Search results for "Price"
showing 10 items of 428 documents
Delegated agency in multiproduct oligopolies with indivisible goods
2010
This paper focuses on oligopolistic markets in which indivisible goods are sold by multiproduct firms to a continuum of homogeneous buyers, with measure normalized to one, who have preferences over bundles of products. Our analysis contributes to the literature on delegated agency games with direct externalities and complete information, extending the insights by Berheim and Whinston (1986, a , b) to markets with indivisibilities. By analyzing a kind of extended contract schedules - mixed bundling prices - that discriminate on exclusivity, the paper shows that efficient equilibria always exist in such settings. There may also exist inefficient equilibria in which the agent chooses a subopti…
On Capturing Oil Rents with a National Excise Tax Revisited
2004
In this paper the scope of Bergstrom’s (1982) results is studied. Moreover, his analysis is extended assuming that extraction cost is directly related to accumulated extractions. For the case of a competitive market it is found that the optimal policy is a constant tariff if extraction is costless. However, with depletion effects, the optimal tariff must ultimately be decreasing. For the case of a monopolistic market the results depend crucially on the kind of strategies the importing country governments can play and on whether the monopolist chooses the price or extraction rate. For a price-setting monopolist it is shown that the importing countries cannot use a tariff to capture monopoly …
Are Energy Market Integrations a Green Light for FDI?
2015
This paper studies the effect of energy market integration (EMI) on foreign direct investment (FDI). EMIs diminish energy uncertainty and price volatility in the host country and affect FDI through two channels: first, by harmonizing energy prices and, second, by reducing price dispersion. FDI may, as a result, increase both within and outside the EMI area, through energy stability mechanisms and price mechanisms, respectively. An empirical application on a global dataset including bilateral FDI data, during 2003-2012, using the gravity equation, shows that the integration of Portugal and Spain's electricity market in 2007 increased the amount of FDI's participants. Additionally, a positive…
Theoretical and Methodological Considerations on the Public Offers
2013
This paper describes the most important characteristics of the public offers, both from the theoretical and methodological view. The European Union emphasizes clarity and transparency. The author focuses on specific provisions of European Directive and Romanian law and regulations related to voluntary and mandatory takeover bids, on characteristics such as price, offeror and offeeree right, offer timetable.
The Response of European Energy Prices to ECB Monetary Policy
2019
To our knowledge, this paper is the first to discuss the response of European energy commodity prices to unexpected monetary policy surprises from the European Central Bank (ECB). Using the Rigobon (2003) identification through heteroscedasticity method, we find a significant and positive response during the crisis period for Brent and coal. Similar results are obtained by other authors for European financial assets in this period. This result reinforces the idea that during this period, financial assets and some commodities positively responded to conventional and unconventional expansionary monetary policy measures, increasing confidence about the survival of the European monetary union. …
The risk assessment of the investments in the companies belonging to the manufacturing industry in Romania, listed on the Bucharest Stock Exchange
2018
VaR represents an advanced model of risk management, appropriate for estimating the financial risk of a financial title taken individually or of a portfolio of titles. The research aims to quantify the maximum loss of the securities value, based on their daily closing prices, at a 5% relevance level, using the historical simulation method. The research sample consists of a number of 33 companies belonging to the manufacturing industry in Romania, listed on the Bucharest Stock Exchange, at standard and premium categories. Based on a number of 260 statistical observations, corresponding to the working days from the period 01.01.2016 - 31.12.2016, it was determined the maximum loss of value fo…
Urban Water Pricing and Private Interests’ Lobbying in Small Rural Communities
2020
This research received funding from the LIFE programme of the European Commision [project LIFE16 ENV/ES/000196], the Regional Government of Andalusia and the European Regional Development Fund (projects P18-RT-576 and B-SEJ-018-UGR18) and the University of Granada (Plan Propio. Unidad Cientifica de Excelencia: Desigualdad, Derechos Humanos y Sostenibilidad -DEHUSO-).
Is it all about the price? : reasons for the small market shares of organic meat and meat products in Austria
2016
Austria is one of the leading countries in the world when it comes to organic farming. A closer look at the development of the market shares of different product categories reveals however, that some segments of organic products seemed to be constantly preferred while others were neglected by Austrian consumers over the past years: According to market statistics the categories “meat & poultry” and “ham & sausages” have the lowest market shares of organic fresh produce while at the same time, organic milk and organic eggs have the highest market shares. Since all of those organic products – milk, eggs as well as meat and meat products – are food of animal origin, for which the same organic c…
Impact of Renewables in Spanish Electricity Markets
2021
El objetivo de la presente tesis es analizar el impacto de la introducción de las energías renovables en el sistema eléctrico español. El sistema eléctrico español es elegido como ejemplo paradigmático debido al intenso crecimiento observado en las renovables en los últimos años, en especial de energía eólica. Su contenido se estructura en 3 capítulos: En el primer Capitulo, ”Effects of renewable on the stylized facts of electricity prices”, se analiza el impacto de las renovables en el precio resultante de la subasta del mercado diario (también llamado precio spot) siendo objeto de estudio no solo el comportamiento del precio en niveles, sino también sus características principales, como …
Assessing the Commodity Market Price and Terms of Trade Exposures of Macroeconomy in Emerging and Developing Countries
2021
This paper provides novel evidence on commodity market exposure, i.e., the impacts of commodity price and terms of trade fluctuations on macro performance amongst 46 emerging and developing countries (EMDCs) in Africa, Asia and the Latin American and Caribbean (LAC) region. We estimate the exposure of six macroeconomic variables to the commodity prices and terms of trade. Our results indicate that in overall terms, there is a strong and statistically significant long-run relationship between the vector of analyzed world trade prices and macro variables in all EMDCs. However, based on the short-term reactions, only about 10% of the macroeconomic variation amongst the EMDCs is due to commodit…