Global Imbalances are mainly featured by the massive and long-lasting U.S. trade deficit. Since the Breton Woods system collapsed and was replaced by the Jamaica Agreement, the U.S. trade deficit has been lasting for about 40 years. This paper proves that permanent global imbalances can be...

Using dynamic heterogeneous panel data models, this paper estimates short- and long-run fiscal elasticities with respect to various cyclical factors for more than 90 countries. We find the terms of trade are significant in explaining primary fiscal revenues. Moreover, revenue elasticities with...

Along with China becoming an upper-middle-income country from a lower-middle-income one after 2009, the happiness inequality in China has been enlarged. Based on the Chinese General Social Survey (CGSS) database (2003-2012), this paper investigates the determinants of the happiness inequality in...

The process of the evolution trajectory of the management logistics function is tracked in the context of the theory and practice of a networked approach to supply chain management (SCM). Issues around the main competitive forces are driving reforms in deregulation, globalisation, and...

Model Predictive Control (MPC) has recently found wide acceptance in industrial applications, but its potential has been much impeded by linear models due to the lack of a similarly accepted nonlinear modeling or databased technique. Aimed at solving this problem, the paper addresses three...

The collapse of the Californian electricity market system in 2001 has highlighted urgency in research in intelligent electricity trading systems and strategies involving both suppliers and customs. In their trading systems, power generation companies under the new electricity trading arrangement...

Assessing fiscal sustainability – i.e. considering whether or not a country can maintain its current fiscal policies without running into solvency problems and possible default – requires projections on a government's future revenue stream, expenditures and contingent liabilities within a...

The objective of this study is to examine the market valuation of environmental capital expenditure investment related to pollution abatement in the pulp and paper industry. The total environmental capital expenditure of $8.7 billion by our sample firms during 1989-2000 supports the focus on...