There has been a wide discussion on the different properties between carbon taxes, cap-and-trade schemes and hybrid instruments such as cap-and-trade schemes with price floors and ceilings. There has been less discussion on the incentives to investment that each of these instruments may provide....

This study specifies and estimates a gravity model for inter-provincial migration in Indonesia. Using panel data for Indonesia’s 26 provinces for 5 survey years between 1930 and 2000 we show that throughout the twentieth century economic factors were more important in the explanation of...

High crude oil prices and the eventual decline of conventional oil production raise the issue of alternative fuels such as non-conventional oil. The paper describes a simple probabilistic model of the costs of synthetic crude oil (SCO) produced from Canadian oil sands. Synthetic crude oil is...

As developing countries seek to improve their economic prospects, electricity reform has been widely viewed as a central part of this effort.While the focus of most research to date has been at economy or utility level; there has been much less research on regional outcomes. India presents a...

Traditionally, research has been devoted almost exclusively to estimation of underlying structural models without adequate attention to the drivers of diffusion and interaction across cross section and spatial units. We review some new methodologies in this emerging area and demonstrate their...

While much of the literature on cross section dependence has focused mainly on estimation of the regression coefficients in the underlying model, estimation and inferences on the magnitude and strength of spill-overs and interactions has been largely ignored. At the same time, such inferences...

This paper argues that factor demand linkages are crucial in the transmission of both sectoral and aggregate shocks. We show this using a panel of highly disaggregated manufacturing sectors together with sectoral structural VARs. When sectoral interactions are explicitly accounted for, a...

Marketing communication is a vital strategic tool for religious organizations to achieve competitive differentiation. The determinants of religious organizations’ use of direct and indirect communication channels offers valuable insights into their modus operandi. This paper uses novel primary...

Experimental analyses have identified significant tendencies for individuals to follow herd decisions, a finding which has been explained using Bayesian principles of statistical inference. This paper outlines the results from a herding task designed to extend these analyses. Empirically, we...

The transparency and openness of the monetary policymaking process at the Bank of England has provided very detailed information on both the decisions of individual members of the Monetary Policy Committee and the information on which they are based. In this paper we consider this decision...