This article examines how research productivity, administrative service, and teaching affect reputational capital in the market for academic economists. Also, we investigate the issue of the durability of reputational capital, estimating the penalties associated with gaps in research output. Our results reveal that (1) the market makes a distiniction between the quantity and the quality of an i...

This paper investigates whether an emissions tax (equivalent to an emissions cap) is the best policy in the presence of incomplete regulation (leakage) or market power by analyzing an intensity standard regulating emissions per unit of output. With no other market failures, an intensity standard is indeed inferior, although combining it with a consumption tax eliminates this inferiority. For in...

This paper investigates whether an emissions tax (equivalent to an emissions cap) is the best policy in the presence of incomplete regulation (leakage) or market power by analyzing an intensity standard regulating emissions per unit of output. With no other market failures, an intensity standard is indeed inferior, although combining it with a consumption tax eliminates this inferiority. For in...

Regardless of the fact, whether governments particular country implemented strong lockdown measures to prevent spread COVID-19 or not, economies each all over word have been suffered considerably due shocks caused by pandemic. We observed slowdown economic activity, macroeconomic instability and shifts in consumption preferences supplemented rising unemployment as well significant fluctuation d...

This research proposes a novel demand forecasting method which will work effectively even in such circumstances where extrapolate-able demand patterns are hardly available. The method uses the market mechanism to aggregate tacit knowledge of the firm's sales people on the future demand of a product into a continuous forecasted demand distribution. In order to make it work, the paper introduces ...

Understanding and measuring determinants of bid-ask spreads is decisive to clarifying the efficiency of the microstructure of any exchange and general market liquidity. This paper examines the market microstructure of a low liquidity, market maker driven option market, the relations to the underlying securities’ market and the challenges of pricing liquidity. Comparing empirical results with pr...

Results of empirical research have revealed a characteristic hump-shaped effect of monetary policy shocks on output: the effect builds to a peak after several months and then gradually dies out. We analyze, in the context of a “new open economy macroeconomics” model, factors that imply a humpshaped effect of a monetary policy shock on output. We find that a humpshaped effect of output is likely...

The paper reports the results of 39 laboratory duopoly markets for which pricing institution and participant experience are treatments. Duopolies in which producers with complete information about market demand make advance-production output decisions and sell their output at a clearing price (Cournot markets) are contrasted with comparable duopolies who post prices for sale through an efficien...