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Keywords Tax evasion; Socio-economic networks; Game theory Abstract This paper builds on recent insights from network theory and on the rich dataset made available by the Panama Papers in order to investigate the micro-economic dynamics of tax-evasion. We model offshore financial entities documented in the Panama Papers as links between jurisdictions in the global network of tax evasion. A quantitative analysis shows that the resulting network, far from being a random collection of bilateral links, has key features of complex networks such as a core-periphery structure and a fat-tail degree distribution. We argue that these structural features imply that policy must adopt a systemic perspective to mitigate tax evasion. We offer three sets of insights from this perspective. First, we identify through centrality measures tax havens that ought to be priority policy targets. Second, we show that efficient tax treaties must contain exchange information clauses and link tax-havens to non-haven jurisdictions. Third, we show that the optimal deterrence strategies for a social-planner facing a strategic tax-evader in a Stackelberg competition can be characterized using the notion of Bonacich centrality. Author Affiliation: (a) Ca Foscari University of Venice and Paris 1 Pantheon-Sorbonne, France (b) Paris School of Economics and Paris 1 Pantheon-Sorbonne, France * Corresponding author. Article History: Received 3 November 2020; Revised 10 January 2022; Accepted 26 March 2022 (footnote)[white star] This project has received funding from the ITN ExSIDE European Union's Horizon 2020 research and innovation programme under the Marie Sklodowska-Curie grant agreement No 721846 and from the ITN EPOC European Union's Horizon 2020 research and innovation programme under the Marie Sklodowska-Curie grant agreement No 956107. Byline: Garcia Alvarado Fernando [fernando.garcia@unive.it] (a), Mandel Antoine [antoine.mandel@univ-paris1.fr] (*,b)

Increasing levels of variable renewable energy require additional flexible resources in the global energy system. In countries with energy-intensive industries, flexibility may be increased through industrial demand side management (IDSM). In most studies, the potential of IDSM is estimated from a technical or theoretical viewpoint. However, IDSM capacity is only utilized if the industry finds it profitable, and thus the economic potential should also be assessed. The focus of this paper is on the intra-day IDSM potential of a paper mill site that is active in the Nordic power market. An optimization model is built to estimate the costs that occur when the paper mill executes regulating power bids, if the original production schedule has been optimized against a spot price forecast. The costs are estimated for different sizes of bids and a marginal cost curve is provided for pricing them. Using this marginal cost curve, the market potential of the case mill site is assessed. It is found that this potential is greatly influenced by the costs of executing regulating power bids. The results indicate that transmission system operators and policy makers should account for economic factors when assessing the potential of market based IDSM. [ABSTRACT FROM AUTHOR]

Keywords Expropriations and confiscations; Offshore entities; Tax havens; Panama Papers Abstract We study a motive for why individuals may hide wealth in offshore entities that has received scant attention in the academic literature and the public debate: the fear of expropriation. We use the Panama Papers and data on media reporting on expropriations and property confiscations. We document that such news reports increase the probability that offshore entities are incorporated by agents from the same country in the same month. This result is robust to the use of country-year- and month-fixed effects and the exclusion of tax havens. The effect is stronger in countries with well-functioning governments. We argue that individuals start hiding their proceeds from illegal activities in offshore entities when reasonably well-intended and well-functioning governments become more serious about law enforcement. Author Affiliation: (a) School of Economics, University of Adelaide, Australia (b) Department of Economics, University of St. Gallen, Switzerland (c) CEPR, United Kingdom (d) CESifo, Germany (e) Department of Economics and SoDa Labs, Monash University, Australia (f) Department of Economics, University of St. Gallen, Switzerland * Corresponding author. Article History: Received 14 August 2019; Revised 21 December 2019; Accepted 3 January 2020 Byline: Ralph-C. Bayer [ralph.bayer@adelaide.edu.au] (a), Roland Hodler [roland.hodler@unisg.ch] (b,c,d), Paul A. Raschky [paul.raschky@monash.edu] (*,e), Anthony Strittmatter [anthony.strittmatter@unisg.ch] (f)

