By means of an event study of stock market reactions to the announcement of the Olympic Games host cities, we find a significant and positive announcement effect of hosting the Summer Games, with a cumulative…
This paper constitutes – to our best knowledge – the first econometric analysis on stock market effects of the EU Emission Trading Scheme (EU ETS). Our results suggest that EU Emission Allowance (EUA) price…
Today, more than 70% of the world's total electricity production is supplied by power plants using conventional fossil fuels. Coal accounts for more than half of the fossil fuel combustion in electricity plants.…
We present evidence for a highly significant interaction between state dependence in individual unemployment risk and the business cycle. The disadvantage from having been unemployed in the previous period is…
Based on a theoretical framework on custodial and non-custodial sentencing, the paper provides econometric tests on the effectiveness of police, public prosecution and courts. Using a unique dataset covering…
This study develops a reform proposal for the future revenue system of the EU budget. The findings strongly reject the idea that a reform based on an EU tax-based own resource would remedy current problems. …
The vital importance of maritime transport has already been recognised in the White Paper of the European Commission on European transport policy as well as in the Community guidelines on State aid to maritime…
