For the policy makers at national level it is important to know how effective energy policies and measures are, and in particular how much energy has been saved. This is especially important for the European Union Member States which have to contribute towards the EU 2020 energy saving target of...

We investigate whether the Fiscal Theory of the Price Level (FTPL) can explain UK inflation in the 1970s. We confront the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an alternative Orthodox model; the models have a reduced...

I construct an estimable statistic that predicts whether a financial innovation will spread. The approach embeds the multi-host SIR model from epidemiology within a financial model of correlated securities trade; and takes advantage of the related predictive tools from mathematical epidemiology,...

We study dynamic panel data models where the long run outcome for a particular cross-section is affected by a weighted average of the outcomes in the other cross-sections. We show that imposing such a structure implies several cointegrating relationships that are nonlinear in the coefficients to...

In case of a natural catastrophe there is an increased demand for skilled labor and materials which in turn leads to significant price increases that should be taken into account in the forecast of catastrophe losses. Such price effects are referred to as "Demand Surge" effects. The paper at...