duopolistic vertical restraints abstract in an industry where competition exists at the wholesale level vertical restraints are not necessarily desirable from the standpoint of the manufacturers when vertical restraints are employed it is never in the form of retail price maintenance but rather in the form of franchise fee pricing when the products produced by the manufacturers are only slightly differentiated the producers may benefit from the double marginalization that arises with linear pricing such double marginalization results in higher retail prices which relieve competitive pressures

public prioritisation of energy affordability in the uk much research has focused on the so called energy trilemma i e three leading energy policy issues energy security affordability and climate change mitigation whilst substantial understanding exists of why people support climate friendly energy policies little is known about why they think affordability is important particularly what leads members of the public to identify this policy goal as more important than other objectives here we examine this question via a nationally representative survey of 2441 uk residents and demonstrate that concerns about personal costs explain a small amount of variation in the prioritisation of affordability as an energy policy goal a range of other factors also significantly contribute one such factor is beliefs about who is responsible for energy transitions these findings suggest policy actions to address affordability concerns should go beyond energy prices and include additional considerations such as distributive justice and equality

precommitment in competing vertical chains the design of distribution channels is an important marketing decision since a revision implies costly reorganization hence it makes sense to study strategic motives of alternative distribution devices a precommitment is a strategic move that affects the other players expectations on how oneself will behave and thus induces them to choose in one s own favor schelling 1960 how these tactics can be used by firms to favorably influence competition between vertical chains is the topic of the literature reviewed in this survey jel classification l22 l42 l81

a three regime real time indicator for the us economy this note proposes a monthly real time cyclical indicator for the us economy computed through a three regime multivariate markov switching model the model specification is based on the reconciliation of the concepts of growth and business cycles d 2003 elsevier b v all rights reserved

the role of exclusive territories in producers competition reprinted in cartels stephen salant ed the international library of critical writings in economics edward elgar reference collections

detrending and turning points this paper examines the sensitivity of turning points classification to different detrending methods and the ability of each method to replicate nber dating we use two different turning point rules and a variety of detrending methods to compute the cyclical component of output we show that while differences are minor with the first rule the results are extremely sensitive to detrending with the second rule many detrending procedures generate false alarms and many miss several commonly classified turning points the output series detrended with the hodrick and prescott filter and with a frequency domain masking of the low frequency components of the series reproduce all nber turning points with at most two quarters lead or lag regardless of the dating rule used

the hodrick prescott filter the slutzky effect and the distortionary effect of filters abstract i construct a metric based on optimal filtering for measuring the distortionary effect of business cycle filters the distortionary effect of a filter depends both on the power transfer function of the filter and on the spectrum of the filtered time series the metric is used for two purposes first to determine the optimal value of the smoothing parameter in the hodrick prescott filter hp filter secondly to measure the size of distortions of ten different filters the slutzky effect is a special case of a more general pattern of distortions and it is shown that the alleged slutzky effect of the hp filter is due to an insufficient distinction between the effect of filtering with an ideal high pass filter and the distortionary effect of the hp filter

new frontiers and conceptual frameworks for energy justice this article explores how concepts from justice and ethics can inform energy decision making and highlight the moral and equity dimensions of energy production and use it defines energy justice as a global energy system that fairly distributes both the benefits and burdens of energy services and one that contributes to more representative and inclusive energy decision making the primary contribution of the article is its focus on six new frontiers of future energy justice research first is making the case for the involvement of non western justice theorists second is expanding beyond humans to look at the rights of nature or non anthropocentric notions of justice third is focusing on cross scalar issues of justice such as embodied emissions fourth is identifying business models and the co benefits of justice fifth is better understanding the tradeoffs within energy justice principles sixth is exposing unjust discourses in doing so the article presents an agenda constituted by 30 research questions as well as an amended conceptual framework consisting of ten principles the article argues in favor of justice aware energy planning and policymaking and it hopes that its reconsidered energy justice conceptual framework offers a critical tool to inform decision making

