An econometric model on bilateral trade in education using an augmented gravity model

Directory of Open Access Journals (Sweden)

Christina Tay

2014-05-01

Full Text Available Purpose: Trade in education has become one of the most important trades for many economies. Yet, studies of education as a trade are scant owing to the conventional view of it being non-tradable. The purpose of this paper is to econometrically investigate trade in education using a nexus of international trade theories and the gravity model, one of the most widely used models in international trade in goods that has been scantly investigated on in studies on trade in education.Design/methodology/approach: A panel data analysis is broken down for 21 exporting countries and 50 importing countries, covering 1050 observations using new UNESCO database. A number of determinants of international trade including wealth of exporter & importer, domestic capacity of exporter & importer, transport costs, common religion, common language and trade restrictiveness of the importer are empirically tested on bilateral trade flows in education. An econometric model is formulated to test determinants of trade in education using an augmented gravity model.Findings: The augmented gravity model used in this study explains with high significance the determinants of trade in education including wealth of exporter & importer, domestic capacity of exporter & importer, transport costs, common religion, common language and trade restrictiveness of the importer.Research limitations/implications: Taking a macroscopic view of education as a trade may give us a myopic view of the elements important to determine what students or parents of students as well as institutions are concerned with. Nevertheless, the nexus of international trade theories and the gravity model used in this study that are largely and traditionally used on trade in goods and services, but scantly used in trade in education have been found to be highly significant and relevant in trade in education. Future studies on macro-level of analysis involving trade in education could include other determinants of

World energy projection system: Model documentation

Science.gov (United States)

1992-06-01

The World Energy Project System (WEPS) is an accounting framework that incorporates projects from independently documented models and assumptions about the future energy intensity of economic activity (ratios of total energy consumption divided by gross domestic product) and about the rate of incremental energy requirements met by hydropower, geothermal, coal, and natural gas to produce projections of world energy consumption published annually by the Energy Information Administration (EIA) in the International Energy Outlook (IEO). Two independently documented models presented in Figure 1, the Oil Market Simulation (OMS) model and the World Integrated Nuclear Evaluation System (WINES), provide projections of oil and nuclear power consumption published in the IEO. Output from a third independently documented model, and the International Coal Trade Model (ICTM), is not published in the IEO but is used in WEPS as a supply check on projections of world coal consumption produced by WEPS and published in the IEO. A WEPS model of natural gas production documented in this report provides the same type of implicit supply check on the WEPS projections of world natural gas consumption published in the IEO. Two additional models are included in Figure 1, the OPEC Capacity model and the Non-OPEC Oil Production model. These WEPS models provide inputs to the OMS model and are documented in this report.

World energy projection system: Model documentation

International Nuclear Information System (INIS)

1992-06-01

The World Energy Project System (WEPS) is an accounting framework that incorporates projects from independently documented models and assumptions about the future energy intensity of economic activity (ratios of total energy consumption divided by gross domestic product) and about the rate of incremental energy requirements met by hydropower, geothermal, coal, and natural gas to produce projections of world energy consumption published annually by the Energy Information Administration (EIA) in the International Energy Outlook (IEO) (Figure 1). Two independently documented models presented in Figure 1, the Oil Market Simulation (OMS) model and the World Integrated Nuclear Evaluation System (WINES) provide projections of oil and nuclear power consumption published in the IEO. Output from a third independently documented model, and the International Coal Trade Model (ICTM), is not published in the IEO but is used in WEPS as a supply check on projections of world coal consumption produced by WEPS and published in the IEO. A WEPS model of natural gas production documented in this report provides the same type of implicit supply check on the WEPS projections of world natural gas consumption published in the IEO. Two additional models are included in Figure 1, the OPEC Capacity model and the Non-OPEC Oil Production model. These WEPS models provide inputs to the OMS model and are documented in this report

What is the appropriate counterfactual when estimating effects of multilateral trade policy reform?

DEFF Research Database (Denmark)

Anderson, Kym; Jensen, Hans Grinsted; Nelgen, Signe

2016-01-01

the counterfactual price distortions in 2030 are shown to be much larger in the case where agricultural protection grows endogenously than in the case assuming no policy changes over the projection period. This suggests the traditional way of estimating effects of a multilateral agricultural trade agreement may...... of the DDA’s possible effects thus requires first modelling the world economy to 2030 and, in that process, projecting what trade-related policies might be by then without a DDA. Typically, modelers assume the counterfactual policy regime to be a ‘business-as-usual’ projection assuming the status quo. Yet we...... by projecting the world economy to 2030 using the Global Trade Analysis Project (GTAP) model with those two alternative policy regimes and then simulating a move to global free trade (the maximum benefit from a multilateral trade reform) in each of those two cases. The welfare effects of removing...

Models of Co2 emission trading system for projections in MSG6. Documentation and guidance; Utviklingen i stroemforbruket, prisfoelsomheten og stroemmarkedet

Energy Technology Data Exchange (ETDEWEB)

Faehn, Taran; Stroem, Birger

2012-08-15

Present context of the EU Co2 Emission Trading System (EU ETS) from 2008, involves new measures directed towards a large portion of present emissions sources. Currently there is no basis in statistics figures to offset the consequences of these international obligations in SSB models. In the model projections is nevertheless necessary to model both the current instruments and expected future changes in the rules and forms of association. This paper documents the Ministry of Finance to establish a arrangements for implementing Norway's association with the EU ETS in the model MSG6. It also addresses the EU ETS policy instruments interacting with other objectives and instruments of climate policy, including the Kyoto commitments and various domestic Climate tax systems. The European emissions trading price affect the Norwegian economy through several channels. Firstly, allowances mean that the EU ETS will cover activities that gets an emission rate equal to the permit price, which will influence the players to reduce emissions through various adaptations. Second, the remaining emissions occur subject to quotas, and the proportion who do not receive free allowances will give the state the auction revenue / proceeds. Third, quotas purchased in international markets will affect account surplus. This paper outlines various solutions and concludes by recommending a system that easily can be adapted for studies of any interaction between the EU ETS system and other climate policy objectives. The system can also be easily updated to new data.(eb)

External Sector Rebalancing and Endogenous Trade Imbalance Models

Directory of Open Access Journals (Sweden)

John Whalley

2012-12-01

Full Text Available I discuss the need for trade models to incorporate endogenous trade imbalances both to more adequately capture the reality of a global economy with large imbalances and pressures from the financial crisis for countries to reduce imbalances. Conventional general equilibrium trade models implicitly incorporate monetary neutrality and either have zero trade balance as a property of equilibrium, or have a fixed and exogenous trade imbalance. Models which are discussed here have a variety of forms. In one, central banks fix exchange rates and operate a non accommodative monetary policy and accumulate reserves. Changes in both trade and monetary policies change reserve accumulative and with the external sector imbalances. This is a reflection of China’s current policy regime. In another intertemporal preferences allow for simultaneous inter commodity and intertemporal trade across countries, and with changed intertemporal trade changed external sector imbalances within the period. These formulations are each applied to potential tax initiatives to aid in rebalancing.

Modelling production-consumption flows of goods in Europe: the trade model within Transtools3

DEFF Research Database (Denmark)

de Jong, Gerard; Tanner, Reto; Rich, Jeppe

2017-01-01

on disaggregated micro data and then used as an input variable in the trade model. Using Logsums in a trade model is new in applied large-scale freight models, where previous models have simply relied on the distance (e.g. crow-fly) between zones. This linkage of accessibility to the trade model makes it possible......The paper presents a new model for trade flows in Europe that is integrated with a logistics model for transport chain choice through Logsum variables. Logsums measures accessibility across an entire multi-modal logistical chain, and are calculated from a logistics model that has been estimated...... to evaluate how changes in policies on transport costs and changes in multi-modal networks will influence trade patterns. As an example the paper presents outcomes for a European-wide truck tolling scenario, which showcases to which extent trade is influenced by such a policy. The paper discusses how...

Multi-model-based Access Control in Construction Projects

Directory of Open Access Journals (Sweden)

Frank Hilbert

2012-04-01

Full Text Available During the execution of large scale construction projects performed by Virtual Organizations (VO, relatively complex technical models have to be exchanged between the VO members. For linking the trade and transfer of these models, a so-called multi-model container format was developed. Considering the different skills and tasks of the involved partners, it is not necessary for them to know all the models in every technical detailing. Furthermore, the model size can lead to a delay in communication. In this paper an approach is presented for defining model cut-outs according to the current project context. Dynamic dependencies to the project context as well as static dependencies on the organizational structure are mapped in a context-sensitive rule. As a result, an approach for dynamic filtering of multi-models is obtained which ensures, together with a filtering service, that the involved VO members get a simplified view of complex multi-models as well as sufficient permissions depending on their tasks.

A local non-parametric model for trade sign inference

Science.gov (United States)

Blazejewski, Adam; Coggins, Richard

2005-03-01

We investigate a regularity in market order submission strategies for 12 stocks with large market capitalization on the Australian Stock Exchange. The regularity is evidenced by a predictable relationship between the trade sign (trade initiator), size of the trade, and the contents of the limit order book before the trade. We demonstrate this predictability by developing an empirical inference model to classify trades into buyer-initiated and seller-initiated. The model employs a local non-parametric method, k-nearest neighbor, which in the past was used successfully for chaotic time series prediction. The k-nearest neighbor with three predictor variables achieves an average out-of-sample classification accuracy of 71.40%, compared to 63.32% for the linear logistic regression with seven predictor variables. The result suggests that a non-linear approach may produce a more parsimonious trade sign inference model with a higher out-of-sample classification accuracy. Furthermore, for most of our stocks the observed regularity in market order submissions seems to have a memory of at least 30 trading days.

India-Africa: trade, investments and humanitarian projects

Directory of Open Access Journals (Sweden)

Alim Vidadievich Suleymanov

2016-12-01

Full Text Available Active growth of trade volume between India and Africa which has increased in twenty times since the beginning of the twenty-first century or in seventy times since 1991, certainly actualized a question of features of the modern Indo-African relations. In this regard the purpose of article is consideration of features of policy of India to the African countries. The author does the short historical review of the Indo-African relations, and considers key spheres of realization of modern regional strategy of India on the African continent - humanitarian projects, foreign trade and investments. The main methods of research are the comparative-historical approach and the statistical analysis, being used for identification of positive or negative dynamics of development of the Indo-African cooperation. Now the African region takes strategic significance for India. Rapid economic development of the African countries and increase in a standard of living of the population turn the continent into a perspective sales market of the Indian goods and services. Besides, India actively develops humanitarian projects and renders the financial help to many African countries. However, India faces set of problems and factors - geographical remoteness, the discrimination and racism, instability of political systems of many African countries and the African policy of China. The active economic policy of China on the African continent has compelled India to develop cooperation with the countries of Africa more actively. In recent years India also as well as China tries to make active and modernize the economic and humanitarian policy in Africa. Struggle for commodity markets of the goods and services in Africa makes Africa by strategic region not only in the Indo-Chinese relations, but in foreign policy of India as a whole.

Urn model for products’ shares in international trade

Science.gov (United States)

Barbier, Matthieu; Lee, D.-S.

2017-12-01

International trade fluxes evolve as countries revise their portfolios of trade products towards economic development. Accordingly products’ shares in international trade vary with time, reflecting the transfer of capital between distinct industrial sectors. Here we analyze the share of hundreds of product categories in world trade for four decades and find a scaling law obeyed by the annual variation of product share, which informs us of how capital flows and interacts over the product space. A model of stochastic transfer of capital between products based on the observed scaling relation is proposed and shown to reproduce exactly the empirical share distribution. The model allows analytic solutions as well as numerical simulations, which predict a pseudo-condensation of capital onto few product categories and when it will occur. At the individual level, our model finds certain products unpredictable, the excess or deficient growth of which with respect to the model prediction is shown to be correlated with the nature of goods.

Model under-representation of decadal Pacific trade wind trends and its link to tropical Atlantic bias

Science.gov (United States)

Kajtar, Jules B.; Santoso, Agus; McGregor, Shayne; England, Matthew H.; Baillie, Zak

2018-02-01

The strengthening of the Pacific trade winds in recent decades has been unmatched in the observational record stretching back to the early twentieth century. This wind strengthening has been connected with numerous climate-related phenomena, including accelerated sea-level rise in the western Pacific, alterations to Indo-Pacific ocean currents, increased ocean heat uptake, and a slow-down in the rate of global-mean surface warming. Here we show that models in the Coupled Model Intercomparison Project phase 5 underestimate the observed range of decadal trends in the Pacific trade winds, despite capturing the range in decadal sea surface temperature (SST) variability. Analysis of observational data suggests that tropical Atlantic SST contributes considerably to the Pacific trade wind trends, whereas the Atlantic feedback in coupled models is muted. Atmosphere-only simulations forced by observed SST are capable of recovering the time-variation and the magnitude of the trade wind trends. Hence, we explore whether it is the biases in the mean or in the anomalous SST patterns that are responsible for the under-representation in fully coupled models. Over interannual time-scales, we find that model biases in the patterns of Atlantic SST anomalies are the strongest source of error in the precipitation and atmospheric circulation response. In contrast, on decadal time-scales, the magnitude of the model biases in Atlantic mean SST are directly linked with the trade wind variability response.

Greenhouse gas emissions trading: Cogen case studies in the early trading market

International Nuclear Information System (INIS)

Buerer, Mary Jean

2001-01-01

An increasing number of companies are interested in opportunities to trade their reduction in greenhouse gas emissions from cogeneration on the emerging greenhouse gas emissions market. Only the UK and Denmark currently have emissions trading schemes, but they are under development in other European countries. Two frameworks currently exist for trading. Baseline-and-credit trading is used in Canada where companies can take part in two voluntary schemes (Greenhouse Gas Emission Reduction Trading Pilot or Clean Air Canada Inc). An example project from the CHP unit at DuPont's Maitland chemical production facility is given, with details of the baselines and calculations used. The other option is company-wide emissions trading. The example given here features the CHP units at BP's refinery and chemicals operations in Texas. The potential revenue from emission reduction projects could help to boost the economics of cogeneration projects

An extended gravity model with substitution applied to international trade

NARCIS (Netherlands)

Bikker, J.A.|info:eu-repo/dai/nl/06912261X

The traditional gravity model has been applied many times to international trade flows, especially in order to analyze trade creation and trade diversion. However, there are two fundamental objections to the model: it cannot describe substitutions between flows and it lacks a cogent theoretical

Booming Asia-Pacific oil trade spawns regional storage projects

International Nuclear Information System (INIS)

Land, R.

1992-01-01

This paper reports that surging oil trade in the Asia-Pacific region is spawning a number of big petroleum storage projects there. Among the biggest are those in Indonesia and Singapore. A group led by Singapore's Sembawang Group plans to build a $272 million (Singapore) oil storage terminal on Karimun Island in Riau province, Indonesia. Other participants include Kuo International, Hong Kong, and likely companies from Japan, Europe, and the U.S. According to press reports from Jakarta and Singapore, Van Ommeren Terminals of Netherlands was also reportedly involved in negotiations on the projects. A joint venture agreement was expected to be signed by the third quarter. Plans call for building a terminal with a capacity of 1.5 million cu m on the island, where Sembawang has a 100 year lease. Ultimately, Sembawang and Indonesian company Bangun Cipta want to develop the site as an industrial city with petrochemical plants, engineering and manufacturing industries, and shipyards. Semabawang Project Engineering recently completed a feasibility study of the Karimun storage project

Gravity Models of Trade-Based Money Laundering

NARCIS (Netherlands)

Ferwerda, Joras|info:eu-repo/dai/nl/314405526; Kattenberg, Marc|info:eu-repo/dai/nl/357208986; Chang, Han-Hsin|info:eu-repo/dai/nl/357209370; Unger, Brigitte|info:eu-repo/dai/nl/290994926; Groot, Loek|info:eu-repo/dai/nl/073642398; Bikker, Jaap|info:eu-repo/dai/nl/06912261X

Several attempts have been made in the economics literature to measure money laundering. However, the adequacy of these models is difficult to assess, as money laundering takes place secretly and, hence, goes unobserved. An exception is trade-based money laundering (TBML), a special form of trade

A model for scheduling projects under the condition of inflation and under penalty and reward arrangements

Directory of Open Access Journals (Sweden)

J.K. Jolayemi

2014-01-01

Full Text Available A zero-one mixed integer linear programming model is developed for the scheduling of projects under the condition of inflation and under penalty and reward arrangements. The effects of inflation on time-cost trade-off curves are illustrated and a modified approach to time-cost trade-off analysis presented. Numerical examples are given to illustrate the model and its properties. The examples show that misleading schedules and inaccurate project-cost estimates will be produced if the inflation factor is neglected in an environment of high inflation. They also show that award of penalty or bonus is a catalyst for early completion of a project, just as it can be expected.

A new equilibrium trading model with asymmetric information

Directory of Open Access Journals (Sweden)

Lianzhang Bao

2018-03-01

Full Text Available Taking arbitrage opportunities into consideration in an incomplete market, dealers will pricebonds based on asymmetric information. The dealer with the best offering price wins the bid. The riskpremium in dealer’s offering price is primarily determined by the dealer’s add-on rate of change tothe term structure. To optimize the trading strategy, a new equilibrium trading model is introduced.Optimal sequential estimation scheme for detecting the risk premium due to private inforamtion isproposed based on historical prices, and the best bond pricing formula is given with the accordingoptimal trading strategy. Numerical examples are provided to illustrate the economic insights underthe certain stochastic term structure interest rate models.

A structural and stochastic optimal model for projections of LNG imports and exports in Asia-Pacific

Directory of Open Access Journals (Sweden)

Tom Kompas

2016-06-01

Full Text Available The Asia-Pacific region, the largest and fastest growing liquefied natural gas (LNG market in the world, has been undergoing radical changes over the past few years. These changes include considerable additional supplies from North America and Australia, and a recent LNG price slump resulting from an oil-linked pricing mechanism and demand uncertainties. This paper develops an Asia-Pacific Gas Model (APGM, based on a structural, stochastic and optimising framework, providing a valuable tool for the projection of LNG trade in the Asia-Pacific region. With existing social-economic conditions, the model projects that Asia-Pacific LNG imports are expected to increase by 49.1 percent in 2020 and 95.7 percent in 2030, compared to 2013. Total LNG trade value is estimated to increase to US$127.2 billion in 2020 and US$199.0 billion in 2030. Future LNG trade expansion is mainly driven by emerging and large importers (i.e., China and India, and serviced, most importantly, by new supplies from Australia and the USA. The model's projected results are sensitive to changes in expected oil prices, pricing mechanisms, economic growth and energy policies, as well as unexpected geopolitical-economic events.

Modelling trading networks and the role of trust

Science.gov (United States)

Barrio, Rafael A.; Govezensky, Tzipe; Ruiz-Gutiérrez, Élfego; Kaski, Kimmo K.

2017-04-01

We present a simple dynamical model for describing trading interactions between agents in a social network by considering only two dynamical variables, namely money and goods or services, that are assumed conserved over the whole time span of the agents' trading transactions. A key feature of the model is that agent-to-agent transactions are governed by the price in units of money per goods, which is dynamically changing, and by a trust variable, which is related to the trading history of each agent. All agents are able to sell or buy, and the decision to do either has to do with the level of trust the buyer has in the seller, the price of the goods and the amount of money and goods at the disposal of the buyer. Here we show the results of extensive numerical calculations under various initial conditions in a random network of agents and compare the results with the available related data. In most cases the agreement between the model results and real data turns out to be fairly good, which allow us to draw some general conclusions as how different trading strategies could affect the distribution of wealth in different kinds of societies. Our calculations reveal the striking effects of trust in commercial relations, namely that trust makes trading links more robust and the wealth distribution more even as well as allows for the existence of a healthy middle class.

Incorporating socio-environmental considerations into project assessment models using multi-criteria analysis: A case study of Sri Lankan hydropower projects

International Nuclear Information System (INIS)

Morimoto, Risako

2013-01-01

Before commissioning any energy projects, conducting robust assessments of different options in terms of their economic and socio-environmental impacts is important for successful project implementation. Yet, there is currently a lack of tools that simultaneously assess sustainability impacts; instead, they are often investigated separately, which gives decision makers somehow disintegrated information. Thus the main objective of this study is to examine how to incorporate socio-environmental considerations into project assessment models. The multi-criteria analysis is applied to the case study of Sri Lankan hydropower projects as an illustrative example. The estimated quantitative relationship between economic, environmental and social impacts of hydropower development is presented in this study. Such estimation, using sustainability indicators of hydropower projects, enables us to understand marginal trade-offs among economic, environmental and social objectives of hydropower development. Hence, this would provide an overview of potential impacts of different scenarios that are designed to be implemented and indicate an optimum mix of hydropower generation. - Highlights: • This study provides an effective hydropower project evaluation method using the MCA. • The proposed tool shows the quantitative relationship explicitly. • Marginal trade-offs between sustainability objectives are presented

Projections of Virtual Water Trade Under Agricultural Policy Scenarios in China

Science.gov (United States)

Dalin, C.; Hanasaki, N.; Qiu, H.; Mauzerall, D. L.; Rodriguez-Iturbe, I.

2014-12-01

China's economic growth is expected to continue into the next decades, accompanied by a sustained urbanization and industrialization. The associated increase in demand for land, water resources and rich foods will deepen the challenge to sustainably feed the population and balance environmental and agricultural policies. In previous work, Inner Mongolia was identified as a target province for trade or agricultural policies aimed at water-use efficiency improvements, due to its large production relying on particularly significant irrigation water use. In addition, water scarcity issues may arises in the greater Beijing area, which represents the largest urban area of arid Northern China. Increasing residential and industrial water demand in this region may lead to fewer available water for irrigation. For these reasons, it is important to estimate the impacts of specific policies aiming at reducing excessive water use for crop production in Inner Mongolia, as well as exploring ways to mitigate pressure on water resources in dry urban areas. In this study, we use socio-economic projections to assess the future state of China's virtual water trade (VWT) network. We then quantify the effects of agricultural policies on the national VWT system and on the efficiency of food trade in terms of water resources. This study addresses the following questions: (1) How future socio-economic changes will affect China's food trade and associated water transfers? (2) To which extent localized reductions of irrigated area can decrease agricultural water use while maintaining national food security? (3) How would these policies affect China's domestic and international VWT network and induced water resources savings (losses)?

Public summaries of feasibility studies conducted for the trinidad LNG project. Export trade information

Energy Technology Data Exchange (ETDEWEB)

NONE

1995-04-01

The study, conducted by The M. W. Kellog Company, was funded by the U.S. Trade and Development Agency on behalf of the National Gas Company of Trinidad and Tobago. It shows the results of Project Definition Phase which was implemented as a follow-up to two previous feasibility studies which were conducted for a LNG plant in Trinidad. The objective of this report is to develop a project design basis and implementation plan plus a cost estimate. The study is divided into the following sections: (1) Introduction; (2) Project Design Basis; (3) Seismic Hazard Assessment; (4) Geotechnical; and (5) Environmental Assessment.

A Simple Model of Service Trade with Time Zone Differences

OpenAIRE

Kikuchi, Toru; Iwasa, Kazumichi

2008-01-01

This note proposes a two-country monopolistic competition model of service trade that captures the role of time zone differences as a determinant of trade patterns. It is shown that the utilization of time zone differences induces drastic change in trade patterns: Due to taking advantage of time zone differences, service firms learve larger countries for smaller countries.

Trade policy-making in a model of legislative bargaining

Czech Academy of Sciences Publication Activity Database

Celik, Levent; Karabay, Bilgehan; McLaren, J.

2013-01-01

Roč. 91, č. 2 (2013), s. 179-190 ISSN 0022-1996 R&D Projects: GA ČR(CZ) GAP402/12/0666 Grant - others:UK(CZ) UNCE 204005/2012 Institutional support: PRVOUK-P23 Keywords : trade policy * multilateral legislative bargaining * political economy Subject RIV: AH - Economics Impact factor: 2.443, year: 2013

International Trade Modelling Using Open Flow Networks: A Flow-Distance Based Analysis.

Science.gov (United States)

Shen, Bin; Zhang, Jiang; Li, Yixiao; Zheng, Qiuhua; Li, Xingsen

2015-01-01

This paper models and analyzes international trade flows using open flow networks (OFNs) with the approaches of flow distances, which provide a novel perspective and effective tools for the study of international trade. We discuss the establishment of OFNs of international trade from two coupled viewpoints: the viewpoint of trading commodity flow and that of money flow. Based on the novel model with flow distance approaches, meaningful insights are gained. First, by introducing the concepts of trade trophic levels and niches, countries' roles and positions in the global supply chains (or value-added chains) can be evaluated quantitatively. We find that the distributions of trading "trophic levels" have the similar clustering pattern for different types of commodities, and summarize some regularities between money flow and commodity flow viewpoints. Second, we find that active and competitive countries trade a wide spectrum of products, while inactive and underdeveloped countries trade a limited variety of products. Besides, some abnormal countries import many types of goods, which the vast majority of countries do not need to import. Third, harmonic node centrality is proposed and we find the phenomenon of centrality stratification. All the results illustrate the usefulness of the model of OFNs with its network approaches for investigating international trade flows.

Economically optimized electricity trade modeling. Iran-Turkey case

International Nuclear Information System (INIS)

Shakouri G, H.; Eghlimi, M.; Manzoor, D.

2009-01-01

The advantages of power trade between countries, which are attainable for various facts, are distinguished now. Daily differences in the peak-load times of neighboring countries commonly occur for differences in the longitudes of their location. Seasonal differences are also caused by differences in the latitudes leading to different climates. Consequently, different load curves help to have such a production schedule that reduces blackouts and investments for power generation by planning for a proper trade between countries in a region. This paper firstly describes the methodology and framework for the power trade and then the results of an optimal power trade model between Iran and Turkey, which shows a potential benefit for both countries by peak shaving, are presented. The results, in the worst case design, represent optimality of about 1500 MW electricity export from Iran to Turkey at the Turkish peak times, as well as 447 MW electricity import from Turkey at the Iranian peak times. In addition, results derived from running a Long-Run model show that there will be greater potential for power export from Iran to Turkey, which is a guideline of an energy conservation strategy for both countries in the future. (author)

Expatriates and trade

Czech Academy of Sciences Publication Activity Database

Konečný, Tomáš

2012-01-01

Roč. 13, č. 1 (2012), s. 83-98 ISSN 1488-3473 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : migration * trade * informal trade barriers Subject RIV: AH - Economics

The Agriculture Model Intercomparison and Improvement Project (AgMIP) (Invited)

Science.gov (United States)

Rosenzweig, C.

2010-12-01

The Agricultural Model Intercomparison and Improvement Project (AgMIP) is a distributed climate-scenario simulation exercise for historical model intercomparison and future climate change conditions with participation of multiple crop and world agricultural trade modeling groups around the world. The goals of AgMIP are to improve substantially the characterization of risk of hunger and world food security due to climate change and to enhance adaptation capacity in both developing and developed countries. Historical period results will spur model improvement and interaction among major modeling groups, while future period results will lead directly to tests of adaptation and mitigation strategies across a range of scales. AgMIP will consist of a multi-scale impact assessment utilizing the latest methods for climate and agricultural scenario generation. Scenarios and modeling protocols will be distributed on the web, and multi-model results will be collated and analyzed to ensure the widest possible coverage of agricultural crops and regions. AgMIP will place regional changes in agricultural production in a global context that reflects new trading opportunities, imbalances, and shortages in world markets resulting from climate change and other driving forces for food supply. Such projections are essential inputs from the Vulnerability, Impacts, and Adaptation (VIA) research community to the Intergovernmental Panel on Climate Change Fifth Assessment (AR5), now underway, and the UN Framework Convention on Climate Change. They will set the context for local-scale vulnerability and adaptation studies, supply test scenarios for national-scale development of trade policy instruments, provide critical information on changing supply and demand for water resources, and elucidate interactive effects of climate change and land use change. AgMIP will not only provide crucially-needed new global estimates of how climate change will affect food supply and hunger in the

Demand-side management project for Tenaga Nasional Berhad. Progress report No. 4. Export trade information

Energy Technology Data Exchange (ETDEWEB)

NONE

1995-03-01

This study, conducted by the California Energy Commission, was funded by the U.S. Trade and Development Agency. Progress Report No. 4 is divided into the following contents: April 6, 1994 Training Mission Delegation Itinerary; April 6, 1994 Training Mission Workshop Information Package; Letter to Chairman of Tenaga Nasional Berhad Requesting Demonstration Project Funding; Design/Build Construction Bid Proposal for Energy Efficient Electric Technology Demontration Project; Final Draft of Demand-Side Management Plan for Tenaga Nasional Berhad; Attachments.

Changes in the business model for Spanish fresh tomato trade

International Nuclear Information System (INIS)

Pablo-Valenciano, J. de; Giacinti-Battistuzzi, M.A.; Tassile, T.; García-Azcárate, T.

2017-01-01

The business model applied to the fresh tomato trade from Almería is well known in Spain and abroad. The changes in demand are forcing export companies to change their trade strategies to become or remain competitive. The purpose of this paper is to know the business structure and its export dynamics in addition to the changes in trade strategies made by companies in Almería during the 2009-2013 period. The methodology is based on the Herfindahl-Hirshman index and the foreign trade competitiveness index, whereas the congruence analysis is based on Pearson’s correlation coefficients and the RV coefficient. We have also applied the dual multiple factor analysis to verify changes made to the trade policy in leading businesses between two periods or scenarios. The research shows that export-driven companies behave as a moderately concentrated structure and there is an increase in the number of exporters. The competitiveness map for Almería reveals the sector’s trend with regard to the most important markets. We have verified the changes made to their trade strategy to adjust to changes in foreign trade between the 2008/09 and 2012/13 campaigns. Finally, it can be pointed out that, in the analyzed period, changes in the business model for fresh tomato trade of Almería have not been significant, being its structure of moderate concentration. In addition, the great majority of variations in strategies of companies to adapt to the competitive environment have been made by leading companies.

Changes in the business model for Spanish fresh tomato trade

Energy Technology Data Exchange (ETDEWEB)

Pablo-Valenciano, J. de; Giacinti-Battistuzzi, M.A.; Tassile, T.; García-Azcárate, T.

2017-09-01

The business model applied to the fresh tomato trade from Almería is well known in Spain and abroad. The changes in demand are forcing export companies to change their trade strategies to become or remain competitive. The purpose of this paper is to know the business structure and its export dynamics in addition to the changes in trade strategies made by companies in Almería during the 2009-2013 period. The methodology is based on the Herfindahl-Hirshman index and the foreign trade competitiveness index, whereas the congruence analysis is based on Pearson’s correlation coefficients and the RV coefficient. We have also applied the dual multiple factor analysis to verify changes made to the trade policy in leading businesses between two periods or scenarios. The research shows that export-driven companies behave as a moderately concentrated structure and there is an increase in the number of exporters. The competitiveness map for Almería reveals the sector’s trend with regard to the most important markets. We have verified the changes made to their trade strategy to adjust to changes in foreign trade between the 2008/09 and 2012/13 campaigns. Finally, it can be pointed out that, in the analyzed period, changes in the business model for fresh tomato trade of Almería have not been significant, being its structure of moderate concentration. In addition, the great majority of variations in strategies of companies to adapt to the competitive environment have been made by leading companies.

An International Trade Model with Entrepreneurs and Financial Markets

DEFF Research Database (Denmark)

Olai Hansen, Bodil; Keiding, Hans

2016-01-01

We consider a two-period model of a three-country world with free trade in finished products and some factor mobility, where production is subject to uncertainty. Enterpreneurs may establish production in other countries but can obtain financing only in the country of origin. In this model, integ......, integrating production across countries, in particular integrating economically strong and weak partners, may give rise to a welfare loss, showing that traditional views on efficiency of international trade must be reconsidered when risk and uncertainty are taken into account....

The Gravity Model Approach: An Application on the Eco Was Trading Bloc

Directory of Open Access Journals (Sweden)

Luqman Afolabi O.

2016-04-01

Full Text Available This study aims to examine bilateral trade flows across ECOWAS-15 nations with the use of a panel and cross section for the period of 1981-2013. The methodology carried out to achieve this objective involves the use of various techniques of estimation for the gravity model (Static and dynamic. More specifically, this study aims to investigate the formational impact of regional trade integration agreements on trade flows within a group of countries using the same currencies and ECOWAS at large. The main use of regional variables into gravity models is intended to determine whether RTAs lead to trade creation, or diversion. The results show the presence of a strong relationship among the factors of both RIAs and trade flows.

A trade secret model for genomic biobanking.

Science.gov (United States)

Conley, John M; Mitchell, Robert; Cadigan, R Jean; Davis, Arlene M; Dobson, Allison W; Gladden, Ryan Q

2012-01-01

Genomic biobanks present ethical challenges that are qualitatively unique and quantitatively unprecedented. Many critics have questioned whether the current system of informed consent can be meaningfully applied to genomic biobanking. Proposals for reform have come from many directions, but have tended to involve incremental change in current informed consent practice. This paper reports on our efforts to seek new ideas and approaches from those whom informed consent is designed to protect: research subjects. Our model emerged from semi-structured interviews with healthy volunteers who had been recruited to join either of two biobanks (some joined, some did not), and whom we encouraged to explain their concerns and how they understood the relationship between specimen contributors and biobanks. These subjects spoke about their DNA and the information it contains in ways that were strikingly evocative of the legal concept of the trade secret. They then described the terms and conditions under which they might let others study their DNA, and there was a compelling analogy to the commonplace practice of trade secret licensing. We propose a novel biobanking model based on this trade secret concept, and argue that it would be a practical, legal, and ethical improvement on the status quo. © 2012 American Society of Law, Medicine & Ethics, Inc.

Trade and compliance cost model in the international supply chain

NARCIS (Netherlands)

Arsyida, Tuty; van Delft, Selma; Rukanova, B.D.; Tan, Y.

2017-01-01

Trade costs for international supply chain are huge, even in the absence of formal barriers. It is necessary for all the stakeholders, both private and public organizations, to support an effective and efficient border compliance process. Very little trade cost model research has been done at the

Expatriates and trade

Czech Academy of Sciences Publication Activity Database

Konečný, Tomáš

-, č. 387 (2009), s. 1-29 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Grant - others:GA UK(CZ) 118909 Institutional research plan: CEZ:MSM0021620846 Keywords : international trade * migration * informal trade barriers Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp387.pdf

Integrated model of multiple kernel learning and differential evolution for EUR/USD trading.

Science.gov (United States)

Deng, Shangkun; Sakurai, Akito

2014-01-01

Currency trading is an important area for individual investors, government policy decisions, and organization investments. In this study, we propose a hybrid approach referred to as MKL-DE, which combines multiple kernel learning (MKL) with differential evolution (DE) for trading a currency pair. MKL is used to learn a model that predicts changes in the target currency pair, whereas DE is used to generate the buy and sell signals for the target currency pair based on the relative strength index (RSI), while it is also combined with MKL as a trading signal. The new hybrid implementation is applied to EUR/USD trading, which is the most traded foreign exchange (FX) currency pair. MKL is essential for utilizing information from multiple information sources and DE is essential for formulating a trading rule based on a mixture of discrete structures and continuous parameters. Initially, the prediction model optimized by MKL predicts the returns based on a technical indicator called the moving average convergence and divergence. Next, a combined trading signal is optimized by DE using the inputs from the prediction model and technical indicator RSI obtained from multiple timeframes. The experimental results showed that trading using the prediction learned by MKL yielded consistent profits.

Integrated Model of Multiple Kernel Learning and Differential Evolution for EUR/USD Trading

Directory of Open Access Journals (Sweden)

Shangkun Deng

2014-01-01

Full Text Available Currency trading is an important area for individual investors, government policy decisions, and organization investments. In this study, we propose a hybrid approach referred to as MKL-DE, which combines multiple kernel learning (MKL with differential evolution (DE for trading a currency pair. MKL is used to learn a model that predicts changes in the target currency pair, whereas DE is used to generate the buy and sell signals for the target currency pair based on the relative strength index (RSI, while it is also combined with MKL as a trading signal. The new hybrid implementation is applied to EUR/USD trading, which is the most traded foreign exchange (FX currency pair. MKL is essential for utilizing information from multiple information sources and DE is essential for formulating a trading rule based on a mixture of discrete structures and continuous parameters. Initially, the prediction model optimized by MKL predicts the returns based on a technical indicator called the moving average convergence and divergence. Next, a combined trading signal is optimized by DE using the inputs from the prediction model and technical indicator RSI obtained from multiple timeframes. The experimental results showed that trading using the prediction learned by MKL yielded consistent profits.

Trade and Variety in a Model of Endogenous Product Differentiation

OpenAIRE

Oliver Lorz; Matthias Wrede

2009-01-01

This paper sets up a model of endogenous product differentiation to analyze the variety effects of international trade. In our model multi-product firms decide not only about the number of varieties they supply but also about the degree of horizontal differentiation between these varieties. Firms can raise the degree of differentiation by investing variety-specific fixed costs. In this setting, we analyze how trade integration, i.e. an increase in market size, influences the number of firms i...

Pharmaceutical industry and trade liberalization using computable general equilibrium model.

Science.gov (United States)

Barouni, M; Ghaderi, H; Banouei, Aa

2012-01-01

Computable general equilibrium models are known as a powerful instrument in economic analyses and widely have been used in order to evaluate trade liberalization effects. The purpose of this study was to provide the impacts of trade openness on pharmaceutical industry using CGE model. Using a computable general equilibrium model in this study, the effects of decrease in tariffs as a symbol of trade liberalization on key variables of Iranian pharmaceutical products were studied. Simulation was performed via two scenarios in this study. The first scenario was the effect of decrease in tariffs of pharmaceutical products as 10, 30, 50, and 100 on key drug variables, and the second was the effect of decrease in other sectors except pharmaceutical products on vital and economic variables of pharmaceutical products. The required data were obtained and the model parameters were calibrated according to the social accounting matrix of Iran in 2006. The results associated with simulation demonstrated that the first scenario has increased import, export, drug supply to markets and household consumption, while import, export, supply of product to market, and household consumption of pharmaceutical products would averagely decrease in the second scenario. Ultimately, society welfare would improve in all scenarios. We presents and synthesizes the CGE model which could be used to analyze trade liberalization policy issue in developing countries (like Iran), and thus provides information that policymakers can use to improve the pharmacy economics.

A Model for Trading the Foreign Exchange Market

African Journals Online (AJOL)

PROF. OLIVER OSUAGWA

inflation rates, etc. have significant impacts on the exchange rate fluctuation. Existing foreign exchange ... Keywords: FOREX, marcov chain, model, neural network, trading robot. Introduction .... Support Vector Machine (SVM). Regression ...

A microbial model of economic trading and comparative advantage.

Science.gov (United States)

Enyeart, Peter J; Simpson, Zachary B; Ellington, Andrew D

2015-01-07

The economic theory of comparative advantage postulates that beneficial trading relationships can be arrived at by two self-interested entities producing the same goods as long as they have opposing relative efficiencies in producing those goods. The theory predicts that upon entering trade, in order to maximize consumption both entities will specialize in producing the good they can produce at higher efficiency, that the weaker entity will specialize more completely than the stronger entity, and that both will be able to consume more goods as a result of trade than either would be able to alone. We extend this theory to the realm of unicellular organisms by developing mathematical models of genetic circuits that allow trading of a common good (specifically, signaling molecules) required for growth in bacteria in order to demonstrate comparative advantage interactions. In Conception 1, the experimenter controls production rates via exogenous inducers, allowing exploration of the parameter space of specialization. In Conception 2, the circuits self-regulate via feedback mechanisms. Our models indicate that these genetic circuits can demonstrate comparative advantage, and that cooperation in such a manner is particularly favored under stringent external conditions and when the cost of production is not overly high. Further work could involve implementing the models in living bacteria and searching for naturally occurring cooperative relationships between bacteria that conform to the principles of comparative advantage. Copyright © 2014 The Authors. Published by Elsevier Ltd.. All rights reserved.

An Intelligent Model for Pairs Trading Using Genetic Algorithms.

Science.gov (United States)

Huang, Chien-Feng; Hsu, Chi-Jen; Chen, Chi-Chung; Chang, Bao Rong; Li, Chen-An

2015-01-01

Pairs trading is an important and challenging research area in computational finance, in which pairs of stocks are bought and sold in pair combinations for arbitrage opportunities. Traditional methods that solve this set of problems mostly rely on statistical methods such as regression. In contrast to the statistical approaches, recent advances in computational intelligence (CI) are leading to promising opportunities for solving problems in the financial applications more effectively. In this paper, we present a novel methodology for pairs trading using genetic algorithms (GA). Our results showed that the GA-based models are able to significantly outperform the benchmark and our proposed method is capable of generating robust models to tackle the dynamic characteristics in the financial application studied. Based upon the promising results obtained, we expect this GA-based method to advance the research in computational intelligence for finance and provide an effective solution to pairs trading for investment in practice.

Gravity Models of Trade-based Money Laundering

NARCIS (Netherlands)

Ferwerda, J.|info:eu-repo/dai/nl/314405526; Kattenberg, M.A.C.|info:eu-repo/dai/nl/357208986; Chang, H.-S.; Unger, B.|info:eu-repo/dai/nl/290994926; Groot, L.F.M.|info:eu-repo/dai/nl/073642398; Bikker, J.A.|info:eu-repo/dai/nl/06912261X

2011-01-01

Several attempts have been made in the economics literature to measure money laundering. However, the adequacy of these models is difficult to assess, as money laundering takes place secretly and, hence, goes unobserved. An exception is tradebased money laundering (TBML), a special form of trade

A theoretical model of water and trade

Science.gov (United States)

Dang, Qian; Konar, Megan; Reimer, Jeffrey J.; Di Baldassarre, Giuliano; Lin, Xiaowen; Zeng, Ruijie

2016-03-01

Water is an essential input for agricultural production. Agriculture, in turn, is globalized through the trade of agricultural commodities. In this paper, we develop a theoretical model that emphasizes four tradeoffs involving water-use decision-making that are important yet not always considered in a consistent framework. One tradeoff focuses on competition for water among different economic sectors. A second tradeoff examines the possibility that certain types of agricultural investments can offset water use. A third tradeoff explores the possibility that the rest of the world can be a source of supply or demand for a country's water-using commodities. The fourth tradeoff concerns how variability in water supplies influences farmer decision-making. We show conditions under which trade liberalization affect water use. Two policy scenarios to reduce water use are evaluated. First, we derive a target tax that reduces water use without offsetting the gains from trade liberalization, although important tradeoffs exist between economic performance and resource use. Second, we show how subsidization of water-saving technologies can allow producers to use less water without reducing agricultural production, making such subsidization an indirect means of influencing water use decision-making. Finally, we outline conditions under which riskiness of water availability affects water use. These theoretical model results generate hypotheses that can be tested empirically in future work.

Supply Chain Model with Stochastic Lead Time, Trade-Credit Financing, and Transportation Discounts

Directory of Open Access Journals (Sweden)

Sung Jun Kim

2017-01-01

Full Text Available This model extends a two-echelon supply chain model by considering the trade-credit policy, transportations discount to make a coordination mechanism between transportation discounts, trade-credit financing, number of shipments, quality improvement of products, and reduced setup cost in such a way that the total cost of the whole system can be reduced, where the supplier offers trade-credit-period to the buyer. For buyer, the backorder rate is considered as variable. There are two investments to reduce setup cost and to improve quality of products. The model assumes lead time-dependent backorder rate, where the lead time is stochastic in nature. By using the trade-credit policy, the model gives how the credit-period would be determined to achieve the win-win outcome. An iterative algorithm is designed to obtain the global optimum results. Numerical example and sensitivity analysis are given to illustrate the model.

