This paper examines the interdependence between imperfect competition and emis-sions trading in a two-sector (clean and dirty) economy. We compare the welfare implica-tions of an absolute cap-and-trade scheme (permit trading) with a relative intensity-basedscheme (credit trading). We nd...

This paper examines the interdependence between imperfect competition and emis- sions trading in a two-sector (clean and dirty) economy. We compare the welfare implica- tions of an absolute cap-and-trade scheme (permit trading) with a relative intensity-based scheme (credit trading). We nd...

There have been sharp movements in productivity growth in the euro area and in the United States recently, upwards in the former and downwards in the latter, which seem to be partly due to structural developments.

Taking as reference the long-wave theory, in this paper we try to give a fully endogenous explanation of the factors triggering the technological revolutions – one of the main causes of a new long upswing. We extend the traditional macro and meso economic analysis by presenting a behavioural...