in pursuit of energy justice abstract energy justice provides a framework to perceive disparities in our energy system the foundation of energy justice draws heavily from the environmental justice movement grounded in larger issues of representation economic relations between the state firms and social groups this article draws from the environmental justice movement to explore concepts of universal and particular justice universal energy justice holds to values stemming from judicial and philosophical groundings based in procedural distributional and cosmopolitan justice issues particular energy justice relies on recognition justice of cultural and environmental factors influencing choices around energy technologies and policy preferences for the distribution of energy services empirically this article examines tensions within the energy system in the european union it does this in two areas first by examining how universal energy justice is spread through national regulatory authorities nras dealing with energy second particular energy justice is exemplified by a political solution to energy poverty in bulgaria rather than a regulatory response this contrasts with a western european approach the aim of the article is to show the pursuit of energy justice attempts to resolve tensions between groups and differing politics to both access and provide energy services

measuring the temporal dynamics of policy mixes an empirical analysis of renewable energy policy mixes balance and design features in nine countries abstract complex societal or environmental problems require fast and substantial socio technical transitions for instance in the case of climate change these transitions need to take place in the energy transport and several industry sectors to induce and accelerate such transitions numerous policy interventions are required which interact with each other in policy mixes while several conceptual studies on policy mixes have been published recently there is very little empirical research apart from single case or small n studies it has been prominently argued that the debate about policy mixes has reached an impasse partly due to this lack of empirical work this paper addresses this gap by providing a first analysis of the temporal dynamics of complex policy mixes to do so we develop a conceptualization and measurement of policy mix balance across instrument types as well as policy mix design features in the form of intensity as a general and technology specificity as a technology focused design feature this allows us to answer the question how temporal dynamics of policy mixes differ between countries regarding their balance and design features our measurement approach is developed bottom up i e policies are assessed individually and then aggregated systematically at the policy mix level this enables overcoming the dependent variable problem in the study of policy change i e the problem of measuring policy output more specifically we develop a comparative dataset of 522 renewable energy policies in nine oecd countries our analysis shows that countries policy mix dynamics vary strongly regarding some variables e g technology specificity but less regarding others e g balance as a validity check we also test the effects of these mix dynamics on policy outcome in the form of renewable energy technology diffusion we reflect our findings in light of the theoretical debates around policy mixes and policy design and discuss how our results provoke an agenda for the new generation of research on policy mixes we specifically discuss avenues for future research with a particular focus on the politics of policy mixes

exploring participatory energy budgeting as a policy instrument to foster energy justice abstract the ethical and sustainable production and consumption of energy are becoming increasingly important with the ongoing transformation and decentralization of the energy system for other kinds of goods and commodities ethical consumption have direct implications for and the participation of informed citizens due to its intangibility energy lacks the same levels of reflection and intervention by citizens and those aspects are yet to be fully explored in practice this paper contributes to the understanding of how energy justice might be approached we reflect on an empirical experience of participatory energy budgeting a process aimed at determining how to redistribute a share of energy linked to collective virtuous consumption behaviors we analyze through a qualitative thematic analysis how participants make sense of the participatory energy budgeting process and the emerged dynamics within the local communities and how this process can strive to reconfigure the relationship among civil society the energy sector and politics in order to remediate injustices we highlight how the construction in practice of energy justice in a local community might be closely linked to issues such as the form of energy governance that allows for the participation of citizens and the accountability of the process policies and technological limitations

international evidence on the historical properties of business cycles we contrast properties of real quantities with those of price levels and stocks of money for ten countries over the last century although the magnitude of output fluctuations has varied across countries and periods relations among real quantities have been remarkably uniform properties of price levels however exhibit striking differences between periods inflation rates are more persistent after world war ii than before and price level fluctuations are typically procyclical before world war ii and countercyclical afterward fluctuations in money are less highly correlated with output in the postwar period but are no more persistent than in earlier periods jel e32 e31

trade shocks and macroeconomic fluctuations in africa this paper examines the role of external shocks in explaining macroeconomic fluctuations in african countries we construct a quantitative stochastic dynamic multi sector equilibrium model of a small open economy calibrated to represent a typical african economy in our framework external shocks consist of trade shocks modeled as fluctuations in the prices of exported primary commodities imported capital goods and intermediate inputs and a financial shock modeled as fluctuations in the world real interest rate our results indicate that while trade shocks account for roughly 45 percent of economic fluctuations in aggregate output financial shocks play only a minor role we also find that adverse trade shocks induce prolonged recessions