Keywords Citation; Publication timing; Year-end; Search engine Abstract The present research reveals that academic papers published at year-end on average receive systematically fewer citations than papers published at other times in the year. Using more than 200,000 papers in economics published between 1956 and 2010, the results of our analysis show that papers published between October and December on average get as much as 18.5% fewer citations than those published in the other months in the year. We refer to this phenomenon as the citation trap as there is no evidence that papers published at different times in the year differ in their academic quality. We propose that the current effect could arise because of the time window options in most online academic search engines: the specific setting of those options leads papers published at year-end to appear in the engines' search results for a systematically shorter period of time as compared to papers published at other months in the year. Our analysis reveals evidence that is consistent with the proposed mechanism and that rules out several alternative explanations. Implications of the current research for academia and possible solutions to mitigate the citation trap are discussed. Author Affiliation: (a) School of Public Health, Southeast University, No.87, Dingjiaqiao Road, Nanjing, 210009, China (b) School of Public Health, Yale University, U.S (c) Department of Marketing and International Business, SEK101, 1/F Simon and Eleanor Kwok Building, Lingnan University, Tuen Mun, Hong Kong, China (d) School of Public Economics and Administration, Shanghai University of Finance and Economics, No.777, Guoding Road, Shanghai, 200433, China (e) Faculty of Business Administration, University of Macau, E22, Avenida da Universidade, Macau, Taipa, China * Corresponding author. Article History: Received 27 December 2018; Revised 30 July 2019; Accepted 9 August 2019 Byline: Chao Ma [machao@seu.edu.cn] (a,b), Yiwei Li [victor.li@ln.edu.hk] (c), Feng Guo [guo.feng@mail.sufe.edu.cn] (d,*), Kao Si [kaosi@um.edu.mo] (e)

Keywords Dynamic risk; Reinforcement effect; History-dependent preferences; Prospect theory; Realization effect Abstract We conduct a large-scale test of dynamic risk preferences. While most of the literature on dynamic risk restricts attention to positively skewed gambles, subjects in our experiment tend to choose negatively skewed lotteries. This allows us to study dynamic risk preferences in an environment that the literature has not analyzed. We find evidence of the reinforcement effect--individuals take on more risk after a gain and take on less risk after a loss. Furthermore, we exogenously vary whether these outcomes are 'realized' or on paper, according to the distinction put forth by Imas (2016). We find little difference in the responses to realized and paper outcomes in environments of negatively skewed risk. Author Affiliation: Department of Economics, Stanford University, 579 Serra Mall, Stanford, CA 94305, USA Article History: Received 1 May 2018; Revised 18 March 2019; Accepted 19 March 2019 Byline: Kirby Nielsen [http://www.kirbyknielsen.com]

Highlights: [•] The waste generated by the suppliers of the Spanish paper industry is estimated. [•] An Economic Input Output Life Cycle Assessment Models (IO-LCA) is employed. [•] No direct relationship between impact on output and on waste generation was found. [•] The major contributors to waste generation were mining and forestry. [ABSTRACT FROM AUTHOR]

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jue.2015.06.003 Byline: Octavio Figueiredo, Paulo Guimaraes, Douglas Woodward Abstract: This paper investigates Alfred Marshall's hypothesis that knowledge spillovers increase where industries are localized. At the same time, we take a fresh look at the role of distance in the diffusion of knowledge spillovers. Relying on a cited-citing gravity-like equation with high-dimensional fixed effects that control for multiple sources of observed and non-observed heterogeneity, we implement a Poisson pseudo-maximum-likelihood (PPML) estimator. We find that knowledge spillovers correlate positively with industry localization and that the agglomeration of an industry can offset the adverse effect of distance. The results also corroborate the distance decay effect uncovered in earlier research. Our new approach to estimate the PPML with two high-dimensional fixed effects should prove valuable in applications to a variety of other problems in economics, such as the estimation of gravity equations widely used in modeling migration, trade and other flows among countries and regions. Article History: Received 19 February 2014; Revised 25 June 2015

Abstract: To overcome declining markets and low-cost competition, Canadian pulp and paper (P&P) mills are considering the diversification of their product platform. Investing in bioenergy is emerging as a promising way to boost the sector. In this paper, we present a mathematical programming approach to evaluate the profitability of bioenergy investments in the case of a P&P mill, while assessing technical and associated economic risks. The mill, called the integrated forest biorefinery (IFBR), could produce a set of high-value bioproducts from biomass generated in the mill or supplied from outside. P&P activity generates residues, such as black liquor and pulp sludge, which could be used to produce bioenergy. P&P activity should then be well managed, by considering the possibility of temporarily stopping the production of P&P, while assuming the costs associated with the shutdowns. The objective is to develop a mathematically-based approach for investors and stakeholders, within the forest sector that aims to optimise the value creation network of the IFBR and to maximise the profitability of future investments in bioenergy, while optimising the existing P&P activity. [Copyright &y& Elsevier]

