This paper estimates a new measure of liquidity costs in a market driven by orders. It represents thecost of simultaneously buying and selling a given amount of shares, and it is given by a single measure of ex-ante liquidity that aggregates all available information in the limit order book for...

Systematic liquidity shocks should affect the optimal behavior of agents in financial markets. Indeed, fluctuations in various measures of liquidity are significantly correlated across common stocks. Accordingly, this paper empirically analyzes whether Spanish average returns vary...

This paper re-examines the determinants of mutual fund fees paid by mutual fund shareholders for management costs and other expenses. There are two novelties with respect to previous studies. First, each type of fee is explained separately. Second, the paper employs a new dataset consisting of...

The energetic value as end product is among several benefits from effective waste management programs at intensive feedlots. It is increasing around the world since organic waste is a source of environmental pollution. The biogas can be obtained from simple to complex scale anaerobic digesters....

Mexico City has for years experienced high levels of ozone and particulate air pollution. In 1995-99 the entire population of the Mexico City metropolitan area was exposed to annual average concentrations of fine particulate pollution (particulates with a diameter of less than 10micrometers, or...

Obstacles to clean technology development, innovation and diffusion are not only related to the lack of internalisation of environmental externalities in production costs, as defended by traditional environmental economics. Empirical studies show that many other obstacles prevent these...

Obstacles to clean technology development, innovation and diffusion are not only related to the lack of internalisation of environmental externalities in production costs, as defended by traditional environmental economics. Empirical studies show that many other obstacles prevent these...