renewable and non renewable energy growth emissions linkages review of emerging trends with policy implications abstract this study is an extension of the previous studies which focused mainly on energy growth nexus but fails to consider the carbon emission implication of this relationship the methodology of the study permits a comprehensive and comparative analysis of existing studies on renewable and non renewable energy growth emission nexus in order to draw some implications for policy and research the survey revealed the extent of the spread of studies across issues time and geographical space countries and regions it also disclosed the range of methodological approaches adopted to analyse the issues over time and the frequency of their use it unravelled the varied findings across countries and regions given the diverse methods employed and specific features of the economies analysed arising from the literature survey this study highlights the existing gaps in the literature and new direction for policy and research the general policy implication of the findings of this study is that pollution effect of energy growth nexus should be taken into consideration in policy formulation for sustainable development further the design of regional and global policies should recognise the fact that energy growth emission linkages varied across countries even in the same region some new direction for research on renewable and non renewable energy growth emission linkages pointed out in this survey includes the following future research on energy growth nexus without considering the pollution impact may not contribute so much to the literature studies should investigate the substitution complementary effects of the energy varieties on growth emission nexus while new methodological contributions are imperative

the nba and the influx of international basketball players the determinants of salaries for professional athletes in the national basketball association nba are examined to investigate how international athletes have fared relative to athletes trained in the united states it is found that international basketball players were paid a large premium above other players of similar skills and characteristics for the 1996 97 and 1997 98 seasons after which the premium disappeared this temporary premium is likely attributable to a winner s curse experienced by nba teams before investing significant resources in scouting and evaluating international players

career concerns incentives and endogenous learning in labour markets models of career concerns provide a framework for analyzing the actions that may be taken by a manager in an attempt to influence performance signals that the market uses to update its beliefs on her productivity and the incentive problem that arises if such actions do not coincide with those that maximize the financial return to a firm s owner this survey provides a formal introduction to the main types of models of career concerns hidden action and hidden information and discusses some extensions of these models applications of the career concerns framework to explain aspects of managerial behavior and the form of labor market institutions are emphasized copyright 1992 by blackwell publishers ltd

energy consumption and gdp in developing countries a cointegrated panel analysis in this paper we re investigate the co movement and the causality relationship between energy consumption and gdp in 18 developing countries using data for the period 1975 to 2001 recently developed tests for the panel unit root heterogeneous panel cointegration and panel based error correction models are employed the empirical results provide clear support of a long run cointegration relationship after allowing for the heterogeneous country effect the long run relationship is estimated using a full modified ols the evidence shows that long run and short run causalities run from energy consumption to gdp but not vice versa this result indicates that energy conservation may harm economic growth in developing countries regardless of being transitory or permanent

a dynamic panel study of economic development and the electricity consumption growth nexus abstract this study examines the relationship between electricity consumption and economic growth for 88 countries categorized into four panels based on the world bank income classification high upper middle lower middle and low income within a multivariate panel framework over the period 1990 2006 the larsson et al 2001 panel cointegration test indicates there is a long run equilibrium relationship between real gdp coal consumption real gross fixed capital formation and the labor force for the high upper middle and lower middle income country panels the results from the panel vector error correction models reveal 1 bidirectional causality between electricity consumption and economic growth in both the short and long run for the high income and upper middle income country panels 2 unidirectional causality from electricity consumption to economic growth in the short run but bidirectional causality in the long run for the lower middle income country panel and 3 unidirectional causality from electricity consumption to economic growth for the low income country panel

energy consumption and economic growth revisited does the size of unrecorded economy matter abstract we analyze the long run relationship between energy consumption and real gross domestic product gdp in turkey taking into account the size of unrecorded economy since in developing countries mainly due to the unrecorded economic activities the official gdp is not measured correctly the investigation of the linkage between energy consumption and official gdp may not give reliable results in this study empirical results for the case of turkey over the period 1970 2005 suggest that there is a long run equilibrium relationship between the officially calculated gdp and energy consumption besides using the error correction modeling technique we find out that unidirectional causality runs from official gdp to energy in both short and long runs however when we take into account unrecorded economy we detect neither cointegration nor causality between energy consumption and true gdp these empirical findings imply that first energy conservation policies can be implemented in order to reduce greenhouse gas emissions without any adverse effect on the recorded economic activities second the production function in the unrecorded economy is not stable furthermore economic policies to combat unrecorded economy may not serve as a complement to energy conservation policies

the upside potential of hiring risky workers evidence from the baseball industry making use of performance data for baseball players this article provides empirical evidence in support of lazear s 1998 theoretical predictions that 1 risky workers will earn a premium for their upside potential 2 this risk premium will be higher the longer a worker s work life and 3 firms must enjoy some comparative advantage in the labor market to be willing to pay a premium to risky workers the validity of lazear s predictions carries implications for wage differentials between young and old workers and between men and women

