This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focuses on...

I study strategy-proof assignment mechanisms where the agents reveal their preference rankings over the available objects. A stochastic mechanism returns lotteries over deterministic assignments, and mechanisms are compared according to first-order stochastic dominance. I show that non-wasteful...

Corporate managers and executive compensation in many industries place significant emphasis on measures of firm size, such as sales revenue or market share. Such objectives have an important yet thus far unquantified impact on market performance. With n symmetric firms, equilibrium welfare...

This study documents two empirical facts using matched employer-employee data for Denmark and Portugal. First, workers who are hired last, are the first to leave the firm. Second, workers’ wages rise with seniority (= a worker’s tenure relative to the tenure of her colleagues). The...

This study explores and quantifies the benefits of connecting more distributed generation (with and without the use of smart connections) across different parties (Distribution Network Operators, wider society and generators). Different connection scenarios are proposed (with partial and full...

What causes ‘gas wars’ between Russia and Ukraine? In this paper I argue that contract disputes in the eastern European gas sector are specific instances of a broader set of phenomena: bargains over strategically important resource issues outside of any international framework to facilitate...

The Great East Japan earthquake and tsunami on March 11th 2011 caused mass destruction, significant loss-of-life and a large displacement of people. It also placed significant strain of Japan’s electricity-generating infrastructure. There was a significant reduction in capacity due to the...

An increasing block tariff (IBT) has been implemented nationwide in the residential sector in China since July 2012 as part of a process towards liberalizing electricity prices. However, knowledge about IBT design is still limited, particularly how to determine the electricity volume for the...

Since 2008 UK energy regulator Ofgem has imposed increasingly severe restrictions on suppliers to the domestic (residential) retail market. Initially, non-discrimination conditions aimed to “remove unfair price differentials”, particularly between suppliers’ prices between regions,...

Cheap, abundant and easy to transport and store, coal has been produced and consumed to meet people’s energy needs. The last decade’s growth in global coal use has been driven mainly by developing economies like China, whose phenomenal economic growth has been powered by coal-fired...