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Articles 1 - 7 of 7
Full-Text Articles in Labor Economics
Firm-Sponsored General Training, Felipe Balmaceda Assoc Prof.
Firm-Sponsored General Training, Felipe Balmaceda Assoc Prof.
Felipe Balmaceda
This article analyzes firm and worker’s incentives to invest in general and specific training when these are separable in the production technology and wages are determined by the outside-option principle. It is shown that firms pay for general training, while workers receive the full return on it, and firms and workers share both the costs and benefits of specific training. The case of delayed general training is also studied. When general training is delayed, it is shown that the strategic complementarity between specific and general training increases the worker’s incentives to invest in specific training.
Competitive Auction Markets In British Columbia, Peter Cramton, Susan Athey
Competitive Auction Markets In British Columbia, Peter Cramton, Susan Athey
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
A Capacity Market That Makes Sense, Peter Cramton, Steven Stoft
A Capacity Market That Makes Sense, Peter Cramton, Steven Stoft
Peter Cramton
We argue that a capacity market is needed in most restructured electricity markets, and present a design that avoids problems found in the early capacity markets. The proposed market only rewards capacity that contributes to reliability as demonstrated by its performance during hours in which there is a shortage of operating reserves. The capacity price responds to market conditions, increasing when and where capacity is scarce and decreasing to zero when and where it is sufficiently plentiful. Market power in the capacity market is addressed by basing the capacity price on actual capacity, rather than bid capacity, so generators cannot …
Comments On Doc Notice Of Preliminary Results Of Countervailing Duty Review, Peter Cramton, Susan Athey
Comments On Doc Notice Of Preliminary Results Of Countervailing Duty Review, Peter Cramton, Susan Athey
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
On Measuring The Efficiency Of The Social Security System Reforms. The Case Of Poland, Joanna Tyrowicz, Piotr Mularczyk
On Measuring The Efficiency Of The Social Security System Reforms. The Case Of Poland, Joanna Tyrowicz, Piotr Mularczyk
Joanna Tyrowicz
As other European countries, transition economies face the reform of the social security system. As one of the first, Poland has introduced a pension reform in 1999, which changed a standard pay-as-you-go system into a one constructed of three pillars and based on addressed contributions. The five years from the reform allow to take a first look at the reform, both in terms of assessing the legal implementation as well as the realization of main assumptions and aims. In this paper we consider the effectiveness of the reform. We find that in many aspects this reform should not be considered …
Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson
Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson
Peter Cramton
New England Power Pool, Federal Energy Regulatory Commission.
Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson
Review Of The Proposed Reserve Markets In New England, Peter Cramton, Hung-Po Chao, Robert Wilson
Peter Cramton
ISO New England proposes reserve markets designed to improve the existing forward reserve market and improve pricing during real-time reserve shortages. We support all of the main elements of the proposal. For example, we agree that little is gained by allowing reserve availability bids in the day-ahead market. Doing so greatly increases the complexity of the market without the prospect of more efficient pricing. Rather, offline reserves are most efficiently priced and awarded well in advance, as is done by the improved forward reserve market.