Two retailer-supplier supply chain models with default risk under trade credit policy.

Science.gov (United States)

Wu, Chengfeng; Zhao, Qiuhong

2016-01-01

The purpose of the paper is to formulate two uncooperative replenishment models with demand and default risk which are the functions of the trade credit period, i.e., a Nash equilibrium model and a supplier-Stackelberg model. Firstly, we present the optimal results of decentralized decision and centralized decision without trade credit. Secondly, we derive the existence and uniqueness conditions of the optimal solutions under the two games, respectively. Moreover, we present a set of theorems and corollary to determine the optimal solutions. Finally, we provide an example and sensitivity analysis to illustrate the proposed strategy and optimal solutions. Sensitivity analysis reveals that the total profits of supply chain under the two games both are better than the results under the centralized decision only if the optimal trade credit period isn't too short. It also reveals that the size of trade credit period, demand, retailer's profit and supplier's profit have strong relationship with the increasing demand coefficient, wholesale price, default risk coefficient and production cost. The major contribution of the paper is that we comprehensively compare between the results of decentralized decision and centralized decision without trade credit, Nash equilibrium and supplier-Stackelberg models with trade credit, and obtain some interesting managerial insights and practical implications.

Shop Math for the Metal Trades. Combination Welder Apprentice, Machinist Helper, Precision Metal Finisher, Sheet Metal Worker Apprentice. A Report on Metal Trades Industry Certified, Single-Concept, Mathematical Learning Projects to Eliminate Student Math Fears.

Science.gov (United States)

Newton, Lawrence R.

This project (1) identifies basic and functional mathematics skills (shop mathematics skills), (2) provides pretests on these functional mathematics skills, and (3) provides student learning projects (project sheets) that prepare metal trades students to read, understand, and apply mathematics and measuring skills that meet entry-level job…

ETUDE - European Trade Union Distance Education.

Science.gov (United States)

Creanor, Linda; Walker, Steve

2000-01-01

Describes transnational distance learning activities among European trade union educators carried out as part of the European Trade Union Distance Education (ETUDE) project, supported by the European Commission. Highlights include the context of international trade union distance education; tutor training course; tutors' experiences; and…

Reducing energy consumption and CO2 emissions by energy efficiency measures and international trading: A bottom-up modeling for the U.S. iron and steel sector

International Nuclear Information System (INIS)

Karali, Nihan; Xu, Tengfang; Sathaye, Jayant

2014-01-01

Highlights: • Use ISEEM to evaluate energy and emission reduction in U.S. Iron and Steel sector. • ISEEM is a new bottom-up optimization model for industry sector energy planning. • Energy and emission reduction includes efficiency measure and international trading. • International trading includes commodity and carbon among U.S., China and India. • Project annual energy use, CO 2 emissions, production, and costs from 2010 to 2050. - Abstract: Using the ISEEM modeling framework, we analyzed the roles of energy efficiency measures, steel commodity and international carbon trading in achieving specific CO 2 emission reduction targets in the U.S iron and steel sector from 2010 to 2050. We modeled how steel demand is balanced under three alternative emission reduction scenarios designed to include national energy efficiency measures, commodity trading, and international carbon trading as key instruments to meet a particular emission restriction target in the U.S. iron and steel sector; and how production, process structure, energy supply, and system costs change with those scenarios. The results advance our understanding of long-term impacts of different energy policy options designed to reduce energy consumption and CO 2 emissions for U.S. iron and steel sector, and generate insight of policy implications for the sector’s environmentally and economically sustainable development. The alternative scenarios associated with 20% emission-reduction target are projected to result in approximately 11–19% annual energy reduction in the medium term (i.e., 2030) and 9–20% annual energy reduction in the long term (i.e., 2050) compared to the Base scenario

The International Trade Network: weighted network analysis and modelling

International Nuclear Information System (INIS)

Bhattacharya, K; Mukherjee, G; Manna, S S; Saramäki, J; Kaski, K

2008-01-01

Tools of the theory of critical phenomena, namely the scaling analysis and universality, are argued to be applicable to large complex web-like network structures. Using a detailed analysis of the real data of the International Trade Network we argue that the scaled link weight distribution has an approximate log-normal distribution which remains robust over a period of 53 years. Another universal feature is observed in the power-law growth of the trade strength with gross domestic product, the exponent being similar for all countries. Using the 'rich-club' coefficient measure of the weighted networks it has been shown that the size of the rich-club controlling half of the world's trade is actually shrinking. While the gravity law is known to describe well the social interactions in the static networks of population migration, international trade, etc, here for the first time we studied a non-conservative dynamical model based on the gravity law which excellently reproduced many empirical features of the ITN

Risk-trading in flood management: An economic model.

Science.gov (United States)

Chang, Chiung Ting

2017-09-15

Although flood management is no longer exclusively a topic of engineering, flood mitigation continues to be associated with hard engineering options. Flood adaptation or the capacity to adapt to flood risk, as well as a demand for internalizing externalities caused by flood risk between regions, complicate flood management activities. Even though integrated river basin management has long been recommended to resolve the above issues, it has proven difficult to apply widely, and sometimes even to bring into existence. This article explores how internalization of externalities as well as the realization of integrated river basin management can be encouraged via the use of a market-based approach, namely a flood risk trading program. In addition to maintaining efficiency of optimal resource allocation, a flood risk trading program may also provide a more equitable distribution of benefits by facilitating decentralization. This article employs a graphical analysis to show how flood risk trading can be implemented to encourage mitigation measures that increase infiltration and storage capacity. A theoretical model is presented to demonstrate the economic conditions necessary for flood risk trading. Copyright © 2017 Elsevier Ltd. All rights reserved.

How Do Trading Firms Upgrade Skills and Technology: A Theoretical Model

Directory of Open Access Journals (Sweden)

Mojca Lindic

2015-12-01

Full Text Available This paper studies the mechanisms of skill upgrading in trading firms by developing a theoretical model that relates the individual’s incentives for acquiring higher skills to the profit-maximizing behaviour of trading firms. The model shows that only the high ability individuals have incentives for acquiring higher skills, as long as they are compensated with higher wages after entering employment. Furthermore, high-productive firms have incentives for investing in higher technology, to employ high-skilled labour, and to engage in international trade. The decisions for technology dress-up and skill upgrading coincide with firm’s decisions to start importing and exporting as the latter requires higher technology and high-skilled labour. Contributions of the paper are twofold: gaining new insights by combining fragments of models on individual’s and firm’s behaviours, and broadening the content of the Melitz (2003 model by introducing importers and controlling for skilled and unskilled labour.

A Goal Oriented Approach for Modeling and Analyzing Security Trade-Offs

Science.gov (United States)

Elahi, Golnaz; Yu, Eric

In designing software systems, security is typically only one design objective among many. It may compete with other objectives such as functionality, usability, and performance. Too often, security mechanisms such as firewalls, access control, or encryption are adopted without explicit recognition of competing design objectives and their origins in stakeholder interests. Recently, there is increasing acknowledgement that security is ultimately about trade-offs. One can only aim for "good enough" security, given the competing demands from many parties. In this paper, we examine how conceptual modeling can provide explicit and systematic support for analyzing security trade-offs. After considering the desirable criteria for conceptual modeling methods, we examine several existing approaches for dealing with security trade-offs. From analyzing the limitations of existing methods, we propose an extension to the i* framework for security trade-off analysis, taking advantage of its multi-agent and goal orientation. The method was applied to several case studies used to exemplify existing approaches.

Textile materials trading center formally launched online

Institute of Scientific and Technical Information of China (English)

无

2012-01-01

Textile materials trading center was formally launched online in Wuxi City,Jiangsu Province. This is the first third-party electronic trading platform for spot trading in China textile materials professional market. The project will strive to build the most influential textile materials trading center of East China,the whole country and even the whole world China textile materials trading center will be

Assessing a moderating effect and the global fit of a PLS model on online trading

Directory of Open Access Journals (Sweden)

Juan J. García-Machado

2017-12-01

Full Text Available This paper proposes a PLS Model for the study of Online Trading. Traditional investing has experienced a revolution due to the rise of e-trading services that enable investors to use Internet conduct secure trading. On the hand, model results show that there is a positive, direct and statistically significant relationship between personal outcome expectations, perceived relative advantage, shared vision and economy-based trust with the quality of knowledge. On the other hand, trading frequency and portfolio performance has also this relationship. After including the investor’s income and financial wealth (IFW as moderating effect, the PLS model was enhanced, and we found that the interaction term is negative and statistically significant, so, higher IFW levels entail a weaker relationship between trading frequency and portfolio performance and vice-versa. Finally, with regard to the goodness of overall model fit measures, they showed that the model is fit for SRMR and dG measures, so it is likely that the model is true.

Water, Energy, and Food Nexus: Modeling of Inter-Basin Resources Trading

Science.gov (United States)

KIm, T. W.; Kang, D.; Wicaksono, A.; Jeong, G.; Jang, B. J.; Ahn, J.

2016-12-01

The water, energy, and food (WEF) nexus is an emerging issue in the concern of fulfilling the human requirements with a lack of available resources. The WEF nexus concept arises to develop a sustainable resources planning and management. In the concept, the three valuable resources (i.e. water, energy, and food) are inevitably interconnected thus it becomes a challenge for researchers to understand the complicated interdependency. A few studies have been committed for interpreting and implementing the WEF nexus using a computer based simulation model. Some of them mentioned that a trade-off is one alternative solution that can be taken to secure the available resources. Taking a concept of inter-basin water transfer, this study attempts to introduce an idea to develop a WEF nexus model for inter-basin resources trading simulation. Using the trading option among regions (e.g., cities, basins, or even countries), the model provides an opportunity to increase overall resources availability without draining local resources. The proposed model adopted the calculation process of an amount of water, energy, and food from a nation-wide model, with additional input and analysis process to simulate the resources trading between regions. The proposed model is applied for a hypothetic test area in South Korea for demonstration purposes. It is anticipated that the developed model can be a decision tool for efficient resources allocation for sustainable resources management. Acknowledgements This study was supported by a grant (14AWMP-B082564-01) from Advanced Water Management Research Program funded by Ministry of Land, Infrastructure and Transport of the Korean government.

Trade in parts and components across Europe

Czech Academy of Sciences Publication Activity Database

Frensch, R.; Hanousek, Jan; Kočenda, E.

2016-01-01

Roč. 66, č. 3 (2016), s. 236-262 ISSN 0015-1920 R&D Projects: GA ČR(CZ) GA15-15927S Institutional support: PRVOUK-P23 Keywords : international trade * production networks * gravity model Subject RIV: AH - Economics Impact factor: 0.604, year: 2016 http://journal.fsv.cuni.cz/mag/article/show/id/1356

Canadian municipal carbon trading primer

International Nuclear Information System (INIS)

Seskus, A.

2002-01-01

The trading of greenhouse gas (GHG) emissions is being suggested as an effective economic way to meet Canada's Kyoto target. Emissions trading is a market-based instrument that can help achieve environmental improvements while using the market to absorb the economical and effective measures to achieve emissions reductions. Placing a value on emissions means that in order to minimize costs, companies will be motivated to apply the lowest-cost emission reductions possible for regulatory approval. The two main types of emissions trading that exist in Canada are the trading of emissions that lead to the formation of smog or acid rain, and the trading of greenhouse gas emissions that lead to climate change. Since carbon dioxide is the most prevalent GHG, making up approximately 75 per cent of Canadian GHG emissions, the trading of units of GHGs is often referred to as carbon trading. The impact that emissions trading will have on municipal operations was the focus of this primer. The trading of GHG involves buying and selling of allowances of GHGs between contracting parties, usually between one party that is short of GHG credits and another that has excess credits. The 3 common approaches to emissions trading include allowance trading (cap and trade), credit trading (baseline and credit), and a hybrid system which combines both credit and allowance trading systems. The issues that impact municipalities include the debate regarding who owns the credits from landfills, particularly if power is generated using landfill gas and the power is sold as green power. Other viable questions were also addressed, including who can claim emission reduction credits if a city implements energy efficiency projects, or fuel substitution programs. Also, will municipalities be allowed to trade internationally, for example, with municipalities in the United States, and how should they spend their money earned from selling credits. This report also presents highlights from 3 emissions

Estimating the elasticity of trade: the trade share approach

OpenAIRE

Mauro Lanati

2013-01-01

Recent theoretical work on international trade emphasizes the importance of trade elasticity as the fundamental statistic needed to conduct welfare analysis. Eaton and Kortum (2002) proposed a two-step method to estimate this parameter, where exporter fixed effects are regressed on proxies for technology and wages. Within the same Ricardian model of trade, the trade share provides an alternative source of identication for the elasticity of trade. Following Santos Silva and Tenreyro (2006) bot...

INTERACTION OF TRADE AND FINANCIAL LINKAGES IN THE FREE TRADE ZONES

Directory of Open Access Journals (Sweden)

V. Shevchenko

2014-09-01

Full Text Available Different models of free trade agreements (FTA and free trade zones (FTZ are considered in the article, argued the complex approach to their structures and results under unstable global economic environment. The typology of the free trade zones models and financial linkages types between countries have been developed. Approaches to the results of the free trade zones have been argued. It has been discovered that for the free trade zones of transitional countries the prevailing are tarde flows concentration whereas financial and investment linkages are acting with developed countries. The main directions of increasing of the financial linkages results in the free trade zones have been discovered.

An integrated model for simulating nitrogen trading in an agricultural catchment with complex hydrogeology.

Science.gov (United States)

Cox, T J; Rutherford, J C; Kerr, S C; Smeaton, D C; Palliser, C C

2013-09-30

Nitrogen loads to several New Zealand lakes are dominated by nonpoint runoff from pastoral farmland which adversely affects lake water quality. A 'cap and trade' scheme is being considered to help meet targets set for nitrogen loads to Lake Rotorua, and a numerical model, NTRADER, has been developed to simulate and compare alternative schemes. NTRADER models both the geophysics of nitrogen generation and transport, including groundwater lag times, and the economics of 'cap and trade' schemes. It integrates the output from several existing models, including a farm-scale nitrogen leaching and abatement model, a farm-scale management economic model, and a catchment-scale nitrogen transport model. This paper details modeling methods and compares possible trading program design features for the Lake Rotorua catchment. Model simulations demonstrate how a cap and trade program could be used to effectively achieve challenging environmental goals in the targeted catchment. However, results also show that, due to complex hydrogeology, satisfactory environmental outcomes may be not achieved unless groundwater lag times are incorporated into the regulatory scheme. One way to do this, as demonstrated here, would be to explicitly include lag times in the cap and trade program. The utility of the model is further demonstrated by quantifying relative differences in abatement costs across potential regulatory schemes. Copyright © 2013 Elsevier Ltd. All rights reserved.

A multi-lateral trading model for coupled gas-heat-power energy networks

International Nuclear Information System (INIS)

Chen, Yue; Wei, Wei; Liu, Feng; Mei, Shengwei

2017-01-01

Highlights: •Optimal energy flows in the gas, heat, and power systems are modeled in detail. •A multi-lateral trading model for the coupled energy markets is proposed. •A two-phase algorithm for computing the market equilibrium. •Case studies demonstrate that market competition pilots reasonable energy prices. -- Abstract: The proliferation of cogeneration technology and the need for more resilient energy utilization inspire the emerging trend of integration of multi-resource energy systems, in which natural gas, heat, and electricity are produced, delivered, converted, and distributed more efficiently and flexibly. The increasing interactions and interdependencies across heterogenous physical networks impose remarkable challenges on the operation and market organization. This paper envisions the market trading scheme in the network-coupled natural gas system, district heating system, and power system. Based on the physical energy flow models of each system and their interdependency, a multi-lateral trading gas-heat-power (MLT-GHP) model is suggested, and a mixed-integer linear programming based two-phase algorithm is developed to find the market equilibrium. Case studies on two testing systems demonstrate the effectiveness of the proposed model and method, showing that the multi-lateral trading essentially results in market competition that orientates reasonable energy prices. Some prospects for future researches are also summarized.

Trade Liberalisation and Poverty in Bangladesh: A General Equilibrium Approach

OpenAIRE

Nahar, Bodrun; Siriwardana, Mahinda

2009-01-01

This paper uses a computable general equilibrium (CGE) model to investigate the impact on poverty of trade liberalisation in Bangladesh. The simulation results show that the complete removal of tariffs favours export oriented sectors in the economy. With trade liberalisation, rural and urban areas experience an overall reduction in poverty in the short run. However, a marginal increase in the poverty gap and poverty severity for urban areas is projected, implying that the poor become poorer i...

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

OpenAIRE

Itay Goldstein; Assaf Razin

2005-01-01

The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI).The model describes an information-based trade off between direct investments and portfolio investments. Direct investors are more informed about the fundamentals of their projects. This information enables them to manage their projects more efficiently. However, it also creates an asymmetric-information problem in case they need to sell their projects prematurely, and reduces the price they...

Additive versus multiplicative trade costs and the gains from trade

DEFF Research Database (Denmark)

Sørensen, Allan

This paper addresses welfare effects from trade liberalization in a heterogeneous-fi…rms trade model including the empirically important per-unit (i.e. additive) trade costs in addition to the conventional iceberg (i.e. multiplicative) and fi…xed trade costs. The novel contribution of the paper...... is the result that the welfare gain for a given increase in trade openness is higher for reductions in per-unit (additive) trade costs than for reductions in iceberg (multiplicative) trade costs. The ranking derives from differences in intra-industry reallocations and in particular from dissimilar impacts...

Of Uberfleas and Krakens: Detecting Trade-offs Using Mixed Models.

Science.gov (United States)

Careau, Vincent; Wilson, Robbie S

2017-08-01

All animals experience performance trade-offs as they complete tasks such as capturing prey, defending territories, acquiring mates, and escaping predators. Why then, is it so hard to detect performance trade-offs at the whole-organismal level? Why do we sometimes even obtain positive correlations between two performance traits that are predicted to be negatively associated? Here we explore two plausible explanations. First, most analyses are based on individual maximal values (i.e., personal best), which could introduce a bias in the correlation estimates. Second, phenotypic correlations alone may be poor indicators of a trade-off when contrasting processes occur at the among- versus within-individual levels. One such scenario is the "big houses big cars" model developed in life-history theory to explain the existence of "uberfleas" that are superior in all regards (because they acquire more resources than others). We highlight that the exact opposite scenario might occur for performance trade-offs, where among-individual trade-offs may be masked by within-individual changes in physical condition. One of the best ways to test among these alternative scenarios is to collect repeated pairs of performance traits and analyze them using multivariate mixed models (MMMs). MMMs allow straightforward and simultaneous examination of trait correlations at the among- and within-individual levels. We use a simple simulation tool (SQuID package in R) to create a population of Krakens, a mythical giant squid-like sea creature whose morphology generates a performance trade-off between swimming speed and strength or ability to sink ships. The simulations showed that using individual maximum values introduces a bias that is particularly severe when individuals differ in the number of repeated samples (ntrial). Finally, we show how MMMs can help detect performance (or any other type of) trade-offs and offer additional insights (e.g., help detect plasticity integration). We hope

Trade potential of climate smart goods of Vietnam: An application of gravity model

Directory of Open Access Journals (Sweden)

Trung Van Vu

2016-01-01

Full Text Available This paper examines the trade potential of climate smart goods (CSG of Vietnam. In particular, the study employs gravity model with panel data for bilateral trade between Vietnam and its 45 partners from 2002 to 2013 with an objective of identifying the determinants explaining Vietnam's trade of climate smart products. The estimation results reveal that economic size, market size, distance, real exchange rate, border, and the quality of infrastructure of both Vietnam and its trading partners play a major role in bilateral trade of CSG. Additionally, the paper applies the method using speed of convergence and the estimated gravity equation to answer whether Vietnam has fully realized the potential trade of CSG. Accordingly, Vietnam has strong opportunity for trade expansion with 19 out of 45 countries in the scope of this paper.

International competition in vertically differentiated markets with innovation and imitation: trade policy versus free trade

Czech Academy of Sciences Publication Activity Database

Kováč, E.; Žigić, Krešimir

-, č. 336 (2007), s. 1-51 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : vertical differentiation * free trade * strategic trade policy Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp336.pdf

Financing models for HTR plants: Co-financing, counter trade, joint ventures

International Nuclear Information System (INIS)

Bogen, J.; Stoelzl, D.

1987-01-01

Structure and volume of investment cost for HTR nuclear power plants are different in comparison to other types of nuclear power plants. Even if the share of local participation is in comparable order of magnitude to other nuclear power plants, the required technical infrastructure for HTR plants is more suitable for existing and still practised technologies in countries which are in development processes. These HTR specific features offer special possibilities in HTR project financing. Various models are discussed in respect of the special HTR situation. Even if it is not possible to point out in a general manner the best solution - due to national, local and time dependant situations - this paper discusses the HTR specific impacts to buyer's credit financing, supplier's credit financing, barter trades or joint ventures and combined financing. (author). 4 refs, 9 figs

Derivative Trade Optimizing Model Utilizing GP Based on Behavioral Finance Theory

Science.gov (United States)

Matsumura, Koki; Kawamoto, Masaru

This paper proposed a new technique which makes the strategy trees for the derivative (option) trading investment decision based on the behavioral finance theory and optimizes it using evolutionary computation, in order to achieve high profitability. The strategy tree uses a technical analysis based on a statistical, experienced technique for the investment decision. The trading model is represented by various technical indexes, and the strategy tree is optimized by the genetic programming(GP) which is one of the evolutionary computations. Moreover, this paper proposed a method using the prospect theory based on the behavioral finance theory to set psychological bias for profit and deficit and attempted to select the appropriate strike price of option for the higher investment efficiency. As a result, this technique produced a good result and found the effectiveness of this trading model by the optimized dealings strategy.

Implied liquidity : towards stochastic liquidity modeling and liquidity trading

NARCIS (Netherlands)

Corcuera, J.M.; Guillaume, F.M.Y.; Madan, D.B.; Schoutens, W.

2010-01-01

In this paper we introduce the concept of implied (il)liquidity of vanilla options. Implied liquidity is based on the fundamental theory of conic finance, in which the one-price model is abandoned and replaced by a two-price model giving bid and ask prices for traded assets. The pricing is done by

International trade inoperability input-output model (IT-IIM): theory and application.

Science.gov (United States)

Jung, Jeesang; Santos, Joost R; Haimes, Yacov Y

2009-01-01

The inoperability input-output model (IIM) has been used for analyzing disruptions due to man-made or natural disasters that can adversely affect the operation of economic systems or critical infrastructures. Taking economic perturbation for each sector as inputs, the IIM provides the degree of economic production impacts on all industry sectors as the outputs for the model. The current version of the IIM does not provide a separate analysis for the international trade component of the inoperability. If an important port of entry (e.g., Port of Los Angeles) is disrupted, then international trade inoperability becomes a highly relevant subject for analysis. To complement the current IIM, this article develops the International Trade-IIM (IT-IIM). The IT-IIM investigates the resulting international trade inoperability for all industry sectors resulting from disruptions to a major port of entry. Similar to traditional IIM analysis, the inoperability metrics that the IT-IIM provides can be used to prioritize economic sectors based on the losses they could potentially incur. The IT-IIM is used to analyze two types of direct perturbations: (1) the reduced capacity of ports of entry, including harbors and airports (e.g., a shutdown of any port of entry); and (2) restrictions on commercial goods that foreign countries trade with the base nation (e.g., embargo).

International competition in vertically differentiated markets with innovation and imitation: trade policy versus free trade

Czech Academy of Sciences Publication Activity Database

Kováč, Eugen; Žigić, K.

-, č. 336 (2007), s. 1-51 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : vertical differentiation * free trade * strategic trade policy Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp336.pdf

INDONESIAN TRADE UNDER CHINA FREE TRADE AREA

Directory of Open Access Journals (Sweden)

Tavi Supriana

2011-09-01

Full Text Available This paper investigates the implementation of CAFTA (China-Asean Free Trade Area on the international trade flows across Indonesia, China and the rest of ASEAN using a gravitation model. It finds the evidence that the influence of diversion and creation effects on China are significant, while the influence of both effects on Indonesia are not significant. It also finds that the diversion effect, which leads to a decrease in society’s wealth, is greater than that of the creation effect. As a consequence, the gap across countries involved in the trade agreement is wider. Keywords: CAFTA, gravitation model, diversion effect, creation effectJEL classification numbers: F13, F14, F15

Yet Another Trading Simulation: The nonimmediacy Model

OpenAIRE

Jeyasreedharan, Nagaratnam

2007-01-01

Market participants who want to trade “quickly” demand transactional liquidity. Market participants who demand to trade “immediately” demand transactional immediacy. Traders supply immediacy when the trading returns are high and demand immediacy when the trading returns are low. Traders supply immediacy by being non-immediate and traders demand immediacy by being immediate. As these time-based expectations are functions of the underlying distributions of the clearing prices, one is able to de...

Mechanisms and Model Diversity of Trade-Wind Shallow Cumulus Cloud Feedbacks: A Review

Science.gov (United States)

Vial, Jessica; Bony, Sandrine; Stevens, Bjorn; Vogel, Raphaela

2017-11-01

Shallow cumulus clouds in the trade-wind regions are at the heart of the long standing uncertainty in climate sensitivity estimates. In current climate models, cloud feedbacks are strongly influenced by cloud-base cloud amount in the trades. Therefore, understanding the key factors controlling cloudiness near cloud-base in shallow convective regimes has emerged as an important topic of investigation. We review physical understanding of these key controlling factors and discuss the value of the different approaches that have been developed so far, based on global and high-resolution model experimentations and process-oriented analyses across a range of models and for observations. The trade-wind cloud feedbacks appear to depend on two important aspects: (1) how cloudiness near cloud-base is controlled by the local interplay between turbulent, convective and radiative processes; (2) how these processes interact with their surrounding environment and are influenced by mesoscale organization. Our synthesis of studies that have explored these aspects suggests that the large diversity of model responses is related to fundamental differences in how the processes controlling trade cumulus operate in models, notably, whether they are parameterized or resolved. In models with parameterized convection, cloudiness near cloud-base is very sensitive to the vigor of convective mixing in response to changes in environmental conditions. This is in contrast with results from high-resolution models, which suggest that cloudiness near cloud-base is nearly invariant with warming and independent of large-scale environmental changes. Uncertainties are difficult to narrow using current observations, as the trade cumulus variability and its relation to large-scale environmental factors strongly depend on the time and/or spatial scales at which the mechanisms are evaluated. New opportunities for testing physical understanding of the factors controlling shallow cumulus cloud responses using

Mechanisms and Model Diversity of Trade-Wind Shallow Cumulus Cloud Feedbacks: A Review

Science.gov (United States)

Vial, Jessica; Bony, Sandrine; Stevens, Bjorn; Vogel, Raphaela

Shallow cumulus clouds in the trade-wind regions are at the heart of the long standing uncertainty in climate sensitivity estimates. In current climate models, cloud feedbacks are strongly influenced by cloud-base cloud amount in the trades. Therefore, understanding the key factors controlling cloudiness near cloud-base in shallow convective regimes has emerged as an important topic of investigation. We review physical understanding of these key controlling factors and discuss the value of the different approaches that have been developed so far, based on global and high-resolution model experimentations and process-oriented analyses across a range of models and for observations. The trade-wind cloud feedbacks appear to depend on two important aspects: (1) how cloudiness near cloud-base is controlled by the local interplay between turbulent, convective and radiative processes; (2) how these processes interact with their surrounding environment and are influenced by mesoscale organization. Our synthesis of studies that have explored these aspects suggests that the large diversity of model responses is related to fundamental differences in how the processes controlling trade cumulus operate in models, notably, whether they are parameterized or resolved. In models with parameterized convection, cloudiness near cloud-base is very sensitive to the vigor of convective mixing in response to changes in environmental conditions. This is in contrast with results from high-resolution models, which suggest that cloudiness near cloud-base is nearly invariant with warming and independent of large-scale environmental changes. Uncertainties are difficult to narrow using current observations, as the trade cumulus variability and its relation to large-scale environmental factors strongly depend on the time and/or spatial scales at which the mechanisms are evaluated. New opportunities for testing physical understanding of the factors controlling shallow cumulus cloud responses using

Investment appraisal of heat and power plants within an emissions trading scheme. Final Report of the INVIS Project

International Nuclear Information System (INIS)

Laurikka, H.; Pirilae, P.

2005-04-01

The opportunity cost for carbon dioxide (CO 2 ) emissions has become a new factor influencing investments in heat and power production capacity globally, and in particular in countries with a greenhouse gas emissions trading system, such as the European Union Emissions Trading Scheme (EU ETS). There is a considerable power capacity investment need in the coming decades in Finland, in Europe and globally. As the economic lifetime of an investment in heat and power capacity typically ranges from 20-40 years, 'carbon finance' and the EU ETS therefore introduce a considerable and fundamental price risk to the investment problem. In Europe, the price risk is present in all investments and divestments of power production licences or capacity, be it a green-field plant, a retrofit of an existing plant or an acquisition. The objective of the INVIS research project was to extend the knowledge on strategic implications of emissions trading in investments into heat and power generation. This report gives an overview on the main findings of the project. The focus of INVIS project was on (1) quantitative investment appraisal and (2) methods rather than tools or parameter values. Particular attention in the INVIS project was paid to the incorporation of emissions trading in new methods of investment appraisal, which aim at taking into account the value of real options, rights to postpone or revise decisions. The EU ETS modifies the quantitative investment appraisal of heat and power plants directly through the emission allowance price and the number of free allowances and indirectly through impacts on output prices, input prices, taxation, and subsidies. From the risk perspective, the most problematic impact seems to be the regulatory uncertainty in the number of free allowances, which can turn out to be a barrier for investment in fossil-fuel-fired thermal power plants - even combined-cycle gas turbines. The emission allowance price is a stochastic variable, which implies it is

Factors of trade in Europe

Czech Academy of Sciences Publication Activity Database

Hanousek, Jan; Kočenda, Evžen

2014-01-01

Roč. 38, č. 4 (2014), s. 518-535 ISSN 0939-3625 R&D Projects: GA ČR(CZ) GAP403/12/0080 Grant - others:UK(CZ) UNCE 204005/2012 Institutional support: PRVOUK-P23 Keywords : bilateral trade * factors of trade * panel data Subject RIV: AH - Economics Impact factor: 0.649, year: 2014

MCDA-C model for trade marketing performance evaluation: an illustrated case in the pharmaceutical sector

Directory of Open Access Journals (Sweden)

André Andrade Longaray

2016-03-01

Full Text Available Since its introduction in the early 1990s, trade marketing has played a significant role in companies and their distribution channels, focusing on the consolidation of marketing strategy at the point of purchase. In practice, one of the main obstacles for a more widespread use of trade marketing has been the lack of management tools allowing visualisation of the consequences of trade marketing in the organisation's objectives. This study shows the use of the Multi-Criteria Decision Aiding–Constructivist methodology model as an instrument of intervention in a case study conducted in a pharmaceutical company. A customised evaluation model was built interactively by interviewing decision makers to identify, organise, measure, and integrate those factors considered necessary and sufficient for the management of trade marketing. The constructed model enables executives to incorporate unique aspects of the company and the environment, expanding the possibilities for performance evaluation of trade marketing in the organisation.

Global maize trade and food security: implications from a social network model.

Science.gov (United States)

Wu, Felicia; Guclu, Hasan

2013-12-01

In this study, we developed a social network model of the global trade of maize: one of the most important food, feed, and industrial crops worldwide, and critical to food security. We used this model to analyze patterns of maize trade among nations, and to determine where vulnerabilities in food security might arise if maize availability was decreased due to factors such as diversion to nonfood uses, climatic factors, or plant diseases. Using data on imports and exports from the U.N. Commodity Trade Statistics Database for each year from 2000 to 2009 inclusive, we summarized statistics on volumes of maize trade between pairs of nations for 217 nations. There is evidence of market segregation among clusters of nations; with three prominent clusters representing Europe, Brazil and Argentina, and the United States. The United States is by far the largest exporter of maize worldwide, whereas Japan and the Republic of Korea are the largest maize importers. In particular, the star-shaped cluster of the network that represents U.S. maize trade to other nations indicates the potential for food security risks because of the lack of trade these other nations conduct with other maize exporters. If a scenario arose in which U.S. maize could not be exported in as large quantities, maize supplies in many nations could be jeopardized. We discuss this in the context of recent maize ethanol production and its attendant impacts on food prices elsewhere worldwide. © 2013 Society for Risk Analysis.

Additive versus Multiplicative Trade Costs and the Gains from Trade Liberalizations

DEFF Research Database (Denmark)

Sørensen, Allan

2014-01-01

This paper addresses welfare e¤ects from trade liberalization in a Melitz (2003) heterogeneous-…rms trade model including the empirically important per-unit (i.e. additive) trade costs in addition to the conventional iceberg (i.e. multiplicative) and …xed trade costs. The novel contribution...... of the pa- per is the result that the welfare gain for a given increase in trade openness is higher for reductions in per-unit (additive) trade costs than for reductions in iceberg (multiplicative) trade costs. The ranking derives from di¤erences in intra-industry reallocations and in particular from...

Trade and Development

DEFF Research Database (Denmark)

Abbott, Philip; Bentzen, Jeanet; Tarp, Finn

2009-01-01

History, not predictions of CGE models or cross-country growth studies, shows a strong relationship between trade and development. Vietnam's experience with bilateral trade agreements, comparing actual outcomes with predictions from existing models, demonstrates this and the limitations of research...

The continental free trade area

DEFF Research Database (Denmark)

Sandrey, Ron; Jensen, Hans Grinsted

The Trade Law Centre (tralac) has recently capitalised upon the prerelease Version 9.2 of the Global Trade Analysis Project (GTAP) database and the recent excellent data sets from the World Bank and other publishing quality data on trade barriers across the African continent. It undertook a series...... of simulations examining regional integration and intra-African trade barrier reductions. The results for tariff elimination on intra-African trade are promising. But the real news is in confirming that these barriers are not as significant as the various trade-related barriers except for tariffs. Especially...... impressive results were forecast by simulating a modest 20% reduction in the costs associated with the particular African problem of transit time delays at customs, terminals and internal land transportation. These gains are significantly above both just intraAfrican tariff elimination and what may...

EU's CO2 trade a high risk project

International Nuclear Information System (INIS)

Wellander, Dag

2003-01-01

The uncertainty about the planned CO 2 trade of the European Union (EU) is very great. For the possible buyers in this politically created market the risks may be great and difficult to assess. The most effective way of forcing a reduction of emissions is trading emission licences. But this requires taking a stand on issues of very unpleasant nature. And the Kyoto protocol evades these questions, it is a thin document right from the beginning. Trade in emission licences is one of the three so-called flexible mechanisms of the Kyoto agreement. The second mechanism is joint implementation in which one industrialized country carries out emission reduction actions in another industrialized country. The third is the mechanism of clean development, in which one industrialized country takes remedial actions in a developing country. It is unclear how these mechanisms are to act in accordance with each other, both in the Kyoto Protocol and on the level of the EU. The biggest and most fundamental uncertainty, both on the EU and global levels, relates to the fact that the partners have not decided how to define the right of ownership of emissions of a certain size

Enforcement of emissions trading: Sanction regimes of greenhouse gas emissions trading in the EU and China

NARCIS (Netherlands)

Peeters, M.G.W.M.; Chen, Huizhen

2015-01-01

Abstract: This chapter aims to further the debate regarding the role of law for establishing an adequate enforcement strategy for an emissions trading scheme. We focus on sanction regimes within the EU ETS and the Chinese emissions trading pilot projects. Section 2 sets the scene by pointing at the

Coupled chaotic fluctuations in a model of international trade and innovation: Some preliminary results

Science.gov (United States)

Sushko, Iryna; Gardini, Laura; Matsuyama, Kiminori

2018-05-01

We consider a two-dimensional continuous noninvertible piecewise smooth map, which characterizes the dynamics of innovation activities in the two-country model of trade and product innovation proposed in [7]. This two-dimensional map can be viewed as a coupling of two one-dimensional skew tent maps, each of which characterizes the innovation dynamics in each country in the absence of trade, and the coupling parameter depends inversely on the trade cost between the two countries. Hence, this model offers a laboratory for studying how a decline in the trade cost, or globalization, might synchronize endogenous fluctuations of innovation activities in the two countries. In this paper, we focus on the bifurcation scenarios, how the phase portrait of the two-dimensional map changes with a gradual decline of the trade cost, leading to border collision, merging, expansion and final bifurcations of the coexisting chaotic attractors. An example of peculiar border collision bifurcation leading to an increase of dimension of the chaotic attractor is also presented.

How does trade-mediated technology transfer affect interregional and intersectoral competition? Exploring multi-sectoral effects in a global trade model

OpenAIRE

Das, Gouranga

2009-01-01

In this paper, all technology transfers are embodied in trade flows within a three-region, six-tradedcommodity version of the GTAP model. 4% Hicks-Neutral technical progress in heavy manufacturing in one region has uneven impacts on productivity elsewhere. Why? Destination regions’ ability to harness new technology depends on their absorptive capacity and on the structural congruence of the source and destination. Together with trade volume, these two factors determine the recipi...

Why are Trade Agreements Regional?

OpenAIRE

Zissimos, Ben

2007-01-01

This paper shows how distance may be used to coordinate on a unique equilibrium in which trade agreements are regional. Trade agreement formation is modeled as coalition formation. In a standard trade model with no distance between countries, a familiar problem of coordination failure arises giving rise to multiple equilibria; any one of many possible trade agreements can form. With distance between countries, and through strategic interaction in tariff setting, regional trade agreements gene...

Enforcement of emissions trading - sanction regimes of greenhouse gas emissions trading in the EU and China

NARCIS (Netherlands)

Peeters, Marjan; Chen, Huizhen; Weishaar, Stefan

2016-01-01

This chapter aims to further the debate regarding the role of law for establishing an adequate enforcement strategy for an emissions trading scheme. We focus on sanction regimes within the EU ETS and the Chinese emissions trading pilot projects. Section 2 sets the scene by pointing at the need of an

The relationship between trading volumes, number of transactions, and stock volatility in GARCH models

Science.gov (United States)

Takaishi, Tetsuya; Chen, Ting Ting

2016-08-01

We examine the relationship between trading volumes, number of transactions, and volatility using daily stock data of the Tokyo Stock Exchange. Following the mixture of distributions hypothesis, we use trading volumes and the number of transactions as proxy for the rate of information arrivals affecting stock volatility. The impact of trading volumes or number of transactions on volatility is measured using the generalized autoregressive conditional heteroscedasticity (GARCH) model. We find that the GARCH effects, that is, persistence of volatility, is not always removed by adding trading volumes or number of transactions, indicating that trading volumes and number of transactions do not adequately represent the rate of information arrivals.

Grand canonical validation of the bipartite international trade network

Science.gov (United States)

Straka, Mika J.; Caldarelli, Guido; Saracco, Fabio

2017-08-01

Devising strategies for economic development in a globally competitive landscape requires a solid and unbiased understanding of countries' technological advancements and similarities among export products. Both can be addressed through the bipartite representation of the International Trade Network. In this paper, we apply the recently proposed grand canonical projection algorithm to uncover country and product communities. Contrary to past endeavors, our methodology, based on information theory, creates monopartite projections in an unbiased and analytically tractable way. Single links between countries or products represent statistically significant signals, which are not accounted for by null models such as the bipartite configuration model. We find stable country communities reflecting the socioeconomic distinction in developed, newly industrialized, and developing countries. Furthermore, we observe product clusters based on the aforementioned country groups. Our analysis reveals the existence of a complicated structure in the bipartite International Trade Network: apart from the diversification of export baskets from the most basic to the most exclusive products, we observe a statistically significant signal of an export specialization mechanism towards more sophisticated products.

Grand canonical validation of the bipartite international trade network.

Science.gov (United States)

Straka, Mika J; Caldarelli, Guido; Saracco, Fabio

2017-08-01

Devising strategies for economic development in a globally competitive landscape requires a solid and unbiased understanding of countries' technological advancements and similarities among export products. Both can be addressed through the bipartite representation of the International Trade Network. In this paper, we apply the recently proposed grand canonical projection algorithm to uncover country and product communities. Contrary to past endeavors, our methodology, based on information theory, creates monopartite projections in an unbiased and analytically tractable way. Single links between countries or products represent statistically significant signals, which are not accounted for by null models such as the bipartite configuration model. We find stable country communities reflecting the socioeconomic distinction in developed, newly industrialized, and developing countries. Furthermore, we observe product clusters based on the aforementioned country groups. Our analysis reveals the existence of a complicated structure in the bipartite International Trade Network: apart from the diversification of export baskets from the most basic to the most exclusive products, we observe a statistically significant signal of an export specialization mechanism towards more sophisticated products.

A Comparative Analysis of Trade Facilitation in Selected Regional and Bilateral Trade Agreement

OpenAIRE

Institute for International Trade

2006-01-01

This study compared the treatment of trade facilitation in four selected regional trade agreements, AFTA, APEC, SAFRA and PACER, and in one bilateral free trade agreement being the Australia-Singapore Free Trade Agreement (ASFTA), with a view to determining model trade facilitation principles and measures which may be instructive for developing country negotiations and policy makers.

Energy trading

International Nuclear Information System (INIS)

Glachant, J.M.; Kimman, R.; Schweickardt, H.E.

2001-05-01

This document brings together 18 testimonies of experts about energy trading: 1 - the energy trading experience on European deregulated markets: structure of deregulated energy markets in Europe, case study: a two years experience of a power exchange in western Europe, case study: European energy exchanges (experience of spot and future trading), case study: risk management on energy deregulated markets; 2 - the trading activity environment and realities in France: the French electrical law and the purchase for resale, experience feedback: status after 3 months of trading in France (the first experience of a French producer), the access to the power transportation network, which legal constraints for trading in France, the access of eligible clients to the French power market, conditions of implementation of a power exchange market in France, which real trading possibilities in France for producers and self-producers in the legal frame, case study: the role of trading in the company (main part or link to process), convergence of gas and electricity markets, gas-electricity trading: which pricing models; 3 - risk management and use of new technologies potentiality, the results outside the French borders: case study: what differences between the European and US markets, prices volatility and commodity risk management: towards the on-line trading, role and developments of E-business in energy trading, how to simplify trade in a liberalized market. (J.S.)

Trade reform in Iran for accession to the World Trade Organization

NARCIS (Netherlands)

Farajzadeh, Zakariya; Zhu, Xueqin; Bakhshoodeh, Mohammad

2017-01-01

We developed a computable general equilibrium (CGE) model to study the potential welfare and environmental impacts of Iran's trade reform for accession to the World Trade Organization (WTO). Our results show that removing trade barriers not only results in higher welfare and GDP as well as lower

Agent-based model with asymmetric trading and herding for complex financial systems.

