in macroeconomic studies, social welfare is assumed as a function of inflation and unemployment. although the social welfare function which is dependent to unemployment and inflation variables has been used widely in macroeconomic theories, but this relation needs to be tested through empirical observations. this paper, using variables such as to economics of happiness area and subjective wellb...

There is a large potential for biomass-based renewable energy production Colombia which mostly remains untapped, accounting marginal 0.8% of the electricity production. Moreover, Córdoba department with important developments in agriculture and agroindustry, where significant amounts biomass wastes are generated. In total, these have yearly 548 use anaerobic digestion, 1,159 GWh per year using ...

The study employs modified interactive models and lead-lag models to investigate the correlation between corporate social performace (CSP) and financial performance (CFP) of listed companies in China. The samples are 1228 in both 2005 year and 2006 year, 1251 in the period of 20052006, and 1577 in both 2009 year and 2010 year, 1603 in the period of 2009-2010 year. The serious empirical research...

Using firm age as a proxy for the learning process within a firm, we show that the investments of young firms react more aggressively to profit realizations than the investments of mature firms. With time, firms learn about their long-term quality and their investment decisions become less influenced by the random shocks they receive. We also show that the learning process depends on the volati...

This paper presents results from an integration project covering Danish models based on bottom-up and top-down approaches to energy]economy modelling. The purpose of the project was to identify theoretical and methodological problems for integrating existing models for Denmark and to implement an integration of the models. The integration was established through a number of links between energy...

This paper estimates the causal relationships between energy consumption and income for India, Indonesia, the Philippines and Thailand, using cointegration and error-correction modelling techniques. The results indicate that, in the short-run, unidirectional Granger causality runs from energy to income for India and Indonesia, while bidirectional Granger causality runs from energy to income for...

This paper compares two second-generation dynamic energy demand models, a translog Ž . Ž . TL and a general Leontief GL , in the study of price elasticities and factor substitutions of nine Swedish manufacturing industries: food, textiles, wood, paper, printing, chemicals, non-metallic minerals, base metals and machinery. Several model specifications are tested with likelihood ratio test. There...

This paper examines whether domestic and foreign productivity and fiscal policy changes can account for the wide swings in US net exports during the period 1975]1991. A two-country Real Business Cycle model is used for that purpose. The model is simulated using data on productivity, government purchases and taxes, for the G7 countries. A version of the model with incomplete asset markets, in wh...

Ž . One of the expected benefits of membership of the Exchange Rate Mechanism ERM was a reduction in risk which should lead to a lower cost of capital and foster investment and growth. Using the APT, we investigate the behavior of the equity market risk premium for the London Stock Exchange prior to and during sterling’s membership of the ERM. We find that prior to and during the first year of ...

This paper attempts to elucidate whether firm performance and macroeconomic conditions play a significant role in explaining credit default swap (CDS) spreads. Our panel dataset covers 112 reference entities in four markets (South Korea, Hong Kong, France, and Germany) for the period 2001-12. Overall, our results suggest that market value indicators (Tobin’s Q, stock market returns, and the int...