This chapter reviews a range of issues relating to tradable carbon dioxide (CO2) emission quotas (TEQs). It considers the economic principles on which they are based, compares them with alternative carbon abatement policies, and reviews many aspects of how tradable quotas would be implemented in practice. Section 2.2 sets the scene, explaining why these issues are on the agenda and how they rel...

International trade has been playing an extremely significant role in China over the last 20 years. This paper is aimed to investigate and understand the relationship between China’s macro-economy and oil price from this new perspective. We find strong evidence that the increase of China’s price level resulting from oil price shocks is statistically less than that of its main trade partners’. T...

This paper evaluates the impact of the positive terms of trade (TOT) Shock on macroeconomic variables, using panel data for the six OPEC major oil exporting countries during 1989-2005. The findings indicate that the positive TOT shocks have the small and negative impact on savings and on the trade balance. Nevertheless, it has a positive impact on investment (specifically private investment) an...

Background and objectives: Food poisoning has been always a major concern in health system of every community and cream-filled products are one of the most widespread food poisoning causes in humans. In present study, we examined the preservative effect of the cinnamon oil in cream-filled cakes. Methods: Antimicrobial activity of Cinnamomum verum J. Presl (Cinnamon) bark essential oil w...

EPA is in the process of regulating U.S. greenhouse gas (GHG) emissions using its powers under the Clean Air Act. The likely next phase of this regulatory program is performance standards under Section 111 of the act for coal plants and petroleum refineries, which the agency has committed to finalize by the end of 2012. Section 111 appears to allow use of flexible, market-based regulatory tools...

This paper analyzes optimal hedging of a tradable risk (e.g. price risk or exchange rate risk) with forward contracts in the presence of untradable in ation risk. Utility is de ned over real wealth. Optimal forward positions are derived relative to a given initial exposure in the tradable risk. A nominally unbiased forward market usually implies a non-zero real risk premium and hence some risk ...

Abstract: Rodrik (2008) claims that weak institutions hurt the development of the tradable sector more than that of the nontradable sector and that undervaluation can foster growth by diminishing the distortion created by weak institutions between the two sectors. Using the International Country Risk Guide (ICRG) dataset on four components of institutional quality, we consider the effects of in...

United States power in Persian Gulf has risen since the end of Second World War. Dividing U.S. presence in the Region into the Cold war and post-Cold war era, the principle policy in first period was narrowing the impact of Soviet Union in the Region and in latter, Access to Persian Gulf region’s oil and controlling the major threats which can disrupt the flow of oil to global energy market. Fo...