Science.gov (United States)

Chen, Jun-Jie; Zheng, Bo; Tan, Lei

2013-01-01

For complex financial systems, the negative and positive return-volatility correlations, i.e., the so-called leverage and anti-leverage effects, are particularly important for the understanding of the price dynamics. However, the microscopic origination of the leverage and anti-leverage effects is still not understood, and how to produce these effects in agent-based modeling remains open. On the other hand, in constructing microscopic models, it is a promising conception to determine model parameters from empirical data rather than from statistical fitting of the results. To study the microscopic origination of the return-volatility correlation in financial systems, we take into account the individual and collective behaviors of investors in real markets, and construct an agent-based model. The agents are linked with each other and trade in groups, and particularly, two novel microscopic mechanisms, i.e., investors' asymmetric trading and herding in bull and bear markets, are introduced. Further, we propose effective methods to determine the key parameters in our model from historical market data. With the model parameters determined for six representative stock-market indices in the world, respectively, we obtain the corresponding leverage or anti-leverage effect from the simulation, and the effect is in agreement with the empirical one on amplitude and duration. At the same time, our model produces other features of the real markets, such as the fat-tail distribution of returns and the long-term correlation of volatilities. We reveal that for the leverage and anti-leverage effects, both the investors' asymmetric trading and herding are essential generation mechanisms. Among the six markets, however, the investors' trading is approximately symmetric for the five markets which exhibit the leverage effect, thus contributing very little. These two microscopic mechanisms and the methods for the determination of the key parameters can be applied to other complex

THE SAVINGS-TRADE-FISCAL GAP MODEL: APPLICATION IN SELECTED WEST AFRICAN STATES

Directory of Open Access Journals (Sweden)

Efayena Oba Obukohwo

2017-07-01

Full Text Available With most African economies experiencing adverse economic misalignment in recent times, the need of enhancing the growth process cannot be overemphasized. Using a typical Savings-Trade-Fiscal Gap Model, the paper employed panel data estimation method to examine the impact of savings, trade and fiscal gap on economic growth of 15 West African countries. The paper finds a negative relationship between net trade and economic growth, while savings and government expenditure impacts positively on economic performance. The paper thus, among recommended that it is appropriate for all countries to eliminate fiscal dominance from monetary policy-making, reduce public debt and establish institutions that promote and encourage counter-cyclical fiscal policy, develop their financial systems, establish credibility in fiscal and monetary policy-making as well as encourage trade.

Trade-space Analysis for Constellations

Science.gov (United States)

Le Moigne, J.; Dabney, P.; de Weck, O. L.; Foreman, V.; Grogan, P.; Holland, M. P.; Hughes, S. P.; Nag, S.

2016-12-01

Traditionally, space missions have relied on relatively large and monolithic satellites, but in the past few years, under a changing technological and economic environment, including instrument and spacecraft miniaturization, scalable launchers, secondary launches as well as hosted payloads, there is growing interest in implementing future NASA missions as Distributed Spacecraft Missions (DSM). The objective of our project is to provide a framework that facilitates DSM Pre-Phase A investigations and optimizes DSM designs with respect to a-priori Science goals. In this first version of our Trade-space Analysis Tool for Constellations (TAT-C), we are investigating questions such as: "How many spacecraft should be included in the constellation? Which design has the best cost/risk value?" The main goals of TAT-C are to: Handle multiple spacecraft sharing a mission objective, from SmallSats up through flagships, Explore the variables trade space for pre-defined science, cost and risk goals, and pre-defined metrics Optimize cost and performance across multiple instruments and platforms vs. one at a time. This paper describes the overall architecture of TAT-C including: a User Interface (UI) interacting with multiple users - scientists, missions designers or program managers; an Executive Driver gathering requirements from UI, then formulating Trade-space Search Requests for the Trade-space Search Iterator first with inputs from the Knowledge Base, then, in collaboration with the Orbit & Coverage, Reduction & Metrics, and Cost& Risk modules, generating multiple potential architectures and their associated characteristics. TAT-C leverages the use of the Goddard Mission Analysis Tool (GMAT) to compute coverage and ancillary data, streamlining the computations by modeling orbits in a way that balances accuracy and performance. TAT-C current version includes uniform Walker constellations as well as Ad-Hoc constellations, and its cost model represents an aggregate model

Czech experience with market maker trading system

Czech Academy of Sciences Publication Activity Database

Hanousek, Jan; Podpiera, R.

2004-01-01

Roč. 28, č. 2 (2004), s. 177-191 ISSN 0939-3625 R&D Projects: GA MŠk ME 595 Institutional research plan: CEZ:AV0Z7085904 Keywords : trading systems * informed trading * emerging markets Subject RIV: AH - Economics

Model-Based Engineering Design for Trade Space Exploration throughout the Design Cycle

Science.gov (United States)

Lamassoure, Elisabeth S.; Wall, Stephen D.; Easter, Robert W.

2004-01-01

This paper presents ongoing work to standardize model-based system engineering as a complement to point design development in the conceptual design phase of deep space missions. It summarizes two first steps towards practical application of this capability within the framework of concurrent engineering design teams and their customers. The first step is standard generation of system sensitivities models as the output of concurrent engineering design sessions, representing the local trade space around a point design. A review of the chosen model development process, and the results of three case study examples, demonstrate that a simple update to the concurrent engineering design process can easily capture sensitivities to key requirements. It can serve as a valuable tool to analyze design drivers and uncover breakpoints in the design. The second step is development of rough-order- of-magnitude, broad-range-of-validity design models for rapid exploration of the trade space, before selection of a point design. At least one case study demonstrated the feasibility to generate such models in a concurrent engineering session. The experiment indicated that such a capability could yield valid system-level conclusions for a trade space composed of understood elements. Ongoing efforts are assessing the practicality of developing end-to-end system-level design models for use before even convening the first concurrent engineering session, starting with modeling an end-to-end Mars architecture.

The trading game : emissions trading schemes offer pollution as a market commodity

Energy Technology Data Exchange (ETDEWEB)

Bradbury, D.

2005-07-01

This paper discussed the market mechanisms for emissions trading. The concept emerged in signatory countries to the Kyoto Protocol in response to their commitment to reduce greenhouse gas (GHG) emissions. Emissions trading systems allow large polluters to buy and sell pollution credits in order to meet emission reduction targets. While member states in the European Union (EU) started trading in February 2005, Canada is still developing its own proposal that will be introduced in 2008 to correspond with the first phase of the Kyoto Protocol. In contrast to the European model that places absolute limits on GHG emissions, the Canadian system is intensity-based. Heavy polluters, known as large final emitters, will have to cut emissions of the 6 GHGs covered under the Kyoto Protocol as a percentage of their total industrial output. Companies that reduce their emissions more than their defined targets can trade the surplus as credits on the open domestic market. It was argued that this allows businesses to meet their own emissions targets while failing to contribute effectively to Canada's overall Kyoto target. In addition, in order to lessen the burden to industry, Canada has imposed a $15 cap on the price of credits, which is in contrast to the European system. It was argued that businesses in Europe will be more motivated to meet their targets because of the higher value on European pollution credits. With less onus on business in Canada to reduce absolute targets, the burden of reducing GHG emissions has shifted to federal taxpayers. The paper addressed some of the factors that led to Canada's decision to use an intensity-based system. One main factor was the refusal of the United States to ratify the Kyoto Protocol and the cost disadvantage this would create for Canadian firms. However, some argue that by paying more attention to energy use, companies can reduce emissions and increase shareholder value by achieving cost savings that are greater than the

Process of optimization of retail trade spatial development with application of locational-alocational models

Directory of Open Access Journals (Sweden)

Kukrika Milan

2008-01-01

Full Text Available This article gives a simple and brief scope of structure and usage of location-allocation models in territory planning of retail network, trying to show the main shortage of some given models and the primary direction of their future improving. We give an inspection of theirs main usage and give an explanation of basic factors that models take in consideration during the process of demand allocation. Location-allocation models are an important segment of development of spatial retail network optimization process. Their future improvement is going towards their approximation and integration with spatial-interaction models. In this way, much better methodology of planning and directing spatial development of trade general. Methodology which we have used in this research paper is based on the literature and research projects in the area. Using this methodology in analyzing parts of Serbian territory through usage of location-allocation models, showed the need for creating special software for calculating matrix with recursions. Considering the fact that the integration of location-allocation models with GIS still didn't occur, all the results acquired during the calculation of methaformula has been brought into ArcGIS 9.2 software and presented as maps.

Trade, Gender and Equity in Latin America : Knowledge for Political ...

International Development Research Centre (IDRC) Digital Library (Canada)

This project will analyze the complex trade liberalization-gender equity nexus, focusing ... Interface of research on gender and trade with the negotiations of trade agreements ... IDRC invites applications for the IDRC Doctoral Research Awards.

Gravity Models of Trade-Based Money Laundering

OpenAIRE

Ferwerda, Joras; Kattenberg, Marc; Chang, Han-Hsin; Unger, Brigitte; Groot, Loek; Bikker, Jaap

2011-01-01

Several attempts have been made in the economics literature to measure money laundering. However, the adequacy of these models is difficult to assess, as money laundering takes place secretly and, hence, goes unobserved. An exception is tradebased money laundering (TBML), a special form of trade abuse that has been discovered only recently. TBML refers to criminal proceeds that are transferred around the world using fake invoices that under- or overvalue imports and exports. This article is a...

Model-Based Trade Space Exploration for Near-Earth Space Missions

Science.gov (United States)

Cohen, Ronald H.; Boncyk, Wayne; Brutocao, James; Beveridge, Iain

2005-01-01

We developed a capability for model-based trade space exploration to be used in the conceptual design of Earth-orbiting space missions. We have created a set of reusable software components to model various subsystems and aspects of space missions. Several example mission models were created to test the tools and process. This technique and toolset has demonstrated itself to be valuable for space mission architectural design.

Long-term outlook for world gas trade: 1920-2015

International Nuclear Information System (INIS)

MacDougall, M.W.; Linder, P.T.

1992-01-01

The World Gas Trade Model (WGTM) was designed to simulate the economic relationships of world and regional gas markets. Using the data gathered for supply, transportation and demand, the model calculated a consistent set of prices and quantities that, through time, would simultaneously satisfy all physical, behavioural and financial relations embodied in the model network. Three sensitivity cases were examined. The first one examined the effects on world gas supply, demand and trade with oil prices remaining constant throughout the study period. The second sensitivity case examined the effects of lower costs of new liquefied natural gas (LNG) liquefaction facilities. The third sensitivity case examined the effects of policy shifts in favour of natural gas over other fossil fuels for environmental reasons. During the 25-year period of the study, global production of natural gas was projected to almost double, with the overall level of final consumption being very similar to production. Results indicated that natural gas would remain predominantly a regionally traded commodity. The relatively high cost of natural gas transportation was shown to provide a substantial competitive advantage to local producers compared to more distant competitors. The cost of new liquefaction facilities was not considered to be competitive with long distance pipeline transportation. The model also indicated that reducing transportation costs or increasing the wellhead price differential between exporting and importing regions would accelerate the development of global natural gas trade. figs., tabs., refs

Linking GHG Emission Trading Systems and Markets

Energy Technology Data Exchange (ETDEWEB)

NONE

2006-07-01

Several different types of links are possible between different GHG-mitigation systems. These include: Linking two or more emission trading schemes so that emissions trading can occur both within and between different schemes ('direct links'); and Linking emission trading systems to registries/mechanisms and systems that generate offsets from project based mechanisms or from direct purchases/transfers of AAUs ('indirect links').

A Unified Trading Model Based on Robust Optimization for Day-Ahead and Real-Time Markets with Wind Power Integration

Directory of Open Access Journals (Sweden)

Yuewen Jiang

2017-04-01

Full Text Available In a conventional electricity market, trading is conducted based on power forecasts in the day-ahead market, while the power imbalance is regulated in the real-time market, which is a separate trading scheme. With large-scale wind power connected into the power grid, power forecast errors increase in the day-ahead market which lowers the economic efficiency of the separate trading scheme. This paper proposes a robust unified trading model that includes the forecasts of real-time prices and imbalance power into the day-ahead trading scheme. The model is developed based on robust optimization in view of the undefined probability distribution of clearing prices of the real-time market. For the model to be used efficiently, an improved quantum-behaved particle swarm algorithm (IQPSO is presented in the paper based on an in-depth analysis of the limitations of the static character of quantum-behaved particle swarm algorithm (QPSO. Finally, the impacts of associated parameters on the separate trading and unified trading model are analyzed to verify the superiority of the proposed model and algorithm.

The Kyoto Protocol Emissions Trading Mechanisms - A Model for financing future nuclear development in Romania

International Nuclear Information System (INIS)

Purica, Ionut; John Saroudis

2001-01-01

At the beginning of 2001 Romania ratified the Kyoto Protocol (Law 3/2001) thus becoming the first European country to do so. The mechanisms of the Kyoto Protocol are now opening new ways to sponsor the financing of nuclear projects. In May 2001 Societatea Nationala Nuclearoelectrica S.S. (SNN) and Atomic Energy of Canada Limited and ANSALDO of Italy signed a contract to complete the second CANDU unit at Cernavoda thus giving a new momentum to the nuclear program in Romania. The Government of Romania has indicated its desire to proceed with the completion of the other units on the Cernavoda site and is open to explore every potential financing mechanism to make this a reality. Although the Kyoto Protocol was not ratified by those countries that have the greatest need to reduce emissions, a market for emissions trading has developed, Canada being one of the important players in this market. Since the emission reduction per dollar invested in the Romanian nuclear program would bring much more reduction than the marginal reduction per dollar invested in environmental protection programs in Canada, where the saturation effect is already taking place, we consider that the application of the Kyoto Protocol mechanisms represents a realistic source for a sustainable cooperation of the two countries. This trend is in line with the latest activities of the International Atomic Energy Agency (IAEA). This paper analyzes the impact that the use of emissions credits would have on a typical financing scheme for a future CANDU project in Romania given the present situation and also proposes a model for the structure of the emissions trade that would generate a source of funding for the project. The conclusion is that there is real potential in using Kyoto Protocol mechanisms for financing nuclear development with benefits for both Romania and Canada. (authors)

Preferential Trade Arrangements and the Pattern of Production and Trade when Inputs are Differentiated

NARCIS (Netherlands)

J.F. François (Joseph)

2005-01-01

textabstractThis paper is concerned with rules of origin when intermediate goods are differentiated. An analytical model emphasizes trade patterns and the relative importance of trade in intermediates given trade preferences. Econometric evidence based on intra-OECD trade in motor vehicles and motor

Dietary transition, nutritional and health outcomes, and changing agrifood production and trade patterns

DEFF Research Database (Denmark)

Yu, Wusheng; Jensen, Hans Grinsted; Cao, Lijuan

efficiency and welfare consequences. Realizing that changing dietary trends are likely to be costly, in a more refined scenario, we consider public policy options to influence consumer choices for purposes of reaching a given alternative diet target. Since the costs of the policy intervention...... and health outcomes of diet transition and alternative diets on the one hand and the associated agricultural and food production and trade effects on the other hand, using the Chinese case as an example. We base this analysis in a modified GTAP model featuring the demand, production and supply and trade...... of major agricultural and food products. Taking advantages of recent methodological advances in building calorie and other nutrition data sourced from the FAO into the GTAP model and database, we further represent current and predicted dietary patterns for China in a baseline projection. The projected...

Trading green electricity

International Nuclear Information System (INIS)

Davies, M.

1997-01-01

A study has been carried out into the feasibility of developing an electricity trading mechanism which would allow consumers to purchase electricity which has been derived from renewable energy resources. This study was part funded by the European Commission (ALTENER), the Department of Trade and Industry and a number of private sector companies. The trading mechanism is known as the Green Pool. As a result of the findings of this study discussions are being held with potential generators and suppliers to establish a Green Pool plc. The aim is to encourage the development of new renewable energy projects outside the NFFO and SRO schemes. The Green Pool plc will be owned by the generators and its main objective will be to market the electricity produced by its members. (Author)

Ghana integrated to the world economy : focus on Ghana-UK-Germany trade linkage model

OpenAIRE

Sarpong, Daniel Bruce

1998-01-01

In this study of Ghana integrated to the world economy, we focus primarily on Ghana-UK-Germany trade axis partly because of Ghana?s relative dependence on the EU for her international trade. The study employs ?representative? country macroeconometric models of these economies, using data over 1970-1991, including bilateral trade links among them and with the USA and Japan, to quantitatively analyze and draw policy inference of the international transmission mechanism of macroeconomic disturba...

Trade Barrier Elimination, Economics of Scale and Market Competition: Computable General Equilibrium Model

Directory of Open Access Journals (Sweden)

Widyastutik Widyastutik

2017-07-01

Full Text Available The ASEAN and its dialogue partner countries agreed to reduce trade barriers in the services sector, one of which is sea transport services. The purpose of this study is to estimate the equivalent tax of non-tariff barriers in the sea transport services. Besides that, this study is going to analyze the economic impacts of the regulatory barriers elimination in the sea transport services of ASEAN and its dialogue partner countries. Using the gravity model, it can be identified that trade barriers of sea transport services sector of ASEAN and dialogue partner countries are still relatively high. Additionally, by adopting IC-IRTS model in Global CGE Model (GTAP, the simulation results show consistent results with the theory of pro-competitive effects. The greater gain from trade is obtained in the CGE model assuming IC-IRTS compared to PC-CRTS. China gains a greater benefit that is indicated by the highest increase in welfare and GDP followed by Japan and AustraliaDOI: 10.15408/sjie.v6i2.5279

The Effect of International Trade on Rule of Law

Directory of Open Access Journals (Sweden)

Junsok Yang

2013-03-01

Full Text Available In this paper, we look at the relationship between international trade and the rule of law, using the World Justice Project Rule of Law Index, which include index figures on human rights, limits on government powers, transparency and regulatory efficiency. Based on regression analyses using the rule of law index figures and international trade figures (merchandise trade, service trade, exports and importsIn this paper, we look at the relationship between international trade and the rule of law, using the World Justice Project Rule of Law Index, which include index figures on human rights, limits on government powers, transparency and regulatory efficiency. Based on regression analyses using the rule of law index figures and international trade figures (merchandise trade, service trade, exports and imports as percentage of GDP, international trade and basic human rights seem to have little relationship; but trade has a close positive relationship with strong order and security. Somewhat surprisingly, regulatory transparency and effective implementation seems to have little or no effect on international trade and vice versa. International trade shows a clear positive relationship with the country’s criminal justice system, but the relationship with the civil justice system is not as clear as such. For regulatory implementation and civil justice, services trade positively affect these institutions, but these institutions in turn affect exports more strongly than services trade. Finally, the effect of trade on rule of law is stronger on a medium to long term (10-20 year time horizon.

Gravity models of forest products trade: applications to forecasting and policy analysis

Science.gov (United States)

Joseph Buongiorno

2016-01-01

To predict the value of trade between countries, a differential gravity model of bilateral trade flowswas formulated and estimated with panel data from 2005 to 2014 for each of the commodity groups HS44 (wood and articles of wood), HS47 (pulp of wood, fibrous cellulosic material) and HS48 (paper and paperboard). The parameters were estimated with a large database by...

Trading strategies modeling in Colombian power market using artificial intelligence techniques

International Nuclear Information System (INIS)

Moreno, Julian

2009-01-01

The aim of this paper is to present a model based on fuzzy logic and machine learning in order to maximize the profits of Colombian energy trade agents according to their risk profile. The model has two parts, the first one is a fuzzy expert system that gives a recommendation about the trade strategy these agents should follow, and whose definition depends mainly on market conditions. The second one is a reinforced learning mechanism with which the agents 'learn' when they perceive the consequences of their actions, so they modify such actions looking for a reward not just in short but also in long-term. The whole model is validated using actual data as well as a simulation approach using synthetic time series for some relevant variables as hydraulic availability, energy pool price and bilateral contracts price. (author)

Trading strategies modeling in Colombian power market using artificial intelligence techniques

Energy Technology Data Exchange (ETDEWEB)

Moreno, Julian [Escuela de Sistemas, Universidad Nacional de Colombia, Carrera 80 No. 65-223 Bloque M8A Medellin (Colombia)

2009-03-15

The aim of this paper is to present a model based on fuzzy logic and machine learning in order to maximize the profits of Colombian energy trade agents according to their risk profile. The model has two parts, the first one is a fuzzy expert system that gives a recommendation about the trade strategy these agents should follow, and whose definition depends mainly on market conditions. The second one is a reinforced learning mechanism with which the agents 'learn' when they perceive the consequences of their actions, so they modify such actions looking for a reward not just in short but also in long-term. The whole model is validated using actual data as well as a simulation approach using synthetic time series for some relevant variables as hydraulic availability, energy pool price and bilateral contracts price. (author)

An internet graph model based on trade-off optimization

Science.gov (United States)

Alvarez-Hamelin, J. I.; Schabanel, N.

2004-03-01

This paper presents a new model for the Internet graph (AS graph) based on the concept of heuristic trade-off optimization, introduced by Fabrikant, Koutsoupias and Papadimitriou in[CITE] to grow a random tree with a heavily tailed degree distribution. We propose here a generalization of this approach to generate a general graph, as a candidate for modeling the Internet. We present the results of our simulations and an analysis of the standard parameters measured in our model, compared with measurements from the physical Internet graph.

A Ricardian model of new trade and location theory

OpenAIRE

Ricci, Luca Antonio

1996-01-01

This paper provides a new model of firm's location choices. It integrates a Ricardian model of comparative advantage with the location effects deriving from trade costs, increasing returns to scale, product differentiation, and monopolistic competition. In a two-region, two-differentiated-good, one-factor framework, the regional degree of specialization depends positively on the extent of the comparative advantage in productivity and on the degree of returns to scale; it depends negatively on...

A Cross-Cultural Multi-agent Model of Opportunism in Trade

Science.gov (United States)

Hofstede, Gert Jan; Jonker, Catholijn M.; Verwaart, Tim

According to transaction cost economics, contracts are always incomplete and offer opportunities to defect. Some level of trust is a sine qua non for trade. If the seller is better informed about product quality than the buyer, the buyer has to rely on information the seller provides or has to check the information by testing the product or tracing the supply chain processes, thus incurring extra transaction cost. An opportunistic seller who assumes the buyer to trust, may deliver a lower quality product than agreed upon. In human decisions to deceive and to show trust or distrust, issues like mutual expectations, shame, self-esteem, personality, and reputation are involved. These factors depend in part on traders' cultural background. This paper proposes an agent model of deceit and trust and describes a multi-agent simulation where trading agents are differentiated according to Hofstede's dimensions of national culture. Simulations of USA and Dutch trading situations are compared.

Market analysis and risk management of EU emissions trading

International Nuclear Information System (INIS)

Ollikainen, M.; Ollikka, K.; Aatola, P.; Ahonen, H.M.; Pohjola, T.; Kumpulainen, A.; Lappalainen, E.

2006-01-01

The first EU emissions trading period commenced on 1 January 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage risks and profitability companies need to be able to estimate future price developments of emission allowances. University of Helsinki is conducting a research project in cooperation with Helsinki University of Technology that will provide necessary information for analyzing emission allowance markets and create risk management competence. The objectives of the research project are 1) to develop a price estimation model for EU emission allowances and 2) to develop risk management competence related to EU emission allowances. With the price estimation model the short-term price developments of EU emission allowances can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project will also deliver a general risk management model for emission allowances that aims at improving competitiveness of companies. (orig.)

Agent-based model with asymmetric trading and herding for complex financial systems.

Directory of Open Access Journals (Sweden)

Jun-Jie Chen

Full Text Available BACKGROUND: For complex financial systems, the negative and positive return-volatility correlations, i.e., the so-called leverage and anti-leverage effects, are particularly important for the understanding of the price dynamics. However, the microscopic origination of the leverage and anti-leverage effects is still not understood, and how to produce these effects in agent-based modeling remains open. On the other hand, in constructing microscopic models, it is a promising conception to determine model parameters from empirical data rather than from statistical fitting of the results. METHODS: To study the microscopic origination of the return-volatility correlation in financial systems, we take into account the individual and collective behaviors of investors in real markets, and construct an agent-based model. The agents are linked with each other and trade in groups, and particularly, two novel microscopic mechanisms, i.e., investors' asymmetric trading and herding in bull and bear markets, are introduced. Further, we propose effective methods to determine the key parameters in our model from historical market data. RESULTS: With the model parameters determined for six representative stock-market indices in the world, respectively, we obtain the corresponding leverage or anti-leverage effect from the simulation, and the effect is in agreement with the empirical one on amplitude and duration. At the same time, our model produces other features of the real markets, such as the fat-tail distribution of returns and the long-term correlation of volatilities. CONCLUSIONS: We reveal that for the leverage and anti-leverage effects, both the investors' asymmetric trading and herding are essential generation mechanisms. Among the six markets, however, the investors' trading is approximately symmetric for the five markets which exhibit the leverage effect, thus contributing very little. These two microscopic mechanisms and the methods for the

Melting ice, growing trade?

Directory of Open Access Journals (Sweden)

Sami Bensassi

2016-05-01

Full Text Available Abstract Large reductions in Arctic sea ice, most notably in summer, coupled with growing interest in Arctic shipping and resource exploitation have renewed interest in the economic potential of the Northern Sea Route (NSR. Two key constraints on the future viability of the NSR pertain to bathymetry and the future evolution of the sea ice cover. Climate model projections of future sea ice conditions throughout the rest of the century suggest that even under the most “aggressive” emission scenario, increases in international trade between Europe and Asia will be very low. The large inter-annual variability of weather and sea ice conditions in the route, the Russian toll imposed for transiting the NSR, together with high insurance costs and scarce loading/unloading opportunities, limit the use of the NSR. We show that even if these obstacles are removed, the duration of the opening of the NSR over the course of the century is not long enough to offer a consequent boost to international trade at the macroeconomic level.

Slow Steaming in Maritime Transportation: Fundamentals, Trade-offs, and Decision Models

DEFF Research Database (Denmark)

Psaraftis, Harilaos N.; Kontovas, Christos A.

2015-01-01

burned. The purpose of this chapter is to examine the practice of slow steaming from various angles. In that context, a taxonomy of models is presented, some fundamentals are outlined, the main trade-offs are analysed, and some decision models are presented. Some examples are finally presented so...

Are Preferential Trade Agreements with Non-trade Objectives a Stumbling Block for Multilateral Liberalization?

OpenAIRE

Nuno Limão

2007-01-01

In many preferential trade agreements (PTAs), countries exchange not only reductions in trade barriers but also cooperation in non-trade issues such as labour and environmental standards, intellectual property, etc. We provide a model of PTAs motivated by cooperation in non-trade issues and analyse its implications for global free trade and welfare. We find that such PTAs increase the cost of multilateral tariff reductions and thus cause a stumbling block to global free trade. This occurs bec...

THE IMPACT OF COMPETITIVENESS ON TRADE EFFICIENCY: THE ASIAN EXPERIENCE BY USING THE STOCHASTIC FRONTIER GRAVITY MODEL

Directory of Open Access Journals (Sweden)

Memduh Alper Demir

2017-12-01

Full Text Available The purpose of this study is to examine the bilateral machinery and transport equipment trade efficiency of selected fourteen Asian countries by applying stochastic frontier gravity model. These selected countries have the top machinery and transport equipment trade (both export and import volumes in Asia. The model we use includes variables such as income, market size of trading partners, distance, common culture, common border, common language and global economic crisis similar to earlier studies using the stochastic frontier gravity models. Our work, however, includes an extra variable called normalized revealed comparative advantage (NRCA index additionally. The NRCA index is comparable across commodity, country and time. Thus, the NRCA index is calculated and then included in our stochastic frontier gravity model to see the impact of competitiveness (here measured by the NRCA index on the efficiency of trade.

Forecast Model of Russia’s Gross Domestic Product Depending on Financial Instruments of Trade in Energy and Commodities

Directory of Open Access Journals (Sweden)

Samkov T.L.

2018-04-01

Full Text Available Methodology of forecasting the gross domestic product (GDP growth for complex socio-economic systems is projected on economic conditions of the Russian Federation. The most important factors affecting GDP change, development of a GDP forecast econometric model for the Russian economy and the methodology of the model use are identified. The model is used as a source of information necessary for the analysis of territorial multi-sectoral objects (ATMO model which we developed. ATMO model is the model of planning regional sectoral production systems of independent corporate participants and can predict their behavior utilizing game approach. Non-systemic "signal" information (GDP growth rate is necessary to change the strategies. The factors for predicting are the primary and secondary financial instruments of trade in energy and raw commodities. The principle of behavioral imitation is introduced for the first time in relation to a class of such tasks. Technology of decisions making corresponds to the knowledge of managers and officials rather than to that of analysts. The forecast model reflects the "ordinary" view of mentioned decision makers on the nature of GDP dependence on trade in specific goods (oil, gas, grain, gold, silver, copper, etc.. Almost any company leader will be able to use this set to forecast GDP as guidelines for further development of the enterprise. The ATMO model makes it possible to influence the economy to achieve macroeconomic goals and gives the opportunity to increase the available volumes of energy resources for export, e.g., for functioning of the emerging gas hub in EU.

Trading Fees and Slow-Moving Capital

OpenAIRE

Buss, Adrian; Dumas, Bernard J

2015-01-01

In some situations, investment capital seems to move slowly towards profitable trades. We develop a model of a financial market in which capital moves slowly simply because there is a proportional cost to moving capital. We incorporate trading fees in an infinite-horizon dynamic general-equilibrium model in which investors optimally and endogenously decide when and how much to trade. We determine the steady-state equilibrium no-trade zone, study the dynamics of equilibrium trades and prices a...

BENEFITS AND DRAWBACKS OF ONLINE TRADING VERSUS TRADITIONAL TRADING. EDUCATIONAL FACTORS IN ONLINE TRADING

Directory of Open Access Journals (Sweden)

Petric (Iancu Ioana Ancuta

2015-07-01

Full Text Available In terms of marketing, online trading is a new distribution channel and trading platforms are products of Investment and Financial Services Companies. Internet shortens the connection between the investor and the products they wish to purchase (shares, futures, CFDs, government securities, bonds, etc., and in some cases it no longer needs a security broker. Increasing use of the Internet and increasing competitiveness between Investment and Financial Services Companies do the latter, to seek new distribution channels to specific products. The purpose of this paper is to examine to what extent the investor education level affects the decision to move from traditional trading to online trading and the benefits and disadvantages of these types of transactions. To whom should the Investment and Financial Services Companies guide their marketing campaign to attract more investors for online platforms? The work presented is part of a larger project that will be part of author thesis, studying other factors that influence the decision to move from traditional to online trading: cost factor, time factor, psychological and social attributes of investors, yield portfolios and technological capacities of Investment and Financial Services Companies. Starting from the idea that with the increase of experience in stock investments the investors will want to make their own decisions, Investment and Financial Services Companies should provide new products. Compared to competitors, an Investment and Financial Services Company must innovate, and information technology currently offers the tools for innovation facilities. At the same time, the existence and development of the Internet has made the transaction without assistance or with minimal human intervention possible (Voss, 2000. The difference is in the knowledge about stock market, the speed the transaction orders arrive in the stock market, direct access to multiple markets, transaction costs and the level

Cap-and-Trade Modeling and Analysis: Congested Electricity Market Equilibrium

Science.gov (United States)

Limpaitoon, Tanachai

This dissertation presents an equilibrium framework for analyzing the impact of cap-and-trade regulation on transmission-constrained electricity market. The cap-and-trade regulation of greenhouse gas emissions has gained momentum in the past decade. The impact of the regulation and its efficacy in the electric power industry depend on interactions of demand elasticity, transmission network, market structure, and strategic behavior of firms. I develop an equilibrium model of an oligopoly electricity market in conjunction with a market for tradable emissions permits to study the implications of such interactions. My goal is to identify inefficiencies that may arise from policy design elements and to avoid any unintended adverse consequences on the electric power sector. I demonstrate this modeling framework with three case studies examining the impact of carbon cap-and-trade regulation. In the first case study, I study equilibrium results under various scenarios of resource ownership and emission targets using a 24-bus IEEE electric transmission system. The second and third case studies apply the equilibrium model to a realistic electricity market, Western Electricity Coordinating Council (WECC) 225-bus system with a detailed representation of the California market. In the first and second case studies, I examine oligopoly in electricity with perfect competition in the permit market. I find that under a stringent emission cap and a high degree of concentration of non-polluting firms, the electricity market is subject to potential abuses of market power. Also, market power can occur in the procurement of non-polluting energy through the permit market when non-polluting resources are geographically concentrated in a transmission-constrained market. In the third case study, I relax the competitive market structure assumption of the permit market by allowing oligopolistic competition in the market through a conjectural variation approach. A short-term equilibrium

Improving efficiency in bilateral emission trading

International Nuclear Information System (INIS)

Burtraw, D.; Harrison, K.W.; Turner, P.

1998-01-01

When environmental damages from emissions are spatially nonuniform, permit trading has been modeled most often as a 'pollution offset program' in which emission permits are traded between agents, subject to constraints on ambient air quality. To date the institution envisioned to implement such a program involves trading on a bilateral and sequential basis. However, simulation studies indicate that the sequence of trades may alter the outcome and undermine the cost savings from a pollution offset program. This paper identifies a design for the trading institution that tends to overcome this phenomenon and improve the efficiency of equilibria obtained in a simulation model. We model a bilateral trading process for the reduction of sulfur dioxide emissions with a stochastic description of the sequence of trades within groups of nations in Europe. When trading takes place between disaggregated, stylistic representations of economic enterprises, rather than between national governments, a significantly greater portion of potential savings is achieved. In fact, under most sets of assumptions, approximate first order stochastic dominance is achieved wherein the more decentralized the trading agents, the greater the expected savings from a trading program. 4 figs., 2 tabs., 31 refs

Have Sanctions Modified Iran’s Trade Policy? An Evidence of Asianization and De-Europeanization through the Gravity Model

Directory of Open Access Journals (Sweden)

Liudmila Popova

2016-10-01

Full Text Available This study is an empirical attempt to find out whether under sanctions Iran’s trade direction has shifted away from Europe (trade policy of de-Europeanization towards Asia (trade policy of Asianization. The analysis is conducted using a panel-gravity trade model to analyze bilateral trade pattern between Iran and 50 countries from the EU and Asia during the period 2006–2013. To this end, the authors use an extended gravity model by adding new variables, including the index of Chinn–Ito (KAOPEN as an indicator of financial openness, and the composite trade intensity (CTI as an indicator of trade openness. Our findings reveal that the gravity equation fits the data reasonably well. The empirical evidence indicates a significant negative effect of sanctions on Iran–EU bilateral trade (by an average of 46.9%, while it has a positive impact on trade between Iran and the Asian countries (by an average of 85.2%. Overall, these findings confirm that the imposition of various sanctions related to Iran’s nuclear program has pushed the country’s foreign trade to reorient away from Europe towards Asia.

Trade Performance and Potential of the Philippines: An Application of Stochastic Frontier Gravity Model

OpenAIRE

Deluna, Roperto Jr

2013-01-01

This study was conducted to investigate the issue of what Philippine merchandise trade flows would be if countries operated at the frontier of the gravity model. The study sought to estimate the coefficients of the gravity model. The estimated coefficients were used to estimate merchandise export potentials and technical efficiency of each country in the sample and these were also aggregated to measure impact of country groups, RTAs and inter-regional trading agreements. Result of the ...

The Carbon Trading Price and Trading Volume Forecast in Shanghai City by BP Neural Network

OpenAIRE

Liu Zhiyuan; Sun Zongdi

2017-01-01

In this paper, the BP neural network model is established to predict the carbon trading price and carbon trading volume in Shanghai City. First of all, we find the data of carbon trading price and carbon trading volume in Shanghai City from September 30, 2015 to December 23, 2016. The carbon trading price and trading volume data were processed to get the average value of each 5, 10, 20, 30, and 60 carbon trading price and trading volume. Then, these data are used as input of BP neural network...

Affective Policy Performance Evaluation Model: A Case of an International Trade Policy Implementation

Directory of Open Access Journals (Sweden)

Inwon Kang

2018-01-01

Full Text Available Firms often superficially adopt policies because of governmental rules and regulations, so as to avoid penalties or to gain benefits. However, the evaluation and characterization of those kinds of adoptions as policy performance distorts the true level of policy performance: social sustainability. This study proposes an affective policy performance evaluation model. The attitudes of employees toward adopting a policy are characterized into genuine and superficial compliance. Their behaviors are explained through voluntary and opportunistic adoptions. In order to validate the proposed model, a survey was conducted on an international trade policy target group (n = 216 for the Strategic Trade Control System (STCS, in order to understand their attitudes toward adopting the policy. The survey data was analyzed by a structural equation modeling method. The measures of the factors in the proposed model are adopted and modified from existing studies. The most effective resources of policy implementation on the firms’ genuine and superficial compliance and ultimately on the firms’ voluntary policy adoption are revealed through the analysis. Based on the results, this study presents a strategy for allocating and managing policy implementation resources to exclusively encourage firms’ trade policy adoptions.

Revenue, welfare and trade effects of European Union Free Trade Agreement on South Africa

Directory of Open Access Journals (Sweden)

Kore M.A. Guei

2017-10-01

Full Text Available Background: Using the partial equilibrium WITS-SMART Simulation model to assess the impact of liberalisation under the Trade Development and Cooperation Agreement (TDCA of a free trade area between the European Union and South Africa. The identification of the impact of such agreement allows for trade policy negotiation adjustment that can be beneficial for South Africa. Aim: The aim of the study is to estimate and discuss the impact of a Free Trade Agreement (FTA with the European Union and South Africa. More specifically, the study intends to estimate the impact of revenue, welfare, imports, exports, trade creation and to come up with policies options for South Africa that can be used in negotiations and policy formulations. Setting: The study used international trade data (2012 available in the WITS-SMART model to assess bilateral trade agreement between the European Union and South Africa. Methods: To identify the impact on revenue, welfare, imports, exports and trade creation, the study simulated an FTA (0% tariff rate for all goods exchanged between the European Union and South Africa. Also, the elasticity of substitution used for the simulation model was 99%. Results: The findings of the study reveal that total trade effects in South Africa are likely to surge by US$ 1.036 billion with a total welfare valued at US$ 134 million. Dismantling tariffs on all European Union (EU goods would be beneficial to consumers through net trade creation. Total trade creation would be US$ 782 million. However, South African producers are likely to contribute a trade diversion of US$ 254 million which has a negative impact on consumer welfare. The country might also experience a revenue loss amounting to US$ 562 million because of the removal of tariffs. In trade, the country’s exports and imports to the EU are expected to increase by US$ 12.419 million and US$ 1.266 million, respectively. Conclusion: The European Union–South Africa FTA would

The Methodical Instrumentarium for Assessing the Competitiveness of Business Model of Trade Enterprise

Directory of Open Access Journals (Sweden)

Grosul Victoria A.

2017-10-01

Full Text Available The article substantiates the need to assess the competitiveness of business model of enterprise. By analyzing, systematizing and generalizing the scientific work of foreign and domestic scientists, the basic methods of assessment were allocated and the feasibility of an integrated approach to assessing the competitiveness of business model of enterprise was argued. A scorecard system for evaluating the competitiveness of business model of trade enterprise has been developed and a structural and logical framework for the integrated assessment of the competitiveness of the indicated business model has been substantiated. Based on the Ishikawa diagram, potential competitive advantages have been defined and the «problem areas» have been identified that impact the competitiveness of business model of enterprise. The authors provide recommendations for transforming the business model of trade enterprise in the context of the enterprise’s orientation towards development.

The hidden hyperbolic geometry of international trade: World Trade Atlas 1870-2013.

Science.gov (United States)

García-Pérez, Guillermo; Boguñá, Marián; Allard, Antoine; Serrano, M Ángeles

2016-09-16

Here, we present the World Trade Atlas 1870-2013, a collection of annual world trade maps in which distance combines economic size and the different dimensions that affect international trade beyond mere geography. Trade distances, based on a gravity model predicting the existence of significant trade channels, are such that the closer countries are in trade space, the greater their chance of becoming connected. The atlas provides us with information regarding the long-term evolution of the international trade system and demonstrates that, in terms of trade, the world is not flat but hyperbolic, as a reflection of its complex architecture. The departure from flatness has been increasing since World War I, meaning that differences in trade distances are growing and trade networks are becoming more hierarchical. Smaller-scale economies are moving away from other countries except for the largest economies; meanwhile those large economies are increasing their chances of becoming connected worldwide. At the same time, Preferential Trade Agreements do not fit in perfectly with natural communities within the trade space and have not necessarily reduced internal trade barriers. We discuss an interpretation in terms of globalization, hierarchization, and localization; three simultaneous forces that shape the international trade system.

Projecting biodiversity and wood production in future forest landscapes: 15 key modeling considerations.

Science.gov (United States)

Felton, Adam; Ranius, Thomas; Roberge, Jean-Michel; Öhman, Karin; Lämås, Tomas; Hynynen, Jari; Juutinen, Artti; Mönkkönen, Mikko; Nilsson, Urban; Lundmark, Tomas; Nordin, Annika

2017-07-15

A variety of modeling approaches can be used to project the future development of forest systems, and help to assess the implications of different management alternatives for biodiversity and ecosystem services. This diversity of approaches does however present both an opportunity and an obstacle for those trying to decide which modeling technique to apply, and interpreting the management implications of model output. Furthermore, the breadth of issues relevant to addressing key questions related to forest ecology, conservation biology, silviculture, economics, requires insights stemming from a number of distinct scientific disciplines. As forest planners, conservation ecologists, ecological economists and silviculturalists, experienced with modeling trade-offs and synergies between biodiversity and wood biomass production, we identified fifteen key considerations relevant to assessing the pros and cons of alternative modeling approaches. Specifically we identified key considerations linked to study question formulation, modeling forest dynamics, forest processes, study landscapes, spatial and temporal aspects, and the key response metrics - biodiversity and wood biomass production, as well as dealing with trade-offs and uncertainties. We also provide illustrative examples from the modeling literature stemming from the key considerations assessed. We use our findings to reiterate the need for explicitly addressing and conveying the limitations and uncertainties of any modeling approach taken, and the need for interdisciplinary research efforts when addressing the conservation of biodiversity and sustainable use of environmental resources. Copyright © 2017 Elsevier Ltd. All rights reserved.

