Deregulating Imperfect Markets PDF Download
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Author | : Frans van Waarden |
Publisher | : Thesis Pub |
Total Pages | : 141 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : 9789051704808 |
Download Deregulating Imperfect Markets Book in PDF, ePub and Kindle
The free unfolding of market forces through deregulation and privatization has become a key issue of socio-economic policies all over the world. The policy initiatives have brought about a lively debate on the pros and cons of markets, state regulations and associational activity. The public policy debate has, however, been cut off from the related discussions in a variety of academic disciplines on the relation between institutions, markets and economic performance. As Boyer and Hollingsworth note: We are witnessing a major paradox. Governments are relying more and more upon markets in order to solve the many difficult issues which they are confronting, at the very moment when theorists are discovering that the efficiency of markets is restricted to a very small set of products.' This book is an interdisciplinary theoretical reflection on the relation between social institutions and societal cultures on the one hand and the (economic) performance of markets on the other. We will use findings and insights from different disciplines to discuss the deregulation policy program. Firstlyl, we will critical investigat on some of the assumptions that underlie these neo-liberal politics. Secondly, we will present the findings of some policy studies that have compared deregulation policies in different countries and policy fields: two policy fields taken from social policy (occupational health and safety, and vocational training) and one case study of a country that has gone far with deregulation policies, New Zealand. Thirdly, we will analyze some possibly unforeseen consequences of deregulation policies.
Author | : Serhan Ogur |
Publisher | : |
Total Pages | : 251 |
Release | : 2007 |
Genre | : |
ISBN | : 9781109940312 |
Download Models of Imperfect Competition in Deregulated Wholesale Electricity Markets Book in PDF, ePub and Kindle
On the first issue, we find that allowing generators to partially own transmission companies is not necessarily detrimental to consumer interests, depending on the transmission network configuration and the resulting congestion patterns. On the second issue, our finding is that, except in a few limiting cases, the optimal choice of objective function for the public (or regulated) firm for total surplus maximization is never pure profit maximization or pure welfare (or consumers' surplus) maximization, but a strictly convex combination of the two. Both results differ from the conventional wisdom and the previous findings of the relevant literatures, due to the special characteristics of the electricity markets and the electric transmission networks that are not observed in any other standard industry structure.
Author | : Nobuhiro Suzuki |
Publisher | : |
Total Pages | : 35 |
Release | : 1993 |
Genre | : Competition, Imperfect |
ISBN | : |
Download Imperfect Competition Model and Deregulation Book in PDF, ePub and Kindle
Author | : Giorgio Calcagnini |
Publisher | : Springer Science & Business Media |
Total Pages | : 237 |
Release | : 2009-10-22 |
Genre | : Business & Economics |
ISBN | : 3790821314 |
Download The Economics of Imperfect Markets Book in PDF, ePub and Kindle
This book is a collection of eleven papers concerned with the effects of market imperfections on the decision-making of economic agents and on economic policies that try to correct the inefficient market outcomes due to those imperfections. As a consequence, real and financial imperfections are related : economic decisions are simultaneously affected by imperfections present both in real and financial markets. Notwithstanding the obvious fact that market interdependence is not novel, scholar interests are typically concentrated on the specific relationship among economic decisions originating from particular imperfections. This explains why, in the case of perfect financial markets, we can speak of "the" us.
Author | : Nicole V. Crain |
Publisher | : DIANE Publishing |
Total Pages | : 95 |
Release | : 2005 |
Genre | : Law |
ISBN | : 1437940617 |
Download The Impact of Regulatory Costs on Small Firms Book in PDF, ePub and Kindle
This is a print on demand edition of a hard to find publication. The annual cost of federal regulations in the U.S. increased to more than $1.75 trillion in 2008. Had every U.S. household paid an equal share of the federal regulatory burden, each would have owed $15,586 in 2008. While all citizens and businesses pay some portion of these costs, the distribution of the burden of regulations is quite uneven. The portion of regulatory costs that falls initially on businesses was $8,086 per employee in 2008. Small businesses, defined as firms employing fewer than 20 employees, bear the largest burden of federal regulations. This report shows that as of 2008, small businesses face an annual regulatory cost of $10,585 per employee, which is 36% higher than the regulatory cost facing large firms (500+ employees). Ill.
