Barter in Russia can be explained by firms liquidity constraint: it is strongly correlated with financial tightness. However a micro-economic analysis reveals that the rationale behind this liquidity constraint is different according to the firm situation. For firms in a good economic situation, but faced with adverse selection problem and having no access to bank credit, barter acts as a subst...

This paper analyses the optimal timing and macro-economic costs of carbon emission reductions that mitigate the global average atmospheric temperature increase. We use a macro-economic model in which there are two competing energy sources, fossil-fuelled and nonfossil-fuelled. Technological change is represented endogenously through learning curves, and niche markets exist implying positive dem...

regarding the important role of health in economic growth and development, the purpose of the present paper is to investigate the impact of life expectancy, as the most important indicator of health, on economic growth in iran during 1965-2009. the estimated smooth transition regression (str) model supports a nonlinear threshold behavior in the relationship between life expectancy and economic ...

The Bohai Economic Rim plays an important role in supporting China’s economic growth. For this research, we selected nine main ports in the region to study whether intra-port competition or corporatization would improve efficiency. Using a panel fixed effect model and stochastic frontier model, we found that the technical efficiency of selected ports is significantly influenced by the time of t...

The emergence of the so-called “European Paradox” shows that increasing Governmental R&D Investment is far from being a ‘panacea’ for stagnant growth. Surprisingly, Governmental R&D Employment does not contribute to ‘mass-market’ employment, despite its important role in reducing YouthUnemployment. Despite the negative side-effect of Governmental R&D Employment on economic growth, University R&...

The energy flow characteristics of Combined Cooling, Heating and Power (CCHP) system are analyzed in detail and the energy flow function is proposed for its two operational strategies: thermal load dominant mode and electrical load dominant mode. In order to improve its economic and environmental efficiency, an optimal economic and environmental dispatch model is built, which includes the fuel ...

This paper addresses the optimal design and planning of biomass-to-liquids (BTL) supply chains under economic and environmental criteria. The supply chain consists of multisite distributed-centralized BTL processing networks. The economic objective is measured by the total annualized cost, and the measure of environmental performance is the life cycle greenhouse gas emissions. A bi-criterion, m...

In order to maintain the stability and security of the power system, the uncertainty and intermittency of wind power must be taken into account in economic dispatch (ED) problems. In this paper, a dynamic economic dispatch (DED) model based on chance constrained programming is presented and an improved particle swarm optimization (PSO) approach is proposed to solve the problem. Wind power is re...