Now showing items 21-30 of 56
Choice experiment study on the willingness to pay to improve
Modern forms of energy are an important vehicle towards poverty alleviation in rural areas of developing countries. Most developing countries’ households heavily rely on wood fuel which impact their health and social–economic ...
Economic Growth and Electricity Consumption in 12 European Countries: A Causality Analysis Using Panel Data
We apply recent panel methodology to investigate the relationship between electricity consumption and real GDP for a set of 12 European Union countries using annual data for the period 1970-2004. Recently developed tests ...
Quesnay and Leontief on Capital and Income
I analyze Quesnay's explanation of the "Tableau Economique" of 1766 in order to show that he made a clear distinction between capital and income. In holding this distinction, Quesnay rejected the nowadays currently accepted ...
A Fundamental Contradiction in Keynes' Conception of Income
I contend that Keynes provides two contradictory definitions of aggregate income. According to the first definition, which is the dominant in Keynes as well as the standard in current Macroeconomics, the full value of ...
Selection of the number of frequencies using bootstrap techniques in log-periodogram regression
The choice of the bandwidth in the local log-periodogram regression is of crucial importance for estimation of the memory parameter of a long memory time series. Different choices may give rise to completely different ...
Switching Equilibria: The Present Value Model for Stock Prices Revisited
This paper analyzes the different dynamic features displayed by alternative RE equilibria and how these features change for small perturbations of the dividend process parameters. Using historical US data and structural ...
International and Intergenerational Dimensions of Climate Change: North-South Cooperation in an Overlapping Generations Framework
Global environmental problems such as climate change have both an international and an intertemporal dimension. Recently, some papers have used an overlapping generations framework to analyze the climate change problem ...
Egalitarian distributions in coalitional models: The Lorenz criterion
The paper presents a framework where the most important single-valued solutions in the literature of TU games are jointly analyzed. The paper also suggests that similar frameworks may be useful for other coalitional models.
Income risk of EU coal-fired power plants after Kyoto
Coal-fired power plants may enjoy a significant advantage relative to gas plants in terms of cheaper fuel cost. Still, this advantage may erode or even turn into disadvantage depending on CO2 emission allowance price. This ...
The Relationship between Risk and Expected Return in Europe
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-01)
We employ MIDAS (Mixed Data Sampling) to study the risk-expected return trade-off in several European stock indices. Using MIDAS, we report that, in most indices, there is a significant and positive relationship between ...