Imperfect Markets And Imperfect Regulation PDF Download
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Author | : Thomas-Olivier Leautier |
Publisher | : MIT Press |
Total Pages | : 413 |
Release | : 2019-03-19 |
Genre | : Business & Economics |
ISBN | : 0262039281 |
Download Imperfect Markets and Imperfect Regulation Book in PDF, ePub and Kindle
The first textbook to present a comprehensive and detailed economic analysis of electricity markets, analyzing the tensions between microeconomics and political economy. The power industry is essential in our fight against climate change. This book is the first to examine in detail the microeconomics underlying power markets, stemming from peak-load pricing, by which prices are low when the installed generation capacity exceeds demand but can rise a hundred times higher when demand is equal to installed capacity. The outcome of peak-load pricing is often difficult to accept politically, and the book explores the tensions between microeconomics and political economy. Understanding peak-load pricing and its implications is essential for designing robust policies and making sound investment decisions. Thomas-Olivier Léautier presents the model in its simplest form, and introduces additional features as different issues are presented. The book covers all segments of electricity markets: electricity generation, under perfect and imperfect competition; retail competition and demand response; transmission pricing, transmission congestion management, and transmission constraints; and the current policy issues arising from the entry of renewables into the market and capacity mechanisms. Combining anecdotes and analysis of real situations with rigorous analytical modeling, each chapter analyzes one specific issue, first presenting findings in nontechnical terms accessible to policy practitioners and graduate students in management or public policy and then presenting a more mathematical analytical exposition for students and researchers specializing in the economics of electricity markets and for those who want to understand and apply the underlying models.
Author | : Steve Cicala |
Publisher | : |
Total Pages | : 59 |
Release | : 2017 |
Genre | : Electric power production |
ISBN | : |
Download Imperfect Markets Versus Imperfect Regulation in U.S. Electricity Generation Book in PDF, ePub and Kindle
This paper measures changes in electricity generation costs caused by the introduction of market mechanisms to determine output decisions in service areas that were previously using command-and-control-type operations. I use the staggered transition to markets from 1999-2012 to evaluate the causal impact of liberalization using a nationwide panel of hourly data on electricity demand and unit-level costs, capacities, and output. To address the potentially confounding effects of unrelated fuel price changes, I use machine learning methods to predict the allocation of output to generating units in the absence of markets for counterfactual production patterns. I find that markets reduce production costs by $3B per year by reallocating output among existing power plants: Gains from trade across service areas increase by 20% based on a 10% increase in traded electricity, and costs from using uneconomical units fall 20% from a 10% reduction in their operation.
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 | : François C. Giraud-Carrier |
Publisher | : |
Total Pages | : 163 |
Release | : 2014 |
Genre | : Environmental economics |
ISBN | : |
Download Pollution Regulation and Production in Imperfect Markets Book in PDF, ePub and Kindle
Author | : Tito Boeri |
Publisher | : Princeton University Press |
Total Pages | : 704 |
Release | : 2021-01-26 |
Genre | : Business & Economics |
ISBN | : 0691208824 |
Download The Economics of Imperfect Labor Markets, Third Edition Book in PDF, ePub and Kindle
The leading textbook on imperfect labor markets and the institutions that affect them—now completely updated and expanded Today's labor markets are witnessing seismic changes brought on by such factors as rising self-employment, temporary employment, zero-hour contracts, and the growth of the sharing economy. This fully updated and revised third edition of The Economics of Imperfect Labor Markets reflects these and other critical changes in imperfect labor markets, and it has been significantly expanded to discuss topics such as workplace safety, regulations on self-employment, and disability and absence from work. This new edition also features engaging case studies that illustrate key aspects of imperfect labor markets. Authoritative and accessible, this textbook examines the many institutions that affect the behavior of workers and employers in imperfect labor markets. These include minimum wages, employment protection legislation, unemployment benefits, family policies, equal opportunity legislation, collective bargaining, early retirement programs, and education and migration policies. Written for advanced undergraduates and beginning graduate students, the book carefully defines and measures these institutions to accurately characterize their effects, and discusses how these institutions are being transformed today. Fully updated to reflect today's changing labor markets Significantly expanded to discuss a wealth of new topics, including the impact of the COVID-19 pandemic Features quantitative examples, new case studies, data sets that enable users to replicate results in the literature, technical appendixes, and end-of-chapter exercises Unique focus on institutions in imperfect labor markets Self-contained chapters cover each of the most important labor-market institutions Instructor's manual available to professors—now with new exercises and solutions
Author | : Nancy L. Rose |
Publisher | : University of Chicago Press |
Total Pages | : 619 |
Release | : 2014-08-29 |
Genre | : Business & Economics |
ISBN | : 022613816X |
Download Economic Regulation and Its Reform Book in PDF, ePub and Kindle
The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Author | : Joan Robinson |
Publisher | : Springer |
Total Pages | : 359 |
Release | : 1969-07-01 |
Genre | : Business & Economics |
ISBN | : 1349153206 |
Download The Economics of Imperfect Competition Book in PDF, ePub and Kindle
Author | : John J. Mingo |
Publisher | : |
Total Pages | : 72 |
Release | : 1977 |
Genre | : Banks and banking |
ISBN | : |
Download An Imperfect Markets Model of the Banking Firm Under Regulation Book in PDF, ePub and Kindle
Author | : Thomas-Olivier Nasser |
Publisher | : |
Total Pages | : 232 |
Release | : 1997 |
Genre | : |
ISBN | : |
Download Imperfect Markets for Power, Competition and Residual Regulation in the Electricity Industry Book in PDF, ePub and Kindle
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.