Search results for "RICE"
showing 10 items of 2331 documents
Local Green Power Supply Plants Based on Alcohol Regenerative Gas Turbines: Economic and Environmental Aspects
2020
Growing economies need green and renewable energy. Their financial development can reduce energy consumption (through energy-efficient technologies) and replace fossil fuels with renewable ones. Gas turbine engines are widely used in transport and industry. To improve their economic attractiveness and to reduce harmful emissions, including greenhouse gases, alternative fuels and waste heat recovery technologies can be used. A promising direction is the use of alcohol and thermo-chemical recuperation. The purpose of this study is to estimate the economic efficiency and carbon dioxide emissions of an alcohol-fueled regenerative gas turbine engine with thermo-chemical recuperation. The carbon …
The effects of competitiveness on trade balance: The case of Southern Europe
2016
AbstractAccording to conventional wisdom, “peripheral” Southern European members of the euro area (Greece, Italy, Portugal and Spain) suffer from a problem of competitiveness. Since their membership of the euro area renders devaluation impossible, adjustment should come through decreasing wages and prices in these countries, which, by improving the trade balance, should lead to a recovery of previous levels of employment and growth. In this paper, the authors estimate trade balance equations for the Southern European countries, both for total trade and for the trade performed with the European Union, taking three alternative measures of the real exchange rate, based on consumption price ind…
Trade balances and exchange rates in the long run for European Union countries
2000
This paper has found evidence that real effective exchange rates have a positive impact on the trade balance in the long run for major European Union countries. This result sheds more light on the long-run statistical relationship between those two variables, at least in the context of the Community. The existence of that link is sustained by the effects that income variables have on the trade balance. The outcomes of this analysis in support of a long-run equilibrium relationship are consistent with the imperfect substitutes model, confirming the validity of this model for economic policy implementation purposes. Low, long-run elasticities of the trade balance with respect to the real effe…
The determinants of increasing equity market comovement: economic or financial integration?
2010
This paper investigates to what extent the substantial increase in exposures of local European equity market returns to global shocks is mainly due to a convergence in cash flows (“economic integration”), to a convergence in discount rates (“financial integration”), or to both. We find that this increased exposure is nearly entirely due to increasing discount-rate betas. This finding is robust to alternative ways of calculating discount-rate and cash-flow shocks.
Survey on the innovation in the Sicilian grapevine nurseries
2012
This paper deals with quality innovation in the grapevine nursery sector. The vegetative propagation of grapevines, scarcely considered by economic research, is the first step in the wine production chain as it influences both the type and the quality of wines as well as the quality and quantity of the performance of farm investments.This paper gives the results of a study carried out through a structural analysis of both national and regional grapevine nurseries and then through a direct survey of the largest Sicilian nurseries. The survey covers the main structural and productive issues as well as the commercial aspects of eight Sicilian grapevine nurseries and their innovative investment…
Spillovers from the oil sector to the housing market cycle
2017
We assess the spillovers from the oil sector to the housing market cycle using quarterly data for 20 net oil-exporting and -importing industrial countries, and employing continuous- and discrete-time duration models. We do not uncover a statistically significant difference in the average duration of booms and normal times in the housing markets of those net oil-importers and net oil-exporters. Similarly, the degree of exposure to commodity price fluctuations does not seem to significantly affect the housing market cycle. However, we find that housing booms are shorter when oil prices increase than housing busts when oil prices decrease. We also show that the net oil-importers are more vulne…
Environmental Benefit of Improving Wastewater Quality: A Shadow Prices Approach for Sensitive Areas
2018
The use of effluents from wastewater treatment plants (WWTPs) as a non-conventional source of water for wetlands in arid and semi-arid regions is becoming the most-often sought solution for maintaining water flow in sensitive wetlands there. However, the managing effluent quality should be a requirement because excess nutrients (mainly nitrogen and phosphorus) can generate eutrophication problems in wetlands. In the Mediterranean area in general, wetlands are strongly vulnerable to eutrophication, which is why they are classified as sensitive areas. Our study uses a data set from 24 WWTPs, effluents of which are discharged to wetlands in the coast of Community of Valencia. We use the shado…
Market efficiency and price discovery relationships between spot, futures and forward prices: the case of the Iberian Electricity Market (MIBEL)
2016
ABSTRACTThis paper analyses the relationships between prices from three different markets within the Spanish zone of the Iberian Electricity Market (MIBEL), namely futures, spot and over the counter (OTC) forward markets. The study focuses on three items: (i) contrasting the Weak-form efficiency hypothesis of the markets involved in the study, (ii) analysing the Semi-strong-form efficient market hypothesis (EMH) of the MIBEL futures market and (iii) examining the price discovery relationships between the series of prices of the considered markets.The empirical results confirm that 1-month-, 1-quarter-, 1-year-ahead futures and spot markets satisfy, generally, the Weak-form efficiency hypoth…
Do Carbon Traders Behave as a Herd?
2017
Abstract This paper shows the existence of herding behavior in the European Carbon Futures Market and studies its possible causes and consequences. This market is characterized by leading the carbon price discovery process and by being highly dominated by professional traders. Both features make it an appropriate environment for the existence of herding. A patterns analysis indicates that the herding level increases in speculative periods, on those days on which the price and size clustering effect is stronger, and with the arrival of carbon-related news. Regarding possible market drivers, we find that herding behavior is positively related with the number of trades, the intraday volatility…
Noise traders and smart money: Evidence from online searches
2019
International audience; Traditional finance theory considers that the impact of noise traders' attention on asset prices is offset by attention from smart investors. This paper uses online search data to study the influence of noise traders and smart investors on stock returns and volatility. Adopting an original approach, we construct a proxy for smart investor attention based on investors' online search behavior provided by Wikipedia Page Traffic. We combine this new measure with a standard measure of noise traders' attention as proxied by Google Search Volume Index. We show for a sample of 87 French firms over the period 2008–2018 that only noise traders' attention influences stock retur…