This book develops a dynamic programming framework for the analysis of firms' joint investment and market exit decisions and reviews methods for econometric estimation of such models. In an empirical application of this framework, a version of this model that allows for financial constraints is...

A ruling party decides each of two periods on the level of public goods which it finances by means of taxation and internal debt. The debt has to be honoured by the government of the second period. Between the two periods elections take place, which may change the ruling party. The book analyzes...

The volume provides a thorough analytic treatment of recent environmental policy problems. All papers discuss these problems by a rigid economic analysis of these issues. The contributions of this volume discuss the double dividend hypothesis, the role of non-profit organisations for...

The former East German economic system was restructured from a centrally-planned system into a decentralised one with private property rights. The new economic structure was put into place with the adoption of the West German legal framework and a privatisation model which focused on outsider...

This book reports modelling work within the Norwegian national research program on multi-species management. The work was concentrated on the interaction between different species in the Barents sea. The book combines contributions from different fields - fisheries biology, ecology, fisheries...

This book is concerned with the long-run effects of budgetary and financial policy on aggregate demand and supply. Here the long run is characterized by the accumulation of public debt and foreign assets. This gives rise to a number of questions. Will the long-run equilibrium be stable? What...

Institutions have both positive and negative effects on economic performance. The theoretical and empirical understanding of the roles played by institutions, norms and culture in the functioning of markets still is limited. This book contributes to a better understanding of the role played by...

This volume deals with recent aspects and developments of monetary and exchange rate policy. It offers an overall perspective of methods and questions in these fields that are currently the focus of discussion. The volume includes particular analysis and discussion of central aspects such as...

Since there exists a multi-level policy making system in the market economies, choices of decision makers at different levels should be considered explicitly in the formulation of sectoral plans and policies. To support the hypothesis, a theoretical energy planning approach is developed within...