Author | : Mr.Romain A Duval |
Publisher | : International Monetary Fund |
Total Pages | : 44 |
Release | : 2017-12-14 |
Genre | : Business & Economics |
ISBN | : 1484333012 |
Download Job Protection Deregulation in Good and Bad Times Book in PDF, ePub and Kindle
This paper explores the short-term employment effect of deregulating job protection for regular workers and how it varies with prevailing business cycle conditions. We apply a local projection method to a newly constructed “narrative” dataset of major regular job protection reforms covering 26 advanced economies over the past four decades. The analysis relies on country-sector-level data, using as an identifying assumption the fact that stringent dismissal regulations are more binding in sectors that are characterized by a higher “natural” propensity to regularly adjust their workforce. We find that the responses of sectoral employment to large job protection deregulation shocks depend crucially on the state of the economy at the time of reform——they are positive in an expansion, but become negative in a recession. These findings are consistent with theory, and are robust to a broad range of robustness checks including an Instrumental Variable approach using political economy drivers of reforms as instruments. Our results provide a case for undertaking job protection reform in good times, or for designing it in ways that enhance its short-term impact.
Author | : Paul L. Joskow |
Publisher | : MIT Press (MA) |
Total Pages | : 269 |
Release | : 1988-08-01 |
Genre | : Business & Economics |
ISBN | : 9780262600187 |
Download Markets for Power Book in PDF, ePub and Kindle
This timely study evaluates four generic proposals for allowing free market forces toreplace government regulation in the electric power industry and concludes that none of thederegulation alternatives considered represents a panacea for the performance failures associatedwith things as they are now. It proposes a balanced program of regulatory reform and deregulationthat promises to improve industry performance in the short run, resolve uncertainties about thecosts and benefits of deregulation, and positions the industry for more extensive deregulation inthe long run should interim experimentation with deregulation, structural, and regulatory reformsmake it desirable.The book integrates modern microeconomic theory with a comprehensive analysis ofthe economic, technical, and institutional characteristics of modern electrical power systems. Itemphasizes that casual analogies to successful deregulation efforts in other sectors of the economyare an inadequate and potentially misleading basis for public policy in the electric power industry,which has economic and technical characteristics that are quite different from those in otherderegulated industries.Paul L. Joskow is Professor of Economics at MIT, author of ControllingHospital Costs (MIT Press 1981) and coauthor with Martin L. Baughman and Dilip P. Kamat of ElectricPower in the United States (MIT Press 1979). Richard Schmalensee, also at MIT, is Professor ofApplied Economics, author of The Economics of Advertising and The Control of Natural Monopolies, andeditor of The MIT Press Series, Regulation of Economic Activity.
Author | : Mr.Anton Korinek |
Publisher | : International Monetary Fund |
Total Pages | : 42 |
Release | : 2013-12-17 |
Genre | : Business & Economics |
ISBN | : 1475546084 |
Download The Redistributive Effects of Financial Deregulation Book in PDF, ePub and Kindle
Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk-taking by earning greater expected returns. However, risktaking also increases the incidence of large losses that lead to credit crunches and impose negative externalities on the real economy. We describe a Pareto frontier along which different levels of risktaking map into different levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to the financial sector at the expense of the rest of the economy.
Author | : Clifford Winston |
Publisher | : Brookings Institution Press and AEI |
Total Pages | : 152 |
Release | : 2006 |
Genre | : Business & Economics |
ISBN | : |
Download Government Failure Versus Market Failure Book in PDF, ePub and Kindle
When should government intervene in market activity? When is it best to let market forces simply take their natural course? How does existing empirical evidence about government performance inform those decisions? Brookings economist Clifford Winston uses these questions to frame a frank empirical assessment of government economic intervention in Government Failure vs.
Author | : E. Weisman |
Publisher | : Springer Science & Business Media |
Total Pages | : 206 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9400906714 |
Download Trade in Services and Imperfect Competition Book in PDF, ePub and Kindle