Shadow price is one of the most important pieces of information in environmental decision making. Two different approaches—namely, economic and engineering—have been applied to obtain the shadow price of undesirable outputs, while using different methodological backgrounds and perspectives....

This study proposes an index for measuring environmentally sensitive productivity growth which appropriately considers the nature of technical change. The rationale of this methodology is to exclude a spurious technical regress from the macroeconomic perspective. In order to incorporate this in...

This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model...