London Bus Garages
This paper estimates a spatial bus garage entry model to test whether anti-competitive market sharing agreements exist between firms in the London bus route procurement market. Our approach is based on a simple but powerful idea: a necessary condition for collusion is the triggering of a punishment when a firm deviates to the competitive equilibrium.
Fiscal Policy for Climate Change
Fiscal policy offers a number of levers to reduce carbon emissions. Climate change mitigation can for example be implemented through carbon taxation on the production or consumption side, or through debt-financed public investments in emission-reducing infrastructure.
François Le Grand
Fertility, Housing Costs and City Growth
Developed economies moved from a baby boom to a baby bust, with very low fertility in large urban centers. We develop a spatial theory of demographic change and urban growth, whereby the housing market acts as an endogenous automatic stabilizer of fertility: high housing costs deter fertility while lower demographic growth mitigates future housing price increase.