The main purpose of this paper is to document the differences in the cost of capital in Belgium across electricity generation companies, depending on whether they rely on traditional thermal sources or on RES. The average results are quite surprising and in sharp contrast with the results...

The implementation of Gary Beckers (1965) time allocation model is ham-pered by the fact that values of the di¤erent time uses are usually not observed.In practice, one often assumes that the value of time is uniform across time usesby using market wages. This approach implies a fundamental...

Survey data on expectations and economic forecasts play an important role in providing better insights into how economic agents make their own forecasts, what factors do affect the accuracy of these forecasts and why agents disagree in making them. Uncertainty is also important for better...

This paper incorporates a global bank into a two-country business cycle model. The bank collects deposits from households and makes loans to entrepreneurs, in both countries. It has to finance a fraction of loans using equity. We investigate how such a bank capital requirement affects the...

We estimate the parameters of an elliptical distribution by means of a multivariate extension of the Method of Simulated Quantiles (MSQ) of Dominicy and Veredas (2010). The multivariate extension entails the challenge of the construction of a function of quantiles that is informative about the...

The present paper discusses the role of quality in patent systems from the perspective of patent offices'behavior and organization. After documenting original stylized facts, the paper presents a model in which patent offices set patent fees and the quality level of their examination processes....