The displacement impacts of wind power generation on other generation technologies are estimated for Ontario. In addition, their annual financial benefits, costs, and international stakeholder impacts are measured. For every 100 MWh generated, almost 53 MWh of gas output and 23 MWh of hydro...

This study uses an ex-post evaluation of the grid-connected wind projects in Ontario, Canada, to quantify the stakeholder impacts of such renewable energy projects. Our study includes a financial, economic and stakeholder analysis of these wind farms. The analysis sheds light on the...

This study develops a generalized evaluation framework that can be used to quantify the financial, economic, stakeholder, and environmental impacts of renewable energy support programs. The application of this framework is demonstrated by evaluating the Feed-In Tariff (FIT) program for solar...

This paper develops a framework for a financial, economic, and stakeholder analysis of a residential rooftop solar net-metering program. The empirical focus of the paper is the net-metering program in Ontario, Canada, but the methodology is applicable to evaluating other public programs. The...

The Province of Ontario has had an aggressive program of introducing wind electricity generation technologies into its generation supply mix. This, combined with the rigid baseload production by nuclear and hydro plants, has for 20 years created a surplus baseload electricity supply. Pumped...

This paper establishes a theoretical model to examine the LOLR policy when a central bank cannot distinguish between solvent and insolvent banks. We study two cases: a case where the central bank cannot screen insolvent banks and a case where the central bank can only imperfectly screen...

This paper studies contagion and market freezes caused by uncertainty in financial network structures and provides theoretical guidance for central banks. We establish a formal model to demonstrate that, in a financial system where financial institutions are interconnected, a negative shock to...

When a central bank implements the LOLR policy in a financial crisis, bank creditors often infer a bank's quality from whether or not it borrows from the central bank. We establish a formal model to study the optimal LOLR policy in the presence of this signaling effect, assuming that the central...

This paper is aimed at providing advice to young Australian Politicians and Policy Analysts. The paper explains common dangers in policy formulation and implementation. It also explains the usual political pressures that distort policy formulation and common sources of policy failures.

The conventional discussion of the international financial crisis that erupted in the summer of 2007 is that few professional economists saw it coming, nor anticipated its ferocity in devastating the US and European economies and financial systems, leading to civil unrest and fears of greater...