This paper explores the relationship between trade openness and energy consumption using data of 91 high, middle and low income countries. The study covers the period of 1980-2010. We have applied panel cointegration to examine long run relationship between the variables. The direction of causal...

In the light of global warming, this paper develops a framework to compare energy and transportation technologies in terms of cost-efficient GHG emission reduction. We conduct a simultaneous assessment of economic and environmental performances through life cycle costing and life cycle...

Since the Markowitz mean-variance framework of 1952 and the subsequent discoveries of the CAPM and the APT, finance researchers have always strived to produce a reference performance measure adjusted for risk. With such a measure, any supplemental return would be denominated as “alpha”. But...

In this article, I analyze the determinants of research production by higher education institutions in the US. I use four measures to build an index of top-level academic research production. I show that it is important to account for the presence of outliers in both dimensions (X and Y axes)...

To inform policy-making, we measured the risk, causes and consequences of catastrophic expenditures for tuberculosis and investigated potential inequities.

Taxation is a fundamental policy instrument in the hands of governments. Yet, it is often used inefficiently. Improving taxation requires reforms, but reforms are often blocked. This article reviews the literature to identify three crucial aspects of Personal Income Taxation (PIT). First, what...

This paper analyses whether the current provision of air services in Europe is impacted by high-speed rail (HSR). An ex-post analysis is carried out considering 161 routes EU-wide using transnational data. We use censored regressions with special attention paid to the presence of outliers in the...

Comparing air service growth in Amsterdam and Brussels, this paper aims to understand how the strategies of airlines and public authorities allow certain medium-sized cities to succeed in exceeding their local market by connecting passengers, while others do not. In contrast to Brussels,...

This paper examines the sources of Europe's lagging business R&D performance relative to the US, particularly the role played by missing young leading innovators in high technology intensive sectors in Europe. It investigates through econometric analysis differences in the rates of return to R&D...

Following an abrupt fall in carbon credit prices, 2012 has witnessed a disinterest on behalf of investors in the Clean Development Mechanism (CDM). In this paper, we aim to take a step back and provide an assessment of the CDM through a careful analysis of 6 instrument evaluation criteria. Our...