This paper addresses the impact of the CO<SUB align="right"><SMALL>2</SMALL></SUB> opportunity cost on the wholesale electricity price in the context of the Iberian electricity market (MIBEL), namely on the Portuguese system, for the period corresponding to the Phase II of the European Union Emission Trading Scheme (EU ETS). In the...</small></sub>

The increase in PV (photovoltaic) capacities in Germany had since 2011 on some days already significant impacts on spot market prices at the German electricity exchange. The core objective of this paper is to investigate the possible effects of a further uptake of PV on the prices in electricity...

We consider nonlinear transformations of random walks driven by thick-tailed innovations that may have infinite means or variances. These three nonstandard characteristics: nonlinearity, nonstationarity, and thick tails interact to generate a spectrum of asymptotic autocorrelation patterns...

In this paper, we consider nonlinear transformations of random walks driven by thick-tailed innovations with undefined means or variances. In particular, we show how nonlinearity, nonstationarity, and thick tails interact to generate persistency in memory, and we clearly demonstrate that this...

This study employs synthetic control methods to estimate the effect of the Iberian exception mechanism on wholesale electricity prices and consumer inflation, for both Spain and Portugal. We find that the intervention led to an average reduction of approximately 40% in the spot price of...

I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume...

In a two-sector-economy with real wage rigidity, we examine how technical progress in one sector affects aggregate unemployment. We show that aggregate unemployment decreases for uneven technical change in the case of Cobb-Douglas production functions. For every type of technical progress there...