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Earnings announcements and the variability of stock returns
(Discussion paper, Working paper, 1999)This paper is concerned with the dissemination process of firmspecific annual earnings information in the Norwegian capital market. We find a significant reduction in stock price volatility in the postannouncement period ... 
Earnings manipulation : cost of capital versus tax
(Discussion paper, Working paper, 1999)We show that if taxable income were linked to accounting income, there will exist an automatic safeguard against manipulation of earnings within the analyzed framework. Separating taxable income from accounting income will ... 
Education and the allocation of talent
(Discussion paper, Working paper, 200012)This paper considers a twosector education model with two novel features. First, contracts have an independent role in sorting workers into different sectors of the economy. Second, education improves workers’ awareness ... 
The Effect of Social Distancing Measures on Intensive Care Occupancy: Evidence on COVID19 in Scandinavia
(Discussion paper;2/20, Working paper, 20200429)Understanding the effectiveness of social distancing on the spread of COVID19 is crucial to justify economically costly social distancing measures. We present a case study focusing on the three Scandinavian countries. ... 
Effects of taxes and subsidies on media services
(Discussion paper;44/14, Working paper, 201412)We start out reviewing the justification for press subsidies. The social value of journalism can be larger than what the newspapers are able to extract because of knowledge externalities, public good characteristics of ... 
Efficiency enhancing taxation in twosided markets
(Discussion paper, Working paper, 200801)This paper examines the efficient provision of goods in twosided markets and characterizes optimal specific and advalorem taxes. We show that (i) a monopoly may have too high output compared to the social optimum; (ii) ... 
Efficient statistical equilibria in markets
(Discussion paper, Working paper, 2005)In this paper we will study statistical equilibria in commodity markets where agents have a specified utility attached to every transaction in their offer sets. A probability measure on the product of all offer sets is ... 
Electricity Prices, LargeScale Renewable Integration, and Policy Implications
(Discussion paper;18/16, Working paper, 20161122)This paper investigates the effects of intermittent solar and wind power generation on electricity price formation in Germany. We use daily data from 2010 to 2015, a period with profound modifications in the German electricity ... 
Elements of economics of uncertainty and time with recursive utility
(Discussion paper;13/20, Working paper, 20201030)We address how recursive utility affects important results in the theory of economics of uncertainty and time, as compared to the standard model, where the focus is on dynamic models in discrete time. Several puzzles ... 
Empirical evidence on the relationship between mobile termination rates and firms' profit
(Discussion paper;2012:10, Working paper, 201208)The comprehensive theoretical literature on mobile termination rates (MTRs) is inconclusive on how the level of MTRs affects overall consumer charges and firms’ profit. In a theoretical model, well suited for econometric ... 
An empirically based implementation and evaluation of a network model for commuting flows
(Discussion paper, Working paper, 2006)In this paper we present empirical results based on a network model for commuting flows. The model is a modified version of a construction introduced in Thorsen et al. (1999). Journeystowork are determined by distance ... 
Employment, transport infrastructure and rural depopulation: a new spatial equilibrium model
(Discussion paper;09/2013, Working paper, 201309)In this paper we propose a new spatial equilibrium model, and use it to discuss issues related to rural depopulation. The discussion focuses on how investments in transport infras tructure and the spatial distribution ... 
Endogenous verifiability in relational contracting
(Discussion paper, Working paper, 200411)We analyze a repeated principalagent trust game where the principal makes a specific investment by paying the agent upfront, expecting an agreed upon quality level in return. The verifiability of the agent’s action is ... 
Enforcement der Wirtschaftsprüfer : Vergleichende Analyse der Disziplinaraufsicht und der Qualitätskontrolle im deutschen und norwegischen Wirtschaftsprüfungswesen
(Discussion paper, Working paper, 2004) 
Equilibrium in marine mutual insurance markets with convex operating costs
(Discussion paper, Working paper, 200602)The paper analyzes the possibility of reaching an equilibrium in a market of marine mutual insurance syndicates, called Protection and Indemnity Clubs, or P&I Clubs for short, displaying economies of scale. Our analysis ... 
Equilibrium, evolutionary stability and gradient dynamics
(Discussion paper, Working paper, 2002)Considered here are equilibria, notably those that solve noncooperative games. Focus is on connections between evolutionary stability, concavity and monotonicity. It is shown that evolutionary stable points are local ... 
The equity premium and the risk free rate in a production economy : a new perspective
(Discussion paper, Working paper, 201102) 
Estimating the additionality of R&D subsidies using proposal evaluation data to control for research intentions
(Discussion paper;18/14, Working paper, 201404)Empirical examination of whether R&D subsidies crowd out private investments has been hampered by selection problems. A particular worry is that project quality and research intentions may be correlated with the likelihood ... 
Estimating the cost of future global energy supply
(Discussion paper;14/14, Working paper, 201403)This study produces an attempt to estimate the cost of future global energy supplies. The approach chosen to address this concern relies on a comparative static exercise of estimating the cost of three energy scenarios ... 
Estimating the parameters of stochastic differential equations using a criterion function based on the KolmogorovSmirnov statistic
(Discussion paper, Working paper, 1998)Estimation of parameters in the drift and diffusion terms of stochastic differential equations involves simulation and generally requires substantial data sets. We examine a method that can be applied when available time ...