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Block rate pricing of piped water in Indonesian cities has a progressive structure: the marginal price paid increases with the volume of demand. This paper estimates household water demand in Salatiga city using the Burtless and Hausman model, and finds that its distribution is not unimodal—that data cluster around kinks. The main estimation results are a price elasticity of approximately–1.2 and an income elasticity of 0.05. These elasticities are mutually dependent. The estimated model is used to investigate the social welfare consequences of a shift to uniform pricing. The principal beneficiaries would be large households, which are not necessarily wealthy. While replacing the complex rate structure by a uniform marginal price would have positive effects on average welfare, the equity consequences would be small. To improve equity, water companies could reduce installation fees, giving low-income households access to water connections, or reinvest profits in network expansion to unserviced areas. 相似文献
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The intersection of tourism and climate change has seen significant research over the past two decades, focusing particularly on issues of mitigation and adaptation in the global North. Research output has predominantly been centred on the Mediterranean and Nordic countries and number of localities in North America. The global South has seen significantly less investigation, despite having significantly lower adaptive capacity to the impacts of climate change, and numerous countries with rapidly growing tourism sectors. The African continent specifically has seen appreciably less research than other countries in the global South, despite arguably having the lowest adaptive capacity and projections of severe impacts of climate change to the tourism sector from temperature increases, changes in precipitation volume and sea level rise. This paper therefore presents a review of the existing literature on adaptation strategies of tourism sectors and participants in African countries. The crucial argument of this paper is in highlighting the need for an increase in research into the threats of climate change to tourism in African countries, identifying future research trajectories. The development of such knowledge would assist in the development of adaptation and mitigation strategies for these most vulnerable tourism economies. 相似文献
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Summary. Short-term contracts and exogenous productivity growth are introduced in a simple wage bargaining model. The equilibrium
utilities corresponding to militant union behaviour are independent of the contract length. Necessary and sufficient conditions
for monotonic convergence to a unique steady state are derived. Otherwise, cyclic behaviour of wage shares is inevitable.
A wage decrease can occur if strike is credible, but never when strike is not credible. In the limit, as time between bargaining
rounds vanishes, this paradox survives.
Received: September 3, 1998; revised version: February 10, 2000 相似文献
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In order to meet the Kyoto targets, in the Netherlands 9% of electricity consumption should be generated from renewable resources by 2010. In this paper, we discuss and comment on the green energy policy the Dutch government adopted in 2001 and 2002 in order to reach this goal, and the new subsidy system that will be in place as of 2003. On the one hand, the policies from the past were successful since they led to 10% of electricity consumption being green in 2001, with a further increase to 13% in 2002. On the other hand, the government argued that the policy was too costly and inefficient. We analyze whether the arguments the Dutch government used to get the new law accepted hold water and we show that mainly the Dutch supply companies benefited from the generous subsidies that the government provided. 相似文献
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We introduce longitudinal factor analysis (LFA) to extract the common risk‐free (CRF) rate from a sample of sovereign bonds of countries in a monetary union. Since LFA exploits the typically very large longitudinal dimension of bond data, it performs better than traditional factor analysis methods that rely on the much smaller cross‐sectional dimension. European sovereign bond yields for the period 2006–2011 are decomposed into a CRF rate, a default risk premium and a liquidity risk premium. Our empirical findings suggest that investors chase both credit quality and liquidity, and that they price double default risk on credit default swaps. Copyright © 2013 John Wiley & Sons, Ltd. 相似文献
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A. Heertje S. K. Kuipers P. Hennipman D. B. J. Schouten J. Tinbergen W. H. Somermeyer P. D. van Loo C. J. van Eijk A. M. van Nunen A. P. Barten C. de Galan K. Groenveld H. Jager F. de Roos L. B. M. Mennes J. M. G. Kleinpenning J. Oosterhaven J. K. T. Postma F. Muller H. van Leeuwen F. Hartog P. de Wolff Th. Junius H. G. Hubbeling J. Pen G. W. Schoch P. S. H. Leeflang P. S. Zwart J. Th. Degenkamp J. D. van der Wal H. G. Sol 《De Economist》1976,124(1-2):148-241
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We model the regulation of irreversible capacity expansion by a firm with private information about capacity costs, where investments are financed from the firm's cash flows and demand is stochastic. The optimal mechanism is implemented by a revenue tax that increases with the price cap. If the asymmetric information has large support, then the optimal mechanism consists of a laissez‐faire regime for low‐cost firms. That is, the firm's price cap corresponds to that of an unregulated monopolist, and it is not taxed. This “maximal distortion at the top” is necessary to provide information rents, as direct subsidies are not feasible. 相似文献