Alexander Galetovic

Estimando la Demanda Residencial por Electricidad en Chile: El Consumo es Sensible al Precio

We estimate the demand for electricity by households in Chile. We use a monthly panel of 18 distribution companies, which starts in January 1995 and runs through december 2001. The one-month price elasticity of demand is -0.0548 and -0,39 in the long run.

Renégociation des partenariats public-privé : théorie et données factuelles

Les partenariats public-prive (PPP) sont des structures de financement complexes qui impliquent d’importants couts de transaction et necessitent souvent plusieurs centaines de pages de documentation juridique. Malgre le soin apporte a leur etablissement, leur renegociation est monnaie courante, ce qui peut influer sur leur rentabilite. On ignore toutefois si cela tient a l’impossibilite de prevoir tous les cas de figure dans un contrat, ou a des raisons plus prosaiques.

The Economics of Public-Private Partnerships: When and How to Implement PPPs

This book seeks to answer three questions: When are PPPs the best way to provide and finance infrastructure? How should PPP contracts be designed? What is the appropriate governance structure for PPPs? The answers depend on the type of infrastructure facility and on the institutional conditions in the country (or municipality, state, or province) in question. Nevertheless, several guiding principles emerge from the material we have covered in this book. In this final chapter we take stock of the various issues and speculate about the future of public-private partnerships. Institutions In this book, we have defined a PPP as an arrangement by which a private firm (the concessionaire, usually a special purpose vehicle or SPV) sinks a substantial upfront investment to build, revamp, or acquire an existing infrastructure facility that provides services to the public. As repayment for the capital, maintenance, and operating costs, the firm receives user fee revenues, government transfers, or a combination of both during the life of a long-term contract. At the end of the concession the facility is returned to the state.