Abstract: As a significant fraction of municipal solid waste, waste paper is a potential source for producing bioethanol. In the present paper, bioethanol production from various waste papers (newspaper, office paper, cardboard and magazine) using an enzyme complex (Cellic Ctec 1) was evaluated from an economic standpoint. Four bases cases without pre-treatment and two state-of-the-art cases (including dilute acid pre-treatment for office paper and oxidative lime pre-treatment for newspaper) were constructed using laboratory experimental data, literature values, expert consultations and simulation using AspenPlus™. Several scenarios were also carried out to assess the sensitivity of various technology parameters (i.e. solids loading in saccharification, anaerobic digestion and fermentation efficiency, and sugar yields in pre-treatment). The sensitivity analysis suggested that the economic performance of bioethanol produced from waste paper could be improved significantly with an up to 25% reduction in minimum ethanol selling price (MESP) by increasing solids loading in saccharification and with a 6% reduction in MESP by enhancing fermentation efficiency. The comparison of the bioethanol selling price at pump (reference year 2009) and the petrol price showed bioethanol produced from newspaper, office paper and cardboard were economically competitive with petrol. [Copyright &y& Elsevier]

Abstract: The use of scholarly publications that have not been formally published in e.g. journals is widespread in some fields. In the past they have been disseminated through various channels of informal communication. However, the Internet has enabled dissemination of these un-published and often unrefereed publications to a much wider audience. This is particularly interesting seen in relation to the highly disputed open access advantage as the potential advantage for low visibility publications has not been given much attention in the literature. The present study examines the role of working papers in economics during a 10-year period (1996–2005). It shows that working papers are increasingly becoming visible in the field specific databases. The impact of working papers is relatively low; however, high impact working paper series have citation rate levels similar to the low impact journals in the field. There is no tendency to an increase in impact during the 10 years which is the case for the high impact journals. Consequently, the result of this study does not provide evidence of an open access advantage for working papers in economics. [Copyright &y& Elsevier]

Abstract: Objectives: There is an important need to evaluate therapeutic approaches for osteoarthritis (OA) in terms of cost-effectiveness as well as efficacy. Methods: The ESCEO expert working group met to discuss the epidemiological and economic evidence that justifies the increasing concern of the impact of this disease and reviewed the current state-of-the-art in health economic studies in this field. Results: OA is a debilitating disease; it is increasing in frequency and is associated with a substantial and growing burden on society, in terms of both burden of illness and cost of illness. Economic evaluations in this field are relatively rare, and those that do exist, show considerable heterogeneity of methodological approach (such as indicated population, comparator, decision context and perspective, time horizon, modeling and outcome measures used). This heterogeneity makes comparisons between studies problematic. Conclusions: Better adherence to guidelines for economic evaluations is needed. There was strong support for the definition of a reference case and for what might constitute “standard optimal care” in terms of best clinical practice, for the control arms of interventional studies. [Copyright &y& Elsevier]

Abstract: The Scandinavian mechanical pulp and paper industry has been facing great challenges during the past decades, mainly because of declining demand for newsprint, and higher prices on raw material and energy. One way of increasing profitability is to produce more value-added products besides the production of pulp and paper. In this study, integration potentials of three possible future biomass gasification-based energy mills with an existing thermo-mechanical pulp (TMP) mill, co-located with a sawmill, have been evaluated. The product gas was utilized for electricity production in a gas turbine, for production of methanol or for production of Fischer–Tropsch (FT) liquids. Integration of the energy mills showed good potential as the TMP mill constitutes a heat sink for which the excess heat from the energy mills can be utilized all year round. However, since there is little excess heat from the TMP mill at the required level to be utilized for biomass drying, for example, heat integration is typically one way. It has also been shown that integration of biomass gasification with a TMP mill results in larger CO2 emissions reduction than stand-alone operation. Still, compared to co-firing biomass in a coal power plant, the energy mills all have lower potentials for CO2 emissions reduction. [Copyright &y& Elsevier]

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jeem.2015.12.002

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To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/S0304-3932(15)00106-3

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jeem.2015.09.001

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This study investigates how exposure to a field of study influences students’ major choices. If students have incomplete information, exposure potentially helps them to learn about the scope of a field as well as how well the field matches their interest and abilities. We exploit a natural experiment where university students have to write a research paper in business, economics, or law during their first year before they choose a major. Due to oversubscription of business papers, the field of the paper is assigned quasi-randomly. We find that writing in economics raises the probability of majoring in economics by 2.7 percentage points. We show further that this effect varies across subfields: the effect is driven by assignment to topics less typical of the public's perception of the field of economics, suggesting students learn through exposure that the field is broader than they thought. [ABSTRACT FROM AUTHOR]

A comprehensive case study of Mumbai (Bombay), India was undertaken to investigate the economic, social and environmental impact of international trade of waste paper for recycling purposes between industrialized and developing countries. Analysis of a Western approach vis-a-vis informal policy for waste paper recovery concludes that employment is maximum under informal policy measure and public response playsan important role in maintaining environmental quality. The study further shows that income inequality is more under informal policy, andwithout policy public cost will increase continuously in the future.The net present value of the informal policy is found to be higher than that for the formal policy. Econometric study on input substitution in the Indian paper industry suggests limited substitution possibilities between domestic and imported waste paper. Results from a static material balance flow model indicate that environmental impacts are less with increased trade and economically the paper sector in India benefits from free trade. Based upon the results of the study, somepolicy recommendations have been made that may enhance the efficiency of waste paper recycling in India. [ABSTRACT FROM AUTHOR]