practices and imaginations of energy justice in transition a case study of the noordoostpolder the netherlands abstract renewable energy technologies are often idealized as environmentally innocent alternatives to fossil fuels fossil fuel extraction is often considered as unjust and renewable energy as the just alternative at the same time renewable energy projects such as wind parks are often resisted because of the uneven impacts of its infrastructure this paper analyses such ambiguous meanings of energy justice social justice issues related to energy along the lines of its three tenets distributional procedural and recognition justice aiming to understand how energy justice is constructed from below it does so on the basis of a case study in the noordoostpolder the netherlands where plans for extracting shale gas went together with both large scale and small scale renewable energy practices the paper analyses how energy justice is made by how people resist shale gas and engage in renewable energy practices and as such produce new imaginations and normativities of energy justice such an ethnographic approach helps to understand energy justice as a process of co construction of activists policy makers and scholars and as such responds to recent calls for a human centred approach to the study of energy transitions the paper is based on two and a half years of ethnographic fieldwork in the noordoostpolder

do slotting allowances harm retail competition slotting allowances are fees paid by manufacturers to get access to retailers shelf space both in the usa and europe the use of slotting allowances has attracted attention in the general press as well as among policy makers and economists one school of thought claims that slotting allowances are efficiency enhancing while another school of thought maintains that slotting allowances are used in an anti competitive manner in this paper we argue that this controversy is partially caused by inadequate assumptions of how the retail market is structured and organized using a formal model we show that there are good reasons to expect anti competitive effects of slotting allowances we further point out that competi tion authorities tend to use an unsatisfactory basis for comparison when analyzing welfare consequences of slotting allowances

fuel poverty excess winter deaths and energy costs in vermont burdensome for whom energy whether from electricity natural gas heating oil propane kerosene or wood is essential for the well being of many americans yet those who spend more than 10 percent of their income of energy services can be considered fuel poor this study assesses the extent and severity of fuel poverty in vermont it analyzes energy burdens in vermont by household income deciles using data from the census bureau s american community survey approximately 71 000 people suffered from fuel poverty in vermont in 2000 and in 2012 the number rose to 125 000 or one in five vermonters startlingly fuel poverty grew 76 percent during this period excess winter deaths caused potentially by fuel poverty kill more vermonters each year than car crashes the article then provides 12 policy recommendations based on a small sample of elite semi structured research interviews these include suggestions that the vermont legislature better fund investments in weatherization among low income households that community groups and social service agencies scale up the training of energy efficiency coaches that state agencies endorse improvements in housing efficiency and appropriate fuel switching and that utilities and fuel providers offer extra assistance for disconnected households and allow for on bill financing of efficiency improvements

attributing responsibility for energy justice a case study of the hinkley point nuclear complex since 2006 as part of the transition to low carbon technologies uk energy policy has moved towards incentivising new nuclear power production as a result the uk has developed a now delayed strategy to deliver around 16gw of new nuclear power by 2030 this policy context provides an opportunity to reflect not only on the material infrastructure needed to meet transition targets but also on who is responsible for the energy justice implications of these decisions using data collected from 26 semi structured interviews with ngo and policy representatives this paper presents a case study of energy justice concerns surrounding the hinkley point nuclear complex in somerset focusing particularly on the highly controversial hinkley point c developments the results emphasise the importance of considering not only instances of energy justice or injustice but of attributing responsibility for them a concept that has been largely overlooked in the energy justice literature ngos government and business allocate responsibility differently in nuclear energy decision making we find that perceptions of responsibility are highly dependent upon the level of transparency in decision making this article is part of a virtual special issue entitled exploring the energy justice nexus

vertical restraints and producers competition this paper examines the rationale for vertical restraints it shows that there are important circumstances under which these restrictions have significant anti competitive effects the paper focuses on the consequences of exclusive territorial arrangements among the retailers of two products which are imperfect substitutes such arrangements are shown to increase consumer prices under plausible conditions the increase in consumer prices is sufficiently large to more than offset the deleterious effects from double marginalization resulting from reduced competition among retailers the imposition of exclusivity provisions is may be part of a nash equilibrium among producers these results hold whether there are or are not franchise fees this abstract was borrowed from another version of this item this abstract was borrowed from another version of this item this abstract was borrowed from another version of this item this abstract was borrowed from another version of this item this abstract was borrowed from another version of this item

