Topic
Factor price
About: Factor price is a research topic. Over the lifetime, 2764 publications have been published within this topic receiving 86176 citations.
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Papers
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TL;DR: In this article, the authors used the petrochemical industry as a natural experiment to test transaction cost theory and found that input price uncertainty in the 1970s positively affected the extent of vertical integration by firms into input stages.
63 citations
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TL;DR: In this article, the authors show how wages and employment respond to differentials in what they call real market potential, a discounted sum of demands derived from the home market effect theory.
63 citations
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01 Jan 1999
TL;DR: In this article, the authors describe the task that an economic regulator should undertake when revising the price control for a regulated company, while ensuring that the company remains viable and has an incentive to operate efficiently.
Abstract: This manual describes the task that an economic regulator should undertake when revising the price control for a regulated company. The aim of regulation is to protect consumers, while ensuring that the company remains viable and has an incentive to operate efficiently. After an introduction in section 1, section 2 discusses the basic principle of price control regulation. Most systems of regulation include an appeal mechanism to protect the company against an excessively zealous regulator, which means that the regulator will have to make his proposals in time to allow an appeal, should the company wish to make one. Section 3 discusses the procedures the regulator should follow. Section 4 discusses the form of price control the regulator must select to implement. Section 5 offers examples of revenue requirements. The regulator should ask the company for information on its present and projected operating costs, its assets, its investment plans, and its demand forecasts. These are discussed in sections 6-8. The rate of return is critical in determining the amount of revenue needed, and ways to determine an appropriate rate of return are discussed in section 9.
63 citations
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TL;DR: In this article, the authors developed an approach to measure the factor content of trade when intermediate inputs are traded, and techniques differ for reasons such as factor price differences, which can help reconcile generalequilibrium trade models with actual patterns of trade.
63 citations