A Reference-Dependent Regret Model for Deterministic Trade-off Studies

Energy Technology Data Exchange (ETDEWEB)

Kujawski, Edouard

2005-02-25

Today's typical multi-criteria decision analysis is based on classical expected utility theory that assumes a mythical ''Rational Individual'' immune to psychological influences such as anticipated regret. It is therefore in conflict with rational individuals who trade-off some benefits and forgo the alternative with the highest total classical utility for a more balanced alternative in order to reduce their levels of anticipated regret. This paper focuses on decision making under certainty. It presents a reference-dependent regret model (RDRM) in which the level of regret that an individual experiences depends on the absolute values rather than the differences of the utilities of the chosen and forgone alternatives. The RDRM best choice may differ from the conventional linear additive utility model, the analytic hierarchy process, and the regret theory of Bell and Loomes and Sugden. Examples are presented that indicate that RDRM is the better predictive descriptor for decision making under certainty. RDRM satisfies transitivity of the alternatives under pairwise comparisons and models rank reversal consistent with observed reasonable choices under dynamic or distinct situations. Like regret theory, the RDRM utilities of all the alternatives under consideration are interrelated. For complex trade-off studies regret is incorporated as an element of a cost-utility-regret analysis that characterizes each alternative in terms of its monetary cost, an aggregate performance utility, and a regret value. This provides decision makers adequate information to compare the alternatives and depending on their values they may trade-off some performance and/or cost to avoid high levels of regret. The result is a well-balanced alternative often preferred by reasonable decision makers to the optimal choice of classical multi-attribute utility analysis. The model can readily be extended to incorporate rejoicing to suit decision makers who seek it. The

The Trading Potential of Eastern Europe

OpenAIRE

Wang, Zhen Kun; Winters, L. Alan

1991-01-01

This paper fits a gravity model to the trade of 76 market economies. It then applies the model to data on East European economies to estimate what their trading potential might have been, had behaved like market economies in the mid-1980s. At existing levels of national income, the liberalization of Eastern Europe and the Soviet Union is unlikely to affect their mutual trade and trade with developing countries, but it will increase trade with industrial counties by factors of three to thirty....

THE TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP

Directory of Open Access Journals (Sweden)

MOT Anca

2014-06-01

Full Text Available The Transatlantic Trade and Investment Partnership is a project of exceptional importance which opens a new stage in the globalization process. Given its historical significance, this construction causes numerous debates and controversies. This article attempts to draft a few reflections regarding the main elements, dimensions, orientations, the basis values, objectives and the relevant actors (economic, political, formal and informal of this greatest bilateral trade agreement. We will attempt a decrypting, on the basis of press articles, of political discourse, and of different analyses and comments, what are the social and economic effects, what are the consequences on democracy of this market project.

EUBIONET II. Efficient trading of biomass fuels and analysis of fuel supply chains and business models for market actors by networking. Final result-oriented report

Energy Technology Data Exchange (ETDEWEB)

Alakangas, E.; Wiik, C.; Vesterinen, P. (and others)

2008-02-15

The project aimed to increase deployment of biomass fuels into European market and match technology uptake by means of market and policy analysis and other well-defined tasks to meet European policy targets in renewable energy sector. The project is to result as increased use of biomass fuels and market uptake of innovative bioenergy technologies. The objectives of the project were the following: 1) To give a clear outlook on current and future biomass fuel market trends. 2) To give feedback on the suitability of CEN 335 biofuel standard for trading of solid biofuels. 3) To provide well-analysed estimation on techno-economic potential of the biomass fuel volumes until 2010 based on the existing studies and experts opinions. Regarding the forest biomass sector, co-operation will be done with forest industry stakeholders to find proper balance between forest industry raw material and bioenergy usage. 4) To enhance biomass fuel trade and technology transfer by networking among different actors. 5) To analyse, select and describe the most suitable trading and business models for small- and largescale biofuel supply chains for heat and power production by taking into account the environmental aspects and sustainability. 6) To enhance biomass usage by the means of co-operation and information dissemination among different market actors in the fuel-utilisation chain. Target groups were biomass fuel traders and users, fuel producers and suppliers of different scales, policy makers in both current and new member states. Key associations, i.e. AEBIOM and CEPI, were participating in the project and disseminating information to various groups. The project has been structured in 5 workpackages. Project was carried out by 16 partners, which are the key national bioenergy organisations in the European countries and have a long co-operation relationship in previous bioenergy networks. The project has published summary reports and national report of each WP and this report is

Trade and Sectoral Productivity

OpenAIRE

Fadinger, Harald; Fleiss, Pablo

2008-01-01

Even though differences in sectoral total factor productivity are at the heart of Ricardian trade theory and many models of growth and development, very little is known about their size and their form. In this paper we try to fill this gap by using a Hybrid-Ricardo-Heckscher-Ohlin trade model and bilateral sectoral trade data to overcome the data problem that has limited previous studies, which have used input and output data to back out productivities, to a small number of OECD economies. We...

Trade credit: Elusive insurance of firm growth

NARCIS (Netherlands)

Bams, Dennis; Bos, Jaap; Pisa, Magdalena

2016-01-01

Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit

Prediction of Pig Trade Movements in Different European Production Systems Using Exponential Random Graph Models.

Science.gov (United States)

Relun, Anne; Grosbois, Vladimir; Alexandrov, Tsviatko; Sánchez-Vizcaíno, Jose M; Waret-Szkuta, Agnes; Molia, Sophie; Etter, Eric Marcel Charles; Martínez-López, Beatriz

2017-01-01

In most European countries, data regarding movements of live animals are routinely collected and can greatly aid predictive epidemic modeling. However, the use of complete movements' dataset to conduct policy-relevant predictions has been so far limited by the massive amount of data that have to be processed (e.g., in intensive commercial systems) or the restricted availability of timely and updated records on animal movements (e.g., in areas where small-scale or extensive production is predominant). The aim of this study was to use exponential random graph models (ERGMs) to reproduce, understand, and predict pig trade networks in different European production systems. Three trade networks were built by aggregating movements of pig batches among premises (farms and trade operators) over 2011 in Bulgaria, Extremadura (Spain), and Côtes-d'Armor (France), where small-scale, extensive, and intensive pig production are predominant, respectively. Three ERGMs were fitted to each network with various demographic and geographic attributes of the nodes as well as six internal network configurations. Several statistical and graphical diagnostic methods were applied to assess the goodness of fit of the models. For all systems, both exogenous (attribute-based) and endogenous (network-based) processes appeared to govern the structure of pig trade network, and neither alone were capable of capturing all aspects of the network structure. Geographic mixing patterns strongly structured pig trade organization in the small-scale production system, whereas belonging to the same company or keeping pigs in the same housing system appeared to be key drivers of pig trade, in intensive and extensive production systems, respectively. Heterogeneous mixing between types of production also explained a part of network structure, whichever production system considered. Limited information is thus needed to capture most of the global structure of pig trade networks. Such findings will be useful

An examination of the International Natural Gas Trade

International Nuclear Information System (INIS)

Mazighi, A.

2003-01-01

Recent developments in the liquefied natural gas (LNG) industry, particularly the ongoing projects of liquefaction and regasification and the increasing number of LNG-carriers to be delivered in forthcoming years, have led some specialists to argue that LNG is today a crossroads between regionalisation and globalisation. Other specialists think that, by LNG's share of the total international trade of natural gas will be predominant, compared to that of pipelines. All these assumptions are based on an examination of the duration and ongoing international gas projects. The objective of our article is to examine the historical patterns of the international natural gas and discuss the conditions for the globalisation of LNG trade. Using some evidence on the international trade of natural gas from 1970 to 1997, we show the A strong correlation exists between the international trade of gas by pipeline and LNG becomes predominant, we need a delinking of these two means of trading gas. Globalisation of the LNG trade is not only linked to an increase in the relative share trade; it is also and primarily linked to an increase in the inter-area trade of LNG. There is a negligible change in the pattern of inter-area and intra-area trade of even during the late 1990s; this is due to the contracted nature of the LNG international that resulted in a stickiness of LNG routes. The emergence of a global LNG market requires the satisfaction of four conditions: economic, technical and institutional conditions - therefore, it will certainly take more years to make ING a global commodity. (author)

The effects of competing trade regimes on bilateral trade flows: case of Serbia

Directory of Open Access Journals (Sweden)

Predrag Bjelić

2012-12-01

Full Text Available The aim of this paper is to investigate the effects of competing trade regimes on Serbian trade with its most significant (traditional partners, like European Union and CEFTA 2006 signatories, and other untraditional trade partners with favourable trade regime, like the USA. To this end, gravity model with bilateral and time effects is estimated by Hausman-Taylor AR(1 instrumental variable estimator, using panel data on bilateral trade between Serbia and its main trade partners during the period 2001-2010. The results indicate that overall level of development and difference in factor endowments stimulate Serbia’s exports, which is in accordance with theoretical foundation that inter-industry trade is predominant in exports of less developed countries. Moreover, competing trade regimes appear as important determinant of Serbia’s trade relations, whereas additional liberalization of trade regime with the USA as untraditional trade partner, even asymmetrical to Serbia’s favour, cannot divert trade flows from traditional partners in the long-run. This could mean that distance plays more prominent role in bilateral trade than the degree of liberalization of trade regimes in case of Serbia. The result could be due to the contemporaneous effects of trade preferences granted to Serbia by the EU and other CEFTA 2006 signatories, main trading partners of Serbia.

Permit trading and credit trading

DEFF Research Database (Denmark)

Boom, Jan-Tjeerd; R. Dijstra, Bouwe

This paper compares emissions trading based on a cap on total emissions (permit trading) and on relative standards per unit of output (credit trading). Two types of market structure are considered: perfect competition and Cournot oligopoly. We find that output, abatement costs and the number...... of firms are higher under credit trading. Allowing trade between permit-trading and credit-trading sectors may increase in welfare. With perfect competition, permit trading always leads to higher welfare than credit trading. With imperfect competition, credit trading may outperform permit trading....... Environmental policy can lead to exit, but also to entry of firms. Entry and exit have a profound impact on the performance of the schemes, especially under imperfect competition. We find that it may be impossible to implement certain levels of total industry emissions. Under credit trading several levels...

The Doha Trade Round and Mozambique

OpenAIRE

Arndt, Channing

2005-01-01

This paper considers the potential implications of the Doha Development Agenda, as well as other trade liberalization scenarios, for Mozambique. An applied general equilibrium model, which accounts for high marketing margins and home consumption in the Mozambique economy, is linked to results from the GTAP model of global trade. In addition, a microsimulation module is used to consider the subsequent implications of trade liberalization for poverty. The implications of trade liberalization, p...

Cultural Effects of Trade Liberalization

OpenAIRE

Steven M. Suranovic; Robert Winthrop

2005-01-01

We incorporate culture into a standard trade model in two distinct ways. In the ¡°cultural affinity from work¡± model, workers receive a non- pecuniary cultural benefit from work in a particular industry. In the ¡°cultural externality¡± model, consumers of a product receive utility from other consumer¡¯s consumption of a domestic good. We show that resistance to change due to cultural concerns can reduce the national benefits from trade liberalization. Complete movements to free trade will ha...

Social networks and trade of services: modelling interregional flows with spatial and network autocorrelation effects

Science.gov (United States)

de la Mata, Tamara; Llano, Carlos

2013-07-01

Recent literature on border effect has fostered research on informal barriers to trade and the role played by network dependencies. In relation to social networks, it has been shown that intensity of trade in goods is positively correlated with migration flows between pairs of countries/regions. In this article, we investigate whether such a relation also holds for interregional trade of services. We also consider whether interregional trade flows in services linked with tourism exhibit spatial and/or social network dependence. Conventional empirical gravity models assume the magnitude of bilateral flows between regions is independent of flows to/from regions located nearby in space, or flows to/from regions related through social/cultural/ethic network connections. With this aim, we provide estimates from a set of gravity models showing evidence of statistically significant spatial and network (demographic) dependence in the bilateral flows of the trade of services considered. The analysis has been applied to the Spanish intra- and interregional monetary flows of services from the accommodation, restaurants and travel agencies for the period 2000-2009, using alternative datasets for the migration stocks and definitions of network effects.

Modeling Multi-commodity Trade Information Exchange Methods

CERN Document Server

Traczyk, Tomasz

2012-01-01

Market mechanisms are entering into new fields of economy, in which some constraints of physical world, e.g. Kirchoffs Law in power grid, must be taken into account during trading. On such markets, some of commodities, like telecommunication bandwidth or electrical energy, appear to be non-storable, and must be exchanged in real-time. On the other hand, the markets tend to react at shortest possible time, so an idea to delegate some competency to autonomous software agents is very attractive. Multi-commodity mechanism addresses the aforementioned requirements. Modeling the relationships between the commodities allows to formulate new, more sophisticated models and mechanisms, which reflect decision situations in a better manner. Application of multi-commodity approach requires solving several issues related to data modeling, communication, semantics aspects of communication, reliability, etc. This book answers some of the questions and points out promising paths for implementation and development. Presented s...

The DART general equilibrium model: A technical description

OpenAIRE

Springer, Katrin

1998-01-01

This paper provides a technical description of the Dynamic Applied Regional Trade (DART) General Equilibrium Model. The DART model is a recursive dynamic, multi-region, multi-sector computable general equilibrium model. All regions are fully specified and linked by bilateral trade flows. The DART model can be used to project economic activities, energy use and trade flows for each of the specified regions to simulate various trade policy as well as environmental policy scenarios, and to analy...

An inexact fuzzy two-stage stochastic model for quantifying the efficiency of nonpoint source effluent trading under uncertainty

International Nuclear Information System (INIS)

Luo, B.; Maqsood, I.; Huang, G.H.; Yin, Y.Y.; Han, D.J.

2005-01-01

Reduction of nonpoint source (NPS) pollution from agricultural lands is a major concern in most countries. One method to reduce NPS pollution is through land retirement programs. This method, however, may result in enormous economic costs especially when large sums of croplands need to be retired. To reduce the cost, effluent trading can be employed to couple with land retirement programs. However, the trading efforts can also become inefficient due to various uncertainties existing in stochastic, interval, and fuzzy formats in agricultural systems. Thus, it is desired to develop improved methods to effectively quantify the efficiency of potential trading efforts by considering those uncertainties. In this respect, this paper presents an inexact fuzzy two-stage stochastic programming model to tackle such problems. The proposed model can facilitate decision-making to implement trading efforts for agricultural NPS pollution reduction through land retirement programs. The applicability of the model is demonstrated through a hypothetical effluent trading program within a subcatchment of the Lake Tai Basin in China. The study results indicate that the efficiency of the trading program is significantly influenced by precipitation amount, agricultural activities, and level of discharge limits of pollutants. The results also show that the trading program will be more effective for low precipitation years and with stricter discharge limits

Suggestions for foreign trade enterprises to reduce cost after implementation of RMB cross-border trade settlement

Directory of Open Access Journals (Sweden)

Jie Min

2017-03-01

Full Text Available After RMB cross-border trade settlement was implemented, the ability of foreign trade enterprises to evade foreign exchange risk has enhanced to a great extent. In the meantime, with exchange rate fluctuations, foreign trade enterprises have become more sensitive with exchange rate variation. Based on predecessors’achievement, this thesis reasonably proposed a cost model applicable to foreign trade enterprises, in which the variables are all related to exchange rate. Therefore, by making exchange rate estimation, this thesis conducted data analysis and modeling, so as to find a way for foreign trade enterprises to predict exchange rate in a reasonable way. The thesis reached the conclusion that foreign trade enterprises can better control their cost based on RMB cross-border settlement.

Forest carbon trading : legal, policy, ecological and aboriginal issues

International Nuclear Information System (INIS)

Elgie, S.

2005-01-01

Canada's forest ecosystems store 88 billion tonnes of carbon, with trees alone storing 13 billion tonnes, twice the global annual carbon emissions. Carbon trading could affect forest management. Certain types of forest carbon project will offer cost-effective carbon sequestration options. This paper addresses current concerns about forest carbon trading such as phony carbon gains, biodiversity impact and increased fossil fuel emissions. Statistics were presented with information on global carbon stocks. The Kyoto Protocol requires that Canada must count all changes in forest carbon stocks resulting from afforestation, reforestation or deforestation, and that Canada has the option of counting carbon stock changes from forest management. The decision must be made by 2006, and considerations are whether to present projected net source or sink, or whether to count current commercially managed areas or all timber productive areas. An outline of federal constitutional authority power regarding Kyoto was presented, including limits and risks of trade and treaty powers. The economics of forest carbon were outlined with reference to increasing forest carbon storage. A two-pronged approach was advised, with avoided logging and plantation and intensive management securing carbon and timber benefits. Examples of pre-Kyoto pilots were presented, including the SaskPower project, the Little Red River Cree project and the Labrador Innu project. The disadvantages of offset trading were presented. It was concluded that forest carbon markets are part of a larger vision for sustainable development in Canada's north, especially for aboriginal peoples, and may indicate a growing market for ecological services. Constitutional limits to federal power to regulate carbon trading are not insurmountable, but require care. Ownerships of forest carbon rights raises important policy and legal issues, including aboriginal right, efficiency and equity. An estimated cost of forest carbon projects

47 CFR 2.924 - Marketing of electrically identical equipment having multiple trade names and models or type...

Science.gov (United States)

2010-10-01

... Authorizations § 2.924 Marketing of electrically identical equipment having multiple trade names and models or... 47 Telecommunication 1 2010-10-01 2010-10-01 false Marketing of electrically identical equipment having multiple trade names and models or type numbers under the same FCC Identifier. 2.924 Section 2.924...

Modelling the Volatility-Return Trade-off when Volatility may be Nonstationary

DEFF Research Database (Denmark)

Dahl, Christian Møller; Iglesias, Emma M.

In this paper a new GARCH-M type model, denoted the GARCH-AR, is proposed. In particular, it is shown that it is possible to generate a volatility-return trade-off in a regression model simply by introducing dynamics in the standardized disturbance process. Importantly, the volatility in the GARCH......, we provide an empirical illustration showing the empirical relevance of the GARCH-AR model based on modelling a wide range of leading US stock return series....

The hidden hyperbolic geometry of international trade: World Trade Atlas 1870–2013

Science.gov (United States)

García-Pérez, Guillermo; Boguñá, Marián; Allard, Antoine; Serrano, M. Ángeles

2016-01-01

Here, we present the World Trade Atlas 1870–2013, a collection of annual world trade maps in which distance combines economic size and the different dimensions that affect international trade beyond mere geography. Trade distances, based on a gravity model predicting the existence of significant trade channels, are such that the closer countries are in trade space, the greater their chance of becoming connected. The atlas provides us with information regarding the long-term evolution of the international trade system and demonstrates that, in terms of trade, the world is not flat but hyperbolic, as a reflection of its complex architecture. The departure from flatness has been increasing since World War I, meaning that differences in trade distances are growing and trade networks are becoming more hierarchical. Smaller-scale economies are moving away from other countries except for the largest economies; meanwhile those large economies are increasing their chances of becoming connected worldwide. At the same time, Preferential Trade Agreements do not fit in perfectly with natural communities within the trade space and have not necessarily reduced internal trade barriers. We discuss an interpretation in terms of globalization, hierarchization, and localization; three simultaneous forces that shape the international trade system. PMID:27633649

Spatial Welfare Economics versus Ecological Footprint: Modeling Agglomeration, Externalities and Trade

NARCIS (Netherlands)

Grazi, F.; van den Bergh, J.C.J.M.; Rietveld, P.

2007-01-01

A welfare framework for the analysis of the spatial dimensions of sustainability is developed. It covers agglomeration effects, interregional trade, negative environmental externalities, and various land use categories. The model is used to compare rankings of spatial configurations according to

EVALUATION OF THE TRADE RELATIONSHIP BETWEEN VIETNAM AND CHINA; VIETNAM AND UNITED STATES: A COMPARISON USING GRAVITY MODEL

Directory of Open Access Journals (Sweden)

Lien Thi Dinh

2017-06-01

Full Text Available This study aims to evaluate the determinants of trade relationship between two largest trading partners of Vietnam, United States and China. Using gravity model for time series data from 1986 to 2015, the study found that economic growth rate plays a crucial role in stimulating the trade flow. Both trade relationships fit with the practical approach of Heckscher-Ohlin theory, stating that trade flow increases between countries with different income levels. The most important finding of this study lines on the results regarding the impact of trade agreements. While United States-Vietnam bilateral agreement creates trade, the trade agreement between ASEAN and China produced trade diversion. As China expands its markets among ASEAN countries, Vietnam should diversify its export markets to improve its export flow.

Biological trade and markets.

Science.gov (United States)

Hammerstein, Peter; Noë, Ronald

2016-02-05

Cooperation between organisms can often be understood, like trade between merchants, as a mutually beneficial exchange of services, resources or other 'commodities'. Mutual benefits alone, however, are not sufficient to explain the evolution of trade-based cooperation. First, organisms may reject a particular trade if another partner offers a better deal. Second, while human trade often entails binding contracts, non-human trade requires unwritten 'terms of contract' that 'self-stabilize' trade and prevent cheating even if all traders strive to maximize fitness. Whenever trading partners can be chosen, market-like situations arise in nature that biologists studying cooperation need to account for. The mere possibility of exerting partner choice stabilizes many forms of otherwise cheatable trade, induces competition, facilitates the evolution of specialization and often leads to intricate forms of cooperation. We discuss selected examples to illustrate these general points and review basic conceptual approaches that are important in the theory of biological trade and markets. Comparing these approaches with theory in economics, it turns out that conventional models-often called 'Walrasian' markets-are of limited relevance to biology. In contrast, early approaches to trade and markets, as found in the works of Ricardo and Cournot, contain elements of thought that have inspired useful models in biology. For example, the concept of comparative advantage has biological applications in trade, signalling and ecological competition. We also see convergence between post-Walrasian economics and biological markets. For example, both economists and biologists are studying 'principal-agent' problems with principals offering jobs to agents without being sure that the agents will do a proper job. Finally, we show that mating markets have many peculiarities not shared with conventional economic markets. Ideas from economics are useful for biologists studying cooperation but need

Aspects related to 'emission trading'

International Nuclear Information System (INIS)

Tutuianu, Ovidiu

1999-01-01

The paper presents the aspects of international GHG (greenhouse gases) emission trading, such as: quality of GHG emission data, possible partners, monitoring activity, market mechanisms and difficulties. The following conclusions are drown: - debates on international trade with GHG emissions are currently in a very early stage; - actions are possible and feasible, particularly after Kyoto Conference, as versatile mechanism (besides the Joint Implementation Projects) which have in view the lowering of the global emission costs in different zones of the planet; - difficulties concerning monitoring, reporting and verification, practically preclude implementing a system of emission trading covering all the GHG, all the sources and reservoirs; - an international viable system of emission trading could initiate with a limited number of participants and consideration of only emission categories easy to be confined and surveyed; - existence of a national market and corresponding institutions for monitoring which could booster an international system development

Egalitarian despots: hierarchy steepness, reciprocity and the grooming-trade model in wild chimpanzees, Pan troglodytes.

Science.gov (United States)

Kaburu, Stefano S K; Newton-Fisher, Nicholas E

2015-01-01

Biological market theory models the action of natural selection as a marketplace in which animals are viewed as traders with commodities to offer and exchange. Studies of female Old World monkeys have suggested that grooming might be employed as a commodity to be reciprocated or traded for alternative services, yet previous tests of this grooming-trade model in wild adult male chimpanzees have yielded mixed results. Here we provide the strongest test of the model to date for male chimpanzees: we use data drawn from two social groups (communities) of chimpanzees from different populations and give explicit consideration to variation in dominance hierarchy steepness, as such variation results in differing conditions for biological markets. First, analysis of data from published accounts of other chimpanzee communities, together with our own data, showed that hierarchy steepness varied considerably within and across communities and that the number of adult males in a community aged 20-30 years predicted hierarchy steepness. The two communities in which we tested predictions of the grooming-trade model lay at opposite extremes of this distribution. Second, in accord with the grooming-trade model, we found evidence that male chimpanzees trade grooming for agonistic support where hierarchies are steep (despotic) and consequent effective support is a rank-related commodity, but not where hierarchies are shallow (egalitarian). However, we also found that grooming was reciprocated regardless of hierarchy steepness. Our findings also hint at the possibility of agonistic competition, or at least exclusion, in relation to grooming opportunities compromising the free market envisioned by biological market theory. Our results build on previous findings across chimpanzee communities to emphasize the importance of reciprocal grooming exchanges among adult male chimpanzees, which can be understood in a biological markets framework if grooming by or with particular individuals is a

Egalitarian despots: hierarchy steepness, reciprocity and the grooming-trade model in wild chimpanzees, Pan troglodytes

Science.gov (United States)

Kaburu, Stefano S. K.; Newton-Fisher, Nicholas E.

2014-01-01

Biological market theory models the action of natural selection as a marketplace in which animals are viewed as traders with commodities to offer and exchange. Studies of female Old World monkeys have suggested that grooming might be employed as a commodity to be reciprocated or traded for alternative services, yet previous tests of this grooming-trade model in wild adult male chimpanzees have yielded mixed results. Here we provide the strongest test of the model to date for male chimpanzees: we use data drawn from two social groups (communities) of chimpanzees from different populations and give explicit consideration to variation in dominance hierarchy steepness, as such variation results in differing conditions for biological markets. First, analysis of data from published accounts of other chimpanzee communities, together with our own data, showed that hierarchy steepness varied considerably within and across communities and that the number of adult males in a community aged 20–30 years predicted hierarchy steepness. The two communities in which we tested predictions of the grooming-trade model lay at opposite extremes of this distribution. Second, in accord with the grooming-trade model, we found evidence that male chimpanzees trade grooming for agonistic support where hierarchies are steep (despotic) and consequent effective support is a rank-related commodity, but not where hierarchies are shallow (egalitarian). However, we also found that grooming was reciprocated regardless of hierarchy steepness. Our findings also hint at the possibility of agonistic competition, or at least exclusion, in relation to grooming opportunities compromising the free market envisioned by biological market theory. Our results build on previous findings across chimpanzee communities to emphasize the importance of reciprocal grooming exchanges among adult male chimpanzees, which can be understood in a biological markets framework if grooming by or with particular individuals is

Chartist Trading in Exchange Rate Theory

OpenAIRE

Selander, Carina

2006-01-01

This thesis consists of four papers, of which paper 1 and 4 are co-written with Mikael Bask. Paper [1] implements chartists trading in a sticky-price monetary model for determining the exchange rate. It is demonstrated that chartists cause the exchange rate to "overshoot the overshooting equilibrium" of a sticky-price monetary model. Chartists base their trading on a short-long moving average. The importance of technical trading depends inversely on the time horizon in currency trade. The exc...

Uncertainty analysis for effluent trading planning using a Bayesian estimation-based simulation-optimization modeling approach.

Science.gov (United States)

Zhang, J L; Li, Y P; Huang, G H; Baetz, B W; Liu, J

2017-06-01

In this study, a Bayesian estimation-based simulation-optimization modeling approach (BESMA) is developed for identifying effluent trading strategies. BESMA incorporates nutrient fate modeling with soil and water assessment tool (SWAT), Bayesian estimation, and probabilistic-possibilistic interval programming with fuzzy random coefficients (PPI-FRC) within a general framework. Based on the water quality protocols provided by SWAT, posterior distributions of parameters can be analyzed through Bayesian estimation; stochastic characteristic of nutrient loading can be investigated which provides the inputs for the decision making. PPI-FRC can address multiple uncertainties in the form of intervals with fuzzy random boundaries and the associated system risk through incorporating the concept of possibility and necessity measures. The possibility and necessity measures are suitable for optimistic and pessimistic decision making, respectively. BESMA is applied to a real case of effluent trading planning in the Xiangxihe watershed, China. A number of decision alternatives can be obtained under different trading ratios and treatment rates. The results can not only facilitate identification of optimal effluent-trading schemes, but also gain insight into the effects of trading ratio and treatment rate on decision making. The results also reveal that decision maker's preference towards risk would affect decision alternatives on trading scheme as well as system benefit. Compared with the conventional optimization methods, it is proved that BESMA is advantageous in (i) dealing with multiple uncertainties associated with randomness and fuzziness in effluent-trading planning within a multi-source, multi-reach and multi-period context; (ii) reflecting uncertainties existing in nutrient transport behaviors to improve the accuracy in water quality prediction; and (iii) supporting pessimistic and optimistic decision making for effluent trading as well as promoting diversity of decision

A stochastic conflict resolution model for trading pollutant discharge permits in river systems.

Science.gov (United States)

Niksokhan, Mohammad Hossein; Kerachian, Reza; Amin, Pedram

2009-07-01

This paper presents an efficient methodology for developing pollutant discharge permit trading in river systems considering the conflict of interests of involving decision-makers and the stakeholders. In this methodology, a trade-off curve between objectives is developed using a powerful and recently developed multi-objective genetic algorithm technique known as the Nondominated Sorting Genetic Algorithm-II (NSGA-II). The best non-dominated solution on the trade-off curve is defined using the Young conflict resolution theory, which considers the utility functions of decision makers and stakeholders of the system. These utility functions are related to the total treatment cost and a fuzzy risk of violating the water quality standards. The fuzzy risk is evaluated using the Monte Carlo analysis. Finally, an optimization model provides the trading discharge permit policies. The practical utility of the proposed methodology in decision-making is illustrated through a realistic example of the Zarjub River in the northern part of Iran.

A Spatial-Filtering Zero-Inflated Approach to the Estimation of the Gravity Model of Trade

Directory of Open Access Journals (Sweden)

Rodolfo Metulini

2018-02-01

Full Text Available Nonlinear estimation of the gravity model with Poisson-type regression methods has become popular for modelling international trade flows, because it permits a better accounting for zero flows and extreme values in the distribution tail. Nevertheless, as trade flows are not independent from each other due to spatial and network autocorrelation, these methods may lead to biased parameter estimates. To overcome this problem, eigenvector spatial filtering (ESF variants of the Poisson/negative binomial specifications have been proposed in the literature on gravity modelling of trade. However, no specific treatment has been developed for cases in which many zero flows are present. This paper contributes to the literature in two ways. First, by employing a stepwise selection criterion for spatial filters that is based on robust (sandwich p-values and does not require likelihood-based indicators. In this respect, we develop an ad hoc backward stepwise function in R. Second, using this function, we select a reduced set of spatial filters that properly accounts for importer-side and exporter-side specific spatial effects, as well as network effects, both at the count and the logit processes of zero-inflated methods. Applying this estimation strategy to a cross-section of bilateral trade flows between a set of 64 countries for the year 2000, we find that our specification outperforms the benchmark models in terms of model fitting, both considering the AIC and in predicting zero (and small flows.

Modeling the future evolution of the virtual water trade network: A combination of network and gravity models

Science.gov (United States)

Sartori, Martina; Schiavo, Stefano; Fracasso, Andrea; Riccaboni, Massimo

2017-12-01

The paper investigates how the topological features of the virtual water (VW) network and the size of the associated VW flows are likely to change over time, under different socio-economic and climate scenarios. We combine two alternative models of network formation -a stochastic and a fitness model, used to describe the structure of VW flows- with a gravity model of trade to predict the intensity of each bilateral flow. This combined approach is superior to existing methodologies in its ability to replicate the observed features of VW trade. The insights from the models are used to forecast future VW flows in 2020 and 2050, under different climatic scenarios, and compare them with future water availability. Results suggest that the current trend of VW exports is not sustainable for all countries. Moreover, our approach highlights that some VW importers might be exposed to "imported water stress" as they rely heavily on imports from countries whose water use is unsustainable.

A Unified Trading Model Based on Robust Optimization for Day-Ahead and Real-Time Markets with Wind Power Integration

DEFF Research Database (Denmark)

Jiang, Yuewen; Chen, Meisen; You, Shi

2017-01-01

In a conventional electricity market, trading is conducted based on power forecasts in the day-ahead market, while the power imbalance is regulated in the real-time market, which is a separate trading scheme. With large-scale wind power connected into the power grid, power forecast errors increase...... in the day-ahead market which lowers the economic efficiency of the separate trading scheme. This paper proposes a robust unified trading model that includes the forecasts of real-time prices and imbalance power into the day-ahead trading scheme. The model is developed based on robust optimization in view...... of the undefined probability distribution of clearing prices of the real-time market. For the model to be used efficiently, an improved quantum-behaved particle swarm algorithm (IQPSO) is presented in the paper based on an in-depth analysis of the limitations of the static character of quantum-behaved particle...

 Trade reform and gender in Mozambique

DEFF Research Database (Denmark)

Arndt, Channing; Robinson, Sherman; Tarp, Finn

2006-01-01

treatment of production technology and import protection, and is linked to a top-down microsimulation model of households. We find that trade policy has only a modest effect on gender wage differentials, and conclude that policy concerns with gender imbalances should focus on skill upgrading and sectoral......This paper uses an economywide model to study the impact of trade policy reform on male and female labor in Mozambique. The model disaggregates factor markets by skill and gender, and incorporates links between trade reform, product prices and wages by gender. The model also includes a detailed...... mobility rather than on trade policy...

International nuclear trade and nonproliferation

International Nuclear Information System (INIS)

Potter, W.C.

1990-01-01

The purpose of this book, the culmination of one phase of an ongoing international research project on nuclear suppliers and nonproliferation, is to explore the international political and economic dimensions of nuclear trade, especially as they pertain to the behavior of eleven emerging nuclear-supplier states. More specifically, the book sets forth a conceptual framework for analyzing international nuclear trade; details the domestic and external factors that shape the nuclear export policies of Argentina, Brazil, India, Israel, Japan, Pakistan, the People's Republic of China, South Korea, South Africa, Spain and Taiwan; and identifies and assesses alternative strategies for containing the new proliferation risks posed by these emerging suppliers. The book also describes an innovative effort to utilize a computer-based system for tracking international nuclear trade

Electric power trading. The first study on stakes and consequences of power trading

International Nuclear Information System (INIS)

2000-06-01

Power trading (purchase/sale of electricity on a stock exchange) is an emerging activity in continental Europe while it already came to maturity in the US, in the UK and in Scandinavia. Several stock exchanges have opened since 1988, in particular in Germany, Spain and in The Netherlands. New projects of creation are under study, except in France where public authorities remain reticent with respect to this evolution. Power trade is deeply overturning the organization of power markets with offering an alternative to the direct supply from producers and distributors. This study presents the functioning modes of the main stock exchanges in operation today. It analyzes the stakes of power trade for all intervening parties of the market (historical actors, newcomers and consumers). The situation and the strategic behaviour of 12 key-actors of the power sector are also examined. (J.S.)

Multiplicative point process as a model of trading activity

Science.gov (United States)

Gontis, V.; Kaulakys, B.

2004-11-01

Signals consisting of a sequence of pulses show that inherent origin of the 1/ f noise is a Brownian fluctuation of the average interevent time between subsequent pulses of the pulse sequence. In this paper, we generalize the model of interevent time to reproduce a variety of self-affine time series exhibiting power spectral density S( f) scaling as a power of the frequency f. Furthermore, we analyze the relation between the power-law correlations and the origin of the power-law probability distribution of the signal intensity. We introduce a stochastic multiplicative model for the time intervals between point events and analyze the statistical properties of the signal analytically and numerically. Such model system exhibits power-law spectral density S( f)∼1/ fβ for various values of β, including β= {1}/{2}, 1 and {3}/{2}. Explicit expressions for the power spectra in the low-frequency limit and for the distribution density of the interevent time are obtained. The counting statistics of the events is analyzed analytically and numerically, as well. The specific interest of our analysis is related with the financial markets, where long-range correlations of price fluctuations largely depend on the number of transactions. We analyze the spectral density and counting statistics of the number of transactions. The model reproduces spectral properties of the real markets and explains the mechanism of power-law distribution of trading activity. The study provides evidence that the statistical properties of the financial markets are enclosed in the statistics of the time interval between trades. A multiplicative point process serves as a consistent model generating this statistics.

a metabolic wastage model for the rate-yield trade off

Indian Academy of Sciences (India)

A METABOLIC WASTAGE MODEL FOR THE RATE-YIELD TRADE OFF. There is a growth limiting step in which an intermediate metabolite (m) has to hit a target molecule (t). ... D= rate of diffusing out. S= the rate of formation of the metabolite. The equilibrium loss decides the yield. The no. of activated targets decide the rate ...

The Agricultural Model Intercomparison and Improvement Project (AgMIP): Progress and Preliminary Results

Science.gov (United States)

Rosenzweig, C.

2011-12-01

The Agricultural Model Intercomparison and Improvement Project (AgMIP) is a distributed climate-scenario simulation exercise for historical model intercomparison and future climate change conditions with participation of multiple crop and agricultural trade modeling groups around the world. The goals of AgMIP are to improve substantially the characterization of risk of hunger and world food security due to climate change and to enhance adaptation capacity in both developing and developed countries. Recent progress and the current status of AgMIP will be presented, highlighting three areas of activity: preliminary results from crop pilot studies, outcomes from regional workshops, and emerging scientific challenges. AgMIP crop modeling efforts are being led by pilot studies, which have been established for wheat, maize, rice, and sugarcane. These crop-specific initiatives have proven instrumental in testing and contributing to AgMIP protocols, as well as creating preliminary results for aggregation and input to agricultural trade models. Regional workshops are being held to encourage collaborations and set research activities in motion for key agricultural areas. The first of these workshops was hosted by Embrapa and UNICAMP and held in Campinas, Brazil. Outcomes from this meeting have informed crop modeling research activities within South America, AgMIP protocols, and future regional workshops. Several scientific challenges have emerged and are currently being addressed by AgMIP researchers. Areas of particular interest include geospatial weather generation, ensemble methods for climate scenarios and crop models, spatial aggregation of field-scale yields to regional and global production, and characterization of future changes in climate variability.

Task 28: Web Accessible APIs in the Cloud Trade Study

Science.gov (United States)

Gallagher, James; Habermann, Ted; Jelenak, Aleksandar; Lee, Joe; Potter, Nathan; Yang, Muqun

2017-01-01

This study explored three candidate architectures for serving NASA Earth Science Hierarchical Data Format Version 5 (HDF5) data via Hyrax running on Amazon Web Services (AWS). We studied the cost and performance for each architecture using several representative Use-Cases. The objectives of the project are: Conduct a trade study to identify one or more high performance integrated solutions for storing and retrieving NASA HDF5 and Network Common Data Format Version 4 (netCDF4) data in a cloud (web object store) environment. The target environment is Amazon Web Services (AWS) Simple Storage Service (S3).Conduct needed level of software development to properly evaluate solutions in the trade study and to obtain required benchmarking metrics for input into government decision of potential follow-on prototyping. Develop a cloud cost model for the preferred data storage solution (or solutions) that accounts for different granulation and aggregation schemes as well as cost and performance trades.

Projection Models 2010

DEFF Research Database (Denmark)

Illerup, J. B.; Birr-Pedersen, K.; Mikkelsen, M. H

Models for projection of SO2-, NOx-, NMVOC- and NH3-emissions to the atmosphere have been developed and the Danish emissions have been projected until 2010 from a basis scenario including all implemented and planned measures. The projections of the four pollutants indicate that it may be difficult...

Trading on extinction: An open-access deterrence model for the South African abalone fishery

Directory of Open Access Journals (Sweden)

Douglas J. Crookes

2016-03-01

Full Text Available South African rhinoceros (e.g.Diceros bicornis and abalone (Haliotis midae have in common that they both are harvested under open-access conditions, are high-value commodities and are traded illegally. The difference is that a legal market for abalone already exists. An open-access deterrence model was developed for South African abalone, using Table Mountain National Park as a case study. It was found that illegal poaching spiked following the closure of the recreational fishery. The resource custodian's objective is to maximise returns from confiscations. This study showed that a legal trade results in a trading on extinction resource trap, with a race for profits, an increase in the probability of detection after a poaching event and the depletion of populations. In contrast with HS Gordon's seminal article (J Polit Econ 1954;62:124-142, profit maximisation does not automatically improve the sustainability of the resource. Under certain conditions (e.g. a legal trade with costly enforcement, profit maximisation may actually deplete abalone populations. The article also has implications for rhino populations, as a legal trade is currently proposed.

Canada - United States Natural Gas Trade - A Model for Expanding Regional Energy Trade

International Nuclear Information System (INIS)

D ArcyMcGee, T.

1996-01-01

This document deals with the expansion of Canadian natural gas exports to the United States. Over the past decade, these exports have more than tripled. The expansion of energy trade requires a growing market, a competitive supply source, deregulation of markets and free trade agreements, capital investment and eventually a transparent market with many buyers and sellers. Even if all these factors coexisted, there have been problems linked to this expansion of exports, such as the construction of transportation capacity. (TEC)

Individualism and Collectivism in Trade Agents

NARCIS (Netherlands)

Hofstede, G.J.; Jonker, C.M.; Verwaart, D.

2008-01-01

Agent-Based Modeling can contribute to the understanding of international trade processes. Models for the effects of culture and cultural differences on agent behavior are required for realistic agent-based simulation of international trade. This paper makes a step toward modeling of culture in

Trade and the Development of the Pacific Alliance

Directory of Open Access Journals (Sweden)

José Armando Hernández Bernal

2015-11-01

Full Text Available The Pacific Alliance is a process of deep integration among Colombia, Chile, Peru and Mexico, which aims to build a free trade area and to project into the Asia-Pacific region, in order to enhance existing trade agreements among the members. There is no deep trade relationships among these four countries, despite having regional agreements since the 1990s, as demonstrated by the low volume of reciprocal exports and imports, in addition to the low indicator of intra-industrial trade. In this paper, intra-regional trade index is calculated among the countries of the Pacific Alliance, evidencing low indicators, but with a growth, encouraged by reciprocal or unilateral policies of commercial opening, and by an environment favoring economic growth throughout the region.

Trade costs in empirical New Economic Geography

NARCIS (Netherlands)

Bosker, E.M.; Garretsen, J.H.

Trade costs are a crucial element of New Economic Geography (NEG) models. Without trade costs there is no role for geography. In empirical NEG studies the unavailability of direct trade cost data calls for the need to approximate these trade costs by introducing a trade cost function. In doing so,

A reaction-diffusion model for market fluctuations - A relation between price change and traded volumes

Science.gov (United States)

Yuvan, Steven; Bier, Martin

2018-02-01

Two decades ago Bak et al. (1997) [3] proposed a reaction-diffusion model to describe market fluctuations. In the model buyers and sellers diffuse from opposite ends of a 1D interval that represents a price range. Trades occur when buyers and sellers meet. We show analytically and numerically that the model well reproduces the square-root relation between traded volumes and price changes that is observed in real-life markets. The result is remarkable as this relation has commonly been explained in terms of more elaborate trader strategies. We furthermore explain why the square-root relation is robust under model modifications and we show how real-life bond market data exhibit the square-root relation.

Equilibrium models of trade equations : a critical review

OpenAIRE

Portugal, Marcelo Savino

1993-01-01

Neste artigo, revisa-se a literatura teórica sobre equações de comércio exterior, inclusive o modelo de comércio baseado na teoria da produção. Discute-se vários problemas comumente encontrados em trabalhos empíricos e também a literatura existente sobre equações relativas ao comércio exterior brasileiro. In this paper we review the theoretical literature on trade equation models, including the production theory approach. We discuss several empirical problems commonly found in the applied ...

Gravity with Intermediate Goods Trade

Directory of Open Access Journals (Sweden)

Sujin Jang

2017-12-01

Full Text Available This paper derives the gravity equation with intermediate goods trade. We extend a standard monopolistic competition model to incorporate intermediate goods trade, and show that the gravity equation with intermediates trade is identical to the one without it except in that gross output should be used as the output measure instead of value added. We also show that the output elasticity of trade is significantly underestimated when value added is used as the output measure. This implies that with the conventional gravity equation, the contribution of output growth can be substantially underestimated and the role of trade costs reduction can be exaggerated in explaining trade expansion, as we demonstrate for the case of Korea's trade growth between 1995 and 2007.

Market Analysis and Risk Management of EU Emissions Trading - MARMET

International Nuclear Information System (INIS)

Ollikainen, M.; Aatola, P.; Ollikka, K.; Kumpulainen, A.; Pohjola, T.; Lappalainen, E.

