With the rapid growth of photovoltaic (PV) systems, stringent standards are envisaged to ensure the safe and efficient generation of power. Therefore, the performance of maximum power point tracking (MPPT) element in PV system under dynamic environmental conditions is very crucial. Hence, this...

This chapter examines the long-run evolution of modern entertainment industries such as the film and music industries. It investigates ways to conceptualise and quantify the subsequent waves of creative destruction, and investigates specifically how sunk costs affect the evolution of the...

A classic result in dynamic public economics states that there is no welfare rationale for pay-as-you-go (PAYG) pensions in a dynamically-efficient neoclassical economy with exogenous labor supply. Parenthetically, a welfare justification for PAYG pensions exists if the economy is dynamically...

The aim of this paper is to discuss the role of the elasticity of capital-labor substitution on the local determinacy properties of the steady state in a two-sector economywith CES technologies and sector-specific externalities

This article analyzes the functioning of the EU ETS based on the detailed information of the EU emissions registry for the three year period of Phase I (2005-2007). The analysis reveals that the level of verified CO2 emissions has been bellow the amount of assigned units for 152 million tonnes...

We interpret privatization in light of corporate governance theory. After replicating some traditional tests, we test our new model on a sample of privatized French firms. We cannot confirm for French privatizations the positive effect on overall static and dynamic efficiency of the firm...

A considerable amount of the value may be recouped by consumers only towards the end of the lifecycle. Elements affecting the distribution of social surplus vary across disease areas and include the market pricing structure and the pattern of clinical effectiveness observed over time. The...

Dynamic efficiency has received much less attention than the effectiveness and static efficiency criteria to assess policies to support electricity from renewable energy sources (RES-E). On the other hand, the literature on RES-E support shows that the choice of design elements within RES-E...

The English and Welsh water and sewerage industry is characterised by indivisible capital which has a long service life. Previous studies of efficiency for the English and Welsh water and sewerage industry take a static framework, assuming all inputs can be adjusted instantaneously. This paper...