the price of launching a new product empirical evidence on factors affecting the relative magnitude of slotting allowances slotting allowances are a relatively recent trend particular to the retail food industry these allowances are lump sum up front transfer payments from manufacturer to retailer when the manufacturer launches a new product the practice has attracted some scrutiny because of uncertainty about its purposes and consequences we draw from the extant literature to identify factors that potentially influence the relative magnitude of slotting allowances based on analysis of primary survey data from retailers and manufacturers we observe that charging and paying of slotting allowances are affected by the relative strength of the players among retailers the relative magnitude of slotting fees increases with retailers informational advantage over the manufacturer about the likely success of the new product even when retailers recognize that the product is likely to be successful additionally and consistent with the first finding retailers with lower costs i e potentially more efficient and powerful retailers received higher slotting allowances furthermore retailers charge higher slotting fees even when concerns about manufacturers fulfilling postlaunch advertising commitments are minimal implying that relatively powerless manufacturers are asked to provide credible commitments regarding postlaunch activitiesand are asked to pay relatively high slotting fees among manufacturers the relative magnitude of slotting fees paid is lower for those who have a strong market share position we discuss the theoretical managerial and public policy implications of our findings

dissecting the cycle a methodological investigation following burns and mitchell we define the cycle as a pattern in the level of aggregate economic activity an algorithm to locate turning points is developed as is a new measure of pro cyclicality a link between turning points and the moments of the series is established thereby providing the statistical foundation that burns and mitchell s work lacked using these tools we are able to dissect cycles in terms of the contributions made by trend growth volatility serial correlation and non linear effects we dissect several models and find little evidence that certain non linear effects are important to the nature of business cycles

business cycles for g7 and european countries this article proposes classical business cycle turning points for the g7 and a number of european countries based on industrial production this enables the authors to examine the international nature of cyclical movements free from arbitrary assumptions about the trend in particular they show that cyclical assymetry is common with slopes during declines being generally larger in magnitude than during expansions a binary measure of association for expansion and contradiction regimes indicates a core group of european countries related to each other and apparently linked to the united states and japan through germany copyright 1997 by university of chicago press

demand signalling and screening in channels of distribution this paper examines two ways channel members at the manufacturing and retail ends deal with asymmetric information in the context of new product introduction a manufacturer who has private information that demand for a new product will be high can differentiate itself from a manufacturer less confident of demand by undertaking high levels of pre launch advertising and offering a high wholesale price a retailer for its part can screen potentially high demand from potentially low demand products by stipulating a take it or leave it slotting allowance the assumption being that the offer will be accepted only by manufacturers confident of sufficient demand to recover the high initial cost of slotting allowances it is shown that manufacturers prefer to signal demand through advance advertising and wholesale price retailers to screen demand through slotting allowances it is shown that unless advance advertising is sufficiently effective slotting allowances yield higher total channel profits and higher social welfare

measuring the chinese business cycle this article documents the business cycle characteristics of the chinese economy by adopting both nonparametric and parametric methodologies the two approaches are applied to relevant macroeconomics indicators gross domestic product gdp and industrial production ip indices aiming to investigate the growth cycle deviation cycle we provide a clear chronology of the chinese growth cycle one significant characteristic of the chinese growth cycle is the relatively direct influence of government policies however recently these policy effects have become less significant when compared to global economic influences our study provides an enhanced understanding of the properties of business cycle dating algorithms and as such contributes to future chinese business cycle research

exclusion via non exclusive contracts we establish that non linear vertical contracts can allow an incumbent to exclude an upstream rival in a setting that does not rely on the exclusivity of the incumbent s contracts with downstream firms or any limits on distribution channels available to the incumbent or rival the optimal contract we describe is a three part quantity discounting contract that involves the payment of an allowance to a downstream distributor and a marginal wholesale price below the incumbent s marginal cost for sufficiently large quantities the optimal contract is robust to allowing parties to renegotiate contracts in case of entry l exclusion par le biais des contrats non exclusifs nous etablissons que des contrats verticaux non lineaires peuvent permettre a un titulaire d exclure un rival en amont dans un cadre qui ne de pend pas de l exclusivite des contrats du titulaire avec les entreprises en aval ou des limites sur les canaux de distribution disponibles pour le titulaire ou un rival le contrat optimal que nous decrivons est un contrat de rabais en trois parties base sur la quantite pre voyant le versement d une indemnite a un distributeur en aval et un prix de gros marginal inferieur au cout marginal de l operateur historique pour des quantites suffisamment importantes le contrat optimal est robuste si on permet aux parties de renegocier les contrats en cas d entree

