The Congo Basin encompasses the second largest rainforest area after the Amazon but the Congo Basin rainforest has been more preserved during the last decades with a much lower deforestation rate. At the same time, the region remains one of the least developed in the world. We use the partial...

The integration of ethanol production with combined heat and power plants is considered in this paper. An energy balance process model has been used to generate data for the production of ethanol, electricity, heat and biogas. The geographical position of such plants becomes of importance when...

Concerning production and use of biofuels, mismatch between the locations of feedstock and the biofuel consumer may lead to high transportation costs and negative environmental impact. In order to minimize these consequences, it is important to locate the production plant at an appropriate...

Local actors at community level often thrive for energy autarky to decrease the dependence on imported energy resources. We assess the potentials and trade-offs between benefits and costs of increasing levels of energy autarky for a small rural region of around 21,000 inhabitants in Austria. We...

The paper embeds the canonical rational expectations competitive storage model into a general equilibrium framework thereby allowing the nonlinear commodity price dynamics implied by the competitive storage model to interact with the broader macroeconomy. The paper's main result is that the...

Highway spending in the United States between 2008 and 2011 was flat, despite the serious need for improvements and the big boost to state highway funds from the Recovery Act of 2009. A comparison of how much different states received and spent shows that these federal grants actually boosted...

Using survey-based measures of future U.S. economic activity from the Livingston Survey and the Survey of Professional Forecasters, we study how changes in expectations and their interaction with monetary policy contribute to fluctuations in macroeconomic aggregates. We find that changes in...

Over the past two years, both monetary and fiscal policy projections have been based on the view that declines in the long-run potential growth rate of the economy will in turn push down interest rates. In contrast, examination of private-sector professional forecasts and historical data...

We examine the dynamic macroeconomic effects of public infrastructure investment both theoretically and empirically, using a novel data set we compiled on various highway spending measures. Relying on the institutional design of federal grant distributions among states, we construct a measure of...

Much has been written about prospects for US current account adjustment, including the possibility of what is sometimes referred to as a 'disorderly correction': a sharp fall in the exchange rate that boosts interest rates, depresses stock prices and weakens economic activity. This paper...