The standard economic model for analyzing tarffic congestion, due to A.A. Walters, incorporates a relationship between speed and traffic flow. Empirical measurements indicate a region, known as hypercongestion, in which speed increase with flow. We argue that this relationship is unsuitable as a...

We present a simulation model designed to determine the impact on congestion of policies for dealing with non-recurrent congestion (i.e. travel time uncertainty).

In this paper, we analyze the dynamic behaviour of employment and hours worked per worker in a stochastic general equilibrium model with a matching mechanism between vacancies and unemployed workers. The model is estimated for the United States using the Generalized Methods of Moments (GMM)...

Water availability is a key biophysical factor determining agricultural production potential. The FAO crop water response model AquaCrop was developed to estimate crop production under water limiting conditions. This model uses the normalized water productivity, WP* (gm−2d−1), to estimate...

In this article, an extensive study of the no-arbitrage fee for Guaranteed Minimum Withdrawal Benefit (GMWB) variable annuity riders is carried out. The value of the GMWB guarantee increases substantially when taking into account the separation of mutual fund fees and the fees earmarked for...