The Optimal Fibre Flow Model, a combined optimization and simulationmodel, calculates the optimal combination of energy recovery and recycling of waste paper for paper and board production. In addition, the environmental impact is estimated by using an environment load unit-index (ELU-index). The ELU-index assigns an environmental load valueto emissions and to the use of non-renewable resources such as oil and coal. Given a 'forced' utilization rate for the Scandinavian forest industry, optimization of marginal revenue shows environmental impact to be at a minimum with a utilization rate of about 30% in Scandinavia and 73% (an assumed upper limit) for the rest of Europe. If instead environmental impact is minimized, the utilization rate for Scandinavia is almost the same, while the utilization rate for the rest ofEurope is 53% (a lower assumed level). Given a fixed use of virgin fibres for the rest of Western Europe, a comparison of the environmental load at different 'forced' utilization rates for the Scandinavian forest industry shows no significant differences between the economicand environmental optimizations. [ABSTRACT FROM AUTHOR]

Rotogravure printing is the preferred method when large print runs are required, such as for catalogues. Penetration of ink into the paper is not desirable as this increases the amount of ink needed to obtain a certain print density. Thus the differences in ink demand between different papers have a significant impact on the economics of the process. In order to control the ink penetration, paper is often coated with a thin layer of kaolin clay. The extent of penetration depends on the structure of this coating and the characteristics of the ink used.High spatial resolution gallium ion SIMS has been used to study ink penetration by embedding the paper in resin and imaging in cross-section, as well as depth profiling the ink film on the paper. For inks that react with the embedding resin however, the former technique fails. More recently, focused ion beam (FIB) cross-sections were used to visualise the penetration of ink into the paper. The more conductive nature of the ink used here compared with the coating gave high contrast between them, allowing easy assessment of the penetration. Results obtained from this method on paper with two different coatings were consistent with print gloss, print density and size of the printed dots. Ink is seen to have penetrated further into a paper coating with a ‘blocky’ morphology than one with a ‘platey’ morphology. This is consistent with the smaller dot area, lower print gloss and lower print density achieved on the blocky paper coating. TEM sections were obtained using the FIB with ex situ lift-out, providing a more direct view of the ink-paper interface. [Copyright &y& Elsevier]

Abstract: The present study was performed to explore a new approach to systematization of the management of paper-based clinical pathways by developing a new system requiring little capital investment. A new system was developed and incorporated into an existing network at a hospital with a paper-based clinical pathway management system. The effectiveness of this new system was examined by comparing the management efficiency of clinical pathways before and after its introduction, and by comparison of the new system with other such systems currently in place at other medical institutions with regard to efficiency. In addition, the acceptability of the system for other medical institutions was examined by providing free access to the software on the Internet. The development costs of the new system were low. Although the new system has been in place for more than 3 years, no problems have yet been encountered in either the existing network system or in the management system itself. The new system allows the processing of statistics and analysis of circulation or variance automatically, neither of which were possible in the original paper-based system. We provided open access to the system as free software on the Internet, and it has since been downloaded by many medical institutions and enterprises in Japan. This system is very useful for institutions where it is difficult to introduce expensive new systems for systematic management of clinical pathways, such as electronic medical records, because of problems regarding capital or system management, and it may also be useful in other countries. [Copyright &y& Elsevier]

Poverty reduction strategy papers represent both a primary policy device of international development institutions, and an instance of a wider international convergence of public policy around global integration and social inclusion. Charting the emergence of these approaches, this paper argues that this convergence has a number of structural predilections which favor the technical and juridical over the political economic, and a disciplinary framework over a practical contest. Drawing extensively on decentralized governance and poverty reduction programs in Uganda, this paper shows how these predilections obscure power relations and restrict practical and political options, while exacting heavy establishment and compliance costs. [Copyright &y& Elsevier]

The paper entitled “An economic analysis of energy requirements and input costs for tomato production in Turkey” used energy input–output analysis in tomato (industrial type) production and compare it with production costs. The research also pursued to analyze the effect of farm size. As a result of that research, the authors claimed that the better benefit–cost ratio was found on the large farms and it was more successful in economic performance. However, there are some minor and major miscalculations that could, and perhaps should be added to the result section. [ABSTRACT FROM AUTHOR]

