Biofuels are meant to be an environmental friendly alternative for the use of fossil fuels. Thisidea led to the use of subsidies in order to support their production and use. In the USA, the EPAis in charge of establishing mandates to obligated parties and enforcing compliance....

A carbon tax would penalize carbon intensive fuels like gasoline and shiftfuel consumption to less carbon intensive alternatives like biofuels. Since biofuelproduction competes for land with agriculture, a carbon tax could raiseland rents, divert land towards fuel production, and raise...

We employ an open economy general equilibrium model to investigate the effects of government energy policy, with emphasis on corn-based ethanol, on the U.S. economy. The model specification incorporates world and domestic markets, assumes pollution costs from fuel consumption, and allows...

This paper derives a method to quantify the short- to medium-run impact of biofuel on fuelmarkets, assuming that these markets are dominated by cartel of oil-rich countries, and that pricesin these countries are set to maximize the sum of domestic consumer and producer surplus, leadingto a wedge...

While the recent commodity price crisis brings questions regarding the general developement path of the CAP since 1992, this paper envisages returning to Rooseveltian recipes, after modernization.

Transition from planned to a market economy is an evolutionary process. Evolutions do not have finite beginning and ending points. We may look to the beginning of transition in 1991 when the Soviet Union broke up, or we may see it as beginning earlier, when the Soviet Union began to allow its...

In the early 1990s, the United States began to run a significant trade deficit with China due to the dual forces of greater trade liberalization and China’s transition from a command economy towards a market economy. Proponents of free trade with China argue that greater integration will lead...

The concept of trust has recently been rediscovered, especially in the fields of economic sociology and organization theory. Nevertheless, the actual functioning of trust in markets has only been understood incompletely up to now. As this paper argues, one reason for this is that...

The young market economies of the states in Central and Eastern Europe (CEE) are knocking at the door of the EuropeanUnion. This led public and economic discussion to a debate on the question, if, considering the relative economicunderdevelopment of the reform countries compared with the...