Energy is one an important class of traded commodities. The particular feature of energy is that about 85% of energies consumed are produced from non-renewable sources. While the structure of energy market is complex, in general we have competitive markets. Some exceptions like OPEC cartel in...

Russian gas exports play a crucial role in political discussions today. This paper argues that the European strive for energy diversification at present is economically inefficient, given the nearby resources and existing or committed transport network to Russia. Furthermore, this present...

The aim of the paper is to analyse the evolution of house prices in Barcelona using a theoretical and empirical framework. Housing is a durable good which involves both consumption and investment components. We develop a model that explains the long-run equilibrium relationship between prices to...

The goal of this paper is to link models of urban formations (urban studies) with models of housing rent. While housing market models are essentially static, model of urban formation is presented in dynamic set up. The driving force for dynamics comes from migration theory and includes chain...

The goal of this work is to suggest a mechanism explaining different spatial patterns of residential locations. The basic idea is counterbalance of centripetal and centrifugal forces. This paper complements the previous author's works in this area. This article addresses the following questions:...

Housing market combines the properties of consumption and investment good. The present paper is devoted to the empirical analysis of an interaction between housing and financial markets, and all results will be for Barcelona city as an area of research. We study the relationship between housing...

Urban economic literature usually focuses on Central Business District model, which explains rental gradient around city center and is based on assumption that agents are dispersed in space, but all work in one point. The basic idea of the present model is that jobs exist in all point of...

The aim of the paper is to analyse the evolution of house prices in Barcelona using a theoretical and empirical framework. Housing is a durable good which involves both consumption and investment components. We develop a model that explains the long-run equilibrium relationship between prices to...

If some of the returns to migration accrue from return migration, the optimal duration of migration may be shorter than the feasible duration of migration. We develop a model that provides and highlights conditions under which return migration takes place even though a reversal of the...