disaggregate energy consumption employment and income in turkey the purpose of this paper is to contribute to literature on energy consumption and economic growth relationship by examining how much of the variance in national income growth can be explained by the growth of different sources of energy consumption and employment in turkey we use the recently developed generalized forecast error variance decomposition technique of koop et al j econom 74 1996 119 and pesaran and shin econ lett 58 1998 17 to determine the information content of the growth rate of energy consumption waste seems to have the largest initial impact followed by oil however over a 3 year horizon lignite appears to explain the largest forecast error variance of gdp the total energy consumption explains 21 of forecast error variance of gdp energy consumption appears to be almost as important as employment in turkey therefore policy makers may be interested in identifying the energy dependencies of economic growth in allocating the energy investment budget

the causality relationship between energy consumption and gdp in g 11 countries revisited abstract this paper explores whether energy conservation policies can be implemented in countries with the same level of development that is is restraining energy consumption without compromising economic growth feasible in all industrialized countries a new granger non causality testing procedure developed by toda and yamamoto 1995 journal of econometrics 66 225 250 is applied to re investigate the relationship if any between energy consumption and income in 11 major industrialized countries the results clearly do not support the view that energy consumption and income are neutral with respect to each other except in the case of the united kingdom germany and sweden where a neutral relationship is found bi directional causality in the united states and uni directional running from energy consumption to gdp in canada belgium the netherlands and switzerland are found this indicates that energy conservation may hinder economic growth in the latter five countries further the causality relationship appears to be uni directional but reversed for france italy and japan which implies that in these three countries energy conservation may be viable without being detrimental to economic growth

on the job specific training and efficient screening employment relationships are governed by short term incomplete contracts and typically involve on the job screening and firm specific training this article studies a dynamic employment relationship with these features and identifies a potential conflict between the employer s twin objectives to screen and train the worker when the training technology is quite productive the employer may have to sacrifice from worker performance during the screening process the article thus offers an explanation for why firms may invest suboptimally on training which complements the standard inappropriable rents explanation based on ex post mobility of young employees

coal consumption and economic growth evidence from a panel of oecd countries this study examines the relationship between coal consumption and economic growth for 25 oecd countries within a multivariate panel framework over period 1980 2005 the larsson et al 2001 panel cointegration test indicates there is a long run equilibrium relationship between real gdp coal consumption real gross fixed capital formation and the labor force the respective coefficients for real gross fixed capital formation and the labor force are positive and statistically significant whereas the coefficient for coal consumption is negative and statistically significant the results of the panel vector error correction model reveal bidirectional causality between coal consumption and economic growth in both the short and long run however the bidirectional causality in the short run is negative

standard promotion practices versus up or out contracts this article develops a theory concerning the choice between standard promotion practices and up or out contracts our theory is based on asymmetric learning and promotion incentives we find that firms employ up or out contracts when firm specific human capital is low and standard promotion practices when it is high we also find that if commitment to a wage floor is feasible and effort provision is important up or out is employed when low and high level jobs are similar these results are consistent with many of the settings in which up or out is typically observed such as law firms and academia

the demand for residential electricity in south africa abstract this paper examines the residential demand for electricity in south africa as a function of real gross domestic product per capita and the price of electricity during the period 1978 2005 we make use of the bounds testing approach to cointegration within an autoregressive distributed framework suggested by pesaran et al 2001 bounds testing approaches to the analysis of level relationships journal of applied econometrics 16 3 289 326 following the literature we use a linear double logarithmic form using income and price as independent variables in the empirical analysis in the long run we find that income is the main determinant of electricity demand while electricity price is insignificant

energy consumption and economic growth evidence from 11 sub sahara african countries abstract the paper examines the causal relationship between energy consumption and economic growth for eleven countries in sub saharan africa using the autoregressive distributed lag ardl bounds test the study finds that energy consumption is cointegrated with economic growth in cameroon cote d ivoire gambia ghana senegal sudan and zimbabwe moreover this test suggests that energy consumption has a significant positive long run impact on economic growth in ghana kenya senegal and sudan granger causality test based on vector error correction model vecm shows bi directional relationship between energy consumption and economic growth for gambia ghana and senegal however granger causality test shows that economic growth granger causes energy consumption in sudan and zimbabwe the neutrality hypothesis is confirmed in respect of cameroon and cote d ivoire the same result of no causality was found for nigeria kenya and togo the result shows that each country should formulate appropriate energy conservation policies taking into cognizance of her peculiar condition

energy consumption and gdp causality relationship in g 7 countries and emerging markets abstract the causality relationship between energy consumption and income is a well studied topic in energy economics this paper studies the time series properties of energy consumption and gdp and reexamines the causality relationship between the two series in the top 10 emerging markets excluding china due to lack of data and g 7 countries we discover bi directional causality in argentina causality running from gdp to energy consumption in italy and korea and from energy consumption to gdp in turkey france germany and japan hence energy conservation may harm economic growth in the last four countries

