Green technological progress bears a strong potential to alleviate climate change, but its utilization is contingent on factors which are by nature impossible to anticipate or predict. Developing stochastic optimisation models, we explore how the decision to invest in research and development...

With an increasingly open economic condition in Thailand, insurance firms exposed to competition should improve efficiency to ensure their survival. This paper examines the cost efficiency and its relationship with profitability of life insurance firms: Cobb-Douglas stochastic cost frontier...

This paper re-examines the evidence on how the listing of options impacts on underlying stock’s volatility by taking into consideration the possible presence of a learning effect, along with the impact of the very endogenous nature of the options listing decision itself. Our analyses are...

Este documento de trabajo supone una contribución a la literatura reciente que documenta el aumento secular de los márgenes ponderados por las ventas en varios países. En Estados Unidos, este fenómeno ha sido impulsado por empresas grandes y productivas. Utilizando los datos detallados de la...

Artículo de revista ; This article analyses the cost of electricity for Spanish firms. This cost is compared with other expenditure by Spanish industrial firms on goods and services and with their turnover, distinguishing by firm size and sector. Generally, in the industrial sector, the ratio...

Summary of Banco de España Working Paper no. 2033