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BEGIN:VEVENT
UID:4493b167f40eba61cbd6b8b331bde8a6
CATEGORIES:Seminars
CREATED:20141216T172932
SUMMARY:Joan Monras - Columbia University (Job Market Seminar)
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><span style="font-size: 12pt;"><strong><str
 ong><span style="font-size: 11pt; line-height: 115%; font-family: 'Calibri'
 ,'sans-serif';">Immigration and Wage Dynamics: Evidence from the Mexican Pe
 so Crisis</span></strong></strong></span></p><p style="text-align: justify;
 ">Abstract:</p><p style="text-align: justify;">We measure the pass-through 
 of emissions costs to electricity prices. We perform both reduced-form and 
 structural estimations based on optimal bidding in this market. Using rich 
 micro-level data, we estimate the channels affecting pass-through in a flex
 ible manner, with minimal functional form assumptions. Contrary to many stu
 dies in the general pass-through literature, we find that emissions costs a
 re almost fully passed-through to electricity prices. Since electricity is 
 traded through high-frequency auctions for highly inelastic demand, firms h
 ave weak incentives to adjust markups after the cost shock. Furthermore, th
 e costs of price adjustment are small.</p><p> </p>
DTSTAMP:20260406T183547Z
DTSTART:20140124T173000Z
DTEND:20140124T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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