The European Emissions Trading Scheme (ETS) is a cap and trade system to curb CO2 emissions. It has caused both direct costs (CO2 allowances) and indirect costs (higher electricity prices) to energy-intensive industries. Moreover, as there is no global CO2 agreement, the ETS could distort the...

In entry-exit gas markets as they are currently implemented in Europe, network constraints do not affect market interaction beyond the technical capacities determined by the TSO that restrict the quantities individual firms can trade at the market. It is an up to now unanswered question to what...

The aim of this paper is to obtain the valuation formulas for European and barrier options if the underlying of the option contract is supposed to be driven by a fractional Brownian motion with Hurst parameter greater than 0.5. The paper is build upon the framework developed in Necula (2007) for...

This is the first study that attempts to assess the regional economic impacts of the European Institute of Innovation and Technology (EIT) investments in a spatially explicit macroeconomic model, which allows us to take into account all key direct, indirect and spatial spillover effects of EIT...

The Regional Trade Flows and Input output Data for Europe are constructed at the regional NUTS2 level with sectoral NACE2 detail and developed for spatial macroeconomic modelling and social-economic analysis for answering a wide-range of policy questions, including policies related to...

The present research has been developed within the EU FP7 VECTORS project (http://www.marine-vectors.eu/). The main scope of the project (2011 - 2015) has been to evaluate, from a multilateral perspective, drivers, pressures and vectors of changes in marine life of three main European seas...

In the age of the knowledge economy and globalisation, the skill mobility is perceived as one of the key factors for fully unlocking the human capital potential. The European Qualifications Framework (EQF) aims at increasing the workers' and learners' mobility among the EU Member States by...

We present a simple approach to transform a deterministic numerical model, where several agents simultaneously make decisions, into a stochastic model. This approach, which builds on scenario aggregation, a numerical method developed to solve decision problems under uncertainty, is used to build...

In this paper, we use a computable general equilibrium model (WIATEC) to study the potential impact of implementing Europe's 20-20-20 climate policy. The results show that the economic costs of implementing the policy are only moderate and within the range of recent empirical evidence....

The present research has been developed within the EU FP7 VECTORS project. The main scope of the project (2011-2015) has been to evaluate, from a multilateral perspective, drivers, pressures and vectors of changes in marine life of three main European seas (Baltic, Western Mediterranean, North),...