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This paper uses an analytically tractable intertemporal framework for analyzing the dynamic pricing of a utility with an underdeveloped network (a typical case in most developing countries) facing a competitive fringe, short-run network adjustment costs, theft of service, and the threat of a retaliatory regulatory review that is increasing with the price it charges. This simple dynamic optimization model yields a number of powerful policy insights and conclusions. Under a variety of plausible assumptions (in the context of developing countries) the utility will find its long-run profits enhanced if it exercises restraint in the early stages of network development by holding price below the limit defined by the unit costs of the fringe. The utility's optimal price gradually converges toward the limit price as its network expands. Moreover, when the utility is threatened with retaliatory regulatory intervention, it will generally have incentives to restrain its pricing behavior. These findings have important implications for the design of post-privatization regulatory governance in developing countries.

Choice --- Consumers --- Costs --- Debt Markets --- Demand --- Discount Rate --- Diseconomies of Scale --- E-Business --- Economic Efficiency --- Economic Theory and Research --- Emerging Markets --- Finance and Financial Sector Development --- Financial Literacy --- Incentives --- Investment --- Low Tariffs --- Macroeconomics and Economic Growth --- Marginal Costs --- Markets and Market Access --- Monopoly --- Optimization --- Prices --- Pricing --- Private Sector Development --- Profit Maximization --- Profits --- Urban Water Supply and Sanitation --- Utility --- Variables --- Water Supply and Sanitation --- Welfare

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Many scientists now widely agree that the current paradigm of statistical significance should be abandoned or largely modified. In response to these calls for change, a Special Issue of Econometrics (MDPI) has been proposed. This book is a collection of the articles that have been published in this Special Issue. These seven articles add new insights to the problem and propose new methods that lay a solid foundation for the new paradigm for statistical significance.

p-value --- Bayesian --- model specification --- model testing --- reporting results (p-values) --- replications --- equivalence --- minimum-effect --- non-inferiority --- point-null hypothesis testing --- zero probability paradox --- t-statistic --- pretest estimator --- model averaging --- a priori procedure --- null hypothesis significance testing --- confidence intervals --- p-values --- estimation --- hypothesis testing --- replication crisis --- profit maximization --- market failure --- teaching of econometrics --- regression analysis --- economics pedagogy --- n/a

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May 2000 - Does private ownership improve on corporate performance in a developing institutional environment? In Lithuania commercial transfer of state property to private owners has significantly improved enterprises' revenue and export performance. Grigorian presents some evidence of improved corporate performance in Lithuania for the period 1995-97. His question: Were these improvements in any way caused by privatization and changes in the environment in which enterprises operate? He presents evidence of correlation between ownership and enterprise performance as measured by increased revenues and improved export performance. Controlling for preselection bias increases the magnitude and significance of private share ownership, which indicates negative selection bias at privatization. On the other hand, (expected) subsidies seem to contribute negatively to enterprise performance. However, the study finds no clear evidence of the effect of market competition on performance indicators in the short run. Grigorian's is the first study to analyze the consequences of commercial (as opposed to mass) privatization in Central and Eastern European countries. This paper - a product of the Private and Financial Sectors Development Sector Unit, Europe and Central Asia Region - is part of a larger effort in the region to study enterprise restructuring in transition. The author may be contacted at dgrigorian@worldbank.org.

Central Planning --- Debt Markets --- Economic Reforms --- Economic Theory and Research --- Emerging Markets --- Enterprise Performance --- Enterprise Restructuring --- Enterprises --- Finance and Financial Sector Development --- Financial Crisis Management and Restructuring --- Financial Literacy --- Investment and Investment Climate --- Macroeconomics and Economic Growth --- Market Competition --- Microfinance --- Operational Efficiency --- Ownership Of Enterprises --- Performance Indicators --- Political Economy --- Private Firms --- Private Owners --- Private Ownership --- Private Sector Development --- Privatization --- Privatization Process --- Privatization Program --- Profit Maximization --- Share Ownership --- State Firms --- State Owned Enterprise Reform --- State Ownership --- State Property

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India has pursued an active food security policy for many years, using a combination of trade policy interventions, public distribution of food staples, and assistance to farmers through minimum support prices defended by public stocks. This policy has been quite successful in stabilizing staple food prices, but at a high cost, and with potential risks of unmanageable stock accumulation. Based on a rational expectations storage model representing the Indian wheat market and its relation to the rest of the world, this paper analyzes the cost and welfare implications of this policy and unpacks the contribution of its different elements. To analyze alternative policies, social welfare is assumed to include an objective of price stabilization and optimal policies corresponding to this objective are assessed. Considering fully optimal policies under commitment as well as optimal simple rules, it is shown that adopting simple rules can achieve most of the gains from fully optimal policies, with both potentially allowing for lower stockholding levels and costs.

