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13 results on '"Wright, Julian"'

1. Pricing access: Forward-looking versus backward-looking cost rules

Author

Guthrie, Graeme, Small, John, and Wright, Julian

Subjects
Pricing -- Analysis, Product price, Business, Business, international, Economics
Abstract

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.euroecorev.2005.08.004 Byline: Graeme Guthrie (a), John Small (b), Julian Wright (c) Abstract: Regulators across many different jurisdictions and industries have recently adopted the practice of setting access prices based on the current costs of providing the relevant facilities. Though widely regarded as being efficient, the efficiency implications of using current costs instead of historical costs have not been formally analyzed. Our analysis shows that given stochastic costs, forward-looking access prices retard investment and are generally dominated by access prices determined by historical cost whenever investment is desired. Author Affiliation: (a) School of Economics and Finance, P.O. Box 600, Victoria University of Wellington, Wellington, New Zealand (b) University of Auckland, New Zealand (c) National University of Singapore, Singapore Article History: Received 23 June 2004; Accepted 5 August 2005

Published
2006

2. Pricing access: forward-looking versus backward-looking cost rules

Author

Guthrie, Graeme, Small, John, and Wright, Julian

Subjects
Price control -- Analysis, Access charges (Telephone) -- Analysis, Telecommunications services industry -- Prices and rates, Telecommunications services industry -- Laws, regulations and rules, Communications industry -- Prices and rates, Communications industry -- Laws, regulations and rules, Telecommunications services industry, Company pricing policy, Government regulation, Business, Business, international, Economics
Abstract

Regulators across many different jurisdictions and industries have recently adopted the practice of setting access prices based on the current costs of providing the relevant facilities. Though widely regarded as being efficient, the efficiency implications of using current costs instead of historical costs have not been formally analyzed. Our analysis shows that given stochastic costs, forward-looking access prices retard investment and are generally dominated by access prices determined by historical cost whenever investment is desired. JEL classification: L5; L9 Keywords: Regulation; Access pricing; Investment; Telecommunications; TELRIC

Published
2006

3. Optimal card payment systems

Author

Wright, Julian

Subjects
Debit cards -- Finance, Company financing, Business, Business, international, Economics
Abstract

This paper presents a model of a card payment system to address the pricing and roles that govern such systems. It evaluates the social optimality of privately set interchange fees and the adoption of a rule by payment systems to prevent merchants surcharging for card transactions using two extremes of merchant pricing--monopolistic pricing and perfect competition. Both types of merchant pricing constrain the ability of card schemes to use interchange fees and the no-surcharge role in anticompetitive ways, although for quite different reasons. The positive role of the no-surcharge rule in preventing excessive merchant surcharging is also highlighted. JEL classification: G21; L31; L42 Keywords: Payment systems; Banks; Credit; Debit cards; Interchange fees

Published
2003

4. Exclusive dealing with imperfect downstream competition

Author

Abito, Jose Miguel and Wright, Julian

Subjects
Contract agreement, Business, Business, international
Abstract

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.ijindorg.2006.11.004 Byline: Jose Miguel Abito (a), Julian Wright (b) Keywords: Exclusive contracts; Foreclosure; Naked exclusion; Vertical restraints Abstract: The existing literature on exclusive dealing is extended to take into account that buyers signing exclusive deals are typically competing firms that are differentiated from the perspective of their customers. We show, provided such downstream firms are not too differentiated or provided upstream firms can compete in two-part tariffs, exclusive dealing forecloses entry to a more efficient rival. An established upstream firm and competing downstream firms raise their joint profit by signing exclusive deals to protect the industry from upstream competition. Naked exclusion arises despite the Chicago School logic that buyers only sign contracts that make themselves (jointly) better off. Author Affiliation: (a) Midi-Pyrenees School of Economics, University of Toulouse, 1 Manufacture des Tabacs 31042, Toulouse Cedex, France (b) Department of Economics, National University of Singapore, 117570 Singapore Article History: Received 27 December 2005; Revised 2 October 2006; Accepted 20 November 2006 Article Note: (footnote) [star] We benefited from comments from seminar participants at the 2006 EARIE meetings, the National University of Singapore, and especially the suggestions of two anonymous referees and our editor. Any errors are exclusively our own.

Published
2008

5. Optimal currency denomination of public debt in New Zealand

Author

Fowlie, Kerryn and Wright, Julian

Subjects
New Zealand -- Finance, Public debts -- New Zealand, Monetary policy -- New Zealand, Business, Business, international, Economics, Regional focus/area studies
Abstract

A study has been made of the New Zealand public debt and of whether it should be denominated in domestic or foreign currencies. All net public debt is now in New Zealand dollars. An optimal debt portfolio should not have any nominal domestic debt. The dominance of demand or supply shocks is susceptible to the economic environment at any given time. More study will be needed to see effects of New Zealand's new economic environment on its public debt portfolio., This paper addresses the issue of whether New Zealand's public debt obligations should be denominated in domestic or foreign currency. Using the tax-smoothing approach of Bohn (1990), we estimate optimal [...]