unequal resilience the duration of electricity outages abstract the resilience of social biophysical and technological systems is of increasing scholarly and practical import guided by scholarship on disaster resilience environmental inequality and urban service inequality we advance the study of unequal resilience in a critical infrastructure the electric grid we analyze inequality in electricity outage duration at the census block group level using data from the u s census the u s geological survey and a u s electrical utility s database of power outages from 2002 to 2004 our intersectional approach identifies a factor variable of american indian disadvantage as a correlate of average outage duration suggesting possible support for an institutional bias hypothesis however spatial error regression models demonstrate that unequal resilience within our study area is most consistently explained by proximity to priority assets i e hospitals average downstream customers affected by outages and environmental conditions i e the seasonality of outages these results are consistent with existing research on utilities response to power outages and more broadly with the bureaucratic decision rules perspective on service inequalities we discuss the implications of our findings for future research and energy policy

retailer power recent developments and policy implications retailing is big business ranking firms by revenue retailing includes belgium s largest company delhaize le lion tesco and j sainsbury from the uk top ten the giant metro group in germany and wal mart stores number four in the usa and the eighth largest company in the world with 119 billion turnover and 825 000 employees fortune 3 8 98 retailing is getting more concentrated over time the top ten grocers in europe were 28 of the market in 1992 but 36 by 1997 1 the behaviour of retailers matters for consumers cross country studies of pricing for near identical products e g cars televisions compact discs branded sportswear groceries find big differences between prices across european countries and between europe and the usa 2 the european commission is to start examining why europeans pay substantially more on average than us consumers

resolving society s energy trilemma through the energy justice metric carbon dioxide emissions continue to increase to the detriment of society in many forms one of the difficulties faced is the imbalance between the competing aims of economics politics and the environment which form the trilemma of energy policy this article advances that this energy trilemma can be resolved through energy justice energy justice develops the debate on energy policy to one that highlights cosmopolitanism progresses thinking beyond economics and incorporates a new futuristic perspective to capture these dynamics of energy justice this research developed an energy justice metric ejm that involves the calculation of several metrics 1 a country national ejm 2 an ejm for different energy infrastructure and 3 an ejm which is incorporated into economic models that derive costs for energy infrastructure projects an ejm is modeled for china the european union and the united states and for different energy infrastructure in the united kingdom the ejm is plotted on a ternary phase diagram which is used in the sciences for analyzing the relationship trilemma of three forms of matter the development of an ejm can provide a tool for decision making on energy policy and one that solves the energy trilemma with a just and equitable approach

energy justice at the end of the wire enacting community energy and equity in wales energy justice has emerged as a useful lens for understanding and guiding energy decision making however whilst calls for greater energy justice have grown fleeting attention has been paid to the role and agency of the very people at the heart of this agenda clearly given the increasing prevalence of local energy initiatives such projects warrant more sustained focus both to explore how energy justice is constructed between settings and to prompt greater consideration of its associated outcomes this paper seeks to address this gap by using energy justice to assess local ownership of small scale energy generation through a study of the community energy sector in wales in so doing it aids greater understanding of the energy equity dimension understood in terms of accessibility and affordability of the energy trilemma from a conceptual standpoint the research examines how energy justice is negotiated and contested at community scale through a focus on issues of distributive and procedural justice from a policy standpoint the research shows that community energy is often involved in a wide range of local objectives and directs attention to how best to support such initiatives to further stimulate local action and deliver more widespread equity gains

countervailing power and consumer prices this paper considers the importance of countervailing power manifested as the effects of increased retail concentration on consumer prices and welfare within a market setting where imperfectly competitive retailers negotiate intermediate prices with a monopoly supplier only when retailer services are regarded as very close substitutes do final prices fall following a reduction in the number of retailers even in these circumstances the social benefits of countervailing power may not be realised as the supplier may seek to protect its profits by using a refusal to supply restraint to engage in exclusive trading