2007-01-01

The first period of the EU Emissions Trading Scheme (EU ETS) commenced on January 1st 2005. It implies new challenges to companies included in the scheme. A central challenge is the uncertainty related to the markets. In order to manage their risks and profitability companies need to be able to estimate future price developments of emission allowances. The University of Helsinki is conducting a research project in cooperation with the Helsinki University of Technology that will provide necessary information for analyzing European Union emission allowance (EUA) markets and create risk management competence. The objectives of the research project are (1) to develop a price estimation model for EU emission allowances and (2) to develop risk management competence related to EU ETS. With the price estimation model the short-term price developments of EUAs can be estimated. By utilizing the model companies can reduce uncertainties related to the markets. The project also delivers a general risk management model for EU ETS that aims at improving competitiveness of companies. (orig.)

Trade and Transport in Late Roman Syria

Science.gov (United States)

Fletcher, Christopher

Despite the relative notoriety and miraculous level of preservation of the Dead Cities of Syria, fundamental questions of economic and subsistence viability remain unanswered. In the 1950s Georges Tchalenko theorized that these sites relied on intensive olive monoculture to mass export olive oil to urban centers. Later excavations discovered widespread cultivation of grains, fruit, and beans which directly contradicted Tchalenko's assertion of sole reliance on oleoculture. However, innumerable olive presses in and around the Dead Cities still speak to a strong tradition of olive production. This thesis tests the logistical viability of olive oil transportation from the Dead Cities to the distant urban centers of Antioch and Apamea. Utilization of Raster GIS and remote sensing data allows for the reconstruction of the physical and social landscapes of Late Roman Syria. Least Cost Analysis techniques produce a quantitative and testable model with which to simulate and evaluate the viability of long distance olive oil trade. This model not only provides a clearer understanding of the nature of long distance trade relationships in Syria, but also provides a model for investigating ancient economic systems elsewhere in the world. Furthermore, this project allows for the generation of new information regarding sites that are currently inaccessible to researchers.

75 FR 21597 - Business Development Trade Mission to Baghdad, Iraq

Science.gov (United States)

2010-04-26

... large projects relating to construction, highways, railways, telecommunications, and security and... DEPARTMENT OF COMMERCE International Trade Administration Business Development Trade Mission to... October 2010* and has been created to assist U.S. firms find business partners and sell equipment and...

Systems for carbon trading. An overview

International Nuclear Information System (INIS)

Hasselknippe, Henrik

2003-12-01

This paper focuses on the increasing number of regional, national and international systems for trading and transfer of greenhouse gas emission allowances and emission reduction credits. The paper will serve as a platform for further discussions on the development of the international carbon trading market. The analysis builds on the International Emissions Trading Association (IETA) Trading Schemes Database, which has been developed by Point Carbon, covering all known trading schemes and programs. A full overview of all existing trading schemes and proposals is presented, showing inter alia the outreach and judicial nature of the systems, the range and nature of emission reduction or credit purchase targets, allocation methods used, links to external systems, and possibilities for the use of project-based credits. A comparative assessment is performed on a number of design criteria, allowing for conclusions to be drawn on the level of harmonisation of these systems, and the identification of convergence or divergence of important operational features. The systems covered in the analysis display considerable variation when it comes to key design criteria and functionality. A rapid integration of many of the planned and active systems seems likely following the agreement on the EU emissions trading scheme, and will be further accelerated if the Kyoto Protocol is ratified

Unsustainable colletion and unfair trade?

DEFF Research Database (Denmark)

Larsen, Helle Overgaard; Olsen, Carsten Smith

2007-01-01

Abstract The trade in medicinal plants for herbal remedies is large and probably increasing. The trade has attracted the attention of scientists and development planners interested in the impact on plant populations and the potential to improve rural livelihoods through community based management...... and conservation. This has resulted in a large number of publications and development activities, ranging from small NGO projects to new government policies. Through a review of 119 references from Nepal, 4 common assumptions regarding the medicinal plant collection and trade have been identified: I....... The commercial medicinal plant resource base is becoming ever more degraded as a consequence of collection; II. The medicinal plants are an open-access resource; III. Cultivation can contribute to conservation of commercially collected medicinal plant species; and IV. Medicinal plant harvesters are cheated...

PORTNUS Project

Energy Technology Data Exchange (ETDEWEB)

Loyal, Rebecca E. [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States)

2015-07-14

The objective of the Portunus Project is to create large, automated offshore ports that will the pace and scale of international trade. Additionally, these ports would increase the number of U.S. domestic trade vessels needed, as the imported goods would need to be transported from these offshore platforms to land-based ports such as Boston, Los Angeles, and Newark. Currently, domestic trade in the United States can only be conducted by vessels that abide by the Merchant Marine Act of 1920 – also referred to as the Jones Act. The Jones Act stipulates that vessels involved in domestic trade must be U.S. owned, U.S. built, and manned by a crew made up of U.S. citizens. The Portunus Project would increase the number of Jones Act vessels needed, which raises an interesting economic concern. Are Jones Act ships more expensive to operate than foreign vessels? Would it be more economically efficient to modify the Jones Act and allow vessels manned by foreign crews to engage in U.S. domestic trade? While opposition to altering the Jones Act is strong, it is important to consider the possibility that ship-owners who employ foreign crews will lobby for the chance to enter a growing domestic trade market. Their success would mean potential job loss for thousands of Americans currently employed in maritime trade.

Effective application of improved profit-mining algorithm for the interday trading model.

Science.gov (United States)

Hsieh, Yu-Lung; Yang, Don-Lin; Wu, Jungpin

2014-01-01

Many real world applications of association rule mining from large databases help users make better decisions. However, they do not work well in financial markets at this time. In addition to a high profit, an investor also looks for a low risk trading with a better rate of winning. The traditional approach of using minimum confidence and support thresholds needs to be changed. Based on an interday model of trading, we proposed effective profit-mining algorithms which provide investors with profit rules including information about profit, risk, and winning rate. Since profit-mining in the financial market is still in its infant stage, it is important to detail the inner working of mining algorithms and illustrate the best way to apply them. In this paper we go into details of our improved profit-mining algorithm and showcase effective applications with experiments using real world trading data. The results show that our approach is practical and effective with good performance for various datasets.

Effective Application of Improved Profit-Mining Algorithm for the Interday Trading Model

Directory of Open Access Journals (Sweden)

Yu-Lung Hsieh

2014-01-01

Full Text Available Many real world applications of association rule mining from large databases help users make better decisions. However, they do not work well in financial markets at this time. In addition to a high profit, an investor also looks for a low risk trading with a better rate of winning. The traditional approach of using minimum confidence and support thresholds needs to be changed. Based on an interday model of trading, we proposed effective profit-mining algorithms which provide investors with profit rules including information about profit, risk, and winning rate. Since profit-mining in the financial market is still in its infant stage, it is important to detail the inner working of mining algorithms and illustrate the best way to apply them. In this paper we go into details of our improved profit-mining algorithm and showcase effective applications with experiments using real world trading data. The results show that our approach is practical and effective with good performance for various datasets.

Extending freight flow modelling to sub-Saharan Africa to inform infrastructure investments - trade data issues

Directory of Open Access Journals (Sweden)

Jan Havenga

2012-11-01

Full Text Available This paper highlights the first attempt by researchers at Stellenbosch University to model freight flows between and for 17 countries in sub-Saharan Africa (SSA. The model will be informed by and linked to the South African surface Freight Demand Model (FDM given these dimensions. By analysing and collating available datasets and developing a freight flow model, a better understanding of freight movements between countries can be obtained and then used for long-term planning efforts. A simple methodology is envisaged that will entail a high-level corridor classification that links a major district in the country with a similar district in another country. Existing trade data will be used to corroborate new base-year economic demand and supply volumetric data that will be generated from social accounting matrices for each country. The trade data will also provide initial flow dynamics between countries that will be refined according to the new volumes. The model can then generate commodity-level corridor flows between SSA countries, and between SSA countries and the rest of the world, as well as intra-country rural and metropolitan flows, using a gravity-based modelling approach. This article outlines efforts to harmonise trade data between the 17 countries identified, as well as between these countries and the rest of the world as a first step towards developing a freight demand model for sub-Saharan Africa.

International Trade and Labor Market Discrimination

NARCIS (Netherlands)

R. Chisik (Richard); J.E. Namini (Julian Emami)

2016-01-01

textabstractWe embed a competitive search model with labor market discrimination, or nepotism, into a two-sector, two-country framework in order to analyze how labor market discrimination impacts the pattern of international trade and also how trade trade affects discrimination. Discrimination, or

Identification of policies for a sustainable legal trade in rhinoceros horn based on population projection and socioeconomic models

Science.gov (United States)

Di Minin, Enrico; Laitila, Jussi; Montesino-Pouzols, Federico; Leader-Williams, Nigel; Slotow, Rob; Goodman, Peter S; Conway, Anthony J; Moilanen, Atte

2015-01-01

Between 1990 and 2007, 15 southern white (Ceratotherium simum simum) and black (Diceros bicornis) rhinoceroses on average were killed illegally every year in South Africa. Since 2007 illegal killing of southern white rhinoceros for their horn has escalated to >950 individuals/year in 2013. We conducted an ecological–economic analysis to determine whether a legal trade in southern white rhinoceros horn could facilitate rhinoceros protection. Generalized linear models were used to examine the socioeconomic drivers of poaching, based on data collected from 1990 to 2013, and to project the total number of rhinoceroses likely to be illegally killed from 2014 to 2023. Rhinoceros population dynamics were then modeled under 8 different policy scenarios that could be implemented to control poaching. We also estimated the economic costs and benefits of each scenario under enhanced enforcement only and a legal trade in rhinoceros horn and used a decision support framework to rank the scenarios with the objective of maintaining the rhinoceros population above its current size while generating profit for local stakeholders. The southern white rhinoceros population was predicted to go extinct in the wild El Grano de los Datos de Costo Económico con Referencia Espacial y de Beneficio a la Biodiversidad y la Efectividad de una Estrategia de Determinación de Costos Resumen Entre 1990 y 2007, en promedio fueron cazados ilegalmente cada año 15 rinocerontes sureños blancos (Ceratotherium simum simum) y negros (Diceros bicornis) en Sudáfrica. Desde 2007 la caza ilegal de rinocerontes sureños blancos por su cuerno ha escalado a más de 950 individuos al año en 2013. Llevamos a cabo un análisis ecológico-económico para determinar si el comercio legal de cuerno de rinoceronte sureño blanco podría facilitar la protección del rinoceronte. Se usaron modelos lineales generalizados para examinar a los conductores socio-económicos de la caza furtiva, con base en datos colectados

The Effect of Tariff Reduction in Agricultural Sector on Macroeconomic Variables: Using Global Trade Analysis Project (GTAP

Directory of Open Access Journals (Sweden)

H. Heidari

2016-03-01

Full Text Available Introduction: Economic effects of membership in the WTO in recent years, has been one of the most important issues for Iranian economy. If Iran joins the WTO, in this process, tariff reduction in agricultural sector will be one of the policies which has to be employed. Therefore, investigating economic effects of tariff reduction or even its elimination in this sector will be necessary in running effective policies to minimize the probabilistic losses of accession. Tariffs on agricultural products in Iran are determined merely on the basis of annual country economy, and have no long term strategy. Government is just obliged to impose effective tariffs on agricultural products imports, in order to protect local productions. On the other hand, according to the census of population and housing, the share of agricultural sector in employment has reduced during the past decade. Moreover, Iran central bank information indicated the reduction in the share of agricultural sector in GDP for the past decade. Declining the share of agriculture in production and employment, considering the high number of university graduates in the field of agriculture along with rising unemployment rate of this group, motivated this study to investigate the effect of tariff reduction in this sector on macroeconomic variables. Materials and Methods: This study analyzed the welfare effects of import tariffs reduction in agricultural sector from Iran most important commercial partners and vice versa, using the Global Trade Analysis Project (GTAP, based on computable general equilibrium (CGE model. Moreover, the effects of tariffs reduction, is investigated on output, price level and transfer of production factors between different economic sectors. In order to simulate the above model, we used GTAP version 8 which covers 57 commodities and 113 regions with economic information of these regions. This model uses Social Accounting Matrix of countries as data information. Our

Bilateral Trade Flows and Income Distribution Similarity

Science.gov (United States)

2016-01-01

Current models of bilateral trade neglect the effects of income distribution. This paper addresses the issue by accounting for non-homothetic consumer preferences and hence investigating the role of income distribution in the context of the gravity model of trade. A theoretically justified gravity model is estimated for disaggregated trade data (Dollar volume is used as dependent variable) using a sample of 104 exporters and 108 importers for 1980–2003 to achieve two main goals. We define and calculate new measures of income distribution similarity and empirically confirm that greater similarity of income distribution between countries implies more trade. Using distribution-based measures as a proxy for demand similarities in gravity models, we find consistent and robust support for the hypothesis that countries with more similar income-distributions trade more with each other. The hypothesis is also confirmed at disaggregated level for differentiated product categories. PMID:27137462

To trade or not to trade: Link prediction in the virtual water network

Science.gov (United States)

Tuninetti, Marta; Tamea, Stefania; Laio, Francesco; Ridolfi, Luca

2017-12-01

In the international trade network, links express the (temporary) presence of a commercial exchange of goods between any two countries. Given the dynamical behaviour of the trade network, where links are created and dismissed every year, predicting the link activation/deactivation is an open research question. Through the international trade network of agricultural goods, water resources are 'virtually' transferred from the country of production to the country of consumption. We propose a novel methodology for link prediction applied to the network of virtual water trade. Starting from the assumption of having links between any two countries, we estimate the associated virtual water flows by means of a gravity-law model using country and link characteristics as drivers. We consider the links with estimated flows higher than 1000 m3/year as active links, while the others as non-active links. Flows traded along estimated active links are then re-estimated using a similar but differently-calibrated gravity-law model. We were able to correctly model 84% of the existing links and 93% of the non-existing links in year 2011. It is worth to note that the predicted active links carry 99% of the global virtual water flow; hence, missed links are mainly those where a minimum volume of virtual water is exchanged. Results indicate that, over the period from 1986 to 2011, population, geographical distances between countries, and agricultural efficiency (through fertilizers use) are the major factors driving the link activation and deactivation. As opposed to other (network-based) models for link prediction, the proposed method is able to reconstruct the network architecture without any prior knowledge of the network topology, using only the nodes and links attributes; it thus represents a general method that can be applied to other networks such as food or value trade networks.

Preliminary preview for a geographic and monitoring program project; a review of point source-nonpoint source effluent trading/offset systems in watersheds

Science.gov (United States)

Wood, Alexander Warren; Bernknopf, Richard L.

2003-01-01

Watershed-based trading and offset systems are being developed to improve policy-maker?s and regulator?s ability to assess nonpoint source impacts in watersheds and to evaluate the efficacy of using market-incentive programs for preserving environmental quality. An overview of the history of successful and failed trading programs throughout the United States suggests that certain political, economic, and scientific conditions within a temporal and spatial setting help meet water quality standards. The current lack of spontaneous trading among dischargers does not mean that a marketable permit trading system is an inherently inefficient regulatory approach. Rather, its infrequent use is the result of institutional and informational barriers. Improving and refining the earth science information and technologies may help determine whether trading is a suitable policy for improving water quality. However, it is debatable whether or not environmental information is the limiting factor. This paper reviews additional factors affecting the potential for instituting a trading policy. The motivation for investigating and reviewing the history of offsets and trading was inspired by a project in the preliminary stages being developed by U.S. Geological Survey Western Geographic Science Center and the Environmental Protection Agency Region IX. An offset feasibility study will be an integrated, map-based approach that incorporates environmental, economic, and statistical information to investigate the potential for using offsets to meet mercury Total Maximum Daily Loads in the Sacramento River watershed. A regional water-quality offset program is being studied that may help known point sources reduce mercury loading more cost effectively by the remediation of abandoned mines or other diffuse sources as opposed to more costly treatment at their own sites. An efficient offset program requires both a scientific basis and methods to translate that science into a regulatory decision

Supply chain model with price- and trade credit-sensitive demand under two-level permissible delay in payments

Science.gov (United States)

Giri, B. C.; Maiti, T.

2013-05-01

This article develops a single-manufacturer and single-retailer supply chain model under two-level permissible delay in payments when the manufacturer follows a lot-for-lot policy in response to the retailer's demand. The manufacturer offers a trade credit period to the retailer with the contract that the retailer must share a fraction of the profit earned during the trade credit period. On the other hand, the retailer provides his customer a partial trade credit which is less than that of the manufacturer. The demand at the retailer is assumed to be dependent on the selling price and the trade credit period offered to the customers. The average net profit of the supply chain is derived and an algorithm for finding the optimal solution is developed. Numerical examples are given to demonstrate the coordination policy of the supply chain and examine the sensitivity of key model-parameters.

Evaluating Trade Areas Using Social Media Data with a Calibrated Huff Model

Directory of Open Access Journals (Sweden)

Yandong Wang

2016-07-01

Full Text Available Delimitating trade areas is a major business concern. Today, mobile communication technologies make it possible to use social media data for this purpose. Few studies however, have focused on methods to extract suitable samples from social media data for trade area delimitation. In our case study, we divided Beijing into regular grid cells and extracted activity centers for each social media user. Ten sample sets were obtained by selecting users based on the retail agglomerations they visited and aggregating user activity centers to each grid cell. We calculated distance and visitation frequency attributes for each user and each grid cell. The distance value of a grid cell is the average distance of user activity centers in this grid cell to a retail agglomeration. The visitation frequency of a grid cell refers to the average count of visits to retail agglomerations by user activity centers for a cell. The calculated attribute values of 10 sets were input into a Huff model and the delimitated trade areas were evaluated. Results show that sets obtained by aggregating user activity centers have a better delimitating effect than sets obtained without aggregation. Differences in the distribution and intensity of trade areas also became apparent.

INDICATIVE MODEL OF DEVIATIONS IN PROJECT

Directory of Open Access Journals (Sweden)

Олена Борисівна ДАНЧЕНКО

2016-02-01

Full Text Available The article shows the process of constructing the project deviations indicator model. It based on a conceptual model of project deviations integrated management (PDIM. During the project different causes (such as risks, changes, problems, crises, conflicts, stress lead to deviations of integrated project indicators - time, cost, quality, and content. For a more detailed definition of where in the project deviations occur and how they are dangerous for the whole project, it needs to develop an indicative model of project deviations. It allows identifying the most dangerous deviations that require PDIM. As a basis for evaluation of project's success has been taken famous model IPMA Delta. During the evaluation, IPMA Delta estimated project management competence of organization in three modules: I-Module ("Individuals" - a self-assessment personnel, P-module ("Projects" - self-assessment of projects and/or programs, and O-module ("Organization" - used to conduct interviews with selected people during auditing company. In the process of building an indicative model of deviations in the project, the first step is the assessment of project management in the organization by IPMA Delta. In the future, built cognitive map and matrix of system interconnections of the project, which conducted simulations and built a scale of deviations for the selected project. They determined a size and place of deviations. To identify the detailed causes of deviations in the project management has been proposed to use the extended system of indicators, which is based on indicators of project management model Project Excellence. The proposed indicative model of deviations in projects allows to estimate the size of variation and more accurately identify the place of negative deviations in the project and provides the project manager information for operational decision making for the management of deviations in the implementation of the project

Trade-Space Analysis Tool for Constellations (TAT-C)

Science.gov (United States)

Le Moigne, Jacqueline; Dabney, Philip; de Weck, Olivier; Foreman, Veronica; Grogan, Paul; Holland, Matthew; Hughes, Steven; Nag, Sreeja

2016-01-01

Traditionally, space missions have relied on relatively large and monolithic satellites, but in the past few years, under a changing technological and economic environment, including instrument and spacecraft miniaturization, scalable launchers, secondary launches as well as hosted payloads, there is growing interest in implementing future NASA missions as Distributed Spacecraft Missions (DSM). The objective of our project is to provide a framework that facilitates DSM Pre-Phase A investigations and optimizes DSM designs with respect to a-priori Science goals. In this first version of our Trade-space Analysis Tool for Constellations (TAT-C), we are investigating questions such as: How many spacecraft should be included in the constellation? Which design has the best costrisk value? The main goals of TAT-C are to: Handle multiple spacecraft sharing a mission objective, from SmallSats up through flagships, Explore the variables trade space for pre-defined science, cost and risk goals, and pre-defined metrics Optimize cost and performance across multiple instruments and platforms vs. one at a time.This paper describes the overall architecture of TAT-C including: a User Interface (UI) interacting with multiple users - scientists, missions designers or program managers; an Executive Driver gathering requirements from UI, then formulating Trade-space Search Requests for the Trade-space Search Iterator first with inputs from the Knowledge Base, then, in collaboration with the Orbit Coverage, Reduction Metrics, and Cost Risk modules, generating multiple potential architectures and their associated characteristics. TAT-C leverages the use of the Goddard Mission Analysis Tool (GMAT) to compute coverage and ancillary data, streamlining the computations by modeling orbits in a way that balances accuracy and performance.TAT-C current version includes uniform Walker constellations as well as Ad-Hoc constellations, and its cost model represents an aggregate model consisting of

Emissions trading in the Netherlands

International Nuclear Information System (INIS)

Zapfel, P.

2002-01-01

In the article 'Emissions trading in the Netherlands. The optimal route towards an international scheme?' (issue 1, 2002) Mulder asks the question to what extent a Dutch national CO2 trading scheme is a worthwhile effort toward an international trading scheme (i.e. is it a first step toward a European-wide emissions trading scheme) when presenting the proposal of the Dutch Commission on CO2 trade and related economic analysis. His conclusion, underlined by modeling results, is that a national scheme along the lines proposed by the Dutch Commission is an expensive policy instrument due to the high transaction costs. The first-best option according to Mulder is to impose CO2-emissions trading with an absolute ceiling on an international level. In the meantime, he states, improving the design of the energy tax system may be an efficient alternative. In this comment I would like to address two issues. First, does the approach proposed by the Dutch Commission make sense from a European perspective towards an EU-wide cap and trade allowance scheme as proposed by the European Commission in October 2001? and Second, what might this Dutch model and philosophy, scaled up to the EU level, look like?

Measuring the Information Content of Stock Trades.

OpenAIRE

Hasbrouck, Joel

1991-01-01

This paper suggests that the interactions of security trades and quote revisions be modeled as a vector autoregressive system. Within this framework, a trade's information effect may be meaningfully measured as the ultimate price impact of the trade innovation. Estimates for a sample of NYSE issues suggest a trade's full price impact arrives only with a protracted lag; the impact is a positive and concave function of the trade size; large trades cause the spread to widen; trades occurring in ...

Naesliden project: FEM modelling strategies

Energy Technology Data Exchange (ETDEWEB)

Borg, T.

1980-05-15

A schematized description is given of the different stages in the project. The aim is to show the development of the project and the strategies which have been chosen. The four different stages in the project are treated from the following points of view: the reasons for the choice of material models; the determination of model properties; and the control of the calculated values. In the origin plan for the project it was stated to only use a joint element model. However, it was shown to be a reasonable strategy to use both a general linear elastic model and a geometric restricted model with joint elements. During the course of the Project's development stages, it was found that a reduction in the number of rock types could be made without loss of generality. A modified strategy is suggested based on more studies of the rock bahavior and less advanced calculations in the first stages of the project.

Impact of Trade Openness and Sector Trade on Embodied Greenhouse Gases Emissions and Air Pollutants

OpenAIRE

Islam, Moinul; Kanemoto, Keiichiro; Managi, Shunsuke

2016-01-01

The production of goods and services generates greenhouse gases (GHGs) and air pollution both directly and through the activities of the supply chains on which they depend. The analysis of the latter—called embodied emissions—in the cause of internationally traded goods and services is the subject of this paper. We find that trade openness increases embodied emissions in international trade (EET). We also examine the impact of sector trade on EET. By applying a fixed-effect model using large...

International trade in oil, gas and carbon emission rights: An intertemporal general equilibrium model

International Nuclear Information System (INIS)

Manne, A.S.; Rutherford, T.F.

1994-01-01

This paper employs a five-region intertemporal model to examine three issues related to carbon emission restrictions. First, we investigate the possible impact of such limits upon future oil prices. We show that carbon limits are likely to differ in their near- and long-term impact. Second, we analyze the problem of open-quotes leakageclose quotes which could arise if the OECD countries were to adopt unilateral limits upon carbon emissions. Third, we quantify some of the gains from trade in carbon emission rights. Each of these issues have been studied before, but to our knowledge this is the first study based on a multi-regional, forward-looking model. We show that sequential joint maximization can be an effective way to compute equilibria for intertemporal general equilibrium models of international trade. 18 refs., 10 figs

Computable general equilibrium modelling in the context of trade and environmental policy

Energy Technology Data Exchange (ETDEWEB)

Koesler, Simon Tobias

2014-10-14

This thesis is dedicated to the evaluation of environmental policies in the context of climate change. Its objectives are twofold. Its first part is devoted to the development of potent instruments for quantitative impact analysis of environmental policy. In this context, the main contributions include the development of a new computable general equilibrium (CGE) model which makes use of the new comprehensive and coherent World Input-Output Dataset (WIOD) and which features a detailed representation of bilateral and bisectoral trade flows. Moreover it features an investigation of input substitutability to provide modellers with adequate estimates for key elasticities as well as a discussion and amelioration of the standard base year calibration procedure of most CGE models. Building on these tools, the second part applies the improved modelling framework and studies the economic implications of environmental policy. This includes an analysis of so called rebound effects, which are triggered by energy efficiency improvements and reduce their net benefit, an investigation of how firms restructure their production processes in the presence of carbon pricing mechanisms, and an analysis of a regional maritime emission trading scheme as one of the possible options to reduce emissions of international shipping in the EU context.

Computable general equilibrium modelling in the context of trade and environmental policy

International Nuclear Information System (INIS)

Koesler, Simon Tobias

2014-01-01

This thesis is dedicated to the evaluation of environmental policies in the context of climate change. Its objectives are twofold. Its first part is devoted to the development of potent instruments for quantitative impact analysis of environmental policy. In this context, the main contributions include the development of a new computable general equilibrium (CGE) model which makes use of the new comprehensive and coherent World Input-Output Dataset (WIOD) and which features a detailed representation of bilateral and bisectoral trade flows. Moreover it features an investigation of input substitutability to provide modellers with adequate estimates for key elasticities as well as a discussion and amelioration of the standard base year calibration procedure of most CGE models. Building on these tools, the second part applies the improved modelling framework and studies the economic implications of environmental policy. This includes an analysis of so called rebound effects, which are triggered by energy efficiency improvements and reduce their net benefit, an investigation of how firms restructure their production processes in the presence of carbon pricing mechanisms, and an analysis of a regional maritime emission trading scheme as one of the possible options to reduce emissions of international shipping in the EU context.

A Newsboy Model with Quick Response under Sustainable Carbon Cap-N-Trade

Directory of Open Access Journals (Sweden)

Jinpyo Lee

2018-05-01

Full Text Available In this study, we consider a carbon emission cap-and-trade system in which the policymaker decides the cap for carbon emissions for each company and also has the power to regulate the carbon price in the carbon trading market for the purpose of minimizing total carbon emissions. We assume that there are n companies regulated in terms of carbon emissions by the policymaker, each of which emits carbon when producing its own product. After learning the carbon cap and carbon price regulated by the policymaker, each company makes simultaneous pricing and production decisions using the quick response strategy, and can trade some of its carbon emissions in the carbon market at the carbon price set by the policymaker, if the carbon emissions are below the cap. We model this non-cooperative game between the policymaker and companies as a Stackelberg game in which the policymaker is the leader and the companies are the followers. We show that there exists an equilibrium for the policymaker’s carbon pricing decisions and each company’s production and pricing decisions. From this equilibrium, we derive a carbon cap for the company at which the amount of traded carbon emissions is zero. This implies that some company’s production and pricing decisions, even under carbon emission restrictions, will be equal to those without the carbon emission restrictions. Also, we find that companies participating in the carbon cap-and-trade system would reduce their carbon emissions through reduced production, but can have a chance to improve profit through control of the product’s selling price.

Geopolitical model of investment power station construction project implementation

Science.gov (United States)

Malafeyev, Oleg; Farvazov, Konstantin; Zenovich, Olga; Zaitseva, Irina; Kostyukov, Konstantin; Svechinskaya, Tatiana

2018-04-01

Two geopolitical actors implement a geopolitical project that involves transportaion and storage of some commodities. They interact with each other through a transport network. The network consists of several interconnected vertices. Some of the vetrices are trading hubs, storage spaces, production hubs and goods buyers. Actors wish to satify the demand of buyers and recieve the highest possible profit subject to compromise solution principle. A numerical example is given.

Modeling the live-pig trade network in Georgia: Implications for disease prevention and control.

Directory of Open Access Journals (Sweden)

Esther Andrea Kukielka

Full Text Available Live pig trade patterns, drivers and characteristics, particularly in backyard predominant systems, remain largely unexplored despite their important contribution to the spread of infectious diseases in the swine industry. A better understanding of the pig trade dynamics can inform the implementation of risk-based and more cost-effective prevention and control programs for swine diseases. In this study, a semi-structured questionnaire elaborated by FAO and implemented to 487 farmers was used to collect data regarding basic characteristics about pig demographics and live-pig trade among villages in the country of Georgia, where very scarce information is available. Social network analysis and exponential random graph models were used to better understand the structure, contact patterns and main drivers for pig trade in the country. Results indicate relatively infrequent (a total of 599 shipments in one year and geographically localized (median Euclidean distance between shipments = 6.08 km; IQR = 0-13.88 km pig movements in the studied regions. The main factors contributing to live-pig trade movements among villages were being from the same region (i.e., local trade, usage of a middleman or a live animal market to trade live pigs by at least one farmer in the village, and having a large number of pig farmers in the village. The identified villages' characteristics and structural network properties could be used to inform the design of more cost-effective surveillance systems in a country which pig industry was recently devastated by African swine fever epidemics and where backyard production systems are predominant.

Modelling issues on climate change policies. A discussion of the GTAP-E model

Energy Technology Data Exchange (ETDEWEB)

Kremers, H.; Nijkamp, P.; Wang, Shunli [Department of Spatial Economics, Free University, Amsterdam (Netherlands)

2000-11-01

Ater the Kyoto agreements the need has arisen to trace the implications of various international environmental strategies. In this paper, we discuss relevant modelling issues of incorporating important environmental policy measures in one of the popular applied general equilibrium models for international trade, the so-called GTAP model. Special attention is paid to an extended version, the GTAP-E (Global Trade Analysis Project - Energy) by addressing the question how to include the widely discussed instruments of International Emission Trading, Joint Implementation, and Clean Development Mechanisms. The paper will be concluded with some policy issues. 10 refs.

Modelling issues on climate change policies. A discussion of the GTAP-E model

International Nuclear Information System (INIS)

Kremers, H.; Nijkamp, P.; Wang, Shunli

2000-01-01

Ater the Kyoto agreements the need has arisen to trace the implications of various international environmental strategies. In this paper, we discuss relevant modelling issues of incorporating important environmental policy measures in one of the popular applied general equilibrium models for international trade, the so-called GTAP model. Special attention is paid to an extended version, the GTAP-E (Global Trade Analysis Project - Energy) by addressing the question how to include the widely discussed instruments of International Emission Trading, Joint Implementation, and Clean Development Mechanisms. The paper will be concluded with some policy issues. 10 refs

Marrying project deliverability models and labour supply for the oil sands

Energy Technology Data Exchange (ETDEWEB)

Albright, R.; Whitaker, C.A. [Fluor Canada Ltd., Calgary, AB (Canada)

2005-07-01

Alberta is predicting a labour shortage to support the construction and operation of planned oil sands projects in the region. This paper provided a framework of options available to stakeholders in addressing resource constraints from the viewpoint of Fluor Canada Ltd. A background of previous projects was presented, which highlighted various strategies used in the management of human resources issues. Strategies included local hiring through the Alberta-based trade unions; recruitment from other Canadian provinces; a higher ratio of apprentices; extremely high utilization crew schedules; and extended use of overtime. It was noted that these strategies resulted in some cost overruns and lower productivity levels. A productivity analysis was used to determine and resolve productivity issues. Various regulations in Alberta were discussed in relation to training programs and skilled immigrants. Various international training facilities operated by Fluor were reviewed. A factor model of human resources issues was presented. Summaries of supply chain management, systems, and technologies were presented. Issues concerning prefabrication, pre-assembly, modularization and offsite fabrication were discussed. It was concluded that by taking advantage of lessons learned in previous projects a solid foundation is set from which to plan for future requirements. Successful project execution is achieved by taking advantage of current technology; enhancing modular construction standards; and using supply chain management techniques and enhanced labour supply solutions. tabs., figs.

Direct reciprocity stabilizes simultaneous hermaphroditism at high mating rates: A model of sex allocation with egg trading.

Science.gov (United States)

Henshaw, Jonathan M; Kokko, Hanna; Jennions, Michael D

2015-08-01

Simultaneous hermaphroditism is predicted to be unstable at high mating rates given an associated increase in sperm competition. The existence of reciprocal egg trading, which requires both hermaphroditism and high mating rates to evolve, is consequently hard to explain. We show using mathematical models that the presence of a trading economy creates an additional fitness benefit to egg production, which selects for traders to bias their sex allocation toward the female function. This female-biased sex allocation prevents pure females from invading a trading population, thereby allowing simultaneous hermaphroditism to persist stably at much higher levels of sperm competition than would otherwise be expected. More generally, our model highlights that simultaneous hermaphroditism can persist stably when mating opportunities are abundant, as long as sperm competition remains low. It also predicts that reciprocity will select for heavier investment in the traded resource. © 2015 The Author(s). Evolution © 2015 The Society for the Study of Evolution.

Trading away what kind of jobs? Globalization, trade and tasks in the US economy.

Science.gov (United States)

Kemeny, Thomas; Rigby, David

2012-04-01

Economists and other social scientists are calling for a reassessment of the impact of international trade on labor markets in developed and developing countries. Classical models of globalization and trade, based upon the international exchange of finished goods, fail to capture the fragmentation of much commodity production and the geographical separation of individual production tasks. This fragmentation, captured in the growing volume of intra-industry trade, prompts investigation of the effects of trade within, rather than between, sectors of the economy. In this paper we examine the relationship between international trade and the task structure of US employment. We link disaggregate US trade data from 1972 to 2006, the NBER manufacturing database, the Decennial Census, and occupational and task data from the Dictionary of Occupational Titles. Within-industry shifts in task characteristics are linked to import competition and technological change. Our results suggest that trade has played a major role in the growth in relative demand for nonroutine tasks, particularly those requiring high levels of interpersonal interaction.

Source of information-driven trading on the Prague Stock Exchange

Czech Academy of Sciences Publication Activity Database

Kopřiva, František

-, č. 365 (2008), s. 1-39 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : trading systems * informed trading * emerging markets Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp365.pdf

International competition in vertically differentiated markets with innovation and imitation: trade policy versus free trade

Czech Academy of Sciences Publication Activity Database

Kováč, Eugen; Žigić, Krešimir

2014-01-01

Roč. 81, č. 323 (2014), s. 491-521 ISSN 0013-0427 Institutional support: RVO:67985998 Keywords : model of price competition * trade policy * free trade Subject RIV: AH - Economics Impact factor: 1.045, year: 2014

Trade Costs, Conflicts, and Defense Spending

OpenAIRE

Seitz, Michael; Tarasov, Alexander; Zakharenko, Roman

2013-01-01

This paper develops a quantitative model of trade, military conflicts, and defense spending. Trade liberalization between two countries reduces probability of an armed conflict between them, causing both to cut defense spending. This in turn causes a domino effect on defense spending by other countries. As a result, both countries and the rest of the world are better off. We estimate the model using data on trade, conflicts, and military spending. We find that, after reduction of costs of tra...

Programs of financing of foreign trade ebrr and their implementation in Ukraine

OpenAIRE

Kovtonyuk, O.

2009-01-01

In the article justified the importance of IMF and Worldbank Group in the financing of international trade, and carried out the analysis of international trade projects financing, which have been implemented in Ukraine.

International competition in vertically differentiated markets with innovation and imitation: trade policy versus free trade

Czech Academy of Sciences Publication Activity Database

Kováč, E.; Žigić, Krešimir

2014-01-01

Roč. 81, č. 323 (2014), s. 491-521 ISSN 0013-0427 Institutional support: PRVOUK-P23 Keywords : model of price competition * trade policy * free trade Subject RIV: AH - Economics Impact factor: 1.045, year: 2014

Testing the theory of emissions trading. Experimental evidence on alternative mechanisms for global carbon trading

International Nuclear Information System (INIS)

Klaassen, Ger; Nentjes, Andries; Smith, Mark

2005-01-01

Simulation models and theory prove that emission trading converges to market equilibrium. This paper sets out to test these results using experimental economics. Three experiments are conducted for the six largest carbon emitting industrialized regions. Two experiments use auctions, the first a single bid auction and the second a Walrasian auction. The third relies on bilateral, sequential trading. The paper finds that, in line with the standard theory, both auctions and bilateral, sequential trading capture a significant part (88% to 99%) of the potential cost savings of emission trading. As expected from trade theory, all experiments show that the market price converges (although not fully) to the market equilibrium price. In contrast to the theory, the results also suggest that not every country might gain from trading. In both the bilateral trading experiment and the Walrasian auction, one country actually is worse off with trade. In particular bilateral, sequential trading leads to a distribution of gains significantly different from the competitive market outcome. This is due to speculative behavior, imperfect foresight and market power

Trade Liberalization and Organizational Change

OpenAIRE

Paola Conconi; Patrick Legros; Andrew F. Newman

2008-01-01

We embed a simple incomplete-contracts model of organization design in a standard two-country perfectly-competitive trade model to examine how the liberalization of product and factor markets affects the ownership structure of firms. In our model, managers decide whether or not to integrate their firms, trading off the pecuniary benefits of coordinating production decisions with the private benefits of operating in their preferred ways. The price of output is a crucial determinant of this cho...

Conflicting Perspectives in Trade and Environmental Negotiations

International Nuclear Information System (INIS)

Buchner, B.K.; Roson, R.

2002-09-01

International trade negotiations have recently tackled the issue of possible free trade restrictions, justified - among others - on the basis of environmental concerns. Also, some analyses of international environmental agreements (especially in the field of climate change) have highlighted the key role played by changes in the terms of trade in determining the cost of environmental policies. Yet, secondary effects of international trade remain disregarded in many environmental policies, whereas the introduction of environmental trade barriers has been resisted, arguing that this may hide a Trojan horse of a renewed protectionism. This paper reviews the debate on trade and the environment in the two fields of environmental and trade negotiations, highlighting the different and somewhat conflicting approach adopted in the two cases. A numerical general equilibrium model is used to illustrate how different 'perceptions' (translated in terms of alternative model closures) affect the use of instruments, the distributional impact of the various policies, and the strategic interplay between negotiators in international agreements

Conflicting Perspectives in Trade and Environmental Negotiations

Energy Technology Data Exchange (ETDEWEB)

Buchner, B.K. [Fondazione Eni Enrico Mattei FEEM, Milan (Italy); Roson, R. [Economics Department, Ca' Foscari University, Venice (Italy)

2002-09-01

International trade negotiations have recently tackled the issue of possible free trade restrictions, justified - among others - on the basis of environmental concerns. Also, some analyses of international environmental agreements (especially in the field of climate change) have highlighted the key role played by changes in the terms of trade in determining the cost of environmental policies. Yet, secondary effects of international trade remain disregarded in many environmental policies, whereas the introduction of environmental trade barriers has been resisted, arguing that this may hide a Trojan horse of a renewed protectionism. This paper reviews the debate on trade and the environment in the two fields of environmental and trade negotiations, highlighting the different and somewhat conflicting approach adopted in the two cases. A numerical general equilibrium model is used to illustrate how different 'perceptions' (translated in terms of alternative model closures) affect the use of instruments, the distributional impact of the various policies, and the strategic interplay between negotiators in international agreements.

An inventory model with a new credit drift: Flexible trade credit policy

Directory of Open Access Journals (Sweden)

Ankit Prakash Tyagi

2016-01-01

Full Text Available In most of the published articles dealing with optimal order quantity model under permissible delay in payments, it is assumed that the supplier only put forwards fully permissible delay in payments if retailer ordered a bulky sufficient quantity otherwise permissible delay in payments would not be permitted. Practically, in competitive market environments and recession phases of business, every supplier wants to attract more retailers by the help of providing good facilities for trading. Necessity of order quantity may put a negative pressure on supplier’s demand. So, within the economic order quantity (EOQ framework the main purpose of this paper is to broaden this extreme case by introducing a new credit policy, Flexible Trade Credit Policy (FTCP, for supplier which can help him provide more free space of trading to retailers. This policy, after adopting by suppliers, not only provides attractive trading environments for retailers but also enhances the demand of supplier due to the large number of new retailers. Here in, under this policy, an inventory system is investigated as a cost minimization problem to establish the retailer’s optimal inventory cycle time and optimal order quantity. Three theorems are established to describe and to lighten optimal replenishment policies for the retailer. Finally, numerical examples are considered to illustrate all these theorems and managerial insights are given based on considered numerical examples.

PENGARUH BOOKS-TAX DIFFERENCES TERHADAP INVESTOR TRADING

Directory of Open Access Journals (Sweden)

M Khoiru Rusydi

2016-04-01

Full Text Available Abstrak: Pengaruh Books-Tax Differences Terhadap Investor Trading. Penelitian ini bertujuan menguji secara empiris pengaruh pengaruh Books-Tax Differences Terhadap Investor Trading di Indonesia. Penelitian ini merupakan model kuantitatif dengan metode analisa regresi berganda, metode regresi ini di tetapkan pada perusahaan manufaktur yang terdaftar di BEI selama kurun waktu 2010-2012.Hasil penelitian ini menunjukkan Books-Tax Differences berpengaruh negatif terhadap Investor Trading / Trading Volume Activity di Indonesia, yang artinya bahwa semakin besar kesenjangan antara laba akuntansi dan laba fiskal akan mendorong investor untuk tidak melakukan aktivitas perdagangan saham perusahaan tersebut. Abstract: The influence of Books-Tax Differences to Investor Trading. This research aims to examine empirically the influence of Books- Tax Differences to Investor Trading in Indonesia. This research is a quantitative model with multiple regression analysis method, regression method is in charge in companies listed on the Stock Exchange during the period 2010- 2012. The results of this research indicate Books-Tax Differences negatively affect the Investor Trading / Trading Volume Activity in Indonesia, which means that the greater the gap between accounting profit and taxable profit will encourage investors don’t activity the company's stock trading.

Emissions trading and transaction costs : analyzing the flaws in the discussion

NARCIS (Netherlands)

Woerdman, E.

