The standard literature on working time has modelled the decisions of firms in a deterministic framework in which firms can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we follow the real options approach, which allows us to investigate the...

This paper employs monthly data on China's net oil import from January 1997 to June 2010 to assess the role of China's net import in the evolution of the crude oil price. Based on a vector autoregression (VAR) analysis, we find that the growth of China's net oil import has no significant impact...

The paper studies the benefit incidence of fuel subsidies in Nigeria household sector. Combining annual subsidy estimates with the households' expenditure data from the 2009/10 Harmonized Living Standard Survey, we investigate how the benefits from fuel subsidies are accrued to each income...

This study draws upon a large national survey of Chinese public cognition and attitude towards climate change and analyze the determinants of consumers' WTP for energy-efficient and environment-friendly products. 85 percent of respondents indicate that they are willing to pay at least 10 percent...

This paper investigates the effect of uncertainty on the investment decisions of petroleum refineries in the US. We construct uncertainty measures from commodity futures market and use data on actual capacity changes to measure investment episodes. Capacity changes in US refineries occur...

This paper examines whether, and to what extent, the spot LNG markets in different regions (East Asia, Iberia, Northwest Europe, and South America) are integrated and how market integration evolves over time. We first lay out a framework of market integration in the context of global LNG market...