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...

The absence of a competitive market may enable public-sector workers to extract rents from taxpayers in the form of high pay, especially when public-sector workers are unionized. On the other hand, this rent extraction may be suppressed by the ability of taxpayers to vote with their feet, leaving jurisdictions where public-sector workers extract high rents. However, although migration of taxpay...

It considers two hypotheses in particular: first, that falls in the cost of reproducing and transmitting information have greatly reduced entry barriers in broadcasting, meaning that market power is less of a concern; and secondly, that rents in broadcasting will increasingly come from control of scarce content rather than from control over means of transmission. Both hypotheses contain element...

This Briefing Paper describes the spatial pattern of target rents across England and the extent to which target rents differ from actual rents. It also assesses whether the patterns vary across property sizes and across HA size, as well as across regions and districts. • Target rents are highest in London and above the national average of £60.44 per week in the South East and the East of Englan...

In recent years, progressive public intellectuals and prominent scholars have asserted that monopoly power lies at the root of wealth inequality and that increases in antitrust enforcement are necessary to stem its rising tide. This claim is misguided. Exercises of market power have complex, crosscutting effects that undermine the generality of the monopoly regressivity claim. Contrary to what ...

Countries that rely on natural resource rents (that is, the revenue generated from the sale of natural resources) may suffer from a variety of social problems. This exploratory study reviews the natural resource extraction literature to derive a 'natural resource rents-homicide' hypothesis. Data for 173 countries for the years 2000 to 2012 are examined to determine if there is a correlation bet...

We examine the impact of political and criminal accountability on economic growth. Governments seek to maximize their own consumption by extracting rents that are costly to growth. When citizens are able to depose politicians through elections, governments are tightly controlled. The rents politicians are able to extract increase in the length of their term. The effect of the threshold of crimi...