This paper uses the nationally representative Albanian Living Standards Measurement Survey from 2005 to investigate the determinants of life satisfaction. In common with much of the existing empirical economics literature that models life satisfaction (or subjective well-being) this paper...

The relation between aid and tax has been largely debated in the literature, given its far-reaching consequences: the presence of a crowding-out effect of aid on domestic revenue would seriously impair the sustainability of the development process. This paper explores this relation by adopting a...

Quantile kernel regression is a flexible way to estimate the percentile of a scholar’s quality stratified by a measurable characteristic, without imposing inappropriate assumption about functional form or population distribution. Quantile kernel regression is here applied to identifying the...

We employ Monte Carlo analysis to determine the distribution of returns for various electricity generation technologies. Costs and revenues for each technology are arrived by means of a sophisticated unit commitment and economic dispatch algorithm. The results show that small amounts of coal...

The concept of total factor productivity (TFP) and its measurement have been of interest to researchers for more than half a century, and are intensively discussed topics in debate on economic growth1. This chapter discusses the different problems related to methodologies for estimating TFP at...

I estimate the cost of meeting the EU 2030 targets for greenhouse gas emission reduction, using statistical emulators of ten alternative models. Assuming a first-best policy implementation, I find that total and marginal costs are modest. The statistical emulators allow me to compute the risk...

This paper is an attempt to understand the mechanism which is thought to be an economic growth interaction between Capital Account Liberalization (CAL) and financial instability. The effect of financial capital liberalization is investigated through a discussion of two main channels of economic...

Palm oil production potentially affects environment, food security and rural development in Indonesia. However, there is little research on the welfare impacts of the production expansion. By using district level data on palm oil production and area planted and national household survey...

The transition from autocracy to democracy may lead a country to break-up. The break-ups of the USSR and Yugoslavia led to sharp falls in emissions. If something similar would happen in China, projected emissions would fall by 50% or more. Break-up uncertainty dominates other scenario uncertainty.

We develop a climate-economy model with active learning. We consider three ways of active learning: improved observations, adding observations from the past and improved theory from climate research. From the model, we find that the decision maker invests a significant amount of money in climate...