Abstract: A conference on current research and educational programs in production of crops for bio-fuel was sponsored and organized by the EARTH University and the University of Florida in November, 2008. The meeting addressed current research on crops for bio-fuel production with discussions of research alternatives for future crop production systems, land use issues, ethics of food vs. fuel production, and carbon sequestration in environmentally sensitive tropical and sub-tropical regions of the Americas. The need and potential for development of graduate and undergraduate curricula and inter-institutional cooperation among educational institutions in the region were also discussed. Delegations from Belize, Brazil, Columbia, Costa Rica, Cuba, Honduras, Panama, The Dominican Republic, and the United States including ministers of Agriculture and Energy attended this meeting. Over a two-day period, four working groups provided a framework to facilitate networking, motivate task oriented creative thinking, and maintain a timely accomplishment of assigned duties in the context of the conference themes. Participants in the conference were assigned to one of four working groups, each following given topics: Agronomy, Environment, Socio-Economics and Education/Extension. It was the consensus of representatives of industry, academic and regulatory community assembled in Costa Rica that significant research, education and socio-economic information is needed to make production of bio-fuel crops sustainable. Agronomic research should include better crop selection based on local conditions, improved production techniques, pest and disease management, and mechanical cultivation and harvesting. Another conclusion was that tailoring of production systems to local soil characteristics and use of bio-fuel by-products to improve nutrient use efficiency and reduction of environmental impact on water quantity and quality is critical to sustainability of bio-fuel crop production. [ABSTRACT FROM AUTHOR]

To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jeem.2017.03.002 Byline: Aaron A. Elrod (a), Arun S. Malik (b) Abstract: This paper examines the effect of the U.S. Environmental Protection Agency's Cluster Rule on the product-mix decisions of plants in the pulp, paper, and paperboard industries. The Cluster Rule combines regulatory requirements from the Clean Air Act and Clean Water Act that are based on plants altering their production processes away from chlorine-based bleaching agents. In addition to, or instead of, altering production processes, plants may plausibly comply with the regulation by reducing output of bleached products or dropping some of these products entirely. Using a difference-in-difference-in-differences approach, we find evidence that plants facing both air and water Cluster Rule regulation (treatment group) are more likely to drop bleached products relative to unbleached products compared to plants facing only air Cluster Rule regulation (control group). Furthermore, we find evidence that plants in the control group alter their product mixes toward bleached products. Author Affiliation: (a) Department of Economics, Sewanee: The University of the South, 735 University Avenue, Sewanee, TN 37383, USA (b) Department of Economics and Trachtenberg School of Public Policy and Public Administration, The George Washington University, 2115 G Street, NW, Washington, DC 20052, USA Article History: Received 27 September 2013 Article Note: (footnote) [star] We thank the Editors and three anonymous reviewers for their thoughtful comments. We are indebted to Wayne Gray and Ron Shadbegian for their generous support and suggestions. This paper also benefited from suggestions from Tony Yezer, Wally Mullin, Randy Becker, Shawn Klimek, Justin Pierce, Emek Basker, Stephanie Cellini, Paul Carrillo, Elaine Frey, and William Wheeler, as well as many of the researchers at the Center for Economic Studies. Any remaining errors are our own. The research in this paper was conducted while Elrod was a Special Sworn Status researcher at the U.S. Census Bureau, Center for Economic Studies. Any opinions and conclusions expressed herein are those of the authors and do not necessarily represent the views of the U.S. Census Bureau. All results have been reviewed to ensure that no confidential information is disclosed.

Abstract: Economics seeks to understand and explain the allocation of resources within society and to suggest appropriate policy to achieve goals such as optimal efficiency. Relating antimicrobial use and antibiotic resistance is a complex task and requires very clear and careful analyses of many relationships. To address these relationships, antibiotic use data must be linked with other basic data. Ideally, a complex relational database needs to be developed. These must include data on: antimicrobial usage, farm-level animal productivity, basic disease, basic farm management, consumer response, and antimicrobial resistance at multiple levels (farm, during process, on a variety of both animal, vegetable and grain-derived food products, from humans, from other animal species, and from the environment) among other data. Such a complex relational database can help with the attribution and risk assessment process. Also these linked data are needed in order to develop the economic production models and other economic models, as well as control for confounding so that there is both adequate and appropriate statistical control. Antimicrobial usage data may become economically important for reasons unrelated to animal productivity and animal health. With expanding global trade of animals and animal products, there have been changes in restrictions and regulations associated with the movement of products. Future trade opportunities may be linked to antimicrobial usage. The European Union banned the use of antimicrobials for growth-promoting purposes based on perceived risk and on public opinion. Monitoring antimicrobial use, disease occurrence, and resistance patterns following changes in usage that are a result of either policy changes or response to new information will help in the understanding of the complex relationships in microbial and disease ecology. There is a lot of evidence substantiating the productivity and profitability gains to producers from the use of antimicrobials. There is also evidence for the potential gains to consumers, both from an economic perspective as well as from a health perspective. Economists can help identify the implications of these relationships both at a micro- and macroeconomic level; both relative to producer and to consumer welfare. We are at a pivotal time in history with sufficient analytical expertise and tools to address this complex issue from a scientific perspective. Linking various agencies so there can be coordination of data collection and data sharing is needed to successfully address this topic. [Copyright &y& Elsevier]

Focuses on social capital. Definition of social capital; Social capital services; Relationship between social capital, attachment value and icons; Motives for investing/disinvesting in social capital.

