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Short-Run Estimation Of The Cost Structure Of A Canadian, Fully-Integrated Steel Plant, John Edward Erkkila
Short-Run Estimation Of The Cost Structure Of A Canadian, Fully-Integrated Steel Plant, John Edward Erkkila
Digitized Theses
This thesis has three objectives. The first objective is to discover the characteristics of production of iron and steelmaking. A unique data set allows hypotheses, which are frequently maintained in empirical work, to be tested. The second objective is to determine substitution between variable inputs. It can be learned if variable inputs are used in fixed proportions at the firm level in iron and steelmaking. The third objective is to learn if there are economies of joint production in iron and steelmaking.;These objectives can be achieved by estimating short-run or restricted translog cost functions separately for ironmaking, for steelmaking and …
Three Essays In Mechanism Design, Dominique Michel Demougin
Three Essays In Mechanism Design, Dominique Michel Demougin
Digitized Theses
Microeconomic literature has shown an increasing interest in problems with asymmetric information. A general consensus from this section of the literature is that the introduction of an asymmetry in information affects the distribution of wealth between the different agents as well as the overall efficiency of the system. It is also generally thought that a mechanism designer can do better than to average over the information set or, alternatively, that communication has a positive value. The present research shows that these conclusions are very sensitive to changes in the assumptions of the models. The first essay analyzes a principal-agent model …
A Dynamic Agency Model With Borrowing, Harvey Brian King
A Dynamic Agency Model With Borrowing, Harvey Brian King
Digitized Theses
Recent research on agency models has emphasized multiperiod contracts. However, most research has assumed the principal could control agents' consumption, choosing to deny them access to a capital market. The few papers that have examined the role of capital markets in an agency model (Braverman and Stiglitz (1982), Rogerson (1985a)) do not allow agents a joint choice of effort and borrowing. This thesis extends these models by allowing agents this joint choice of borrowing and effort, showing how previous results change.;Agents are allowed access to two types of imperfect capital markets. In one model of the capital market, agents can …
Partial- And General-Equilibrium Evaluations Of The Impact Of Energy Policies In Canada, Gordon Joseph Lenjosek
Partial- And General-Equilibrium Evaluations Of The Impact Of Energy Policies In Canada, Gordon Joseph Lenjosek
Digitized Theses
This dissertation is primarily concerned with evaluating the welfare implications of the National Energy Program (NEP) for Canada in static, partial- and general-equilibrium frameworks. Foreign participation in the Canadian economy is incorporated in analyzing the allocational and distributional effects of these petroleum pricing and fiscal policies.;The international redistribution of crude oil rents as well as efficiency and intranational revenue redistribution effects of both NEP pricing and fiscal policies on the Canadian crude oil market are addressed in partial equilibrium analyses.;A unique and relatively simple approach to general-equilibrium modelling (developed in association with John Whalley) is used to analyze the welfare …
Bid-Ask Spreads: An Examination Of Systematic Behavior Using Intraday Data On Canadian And Us Exchanges, David Carlyle Porter
Bid-Ask Spreads: An Examination Of Systematic Behavior Using Intraday Data On Canadian And Us Exchanges, David Carlyle Porter
Digitized Theses
Recently, many authors have noted anomalies in risk adjusted returns as measured by the Capital Asset Pricing Model (CAPM). The majority of these studies are based implicitly or explicitly on two assumptions: (A) there are no systematic cross-sectional or time-series differences in the probability of a trade occurring at the bid or at the ask, and (B) there are no systematic time-series movements in proportional bid-ask spreads.;In this thesis, I test the validity of these two Assumptions by testing four subsets of Assumption A, using LOGIT regressions and a single subset of Assumption B, using a SUR regression. The Canadian …
The Relationship Between Inflation And Relative Prices: Some Monetary-Theoretic Explanations, Veena Mishra
The Relationship Between Inflation And Relative Prices: Some Monetary-Theoretic Explanations, Veena Mishra
Digitized Theses
This thesis comprises three essays that examine, using explicitly monetary general equilibrium models, the effects of inflation on the transacting patterns adopted by optimizing agents and the macroeconomic consequences of inflation-induced changes in these patterns. In particular, these essays study the implications of such inflation-induced changes in individual behavior for the structure of demands and prices that characterize the steady state equilibrium of an economy. In doing so they help provide a better understanding of the co-movements between inflation and relative prices found to characterize the economic data of several countries.;The first essay studies the effects of inflation-induced changes in …
Models Of Business Cycles With Endogenous Technology, George Werner Stadler
Models Of Business Cycles With Endogenous Technology, George Werner Stadler
Digitized Theses
Traditionally, theories of the business cycle have assumed that technological change is exogenous to the economic process, although there is considerable evidence that changes in technology depend on economic factors. This thesis examines the implications of endogenous technology for business cycle theory. It constructs two basic general models of output fluctuations. In the first model technical knowledge advances through learning by doing and in the second case there exists an innovation production function and technical progress depends on R&D. Nested within the two general models are both real and monetary business cycle models, so enabling comparisons between monetary models with …
Asymmetric Information And Union Strike Behavior In Competitive Industries, Glen Alan Stirling
Asymmetric Information And Union Strike Behavior In Competitive Industries, Glen Alan Stirling
Digitized Theses
When firms have private information a union may use a strike to reveal information about the firm. This thesis has asymmetrically-informed agents in a competitive industry in which union and nonunion firms may exist. This environment makes it possible to derive a wide class of predictions concerning union strike behavior. Many of the new predictions arise from the possibility of less than 100% unionization and the implied demand independence results. Also, multiple firm types may exist at any one time in an industry. This leads to a strong result concerning the joint distribution of wages and strikes within an industry, …
Applied General Equilibrium Analysis Of Customs Unions And Interregional Labour Mobility, Richard Claude Jones
Applied General Equilibrium Analysis Of Customs Unions And Interregional Labour Mobility, Richard Claude Jones
Digitized Theses
This thesis develops various extensions and applications of applied general equilibrium modelling techniques. Essay I deals with the modelling of labour migration and builds on the regional numerical general equilibrium model of Canada developed by Jones and Whalley (forthcoming). Their limited migration decision rule is extended to involve a comparison of relative utility levels across regions. The major implication for model results is that measured migration responses may be dampened under certain policy simulations; this can result in different conclusions being drawn from simulation exercises.;Essay II considers the application of this model to the study of the Canadian equalization system …