It is puzzling today to explain diversity and imperfection of actual transmission monopoly designs in competitive electricity markets. We argue that transmission monopoly in competitive electricity markets has to be analysed within a Wilson (2002) modular framework. Applied to the management of...

A striking feature of US states convergence is the link between the spatial speed of convergence and the aggregate growth rate: fast aggregate growth induces a reduction in regional inequalities. This paper uses a neoclassical growth framework with integrated economies in order to capture this...