The global shift to private transport is impacting on the environment in a number of ways, including increases in vehicle emissions that, in turn, contribute to the major problem of global warming and potential climate change. This suggests a need to improve strategies to encourage greater use...

This paper deals with three aspects of spectacular oil price episodes such as the one witnessed in 2008. First, the concept of temporary explosiveness is proposed as an empirical method for capturing this type of behavior. The application of a recently proposed recursive unit root test shows...