Cambridge Working Papers in Economics

From Faculty of Economics, University of Cambridge
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0445: From Exogenous to Endogenous Networks: Internet Applications

Alessio D'Ignazio and Emanuele Giovannetti

0444: Allocation of Carbon Emission Certificates in the Power Sector: How generators profit from grandfathered rights

Kim Keats Martinez and Karsten Neuhoff

0443: Discrete Choice Models in Preference Space and Willingness-to Pay Space

Kenneth Train and Melvyn Weeks

0442: Integrating Energy Markets: Does Sequencing Matter?

Karsten Neuhoff and David M Newbery

0441: Cost of Capital and Regulator’s Preferences: Investigation into a new method of estimating regulatory bias

Alessio Sancetta and Steve Satchell

0440: Incentive Aspects of Revenue Sharing: Central and Regional Government in Russia

Alexander Plekhanov

0439: Electricity Sector Reform in Developing Countries: A Survey of Empirical Evidence on Determinants and Performance

Tooraj Jamasb, Raffaella Mota, David M Newbery and Michael Pollitt

0438: Core Indicators for Determinants and Performance of Electricity Sector in Developing Countries

Tooraj Jamasb, David M Newbery and Michael Pollitt

0437: When Can School Inputs Improve Test Scores?

Jishnu Das, Stefan Dercon, James Habyarimana and Pramila Krishnan

0436: Religion and Fertility in India: The role of son preference and daughter aversion

Vani Borooah and Sriya Iyer

0435: General Diagnostic Tests for Cross Section Dependence in Panels

Mohammad Pesaran

0434: Random Coefficient Panel Data Models

Cheng Hsiao and Mohammad Pesaran

0433: Forecasting Time Series Subject to Multiple Structural Breaks

Mohammad Pesaran, Davide Pettenuzzo and Allan Timmermann

0432: Real Time Econometrics

Mohammad Pesaran and Allan Timmermann

0431: UK domestic energy contracts, the 28 day rule, and experience in Sweden

Stephen Littlechild

0430: Retail Electricity Competition

Paul Joskow and Jean Tirole

0429: Sources of Emission Reductions: Evidence for US SO2 Emissions 1985-2002

A. Denny Ellerman and Florence Dubroeucq

0428: Insufficient Incentives for Investment in Electricity Generation

Karsten Neuhoff and Laurens de Vries

0427: Estimation of Discrete Choice Models Using DCM for Ox

Matias Eklöf and Melvyn Weeks

0426: ‘Mobile Termination Charges: Calling Party Pays versus Receiving Party Pays’(original and revised versions)

Stephen Littlechild

0425: Did English Generators Play Cournot? Capacity Withholding in the Electricity Pool

Richard Green

0424: Definition of a Balancing Point for Electricity Transmission Contracts

Luis Olmos and Karsten Neuhoff

0423: Comparing Brazil and USA electricity performance; what was the impact of privatisation?

Raffaella L. Mota

0422: Regulatory Issues in Merchant Transmission Investment

Gert Brunekreeft

0421: Minority Opinion and Herd Behaviour

Daniel Sgroi

0420: Business Failure in UK and US Quoted Firms: Impact of Macroeconomic Instability and the Role of Legal Institutions

Arnab Bhattacharjee, Chris Higson, Sean Holly and Paul Kattuman

0419: Complexity and Efficiency in Repeated Games and Negotiation

Jongsu Lee and Hamid Sabourian

0418: Distributing Awards Efficiently: More on King Solomon’s Problem

Parimal Bag and Hamid Sabourian

0417: Social Capital and Collusion: The Case of Merchant Guilds

Roberta Dessi and Sheilagh Ogilvie

0416: Gains and Losses from Tax Competition with Migration

Seppo Honkapohja and Arja Turunen-Red

0415: Sen’s Capability Approach to Welfare Economics

Wiebke Kuklys and Ingrid Robeyns

0414: Identifying and Interpreting Convergence Clusters Across Europe

Luisa Corrado, Ronald Martin and Melvyn Weeks

0413: Existence of Equilibria and Core Convergence in Economies with Bads

Chiaki Hara

0412: Modelling corporate tax liabilities using company accounts: a new framework

Saeed Ahmed

0411: How Transparent Are Central Banks?