Although emissions trading lowers the costs of climate change mitigation, transaction costs (e.g. to find a trading partner) may reduce its cost-effectiveness. Some economists claim that transaction costs for Joint Implementation (JI) and Clean Development Mechanism (CDM) projects will be higher

Developments in the emissions trading market 2009; Utvecklingen paa utslaeppsraettsmarknaden 2009

Energy Technology Data Exchange (ETDEWEB)

Bohnstedt, Sophie; Karlberg, Marie; Myrman, Johanna

2010-07-01

The Energy Agency has analyzed the development of emissions trading within the EU and globally in 2009. The analysis relates to larger events which mainly affected the prices and traded volumes during the year. The analysis includes the market for European emissions, markets for the project-based mechanisms, development of trade with the assigned emission units (AAUs), the unregulated market and developments in other trading in the world. The report is based on existing studies and monitoring of markets development during January to November 2009

The hyperspectral imaging trade-off

DEFF Research Database (Denmark)

Carstensen, Jens Michael

, this will be the standard situation, and it enables the detection of small spectral features like peaks, valleys and shoulders for a wide range of chemistries. Everything else being equal this is what you would wish for, and hyperspectral imaging is often used in research and in remote sensing because of the needs and cost......Although it has no clear-cut definition, hyperspectral imaging in the UV-Visible-NIR wavelength region seems to mean spectral image sampling in bands from 10 nm width or narrower that enables spectral reconstruction over some wavelength interval. For non-imaging spectral applications...... structures in these projects. However, hyperspectral imaging is a sampling choice within spectral imaging that typically will impose some trade-offs, and these trade-offs will not be optimal for many applications. The purpose of this presentation is to point out and increase the awareness of these trade...

Baltic Pathways from Liberal Trade Model to Neo-Mercantilism in the European Union

Directory of Open Access Journals (Sweden)

Viljar Veebel

2015-09-01

Full Text Available The economic progress of the Baltic States after the restoration of independence has been closely related to the liberal ideology and values of their economies: openness to investments, simple tax system and low tax burden, liberal trade policy, and flexible labour market. Unlike the Baltic States, some of their main partners in the European Union (EU have focused on promoting their economic growth by the neo-mercantilist way of expanding exports, supported by the economic structure of these countries exporting high technology and capital goods. As a result, when the Baltic States are expecting that in a broader context the other eu member states share the same vision of the liberal market economy, their motives have not been fully understood among their regional trade and cooperation partners. Current study will debate whether the practical implementation and needs of the European neo-mercantilism meet the economic and social needs of the Baltic States. Additionally, the study focuses on the question whether in practice the Baltic countries should be ready for the European neo-mercantilist project in upcoming years.

Today's virtual water consumption and trade under future water scarcity

International Nuclear Information System (INIS)

Orlowsky, B; Gudmundsson, L; Seneviratne, Sonia I; Hoekstra, A Y

2014-01-01

The populations of most nations consume products of both domestic and foreign origin, importing together with the products the water which is expended abroad for their production (termed ‘virtual water’). Therefore, any investigation of the sustainability of present-day water consumption under future climate change needs to consider the effects of potentially reduced water availability both on domestic water resources and on the trades of virtual water. Here we use combinations of Global Climate and Global Impact Models from the ISI–MIP ensemble to derive patterns of future water availability under the RCP2.6 and RCP8.5 greenhouse gas (GHG) concentrations scenarios. We assess the effects of reduced water availability in these scenarios on national water consumptions and virtual water trades through a simple accounting scheme based on the water footprint concept. We thereby identify countries where the water footprint within the country area is reduced due to a reduced within-area water availability, most prominently in the Mediterranean and some African countries. National water consumption in countries such as Russia, which are non-water scarce by themselves, can be affected through reduced imports from water scarce countries. We find overall stronger effects of the higher GHG concentrations scenario, although the model range of climate projections for single GHG concentrations scenarios is in itself larger than the differences induced by the GHG concentrations scenarios. Our results highlight that, for both investigated GHG concentration scenarios, the current water consumption and virtual water trades cannot be sustained into the future due to the projected patterns of reduced water availability. (letter)

Renewable energy and Scottish trading arrangements

International Nuclear Information System (INIS)

2001-01-01

This report summarises the findings of a project involving the participation of the Scottish Renewables Forum (SRF) in the ongoing Ofgem consultation process concerning the future electricity trading arrangements in Scotland. The present administrative arrangements, the activities of the SRF, the prospects for the British Electricity Trading and Transmission Arrangements (BETTA), generator connection policy, and transmission access are discussed, and an overview of consultations relating to Scotland-England interconnection access is presented. The appendices cover the SRF responses to the Ofgem consultation, a discussion paper in advance of the SRF meeting with Ofgem in April 2001, an SRF trading update, the SRF's responses to Ofgem's Environmental Action Plan, the Scottish Embedded Generators Working Group's terms of reference and draft paper on issues, and a briefing on prices in administered arrangements

Sustainable Trade Credit and Replenishment Policies under the Cap-And-Trade and Carbon Tax Regulations

Directory of Open Access Journals (Sweden)

Juanjuan Qin

2015-12-01

Full Text Available The paper considers the sustainable trade credit and inventory policies with demand related to credit period and the environmental sensitivity of consumers under the carbon cap-and-trade and carbon tax regulations. First, the decision models are constructed under three cases: without regulation, carbon cap-and-trade regulation, and carbon tax regulation. The optimal solutions of the retailer in the three cases are then discussed under the exogenous and endogenous credit periods. Finally, numerical analysis is conducted to obtain conclusions. The retailer shortens the trade credit period as the environmental sensitivity of the consumer is enhanced. The cap has no effects on the credit period decisions under the carbon cap-and-trade regulation. Carbon trade price and carbon tax have negative effects on the credit period. The retailer under carbon cap-and-trade regulation is more motivated to obey regulations than that under carbon tax regulation when carbon trade price equals carbon tax. Carbon regulations have better effects on carbon emission reduction than with exogenous credit term when the retailer has the power to decide with regards credit policies.

Anonymous electronic trading versus floor trading

OpenAIRE

Franke, Günter; Hess, Dieter

1995-01-01

This paper compares the attractiveness of floor trading and anonymous electronic trading systems. It is argued that in times of low information intensity the insight into the order book of the electronic trading system provides more valuable information than floor trading, but in times of high information intensity the reverse is true. Thus, the electronic system's market share in trading activity should decline in times of high information intensity. This hypothesis is tested by data on BUND...

Integration, Disintegration and Trade in Europe : Evolution of Trade Relations during the 1990s

NARCIS (Netherlands)

Fidrmuc, J.; Fidrmuc, J.

2000-01-01

The gravity model of trade is used to assess the economic consequences of new borders, which arose in the wake of break-ups of multinational federations in Eastern Europe. The intensity of trade relations among the constituent parts of Czechoslovakia, Soviet Union and the Baltics was very high

Source of information-driven trading on the Prague Stock Exchange

Czech Academy of Sciences Publication Activity Database

Kopřiva, František

-, č. 365 (2008), s. 1-39 ISSN 1211-3298 R&D Projects: GA ČR(CZ) GA402/08/1376; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : trading systems * informed trading * emerging markets Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp365.pdf

What Goods Do Countries Trade? New Ricardian Predictions

OpenAIRE

Arnaud Costinot; Ivana Komunjer

2007-01-01

Though one of the pillars of the theory of international trade, the extreme predictions of the Ricardian model have made it unsuitable for empirical purposes. A seminal contribution of Eaton and Kortum (2002) is to demonstrate the stochastic productivity differences at the firm-level are sufficient to make the Ricardian model empirically relevant. While successful at explaining trade volumes, their model remains silent with regards to one important question: What goods do countries trade? ...

What Good Do Countries Trade? New Ricardian Predictions

OpenAIRE

Costinot, Arnaud; Komunjer, Ivana

2006-01-01

Though one of the pillars of the theory of international trade, the extreme predictions of the Ricardian model have made it unsuitable for empirical purposes. A seminal contribution of Eaton and Kortum (2002) is to demonstrate that random productivity shocks are sufficient to make the Ricardian model empirically relevant. While successful at explaining trade volumes, their model remains silent with regards to one important questions: What goods to countries trade? Our main contribution is...

Commodities Trading: An Essential Economic Tool.

Science.gov (United States)

Welch, Mary A., Ed.

1989-01-01

This issue focuses on commodities trading as an essential economic tool. Activities include critical thinking about marketing decisions and discussion on how futures markets and options are used as important economic tools. Discussion questions and a special student project are included. (EH)

The Outlier Sectors: Areas of Non-Free Trade in the North American Free Trade Agreement

OpenAIRE

Eric T. Miller

2002-01-01

Since its entry into force, the North American Free Trade Agreement (NAFTA) has been enormously influential as a model for trade liberalization. While trade in goods among Canada, the United States and Mexico has been liberalized to a significant degree, this most famous of agreements nonetheless contains areas of recalcitrant protectionism. The first part of this paper identifies these "outlier sectors" and classifies them by primary source advocating protectionism, i.e., producer interests ...

Balance of trade and government intervention — Japan as a role model?

OpenAIRE

Schnabl, Gunther

1996-01-01

Japan's industrial and trade policies are often seen as the reason for high Japanese balance of trade surpluses. Does this theory stand up to a close examination of the relationships between balance of trade, trade policy and structural change?

Welfare-Reducing Trade Liberalization

DEFF Research Database (Denmark)

Schröder, Philipp J.H.; Jørgensen, Jan G.

Recent literature on the workhorse model of intra-industry trade has explored heterogeneous cost structures at the firm level. These approaches have proven to add realism and predictive power. This note shows, however, that this added realism also implies that there may exist a positive bilateral...... tariff that maximizes national and world welfare. Applying one of the simplest specifications possible, namely a symmetric two-country intra-industry trade model with fixed export costs that are heterogeneous across firms, we find that the reciprocal reduction of small tariffs reduces welfare. We explore...

Welfare-Reducing Trade Liberalization

DEFF Research Database (Denmark)

Schröder, Philipp J.H.; Jørgensen, Jan G.

Recent literature on the workhorse model of intra-industry trade has explored heterogeneous cost structures at the firm level. These approaches have proven to add realism and predictive power. This paper shows, however, that this added realism also implies that there may exist a positive bilateral...... tariff that maximizes national and world welfare. Applying one of the simplest specifications possible, namely a symmetric two-country intra-industry trade model with fixed export costs that are heterogeneous across firms, we find that the reciprocal reduction of small tariffs reduces welfare....

Trade Facilitation Indicators and their Potential Impact on Trade Between the Countries of South-Eastern Europe

Directory of Open Access Journals (Sweden)

Toševska-Trpčevska Katerina

2016-11-01

Full Text Available In this paper we base our analysis on previous OECD findings and analysis of trade facilitation indicators for assessing relative economic and trade impact of specific trade facilitation measures for the countries of South-Eastern Europe. In the analysis we plan to include all CEFTA-2006 members, except Moldova, and other countries which are part of this region: Bulgaria, Romania and Greece. We plan to construct twelve trade facilitation indicators (TFIs that correspond to the main policy areas under negotiations at the WTO. The indicators are composed from seventy-eight variables, whose values are drawn from publicly available data. We plan to use these indicators in gravity model in order to estimate the impact of those policy areas on trade volumes between the countries of the region. The use of individual trade facilitation indicators should also enable countries to better assess which trade facilitation measures deserve priority.

Environmental pollution and world trade

International Nuclear Information System (INIS)

Batra, Ravi; Beladi, Hamid; Frasca, Ralph

1998-01-01

In this paper we present a model that highlights the relationship between international trade and environmental pollution. It includes a small open economy that produces a domestic composite good and imports another composite good and energy products. The pollution is created by local production, global production and transportation. Given this model we demonstrate that free trade within the current political and economic context may produce a suboptimal level of welfare. The rationale is based upon the argument that transportation is energy-intensive and that, therefore, trade itself is a source of pollution. Consequently, under certain global conditions the introduction of an energy tariff in a small open economy raises social welfare and is superior to free trade. A consumption tariff adopted by a single nation will not have similar consequences because it has no impact upon local usage. However, when a consumption tariff is globally adopted there is the opportunity for a net benefit. Finally, we argue that a global tariff that raises both the price of energy and the price of the imported composite good may generate the greatest increase in welfare by reducing both energy-intensive production and energy-intensive trade

Environmental pollution and world trade

Energy Technology Data Exchange (ETDEWEB)

Batra, Ravi [Department of Economics, Southern Methodist University, Dallas, TX 75275-0496 (United States); Beladi, Hamid; Frasca, Ralph [Department of Economics and Finance, University of Dayton, Dayton, OH 45469-2240 (United States)

1998-11-01

In this paper we present a model that highlights the relationship between international trade and environmental pollution. It includes a small open economy that produces a domestic composite good and imports another composite good and energy products. The pollution is created by local production, global production and transportation. Given this model we demonstrate that free trade within the current political and economic context may produce a suboptimal level of welfare. The rationale is based upon the argument that transportation is energy-intensive and that, therefore, trade itself is a source of pollution. Consequently, under certain global conditions the introduction of an energy tariff in a small open economy raises social welfare and is superior to free trade. A consumption tariff adopted by a single nation will not have similar consequences because it has no impact upon local usage. However, when a consumption tariff is globally adopted there is the opportunity for a net benefit. Finally, we argue that a global tariff that raises both the price of energy and the price of the imported composite good may generate the greatest increase in welfare by reducing both energy-intensive production and energy-intensive trade

NOx emissions trading: Precursor to future growth

International Nuclear Information System (INIS)

Colella, A.

1993-01-01

Title I of the Clean Air Act Amendments (CAAA) of 1990 specified the framework for enhanced regulation in ozone non-attainment areas with increasingly stringent requirements dependent on the area classification - marginal, moderate, serious, severe or extreme. Before the CAAA were passed, only volatile organic compounds (VOCs) were regulated as precursors to ozone formation, Now, by statute, emissions of nitrogen oxides (NO x ) are also regulated as ozone precursor. Under the CAAA, new sources and modifications of existing sources are subject to Title I permitting requirements in ozone non-attainment areas if emissions of NO x and/or VOCs exceed certain triggering levels. For many new or facility expansion projects, especially power generation, the NO x thresholds are easily exceeded thus triggering Title I non-attainment new source review which requires application of control technology to new equipment which results in the Lowest Achievable Emission Rate (LAER), and securing emission reductions either internally or from other major sources to offset the increased emission from the new or modified source. The selection of a LAER technology is generally within an applicant's control. An applicant can determine up-front the engineering and cost considerations associated with LAER technology is assessing a project's viability. However, without a clear source of emission offsets of a means to secure them, assessing project viability could be difficult if not impossible. No available emission offsets means no industrial growth. For sources of NO x undergoing Title I new source review, a regional or state banking system that facilitates NO x emissions trading is needed as a precursor to future growth. This paper presents an overview of EPA's Emissions Trading Policy and Title I new source review offset provisions. Industry's concerns about emissions trading and recommendations for future trading programs are presented

Fair Trade - is it really fair?

Czech Academy of Sciences Publication Activity Database

Konečný, Tomáš; Mysliveček, Jan

-, č. 367 (2008), s. 1-53 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : Fair Trade * coffee * price setting Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp367.pdf

Multi-Period Trading via Convex Optimization

DEFF Research Database (Denmark)

Boyd, Stephen; Busseti, Enzo; Diamond, Steve

2017-01-01

We consider a basic model of multi-period trading, which can be used to evaluate the performance of a trading strategy. We describe a framework for single-period optimization, where the trades in each period are found by solving a convex optimization problem that trades off expected return, risk......, transaction cost and holding cost such as the borrowing cost for shorting assets. We then describe a multi-period version of the trading method, where optimization is used to plan a sequence of trades, with only the first one executed, using estimates of future quantities that are unknown when the trades....... In this paper, we do not address a critical component in a trading algorithm, the predictions or forecasts of future quantities. The methods we describe in this paper can be thought of as good ways to exploit predictions, no matter how they are made. We have also developed a companion open-source software...

Fiscal 1999 technical survey report. Basic project on international cooperation on energy consumption improvement, etc. (Japan International Cooperation Center project on promotion of exchange of specialists); 1999 nendo kokusai energy shohi koritsuka nado kyoryoku kiso jigyo / kokusai energy shohi koritsuka chosa nado kyoryoku kiso jigyo chosa hokokusho. Kokusai kyoryoku center jigyo suishin senmonka koryu sokushin jigyo

Energy Technology Data Exchange (ETDEWEB)

NONE

2000-09-01

Specialist related to the governments of Thailand, Malaysia, and Indonesia where NEDO (New Energy and Industrial Technology Development Organization) implements its model projects were invited. They exchanged opinions with officials of the Japanese Government and affiliated organizations over measures for effective energy utilization. Opinions were also exchanged over the response of energy-consuming industries, development of technologies, and the status of their adoption. Activities of government-related participants are described below. Under a Model Project for Utilization of Waste Heat from Incineration of Industrial Waste at Industrial Estate, five Thai people with Industrial Estate of Thailand visited Ministry of International Trade and Industry, NEDO, NKK Corporation, Toyota Motor Corporation, and Keiyo Food Industrial Park. Under a model project on the recovery of waste heat from paper sludge incineration, four Malaysian people with Ministry of Energy, Communications and Multimedia or with Energy Center visited Ministry of International Trade and Industry, NEDO, NKK Corporation, Toyota Motor Corporation, and Japan Paperboard Industries Co., Ltd. Under a model project on the utilization of paper sludge and solid waste, four Indonesian people with Ministry of Industry and Trade or with Ministry of Mines and Energy visited Ministry of International Trade and Industry, NEDO, Babcock-Hitachi K.K., and Oji Paper Co., Ltd. (NEDO)

Current Trends in Foreign Trade Theory and Policy

Directory of Open Access Journals (Sweden)

Zdzisław W. Puślecki

2017-12-01

Full Text Available In this research work, Author focus on the current analysis trends in foreign trade theory and policy. Accordance with the foreign trade policy theory further trade liberalisation and improved framework policies would increase trade and promote growth. It must be emphasized that openness to trade is associated with higher incomes and growth and there is the need for new approaches to trade cooperation in light of the forces that are currently re-shaping international business. What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests. First of all, it must underline that in the new theoretical terms in demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region’s economy. On the other hand, some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region’s economy but are industry specific. The main objective of the research task is to give a comprehensive analysis of current trends in foreign trade theory and policy and in particular models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, foreign trade policy in different types of authoritarian regimes, protectionist pressures in different political system, the level of protectionist pressures, the tendencies to bilateralism in the foreign trade policy. It should be stressed that free trade in itself is not responsible for economic growth, but more significant are the determining macroeconomic stability and increasing investment.

Modelling the introduction and spread of non-native species: international trade and climate change drive ragweed invasion.

Science.gov (United States)

Chapman, Daniel S; Makra, László; Albertini, Roberto; Bonini, Maira; Páldy, Anna; Rodinkova, Victoria; Šikoparija, Branko; Weryszko-Chmielewska, Elżbieta; Bullock, James M

2016-09-01

Biological invasions are a major driver of global change, for which models can attribute causes, assess impacts and guide management. However, invasion models typically focus on spread from known introduction points or non-native distributions and ignore the transport processes by which species arrive. Here, we developed a simulation model to understand and describe plant invasion at a continental scale, integrating repeated transport through trade pathways, unintentional release events and the population dynamics and local anthropogenic dispersal that drive subsequent spread. We used the model to simulate the invasion of Europe by common ragweed (Ambrosia artemisiifolia), a globally invasive plant that causes serious harm as an aeroallergen and crop weed. Simulations starting in 1950 accurately reproduced ragweed's current distribution, including the presence of records in climatically unsuitable areas as a result of repeated introduction. Furthermore, the model outputs were strongly correlated with spatial and temporal patterns of ragweed pollen concentrations, which are fully independent of the calibration data. The model suggests that recent trends for warmer summers and increased volumes of international trade have accelerated the ragweed invasion. For the latter, long distance dispersal because of trade within the invaded continent is highlighted as a key invasion process, in addition to import from the native range. Biosecurity simulations, whereby transport through trade pathways is halted, showed that effective control is only achieved by early action targeting all relevant pathways. We conclude that invasion models would benefit from integrating introduction processes (transport and release) with spread dynamics, to better represent propagule pressure from native sources as well as mechanisms for long-distance dispersal within invaded continents. Ultimately, such integration may facilitate better prediction of spatial and temporal variation in invasion

Time-Space Trade-Offs

DEFF Research Database (Denmark)

Pagter, Jakob Illeborg

. The area of time-space trade-offs deals with both upper and lower bounds and both are interesting, theoretically as well as practically. The viewpoint of this dissertation is theoretical, but we believe that some of our results can find applications in practice as well. The last four years has witnessed...... perspective hierarchical memory layout models are the most interesting. Such models are called external memory models, in contrast to the internal memory models discussed above. Despite the fact that space might be of great relevance when solving practical problems on real computers, no theoretical model...... capturing space (and time simultaneously) has been defined. We introduce such a model and use it to prove so-called IOspace trade-offs for Sorting. Building on the abovementioned techniques for time-space efficient internal memory Sorting, we develop the first IO-space efficient external memory Sorting...

Guidelines For Evaluation Of Natural Gas Projects

International Nuclear Information System (INIS)

Farag, H.; El Messirie, A.

2004-01-01

This paper is objected to give guidelines for natural gas projects appraisal These guidelines are summarized in modeling of natural gas demand forecast and energy pricing policies for different gas consumers mainly in the manufacturing, mining, transport, trade and agriculture sectors. Analysis of the results is made through sensitivity analysis and decision support system ( DSS )

Fixed export cost heterogeneity, trade and welfare

DEFF Research Database (Denmark)

Jørgensen, Jan Guldager; Schröder, Philipp J.H.

2008-01-01

-country intra-industry trade model where firms are of two different marginal costs types and where fixed export costs are heterogeneous across firms. This model traces many of the stylized facts of international trade. However, we find that with heterogeneous fixed export costs there exists a positive bilateral...

Strategic Interaction and International Trade: The case of the Steel Industry

Directory of Open Access Journals (Sweden)

Eui-Hyun Choi

2000-06-01

Full Text Available The purpose of this study is to analyze strategic interaction and intra-industry trade. We derive an oligopolistic model of intra-industry trade, which is initially proposed by Brander(1981. Until now there were many studies on intra-industry trade, however empirical literature on intra-industry trade has evolved independently of the theoretical literature. In this study, a theory-based empirical analysis of intra-industry trade in a oligopolistic market will be conducted instead of in a monopolistic competition market. The empirical implications of the multi-country Cournot model are investigated in context of intra-industry trade in the steel industry. Despite the fact that not all assumptions induced from Brander model may be satisfies, the empirical results indicated that the effects of the cost structure and market size variables on the intensity of intra-industry trade are in accordance with what the theory suggests. The fact that intra-industry trade exists in disaggregate products, and these trade patterns are more characterized by the Cournot competition, strengthens Brander's model.

Quantitative Model of Price Diffusion and Market Friction Based on Trading as a Mechanistic Random Process

Science.gov (United States)

Daniels, Marcus G.; Farmer, J. Doyne; Gillemot, László; Iori, Giulia; Smith, Eric

2003-03-01

We model trading and price formation in a market under the assumption that order arrival and cancellations are Poisson random processes. This model makes testable predictions for the most basic properties of markets, such as the diffusion rate of prices (which is the standard measure of financial risk) and the spread and price impact functions (which are the main determinants of transaction cost). Guided by dimensional analysis, simulation, and mean-field theory, we find scaling relations in terms of order flow rates. We show that even under completely random order flow the need to store supply and demand to facilitate trading induces anomalous diffusion and temporal structure in prices.

Sustainability of Trade Liberalization and Antidumping: Evidence from Mexico’s Trade Liberalization toward China

Directory of Open Access Journals (Sweden)

Yi Liu

2015-08-01

Full Text Available A Negative Binomial Regression Model is used to investigate the sustainability of China–Mexico trade liberalization by testing the tariff lines underpinning Mexico’s successful antidumping (AD measures against Chinese imports from 1991 to 2011. Evidence shows import tariff cutting and consumption growth have a positive impact on consumer goods but a negative impact on intermediaries. This result implies that while the Mexican government has expended considerable energy on the trade liberalization of intermediate and capital goods, the domestic consumer goods market has been protected from Chinese imports. The empirical results indicate that Mexico’s AD use for consumer goods helps to sustain trade liberalization of intermediate and capital goods under the domestic political pressures for trade opening.

Measuring performance at trade shows

DEFF Research Database (Denmark)

Hansen, Kåre

2004-01-01

Trade shows is an increasingly important marketing activity to many companies, but current measures of trade show performance do not adequately capture dimensions important to exhibitors. Based on the marketing literature's outcome and behavior-based control system taxonomy, a model is built...... that captures a outcome-based sales dimension and four behavior-based dimensions (i.e. information-gathering, relationship building, image building, and motivation activities). A 16-item instrument is developed for assessing exhibitors perceptions of their trade show performance. The paper presents evidence...

VIRTUAL REALITY-BASED CLOUD BIM PLATFORM FOR INTEGRATED AEC PROJECTS

OpenAIRE

Goulding, Jack Steven; Pour Rahimian Leilabadi, Farzad; Wang, Xiangyu

2014-01-01

Building Information Modelling (BIM) has demonstrated the need for integrating collaborative design teams’ “project data”, to not only help coordinate the design, engineering, fabrication, construction, and maintenance of various trades, but also facilitate project integration and interchange. Numerous potential benefits have inspired several countries to consider the implications of implementing BIM Level 3 (Cloud) as an innovative way of further enhancing the design, management and delivery...

Competency model for the project managers of technical projects

Science.gov (United States)

Duncan, William R.

1992-05-01

Traditional job description techniques were developed to support compensation decisions for hourly wage earners in a manufacturing environment. Their resultant focus on activities performed on the job works well in this environment where the ability to perform the activity adequately is objectively verifiable by testing and observation. Although many organizations have adapted these techniques for salaried employees and service environments, the focus on activities performed has never been satisfactory. For example, stating that a project manager `prepares regular project status reports' tells us little about what to look for in a potential project manager or how to determine if a practicing project manager is ready for additional responsibilities. The concept of a `competency model' has been developed within the last decade to address this shortcoming. Competency models focus on what skills are needed to perform the tasks defined by the job description. For example, a project manager must be able to communicate well both orally and in writing in order to `prepare regular project status reports.'

Subtask 1.18 - A Decision Tool for Watershed-Based Effluent Trading

Energy Technology Data Exchange (ETDEWEB)

Xixi Wang; Bethany A. Kurz; Marc D. Kurz

2006-11-30

Handling produced water in an economical and environmentally sound manner is vital to coalbed methane (CBM) development, which is expected to increase up to 60% in the next 10-15 years as the demand for natural gas increases. Current produced water-handling methods (e.g., shallow reinjection and infiltration impoundments) are too costly when implemented on a well-by-well basis. A watershed-based effluent credit trading approach may be a means of managing produced water at reduced cost while meeting or surpassing water quality regulations. This market-based approach allows for improved water quality management by enabling industrial, agricultural, and municipal discharge facilities to meet water quality permit requirements by purchasing pollutant reduction credits from other entities within the same watershed. An evaluation of this concept was conducted for the Powder River Basin (PRB) of Montana and Wyoming by the Energy & Environmental Research Center (EERC). To conduct this assessment, the EERC collected and evaluated existing water quality information and developed the appropriate tools needed to assess the environmental and economic feasibility of specific trading scenarios. The accomplishments of this study include (1) an exploration of the available PRB water quantity and quality data using advanced statistical techniques, (2) development of an integrated water quality model that predicts the impacts of CBM produced water on stream salinity and sodicity, (3) development of an economic model that estimates costs and benefits from implementing potential trading options, (4) evaluation of hypothetical trading scenarios between select watersheds of the PRB, and (5) communication of the project concept and results to key state and federal agencies, industry representatives, and stakeholders of the PRB. The preliminary results of a basinwide assessment indicate that up to $684 million could be saved basinwide without compromising water quality as a result of

Competitive advantage for differentiation of Pereira International Free Trade Zone

Directory of Open Access Journals (Sweden)

Paola Andrea Echeverri Gutiérrez

2014-01-01

Full Text Available The best way to know if a company is at the heart of success is by determining its competitive advantage. For Pereira International Free Trade Zone, foreign trade platform and recent project implementation, it is important to identify its competitive advantage, so it can develop strategies for entering and staying in the market. In this research, an analysis of the five forces industry free zones was performed, the value chain of the Pereira International Free Trade Zone was defined, finally the factors that influence their competitive advantage was determined.

Trading volume and the number of trades

OpenAIRE

Marwan Izzeldin

2007-01-01

Trading volume and the number of trades are both used as proxies for market activity, with disagreement as to which is the better proxy for market activity. This paper investigates this issue using high frequency data for Cisco and Intel in 1997. A number of econometric methods are used, including GARCH augmented with lagged trading volume and number of trades, tests based on moment restrictions, regression analysis of volatility on volume and trades, normality of returns when standardized by...

Limiting overselling in international emissions trading 1: Costs and environmental impacts of alternative proposals

Energy Technology Data Exchange (ETDEWEB)

Haites, E.; Missfeldt, F.

2002-07-01

Emission trading allows a country with an emission limitation commitment, an Annex B Party, to sell parts of its assigned amount (AAUs) to other Annex B Parties. If the seller subsequently does not have sufficient AAUs to cover its actual emissions it will be subject to the penalties for non-compliance. The revenue from the sale of AAUs may exceed the sanctions for non-compliance if these penalties are weak or difficult to enforce. Under these circumstances emission trading enables a country to benefit financially through non-compliance. Liability proposals seek to ensure that non-compliance is not rewarded, by limiting sales of AAUs to amounts surplus to the seller's compliance needs. This study develops and applies a model to assess the performance of different liability proposals. A simple model based on the Emissions Projection and Policy Analysis (EPPA) model of the Massachusetts Institute of Technology is used for the analysis. (BA)

Sustaining the emerging carbon trading industry development: A business ecosystem approach of carbon traders

International Nuclear Information System (INIS)

Hu, Guangyu; Rong, Ke; Shi, Yongjiang; Yu, Jing

2014-01-01

This paper explores how carbon traders nurture the business ecosystem to sustain the emerging carbon trading industry development. We collected primary data from a multinational carbon trader and its ecosystem partners in China, through the construction of interviews and documentary. The research findings show the carbon trading industry has experienced four-stage evolution with different driving forces; the carbon trader attracted and organized ecosystem partners to facilitate the CDM project owners to create carbon credits and trade them; a systematic business ecosystems approach through the lens of Context, Cooperation and Configuration, initiated by carbon traders, has facilitated the industry development. Our findings also implicate to industrial practitioners and policymakers for sustaining the emerging industry development at both the current- and the post-Kyoto protocol periods. - Highlights: • The carbon trader is a catalyst to link CDM project owner and trading market in China • The evolution of carbon trading industry has four stages with various driving forces. • Nurturing business ecosystems facilitates the carbon trading industry development. • The ecosystem approach works via the lens of Context, Configuration and Cooperation. • The ecosystem approach implicates to carbon trading industry at the post-Kyoto era

Voluntary emission trading potential of Turkey

International Nuclear Information System (INIS)

Ari, İzzet

2013-01-01

Climate change is likely to cause serious market failures, and carbon trading as a market instrument can help correct its negative impacts. The global carbon markets established to combat climate change include regulatory and voluntary markets. Turkey cannot utilise regulatory carbon markets under the Kyoto Protocol. As a result of her unique position in the UNFCCC, some offsetting projects in Turkey have benefitted only voluntary emission trading for the reduction of GHG emissions. Due to on-going climate change negotiation under the UNFCCC, it seems that Turkey will not use the current regulatory carbon markets. Thus, Turkey should promote the use of and participation in voluntary carbon markets. In this article, emission reduction potential via energy efficiency, renewable energy and solid waste management, and corresponding offsetting of credits with their estimated prices is investigated for the period between 2013 and 2020. The emission reduction potential for energy efficiency, renewable energy and solid waste management projects are estimated at 403, 312 and 356 million tons of CO 2 equivalent emissions respectively, totalling 1,071 million tons of CO 2 equivalent. The total revenue of the carbon certificates are estimated in the range of 19,775–33,386 million US Dollars for the same period. -- Highlights: •Turkey has 1,071 million tons GHG emission reduction in three sectors for 2013–2020. •Turkey can only use voluntary emission trading for reduction of GHGs. •Total revenue estimation could be between 19,775 and 33,386 million US Dollars. •Turkey's economy and emissions have been rapidly growing. •Turkey can more easily reduce its emission by using voluntary emission trading

An optimal control model for reducing and trading of carbon emissions

Science.gov (United States)

Guo, Huaying; Liang, Jin

2016-03-01

A stochastic optimal control model of reducing and trading for carbon emissions is established in this paper. With considerations of reducing the carbon emission growth and the price of the allowances in the market, an optimal policy is searched to have the minimum total costs to achieve the agreement of emission reduction targets. The model turns to a two-dimension HJB equation problem. By the methods of reducing dimension and Cole-Hopf transformation, a semi-closed form solution of the corresponding HJB problem under some assumptions is obtained. For more general cases, the numerical calculations, analysis and comparisons are presented.

Regional Trade Agreement and Agricultural Trade in East African ...

African Journals Online (AJOL)

Intra-EAC trade is very low, that is, at 9 per cent of the total regional trade, but it is on upward trend. Agricultural trade accounts for over 40 per cent of the intra-EAC trade. This study investigated the effect of EAC regional trade agreement on the regions agricultural trade by analyzing the degree of trade creation and ...

Trade creation and trade diversion in the Canada - United States Free Trade Agreement

OpenAIRE

Kimberly A. Clausing

2001-01-01

In this paper the changes in trade patterns introduced by the Canada-United States Free Trade Agreement are examined. Variation in the extent of tariff liberalization under the agreement is used to identify the impact of tariff liberalization on the growth of trade both with member countries and non-member countries. Data at the commodity level are used, and the results indicate that the Canada-United States Free Trade Agreement had substantial trade creation effects, with little evidence of ...

Electricity trade: Generating benefits for British Columbians

International Nuclear Information System (INIS)

1994-01-01

Electricity has been traded in British Columbia since the turn of the century. In 1988, the provincial government established the British Columbia Power Exchange Corporation (Powerex) to conduct electricity trade activities in order to make the most efficient use of the electrial system and generate benefits for British Columbians. The trade is made possible by an interconnected system linking producers and consumers in western Canada and the USA. Provincial participants in the trade include British Columbia Hydro, independent power producers, and cogenerators. Benefits of the electricity trade include generation of revenue from sale of surplus power, being able to buy electricity when the mainly hydroelectric provincial system is in a drought condition or when major shutdowns occur, and enabling postponement of development of new power projects. Powerex conducts its trade under provincial and federal permits and licenses. Different types of trade contracts are negotiated depending on the amount and availability of electricity and the kind of trade being conducted. Exchanges and coordination agreements allow transfer and return between utilities with no net export occurring, allowing balancing of loads between different reigons. Surplus electricity is bought or sold on a short- or long-term basis and on firm or non-firm terms. Electricity exports are not subsidized and are only allowed if the electricity is surplus to provincial needs and can be sold at a profit. A new provincial policy allows private industry to export long-term firm electricity; this involves construction of new private-sector generating facilities solely for the purpose of export. 1 fig

Systematic Trading: Calibration Advances through Machine Learning

OpenAIRE

Alvarez Teleña, S.

2015-01-01

Systematic trading in finance uses computer models to define trade goals, risk controls and rules that can execute trade orders in a methodical way. This thesis investigates how performance in systematic trading can be crucially enhanced by both i) persistently reducing the bid-offer spread quoted by the trader through optimized and realistically backtested strategies and ii) improving the out-of-sample robustness of the strategy selected through the injection of theory into the typically dat...

When is public enforcement of insider trading regulations effective?

NARCIS (Netherlands)

Wielhouwer, J.L.

2013-01-01

In this paper we investigate when public enforcement of insider trading regulations reduces the amount of insider trading. We model a game between a potentially self-interested regulator enforcing insider trading laws and a trader who may be trading on inside information. We show that equilibrium

A primer for trading greenhouse gas reductions from landfills

International Nuclear Information System (INIS)

2000-06-01

This introductory level primer on domestic greenhouse gas emissions trading addresses the challenge of dealing with landfill gas emissions of carbon dioxide (CO 2 ) and methane (CH 4 ). It describes the first major emissions trading projects in Canada, the Pilot Emission Reduction Trading (PERT) and the Greenhouse Gas Emission Reduction Trading (GERT) pilot projects which calculate and document the GHG emission reductions that are available from landfill sites. PERT initially focused on nitrogen oxides, volatile organic compounds, carbon monoxide, sulphur dioxide and carbon dioxide. PERT uses the Clean Air Emission Reduction Registry for its emissions trading. Canada completed negotiations of the Kyoto Protocol in December 1997 along with 160 other countries. Upon ratification, Canada will commit to reducing 6 greenhouse gases by 6 per cent below 1990 levels in the period 2008 to 2012. Canada has recognized that it must reduce domestic greenhouse gas emissions to slow global warming which leads to climate change. It has been shown that the capture and destruction of landfill gas can profoundly contribute to meeting the target. One tool that can be used to help meet the objective of reducing GHG emissions is domestic GHG emission trading, or carbon trading, as a result of landfill gas capture and flaring. Landfill gas is generally composed of equal parts of carbon dioxide and methane with some other trace emissions. Accounting for quantities of greenhouse gas emissions is done in equivalent tonnes of carbon dioxide where one tonne of methane reduction is equivalent to 21 tonnes of carbon dioxide in terms of global warming potential. Organics in landfills which lead to the generation of methane are considered to be coming from renewable biomass, therefore, the collection and combustion of landfill gas is also considered to reduce GHG emissions from landfills by 100 per cent on a global basis. Destroying landfill gases can also reduce volatile organic compounds, which

Trade Policy

OpenAIRE

Murray Gibbs

2007-01-01

In an otherwise insightful and thoughtful article, Sebastian Pfotenhauer (Trade Policy Is Science Policy,” Issues, Fall 2013) might better have entitled his contribution “Trade Policy Needs to Be Reconciled with Science Policy.” The North American Free Trade Agreement (NAFTA) and the agreements administered by the World Trade Organization, particularly the General Agreement on Tariffs and Trade (GATT) and the Technical Barriers to Trade (TBT), were adopted to promote international trade and i...

Beyond theory : Towards a probabilistic causation model to support project governance in infrastructure projects

NARCIS (Netherlands)

Chivatá Cárdenas, Ibsen; Voordijk, Johannes T.; Dewulf, Geert

2017-01-01

A new project governance model for infrastructure projects is described in this paper. This model contains causal mechanisms that relate a number of project governance variables to project performance. Our proposed model includes relevant variables for measuring project governance in construction

An Entropic Approach for Pair Trading

Directory of Open Access Journals (Sweden)

Daisuke Yoshikawa

2017-06-01

Full Text Available In this paper, we derive the optimal boundary for pair trading. This boundary defines the points of entry into or exit from the market for a given stock pair. However, if the assumed model contains uncertainty, the resulting boundary could result in large losses. To avoid this, we develop a more robust strategy by accounting for the model uncertainty. To incorporate the model uncertainty, we use the relative entropy as a penalty function in the expected profit from pair trading.

CLASSIFICATION AND COMPLEX STATE VALUE OF SHOPPING CENTERS: PROJECT-ORIENTED APPROACH

Directory of Open Access Journals (Sweden)

Юрій Павлович РАК

2016-02-01

Full Text Available Was done the analysis of projects objects of trade and entertainment centers from the perspective of improving the life safety and is proposed the definition of "Trade and entertainment center", "Trade and entertainment center" and "Complex value of trade and entertainment center." A classification of shopping centers on the classification criteria and the criteria are characterized by increased security status and attractiveness of their operation. The classification of trade and entertainment centers on the criteria of classification features were made. It characterizes the security situation and will increase the attractiveness of their operation. In the nearest future the most secure and modern TEC will be those buildings who will have unique qualities such as safety systems, excellent customer service, and thus by a high level of trust (the client to the mall. The important role will play those TEC, who have clearly formed value oriented project management, including communication values using innovative methods and models. Trade and entertainment centers as an organization are included in the complex process of interaction management. They being both as an enterprise that serves the public and satisfying a great range of his interests and architectural site, which is leased and increases the business attractiveness of the district of TEC location. This duality of the essence of TEC center makes difficult to assess the effectiveness of its security.

Effects of Free Trade Agreements on Foreign Trade: Predictions for Puerto Rico in the face of CAFTA-DR

Directory of Open Access Journals (Sweden)

José E. Signoret

2006-10-01

Full Text Available This paper examines the effects of regional free trade agreements on international trade activity. The analysis estimates gravity models of trade that serve to assess the likely impact of CAFTA-DR on Puerto Rico and United States’ foreign trade. The estimated effects of CAFTA-DR on the US are invariably modest. For the case of Puerto Rico, the effects are of considerably larger importance, albeit still somewhat small. The inclusion of the Dominican Republic into the Agreement, however, is critical for these latter results.

International provision of trade services, trade, and fragmentation

OpenAIRE

Deardorff, Alan V.

2001-01-01

The author examines the special role that trade liberalization in services industries can play in stimulating trade in both services, and goods. International trade in goods requires inputs from such trade services as transportation, insurance, and finance, for example. Restrictions on services across borders, and within foreign countries add costs, and barriers to international trade. Lib...

US Food Security and Climate Change: Mid-Century Projections of Commodity Crop Production by the IMPACT Model

Science.gov (United States)

Takle, E. S.; Gustafson, D. I.; Beachy, R.; Nelson, G. C.; Mason-D'Croz, D.; Palazzo, A.

2013-12-01

Agreement is developing among agricultural scientists on the emerging inability of agriculture to meet growing global food demands. The lack of additional arable land and availability of freshwater have long been constraints on agriculture. Changes in trends of weather conditions that challenge physiological limits of crops, as projected by global climate models, are expected to exacerbate the global food challenge toward the middle of the 21st century. These climate- and constraint-driven crop production challenges are interconnected within a complex global economy, where diverse factors add to price volatility and food scarcity. We use the DSSAT crop modeling suite, together with mid-century projections of four AR4 global models, as input to the International Food Policy Research Institute IMPACT model to project the impact of climate change on food security through the year 2050 for internationally traded crops. IMPACT is an iterative model that responds to endogenous and exogenous drivers to dynamically solve for the world prices that ensure global supply equals global demand. The modeling methodology reconciles the limited spatial resolution of macro-level economic models that operate through equilibrium-driven relationships at a national level with detailed models of biophysical processes at high spatial resolution. The analysis presented here suggests that climate change in the first half of the 21st century does not represent a near-term threat to food security in the US due to the availability of adaptation strategies (e.g., loss of current growing regions is balanced by gain of new growing regions). However, as climate continues to trend away from 20th century norms current adaptation measures will not be sufficient to enable agriculture to meet growing food demand. Climate scenarios from higher-level carbon emissions exacerbate the food shortfall, although uncertainty in climate model projections (particularly precipitation) is a limitation to impact

Cancer susceptibility and reproductive trade-offs: a model of the evolution of cancer defences.

