the process-technology progress which is caused by the improvement of the productive technologies can reduce the demands of the intermediate inputs in the productive process, and then reduce the energy demands and the carbon emissions. Thus, to improve the level of process technologies is an...

Indonesia’s economy is getting more integrated with the global economy. Potential impact of global economy shocks to domestic economy propagated through trade channel and financial channel are increasingly pronounced. Risk of sudden reversal following large capital inflows poses a serious...

Quebec’s forests represent 20% of the Canadian forest and 2% of world forests. They play a major role for habitat preservation, supplying goods and services to the population and hence contribute to the economy of this Canadian province. Climate change will have an impact of the forest through...

A Common Economic Area (CEA) formed by Russia, Kazakhstan and Belarus since January 1st 2012, following creation of the Customs Union between these countries in 2007 (and in operation since mid-2010), raises a number of topical questions on whether it can be sustainable, trade-stimulating,...

In this paper we develop a model of the urban economy, where the commercial sub center of a city, goes in competition with a peripheral sub center. We consider both centers to be in a spatial asymmetric duopoly, where both centers need to compete for customers and employees. Competition takes...

Rationale: Macroeconomic stabilization inconsistencies with output growth, inflation and exchange rate volatility has made the Nigeria economy susceptible to external shocks. Scholars with this opinion agree that it distorts optimal productivity capacity, induce volatility in domestic output,...

The standard vector error correction (VEC) model assumes the iid normal distribution of disturbance term in the model. This paper extends this assumption to include GARCH process. We call this model as VEC-GARCH model. However as the number of parameters in a VEC-GARCH model is large, the...

Regional GDP is a key indicator in the assessment of the economic performance of the Belgian regions. But for assessing the wealth of a certain region, another important indicator is the household disposable income.In this paper the evolution since 1985 and the level of regional per inhabitant...

For oil producing countries it is important to share rationally oil revenues between current expenditure and savings. The purpose of this paper is to study what impact will have change of the oil revenues accumulation on the dynamics of macroeconomic indicators.Modeling of dynamic stochastic...

In September 2013, the EU Parliament has called for a 6% limitation of crop-based biofuels (instead of 10% initially) and proposed a 2.5% binding incorporation target for cellulosic biofuels by 2020. In spite of this stated objective, the horizon of a large-scale adoption for advanced biofuels...