Hydropower optimization includes market prices, the plant-specific technological constraints and the environmental operation constraints set by the regulator. An efficient environmental flow regulation should consider both the improved ecological state of the river system (benefit) and the loss...

Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export sales and exporting probabilities but also makes exports less sensitive to trade policy; (ii) the most productive exporters are more affected by higher industry-wide expenditure...