Showing 1 - 10 of 144
The paper examines the relationship between UK wholesale gas prices and the Brent oil price over the period 1996-2003. Tests for Unit Roots and Cointegration are carried out and it is discovered that a long run equilibrium relationship between UK gas and oil prices predates the opening of the...
Persistent link: https://www.econbiz.de/10005556400
Asian Pacific region. The recent growth in oil consumption, combined with forecasts of increased oil imports (especially … of China’s energy sector, emphasising the strong growth in its energy demand to date and its potential for future growth …
Persistent link: https://www.econbiz.de/10005118931
agrarian stages. We explain this rise-and- fall pattern of slavery in a growth model with land and labor as inputs in … agents own their labor. In this process, the role of population growth switches from being a force driving the transition …
Persistent link: https://www.econbiz.de/10005125014
We set up a unified growth model capturing the transition of a primitive and egalitarian hunter-gatherer society, into … human capital productivity and pushing the economy to sustained growth: an industrial revolution. Allowing also for a …
Persistent link: https://www.econbiz.de/10005556717
disease, on human capital investment decisions and income growth. This research is particularly relevant to Sub-Saharan Africa … given the dramatic reduction in life expectancy due to HIV/AIDS and the potential lasting effects on growth. Our results … indicate that as life expectancy shortens so does schooling inducing a lower growth rate of income. These relationships are …
Persistent link: https://www.econbiz.de/10005118675
We study non-linear Markov perfect equilibria in a two agent linear quadratic differential game. In contrast to the literature owing to Tsutsui and Mino (1990), we do not associate endogenous subsets of the state space with candidate solutions. Instead, we address the problem of unbounded-below...
Persistent link: https://www.econbiz.de/10005125611
If an economic system has a regime switch, then we could assume that the preferences have remained basically the same, but that only the state of information has changed. An alternative view is that there has been a shift of preferences, as for example individual persons can change their mind...
Persistent link: https://www.econbiz.de/10005556121
the poverty of objects and the lack of ideas, as central to economic growth rate differences across economies, have … enriched economic growth theory. However, both object- idea gaps, and factor-force specialization do not make explicit intra … growth. Economies with strong positive resource intra- and inter-actions produce more output than others. In fact, intra- and …
Persistent link: https://www.econbiz.de/10005556726
Eco-efficiency of production is an important concept both from the viewpoint of society and business community; but as yet, there is no unambiguous way to its measurement. The purpose of this paper is to present a general measurement framework based on production theory and the activity analysis...
Persistent link: https://www.econbiz.de/10005119199
This paper looks at the evolution of the terms of trade between commodities and manufactures in the twentieth century. A statistical analysis of the relative price series for 24 commodities and of eight indices reveals a significant deterioration in their barter terms of trade over the course of...
Persistent link: https://www.econbiz.de/10005119305