macroeconomic fluctuations in developing countries some stylized facts this paper documents the main stylized features of macroeconomic fluctuations and business cycle regularities for a group of 12 developing countries cross correlations between domestic industrial output and a large group of macroeconomic time series including government revenue and expenditure wages inflation money velocity private sector credit international trade and exchange rates are presented the effects of industrial country economic conditions on output fluctuations in these countries are also analyzed the robustness of the results is examined using three detrending procedures a modified hodrick prescott filter the baxter king band pass filter and a nonparametric technique overall the results show some similarities between macroeconomic fluctuations in developing and industrial countries e g procyclical real wages and counter cyclical variation in government expenditure but also some important differences in business cycle characteristics e g countercyclical variation in the velocity of monetary aggregates

business cycles under monetary union a comparison of the eu and us reserve districts in the usa and the 15 countries that make up the eu the comparison is suggestive of what might be expected to emerge in the way of business cycle synchronization from a monetary union between the member states of the eu now simply non decimal denominations of the euro and the national central banks of the 11 are branches of the european system of central banks many prominent observers doubted that europe would ever reach this stage and many continue to believe that monetary union between such a large and dispar ate group of countries is fundamentally unsound a key element in the argu ments of many critics of emu is the degree of business cycle asynchronicity between the member states of the eu this paper contributes to the ongoing debate by documenting key differences and similarities between business cycles in the eu and business cycles in the 12 federal reserve districts in the united states the practice of looking to the us experience for insights into the problems and functioning of a monetary union has a long precedent in the literature on fixed exchange rates in general and in the literature on emu in particular for example in making an argument for fixed exchange rates rolnick and weber 1994 note that the usa can be viewed as having a system of fixed exchange rates between currencies issued by the 12 regional federal reserve banks they argue that the notes issued by the 12 banks are not strictly ident ical and that the difference between the notes creates the possibility that the united states could have a system of floating exchange rates among the 12 federal reserve districts 1 rolnick and weber go on to examine the features of the relationship among the 12 regional federal reserve banks that make a system of fixed exchange rates between them feasible in the process drawing lessons for how a monetary union among the countries of the eu might work the analysis in this paper complements earlier analyses in a number of ways the resurgence of interest in business cycle research over the past 20

buyer power from joint listing decision we consider a model of vertically related markets in which an upstream firm faces a competitive fringe of less efficient suppliers and negotiates with customers that compete in a downstream market we allow downstream firms to form a buyer group which selects suppliers on behalf of its members we show that transforming individual listing decisions into a joint listing decision makes delisting less harmful for a group member which in turn enhances the group members bargaining position at the expense of the upstream firm we also discuss the implication for upstream investment incentives

the application of contrast explanation to energy policy research uk nuclear energy policy 2002 2012 abstract this paper advances the application of the methodology contrast explanation to energy policy research research in energy policy is complex and often involves inter disciplinary work which traditional economic methodologies fail to capture consequently the more encompassing methodology of contrast explanation is assessed and its use in other social science disciplines explored in brief it is then applied to an energy policy research topic in this case nuclear energy policy research in the uk contrast explanation facilitates research into policy and decision making processes in energy studies and offers an alternative to the traditional economic methods used in energy research further contrast explanation is extended by the addition of contested and uncontested hypotheses analyses this research focuses on the methods employed to deliver the new nuclear programme of the uk government in order to achieve a sustainable nuclear energy policy three issues are of major importance 1 law policy and development 2 public administration and 3 project management further the research identifies that policy in the area remains to be resolved in particular at an institutional and legal level however contrary to the literature in some areas the research identifies a change of course as the uk concentrates on delivering a long term policy for the nuclear energy sector and the overall energy sector

politicizing energy justice and energy system transitions fossil fuel divestment and a just transition the burgeoning energy justice scholarship highlights the importance of justice and equity concerns in the context of global decarbonization and the transition to a green economy this paper seeks to extend current conceptualizations of energy justice across entire energy lifecycles from extraction to final use to offer an analytically richer and more accurate picture of the in justice impacts of energy policy decisions we identify two key areas that require greater attention and scrutiny in order to enact energy justice within a more democratized energy system first we call for greater recognition of the politics power dynamics and political economy of socio technical energy transitions we use the example of the fossil fuel divestment movement as a way to shift energy justice policy attention upstream to focus on the under researched injustices relating to supply side climate policy analysis and decisions second the idea of a just transition and the distributional impacts on and the role of labor in low carbon transitions must be addressed more systematically this focus produces a more directly political and politicizing framing of energy in justice and a just energy transition

