This paper proposes a real option capacity expansion model for power generation with several technologies that differ in operation and investment costs. The economy is assumed perfectly competitive and the instantaneous payoff accruing from the generation system is the instantaneous welfare...

This paper analyses the impact of China on the export performance of Italy and Germany to their main trading partners in the OECD markets. Given a strong specialization in the manufacturing sector, these two countries are exposed to China’s competition. Italy, with a productive structure based...

Direct country comparisons on the effect of citizenship are rare. The aim of this paper is to analyse the citizenship effect on both employment probabilities and the relative income of work of immigrants in two countries, Canada and Sweden. We ask 'Is there a citizenship effect and if any, in...

A crisis of governability has engulfed the world's industrialized democracies. It is not coincidental that the United States, Europe, and Japan are simultaneously experiencing political breakdown. Rather, globalization is a common culprit. Across the West's open societies, globalization is...

We empirically analyze the host-country determinants of Chinese outbound foreign direct investments (ODI) in the period from 2003 to 2008, using disaggregated data by country and sector and distinguishing between State-owned enterprises (SOEs) and privately owned firms. Our results show that the...

The aim of this paper is to look at economic aspects of citizenship and compare states offering naturalisation to investors. By analysing different investor citizenship programs, the paper highlights the normative tension between those states that seek to maximize their economic utility and...

It is puzzling today to explain both the diversity and the rationale of regulators' practice vis-à-vis network monopolies. We argue that two fundamental characteristics should be considered when defining the most appropriate regulatory tools. First, it is the bounded endowment of regulators set...

The European Union (EU) external cooperation in the migration field has been mostly developed in Eastern Europe. Indeed, the EU migration cooperation with Russia and Eastern Partnership countries has so far had outcomes in the issue areas of readmission, visas, border management and even labour...

The European Union’s enlargement towards the Western Balkans may be facing its most difficult challenge since its launch in Zagreb in 2000. The prospect of Balkan enlargement has been hard-hit by the deterioration of the European economy, and particularly the Greek sovereign debt crisis. The...

Demand response is a cornerstone problem in electricity markets under climate change constraint. Most liberalized electricity markets have a poor track record at encouraging the deployment of smart meters and the development of demand response. In Europe, different models are considered for...