Many new and ambitious energy efficiency and conservation laws are being enacted at all levels of government - and with greater financial incentives than provided previously. These innovations are intended to overcome or minimize market barriers such as principal-agent problems, information and...

This paper develops a model of emissions trading in which industrialized countries can exhibit a level of emissions which is more than their quota by buying emission permits from other industrialized countries (which use less than their quota) or "certified emission reductions" from developing...

We study the effectiveness of climate change policy in a model with multiple non-renewable resources that differ in their carbon content. We find that, when allowing some time between announcement and implementation of a cap on carbon dioxide emissions, emissions from non-renewable energy...

The paper investigates the IP protection in the field of biotechnology among new innovators. Incompatibilities of the development process in modern biotechnology and the current IP systems are highlighted. Development process in biotechnology is notoriously slow, characterized by long delays in...

The purpose of this study is to examine the causality between the role and importance of creating an interconnection in the implementation of development processes in agricultural areas, either in developed or less disadvantaged areas in mountain areas of the agricultural industry. It also...

This note draws an analogy between deviations from no-arbitrage forward-spot relationships in currency and in commodity markets. The key is to notice that the U.S. dollar acts as a commodity in foreign exchange (FX) markets. In the physical commodity space, if the spot price is too high relative...

Rapacious fossil fuel extraction occurs if fossil fuel producers fear that there is a probability that their under-the-ground assets becomes worth less. They show that rapacious depletion of oil reserves occurs if there is a probability of a breakthrough renewable energy coming to the market or...

Natural gas contributes a growing share of the world's energy mix. In this paper we use national-level data for a sample of 44 countries to estimate the price and income elasticities of natural gas demand. We present both single-equation results and results instrumenting natural gas prices with...

The systematic literature search on the fertility rate was performed on articles from the Web of Science compiled by the Institute of Scientific Information (ISI) to provide major publication characteristics. All articles related to Fertility from year 1980 to 2011 were analyzed with the...

Hamilton (2018) suggests that the Kilian (2009) index of global real economic activity is misleading and calls for alternative measures. The problem documented by Hamilton is a consequence of a coding mistake. Specifically, the index of nominal freight rates underlying the Kilian index was...