This paper uses a gravity model to examine the effect of time differences between countries on international trade. It builds on previous studies of this issue by including a wider set of control variables, focusing on a longer time period, and testing a series of related hypotheses. The results...

In this paper we investigate the optimal supply function for a generator who sells electricity into a wholesale electricity spot market and whose profit function is not smooth. In previous work in this area, the generator’s profit function has usually been assumed to be continuously...

In this paper we investigate the optimal supply function for a generator who sells electricity into a wholesale electricity spot market and whose profit function is not smooth. In previous work in this area, the generator’s profit function has usually been assumed to be continuously...

We lay out alternative ways of melding measures of absolute and relative deprivation in an index of overall deprivation, exploring the choices the analyst faces in this enterprise. The indices derived are used to answer two important empirical questions. First, did overall deprivation fall in...

Economic theory predicts that wage and income levels will be higher in those developing countries to which business travel and telecommunication from developed countries is cheaper and easier. Cross-country regression analysis, using data from the World Tourism Organisation and the method of...

This paper uses econometric estimates of the link between aid and economic growth to ask how much additional aid is required to meet the Millennium Development Goal of halving global poverty by 2015, and how this aid should be allocated across countries. It first shows that a large increase in...

This paper asks whether it is possible to identify, using purely statistical criteria on widely available quantitative data, a set of developing countries that can be classified as poor performers. We restrict attention to two performance indicators, economic growth and infant mortality, over...