Science.gov (United States)

Boddy, Amy M; Kokko, Hanna; Breden, Felix; Wilkinson, Gerald S; Aktipis, C Athena

2015-07-19

The factors influencing cancer susceptibility and why it varies across species are major open questions in the field of cancer biology. One underexplored source of variation in cancer susceptibility may arise from trade-offs between reproductive competitiveness (e.g. sexually selected traits, earlier reproduction and higher fertility) and cancer defence. We build a model that contrasts the probabilistic onset of cancer with other, extrinsic causes of mortality and use it to predict that intense reproductive competition will lower cancer defences and increase cancer incidence. We explore the trade-off between cancer defences and intraspecific competition across different extrinsic mortality conditions and different levels of trade-off intensity, and find the largest effect of competition on cancer in species where low extrinsic mortality combines with strong trade-offs. In such species, selection to delay cancer and selection to outcompete conspecifics are both strong, and the latter conflicts with the former. We discuss evidence for the assumed trade-off between reproductive competitiveness and cancer susceptibility. Sexually selected traits such as ornaments or large body size require high levels of cell proliferation and appear to be associated with greater cancer susceptibility. Similar associations exist for female traits such as continuous egg-laying in domestic hens and earlier reproductive maturity. Trade-offs between reproduction and cancer defences may be instantiated by a variety of mechanisms, including higher levels of growth factors and hormones, less efficient cell-cycle control and less DNA repair, or simply a larger number of cell divisions (relevant when reproductive success requires large body size or rapid reproductive cycles). These mechanisms can affect intra- and interspecific variation in cancer susceptibility arising from rapid cell proliferation during reproductive maturation, intrasexual competition and reproduction. © 2015 The Author

EVEGAS Project (European validation exercise of GAS migration model)

Energy Technology Data Exchange (ETDEWEB)

Manai, T. [Geostock S.A., Rueil-Malmaison (France)

1995-03-01

The EVEGAS project aims at the verification and validation of numerical codes suitable for simulating gas flow phenomenon in low permeability porous media. Physical phenomena involved in gas generation and gas flow are numerous, often complex, and may not be very well described. The existing numerical codes cannot represent all the occurring possible phenomena, but allow a good trade-off betwen simplicity and representativity of such phenomena. Two phase flow (Gas and Water) appear to be the most consequential phenomena in gas migration and pressure sizing. The project is organised in three major steps: (1) a simple problem with analytical solutions. (2) A few problems based on laboratory or in-situ experiments. (3) A 3-D repository scenarios involving the following aspects: a repository design; a source of gas; rock characteristics; and fluid characteristics.

Binomial model for measuring expected credit losses from trade receivables in non-financial sector entities

Directory of Open Access Journals (Sweden)

Branka Remenarić

2018-01-01

Full Text Available In July 2014, the International Accounting Standards Board (IASB published International Financial Reporting Standard 9 Financial Instruments (IFRS 9. This standard introduces an expected credit loss (ECL impairment model that applies to financial instruments, including trade and lease receivables. IFRS 9 applies to annual periods beginning on or after 1 January 2018 in the European Union member states. While the main reason for amending the current model was to require major banks to recognize losses in advance of a credit event occurring, this new model also applies to all receivables, including trade receivables, lease receivables, related party loan receivables in non-financial sector entities. The new impairment model is intended to result in earlier recognition of credit losses. The previous model described in International Accounting Standard 39 Financial instruments (IAS 39 was based on incurred losses. One of the major questions now is what models to use to predict expected credit losses in non-financial sector entities. The purpose of this paper is to research the application of the current impairment model, the extent to which the current impairment model can be modified to satisfy new impairment model requirements and the applicability of the binomial model for measuring expected credit losses from accounts receivable.

76 FR 61075 - Foreign-Trade Zone 127-Columbia, SC; Application for Reorganization/Expansion Under Alternative...

Science.gov (United States)

2011-10-03

... Board on July 2, 1986 (Board Order 333, 51 FR 25075, 7/10/86). The current zone project includes the... DEPARTMENT OF COMMERCE Foreign-Trade Zones Board [Docket 57-2011] Foreign-Trade Zone 127--Columbia... submitted to the Foreign-Trade Zones (FTZ) Board (the Board) by the Richland-Lexington Airport District...

Long-run Effects of the Korea-China Free-Trade Agreement

Directory of Open Access Journals (Sweden)

Sunghyun Kim

2015-06-01

Full Text Available This paper uses a 53-country 15-industry computable general equilibrium model of trade to analyze the effects of the Korea-China free trade agreement on the Korean economy, the manufacturing sector in particular. The model is based on Yaylaci and Shikher (2014 which uses the Eaton-Kortum methodology to explain intra-industry trade. The model predicts that the Korea-China FTA will increase Korea-China manufacturing trade by 56%, manufacturing employment in Korea by 5.7% and China by 0.55%. The model also predicts significant reallocation of employment across industries with the Food industry in Korea losing jobs and other industries there gaining jobs, with the Medical equipment industry gaining the most. There will be some trade diversion from the ASEAN countries, as well as Japan and the United States.

An Empirical Investigation of Trade Flows Between Australia and its Major Trading Partners

Directory of Open Access Journals (Sweden)

Samuel Belicka

2014-12-01

Full Text Available This study introduces Net Export (NX models to examine the determinants of the trade flows between Australia and eight selected trading partner (TP countries (China, France, Germany, Malaysia, Singapore, Thailand, United Kingdom, United States of America in four selected Trade Deficit (TD categories (Pharmaceutical Products; Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Electrical Machinery and Equipment; Sound Recorders and Producers, and Vehicles Other Than Railway or Tramway Rolling-Stock. A total of 29 NX models are estimated, which are based on both the monetary and Quantity (QTY values. Findings in this study suggest that macroeconomic variables such as money supply, interest rates and savings rates have no-significant effect in the determination of the NX levels in the selected categories. This highlights that monetary policy cannot influence the NX levels in the selected TD categories in Australia. This study also identifies some policy implications which arise from this paper.

Influence of trade on national CO2 emissions

International Nuclear Information System (INIS)

Munksgaard, Jesper; Pade, Lise-Lotte; Minx, Jan; Lenzen, Manfred

2005-01-01

International trade has an impact on national CO 2 emissions and consequently on the ability to fulfil national CO 2 reduction targets. Through goods and services traded in a globally interdependent world, the consumption in each country is linked to greenhouse gas emissions in other countries. It has been argued that in order to achieve equitable reduction targets, international trade has to be taken into account when assessing nations' responsibility for abating climate change. Especially for open economies such as Denmark, greenhouse gases embodied in internationally traded commodities can have a considerable influence on the national 'greenhouse gas responsibility'. By using input-output modelling, we analyse the influence from international trade on national CO 2 emissions. The aim is to show that trade is the key to define CO 2 responsibility on a macroeconomic level and that imports should be founded in a multi-region model approach. Finally, the paper concludes on the need to consider the impact from foreign trade when negotiating reduction targets and base line scenarios. (Author)

An emissions trading regime for Canada

International Nuclear Information System (INIS)

Smith, S.L.

2001-01-01

In 1998, over twelve papers were published on emissions trading regimes in Canada by the National Round Table on the Environment and the Economy (NRTEE), a federal government agency whose members represent stakeholders as varied as business, environmental groups, academics, aboriginal groups and others. One of the recommendations that emerged was for the computer modelling of the possibilities that had been identified for a domestic trading regime in Canada for greenhouse gases. It is unclear whether the modelling was ever performed as the file was taken over by the Finance Department under the umbrella of a special emission trading table that examined Canada's commitment under the Kyoto Protocol. The author examined questions pertaining to whether a domestic trading regime is essential, and what its characteristics should be in case it was deemed essential or advisable to have one. The upstream versus downstream application was looked at, as well as grand-fathering versus auction. Provincial issues were then addressed, followed by meshing with a credit system. International systems were reviewed. Early action was discussed, whereby an emitter seeks credit for action taken toward reductions since the original reference year of 1990. The case of emitters having bought or sold permits since the original reference years will also want those trades recognized under a trading regime. The author indicated that it seems probable that an emission trading system will eventually be implemented and that a debate on the issue should be initiated early

SCRUB versus trade: Enemies or allies?

International Nuclear Information System (INIS)

Platt, J.B.

1992-01-01

Under the 1990 Clean Air Act Amendments (CAAA), scrubbing and emission allowance trading will play complementary roles. This paper reviews Phase I announced strategies and presents projections of technology controls, coal switching and industry-wide SO 2 removal costs under different assumptions about trading. The principal uncertainties characterizing today's planning environment are discussed -- ranging from changing expectations for fuel costs to swings in allowance prices and questions about regulation and new operating procedures. Economic forecasting is difficult. A clearer picture of Phase 2 strategies is emerging from EPRI's integrated analysis of fuel, technology and allowance markets -- based on collaboration between A. Van Horn and K. White (management consultants) and T. Hewson (Energy Ventures Analysis). About half the SO 2 reductions required in Phase 2 are likely to come from technology controls and half from coal switching. With trading, the highest cost open-quotes scrubsclose quotes and open-quotes switchesclose quotes can be avoided, more upgrading of low-cost scrubbing is expected, and the role of switching grows to a small extent. Additional benefits from trading, averaging and banking allowances are: better sequencing of technology controls, less stringent specs for equipment, and added flexibility/risk-sharing opportunities in contract arrangements

Implementation of blockchain-based energy trading system

Directory of Open Access Journals (Sweden)

Se-Chang Oh

2017-12-01

Full Text Available Purpose - The centralized processes of today’s power trading systems are complex and pose a risk of price tampering and hacking. The decentralized and unmodifiable nature of the blockchain technology that has recently been highlighted offers the potential to improve this power trading process. The purpose of this study is to implement a system to apply the blockchain technology to the problem of power trading. Design/methodology/approach - The authors modeled the power trading problem as the interaction between admin, producer and consumer nodes. And a power trading scenario has been created for this model using a blockchain platform called Multichain which is both fast and highly scalable. To verify this scenario, they implemented a trading system using Savoir, a Python-based JsonRPC module. Findings - Experimental results show that all processes, such as blockchain creation, node connectivity, asset issuance and exchange transactions have been correctly handled according to the scenario. Originality/value - In this study, the authors have proposed and implemented a power trading method that determines price according to the pure market principle and cannot be manipulated or hacked. It is based on the nature of blockchain technology that is decentralized and cannot be tampered.

THE WORLD TRADE ORGANIZATION (WTO FREE TRADE WITHIN FAIR TRADE CHALLENGES

Directory of Open Access Journals (Sweden)

M. Ya’kub Aiyub Kadir

2014-06-01

Full Text Available Free trade and fair trade are considered an ambiguous term with relative meanings of identification. Objectively, free and fair trade does not mean completely free and fair, but it means trade under binding rules obeyed by member countries as a consequence of their commitment after signing and ratification of the WTO agreements. Hence, this paper aims at exploring the issue and does an effort to harmonise between free trade and fair trade within the WTO system. Perdagangan bebas dan perdagangan yang adil adalah dua istilah yang ambigu maknanya. Secara obyektif, perdagangan bebas tidak bermakna bebas dan adil seluruhnya, tetapi bermakna sebuah perdagangan di bawah aturan-aturan mengikat setelah negara anggota menandatangani dan meratifikasi kesepakatan WTO. Tetapi dalam realitas kebanyakan Negara, terutama negara berkembang tidak mampu untuk membuka pasar dan menurunkan tarif secara keseluruhan. Persoalan tidak berimbangnya kekuatan, kurang demokrasi, krisis legitimasi dan dobel standar dalam WTO sistem merupakan sebuah tantangan yang masih berlanjut. Paper ini akan mengkaji persoalan ini dan berupaya mengharmonisasikan antara perdagangan bebas dan adil dalam sistem WTO.

THE WORLD TRADE ORGANIZATION (WTO FREE TRADE WITHIN FAIR TRADE CHALLENGES

Directory of Open Access Journals (Sweden)

M. Ya’kub Aiyub Kadir

2014-06-01

Full Text Available Free trade and fair trade are considered an ambiguous term with relative meanings of identification. Objectively, free and fair trade does not mean completely free and fair, but it means trade under binding rules obeyed by member countries as a consequence of their commitment after signing and ratification of the WTO agreements. Hence, this paper aims at exploring the issue and does an effort to harmonise between free trade and fair trade within the WTO system.   Perdagangan bebas dan perdagangan yang adil adalah dua istilah yang ambigu maknanya. Secara obyektif, perdagangan bebas tidak bermakna bebas dan adil seluruhnya, tetapi bermakna sebuah perdagangan di bawah aturan-aturan mengikat setelah negara anggota menandatangani dan meratifikasi kesepakatan WTO. Tetapi dalam realitas kebanyakan Negara, terutama negara berkembang tidak mampu untuk membuka pasar dan menurunkan tarif secara keseluruhan. Persoalan tidak berimbangnya kekuatan, kurang demokrasi, krisis legitimasi dan dobel standar dalam WTO sistem merupakan sebuah tantangan yang masih berlanjut. Paper ini akan mengkaji persoalan ini dan berupaya mengharmonisasikan antara perdagangan bebas dan adil dalam sistem WTO.

Trade policy and quality leadership in transition economies

NARCIS (Netherlands)

Moraga-González, José Luis; Viaene, Jean Marie

Trade policy and quality leadership in transition economies are analyzed in a duopoly model of trade and vertical product differentiation. We first show that the incidence of trade liberalization is sensitive to whether firms in transition economies are producers of low or high quality. Second, we

Multimode Resource-Constrained Multiple Project Scheduling Problem under Fuzzy Random Environment and Its Application to a Large Scale Hydropower Construction Project

Science.gov (United States)

Xu, Jiuping

2014-01-01

This paper presents an extension of the multimode resource-constrained project scheduling problem for a large scale construction project where multiple parallel projects and a fuzzy random environment are considered. By taking into account the most typical goals in project management, a cost/weighted makespan/quality trade-off optimization model is constructed. To deal with the uncertainties, a hybrid crisp approach is used to transform the fuzzy random parameters into fuzzy variables that are subsequently defuzzified using an expected value operator with an optimistic-pessimistic index. Then a combinatorial-priority-based hybrid particle swarm optimization algorithm is developed to solve the proposed model, where the combinatorial particle swarm optimization and priority-based particle swarm optimization are designed to assign modes to activities and to schedule activities, respectively. Finally, the results and analysis of a practical example at a large scale hydropower construction project are presented to demonstrate the practicality and efficiency of the proposed model and optimization method. PMID:24550708

Multimode resource-constrained multiple project scheduling problem under fuzzy random environment and its application to a large scale hydropower construction project.

Science.gov (United States)

Xu, Jiuping; Feng, Cuiying

2014-01-01

This paper presents an extension of the multimode resource-constrained project scheduling problem for a large scale construction project where multiple parallel projects and a fuzzy random environment are considered. By taking into account the most typical goals in project management, a cost/weighted makespan/quality trade-off optimization model is constructed. To deal with the uncertainties, a hybrid crisp approach is used to transform the fuzzy random parameters into fuzzy variables that are subsequently defuzzified using an expected value operator with an optimistic-pessimistic index. Then a combinatorial-priority-based hybrid particle swarm optimization algorithm is developed to solve the proposed model, where the combinatorial particle swarm optimization and priority-based particle swarm optimization are designed to assign modes to activities and to schedule activities, respectively. Finally, the results and analysis of a practical example at a large scale hydropower construction project are presented to demonstrate the practicality and efficiency of the proposed model and optimization method.

Fair Trade Practices in the Northwest Brazilian Amazon

Directory of Open Access Journals (Sweden)

Rafael D’Almeida Martins

2011-10-01

Full Text Available This paper describes and analyzes the Arte Baniwa project, a sustainable development project based on the production and commercialization of Baniwa indigenous basketwork with the support of the Instituto Socioambiental (ISA, a major NGO in Brazil. The project seeks to enhance the value of the Baniwa basketmaking tradition, increase production within the limits of the sustainable use of natural resources, generate income for indigenous producers and their political associations, and train indigenous leadership in the skills of business management. The methodology encompasses a literature review on fair trade and builds upon ethnographic and participative research methods. The narrative and analysis of the case study comprise a framework that is two-fold: first, it looks at existing inter-organizational tiers between actors and identifies the presence of two different logics within the project; second, it encompasses the reality of many emerging fair trade initiatives in Brazil which harness market forces to pursue local sustainable development. The paper argues that ISA has acted as a boundary organization by communicating, translating and mediating between traditional (indigenous knowledge and Western culture. By doing so, it was able to mobilize the project’s capacity to promote sustainable development.

Constrained bayesian inference of project performance models

OpenAIRE

Sunmola, Funlade

2013-01-01

Project performance models play an important role in the management of project success. When used for monitoring projects, they can offer predictive ability such as indications of possible delivery problems. Approaches for monitoring project performance relies on available project information including restrictions imposed on the project, particularly the constraints of cost, quality, scope and time. We study in this paper a Bayesian inference methodology for project performance modelling in ...

77 FR 27021 - Foreign-Trade Zone 129-Bellingham, WA; Application for Reorganization Under Alternative Site...

Science.gov (United States)

2012-05-08

... FTZ 131 zone projects under FTZ 129. FTZ 130 was approved by the Board on September 4, 1986 (51 FR... DEPARTMENT OF COMMERCE Foreign-Trade Zones Board [(B-32-2012)] Foreign-Trade Zone 129--Bellingham... to the Foreign-Trade Zones (FTZ) Board (the Board) by the Port of Bellingham, grantee of FTZ 129...

Carbon sequestration in agricultural soils: a potential carbon trading opportunity?

International Nuclear Information System (INIS)

Cowie, Annette L.; Murphy, Brian; Rawson, Andrew; Wilson, Brian; Singh, Bhupinderpal; Young, Rick; Grange, Ian

2007-01-01

Full text: Emissions trading schemes emerging in Australia and internationally create a market mechanism by which release of greenhouse gases incurs a cost, and implementation of abatement measures generates a financial return. There is growing interest amongst Australian landholders in emissions trading based on sequestration of carbon in soil through modified land management practices. Intensively cropped soils have low carbon content, due to disturbance, erosion and regular periods of minimal organic matter input. Because cropping soils in Australia have lost a substantial amount of carbon there is significant potential to increase carbon stocks through improved land management practices. Evidence from long term trials and modelling indicates that modified cropping practices (direct drilling, stubble retention, controlled traffic) have limited impact on soil carbon (0 to +2 tC02e ha-' year1) whereas conversion from cropping to pasture gives greater increases. Small-increases in soil carbon over large areas can contribute significantly to mitigation of Australia's greenhouse gas emissions. Furthermore, increase in soil organic matter will improve soil health, fertility and resilience. However, the inclusion of soil carbon offsets in an emissions trading scheme cannot occur until several barriers are overcome. The first relates to credibility. Quantification of the extent to which specific land management practices can sequester carbon in different environments will provide the basis for promotion of the concept. Current research across Australia is addressing this need. Secondly, cost-effective and accepted methods of estimating soil carbon change must be available. Monitoring soil carbon to document change on a project scale is not viable due to the enormous variability in carbon stocks on micro and macro scales. Instead estimation of soil carbon change could be undertaken through a combination of baseline measurement to assess the vulnerability of soil carbon

Trade in industry

Energy Technology Data Exchange (ETDEWEB)

1984-01-01

In this report the Government has provided information on recent trends in Australia's energy trade and examined the implications of recent changes in those trends for the remainder of the 1980's. The opportunities for Australia as an energy exporter in the years ahead have been identified, along with related policy issues. The Committee has concluded that energy export projections made as recently as two years ago which foreshadowed massive increases in exports of coal, gas and uranium from Australia over the next couple of decades must now be considered excessively optimistic, given slack world economic conditions and the softer trend in world oil prices. The Committee has, however, cautioned against becoming too gloomy and of taking the immediate past period as a basis for projecting the longer term.

Comparative assessment of hydrogen storage and international electricity trade for a Danish energy system with wind power and hydrogen/fuel cell technologies. Final project report

Energy Technology Data Exchange (ETDEWEB)

Soerensen, Bent (Roskilde University, Energy, Environment and Climate Group, Dept. of Environmental, Social and Spatial Change (ENSPAC) (DK)); Meibom, P.; Nielsen, Lars Henrik; Karlsson, K. (Technical Univ. of Denmark, Risoe National Laboratory for Sustainable Energy, Systems Analysis Dept., Roskilde (DK)); Hauge Pedersen, A. (DONG Energy, Copenhagen (DK)); Lindboe, H.H.; Bregnebaek, L. (ea Energy Analysis, Copenhagen (DK))

2008-02-15

This report is the final outcome of a project carried out under the Danish Energy Agency's Energy Research Programme. The aims of the project can be summarized as follows: 1) Simulation of an energy system with a large share of wind power and possibly hydrogen, including economic optimization through trade at the Nordic power pool (exchange market) and/or use of hydrogen storage. The time horizon is 50 years. 2) Formulating new scenarios for situations with and without development of viable fuel cell technologies. 3) Updating software to solve the abovementioned problems. The project has identified a range of scenarios for all parts of the energy system, including most visions of possible future developments. (BA)

Spiral model pilot project information model

Science.gov (United States)

1991-01-01

The objective was an evaluation of the Spiral Model (SM) development approach to allow NASA Marshall to develop an experience base of that software management methodology. A discussion is presented of the Information Model (IM) that was used as part of the SM methodology. A key concept of the SM is the establishment of an IM to be used by management to track the progress of a project. The IM is the set of metrics that is to be measured and reported throughout the life of the project. These metrics measure both the product and the process to ensure the quality of the final delivery item and to ensure the project met programmatic guidelines. The beauty of the SM, along with the IM, is the ability to measure not only the correctness of the specification and implementation of the requirements but to also obtain a measure of customer satisfaction.

Cooperation in environmental protection. The economics of green trade, market-based instruments and community involvement

International Nuclear Information System (INIS)

Roettgers, Dirk

2013-01-01

The Millennium Development Goals (United Nations, 2000) and, by extension, such efforts as the Convention on Biological Diversity and the Kyoto Protocol (Kyoto Protocol, 1997), present mankind with a challenge that can only be overcome through cooperation. Cooperative policies are necessary from the highest level, i.e. international policies and treaties, to regional and national agreements, down to the local level, where policies are actually enacted. To close some gaps in the understanding of applicable policy instruments, this dissertation looks at a few key topics of environmental protection with implications for market-based instruments. The five different research areas are (1) EU bioenergy trade, (2) Clean Development Mechanism (CDM), (3) comparison of the effectiveness of product certification, ecosystem certification and offset mechanisms in wetland ecosystems, (4) international market-based instruments for African protected areas and (5) local stakeholder decision making in rural ecosystems of developing countries. Bioenergy consumption, production and trade have been increasing worldwide in the recent decade, mostly due to demand from EU countries and the USA. Taking the example of the EU, it is questionable if these trade flows are caused mainly by EU trade rules or targeted bioenergy policies. A sector-specific analysis taking industry patterns into consideration is necessary to evaluate the impact of these two policy areas on trade flows. A common way to analyze trade flows is the gravity model, which is employed here. This dissertation finds out why that is by using a gravity model to analyze flows of Certified Emission Reductions (CERs) between host and financier countries. The special roles of foreign direct investments (FDI), official development aid (ODA) and trade are scrutinized closely in this context. Findings show that FDI, ODA and trade have a positive influence on project attraction, even when holding determinants of these factors constant

Demand-side management project for Tenaga Nasional Berhad: Energy efficiency study: Institut Teknologi Mara (ITM) complex. Final report. Export trade information

Energy Technology Data Exchange (ETDEWEB)

NONE

1995-03-01

This study, conducted by the California Energy Commission, was funded by the U.S. Trade and Development Agency. The report focuses on energy efficiency and conservation measures at the Institut Teknologi Mara (ITM) Complex for Tenaga Nasional Berhad in Malaysia. The study is divided into the following sections: Preface; (1.0) Executive Summary; (2.0) Facility Background and Site Information; (3.0) Site Energy Use; (4.0) Energy Using Systems; (5.0) On-Site Electricity and Energy Generation; (6.0) Technical Project Summary; Figures, Tables, Appendices.

Environmental Regulation and International Trade

Energy Technology Data Exchange (ETDEWEB)

Mulatu, A. [London School of Economics, London (United Kingdom); Florax, R.J.G.M.; Withagen, C.A. [Faculty of Economics and Business Administration, Vrije Universiteit, Amsterdam (Netherlands)

2004-07-01

We empirically investigate the responsiveness of international trade to the stringency of environmental regulation. Stringent environmental regulation may impair the export competitiveness of 'dirty' domestic industries, and as a result, 'pollution havens' emerge in countries where environmental regulation is 'over-lax.' We examine the impact of pollution abatement and control costs on net exports in order to grasp this phenomenon. Theoretically, our analysis is related to a general equilibrium model of trade and pollution nesting the pollution haven motive for trade with the factor endowment motive. We analyze data on two-digit ISIC manufacturing industries during the period 1977-1992 in Germany, the Netherlands and the US, and show that trade patterns in 'dirty' commodities are jointly determined by relative factor endowments and environmental stringency differentials.

Trade Liberalisation and Vertical Integration

DEFF Research Database (Denmark)

Bache, Peter Arendorf; Laugesen, Anders Rosenstand

We build a three-country model of international trade in final goods and intermediate inputs and study the relation between four different types of trade liberalisation and vertical integration. Firms are heterogeneous with respect to both productivity and factor (headquarter) intensity. Final......-good producers face decisions on exporting, vertical integration of intermediate-input production, and whether the intermediate-input production should be offshored to a low-wage country. We find that the fractions of final-good producers that pursue either vertical integration, offshoring, or exporting are all...... increasing when intermediate-input trade or final-goods trade is liberalised. Finally, we provide guidance for testing the open-economy property rights theory of the firm using firm-level data and surprisingly show that the relationship between factor (headquarter) intensity and the likelihood of vertical...

A simple test for PPP among traded goods

NARCIS (Netherlands)

Ph.H.B.F. Franses (Philip Hans); D.J.C. van Dijk (Dick)

2002-01-01

textabstractThe so-called Balassa-Samuelson model implies that relative prices of non-traded goods may be nonstationary and, hence, that PPP should preferably be tested on real exchange rates based on prices of traded goods only. We propose a simple test for PPP among traded goods which can be

Asset Prices and Trading Volume under Fixed Transactions Costs.

Science.gov (United States)

Lo, Andrew W.; Mamaysky, Harry; Wang, Jiang

2004-01-01

We propose a dynamic equilibrium model of asset prices and trading volume when agents face fixed transactions costs. We show that even small fixed costs can give rise to large "no-trade" regions for each agent's optimal trading policy. The inability to trade more frequently reduces the agents' asset demand and in equilibrium gives rise to a…

Emissions trading under market imperfections

Energy Technology Data Exchange (ETDEWEB)

Lappi, P.

2013-08-15

In this thesis we consider emissions trading under various market imperfections such as uncertainty over permit price, imperfect competition and noncompliance. First, we study the effects of uncertain permit price on the firms choice of emission intensive and clean inputs in an multi-input production process. We also assess the risk aversion factors of some Finnish heat and power producers. Second, we study imperfect competition in output and permit markets with a two-stage model, where output decision is made before permit trades. The emphasis is on the strategic interaction between firms and on the efficiency increasing regulation. Third, we turn back to uncertainty and analyse the welfare difference between emissions trading and emission tax, when some of the firms may be noncompliant. The main finding is that welfare is greater with emission tax than with emissions trading, when at least one firm is noncompliant. Finally, we extend some existing models of permit banking and borrowing to encompass also noncompliant behavior of firms. Here, we analyse the incentives of compliant firms to become noncompliant at some point in time and also the time paths of the choice variables. (orig.)

International trade law perspectives on paperless trade and inclusive digital trade

OpenAIRE

Mitchell, Andrew D.; Mishra, Neha

2017-01-01

Cross-border paperless trade is increasingly important to generate economic gains in a digitalised economy. Several developing and least developed countries will need to modernise their domestic laws and regulations to facilitate cross-border electronic transmissions, particularly to promote cloud computing and electronic payments. In recent trade agreements, trading partners have committed to deeper and more comprehensive provisions on electronic commerce, including adopting domestic laws on...

On the Determinants of Intra-industry Trade: Specialization and Relative Factor Endowments

Directory of Open Access Journals (Sweden)

E. Young Song

2007-12-01

Full Text Available This paper derives a general relationship among intra-industry trade, specialization, and gravity. This relationship holds in any two-country trade model under assumptions that are frequently adopted in theoretical trade models. Using this general relationship, we can take an integrated approach to the theory of intra-industry trade. In two-good, two-factor models, this relationship implies that the intensity of intra-industry trade is decreasing in the difference in factor proportions and is increasing in the product of per-worker GDPs. Thus, the popular assertion that a negative correlation between the intensity of intra- industry trade and the difference in factor proportions supports monopolistic competition is groundless. Using panel data on bilateral trade flows, we estimate these relationships. We find that the negative correlation between intra-industry trade and specialization is quite robust. We also find a robust positive correlation between intra-industry trade and the product of per-capita GDPs.

Trade Policy Reform and the Missing Revenue

DEFF Research Database (Denmark)

Arndt, Thomas Channing; Tarp, Finn

2008-01-01

into a computable general equilibrium model of an African economy (Mozambique) to study the implications of trade policy reform. Model simulations indicate that lowering tariff rates and reducing duty-free importation in a manner that maintains official revenue benefit nearly everyone. The main exception is those......In many African countries, large discrepancies exist between revenues implied by published tariff rates multiplied by estimated import volumes and actual receipts. We develop a stylised trade model where average and marginal tariff rates diverge and incorporate insights from this model...

A Novel Grey Wave Method for Predicting Total Chinese Trade Volume

Directory of Open Access Journals (Sweden)

Kedong Yin

2017-12-01

Full Text Available The total trade volume of a country is an important way of appraising its international trade situation. A prediction based on trade volume will help enterprises arrange production efficiently and promote the sustainability of the international trade. Because the total Chinese trade volume fluctuates over time, this paper proposes a Grey wave forecasting model with a Hodrick–Prescott filter (HP filter to forecast it. This novel model first parses time series into long-term trend and short-term cycle. Second, the model uses a general GM (1,1 to predict the trend term and the Grey wave forecasting model to predict the cycle term. Empirical analysis shows that the improved Grey wave prediction method provides a much more accurate forecast than the basic Grey wave prediction method, achieving better prediction results than autoregressive moving average model (ARMA.

The Jena Diversity-Dynamic Global Vegetation Model (JeDi-DGVM: a diverse approach to representing terrestrial biogeography and biogeochemistry based on plant functional trade-offs

Directory of Open Access Journals (Sweden)

R. Pavlick

2013-06-01

Full Text Available Terrestrial biosphere models typically abstract the immense diversity of vegetation forms and functioning into a relatively small set of predefined semi-empirical plant functional types (PFTs. There is growing evidence, however, from the field ecology community as well as from modelling studies that current PFT schemes may not adequately represent the observed variations in plant functional traits and their effect on ecosystem functioning. In this paper, we introduce the Jena Diversity-Dynamic Global Vegetation Model (JeDi-DGVM as a new approach to terrestrial biosphere modelling with a richer representation of functional diversity than traditional modelling approaches based on a small number of fixed PFTs. JeDi-DGVM simulates the performance of a large number of randomly generated plant growth strategies, each defined by a set of 15 trait parameters which characterize various aspects of plant functioning including carbon allocation, ecophysiology and phenology. Each trait parameter is involved in one or more functional trade-offs. These trade-offs ultimately determine whether a strategy is able to survive under the climatic conditions in a given model grid cell and its performance relative to the other strategies. The biogeochemical fluxes and land surface properties of the individual strategies are aggregated to the grid-cell scale using a mass-based weighting scheme. We evaluate the simulated global biogeochemical patterns against a variety of field and satellite-based observations following a protocol established by the Carbon-Land Model Intercomparison Project. The land surface fluxes and vegetation structural properties are reasonably well simulated by JeDi-DGVM, and compare favourably with other state-of-the-art global vegetation models. We also evaluate the simulated patterns of functional diversity and the sensitivity of the JeDi-DGVM modelling approach to the number of sampled strategies. Altogether, the results demonstrate the

Master equation for a kinetic model of a trading market and its analytic solution.

Science.gov (United States)

Chatterjee, Arnab; Chakrabarti, Bikas K; Stinchcombe, Robin B

2005-08-01

We analyze an ideal-gas-like model of a trading market with quenched random saving factors for its agents and show that the steady state income (m) distribution P(m) in the model has a power law tail with Pareto index nu exactly equal to unity, confirming the earlier numerical studies on this model. The analysis starts with the development of a master equation for the time development of P(m) . Precise solutions are then obtained in some special cases.

75 FR 1345 - Solicitation of Applications for the Community Trade Adjustment Assistance Program

Science.gov (United States)

2010-01-11

... communities respond to the loss of jobs caused by the layoffs at firms and other types of employers impacted..., planning, and infrastructure projects to help communities adapt to pressing trade impact issues and... the following three Trade Adjustment Assistance (TAA) programs: TAA for Workers, TAA for Firms, or TAA...

The cricket and the ant : Organizational trade-offs in changing environments

NARCIS (Netherlands)

Peli, Gabor; Bruggeman, Jeroen

2007-01-01

Organizations face trade-offs when they adopt strategies in changing resource environments. The type of trade-off depends on the type of resource change. This paper offers an organizational trade-off model for quantitative resource changes. We call it the "Cricket and Ant" (CA) model, because the

Carbon emissions trading scheme exploration in China: A multi-agent-based model

International Nuclear Information System (INIS)

Tang, Ling; Wu, Jiaqian; Yu, Lean; Bao, Qin

2015-01-01

To develop a low-carbon economy, China launched seven pilot programs for carbon emissions trading (CET) in 2011 and plans to establish a nationwide CET mechanism in 2015. This paper formulated a multi-agent-based model to investigate the impacts of different CET designs in order to find the most appropriate one for China. The proposed bottom-up model includes all main economic agents in a general equilibrium framework. The simulation results indicate that (1) CET would effectively reduce carbon emissions, with a certain negative impact on the economy, (2) as for allowance allocation, the grandfathering rule is relatively moderate, while the benchmarking rule is more aggressive, (3) as for the carbon price, when the price level in the secondary CET market is regulated to be around RMB 40 per metric ton, a satisfactory emission mitigation effect can be obtained, (4) the penalty rate is suggested to be carefully designed to balance the economy development and mitigation effect, and (5) subsidy policy for energy technology improvement can effectively reduce carbon emissions without an additional negative impact on the economy. The results also indicate that the proposed novel model is a promising tool for CET policy making and analyses. -- Highlights: •A multi-agent-based model is proposed for carbon emissions trading (CET) in China. •Three agents are included: government, firms in different sectors and households. •The impacts of CET on the economy and environment in China are analyzed. •Different CET designs are simulated to find an appropriate policy for China. •Results confirm the effectiveness of the model and give helpful insights into CET design

Trade Union Participation in University Research Policies.

Science.gov (United States)

Leydesdorff, Loet

1984-01-01

The recent development of Dutch research coordination agencies, the Science Shops, forms the context for a description of the relationship between university research and policy at Amsterdam University and the national trade union organization. Management tools such as project financing and other elements of this system are discussed. (MSE)

Demand side management project for Tenaga Nasional Berhad: Energy efficiency study: Jabatan Kerja Raya (JKR) complex. Final report. Export trade information

Energy Technology Data Exchange (ETDEWEB)

NONE

1995-03-01

This study, conducted by the California Energy Commission, was funded by the U.S. Trade and Development Agency. The report focuses on energy efficiency and conservation measures at the Jabatan Kerja Raya (JKR) Complex in Malaysia for Tenaga Nasional Berhad (TNB). The study is divided into the following contents: Preface; (1.0) Executive Summary; (2.0) Facility Background and Site Information; (3.0) Site Energy Use; (4.0) Energy Using Systems; (5.0) On-Site Electricity and Energy Generation; (6.0) Technical Project Summary; Figures, Tables, and Appendices.

Putting Trade Logistics Reform “on the Map” in Armenia

OpenAIRE

Gabrielyan, Gagik; Huria, Ankur; Nazaryan, Arsen

2012-01-01

Armenia did it through trade logistics reform - with help from International Finance Corporation's (IFC's) Armenia doing business reform and regulatory simplification project, launched in February 2009. The project team builds constructive relationships-including well-designed and consistent communication-with the Ministry of Economy, the customs service, and the private sector to identify...

Teaching mathematical modelling through project work

DEFF Research Database (Denmark)

Blomhøj, Morten; Kjeldsen, Tinne Hoff

2006-01-01

are reported in manners suitable for internet publication for colleagues. The reports and the related discussions reveal interesting dilemmas concerning the teaching of mathematical modelling and how to cope with these through “setting the scene” for the students modelling projects and through dialogues......The paper presents and analyses experiences from developing and running an in-service course in project work and mathematical modelling for mathematics teachers in the Danish gymnasium, e.g. upper secondary level, grade 10-12. The course objective is to support the teachers to develop, try out...... in their own classes, evaluate and report a project based problem oriented course in mathematical modelling. The in-service course runs over one semester and includes three seminars of 3, 1 and 2 days. Experiences show that the course objectives in general are fulfilled and that the course projects...

Modeling future U.S. forest sector market and trade impacts of expansion in wood energy consumption

Science.gov (United States)

Peter J. Ince; Andrew D. Kramp; Kenneth E. Skog; Do-il Yoo; V. Alaric Sample

2011-01-01

This paper describes an approach to modeling U.S. forest sector market and trade impacts of expansion in domestic wood energy consumption under hypothetical future U.S. wood biomass energy policy scenarios. The U.S. Forest Products Module (USFPM) was created to enhance the modeling of the U.S. forest sector within the Global Forest Products Model (GFPM), providing a...

Dynamics of a developing economy with a remote region: Agglomeration, trade integration and trade patterns

Science.gov (United States)

Commendatore, Pasquale; Kubin, Ingrid; Sushko, Iryna

2018-05-01

We consider a three-region developing economy with poor transport infrastructures. Two models are related to different stages of development: in the first all regions are autarkic; in the second two of the regions begin to integrate with the third region still not accessible to trade. The properties of the two models are studied also considering the interplay between industry location and trade patterns. Dynamics of these models are described by two-dimensional piecewise smooth maps, characterized by multistability and complex bifurcation structure of the parameter space. We obtain analytical results related to stability of various fixed points and illustrate several bifurcation structures by means of two-dimensional bifurcation diagrams and basins of coexisting attractors.

World Energy Projection System model documentation

International Nuclear Information System (INIS)

Hutzler, M.J.; Anderson, A.T.

1997-09-01

The World Energy Projection System (WEPS) was developed by the Office of Integrated Analysis and Forecasting within the Energy Information Administration (EIA), the independent statistical and analytical agency of the US Department of Energy. WEPS is an integrated set of personal computer based spreadsheets containing data compilations, assumption specifications, descriptive analysis procedures, and projection models. The WEPS accounting framework incorporates projections from independently documented models and assumptions about the future energy intensity of economic activity (ratios of total energy consumption divided by gross domestic product GDP), and about the rate of incremental energy requirements met by natural gas, coal, and renewable energy sources (hydroelectricity, geothermal, solar, wind, biomass, and other renewable resources). Projections produced by WEPS are published in the annual report, International Energy Outlook. This report documents the structure and procedures incorporated in the 1998 version of the WEPS model. It has been written to provide an overview of the structure of the system and technical details about the operation of each component of the model for persons who wish to know how WEPS projections are produced by EIA

World Energy Projection System model documentation

Energy Technology Data Exchange (ETDEWEB)

Hutzler, M.J.; Anderson, A.T.

1997-09-01

The World Energy Projection System (WEPS) was developed by the Office of Integrated Analysis and Forecasting within the Energy Information Administration (EIA), the independent statistical and analytical agency of the US Department of Energy. WEPS is an integrated set of personal computer based spreadsheets containing data compilations, assumption specifications, descriptive analysis procedures, and projection models. The WEPS accounting framework incorporates projections from independently documented models and assumptions about the future energy intensity of economic activity (ratios of total energy consumption divided by gross domestic product GDP), and about the rate of incremental energy requirements met by natural gas, coal, and renewable energy sources (hydroelectricity, geothermal, solar, wind, biomass, and other renewable resources). Projections produced by WEPS are published in the annual report, International Energy Outlook. This report documents the structure and procedures incorporated in the 1998 version of the WEPS model. It has been written to provide an overview of the structure of the system and technical details about the operation of each component of the model for persons who wish to know how WEPS projections are produced by EIA.

Cointegration and error correction modelling of agricultural commodity trade: The case of ASEAN agricultural exports to the EU

Directory of Open Access Journals (Sweden)

J. NIEMI

2008-12-01

Full Text Available The objecti e of this study is to increase our understanding of the specification and estimation of agricultural commodity trade models as well as to provide instruments for trade policy analysis. More specifically,the aim is to build a set of dynamic,theory-based econometric models which are able to capture both short-run and long-run effects of income and price changes,and which can be used for prediction and policy simulation under alternati e assumed conditions.A relati ely unrestricted,data determined,econometric modelling approach based on the error correction mechanism is used,in order to emphasise the importance of dynamics of trade functions.Econometric models are constructed for se en agricultural commodities –cassa a,cocoa,coconut oil,palm oil,pepper, rubber,and tea –exported from the Association of Southeast Asian Nations (ASEANto the European Union (EU.With the aim of providing broad commodity co erage,the intent is to explore whether the chosen modelling approach is able to catch the essentials of the behavioural relationships underlying the specialised nature of each commodity market. The import demand analysis of the study examines two key features:(1the response of EU ’s agricultural commodity imports to income and price changes,and (2the length of time required for this response to occur.The estimations of the export demand relationships provide tests whether the exporters ’ market shares are influenced by the le el of relati e export price,and whether exports are affected by ariations in the rate of growth of imports.The export supply analysis examines the relati e influence of real price and some non-price factors in stimulating the supply of exports.The lag distribution (the shape and length of the lagis found to be ery critical in export supply relationships,since the effects of price changes usually take a long time to work themselves through and since the transmission of the price effects can be complex.The set of

An Optimization Scheduling Model for Wind Power and Thermal Power with Energy Storage System considering Carbon Emission Trading

Directory of Open Access Journals (Sweden)

Huan-huan Li

2015-01-01

Full Text Available Wind power has the characteristics of randomness and intermittence, which influences power system safety and stable operation. To alleviate the effect of wind power grid connection and improve power system’s wind power consumptive capability, this paper took emission trading and energy storage system into consideration and built an optimization model for thermal-wind power system and energy storage systems collaborative scheduling. A simulation based on 10 thermal units and wind farms with 2800 MW installed capacity verified the correctness of the models put forward by this paper. According to the simulation results, the introduction of carbon emission trading can improve wind power consumptive capability and cut down the average coal consumption per unit of power. The introduction of energy storage system can smooth wind power output curve and suppress power fluctuations. The optimization effects achieve the best when both of carbon emission trading and energy storage system work at the same time.

Trade-offs across space, time, and ecosystem services

Science.gov (United States)

Rodriguez, J.P.; Beard, T.D.; Bennett, E.M.; Cumming, Graeme S.; Cork, S.J.; Agard, J.; Dobson, A.P.; Peterson, G.D.

