This paper provides an extensive Monte-Carlo comparison of severalcontemporary cointegration tests. Apart from the familiar Gaussian basedtests of Johansen, we also consider tests based on non-Gaussianquasi-likelihoods. Moreover, we compare the performance of these parametrictests with tests...

This paper provides an empirical description of the relationshipbetween the trading system operated by a stockexchange and the transaction costs faced by heterogeneous investors who use the exchange. Therecent introduction ofSETS in the London Stock Exchange provides an excellent opportunity...

This report is part of an annual series from the Clean Energy Technology Observatory that address the status of technology development and trends, value chains and markets in the European Union and internationally. The present report aims to provide an overall integrated analysis of the clean...

The energy sector accounts for the lion's share (55 %) of greenhouse gas emissions in the European Union (EU). While EU emissions had fallen by 22.1 % in 2015 compared with 1990, and continue to fall, the bloc's economy grew by 27 % over that period. Since the Renewable Energy Directive (RED)...