This paper examines some of the effects that the emergence of the United Kingdom as a major oil producer, together with the pursuit of firm financial policies as part of an antiinflationary strategy, has had on the U.K. economy and, in particular, on the real exchange rate of the pound sterling,...

The hypothesis that price expectations exercise at least a partially independent influence on actual price behavior is empirically tested. The method used, which differs from earlier analyses, quantifies data from qualitative price surveys to derive an explicit time series of price expectations....

The discussion on the promotion of biofuels is ambiguous: on the one hand benefits like reduction of greenhouse gas emissions and increase of energy supply security are expected, on the other hand low effectiveness with respect to reducing greenhouse gas emissions and high costs are being...

This paper argues that effective competition in reformed wholesale electricity markets can only be achieved if the following six prerequisites are met: (1) separation of the grid from generation and supply; (2) wholesale price deregulation; (3) sufficient transmission capacity for a competitive...