Similar Search Results

Maximum Likelihood Estimation of Fixed Effects Dynamic Panel Data Models Covering Short Time Periods

Hsaio, Cheng; Pesaran, M. Hashem; Tahmiscioglu, A. Kamil - Faculty of Economics, University of Cambridge - 1998

A transformed likelihood approach is suggested to estimate fixed effects dynamic panel data models. Conditions on the …

Persistent link: https://www.econbiz.de/10005783800

On The Panel Unit Root Tests Using Nonlinear Instrumental Variables

Im, K.S.; Pesaran, M.H. - Faculty of Economics, University of Cambridge - 2003

This paper re-examines the panel unit root tests proposed by Chang (2002). She establishes asymptotic independence of … series are cross sectionally dependent. She claims that her non-linear instrumental variable (NIV) panel unit root test is … valid under general error cross correlations for any N (the cross section dimension) as T (the time dimension of the panel …

Persistent link: https://www.econbiz.de/10005113752

Does Weather Have an Impact on Electricity Distribution Efficiency? Evidence from South America

Anaya, Karim L.; Pollitt, Michael G. - Faculty of Economics, University of Cambridge - 2014

This paper analyses the influence of weather variables on the efficiency of electricity distribution utilities in Argentina, Brazil, Chile and Peru. The data covers 82 firms that operate in the previously mentioned countries which represent more than 90 per cent of the distribution market of...

Persistent link: https://www.econbiz.de/10010949352

Fuel Panics - insights from spatial agent-based simulation

Upton, Eben; Nuttall, William J. - Faculty of Economics, University of Cambridge - 2013

The United Kingdom has twice suffered major disruption as a result of fuel panics first in September 2000 coincident with a wave of fuel protests and more recently in March 2012 following politcal warnings of possible future supply chain disruption. In each case the disruption and economic...

Persistent link: https://www.econbiz.de/10010700222

Technology Choices for New Entrants in Liberalised Markets: The Value of Operating Flexibility and Contractual Arrangements

Roques, F.A. - Faculty of Economics, University of Cambridge - 2007

New entrants in liberalised electricity markets which are not vertically integrated and do not operate a large and diversified portfolio of generation technologies are likely to favour technologies which offer the best prospects to manage fuel and electricity price risks through contractual...

Persistent link: https://www.econbiz.de/10005113777

Using Probabilistic Analysis to Value Power Generation Investments Under Uncertainty

Roques, F.A.; Nuttall, W.J.; Newbery, D.M. - Faculty of Economics, University of Cambridge - 2006

This paper reviews the limits of the traditional ‘levelised cost’ approach to properly take into account risks and uncertainties when valuing different power generation technologies. We introduce a probabilistic valuation model of investment in three base-load technologies (combined cycle...

Persistent link: https://www.econbiz.de/10005113802

Modelling the costs of non-conventional oil: A case study of Canadian bitumen

Méjean, A.; Hope, C. - Faculty of Economics, University of Cambridge - 2008

High crude oil prices, uncertainties about the consequences of climate change and the eventual decline of conventional oil production raise the issue of alternative fuels, such as non-conventional oil and biofuels. This paper describes a simple probabilistic model of the costs of...

Persistent link: https://www.econbiz.de/10005647351

Nuclear Power: a Hedge against Uncertain Gas and Carbon Prices?

Roques, F.A.; Nuttall, W.J.; Newbery, D.M.; de Neufville, R. - Faculty of Economics, University of Cambridge - 2005

High fossil fuel prices have rekindled interest in nuclear power. This paper identifies specific nuclear characteristics making it unattractive to merchant generators in liberalised electricity markets, and argues that non-fossil fuel technologies have an overlooked ‘option value’ given fuel...

Persistent link: https://www.econbiz.de/10005647463

Copula Based Monte Carlo Integration in Financial Problems

Sancetta, A. - Faculty of Economics, University of Cambridge - 2005

A computational technique that transform integrals over RK, or some of its subsets, into the hypercube [0, 1]K can be exploited in order to solve integrals via Monte Carlo integration without the need to simulate from the original distribution; all that is needed is to simulate iid uniform [0,...

Persistent link: https://www.econbiz.de/10005650535

Non-nested Hypothesis Testing: An Overview

Pesaran, M. H.; Weeks, M. - Faculty of Economics, University of Cambridge - 1999

In econometric analysis, non-nested models arise naturally when rival economic theories are used to explain the same phenomenon, such as unemployment, inflation or output growth. The authors examine the problem of hypothesis testing when the models under consideration are ‘non-nested’ or...

Persistent link: https://www.econbiz.de/10005489349