A frequently encountered problem in import demand estimation is how to account for competition between imports and domestic production. Traditionally, use of the Armington model has been a way to handle this problem. This is a disaggregate model which distinguishes commodities by country of...

During the last two decades there has been a tremendous growth in the production of intensively farmed fish. This growth has been accompanied by a substantial reduction in prices. As this enhances the competitiveness of farmed fish, concerns are often raised with respect to the market impact of...

During the last decade, Value-at-Risk (VaR) has become the most common tool to measure the exposure to short term financial risk for companies in the oil industry, in common with most other sectors. However, VaR has been criticized after the financial crisis for providing too optimistic risk...

This paper investigates the economic value of trade when prices of transportation services are endogenous to cross-market price spreads. This is relevant for liquefied natural gas (LNG) exports. LNG transportation capacity is limited in the short-run, and long lead-times are involved in...