2006-01-01

Ecosystem service (ES) trade-offs arise from management choices made by humans, which can change the type, magnitude, and relative mix of services provided by ecosystems. Trade-offs occur when the provision of one ES is reduced as a consequence of increased use of another ES. In some cases, a trade-off may be an explicit choice; but in others, trade-offs arise without premeditation or even awareness that they are taking place. Trade-offs in ES can be classified along three axes: spatial scale, temporal scale, and reversibility. Spatial scale refers to whether the effects of the trade-off are felt locally or at a distant location. Temporal scale refers to whether the effects take place relatively rapidly or slowly. Reversibility expresses the likelihood that the perturbed ES may return to its original state if the perturbation ceases. Across all four Millennium Ecosystem Assessment scenarios and selected case study examples, trade-off decisions show a preference for provisioning, regulating, or cultural services (in that order). Supporting services are more likely to be "taken for granted." Cultural ES are almost entirely unquantified in scenario modeling; therefore, the calculated model results do not fully capture losses of these services that occur in the scenarios. The quantitative scenario models primarily capture the services that are perceived by society as more important - provisioning and regulating ecosystem services - and thus do not fully capture trade-offs of cultural and supporting services. Successful management policies will be those that incorporate lessons learned from prior decisions into future management actions. Managers should complement their actions with monitoring programs that, in addition to monitoring the short-term provisions of services, also monitor the long-term evolution of slowly changing variables. Policies can then be developed to take into account ES trade-offs at multiple spatial and temporal scales. Successful strategies will

Trade-offs across Space, Time, and Ecosystem Services

Directory of Open Access Journals (Sweden)

Jon Paul. Rodríguez

2006-06-01

Full Text Available Ecosystem service (ES trade-offs arise from management choices made by humans, which can change the type, magnitude, and relative mix of services provided by ecosystems. Trade-offs occur when the provision of one ES is reduced as a consequence of increased use of another ES. In some cases, a trade-off may be an explicit choice; but in others, trade-offs arise without premeditation or even awareness that they are taking place. Trade-offs in ES can be classified along three axes: spatial scale, temporal scale, and reversibility. Spatial scale refers to whether the effects of the trade-off are felt locally or at a distant location. Temporal scale refers to whether the effects take place relatively rapidly or slowly. Reversibility expresses the likelihood that the perturbed ES may return to its original state if the perturbation ceases. Across all four Millennium Ecosystem Assessment scenarios and selected case study examples, trade-off decisions show a preference for provisioning, regulating, or cultural services (in that order. Supporting services are more likely to be "taken for granted." Cultural ES are almost entirely unquantified in scenario modeling; therefore, the calculated model results do not fully capture losses of these services that occur in the scenarios. The quantitative scenario models primarily capture the services that are perceived by society as more important - provisioning and regulating ecosystem services - and thus do not fully capture trade-offs of cultural and supporting services. Successful management policies will be those that incorporate lessons learned from prior decisions into future management actions. Managers should complement their actions with monitoring programs that, in addition to monitoring the short-term provisions of services, also monitor the long-term evolution of slowly changing variables. Policies can then be developed to take into account ES trade-offs at multiple spatial and temporal scales

Learning about social-ecological trade-offs

Directory of Open Access Journals (Sweden)

Diego Galafassi

2017-03-01

Full Text Available Trade-offs are manifestations of the complex dynamics in interdependent social-ecological systems. Addressing trade-offs involves challenges of perception due to the dynamics of interdependence. We outline the challenges associated with addressing trade-offs and analyze knowledge coproduction as a practice that may contribute to tackling trade-offs in social-ecological systems. We discuss this through a case study in coastal Kenya in which an iterative knowledge coproduction process was facilitated to reveal social-ecological trade-offs in the face of ecological and socioeconomic change. Representatives of communities, government, and NGOs attended two integrative workshops in which methods derived from systems thinking, dialogue, participatory modeling, and scenarios were applied to encourage participants to engage and evaluate trade-offs. Based on process observation and interviews with participants and scientists, our analysis suggests that this process lead to increased appreciation of interdependences and the way in which trade-offs emerge from complex dynamics of interdependent factors. The process seemed to provoke a reflection of knowledge assumptions and narratives, and management goals for the social-ecological system. We also discuss how stakeholders link these insights to their practices.

Trading price jump clusters in foreign exchange markets

Czech Academy of Sciences Publication Activity Database

Novotný, Jan; Petrov, D.; Urga, G.

2015-01-01

Roč. 24, June (2015), s. 66-92 ISSN 1386-4181 R&D Projects: GA ČR(CZ) GA14-27047S Institutional support: RVO:67985998 Keywords : price jumps * foreign exchange markets * trading Subject RIV: AH - Economics Impact factor: 1.726, year: 2015

Optimal trading based on ideal coordination

International Nuclear Information System (INIS)

Egeland, H.

1992-01-01

The author places more emphasis on the technical than on the economical aspects of trading with electric power. Calculation models which can be used to study this trade taking place under the influence of unequal preconditions in Denmark, Finland, Norway and Sweden are presented. It is suggested that trade between these countries is currently satisfactory and should be further developed. The advantages of standard contracts are mentioned. Forms of exchange of, for example, technology know-how between these Nordic countries in the process of connecting their distribution systems etc. would be most advantageous. (AB)

Intransparent Markets and Intra-Industry Trade

DEFF Research Database (Denmark)

Schmidt, Christian Gormsen

Buyers are typically unaware of the full set of offers when making a purchase. This paper examines how international trade interacts with this problem of market intransparency. Sellers must communicate their offers through costly advertising, but cannot reach all buyers. Consequently, no market...... clearing price exists, and sellers randomize over an equilibrium price distribution. Letting sellers advertise their offers abroad leads to international trade, which would not take place under complete information. Buyers then receive more offers, leading to lower prices and welfare gains. Sellers...... in the model are identical, but appear heterogeneous due to their price randomization. In larger and more open economies, prices and markups will be lower, and exports are primarily realized by sellers who charge low prices. These predictions are similar to those of trade models where firm heterogeneity...

Testing Software Development Project Productivity Model

Science.gov (United States)

Lipkin, Ilya

Software development is an increasingly influential factor in today's business environment, and a major issue affecting software development is how an organization estimates projects. If the organization underestimates cost, schedule, and quality requirements, the end results will not meet customer needs. On the other hand, if the organization overestimates these criteria, resources that could have been used more profitably will be wasted. There is no accurate model or measure available that can guide an organization in a quest for software development, with existing estimation models often underestimating software development efforts as much as 500 to 600 percent. To address this issue, existing models usually are calibrated using local data with a small sample size, with resulting estimates not offering improved cost analysis. This study presents a conceptual model for accurately estimating software development, based on an extensive literature review and theoretical analysis based on Sociotechnical Systems (STS) theory. The conceptual model serves as a solution to bridge organizational and technological factors and is validated using an empirical dataset provided by the DoD. Practical implications of this study allow for practitioners to concentrate on specific constructs of interest that provide the best value for the least amount of time. This study outlines key contributing constructs that are unique for Software Size E-SLOC, Man-hours Spent, and Quality of the Product, those constructs having the largest contribution to project productivity. This study discusses customer characteristics and provides a framework for a simplified project analysis for source selection evaluation and audit task reviews for the customers and suppliers. Theoretical contributions of this study provide an initial theory-based hypothesized project productivity model that can be used as a generic overall model across several application domains such as IT, Command and Control

LNG trade preparations are a decade too soon

Energy Technology Data Exchange (ETDEWEB)

Timm, S [Mar. Week; Faridany, E; Mitchell, P

1979-03-01

A discussion of papers delivered at the 6th International LNG/LPG, Gastech 78, Conference (Monte Carlo 11/7-10/78) covers an estimate by E. Faridany (Ocean Phoenix Transp. Inc.) that in 1981-85, world trade in LNG would increase by 1775 million cu ft/day (Mcfd) over the current 2720 Mcfd, but of this increment only the 460 Mcfd Panhandle project using Lake Charles, La., as a regasification terminal will be into the U.S. while all other trade will be to Europe. Of the present LNG trade, 48Vertical Bar3< goes to Japan from the Brunei (535 Mcfd, the world's largest) and Abu Dhabi projects, and only 20Vertical Bar3< goes to the U.S. Faridany's estimates of U.S. LNG imports in 1990 vary from the 8215 Mcfd ''high'' to the ''median'' forecast of 2930 Mcfd; he predicted that the proportion of incremental sources of gas supply taken up by LNG in 1990 is only 20-40Vertical Bar3< for the U.S., compared with 25Vertical Bar3< for Europe and 90Vertical Bar3< for Japan. According to P. Mitchell (Poten and Partners), world demand for LPG could rise from 9 million to 38 million tons in 1979-85.

A Case Study of the Accounting Models for the Participants in an Emissions Trading Scheme

Directory of Open Access Journals (Sweden)

Marius Deac

2013-10-01

Full Text Available As emissions trading schemes are becoming more popular across the world, accounting has to keep up with these new economic developments. The absence of guidance regarding the accounting for greenhouse gases (GHGs emissions generated by the withdrawal of IFRIC 3- Emission Rights - is the main reason why there is a diversity of accounting practices. This diversity of accounting methods makes the financial statements of companies that are taking part in emissions trading schemes like EU ETS, difficult to compare. The present paper uses a case study that assumes the existence of three entities that have chosen three different accounting methods: the IFRIC 3 cost model, the IFRIC 3 revaluation model and the “off balance sheet” approach. This illustrates how the choice of an accounting method regarding GHGs emissions influences their interim and annual reports through the chances in the companies’ balance sheet and financial results.

Strategic Investment and Trade in an Oligopolistic Setting

Directory of Open Access Journals (Sweden)

Ioana Veronica ALEXA

2013-08-01

Full Text Available This paper analyses the international trade dynamics between two countries as a two-player, non-zero sum, cooperative game. The reason behind this type of approach is that we consider game theory as an important instrument for the analysis of international trade dynamics. The model that we develop in this paper follows the multi-sectorial general-equilibrium model of oligopoly and trade. We will analyze the case where trade takes place because of oligopolistic interaction and comparative advantage. Even though we follow the general framework, the main departure from the existing models on the subject is that in our model both labor and capital are used in production and that the firms have a choice between specializing in labor or capital-intensive goods by choosing weather or not to invest in capital and therefore use two factors of production. As required by a general equilibrium model, we will try to establish an equilibrium on both labor and capital markets and we will try to determine the labor and capital intensity in both countries as well as the equilibrium level of the wage and rental rate.

75 FR 43919 - Energy and Infrastructure Mission to Saudi Arabia: Third City Stop Added to the Trade Mission...

Science.gov (United States)

2010-07-27

... and Dhahran; and Networking receptions in two cities of the trade mission. Proposed Mission Timetable... Saudi Arabia: Third City Stop Added to the Trade Mission Itinerary AGENCY: International Trade... expansion at Jubail Industrial City II with around 20 petrochemical and infrastructure projects worth more...

Legal frameworks for emissions trading in the European Union

Energy Technology Data Exchange (ETDEWEB)

Maeaettae, K.; Anttonen, K. (Univ. of Joensuu (Finland)). Email: kalle.maatta@joensuu.fi; Upston-Hooper, K. (GreenStream Networks, Helsinki (Finland)); Mehling, M. (Univ. of Greifswald (Germany)); Perrels, A. (Government Institute for Economic Research VATT, Helsinki (Finland)), email: adriaan.perrels@vatt.fi

2009-07-01

The project is based on a comparative and pragmatic review of the legal frameworks for implementing the EU Emission Trading Scheme (ETS) in four EU jurisdictions (Finland, Sweden, United Kingdom and Germany). The project does not seek to examine the rationale of utilizing tradable mechanisms nor assess the costs and benefits of doing so. Its primary focus is to undertake a detailed study of the legal realities involved in implementing the EU ETS, particularly those issues of commercial importance such as taxation and accounting rules. The methodology adopted has been to formulate a comprehensive questionnaire (of approximately 70 questions) to be used as the basis of national reports together with a stand alone analysis by VATT, and in turn use the national reports and VATT study as the building blocks of a comparative overview report. The questionnaire seeks to highlight those significant legal and regulatory issues that impact on the establishment of emission allowance trading arrangements within the respective jurisdictions. The comparative analysis of these issues will focus on 'golden threads' of similarity and difference that impact on the establishment of an internal market within the European Union for the trading of emissions allowances. (orig.)

Legal frameworks for emissions trading in the European Union

International Nuclear Information System (INIS)

Upston-Hooper, K.; Perrells, A.; Anttonen, K.; Mehling, M.

2007-01-01

The Project is based on a comparative and pragmatic review of the legal frameworks for implementing the EU Emission Trading Scheme (ETS) in four EU jurisdictions (Finland, Sweden, United Kingdom and Germany). The Project does not seek to examine the rationale of utilizing tradable mechanisms nor assess the costs and benefits of doing so. Its primary focus is to undertake a detailed study of the legal realities involved in implementing the EU ETS, particularly those issues of commercial importance such as taxation and accounting rules. The methodology adopted has been to formulate a comprehensive questionnaire (of approximately 70 questions) to be used as the basis of national reports together with a stand alone analysis by VATT, and in turn use the national reports and VATT study as the building blocks of a comparative overview report. The questionnaire seeks to highlight those significant legal and regulatory issues that impact on the establishment of emission allowance trading arrangements within the respective jurisdictions. The comparative analysis of these issues will focus on 'golden threads' of similarity and difference that impact on the establishment of an internal market within the European Union for the trading of emissions allowances. (orig.)

TradeWind Deliverable 5.1: Effects of increasing wind power penetration on the power flows in European grids

DEFF Research Database (Denmark)

Lemström, Bettina; Uski-Joutsenvuo, Sanna; Holttinen, Hannele

2008-01-01

This report presents the main activities and results of Work Package 5 – Effects of increasing wind power penetration on the power flows in European grids in the TradeWind project. VTT is the leader of Work Package 5 and carries the overall responsibility of this report. The work is based on power...... flow simulations with a grid and market model developed in TradeWind Work Package 3, led by Sintef Energy Research. VTT, Sintef Energy Research and Risø have carried out the simulations of the different scenarios, analysed the results and written Chapter 4 about the impact of wind power on cross...

K3 projective models in scrolls

CERN Document Server

Johnsen, Trygve

2004-01-01

The exposition studies projective models of K3 surfaces whose hyperplane sections are non-Clifford general curves. These models are contained in rational normal scrolls. The exposition supplements standard descriptions of models of general K3 surfaces in projective spaces of low dimension, and leads to a classification of K3 surfaces in projective spaces of dimension at most 10. The authors bring further the ideas in Saint-Donat's classical article from 1974, lifting results from canonical curves to K3 surfaces and incorporating much of the Brill-Noether theory of curves and theory of syzygies developed in the mean time.

Vulnerability to shocks in the global seafood trade network

Science.gov (United States)

Gephart, Jessica A.; Rovenskaya, Elena; Dieckmann, Ulf; Pace, Michael L.; Brännström, Åke

2016-03-01

Trade can allow countries to overcome local or regional losses (shocks) to their food supply, but reliance on international food trade also exposes countries to risks from external perturbations. Countries that are nutritionally or economically dependent on international trade of a commodity may be adversely affected by such shocks. While exposure to shocks has been studied in financial markets, communication networks, and some infrastructure systems, it has received less attention in food-trade networks. Here, we develop a forward shock-propagation model to quantify how trade flows are redistributed under a range of shock scenarios and assess the food-security outcomes by comparing changes in national fish supplies to indices of each country’s nutritional fish dependency. Shock propagation and distribution among regions are modeled on a network of historical bilateral seafood trade data from UN Comtrade using 205 reporting territories grouped into 18 regions. In our model exposure to shocks increases with total imports and the number of import partners. We find that Central and West Africa are the most vulnerable to shocks, with their vulnerability increasing when a willingness-to-pay proxy is included. These findings suggest that countries can reduce their overall vulnerability to shocks by reducing reliance on imports and diversifying food sources. As international seafood trade grows, identifying these types of potential risks and vulnerabilities is important to build a more resilient food system.

A hybrid input–output multi-objective model to assess economic–energy–environment trade-offs in Brazil

International Nuclear Information System (INIS)

Carvalho, Ariovaldo Lopes de; Antunes, Carlos Henggeler; Freire, Fausto; Henriques, Carla Oliveira

2015-01-01

A multi-objective linear programming (MOLP) model based on a hybrid Input–Output (IO) framework is presented. This model aims at assessing the trade-offs between economic, energy, environmental (E3) and social objectives in the Brazilian economic system. This combination of multi-objective models with Input–Output Analysis (IOA) plays a supplementary role in understanding the interactions between the economic and energy systems, and the corresponding impacts on the environment, offering a consistent framework for assessing the effects of distinct policies on these systems. Firstly, the System of National Accounts (SNA) is reorganized to include the National Energy Balance, creating a hybrid IO framework that is extended to assess Greenhouse Gas (GHG) emissions and the employment level. The objective functions considered are the maximization of GDP (gross domestic product) and employment levels, as well as the minimization of energy consumption and GHG emissions. An interactive method enabling a progressive and selective search of non-dominated solutions with distinct characteristics and underlying trade-offs is utilized. Illustrative results indicate that the maximization of GDP and the employment levels lead to an increase of both energy consumption and GHG emissions, while the minimization of either GHG emissions or energy consumption cause negative impacts on GDP and employment. - Highlights: • A hybrid Input–Output multi-objective model is applied to the Brazilian economy. • Objective functions are GDP, employment level, energy consumption and GHG emissions. • Interactive search process identifies trade-offs between the competing objectives. • Positive correlations between GDP growth and employment. • Positive correlations between energy consumption and GHG emissions

Models for financial crisis detection in Indonesia based on bank deposits, real exchange rate and terms of trade indicators

Science.gov (United States)

Sugiyanto; Zukhronah, Etik; Nur Aini, Anis

2017-12-01

Several times Indonesia has experienced to face a financial crisis, but the crisis occurred in 1997 had a tremendous impact on the economy and national stability. The impact of the crisis fall the exchange rate of rupiah against the dollar so it is needed the financial crisis detection system. Some data of bank deposits, real exchange rate and terms of trade indicators are used in this paper. Data taken from January 1990 until December 2016 are used to form the models with three state. Combination of volatility and Markov switching models are used to model the data. The result suggests that the appropriate model for bank deposit and terms of trade is SWARCH (3,1), and for real exchange rates is SWARCH (3,2).

Comparison of additive (absolute) risk projection models and multiplicative (relative) risk projection models in estimating radiation-induced lifetime cancer risk

International Nuclear Information System (INIS)

Kai, Michiaki; Kusama, Tomoko

1990-01-01

Lifetime cancer risk estimates depend on risk projection models. While the increasing lengths of follow-up observation periods of atomic bomb survivors in Hiroshima and Nagasaki bring about changes in cancer risk estimates, the validity of the two risk projection models, the additive risk projection model (AR) and multiplicative risk projection model (MR), comes into question. This paper compares the lifetime risk or loss of life-expectancy between the two projection models on the basis of BEIR-III report or recently published RERF report. With Japanese cancer statistics the estimates of MR were greater than those of AR, but a reversal of these results was seen when the cancer hazard function for India was used. When we investigated the validity of the two projection models using epidemiological human data and animal data, the results suggested that MR was superior to AR with respect to temporal change, but there was little evidence to support its validity. (author)

A Branding and Marketing Plan for a Trade Union

OpenAIRE

Pihonen-Randla, Marjut

2015-01-01

The purpose of this thesis project was to define a branding and a marketing plan based on study and research into successful brands and marketing strategies. The goal was to increase visibility by creating a cohesive brand image and to define a marketing plan to suit this purpose. This project looked into trade unions in Finland and how they conduct marketing. This project also looked into research that was available of target audiences for client website and Facebook site. The client...

Plurilateral Trade Deals: An Alternative for Multilateral Trade Agreements?

Directory of Open Access Journals (Sweden)

Agnes Ghibuțiu

2016-04-01

Full Text Available While multilateral trade negotiations under the World Trade Organization (WTO continue to be in impasse, plurilateral trade negotiations – i.e. among a group of WTO members – have intensified in recent years, and also recorded a series of concrete results in liberalizing specific sectors of international trade. Hence, there is a widely shared view that plurilateral trade negotiations could be an alternative for the multilateral ones. This paper aims to answer the following questions: What are plurilateral trade agreements? Which are the reasons behind the surge in plurilateral negotiations in recent years? What are the main achievements in liberalizing trade at the plurilateral level? What are the advantages of plurilateral negotiations relative to multilateral ones, and why are they considered an attractive alternative for negotiations at the multilateral level?

Examining current or future trade-offs for biodiversity conservation in north-eastern Australia.

Science.gov (United States)

Reside, April E; VanDerWal, Jeremy; Moilanen, Atte; Graham, Erin M

2017-01-01

With the high rate of ecosystem change already occurring and predicted to occur in the coming decades, long-term conservation has to account not only for current biodiversity but also for the biodiversity patterns anticipated for the future. The trade-offs between prioritising future biodiversity at the expense of current priorities must be understood to guide current conservation planning, but have been largely unexplored. To fill this gap, we compared the performance of four conservation planning solutions involving 662 vertebrate species in the Wet Tropics Natural Resource Management Cluster Region in north-eastern Australia. Input species data for the four planning solutions were: 1) current distributions; 2) projected distributions for 2055; 3) projected distributions for 2085; and 4) current, 2055 and 2085 projected distributions, and the connectivity between each of the three time periods for each species. The four planning solutions were remarkably similar (up to 85% overlap), suggesting that modelling for either current or future scenarios is sufficient for conversation planning for this region, with little obvious trade-off. Our analyses also revealed that overall, species with small ranges occurring across steep elevation gradients and at higher elevations were more likely to be better represented in all solutions. Given that species with these characteristics are of high conservation significance, our results provide confidence that conservation planning focused on either current, near- or distant-future biodiversity will account for these species.

CORECT: Committee On Renewable Energy Commerce and Trade, 1991

Science.gov (United States)

1992-12-01

An overview of the activities of CORECT (Committee on Renewable Energy, Commerce and Trade) for 1991 is presented as a series of highlights and photographs of projects underway in Mexico, Guatemala, Montserrat, Indonesia, Thailand, Malaysia, and others.

Trade Liberalization and the Degree of Competition in International Duopoly

DEFF Research Database (Denmark)

Ashournia, Damoun; Hansen, Per Svejstrup; Hansen, Jonas Worm

2013-01-01

This paper analyzes how a reduction in trade costs influences the possibility for firms to engage in international cartels, and hence how trade liberalization affects the degree of competition. We consider a particular intra-industry trade model amended to allow for firms producing differentiated...... products. Our main finding is that trade liberalization may have an anti-competitive effect. We find that there is no unique relation between a reduction in trade costs and the degree of competition. When products are differentiated, a lowering of trade costs is pro-competitive if trade costs are initially...... high, but anti-competitive if trade costs initially are low. Hence, trade policy is not necessarily a substitute for competition policy...

Asia-Pacific focus of coming LNG trade boom

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that the Asia-Pacific region remains the centerpiece of a booming world trade in liquefied natural gas. Biggest growth in LNG demand is expected from some of the region's strongest economies such as Japan, South Korea, and Taiwan, Key LNG exporters such as Brunei, Malaysia, and Indonesia are scrambling to implement projects to meet that expected demand growth. Uncertainties cloud the outlook for Far East LNG trade, Australia, for one, is more cautious in pressing expansion of its LNG export capacity as more competing LNG expansions spring up around the world, notably in the Middle East and Africa

Finding a pareto-optimal solution for multi-region models subject to capital trade and spillover externalities

Energy Technology Data Exchange (ETDEWEB)

Leimbach, Marian [Potsdam-Institut fuer Klimafolgenforschung e.V., Potsdam (Germany); Eisenack, Klaus [Oldenburg Univ. (Germany). Dept. of Economics and Statistics

2008-11-15

In this paper we present an algorithm that deals with trade interactions within a multi-region model. In contrast to traditional approaches this algorithm is able to handle spillover externalities. Technological spillovers are expected to foster the diffusion of new technologies, which helps to lower the cost of climate change mitigation. We focus on technological spillovers which are due to capital trade. The algorithm of finding a pareto-optimal solution in an intertemporal framework is embedded in a decomposed optimization process. The paper analyzes convergence and equilibrium properties of this algorithm. In the final part of the paper, we apply the algorithm to investigate possible impacts of technological spillovers. While benefits of technological spillovers are significant for the capital-importing region, benefits for the capital-exporting region depend on the type of regional disparities and the resulting specialization and terms-of-trade effects. (orig.)

Act locally, trade globally. Emissions trading for climate policy

Energy Technology Data Exchange (ETDEWEB)

none

2005-07-01

Climate policy raises a number of challenges for the energy sector, the most significant being the transition from a high to a low-CO2 energy path in a few decades. Emissions trading has become the instrument of choice to help manage the cost of this transition, whether used at international or at domestic level. Act Locally, Trade Globally, offers an overview of existing trading systems, their mechanisms, and looks into the future of the instrument for limiting greenhouse gas emissions. Are current markets likely to be as efficient as the theory predicts? What is, if any, the role of governments in these markets? Can domestic emissions trading systems be broadened to activities other than large stationary energy uses? Can international emissions trading accommodate potentially diverse types of emissions targets and widely different energy realities across countries? Are there hurdles to linking emissions trading systems based on various design features? Can emissions trading carry the entire burden of climate policy, or will other policy instruments remain necessary? In answering these questions, Act Locally, Trade Globally seeks to provide a complete picture of the future role of emissions trading in climate policy and the energy sector.

Currency Unions, Trade Flows, and Capital Flows

OpenAIRE

James Yetman

2003-01-01

Trade within currency unions has been shown to be much larger than outside of currency unions, even after factoring in many relevant variables. The existing empirical evidence is based on reduced form models of trade, and therefore indicates that there exists a high correlation between currency union membership and trade, but does not indicate the causality, or the mechanism at work. This paper argues that the balance of evidence points to a large and statistically significant causal relation...

The Position of Suitcase Trading in Turkey’s Foreign Trade and Growth-Suitcase Trading Connection

Directory of Open Access Journals (Sweden)

Sinem YAPAR SAÇIK

2013-12-01

Full Text Available Suitcase trading which is defined as a purchasing process of merchandises in a country that is implemented by travelers (nonresidents to sell those merchandises in their own country; it has started to take place in balance of payments of Turkey since 1996. After the collapse of USSR in 1991 Turkey became a net exporter in suitcase trading so the country reached significant figures occasionally. In this paper the position of suitcase trading in Turkey’s foreign trade is analyzed in consideration of statistical indicators. According to the findings acquired from the study, suitcase trading is a significant variable for Turkey to have currency and to close foreign deficits. Suitcase trading and growth connection is also analyzed by econometric method which is co-integration test and the result is affirmative. And also it is found that this connection is unilateral causation from growth towards suitcase trading according to the findings of Granger causality test

DEVELOPMENT STAGE OF RETAIL TRADE IN THE EUROPEAN UNION

Directory of Open Access Journals (Sweden)

Catana Adina

2012-07-01

Full Text Available According to Karel De Gucht, Trade Commissioner from the European Commission, trade is working for Europe's economic recovery by ensuring growth and jobs. The European renewed trade strategy will open markets and connect Europe to the main sources and regis of global growth. The aim is to ensure that European business gets a fair deal and that countries’ rights are respected so that all can enjoy the benefits of trade. Thanks to the ease of modern transport and communications, it is now easier to produce, buy and sell goods around the world which gives European companies of every size the potential to trade outside Europe. This paper’s objective is to analyse the development stage of the European Union’s retail, and its member countries. The study is based on the research taken in the project of PhD research with the theme: The impacts of Economic Integration on Romanian Retail. For my research I used data from Eurostat, National Statistical Institute, European Union official website In the past 10 years, the volume of retail trade in EU member states has increased, but the extent of the changes varies substantially from one country to another.

GENETICALLY MODIFIED CROPS: INTERNATIONAL TRADE AND TRADE POLICY EFFECTS

Directory of Open Access Journals (Sweden)

George Frisvold

2015-04-01

Full Text Available Where approved, producers have adopted genetically modified (GM crops extensively. Yet, areas not adopting GM crops account for large shares of production and consumption. GM crops differ from previous agricultural innovations because consumers may perceive them as fundamentally different from (and potentially inferior to conventionally grown crops. Many countries maintain restrictions on production and importation of GM crops. GM crop adoption affects producers and consumers, not only through technological change, but also through trade policy responses. This article reviews open economy analyses of impacts of GM crops. To varying degrees, commodities are segmented into GM, conventionally grown, and organic product markets. Recent advances in trade modeling consider the consequences of market segmentation, along with consequences of GM crop import restrictions, product segregation requirements, and coexistence policies.

Writ in water, lines in sand: Ancient trade routes, models and comparative evidence

Directory of Open Access Journals (Sweden)

Eivind Heldaas Seland

2015-12-01

Full Text Available Historians and archaeologists often take connectivity for granted, and fail to address the problems of documenting patterns of movement. This article highlights the methodological challenges of reconstructing trade routes in prehistory and early history. The argument is made that these challenges are best met through the application of modern models of connectivity, in combination with the conscious use of comparative approaches.

Propagation of crises in the virtual water trade network

Science.gov (United States)

Tamea, Stefania; Laio, Francesco; Ridolfi, Luca

2015-04-01

The international trade of agricultural goods is associated to the displacement of the water used to produce such goods and embedded in trade as a factor of production. Water virtually exchanged from producing to consuming countries, named virtual water, defines flows across an international network of 'virtual water trade' which enable the assessment of environmental forcings and implications of trade, such as global water savings or country dependencies on foreign water resources. Given the recent expansion of commodity (and virtual water) trade, in both displaced volumes and network structure, concerns have been raised about the exposure to crises of individuals and societies. In fact, if one country had to markedly decrease its export following a socio-economical or environmental crisis, such as a war or a drought, many -if not all- countries would be affected due to a cascade effect within the trade network. The present contribution proposes a mechanistic model describing the propagation of a local crisis into the virtual water trade network, accounting for the network structure and the virtual water balance of all countries. The model, built on data-based assumptions, is tested on the real case study of the Argentinean crisis in 2008-09, when the internal agricultural production (measured as virtual water volume) decreased by 26% and the virtual water export of Argentina dropped accordingly. Crisis propagation and effects on the virtual water trade are correctly captured, showing the way forward to investigations of crises impact and country vulnerability based on the results of the model proposed.

Integration, Trade Policy and European Footwear Trade

OpenAIRE

Winters, L. Alan

1992-01-01

This paper constructs a simulation model of the EC footwear market with which to consider the effects of EC trade policies. It examines the Southern enlargement of the EC, the quotas imposed on Korean and Taiwanese sales - initially in France and Italy and subsequently, in line with the `1992' programme, EC-wide - and the liberalization of imports from Eastern Europe. Import restrictions are shown to be costly - especially those against Eastern Europe.

Developing Project Duration Models in Software Engineering

Institute of Scientific and Technical Information of China (English)

Pierre Bourque; Serge Oligny; Alain Abran; Bertrand Fournier

2007-01-01

Based on the empirical analysis of data contained in the International Software Benchmarking Standards Group(ISBSG) repository, this paper presents software engineering project duration models based on project effort. Duration models are built for the entire dataset and for subsets of projects developed for personal computer, mid-range and mainframeplatforms. Duration models are also constructed for projects requiring fewer than 400 person-hours of effort and for projectsre quiring more than 400 person-hours of effort. The usefulness of adding the maximum number of assigned resources as asecond independent variable to explain duration is also analyzed. The opportunity to build duration models directly fromproject functional size in function points is investigated as well.

Intransparent Markets and Intra-Industry Trade

DEFF Research Database (Denmark)

Schmidt, Christian Gormsen

Buyers are typically unaware of the full set of offers when making a purchase. This paper examines how international trade interacts with this problem of market intransparency. Sellers must communicate their offers through costly advertising, but cannot reach all buyers. Consequently, no market...... in the model are identical, but appear heterogeneous due to their price randomization. In larger and more open economies, prices and markups will be lower, and exports are primarily realized by sellers who charge low prices. These predictions are similar to those of trade models where firm heterogeneity...

Multi-Agent Modeling in Managing Six Sigma Projects

Directory of Open Access Journals (Sweden)

K. Y. Chau

2009-10-01

Full Text Available In this paper, a multi-agent model is proposed for considering the human resources factor in decision making in relation to the six sigma project. The proposed multi-agent system is expected to increase the acccuracy of project prioritization and to stabilize the human resources service level. A simulation of the proposed multiagent model is conducted. The results show that a multi-agent model which takes into consideration human resources when making decisions about project selection and project team formation is important in enabling efficient and effective project management. The multi-agent modeling approach provides an alternative approach for improving communication and the autonomy of six sigma projects in business organizations.

The INTRACOIN model comparison project

International Nuclear Information System (INIS)

Lawson, G.

1982-01-01

The International Nuclide Transport Code Intercomparison (INTRACOIN) project is investigating the different models and associated computer codes describing the transport of radionuclides in flowing ground-water following the disposal of solid radioactive wastes in geologic formations. Level I of the project has shown good agreement in the numerical accuracy of most of the codes. In Level II the ability of the codes to model field experiments with radioactive tracers will be compared. Level III will show to what extent the adoption of different models and computer codes for the transport of radionuclides with ground water affects the results of repository assessments. (U.K.)

Frictions in Project-Based Supply of Permits

International Nuclear Information System (INIS)

Liski, M.; Virrankoski, J.

2004-01-01

Emissions trading in climate change can entail large overall cost savings and transfers between developed and developing countries. However, the search for acceptable JI or CDM projects implies a deviation from the perfect market framework used in previous estimations. Our model combines the search market for projects with a frictionless permit market to quantify the supply-side frictions in the CO2 market. We also decompose the effects of frictions into the effects of search friction, bargaining, and bilateralism. A calibration using previous cost estimates of CO2 reductions illustrate changes in cost savings and allocative implications

Environmental trade-offs of tunnels vs cut-and-cover subways

Science.gov (United States)

Walton, M.

1978-01-01

Heavy construction projects in cities entail two kinds of cost - internal cost, which can be defined in terms of payments from one set of parties to another, and external cost, which is the cost borne by the community at large as the result of disutilities entailed in construction and operation. Environmental trade-offs involve external costs, which are commonly difficult to measure. Cut-and-cover subway construction probably entails higher external and internal cost than deep tunnel construction in many urban geological environments, but uncertainty concerning the costs and environmental trade-offs of tunneling leads to limited and timid use of tunneling by American designers. Thus uncertainty becomes a major trade-off which works against tunneling. The reverse is true in Sweden after nearly 30 years of subway construction. Econometric methods for measuring external costs exist in principle, but are limited in application. Economic theory based on market pressure does not address the real problem of urban environmental trade-offs. Nevertheless, the problem of uncertainty can be addressed by comparative studies of estimated and as-built costs of cut-and-cover vs tunnel projects and a review of environmental issues associated with such construction. Such a study would benefit the underground construction industry and the design of transportation systems. It would also help solve an aspect of the urban problem. ?? 1978.

Trade Union Organisers in Trade Union Organising Strategies: building workplace unionism or reinforcing bureaucracy

OpenAIRE

Looker, Gerard

2015-01-01

This thesis considers the role of union full time officers in union organising strategies. Two decades of promoting union organising influenced by models developed by the AFL-CIO, has failed to arrest the decline of UK trade unions let alone produce evidence of renewal. Focusing mainly on one region in the UKs largest public sector trade union, Unison, the research provides for a detailed account of how organising strategies affect union work, presenting thick and deep data from full time off...

The ASEAN Free Trade Agreement: impact on trade flows and external trade barriers

OpenAIRE

Hector Calvo-Pardo; Caroline Freund; Emanuel Ornelas

2009-01-01

Using detailed data on trade and tariffs from 1992-2007, the authors examine how the ASEAN Free Trade Agreement has affected trade with nonmembers and external tariffs facing nonmembers. First, the paper examines the effect of preferential and external tariff reduction on import growth from ASEAN insiders and outsiders across HS 6-digit industries. The analysis finds no evidence that prefe...

POTENTIAL TRADE EFFECTS OF TARIFF LIBERALIZATION UNDER THE TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP (TTIP FOR THE EU AGRI-FOOD SECTOR

Directory of Open Access Journals (Sweden)

Agnieszka Poczta-Wajda

2017-06-01

Full Text Available  The aim of this article is to determine the potential trade effects of Transatlantic Trade and Investment Partnership (TTIP for the EU agri-food sector. The ex post analysis covered the characteristics of agri-food trade between the EU and the US in the years 2004–2014 on the basis of statistical data from the database of the World Bank WITS. The ex ante evaluation was carried out using SMART – a partial equilibrium model. The results of the study indicate that although bilateral agri-food trade relations of the EU–US have relatively little importance, but it is significant at the individual industries level. TTIP agreement, which includes the reduction of tariff barriers to agri-food trade between the EU and the US, will contribute to boosting bilateral agri-food trade to a greater extent for the US. The creation of a free trade produces mostly creation effect, whereby it will be asymmetric – concentrated in a few product groups.

Modeling the spatio-temporal dynamics of porcine reproductive & respiratory syndrome cases at farm level using geographical distance and pig trade network matrices.

Science.gov (United States)

Amirpour Haredasht, Sara; Polson, Dale; Main, Rodger; Lee, Kyuyoung; Holtkamp, Derald; Martínez-López, Beatriz

2017-06-07

Porcine reproductive and respiratory syndrome (PRRS) is one of the most economically devastating infectious diseases for the swine industry. A better understanding of the disease dynamics and the transmission pathways under diverse epidemiological scenarios is a key for the successful PRRS control and elimination in endemic settings. In this paper we used a two step parameter-driven (PD) Bayesian approach to model the spatio-temporal dynamics of PRRS and predict the PRRS status on farm in subsequent time periods in an endemic setting in the US. For such purpose we used information from a production system with 124 pig sites that reported 237 PRRS cases from 2012 to 2015 and from which the pig trade network and geographical location of farms (i.e., distance was used as a proxy of airborne transmission) was available. We estimated five PD models with different weights namely: (i) geographical distance weight which contains the inverse distance between each pair of farms in kilometers, (ii) pig trade weight (PT ji ) which contains the absolute number of pig movements between each pair of farms, (iii) the product between the distance weight and the standardized relative pig trade weight, (iv) the product between the standardized distance weight and the standardized relative pig trade weight, and (v) the product of the distance weight and the pig trade weight. The model that included the pig trade weight matrix provided the best fit to model the dynamics of PRRS cases on a 6-month basis from 2012 to 2015 and was able to predict PRRS outbreaks in the subsequent time period with an area under the ROC curve (AUC) of 0.88 and the accuracy of 85% (105/124). The result of this study reinforces the importance of pig trade in PRRS transmission in the US. Methods and results of this study may be easily adapted to any production system to characterize the PRRS dynamics under diverse epidemic settings to more timely support decision-making.

Search, Dealers, and the Terms of Trade

OpenAIRE

Gabriele Camera

2001-01-01

I study a search theoretic model with pairwise meetings where dealers arise endogenously. The extent of intermediation depends on its cost, trade frictions, and the dealers' ability to negociate favorable terms of trade. Under Nash bargaining, there is a unique equilibrium where dealers buy and hold the low-storage-cost good and, depending on their relative bargaining power, resell it at a premium or a discount. The distribution of the terms of trade is non-degenerate unless storage cost and ...

Trade liberalisation, resource sustainability and welfare

DEFF Research Database (Denmark)

Nielsen, Max

2006-01-01

that even though liberalising trade in products supplied by such a fishery might cause steady-state welfare reductions in the supplier countries, these welfare reductions are small compared to the welfare gains from a hypothetical change to optimal management. Hence, the introduction of better fisheries......Recent research has warned that liberalising trade in capture fish products originating from inefficiently managed fisheries might cause over-exploitation, reduced fish stocks and thereby a reduced steady-state of welfare. This paper qualifies the warning in a case study of the East Baltic cod...... market by developing an age-structured bio-economic supply model combined with basic theory of trade between two countries. Welfare effects of trade liberalisation are identified taking fishing quotas, input limitations, mesh-size regulations and shared ownership of stocks into account. It is shown...

Trade Facilitation Provisions in Regional Trade Agreements: Discriminatory or Non-discriminatory?

Directory of Open Access Journals (Sweden)

Innwon Park

2016-12-01

Full Text Available The RTAs with trade facilitation provisions have been expected to generate a larger net trade-creating effect and complement the discriminatory feature of RTAs but have yet to be empirically proven. Recognizing the limitations of existing studies, we conducted a quantitative analysis on the effects of RTAs with and without trade facilitation provisions on both intra- and extra-bloc trade by using a modified gravity equation. We applied the Poisson Pseudo-Maximum Likelihood (PPML estimation with time varying exporter and importer fixed effect method to panel data consisting of 45,770 country pairs covering 170 countries for 2000-2010. We found that the trade facilitation provisions in existing RTAs are non-discriminatory by generating more intra- and extra-bloc trade in general. In particular, we found that the trade effects of RTAs in the APEC region are much stronger than the general case covering all RTAs in the world. In addition, as we control the trade effect of a country's trade facilitation, which is ranked by the World Bank's logistic performance index, RTAs consisting of trade facilitation provisions are discriminatory for trade in final goods and non-discriminatory for trade in intermediate goods. Overall, we endeavor to "explain," instead of "hypothesizing," why most of the recent RTAs contain trade facilitation provisions, especially in light of the deepening regional interdependence through trade in parts and components under global value chains and support the necessity of multilateralizing RTAs by implementing non-discriminatory trade facilitation provisions.

Reduction of greenhouse gas in power industry by emission trading system

Energy Technology Data Exchange (ETDEWEB)

Lee, Eun Myung; Lee, Kee Hoon [Korea Energy Economics Institute, Euiwang (Korea)

1999-04-01

The rules governing their implementation and operation for implementing the Kyoto Protocol including emissions permit trading, project-based credit trading and the Clean Development Mechanism are to be decided at future talks. How these policies are eventually designed will determine the effectiveness of the Protocol. However, it has been passive and insufficient to deal with the Kyoto Protocol since there is no obligation on reduction of greenhouse gas emissions. Therefore, the issues on emissions permit trading are analyzed and the strategies for utilizing the Kyoto mechanism effectively are presented through reviewing the existing negotiation strategies. Moreover, how to use emissions permit trading in the power industry, the largest greenhouse gas emissions industry, is examined by dividing into two sections, domestic and abroad. (author). 62 refs., 2 figs., 42 tabs.

Trade union revitalisation

DEFF Research Database (Denmark)

Ibsen, Christian Lyhne; Tapia, Maite

2017-01-01

In this article, we review and assess research on the role of trade unions in labour markets and society, the current decline of unions and union revitalisation. The review shows three main trends. First, trade unions are converging into similar strategies of revitalisation. The ‘organising model...... their traditional strongholds of collective bargaining and corporatist policy-making. Second, research has shown that used strategies are not a panacea for success for unions in countries that pearheaded revitalisation. This finding points to the importance of supportive institutional frameworks if unions...... in adverse institutional contexts, can be effective when they reinvent their repertoires of contention, through political action or campaigning along global value chains....

Derivatives Trading and Negative Voting

OpenAIRE

Spamann, Holger

2012-01-01

This paper exposits a model of parallel trading of corporate securities (shares, bonds) and derivatives in which a large trader can sometimes profitably acquire securities with their corporate control rights for the sole purpose of reducing the corporations value and gaining on a net short position created through off-setting derivatives. At other times, the large trader profitably takes a net long position. The large trader requires no private information beyond its own trades. The problem i...