The middle and long-term forecasts of the economy for transition countries is an important challenge in order to understand better the effects of anticipated changes. During the accession negotiation between Bulgaria and the EU the continuation of the Kozloduy Nuclear Power Plant was a major...

The middle and long-term forecasts of the economy for transition countries is an important challenge in order to understand better the effects of anticipated changes. During the accession negotiation between Bulgaria and the EU the continuation of the Kozloduy Nuclear Power Plant was a major...

A small open economy operates a carbon emission trading scheme and subsidizes green energy. Taking cap-and-trade as given, we seek to explain the subsidy as the outcome of a trilateral tug of war between the ‘green’ energy industry, the ‘black’ energy industry and consumers. With...

Las sendas entrelazadas de la transformación industrial y la autonomía tecnológica han incidido en el crecimiento económico de Colombia. La leve aceleración económica del período 1925-1979 se relaciona con la industrialización nacional. Y la desaceleración económica a partir de 1980,...

This paper reviews empirical research on the impact of government capital spending on economic growth. The pros and cons of five different ways to model the relationship between public investment and economic growth are reviewed, while some estimation results are presented for illustrative...

The economic slowdown experienced in Colombia since 1980 is explained by the structural stagnation of the national economy and the escalation of violence associated with the expansion of drug trafficking. The available data do not reject this hypothesis. The article sustains that...

In this article, we investigate the causality links between CO2 emissions, foreign direct investment, and economic growth using dynamic simultaneous-equation panel data models for a global panel of 54 countries over the period 1990–2011. We also implement these empirical models for 3 regional...

The standard approach to the economics of climate change, which has its best known implementation in Nordhaus's DICE and RICE models (well described in Nordhaus's 2008 book, A Question of Balance) is not well equipped to deal with the possibility of catastrophe, since we are unable to evaluate a...

To assess how capital stocks adapt to energy price changes, it is necessary to account for the impacts on different vintages of capital and to account separately for price-induced and autonomous improvements in the energy efficiency of capital stock. The results of econometric analysis for five...

In times series data, energy use does not change much with energy price changes. However, energy use is responsive to international differences in energy prices in cross-section data across countries. In this paper we consider a model of energy use in which production takes place at individual...