How can a systemic risk early warning system (EWS) facilitate the financial stability work of policymakers? In the context of evolving financial market dynamics and limitations of microprudential policy, this study examines new directions for financial macroprudential policy. A flexible...

The discussion and conclusions of Thredbo's Workshop 3 are summarized. History and the socio-economic environment is a condition that should be considered as a most important fact when moving into planning public transportation. Contradictory targets should be identified and avoided a priori....

This paper uses qualitative and comparative analysis to reveal two important findings. First, in France, if the aim of reform announced by the Minister is to re-build the SNCF's monopoly, our fear is that, instead of stimulating French railways, this will cause a downward slide in the sector by...

This article aims to estimate the informational rents earned by winning bidders in oil and gas exploration and production auctions in Brazil. We estimate the distributions of bids and bidders' private valuations using a nonparametric structural model and assuming independence and asymmetry...

The energy industry is facing substantial challenges that require the fostering of innovation. In this paper we analyse the main drivers of R&D investment and obstacles to innovation in this industry. We examine, firstly, whether the stated R&D objectives pursued by firms play a role in their...

Energy storage technologies can provide services to the electricity grid that are necessary for its usability, stability, and reliability. The services, such as power factor correction and renewable energy arbitrage, are defined by duration, cycling occurrence, power, and market price. Storage...

The paper describes the integration between what used to be a passive element of the energy value chain – the grid – and both upstream and downstream elements. The evolution of communications among the elements has permitted a more robust and adaptable structure that already is being...

Based on extensive qualitative research, this article analyzes the governance of competition in European railways and relates this to their performance via five case studies covering the Netherlands, France, Germany, Sweden and the UK. Even though some trends can be identified, such as...