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来源类型Working Paper
规范类型报告
DOI10.3386/w6622
来源IDWorking Paper 6622
Setting the X Factor in Price Cap Regulation Plans
Jeffrey I. Bernstein; David E. M. Sappington
发表日期1998-06-01
出版年1998
语种英语
摘要Despite the popularity of price cap regulation in practice, the economic literature provides relatively little guidance on how to determine the X factor, which is the rate at which inflation -adjusted output prices must fall under price cap plans. We review the standard principles that inform the choice of the X factor, and then consider important extensions. We analyze appropriate modifications of the X factor: (1) when only a subset of the firm's products are subject to price cap regulation, and when product-specific costs and productivity cannot be measured; (2) when the pricing decisions of the regulated firm affect the economy-wide inflation rate; and (3) in the presence of structural changes in the industry, such as a strengthening of competitive forces.
主题Industrial Organization ; Regulatory Economics ; Microeconomics ; Households and Firms
URLhttps://www.nber.org/papers/w6622
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/564133
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GB/T 7714
Jeffrey I. Bernstein,David E. M. Sappington. Setting the X Factor in Price Cap Regulation Plans. 1998.
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