In the present paper it is pointed out that government debt is an obstacle to economic growth. To my belief, the remedy to this problem is to encourage consumption and not to impose taxes onto the consumers. Because, any decrease in their wages and salaries for temporary budgetary purposes, will...

A dynamic random variables model correcting for heteroskedastic and correlated error terms over time and space and dynamic demand and using panel county data offers consistent and efficient elasticity estimates of residential electricity and natural gas demands. The model developed by Swamy...

Count data regressions are an important tool for empirical analyses ranging from analyses of patent counts to measures of health and unemployment. Along with negative binomial, Poisson panel regressions are a preferred method of analysis because the Poisson conditional fixed effects maximum...

This study uses the methods of experimental economics to investigate possible causes for the failure of the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are high enough, producers may choose to (partially) ignore the dynamic component of their production...

We study the effectiveness of climate change policy in a model with multiple non-renewable resources that differ in their carbon content. We find that, when allowing some time between announcement and implementation of a cap on carbon dioxide emissions, emissions from non-renewable energy...

Among technological options to mitigate greenhouse gas (GHG) emissions, Carbon Capture and Storage technology (CCS) seems particularly promising. This technology allows to keep on extracting polluting fossil fuels without drastically increasing CO2 atmospheric concentration. We examine here a...

An empirical test for the theory of exhaustible resources requires an estimate of the extraction rent, that generally is not observable. This paper introduces a model of exploratory and developmental oil-well drilling, with geological constraints that cap the speed of pumping oil out of the...

This chapter provides an overview of the first two decades of the Global Trade Analysis Project (GTAP) an effort to support a standardized database and computable general equilibrium (CGE) modeling platform for international economic analysis. It characterizes GTAP in four different dimensions:...

A sufficiently rapidly rising carbon tax may increase near-term emissions compared with the case of no carbon tax. Even so, such a carbon tax path may reduce total costs related to climate change, since the tax may reduce total carbon extraction. A government cannot commit to a specific carbon...