Published
1997

6. Multihoming and compatibility

Author

Doganoglu, Toker and Wright, Julian

Subjects
Business, Business, international
Abstract

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.ijindorg.2005.07.004 Byline: Toker Doganoglu (a), Julian Wright (b) Keywords: Multihoming; Compatibility; Network effects; Standards; Two-sided markets Abstract: When competing firms make their services compatible, consumers enjoy greater network benefits. These benefits can also be realized if firms remain incompatible and consumers multihome by purchasing from each of the firms. We find that such multihoming may be a poor substitute for compatibility. Multihoming weakens competition and introduces costs that firms do not internalize. As a result, multihoming can increase the social desirability of compatibility, while making compatibility less attractive for firms. Surprisingly, policymakers should generally be more concerned about the lack of compatibility when multihoming is present. Our results extend to two-sided markets. Author Affiliation: (a) Center for Information and Network Economics, University of Munich, Germany (b) Department of Economics, National University of Singapore, Singapore Article History: Received 26 February 2004; Revised 3 November 2004; Accepted 17 July 2005 Article Note: (footnote) [star] We would like to thank two anonymous referees and our editor, Simon Anderson, for their very helpful comments.

Published
2006

7. Price structure in two-sided markets: Evidence from the magazine industry

Author

Kaiser, Ulrich and Wright, Julian

Subjects
Periodicals, Periodical publishing, Business, Business, international
Abstract

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.ijindorg.2005.06.002 Byline: Ulrich Kaiser (a)(b)(c), Julian Wright (d) Keywords: Two-sided markets; Magazine markets; Advertising Abstract: We present and estimate a model of competition in a two-sided market: the market for magazine readership and advertising. Using data on magazines in Germany, we find evidence that magazines have properties of two-sided markets. The results are consistent with the perception that prices for readers are 'subsidized' and that magazines make all their money from advertisers. Consistent with advertisers valuing readers more than readers value advertisements, our results imply that higher demand on the reader side increases ad rates, but that higher demand on the advertising side decreases cover prices. Author Affiliation: (a) University of Southern Denmark at Odense, Department of Business and Economics, Campusvej 55, 5230 Odense M, Denmark (b) Centre for European Economic Research, Mannheim, Germany (c) Centre for Economic and Business Research, Copenhagen, Denmark (d) Department of Economics, National University of Singapore, AS2 Level 6, 1 Arts Link, Singapore 117570, Singapore Article History: Received 10 March 2004; Revised 5 November 2004; Accepted 30 June 2005

Published
2006

8. Multihoming and compatibility

Author

Doganoglu, Toker and Wright, Julian

Subjects
Business enterprises -- Services, Business enterprises -- Customer relations, Business, Business, international
Abstract

A study examines the impact of multihoming in the absence of compatibility of services of competing firms.

Published
2006

9. Price structure in two-sided markets: evidence from the magazine industry

Author

Kaiser, Ulrich and Wright, Julian

Subjects
Magazine advertising -- Growth, Magazine advertising -- Forecasts and trends, Periodicals -- Market size, Company growth, Market trend/market analysis, Business, Business, international
Abstract

A study develops a model of competition to examine the readership and advertisement of magazines.

Published
2006

10. Bargaining over Interconnection: The Clear-Telecom Dispute

Author

CARTER, MICHAEL and WRIGHT, JULIAN

Subjects
CLEAR Communications Ltd. -- Cases, Telecom Corporation of New Zealand Ltd. -- Cases, Telecommunications services industry -- Cases, Antitrust law -- Cases, Business, international, Economics
Published
1999

11. Testing the Expectations Theory of the Term Structure for New Zealand

Author

Guthrie, Graeme, Wright, Julian, and Yu, Jun

Subjects
United States. Federal Reserve Board -- Influence, New Zealand -- Economic aspects, Interest rates -- Economic aspects, Rational expectations (Economics) -- Research, Business, Business, international, Economics, Regional focus/area studies
Abstract

This paper tests the rational expectations theory of the term structure using recent daily, weekly, and monthly observations on New Zealand interest rates. We find that for many maturities we cannot reject the expectations hypothesis using both short and long versions of the theory. These results are interpreted as further evidence that the failure of the expectations hypothesis in the United States is due to the specific interest rate smoothing behaviour of the Federal Reserve., 1. Introduction The rational expectations hypothesis of the term structure is one of the fundamental building blocks of financial and macroeconomic theory. It has important implications for predicting future movements [...]

Published
1999

12. Changes to the taxation of family discretionary trusts

Author

O'Connor, Damian and Wright, Julian

Subjects
Discretionary trusts -- Laws, regulations and rules, Taxation -- Laws, regulations and rules, Government regulation, Business, international
Abstract

By Damian O'Connor and Julian Wright The interaction between trust law and tax law has long been a source of ongoing confusion for those who use family discretionary trusts to [...]

Published
2011

13. The future of an Australian carbon tax

Author

Muscillo, Michele, Ricketts, Ben, and Wright, Julian

Subjects
Carbon taxes -- Laws, regulations and rules, Prime ministers -- Powers and duties, Global temperature changes -- Laws, regulations and rules, Government regulation, Business, international
Abstract

By Michele Muscillo (Partner), Ben Ricketts (Solicitor) and Julian Wright (Solicitor) With the ongoing focus on climate change globally, it seems inevitable that the Australian government will move to introduce [...]

Published
2010

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