The gap between the Consumer Price Index (CPI) and Wholesale Price Index (WPI) is not always showing a definite trend. There are times when the gap between the indices is very high, and there are times when the gap is very low. This inconsistent relationship between the two indices is a cause of...

Purpose - This paper aims to analyse systematically previous literature that sought to understand the formation of circular supply chains (CSCs) and propose a research agenda for implementing circular economy 4.0 in the wholesale industry. Design/methodology/approach - The research is based on a...

Electricity markets worldwide are undergoing a many‐decade transition in the way electricity is generated and consumed. The success of this transition depends critically on climate policy and market design. We model the most advanced electricity markets in the world to evaluate the impact of...

Similar to the perfect one, second-degree price discrimination charges different price for different quantity. Unlike the perfect one, this time the discount is massive, and the quantity difference even so. An obvious explanation is that the customer is a wholesaler, who has a larger demand...

This work presents a novel method for generating electricity price scenarios from statistical properties of past electricity prices using a hybrid statistical and reduced-form stochastic model. Previous work in applying stochastic differential equations (SDE) to model electricity prices has...

We document rapid increases in (i) retail trading in options and (ii) payment for order flow, received by the U.S. retail brokerages from the so-called wholesalers in exchange for routing orders to them. Exploiting new flags in transaction-level data, we isolate wholesaler trades and build a...

We use a two-stage model to determine the equilibrium capacities, generation levels and prices of a wholesale electricity market in which independent power producers (IPPs) use natural-gas (NG) and photovoltaic (PV) technologies. PV’s effective capacity is low in the morning and afternoon...

Background: There is a lack of studies on the waste of fruits and vegetables covering both distributors and the retail sector. Our study advances from previous ones by proposing the analysis of local retailers of different sizes and wholesalers. Our objective was to analyze the logistical...

I evaluate the effect of the 2011 Swedish electricity market splitting reform on the allocation of wind power, exploiting a unique data set of all Swedish applications for wind power since 2003. By comparing investments in each price zone before and after the reform using a...

High labor turnover imposes costs on a firm and hinders the accumulation of human capital. In an increasingly competitive market, retaining competent employees is a necessity. To avoid excessive labor turnover, it is necessary to identify which characteristics influence career pathways for...

Ziel dieses Berichts ist die Darstellung der - im Rahmen des Dialogforums Groß- und Einzelhandel, unter Mitwirkung der teilnehmenden Handelsunternehmen - erhobenen Daten zu Lebensmittelverlusten im Handelssektor in Deutschland für das Jahr 2019. Darüber hinaus sollen die Erkenntnisse der...

After outlining characteristics of Japan's distribution sector, a comprehensive international comparison of it to those of other nations is presented and analyzed for underlying differences. This leads to an explanation of Japan's retail store density, which is then related to the structure of...

We simulate competitive benchmark wholesale prices for electricity in California during the summer of 2000, taking account of changes in natural gas prices, electricity demand, and imports of electricity from other states during this time period. We also examine the impact of changes in the...

Estimating market power is often complicated by the lack of reliable measures of marginal cost. Instead, policy-makers often rely on other summary statistics of the market, thought to be correlated with price cost margins---such as concentration ratios or the HHI. In many industries, these...

This paper studies the effects of capacity market reforms that the U.S. grid operators have undertaken in response to state-level subsidies paid to emission-free electricity generation. We first derive an analytical model of energy-and-capacity markets that allows us to predict the price and...

Adoption of real-time electricity pricing %u2014 retail prices that vary hourly to reflect changing wholesale prices %u2014 removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are highest. If their losses are substantial, these customers...

In the growth literature, evidence on income convergence is mixed. In the development literature, health and education indicators are also often used. This study examines whether health and education levels are converging across countries and calculates their convergence speed, using data from...

This paper builds a baseline two-country model of real and monetary transmission under optimal international price discrimination. Distributing traded goods to consumers requires nontradables; because of distributive trade, the price elasticity of export demand depends on the exchange rate....

In most liberalized electricity markets, flaws in short-term price formation have led to a "missing money" problem wherein average energy prices are too low to support an efficient level of capacity. Recent growth of wind and solar generation has exposed another category of flaws related to...

Wolf (2000) demonstrates that trade within the U.S. appears substantially impeded by state borders. We revisit this finding with improved data. We show that much intra-national home bias can be explained by wholesaling activity. Shipments by wholesalers are much more localized within states than...

I review several prominent wholesale electricity market design challenges presently facing policy makers, explain their importance with respect to decarbonization of the energy system, and identify a number of areas where economic research can inform policy to facilitate decarbonization. I draw...

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that this prediction is broadly consistent with the...

In practice, numerous retailers are implementing price-matching guarantees (PMGs) whereby they promise to match the price of an identical product at a competing retailer. Despite strong connection between retailers and manufacturer, however, the literature has extensively studied retailers' PMGs...

With the rapid growth of e-commerce, agency selling is currently gaining popularity among online retailers (e-tailers). Prior research implicitly abstracts away cross-brand pass-through under traditional wholesale selling (i.e., how the retail price of another brand adjusts to changes in a given...

This paper examines the effects on the exports of Estonian firms of the Russian export shock of 2014, which was a multifaceted negative market-wide income shock. The dataset covers all the Estonian exporters that exported to Russia in 2013 and the empirical analysis uses a...

I examine the impact of the overtime provisions of the Fair Labor Standards on weekly hours worked between 1938 and 1950 by comparing workers in wholesale trade, a sector which was covered by the Act, with those in retail trade, a sector which was not. I find that the Act reduced hours worked,...

In May 1996 the U.S. Supreme Court struck down Rhode Island's ban on advertising prices of alcoholic beverages, making Rhode Island the subject of a natural experiment for measuring the impact of advertising on prices. Using Massachusetts prices as controls, we find that while advertising stores...

Food safety is a global problem with a large impact on human health and a high level of priority for governments. Supply chain traceability is key to enable food safety, since it allows problems to be traced to their source. Moreover, it allows regulatory agencies to understand where risk enters...

Forward commodity markets allow more efficient risk-sharing and information aggregation, but there is little evidence that this reduces the cost of producing the commodity. We develop a measure of the extent to which forward and spot prices agree in commodity markets with transaction costs and...

The goal of this study was to review the wholesale insurance market in order to understand major business processes, to identify where there are perceived problems or inefficiencies, and to analyse where the new technology of block-chain can provide part of a solution.This study aims to...