This report assesses the key drivers, environmental pressures and some impacts from the production and consumption of energy, taking into account the main objectives of the European policy on energy and environment including: security of supply, competitiveness, increased energy efficiency and...

Public pension programmes in many OECD countries are in difficulties. With anageing population, and declining participation of working age men in paid work,existing pension arrangements are far too costly in many countries, both now and inthe future. This paper examines the evidence as to...

Eine der wichtigsten wirtschaftspolitischen Fragen des China der neunziger Jahre ist die Beziehung zwischen Zentrale und Regionen. Ursache ist die weit verbreitete Perzeption, daß zum einen sich die fiskalische Position des Zentralstaates stetig verschlechtert habe, und daß zum anderen die...

Die derzeitige Diskussion um die Reform der Gemeindefinanzen zeigt, dass die Erfüllungder kommunalen Selbstverwaltungsaufgaben mangels ausreichender finanziellerAusstattung immer stärker eingeschränkt ist. Neben den originären kommunalen Einnahmen(Gemeindeanteile an der Einkommen- und...

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In this study, we examine the relationship between the U.S. real price of oil and factors thataffect its movement over time: futures prices, the value of the dollar, exploration, demand, andsupply. All of these variables are treated as jointly endogenous and a reduced form vector errorcorrection...

While some of the recent surge of oil prices can be attributed to robust global demandat a time of tight production capacities, commentators occasionally also blame theimpact of speculators for part of the price pressure. We propose an empirical oil market model with heterogeneous speculators....

This paper analyses mutual causalities between crude oil price and euro / US dollar exchange rate. Instead of focusing on long-run macroeconomic linkages like the bulk of therelevant literature, the present approach takes a financial markets perspective using daily data. The fast-running...