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| Registros recuperados: 75 | |
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| Fowlie, Meredith; Perloff, Jeffrey M.. |
| According to the Coase theorem, if property rights to pollute are clearly established and emissions markets nearly eliminate transaction costs, the market equilibrium will be independent of how the permits are initially allocated across firms. Using panel data from Southern California's RECLAIM program, we find that initial allocations are a statistically significant determinant of firm-level emissions. This relationship between allocation and emissions is stronger among firms with relatively high transaction costs. Thus, care must be exercised in the initial allocation of permits to ensure efficiency. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Emissions trading; Transaction costs; Environmental Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/25116 |
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| Golan, Amos; Judge, George G.; Perloff, Jeffrey M.. |
| Using a maximum entropy technique, we estimate the market shares of each firm in an industry using the available government summary statistics such as the four-firm concentration ratio (C4) and the Herfindahl-Hirschmann Index (HHI). We show that our technique is very effective in estimating the distribution of market shares in 20 industries. Our results provide support for the recent practice of using HHI rather than C4 as the key explanatory variable in many market power studies, if only one measure is to be used. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Industrial Organization; Marketing. |
| Ano: 1995 |
URL: http://purl.umn.edu/25081 |
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| Golan, Amos; Perloff, Jeffrey M.; Wu, Ximing. |
| The minimum wage, unlike most government transfer programs, lowered welfare in the 1980s and 1990s as measured by all commonly used welfare or inequality measures, including various Atkinson indexes, the Gini index, standard deviation of logarithms, and others. The effects of most government programs, macroeconomic variables, and aggregate demographic characteristics were qualitatively the same for all the inequality measures. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital. |
| Ano: 2001 |
URL: http://purl.umn.edu/25123 |
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| Berck, Peter; Brown, Jennifer; Perloff, Jeffrey M.; Villas-Boas, Sofia Berto. |
| Modern theories of sales make conflicting predictions about the temporal pattern of sales, which we test using grocery scanner data. We examine both frozen orange juice, which consumers can store, and refrigerated orange juice, which is more perishable, to determine what role—if any—durability plays in the pattern of sales. We start with a simple reduced-form probit analysis to examine the timing of sales and whether sales are determined nationally by manufacturers or locally by retailers. We then turn to a vector autoregressive analysis and conduct Granger tests of temporal ordering (“causality tests”) to determine whether the sale of one brand is followed in a predictable way by the sale of another brand or its own later sales. Based on the VAR... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Consumer/Household Economics. |
| Ano: 2007 |
URL: http://purl.umn.edu/7165 |
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| Berck, Peter; Perloff, Jeffrey M.. |
| How potential entrants to an open-access fishery form their expectations determines the fishery’s adjustment path to a steady state but not the steady state values themselves. It is well known that, in the standard model with myopic expectations (those based on current values), boats enter the fishery only when the fish stock is greater than its steady state stock. We show that, with rational expectations (perfect foresight), however, boats may enter when the fish stock is much lower than its steady state value if the boat fleet is sufficiently small. This paper contrasts myopic and rational expectations within a general dynamic model of an open-access fishery. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Economic aspects; Expectations; Fisheries. |
| Ano: 1982 |
URL: http://purl.umn.edu/42856 |
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| Registros recuperados: 75 | |
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