In this paper the efficiency of the electricity generation portfolio of BKW, a major Swiss utility, is analyzed. By applying mean-variance portfolio theory to the current and to possible future generation mixes, efficient frontiers are derived. The analysis based on relative changes in generation costs is complemented by an actual costs analysis. Moreover, a method that takes into account physi...

This paper reassesses the burden of the current U.S. international tax regime and reconsiders well-known welfare benchmarks used to guide international tax reform. Reinventing corporate tax policy requires that international considerations be placed front and center in the debate on how to tax corporate income. A simple framework for assessing current rules suggests a U.S. tax burden on foreign...

Let R be a real closed field. An integer part I for R is a discretely ordered subring such that for every r ∈ R, there exists an i ∈ I so that i ≤ r < i+ 1. Mourgues and Ressayre [11] showed that every real closed field has an integer part. In [6], it is shown that for a countable real closed field R, the integer part obtained by the procedure of Mourgues and Ressayre is ∆ωω (R). We would like ...

The dissertation focuses on the study of environmental policies and their impacts on the power systems’ planning. It consists of three parts, each of which addresses a single problem on environmental policies and generation expansion planning. In the first part of the dissertation, I compared the capand-trade policy and various carbon tax policies in a single period under the generation expansi...

Research into the generation of plans using knowledge based techniques is now maturing and nding practical application in the commercial industrial and defence sectors This has led to a rapid expansion in the last couple of years of investment in this area Ways to represent plans which have emerged from the research have been found to be of bene t in a number of areas even when the generation o...

Another feature is the large and growing share occupied by the government. Government financial institutions also have specialized business areas, such as export and import, overseas investment, development, small businesses, agriculture, forestry and fisheries, and housing. Post offices absorb funds through postal savings, insurance schemes and pension plans (see Chart 1 , llOrganization Chart...

Employers have moved away from traditional defined benefit pension plans to defined contribution plans such as 401(k)s. As a result, many individuals are now required to make their own retirement saving and investment decisions, which has raised concerns about their ability and desire to handle these decisions. Since investment choices have major implications for future financial welfare, it is...