Author: sdmcrae

How Do Firms Exercise Unilateral Market Power? Evidence from a Bid-Based Wholesale Electricity Market

With Frank Wolak. In Manufacturing Markets: Legal, Political and Economic Dynamics, Eric Brousseau and Jean-Michel Glachant (eds), Cambridge University Press, forthcoming. Working paper version

Posted in Uncategorized

Merger Analysis in Restructured Electricity Supply Industries: The Proposed PSEG and Exelon Merger (2006)

With Frank Wolak. Published in The Antitrust Revolution: Economics, Competition and Policy, John E. Kwoka and Lawrence J. White (eds), Oxford University Press, 2009.  

Posted in Publication

Infrastructure Quality and the Subsidy Trap

Conditionally accepted at American Economic Review. Abstract: Electricity and water are often subsidized in developing countries to increase their affordability for low-income households. Ideally, such subsidies would create sufficient demand in poor neighborhoods to encourage private investment in their infrastructure.

Posted in Working paper

Testing the convergence hypothesis: a new approach

With Erkin Bairam. Economics Letters, 1999, v.64: pp. 351-355.   Abstract: This paper uses a non-constant returns Cobb–Douglas production function to assess the relative roles of stages of economic development, the degree of returns to scale and capital deepening in

Posted in Publication