Byline: Kuan-Jen Chen [129800@mail.fju.edu.tw] (a), Angus C. Chu [angusccc@fudan.edu.cn] (b,c), Ching-Chong Lai [cclai@econ.sinica.edu.tw] (*,d,e,f) Keywords Small open economy; Home production; Emerging markets; Business cycles Abstract This paper incorporates home production into a real business cycle (RBC) model of small open economies to explain the different empirical patterns of international business cycles between developed economies and emerging markets. It is well known in the literature that in order for the RBC model to replicate quantitatively plausible empirical moments of small open economies, the model needs to feature counterfactually a small income effect on labor supply. This paper considers home production that introduces substitutability between market consumption and home consumption, which in turn generates a high volatility in market consumption in accordance with the data, even in the presence of a sizable income effect on labor supply. Furthermore, the model with estimated parameter values based on the simulated method of moments is able to match other empirical moments, such as the standard deviations of output, investment and the trade balance and the correlations between output and other macroeconomic variables. Given that home production is more prevalent in emerging markets than in developed economies, the model is able to replicate empirical differences between emerging markets and developed economies in the volatility of market consumption and the volatility/countercyclicality of the trade balance. Author Affiliation: (a) Department of Economics, Fu-Jen Catholic University, New Taipei City, Taiwan (b) China Center for Economic Studies, School of Economics, Fudan University, Shanghai, China (c) Shanghai Institute of International Finance and Economics, Shanghai, China (d) Institute of Economics, Academia Sinica, Taipei, Taiwan (e) Department of Economics, National Cheng-Chi University, Taipei, Taiwan (f) Institute of Economics, National Sun Yat-Sen University, Kaohsiung, Taiwan * Corresponding author at: Institute of Economics, Academia Sinica, Taipei, Taiwan. Article History: Received 5 May 2018; Revised 27 July 2018; Accepted 2 August 2018 (footnote)[white star] The authors are deeply grateful to the Editor, Professor B. Ravikumar, an Associate Editor, and two anonymous referees for their insightful comments, which substantially improved the paper. The authors would also like to thank Juin-Jen Chang, Nan-Kuang Chen, Yi-Chan Tsai, and Shu-Chun S. Yang for providing helpful suggestions in relation to earlier versions of this article. The usual disclaimer applies.

Abstract: Currently the amount of produced packaging waste, especially that of paper, cardboard, glass and plastics, is increasing year by year. Increasing packaging quantity has forced countries of the European Union to face this problem. The issue is reflected in EU legislation. The European Parliament and further amended by Directives 2004/12/WE and 2005/20/WE, belongs to binding resolutions passed by the European Union. The leading principle of the Directives was to introduce the obligation to provide adequate levels of waste packaging recovery and recycling. The obligation was defined as the percentage of waste packaging recovery and recycling which has to be achieved by EU member countries in relation to the aggregate weight of packaging introduced into the market. Aspiring to join the European Union, Poland was obliged to comply with the environmental protection requirements valid in the Community. Since 1 January 2002, the annual recycling levels of waste packaging are defined in the Ordinance of the Council of Ministers of 30 June 2001. The aim of the present work is to discuss and compare the required and achieved recycling levels of waste packaging (made of plastic, aluminium, paper and cardboard and glass) in Poland in the years 2002–2007 under the influence of EU directives. Featured data show that the required levels of recovery and waste packaging recycling were met and even exceeded in some cases. This result was influenced by the fact that Poland has been a member of the European Union since 1 May 2004. Hence, actions were enforced in Poland pertaining to waste packaging management as well as an obligation to the recycling levels dictated by European directives. An additional stimulus was constituted by a product charge for failing to comply with the recycling target levels. [Copyright &y& Elsevier]

Keywords Schumpeterian growth; Financial frictions; Land prices; Macroprudential policy Abstract Recent evidence suggests that credit booms and asset price bubbles may undermine economic growth even as they occur, regardless of whether a crisis follows, by crowding out investment in more productive, R&D-intensive industries. This paper incorporates Schumpeterian endogenous growth into a DSGE model with credit-constrained entrepreneurs to show how shocks affecting firms' access to credit can generate boom-bust cycles featuring large fluctuations in land prices, consumption, and investment. During the expansion, rising land prices tend to crowd out capital and (especially) R&D investment: over the medium term, this results in a slowdown in the rate of creation of new (innovative) firms. Moreover, higher initial loan-to-value ratios tend to be associated with larger macroeconomic fluctuations. A counter-cyclical LTV ratio targeting credit growth has relevant stabilization effects but brings about small gains in terms of long-run consumption levels, and thus of welfare. Author Affiliation: School of European Political Economy, LUISS University, Via di Villa Emiliani 14, Roma, 00197, Italy * Corresponding author. Article History: Received 29 June 2018; Revised 18 November 2018; Accepted 29 December 2018 Byline: Claudio Battiati [cbattiati@luiss.it] (*)