Sylvester Eijffinger and Petra Geraats

0410: Regulated and merchant interconnectors in Australia: SNI and Murraylink revisited

Stephen Littlechild

0409: Border Tax Adjustments: A feasible way to address nonparticipation in Emission Trading

R. Ismer and Karsten Neuhoff

0408: Benchmarking and incentive regulation of quality of service: an application to the UK electricity distribution utilities

D. Giannakis, Tooraj Jamasb and Michael Pollitt

0407: Recent blackouts in US and continental Europe: is liberalisation to blame?

J. W. Bialek

0406: Retail Competition and Electricity Contracts

Richard Green

0405: Network-constrained models of liberalized electricity markets: the devil is in the details

J. Barquin, M. G. Boots, A. Ehrenmann, Benjamin Hobbs, Karsten Neuhoff and F. A. M. Rijkers

0404: Policy Compromises: Corruption and Regulation in a Dynamic Democracy

Toke Aidt and Jayasri Dutta

0403: Strategic Consensus

Toke Aidt and Jayasri Dutta

0402: Econometric Issues in the Analysis of Contagion

Mohammad Pesaran and Andreas Pick

0401: A Simple Test for the Absence of Covariate Dependence in Duration Models

Arnab Bhattacharjee

0348: A Bayesian Confidence Interval for Value-at-Risk

Patricio Contreras and Stephen Satchell

0347: On The Panel Unit Root Tests Using Nonlinear Instrumental Variables

Kyung So Im and Mohammad Pesaran

0346: A Simple Panel Unit Root Test in the Presence of Cross Section Dependence

Mohammad Pesaran

0345: Complexity and Competition, Part I: Sequential Matching

Douglas Gale and Hamid Sabourian

0344: Policy Myopia

Toke Aidt, Jayasri Dutta and Elena Loukoianova

0343: Online Price Dispersion Within and Between Seven European Countries

J. Rupert J. Gatti and Paul Kattuman

0342: The Cutting Edge of Modernity: Machine Tools in the United States and Germany 1930-1945

Cristiano A. Ristuccia and J. Adam Tooze

0341: A Comparison of Electricity Market Designs in Networks

Andreas Ehrenmann and Karsten Neuhoff

0340: Market-based Investment in Electricity Transmission Networks: Controllable Flow

Gert Brunekreeft

0339: Using Neural Networks to Model Bounded Rationality in Interactive Decision-Making

Daniel Sgroi

0338: Scope for Cost Minimization in Public Debt Management: the Case of the UK

Patrick Coe, Mohammad Pesaran and Shaun Vahey

0337: Estimation in Hazard Regression Models under Ordered Departures from Proportionality

Arnab Bhattacharjee

0336: Distributed Generation versus Centralised Supply: a Social Cost-Benefit Analysis

Francesco Gullì

0335: The Superiority of Tough Reviewers in a Model of Simultaneous Sales

David Gill and Daniel Sgroi

0334: Product Launches with Biased Reviewers: The Importance of Not Being Earnest

David Gill and Daniel Sgroi

0333: A Loss Aversion Performance Measure

Nathalie Farah and Stephen E. Satchell

0332: Estimating Market Power in the Internet Backbone Using Band-X data

Emanuele Giovannetti and Cristiano A. Ristuccia

0331: Small Sample Properties of Forecasts from Autoregressive Models under Structural Breaks

Mohammad Pesaran and Allan Timmermann

0330: Macroeconomic Dynamics and Credit Risk: A Global Perspective

Mohammad Pesaran, Til Schuermann, Björn-Jakob Treutler and Scott M. Weiner

0329: Bayesian Estimation of Risk-Premia in an APT Context

Theofanis Darsinos and S.E. Satchell

0328: The Difficult Transition to Competitive Electricity Markets in the U.S

Paul Joskow

0327: Diagnosing and Mitigating Market Power in Chile’s Electricity Industry

M. Soledad Arellano

0326: Why did British Electricity Prices Fall after 1998?

