| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2592 |
| DP2592 Complementarity of Labour Market Institutions, Equilibrium Unemployment and the Persistence of Business Cycles | |
| Michael Burda; Mark Weder | |
| 发表日期 | 2000-10-24 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | We generalize von der Fehr and Harbord's (1993) multi-unit auction model for the case of a deterministic demand allowing for any technology mix and elastic demand in order to account for demand side bidding. We obtain a general characterization of the equilibrium and show that the Cournot model overestimates market power in pool markets. We simulate the Spanish electricity pool and show that price-cost margins substantially increased with the 1996 merger that took the industry from a six firm structure to its current four firm structure. This is almost equivalent to a nearly symmetric duopoly. The introduction of demand-side bidding is not likely to change this situation. |
| 主题 | Industrial Organization |
| 关键词 | Electricity pools Bids market power |
| URL | https://cepr.org/publications/dp2592 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531660 |
| 推荐引用方式 GB/T 7714 | Michael Burda,Mark Weder. DP2592 Complementarity of Labour Market Institutions, Equilibrium Unemployment and the Persistence of Business Cycles. 2000. |
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