This article presents a mechanism design analysis of the optimal wholesale tariff proposed by the monopolistic manufacturer of a branded product to a monopolistic retailer if the retailer also sells a private label whose quality is unobserved by the brand manufacturer. While prior literature had...

Market observers criticize the practice of retail brokers routing retail orders to wholesalers and argue that retail flow should execute on exchanges. Using comprehensive data, we show that both wholesalers and exchanges have characteristics beneficial for retail orders. Wholesalers provide...

Real-time pricing demand response programs (RTP-DRPs) are practical measures that ensure the end user’s profitability from using electricity by adjusting the supply and demand equilibrium without activating costly solutions. This study explores the potential of RTP-DRPs by developing and...

I study the impact of banking market concentration and wholesale funding reliance on the transmission of monetary policy shocks to mortgage rates. I empirically demonstrate that in the United States, banks with higher reliance on wholesale funding in concentrated (competitive) deposit markets...

This paper explores the role of markets in facilitating the transition to renewable energy sources. In particular, it investigates the effectiveness of a gross pool wholesale market design, where all electricity is traded in the spot market, in providing price signals that encourage investments...

This paper investigates price volatility and spillover effects in the Nordic electricity wholesale markets, comprising Sweden, Finland, Denmark, and Norway. Utilizing both the Time-Varying Parameter Vector Autoregressive (TVP-VAR) and Rolling Window-based VAR (RW-VAR) approaches, we analyze the...

Fuel price caps are one of the potential regulatory tools for controlling wholesale electricity prices when fuel prices are volatile. In this paper, we introduce a theoretical model to study the effects of such caps on firms’ bidding behavior and clearing prices in spot market auctions. We...

This paper investigates price volatility and spillover effects in the Nordic electricity wholesale markets, comprising Sweden, Finland, Denmark, and Norway. Utilizing both the Time-Varying Parameter Vector Autoregressive (TVP-VAR) and Rolling Window-based VAR (RW-VAR) approaches, we analyze the...

Among the countries currently considering issuing a central bank digital currency (CBDC), including nearly all of G20, there is a strong preference for a retail CBDC made available to the general public through private intermediaries. This Policy Brief sheds light on the technical complexities...

A growing empirical literature finds that firms pass the cost of minimum wage hikes onto consumers via higher retail prices. Yet, little is known about minimum wage effects on wholesale prices and whether retailers face a wholesale cost shock in addition to the labor cost shock. I exploit the...

Relational contracting (RC) is an important yet little understood governance of transactions that provides more stability than the spot market and more flexibility than vertical integration. Employing transaction data on a large vegetable wholesale market in China, we study RC alongside a...

Agency and wholesale models are widely adopted vertical contractual agreements. This paper compares the private incentives and social welfare of these two business models by highlighting the differences in move order and price structure. With a monopoly platform, the agency model dominates the...

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...

Employing a quantile regression model, we investigate the impact of renewable sources on their unit revenues (absolute cannibalization) and value factors (relative cannibalization), as well as the cross-effect between technologies. The results indicate that an increase in wind and solar share...

In electricity markets, generators are rewarded both for providing energy and for enabling grid reliability. The two functions are compensated with two separate payments: energy market payments and ancillary services market payments. We provide evidence of changes in the generation mix in the...

The liquid fuels market in Argentina is characterized by a high level of concentration, especially in local geographic areas. This paper studies the demand of the liquid fuels wholesale chain in Argentina, using the discrete choice approach, based on the premise that different firms offer...

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...

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 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...

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...

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...

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...

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...

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...

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...