The concept of multicointegration introduced by Granger and Lee (1989) has been little used in economics. This paper demonstrates how it can find a useful application in the econometric analysis of global climate change. Time series models of global climate change tend to estimate a low climate...

Edith Penrose was one of the first scholars to point out that firms may need to rely on research joint ventures (RJVs) to acquire access to resources that can help them achieve and sustain a competitive advantage. We estimate an econometric model of the propensity of firms to disclose their...

This paper argues that resources constitute the fundamental area of overlap between the interests of input-output economists and industrial ecologists. Three misconceptions about input-output economics obscure this fact: the frequent failure to utilize combined quantity and price input-output...

This paper presents new evidence on the practice of industrial Research and Development (R&D), especially the allocation between learning and internal research, and the role of outside knowledge, as represented by R&D spillovers, in reshaping this allocation. The evidence describes the sources...

We present evidence on the relative efficiency of U.K. university technology transfer offices (TTOs) using data envelopment analysis (DEA) and stochastic frontier estimation (SFE). We find that U.K. TTOs exhibit low levels of absolute efficiency. Universities located in regions with higher...

In October 2001, the U.K. government implemented a dramatic shift in the taxation of gambling, resulting in a substantial decline in taxes levied on U.K. bookmakers. Using data before and after this event, we present econometric evidence on the demand response to this tax reduction. Our results...

This chapter focuses on metals as they provide the clearest example of the challenges and opportunities that mineral resources present to society, in terms of both primary production and recycling. Basic concepts, information requirements and sources of consumer and industrial resource demand...

We develop the absorbing Markov chain (AMC) for describing in detail the network of paths through an industrial system taken by an embodied resource from extraction through intermediate products and finally consumer products.  We refer to this as a resource-specific network. This work builds on...

This paper incorporates EGARCH modeling in a financial event study relating firm value to negative environmental news. News media provide informal information channels unlike formal government disclosure programs. This paper improves on previous studies by using a larger sample than most...

The oil of the Persian Gulf has been of considerable interest to oil companies and Western governments (and to Russia) for more than a century. Remaining global conventional crude oil resources are on the order of 3 trillion barrels, with more than 50% of that amount in the Persian Gulf. Since...