The paper investigates the efficient extraction path in a partial equilibrium model with exhaustible resource, the usage of which is characterized by return flows, and a backstop to analyze the sequence of the resource use. It is shown that in the presence of users with different return flow...

In this study, stochastic frontier analysis with a time-varying panel data model was applied to analyse short- and long-run cost functions; the short- and long-run cost efficiencies of rice farms in Taiwan from 1980 to 2008 were measured by treating five size classifications in 15 counties in...

The main originality of this paper is to empirically investigate the long-run relationship between average regional water consumption and its determinants. To do so, we use quarterly non-stationary panel data covering the six Tunisian regions for the period 1980.1 to 2007.4 and a breakdown into...

In this paper we examine the Environmental Kuznets Curve (EKC) hypothesis using the Ecological Footprint (EF), a more comprehensive indicator of environmental degradation, through a time-series analysis for seven Latin American countries covering the 1961-2007 period. We first test the EKC...

Choke price data from the 2001 and 2006 National Survey of Fishing, Hunting and Wildlife-Associated Recreation (FHWAR) is used to construct welfare measures for wildlife-watching trips. Findings from an Oaxaca-Blinder decomposition analysis showed them to be temporally reliable which favors...

To evaluate the social welfare of climate stabilization policy from perspectives of cost–benefit analysis in a optimal economic growth framework based on macroeconomic theory, the purposes of this study are to show theoretically that the equivalent variation is divisible into a...

This paper tested the effects of the 2005 vehicle emission-control law issued in Japan on the market linkages between the U.S. and Japanese palladium futures markets. To determine these effects, we applied a cointegration test both with and without break points in the time series and found that...

Analyzing a dynamic general equilibrium model that incorporates endogenous and directed technical change and environmental constraints, Acemoglu et al. (2012) present thought-provoking discussions on green growth and environmental disaster. For the clarity of argument, they place a restriction...

Real investments involving irreversibility and ambiguity embed a positive quasi-option value under ambiguity (q.o.v.a.), which modifies the evaluation of an investment decision involving depletion of natural resources by increasing the value of delaying. Q.o.v.a. depends on the specific...

In this paper we examine the time series properties of nine non-renewable resources. In particular we are concerned with understanding the relationship between the number of structural breaks in the data and the nature of the resource price path, i.e. is it stationary or a random walk. To...