Accelerator --- Access to Markets --- Aggregate Demand --- Agriculture --- Arbitrage --- Barriers --- Benchmark --- Bidding --- Border Price --- Cash Flow --- Choice --- Closed Economy --- Commodity --- Commodity Price --- Communication --- Consumer Price --- Consumer Price Index --- Consumers --- Consumption --- Costs --- Criteria --- Debt Markets --- Demand --- Demand Elasticity --- Demand Function --- Development Economics --- Development Policy --- Distribution --- Domestic Market --- Domestic Price --- Econometrics --- Economic Theory --- Economic Theory & Research --- Economics Research --- Elasticity --- Emerging Markets --- Equations --- Equilibrium --- Equilibrium Values --- Exchange --- Exchange Rate --- Expectations --- Exports --- Failures --- Fair --- Finance and Financial Sector Development --- Floor Price --- Food Price --- Fraud --- Free Trade --- Incentives --- Income --- Incomplete Markets --- Influence --- Inputs --- Interest --- Interest Rate --- International Economics & Trade --- International Trade --- Lags --- Laissez Faire --- Laissez-Faire --- Macroeconomics and Economic Growth --- Marginal Cost --- Marginal Utility --- Market --- Market Conditions --- Market Economy --- Market Equilibrium --- Market Failures --- Market Power --- Market Price --- Marketing --- Markets --- Markets & Market Access --- Middle-Income Country --- Multipliers --- Open Economy --- Opportunity Cost --- Optimization --- Outcomes --- Output --- Price --- Price Behavior --- Price Change --- Price Elasticity --- Price Index --- Price Instability --- Price Levels --- Price Movements --- Price Policy --- Price Risk --- Price Stability --- Price Stabilization --- Price Uncertainty --- Price Volatility --- Prices --- Private Entity --- Private Sector Development --- Producer Price --- Product --- Production --- Profit Maximization --- Public Policy --- Purchasing --- Rapid Expansion --- Real Income --- Risk Aversion --- Risk Neutral --- Risk-Averse --- Risk-Neutral --- Sales --- Savings --- Security --- Share --- Stabilization Policy --- Stock --- Storage --- Subsidy --- Substitution --- Supply --- Supply Elasticity --- Surplus --- Taxes --- Theory --- Time Value of Money --- Trade --- Trade Barriers --- Trade Policies --- Trade Policy --- Trends --- Utility --- Value --- Value of Money --- Variables --- Volatility --- Welfare --- World Market --- World Trade

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In this book Daniel Hamermesh provides the first comprehensive picture of the disparate field of labor demand. The author reviews both the static and dynamic theories of labor demand, and provides evaluative summaries of the available empirical research in these two subject areas. Moreover, he uses both theory and evidence to establish a generalized framework for analyzing the impact of policies such as minimum wages, payroll taxes, job- security measures, unemployment insurance, and others. Covering every aspect of labor demand, this book uses material from a wide range of countries.

331.52 --- Labor demand --- Labor market --- Employees --- Market, Labor --- Supply and demand for labor --- Markets --- Demand, Labor --- Demand for labor --- 331.52 Arbeidsmarktstructuur. Vraag en aanbod op de arbeidsmarkt. Spreiding van arbeidsplaatsen. Spreiden van arbeidskrachten. Tewerkstellingsgraad --- Arbeidsmarktstructuur. Vraag en aanbod op de arbeidsmarkt. Spreiding van arbeidsplaatsen. Spreiden van arbeidskrachten. Tewerkstellingsgraad --- Supply and demand --- Labor demand. --- 331.526 --- 331.123 --- Levels of employment. Employment situation, conditions --- #A9402E --- 331.526 Levels of employment. Employment situation, conditions --- 332.630 --- 332.691 --- AA / International- internationaal --- Strijd tegen de werkloosheid: algemeen. Theorie en beleid van de werkgelegenheid. Volledige werkgelegenheid --- Evolutie van de arbeidsmarkt --- Labour market --- Labor market. --- Marché du travail --- Mercado de trabajo. --- Cobb–Douglas production function. --- Comparative advantage. --- Compensating differential. --- Contract curve. --- Cost curve. --- Demand For Labor. --- Demand response. --- Derived demand. --- Developed country. --- Developing country. --- Earnings. --- Economic cost. --- Economic efficiency. --- Economic forces. --- Economic interventionism. --- Economics. --- Efficiency wage. --- Efficiency. --- Elasticity of intertemporal substitution. --- Elasticity of substitution. --- Employment. --- Endogenous growth theory. --- Estimation. --- Excess supply. --- Externality. --- Factor cost. --- Factor price. --- Implicit cost. --- Income elasticity of demand. --- Indifference curve. --- Induced innovation. --- Inelastic. --- Inflation. --- Instrumental variable. --- Investment goods. --- Isoquant. --- Job security. --- John Haltiwanger. --- Labour supply. --- Law of demand. --- Layoff. --- Living wage. --- Long run and short run. --- Mandatory retirement. --- Manufacturing in the United States. --- Marginal cost. --- Marginal product. --- Marginal rate of substitution. --- Marginal rate of technical substitution. --- Maximum wage. --- Minimum wage. --- Monopsony. --- Neoclassical economics. --- Net Change. --- Net investment. --- New Keynesian economics. --- Oligopoly. --- Outsourcing. --- Partial equilibrium. --- Payroll tax. --- Phillips curve. --- Present value. --- Price Change. --- Price elasticity of demand. --- Price elasticity of supply. --- Production function. --- Productive efficiency. --- Productivity. --- Profit (economics). --- Profit maximization. --- Real business-cycle theory. --- Real versus nominal value (economics). --- Real wages. --- Recession. --- Reservation wage. --- Response Lag. --- Risk aversion. --- Scarcity. --- Shephard's lemma. --- Shortage. --- Stephen Nickell. --- Subsidy. --- Substitution effect. --- Supply (economics). --- Supply and demand. --- Supply shock. --- Tax incidence. --- Tax. --- Theory of the firm. --- Time preference. --- Total cost. --- Total factor productivity. --- Trade barrier. --- Unemployment in the United States. --- Unemployment. --- Utility. --- Utilization. --- Variable cost. --- Wage.