Federal highway grants to states appear to boost economic activity in the short and medium term. The short-term effects appear to be due largely to increases in aggregate demand. Medium-term effects apparently reflect the increased productive capacity brought by improved roads. Overall, each...

The paper embeds the canonical rational expectations competitive storage model into a general equilibrium framework thereby allowing the nonlinear commodity price dynamics implied by the competitive storage model to interact with the broader macroeconomy. The paper's main result is that the...

We examine the effects of unconventional and conventional monetary policy announcements on the value of the dollar using high-frequency intraday data. Identifying monetary policy surprises from changes in interest rate futures prices in narrow windows around policy announcements, we find that...

The recovery from the recent global financial crisis exhibited a decline in the synchronization of Asian output with the rest of the world. However, a simple model based on output gaps demonstrates that the decline in business cycle synchronization during the recovery from the global financial...

This paper presents the development and use of an optimisation model suitable for analysis of biofuel production scenarios in the EU, with the aim of examining second generation biofuel production. Two policy instruments are considered – targeted biofuel support and a CO2 cost. The results...

A country level spatially explicit mixed integer linear programming model has been applied to identify the optimal Fischer Tropsch biodiesel production plants locations in Finland. The optimal plant locations with least cost options are identified by minimizing the complete costs of the supply...

The objective of this study is to analyze the in situ BECCS capacity for green-field bioenergy plants in South Korea. The technical assessment is used to support a policy discussion on the suitability of BECCS as a mitigation tool. We examined the technical potential of bioenergy production from...

We examine the dynamic macroeconomic effects of public infrastructure investment both theoretically and empirically, using a novel data set we compiled on various highway spending measures. Relying on the institutional design of federal grant distributions among states, we construct a measure of...