Showing 1 - 10 of 155
This paper describes the current state of the Macedonian electricity sector. It looks at ongoing structural changes …, driven by the gradual adoption of the EU acquis on energy, and comes up with estimates for electricity subsidies. It …
Persistent link: https://www.econbiz.de/10008839339
as consisting of the three subsectors of crude oil and natural gas production, refinery, and electricity production. It … electricity sector, and inefficient government subsidies in the latter two subsectors. …
Persistent link: https://www.econbiz.de/10005604798
Driving infrastructure development, notably mobilizing financial resources for infrastructure projects, has been challenging in many countries. This study includes two parts: an empirical analysis of macroeconomic risks associated with infrastructure booms, and a case study of four emerging...
Persistent link: https://www.econbiz.de/10009203552
energy prices, we find electricity prices––relative to oil and gas––to be more important in the manufacturing process …, with a one standard deviation reduction in electricity prices leading to a 2.8 percent increase in manufacturing output …. Our estimated elasticities together with plausible reductions in electricity tariffs derived from the energy reform, could …
Persistent link: https://www.econbiz.de/10011242302
Quasi-fiscal deficits of public utility companies are common in all member countries of the Commonwealth of Independent States (CIS). They constitute a significant impediment to efficient resource allocation and endanger macroeconomic stability. This paper presents a simple framework for...
Persistent link: https://www.econbiz.de/10005768963
The output contractions during the initial transition stages in the Baltics and in Russia and the other CIS countries are examined across several dimensions, and the reliability of the available official statistics evaluated. The depth, length and breadth of the contractions are studied and set...
Persistent link: https://www.econbiz.de/10005263697
Electricity production is the sector with the largest share of global emissions and there are many options for … geographical potential, the complementarities between energy sources and supporting infrastructure like electricity grids and … specialized analyses. It finds that energy-economy models have strongly changed projections of the optimal electricity mix in …
Persistent link: https://www.econbiz.de/10015328380
To date, an operational measure of systemic risk capturing non-linear tail comovement between system-wide and individual bank returns has not yet been developed. This paper proposes an extension of the so-called CoVaR measure that captures the asymmetric response of the banking system to...
Persistent link: https://www.econbiz.de/10011142002
The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. This paper creates a special version of GPM that includes the four largest Euro Area (EA) countries. The EA countries are more vulnerable to domestic and external demand shocks because...
Persistent link: https://www.econbiz.de/10011242224
This paper analyzes the linkages between governance quality and country stress events. It focuses on two types of events: fiscal and political stress events, for which two innovative stress indicators are introduced. The results suggest that weaker governance quality is associated with a higher...
Persistent link: https://www.econbiz.de/10011242318