We combined life cycle impact assessment (LCIA) with economic analysis of social life cycle costs (SLCC) to investigate five alternatives for newspaper waste management. The alternatives consisted of various recovery and treatment methods applicable to newspaper in a separately collected paper fraction and to newspaper in mixed waste. We linked LCIA and SLCC to each other at three different stages. First, we used LCIA to rank our alternatives and asked how this ranking relates to the SLCC associated with each alternative. Second, we solved the cost minimizing problem and asked how this purely economic ranking relates to our LCIA ranking. Third, we solved the cost minimizing problem when external costs from the use of fossil fuels were included and then compared the solution to the LCIA results. Many useful features emerged. Tying economic analysis firmly to the steps of LCA helps to produce consistent SLCCs. Economic analysis can also be helpful in defining the boundaries of the product system and to facilitate decisions on avoided impacts. Finally, given that environmental policies usually involve trade-offs between environmental and economic factors, economic analysis conducted consistently with LCA complements LCA in a way that can be expected to make the results of the analysis more useful for policy making. [Copyright &y& Elsevier]

Abstract: The paper entitled “Application of the analytical hierarchy process in the selection of desalination plants” used Analytical Hierarchy Process in order to choose the best desalination plant using four alternatives (technologies) and seven selection criteria. In the conclusion part of the above mentioned study, the final decision made by the authors was that the RO process was the most appropriate technology and the most important criteria was the cost. However, this suggestion cannot be inferred from the results given by the authors since some matrices are inconsistent matrices which means that revising and re-scaling those matrices must be necessary before continuing further calculations, and there are also many minor and major miscalculations that exist throughout the paper. [Copyright &y& Elsevier]

For papers to have scientific impact, they need to impress our peers in their role as referees, journal editors, and members of conference committees. Does better writing help our papers make it past these gatekeepers? In this study, we estimate the effect of writing quality by comparing how 30 economists judge the quality of papers written by PhD students in economics. Each economist judged five papers in their original version and five different papers that had been language edited. No economist saw both versions of the same paper. Our results show that writing matters. Compared to the original versions, economists judge edited versions as higher quality; they are more likely to accept edited versions for a conference; and they believe that edited versions have a better chance of being accepted at a good journal. [ABSTRACT FROM AUTHOR]

Highlights • Forest resource Metabolism Network model isdeveloped for ecological and economic analysis. • Exploitation index is developed to reveal the weaker sectors in the ecological relations. • A case study of Guangdong province, China isconducted to illustrate the potential benefits. • Scientific Basis are provided to allocate forestresources and stabilize industrial structure. Abstract Integrating forest resources into the socio-economic system correctly and reasonably is of vital importance to tackle the increasingly scarce forest resources. In this paper, forest resource input-output model and forest resource metabolism network model are established to provide new insights into the relationships among the systems, industries and sectors related to forest resources. A promising indicator named exploitation index is developed to reveal the weaker sectors in the ecological relations, which will further help to provide better corrective actions and integrated strategic measures. Guangdong is taken as an example to verify the availability of the model and solve the problem. The results show that the primary manufacturing consumes more direct timber, while advanced manufacturing and the service sector utilize timber indirectly. In addition, Guangdong forest metabolism system shows a negative correlation and the whole network does not achieve the mutualism state, leading to competition relationships between pairwise sectors that should not appear, such as Forestry sector and Papermaking and Paper Products sector. These results provide the corresponding reference for helping the decision makers to allocate forest resources and coordinate ecological and economic development. [ABSTRACT FROM AUTHOR]

Implementation of a lignin-based biorefinery into one of the existing kraft pulp mills calls for increased consumption of resources such as steam (by up to 21.5%), water (by up to 3%), carbon dioxide (by up to 16.2%), and sulphuric acid (by up to 11.3%). To compensate for these extra demands on resources, an advanced process integration method was used to identify steam, water, and chemicals savings options and resource recovery opportunities within the kraft process. Given the importance of the lignin-based biorefinery, an economic viability assessment was carried out toward four scenarios, namely: a reference case relating to a stand-alone kraft pulp mill without a pulp production increase but with/without advanced process integration (scenarios #1 and #2) as well as to an integrated biorefinery with a pulp production increase by 5, 10 and 15% (scenarios #3 and #4). [ABSTRACT FROM AUTHOR]

