Large scale biofuel production will be possible only if significant quantities of biomass feedstock can be stored, transported, and processed in an economic and sustainable manner. Torrefaction has the potential to significantly reduce the cost of transportation, storage, and downstream...

Year-round operation of biorefineries can be possible only if the continuous flow of cellulosic biomass is guaranteed. If corn (<em>Zea mays</em>) stover is the primary cellulosic biomass, it is essential to recognize that this feedstock has a short annual harvest window (≤1–2 months) and therefore...

Trade misinvoicing should be seen as an element of de facto capital account openness. Traditional explanations for trade misinvoicing—high custom duties and weak domestic economies—are less persuasive in a world of high growth emerging markets that have low trade barriers. We construct a...

Prior to the Asian financial crisis, most Asian exchange rates were de facto pegged to the US Dollar. During the crisis, many economies experienced a brief period of extreme flexibility. A [`]fear of floating' gave reduced flexibility when the crisis subsided, but flexibility after the crisis...

India embarked on reintegration with the world econ- omy in the early 1990s. At first, a certain limited open- ing took place emphasising equity flows by certain kinds of foreign investors. This opening has had myriad in- teresting implications in terms of both microeconomics and macroeconomics....

Some emerging economies have a relatively ineffective monetary policy transmis- sion owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through...

What is the best inflation measure in India? What inflation measure is most relevant for monetary policy making in India? Questions of timeliness, weights in the price index, accuracy of food price measurement, and inclusion of services prices are relevant to the choice of measure. We show that...

In the literature on exports and investment, most productive firms are seen to invest abroad. In the Helpman et al. (2004) model, costs of transportation play a critical role in the decision about whether to serve foreign customers by exporting, or by producing abroad. We consider the case of...