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Industry Compensation Under Relocation Risk : A Firm-Level Analysis of the EU Emissions Trading Scheme
Martin, Ralf - 2013
When regulated firms are offered compensation to prevent them from relocating, efficiency requires that payments be distributed across firms so as to equalize marginal relocation probabilities, weighted by the damage caused by relocation. We formalize this fundamental economic logic and apply it...
Persistent link: https://www.econbiz.de/10013080845
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Skill-Specific Rather then General Education : A Reason for Us-Europe Growth Differences?
Krueger, Dirk; Kumar, Krishna B. - 2021
education subsidy policy we demonstrate that the optimal subsidy for general education increases with the growth rate of …
Persistent link: https://www.econbiz.de/10013212567
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Railroads and Local Economic Development : The United States in the 1850s
Haines, Michael R. - 2006
We use county and individual-level data from 1850 and 1860 to examine the economic impact of gaining access to a railroad. Previous studies have found that rail access was positively correlated with the value of agricultural land at a point in time, and have interpreted this correlation as...
Persistent link: https://www.econbiz.de/10012779652
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Did Railroads Make Antebellum U.S. Banks More Sound?
Atack, Jeremy - 2014
We investigate the relationships of bank failures and balance sheet conditions with measures of proximity to different forms of transportation in the United States over the period from 1830-1860. A series of hazard models and bank-level regressions indicate a systematic relationship between...
Persistent link: https://www.econbiz.de/10013055511
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Mergers, Deregulation and Cost Savings in the U.S. Rail Industry
Berndt, Ernst R.; Friedlaender, Ann F.; Wang Chiang, … - 2021
The success of deregulation in creating a viable private rail freight system in the ?U.S. since 1979 is relatively undisputed. Deregulation has proceeded in three ways: (i) eased rate setting restrictions; (ii) simplified merger applications and approval procedures; and (iii) relaxed route...
Persistent link: https://www.econbiz.de/10013210639
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Child Care Subsidies and Child Development
Herbst, Chris M. - 2010
of the criticisms of the current subsidy system, however, is that it overemphasizes work and does little to encourage … care subsidies for child development. In this paper, we provide a systematic assessment of the impact of subsidy receipt on … relationship between child care subsidies and child development. In particular, our results suggest that subsidy receipt in the …
Persistent link: https://www.econbiz.de/10012758196
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Value Based Cost Sharing Meets the Theory of Moral Hazard : Medical Effectiveness in Insurance Benefits Design
Pauly, Mark V. - 2010
The conventional theory of optimal coinsurance rates in health insurance in the presence of moral hazard indicates that, in situations of equal risk characteristics, coinsurance should vary if the price-responsiveness or price-elasticity of demand for different medical services varies, and...
Persistent link: https://www.econbiz.de/10012760124
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Quantifying Equilibrium Network Externalities in the Ach Banking Industry
Ackerberg, Daniel A. - 2010
We seek to determine the causes and magnitudes of network externalities for the automated clearinghouse (ACH) electronic payments system. We construct an equilibrium model of customer and bank adoption of ACH. We structurally estimate the parameters of the model using an indirect inference...
Persistent link: https://www.econbiz.de/10012760684
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Mortgage Default and Low Downpayment Loans : The Costs of Public Subsidy
Deng, Yongheng - 2010
This paper presents a unified model of the default and prepayment behavior of homeowners in a proportional hazard framework. The model uses the option-based approach to analyze default and prepayment and considers these two interdependent hazards as competing risks. The results indicate the...
Persistent link: https://www.econbiz.de/10012763726
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Mandates and the Affordability of Health Care
Glied, Sherry - 2009
This paper examines the economic rationale of affordability exemptions in the context of a health insurance mandate. On its face, an affordability exemption makes little sense-- it exempts people from purchasing a good that policymakers believe benefits them. I provide an economic definition of...
Persistent link: https://www.econbiz.de/10012765374