation called Congestive Mode-Switching (CMS) that may arise when an increase in congestion penalizes transit relative to driving. If demand is also elastic, rising congestion persuades some transit riders to drive, which exacerbates congestion...

The ongoing transformation of the energy system challenges the electricity grids throughout Europe, increasing the costs of congestion management. Because the interconnected electricity grids are operated by many different grid operators, fairly allocating these costs is essential. A...

R&D investment spending exhibits a delayed and hump-shaped response to shocks. We show in a simple partial equilibrium model that rapidly adjusting R&D investment is costly if the probability of converting new hires into productive R&D workers (“onboarding”) is decreasing in the number of...

Safe assets play an important economic role as a store of value. Remarkably, gold is generally not considered a safe asset despite the fact that both gold and government bonds are considered stores of value and both are risky in the short-run as highlighted recently by the Silicon Valley Bank...

Increasing peaks from high-power loads such as EVs and heat pumps lead to congestion of electric distribution grids. The inherent flexibility of these loads could be used to resolve congestion. Possible options for this are smart network tariffs, market-based approaches and direct control of...

Congestion is one of the most challenging issues of urban agglomeration. Congestion costs are higher than socially optimal levels, and little is known about the key parameters needed to design optimal policies. This paper exploits an exogenous reduction in for-hire vehicle supply in New York...

I study the effects of London England’s Congestion Charge on regional traffic, commuting, and economic activity’s spatial distribution. In 2003, London began tolling drivers to enter its central business district on workdays and this policy immediately reduced downtown traffic. I measure...

Over recent years, a fairly large number of project scheduling problems have been focused on maximizing the Net Present Value (NPV) of cash flows during the project. From the contractor's point of view, cash inflows generally represent their revenues, and cash outflows are expenditures. In most...