Dramatic claims have been made about the effect of shale gas discoveries in the continental U.S. on the country's energy needs. However, several industry experts question the estimated volume of recoverable reserves as well as the economic viability of producing them at current market prices for...

In theory, political risk is project‐specific and should be accounted for in the estimation of the expected investment cash flows. But in practice, the political risk associated with this type of investment is typically accounted for implicitly by adjusting the investment's required rate of...

Pete Carvey, CFO for the PKO Resources of McKinney, TX sat at his desk puzzling over the analysis just presented to him regarding an acquisition his firm was considering. Although this project seemed like hundreds of others that he had analyzed, Pete was bothered by three things: First, the...

Our objective in writing this paper is to share what we have learned about the promise of wind energy and its potential contribution to a comprehensive solution to the long-term energy needs of the U.S. economy. The immediate impetus for our interest came out of a meeting with famed oilman and...

Most of the recent literature on risk management and capital structure assumes that markets are perfect, i.e., efficient and complete. This paper presents anecdotal evidence that suggests that different capital markets (e.g., debt, equity and warrants markets) may not be perfectly integrated,...

We estimate whether migration can be an equilibrating force in the labour market by comparing pre- and post-crisis migration movements at the regional level in both Europe and the United States, and their association with asymmetric labour market shocks. Based on fixed-effects regressions using...

"Despite the fact that today's young cohorts are smaller in number and better educated than their older counterparts, high youth unemployment remains a serious problem in many OECD countries. This reflects a variety of factors, including the relatively high proportion of young people leaving...

Two trends in international migration flows have attracted much attention recently: (i) the growing feminisation of migration flows; and (ii) the increasing selectivity of migration towards the highly skilled, which in turn has given rise to renewed concerns about the brain drainʺ consequences...