business cycle durations and postwar stabilization of the u s economy average postwar expansions are twice as long as prewar expansions and contractions are one half as long this paper investigates three possible explanations the first explanation is that shocks to the economy have been smaller in the postwar period the second explanation is that the composition of output has shifted from very cyclical sectors to less cyclical sectors the third explanation is that the apparent stabilization is largely spurious and is caused by differences in the way that prewar and postwar business cycle reference dates were chosen by the national bureau of economic research the evidence presented in this paper favors this third explanation copyright 1994 by american economic association

upfront payments and exclusion in downstream markets although upfront payments are often observed in contracts between manufacturers and retailers little is known about their competitive effects or the role retailers play in securing them in this article we consider a model in which two competing retailers make take it or leave it offers to a common manufacturer we find that upfront payments are a feature of equilibrium contracts and in all equilibria only one retailer buys from the manufacturer these findings support the claims of small manufacturers who argue that they are often unable to obtain widespread distribution for their products because of upfront payments copyright 2007 rand

trends and cycles in euro area real gdp this article examines the time series properties of real gross domestic product gdp in the euro area as a whole both prior to and after the adoption of the euro in january 1999 we employ the relatively recent optimal approximation band pass filter developed by christiano and fitzgerald 2003 in order to identify a eurozone business cycle we also utilize two alternative assumptions regarding the behaviour of the trend component of euro area real gdp the empirical results suggest that the single currency experiment appears to have reduced trend growth in the eurozone both ex ante during the maastricht nominal convergence phase and also ex post during the period 2001q1 to 2006q1 with respect to cyclical behaviour we identify a very robust measure of the eurozone business cycle in the post 1994 period which does not appear to be sensitive to the particular assumption made regarding the trend rate of growth of real gdp

business cycles in developing countries are they different abstract this paper demonstrates that developing countries differ considerably from their developed counterparts when focus is on the nature and characteristics of short run macroeconomic fluctuations cycles are generally shorter and the stylized facts of business cycles across countries are more diverse than those of the rather uniform industrialized countries supply side models are generally superior in explaining changes in output but a one size fits all approach in formulating policy is inappropriate our results also illustrate the critical importance of understanding business regularities as a stepping stone in the process of designing appropriate stabilization policy and macroeconomic management in developing countries

assessing fairness of dynamic grid tariffs the increase in the supply of intermittent renewable energy and the higher electricity use lead to stronger variation in network usage which either requires costly network extensions or the implementation of incentives to reduce peaks this paper focuses on the latter namely dynamic tariffs however a tension may exist between economic arguments for dynamic pricing and people perceiving such pricing as unfair this paper seeks to assess the fairness of dynamic tariffs through a combination of theoretical and empirical research fairness is defined broader than inequality it is understood more objectively than just people s perceptions and thus requires engagement with ethical theory and the fairness analysis is not only based on abstract ethical reflection but also on analysing the underlying arguments for people s perceptions both the theoretical fairness assessment and the survey among dutch households reveal that dynamic tariffs are less fair than transport and capacity tariffs and fairer than ramsey pricing the fairness of dynamic tariffs depends on implementation conditions such as clear non economic arguments as justification guarantying basic needs fulfilment decreasing perception that peak use is only for the rich and increasing predictability

real business cycle models past present and future in this paper i review the contribution of real business cycles models to our understanding of economic fluctuations and discuss open issues in business cycle research this abstract was borrowed from another version of this item

does detrending matter for the determination of the reference cycle and the selection of turning points we examine the sensitivity of turning points classification to detrending and compare the implied cycles to those derived by nber or doc researchers two dating rules are considered turning point dates are broadly insensitive to detrending with one dating rule but not the other and many procedures generate false alarms and miss several common turning points with the latter one amplitude and duration properties are also sensitive detrending and dating rules the hodrick and prescott and a frequency domain filters are best in mimicing nber and doc cycles regardless of the dating rule used