Joanne Evans and Richard Green

0325: Lessons form Phase 2 Compliance with the US Acid Rain Program

A. Denny Ellerman

0324: Merchant Transmission Investment

Paul Joskow and Jean Tirole

0323: The Irrelevance of Trade Union Recognition? A Comparison of Two Matched Companies

William Brown and Paul Ryan

0322: Markov Equilibria in Dynamic Matching and Bargaining Games

Douglas Gale and Hamid Sabourian

0321: Endogenous Correlation

J.-H. Steffi Yang and Steve E. Satchell

0320: Nonparametric Estimation of Multivariate Distributions with Given Marginals

Alessio Sancetta

0319: Changing Correlation and Portfolio Diversification Failure in the Presence of Large Market Losses

Alessio Sancetta and Steve E. Satchell

0318: Capital Taxation and Electoral Accountability

Toke Aidt and Francesco Magris

0317: Assessing the efficient cost of sustaining Britain’s rail network: perspectives based on Zonal comparisons

John Kennedy and Andrew Smith

0316: Welfare Impacts of Electricity Generation Sector Reform in the Philippines

Natsuko Toba

0315: Cross-Border Trade: A Two-Stage Equilibrium Model of the Florence Regulatory Forum Proposals

O. Daxhelet and Y. Smeers

0314: Introducing Competition in the French Electricity Supply Industry: The Destabilisation of a Public Hierarchy in an Open Institutional Environment

Dominique Finon

0313: Nordic Electricity Congestion's Arrangement as a Model for Europe: Physical Constraints or Operators' Opportunity

Jean-Michel Glanchant and Virginie Pignon

0312: Strategic Behaviour under Regulation Benchmarking

Tooraj Jamasb, Paul Nillesen and Michael Pollitt

0311: Transmission Pricing of Distributed Multilateral Energy Transactions to Ensure System Security and Guide Economic Dispatch

Marija Ilic, Eric Hsieh and Prasad Remanan

0310: Integrating Transmission and Energy Markets Mitigates Market Power

Karsten Neuhoff

0309: The Restructuring and Privatisation of Electricity Distribution and Supply Business in Brazil: A Social Cost-Benefit Analysis

Raffaella L. Mota

0308: Non-nested Models and the likelihood Ratio Statistic: A Comparison of Simulation and Bootstrap-based Tests

George Kapetanios and Melvyn Weeks

0307: ‘How Different is Wireless Access? Implications for Internet Mergers

Emanuele Giovannetti

0306: How Costly is it to Ignore Breaks when Forecasting the Direction of a Time Series?

Mohammad Pesaran and Allan Timmermann

0305: Estimation and Inference in Large Heterogeneous Panels with Cross Section Dependence

Mohammad Pesaran

0304: Market-induced Asset Specificity: Redefining the Hold-up Problem

Shira Lewin-Solomons

0303: On the Interaction of Monetary and Fiscal Policy

Jagjit Chadha and Charles Nolan

0302: Cyclical Components in Economic Time Series: a Bayesian Approach

Andrew Harvey, Thomas Trimbur and Herman van Dijk

0301: Multivariate Unit Root Tests and Testing for Convergence

Andrew Harvey and David Bates

0237: Testing for Drift in a Time Series

Fabio Busetti and Andrew Harvey

0236: Unions: Rent Extractors or Creators?

Toke Aidt and Vania Sena

0235: A Real Time Tax Smoothing Based Fiscal Policy Rule

Elena Loukoianova, Shaun Vahey and Elizabeth Wakerly

0234: Auctions to gas transmission access: The British experience

Tanga McDaniel and Karsten Neuhoff

0233: Auctions and trading in energy markets -- an economic analysis

David M Newbery and Tanga McDaniel

0232: Technical efficiency in electricity generation - the impact of smallness and isolation of island economies

Preetum Domah

0231: The Temporal Efficiency of SO2 Emissions Trading

A. Denny Ellerman and Juan-Pablo Montero