Urban areas in the US and around the globe are facing increasingly complex resilience challenges. Among the components of the "urban system," transportation networks are among the most critical facilitators that support the lives, interactions, and dynamics of urban dwellers. They are essential to the well-being of the society not only under business-as-usual conditions, but also during times of disaster for the entire response and recovery timeline. This paper introduces CRAFT (Comprehensive Resilience Assessment Framework for Transportation Systems in Urban Areas), which is designed to achieve holistic analyses of transportation disruptions by addressing the many shortcomings and research gaps in this domain. The framework couples a novel structure-specific modeling methodology with a high-fidelity metropolis-scale travel demand model based on real socioeconomic data, and produces results, which, in turn, serve as input for a state-of-the-art socioeconomic impact analysis methodology that is based on computable general equilibrium (CGE) analysis. By the virtues of its data-intensive, model-based, and cross-disciplinary nature, CRAFT aims to capture and incorporate many details that are usually neglected in traditional approaches, and generates resilience insights at 3 levels: (1) system component level (e.g., damages to bridges, tunnels and information on component recovery), (2) system level (e.g., road network disruptions, reconfiguration of traffic and network level functionality) and (3) regional economic level (e.g., impacts on regional GDP, employment, economic resilience). The objective of this paper is to introduce CRAFT and to demonstrate the workings of its first coupling between the hazard and transportation modules through a case study on the Greater Los Angeles Area. [ABSTRACT FROM AUTHOR]

The hydrogen (H2) momentum affects the aviation sector. However, a macroeconomic consideration is currently missing. To address this research gap, the paper derives a methodology for evaluating macroeconomic effects of H2 in aviation and applies this approach to Germany. Three goals are addressed: (1) Construction of a German macroeconomic database. (2) Translation of H2 supply chains to the system of national accounts. (3) Implementation of H2-powered aviation into the macroeconomic data framework. The article presents an economy-wide database for analyzing H2-powered aviation. Subsequently, the paper highlights three H2 supply pathways, provides an exemplary techno-economic cost break-down for ten H2 components and translates them into the data framework. Eight relevant macroeconomic sectors for H2-powered aviation are identified and quantified. Overall, the paper contributes on a suitable foundation to apply the macroeconomic dataset and to conduct macroeconomic analyses on H2-powered aviation. Finally, the article highlights further research potential on job effects related to future H2 demand. • The hydrogen momentum affects the aviation sector, but a macroeconomic perspective is currently lacking. • This article derives a methodology for evaluating the macroeconomic effects of hydrogen use in aviation and applies this approach to an economy-wide dataset for Germany. • The study investigates three hydrogen supply pathways, provides an exemplary cost break-down for ten hydrogen components and translates them into a national data framework. • Eight macroeconomic sectors relevant for hydrogen-powered aviation are identified and quantified by assigning the respective techno-economic cost components. • The article highlights meaningful research potential on macroeconomic analyses of hydrogen-powered aviation and employment effects related to future hydrogen demands. [ABSTRACT FROM AUTHOR]

Pipeline hydro-transport, an economically viable means of delivering large volumes of biomass, can replace conventional modes of transport – road, rail, and river - to improve the economy of pulp and paper mills, as well as bio-based energy facilities. This paper is a review of experimental and theoretical studies conducted by various sectors on the transport of wood and non-wood biomass-water mixtures (slurries) in pipes. The aims were to collect technical challenges, governing mechanical equations, and associated economic issues, as well as to identify the gaps in knowledge in the area. There have been several experiments conducted on pipeline hydro-transport of wood chips over a wide range of pipeline materials, lengths, and diameters. However, pipeline transport of non-wood agricultural residue slurries, as well as the performance of the centrifugal slurry pump handling such mixtures, has recently been investigated in a single lab-scale pipeline facility. Several researchers have proposed empirical correlations to estimate friction loss in wood chip slurries flowing in pipes and also recommended technically and economically optimum pumping velocities. Those correlations, however, are reported to come with noticeable deviations from one another and from experimental measurements. One empirical correlation has been also proposed to predict, with an uncertainty of less than 10%, the longitudinal pressure gradients in pipeline hydro-transport of agricultural residue biomass. All the experimental measurements and empirical correlations based some studies on the economic feasibility of pipelining wood chip-water mixtures. These studies proved the concept of economy of scale to be highly applicable to biomass pipeline systems. [ABSTRACT FROM AUTHOR]

Comments on an article by Nicole Damon, Elaine Ferguson and Andre Briend, on the method for estimating the importance of economics to the determination of food choice. Conclusion reached on unhealthy eating patterns and nutritional inadequacy resulting from economic constraints that should be a call for politically active nutritionists who want to use data to change social policy.