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Korean Version |
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Abstract
In this paper, I develop dynamic stochastic optimizing models for public utility charges, taking into account the actual behavior of individual public utility charges in Korea. The compensation rate for the total average cost has been greater than one only for public utility services provided to households, reflecting government's regulations on public utilities. The analysis of this paper opens the possibility that existing dynamic pricing models with nominal price rigidity can be extended to explain the actual behavior of public utility charges in Korea. |
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Keywords Public Utility Charges; Nominal Price Rigidity Model, Public Utility Regulations |
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JEL classification codes E31, L97 |
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