New Markets – New Regulation

Europe’s ’new’ Stock Markets

Europe’s ’New’ Stock Markets* The creation of Europe’s ‘new’ stock markets represents a major experiment in market design with important implications for the ability to support innovative, fast-growing companies. We evaluate the success of these markets based on a large number of measures of firm performance and strategy, which extend to several preand post-listing years. Our handcollected data...

Firm Experimentation in New Markets

An important feature of the data on new exporters is the evolution over time of their export size and exit rate. As the exporting age of firms increases, their average export volumes grow and the exit rate decreases. In particular, we observe cases of new exporters expanding slowly initially, and switching to high levels of exports after some time. I propose a quantitative model of active learn...

Distributed Energy Resources: New Markets and New Products

The rapid introduction of Distributed Energy Resources (DER) into the retail/distribution sector of the electric power system has raised questions concerning both the economics and control of the power system. This paper presents one market paradigm that builds upon extension of the logic of Locational Marginal Pricing into the distribution level arguing that this extension is necessary if ther...

Market Expansion and Productivity Growth:Do New Domestic Markets Matter as Much as New International Markets?

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Implementing New Regulation Promotes Health but May Increase Inequality