On theoretical grounds alone, there is no a priori reason why higher taxes should reduce the desired capital stock, since a tax increase reduces marginal returns but also increases depreciation and interest payment allowances. ...

Las pequeñas y medianas empresas (PYME) pagan más que las empresas grandes por su financiación, se les exigen garantías, se las financia a plazos cortos y muchas no se pueden endeudar. Se cree que estas son fallas de mercado ...

It has become increasingly common worldwide to auction the construction and operation of new highways to the bidder that charges the lowest toll. The resulting highway franchises often entail large increases in the value ...

A seaport is awarded in a Demsetz auction to the operator bidding the lowest cargo-handling fee. The competitive auction is irrelevant if the port operator integrates into shipping and sabotages competitors, thus providing ...

This paper studies the determinant of the appropriate rate to fix transmission tolls. I develop a simple model that allows to decompose it in the sum of the risk-free rate and a risk premium. There are two general ...

We review the experience of both private toll-roads built in the United States during the 1990s, and argue that the problems they encountered could have been avoided if the length of the franchise contract would adapt to ...

Public-private partnerships (PPPs) are an increasingly popular organizational form of providing public infrastructure. They can increase e ciency and improve resource allocation, yet pervasive contract renegotiations ...