In this study, we analyse the impact of COVID-19 on house rents and prices in Warsaw, capital Poland. Hedonic indexes indicate a slight increase (ca. 1.2%) substantial drop long-term -7.7%) between March 2020 December 2020. The largest decline occurred centrally located neighbourhoods, which was largely due to inflow new housing supply from short-term rental market (the Airbnb Warsaw shrank by ...

Firms account for a substantial share of earnings inequality. Although the standard explanation for why is that search frictions support an equilibrium with rents, this paper finds that compensating differentials are at least as important. To reach this finding, this paper develops a structural search model and estimates it on U.S. administrative data with 1.5 million firms and 100 million work...

This paper presents some simulations of the proposed California power exchange, or pool, as it might interact with the regional market in the Western U.S. Pooling will increase interdependence with the regional market. We study this using a multi area chronological production simulation model. We find that overall operating economies resulting from pooling are small. Physical changes in the dis...

BACKGROUND Recent research by demographers and economists has examined the link between living costs and fertility outcomes. The literature has provided some evidence that high rents, or high housing costs, discourage fertility. OBJECTIVE I re-examine the hypothesis that delayed fertility (age at first birth) is related to the costs of housing measured either as rents or sales prices. METHO...

We demonstrate that territorial size is intimately linked to the structure of political authority within states. We take an evolutionary approach, arguing that there are certain stable, long-term equilibrium combinations of size and political institutions. Building on a general theory of public goods provision and rentseeking, we predict that, ceteris paribus, democracies will tend to be smalle...

The Fair Trade (FT) initiative has been hugely popular with coffee consumers around the world, and yet the creation of durable producer rents is challenging in a competitive market environment. We model the FT premium actually received by producers and suggest that rents are in fact dissipated, but that this occurs in ways that are quite obscure to consumers. First, over-certification dilutes t...

The passage of fluorescein dye, injected into the general circulation, from the posterior to the anterior chamber was studied in 60 selected aphakic eyes between 2 days and 4 weeks after an uneventful cataract extraction. In a group of 22 eyes with intact anterior hyaloid, fluorescein was seen to pass only through the pupillary margin, mostly within 20 seconds of the beginning of the eye inject...

Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and rents in spatial natural resource markets using mathematical programing models. The models comprise ...

This paper develops a theory of outsourcing in which the circumstances under which factors of production can grab rents play the leading role. One factor has monopoly power (call this labor) while a second factor does not (call this capital). There are two kinds of production tasks: labor-intensive and capital-intensive. We show that if frictions limiting outsourcing are not too large, in equil...

Corruption by the politically connected is often blamed for economic ills, particularly in less developed economies. Using a loan-level data set of more than 90,000 …rms that represents the universe of corporate lending in Pakistan between 1996 and 2002, we investigate rents to politically connected …rms in banking. Classifying a …rm as “political”if its director participates in an election, we...