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Transmission Rights and Market Power on Electric Power Networks I: Financial Rights

Joskow, Paul L; Tirole, Jean - C.E.P.R. Discussion Papers - 1999

We examine whether and how the allocation of financial transmission rights affects the behavior of electricity … allocation of rights is endogenous, depending both on whether transmission rights can enhance market power and the microstructure … region, and a congested transmission link between the two regions. Several other market power configurations are examined in …

Persistent link: https://www.econbiz.de/10005504688

Transmission Rights and Market Power on Electric Power Networks. II: Physical Rights

Joskow, Paul L; Tirole, Jean - C.E.P.R. Discussion Papers - 1999

We examine whether and how the allocation of physical rights to utilize congested transmission links affects the … analysis of financial transmission rights contained in a companion paper to the physical rights case. The analysis recognizes … that the ultimate allocation of transmission rights is endogenous, depending both on whether transmission rights can …

Persistent link: https://www.econbiz.de/10005656250

Competition Enhancing Policies and Infrastructure: Evidence from Russia

Brown, J David; Earle, John S - C.E.P.R. Discussion Papers - 2001

This Paper investigates whether the efficiency effect of product market dispersion is a function of the infrastructural and policy environment. We hypothesise that more developed transportation and communication infrastructure and lower government regulation may reduce transaction costs,...

Persistent link: https://www.econbiz.de/10005504465

Privatization, Public Deficit Finance, and Investment in Infrastructure

Christodoulakis, Nikos; Katsoulacos, Yannis - C.E.P.R. Discussion Papers - 1993

The paper presents a theoretical analysis of the relationship between privatization and public deficit finance. We examine the optimal magnitude of public asset sales and the extent to which privatization can be used to reduce taxes, or, to retire public debt, for two cases. In the first,...

Persistent link: https://www.econbiz.de/10005497891

Migration, Congestion Externalities, and the Evaluation of Spatial Investments

Dinkelman, Taryn; Schulhofer-Wohl, Sam - C.E.P.R. Discussion Papers - 2012

Evaluations of new infrastructure in developing countries typically focus on direct effects, such as the impact of an electrifification program on household energy use. But if new infrastructure induces people to move into an area, other local publicly provided goods may become congested,...

Persistent link: https://www.econbiz.de/10011083273

Welfare Benefits of Agglomeration and Worker Heterogeneity

Groot, Henri L.F. De; Ossokina, Ioulia V.; Teulings, Coen N - C.E.P.R. Discussion Papers - 2014

The direct impact of local public goods on welfare is relatively easy to measure from land rents. However, the indirect effects on home and job location, on land use, and on agglomeration benefits are hard to pin down. We develop a spatial general equilibrium model for the valuation of these...

Persistent link: https://www.econbiz.de/10011084268

Highway To Hitler

Voigtländer, Nico; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2014

Can infrastructure investment win “hearts and minds”? We analyze a famous case in the early stages of dictatorship – the building of the motorway network in Nazi Germany. The Autobahn was one of the most important projects of the Hitler government. It was intended to reduce unemployment,...

Persistent link: https://www.econbiz.de/10011084640

Investment in the Absence of Property Rights: The Role of Incumbency Advantages

Konrad, Kai A. - C.E.P.R. Discussion Papers - 2001

In many situations the individuals who can generate some output must enter a contest for appropriating this output. This Paper analyses the investment incentives of such agents and the role of incumbency advantages in the contest. Depending on the advantages, an increase in the productivity of...

Persistent link: https://www.econbiz.de/10005656133

Expanding the Welfare System: A Proposal for Reform

Orszag, Mike; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1997

This proposal involves the establishment of ‘welfare accounts’ for every person in a country. There are four accounts: a retirement account (covering pensions), an unemployment account (covering unemployment support), a human capital account (covering education and training), and a health...

Persistent link: https://www.econbiz.de/10005661484

Optimal Transportation Policy with Strategic Locational Choice

Thisse, Jacques-François; Wildasin, David - C.E.P.R. Discussion Papers - 1994

This paper presents a model of strategic locational choice by duopolistic firms in an urban area where consumer locations are endogenous and where a public facility is exogenously fixed. A welfare analysis taking their strategic behaviour into account is conducted. It is shown that the firms'...

Persistent link: https://www.econbiz.de/10005662289