bonuses and promotion tournaments theory and evidence standard models of promotion tournaments do not distinguish between wages and bonuses and thus cannot explain variation in the use of bonuses we combine classic and market based tournament theories to develop a model in which wages and bonuses serve distinctly different roles we use this model to derive testable predictions which we test employing both a single firm data set and a data set encompassing a large segment of the finnish economy our empirical analysis supports the testable predictions and shows that our theoretical approach better matches the data than alternative theories of bonus determination based on arguments already in the literature

energy and national income in korea further evidence on the role of omitted variables abstract results of this paper indicate that the real oil price is a major determinant of real national income and energy consumption the combined effects of real money and real government expenditure on real income and energy consumption are also substantial a lack of causality or the causality between energy and real income in prior studies is due to the omitted variables results also confirm that the two oil price shocks combined adversely affected real national income

what shapes player performance in soccer empirical findings from a panel analysis in this article we investigate the pay performance relationship of soccer players using individual data from eight seasons of the german soccer league bundesliga we find a nonlinear pay performance relationship indicating that salary does indeed affect individual performance the results further show that player performance is affected not only by absolute income level but also by relative income position an additional analysis of the performance impact of team effects provides evidence of a direct impact of team mate attributes on individual player performance

educational mismatch and promotions to managerial positions a test of the career mobility theory abstractcareer mobility theory suggests that given a certain occupation schooling improves upward mobility in terms of promotion and wage growth we are the first to test the implications of this theory for over and undereducation by means of direct information about promotions to managerial positions using german administrative data entailing an employer reported and hence objective measure of educational requirements we show that overeducated workers are indeed more likely to be promoted and that this career mobility advantage is more pronounced in the early stages of their working lives by contrast undereducated workers are less likely to be promoted to managerial positions moreover in terms of wage growth while overeducated workers benefit more undereducated workers benefit less from promotions than their well matched educational peers altogether these findings strongly support the career mobility theory furthermore by differentiating between internal and external promotions we prov

racial discrimination and professional basketball salaries in the 1990s racial differences in professional basketball player salaries are examined to determine whether the 20 premium paid to whites in the mid 1980s has persisted into the 1990s ols and tobit regressions indicate no difference between white and black salaries controlling for player and team characteristics for the 1994 95 season however censored quantile regressions show substantial racial differences at certain points in the salary distribution whites earn less than blacks at the lower end of the distribution although the difference is not statistically significant and varies with minutes played in contrast whites receive a significant premium 18 at the upper end of the salary distribution these findings are consistent with a form of consumer discrimination in which sports fans prefer to see white star players all else equal

electricity consumption employment and real income in australia evidence from multivariate granger causality tests this paper examines the relationship between electricity consumption employment and real income in australia within a cointegration and causality framework we find that electricity consumption employment and real income are cointegrated and that in the long run employment and real income granger cause electricity consumption while in the short run there is weak unidirectional granger causality running from income to electricity consumption and from income to employment

the role of natural gas consumption and trade in tunisia s output this paper examines the impact of natural gas consumption real gross fixed capital formation and trade on the real gdp in case of tunisia over the period of 1980 2010 we used auto regressive distributed lag ardl bounds testing approach to test the existence of long run relationship between the variables the vector error correction method vecm granger approach is applied to test the direction of causal relation between the series our findings indicate the existence of long run relationship among the variables natural gas consumption real gross fixed capital formation and trade add in economic growth natural gas consumption real gross fixed capital formation and real trade granger cause real gdp these findings open up new insights for policy makers to formulate a comprehensive energy policy to sustain economic growth for long run

agency theory and franchising some empirical results this article provides an empirical assessment of various agency theoretic explanations for franchising including risk sharing one sided moral hazard and two sided moral hazard the empirical models use proxies for factors such as risk moral hazard and franchisors need for capital to explain both franchisors decisions about the terms of their contracts royalty rates and up front franchise fees and the extent to which they use franchising in this article i exploit several new sources of data on franchising to construct a cross section of 548 franchisors involved in various business activities in the united states in 1986 the data are most consistent with a model based on two sided moral hazard the empirical models are also more successful at explaining the extent to which franchisors choose to franchise stores than at explaining the terms of franchise contracts finally contrary to the predictions of several theoretical models i find that royalty rates and franchise fees are not negatively related

an empirical analysis of energy demand in namibia abstract using a unique database of end user local energy data and the recently developed autoregressive distributed lag ardl bounds testing approach to cointegration we estimate the long run elasticities of the namibian energy demand function at both aggregated level and by type of energy electricity petrol and diesel for the period 1980 2002 our main results show that energy consumption responds positively to changes in gdp and negatively to changes in energy price and air temperature the differences in price elasticities across fuels uncovered by this study have significant implications for energy taxation by namibian policy makers we do not find any significant cross price elasticities between different fuel types

price and income elasticities of disaggregated import demand results from uecms and an application this paper presents an empirical analysis of the demand for maize milk powder butter and rice imports in cyprus using annual time series data covering the period 1975 1994 none of these products is produced in cyprus and all the necessary quantities are imported to meet domestic demand the primary objective of the paper is to derive long run price and income elasticities of import demand that can be used to analyse the impact of various policies such as the adoption of the common agricultural policy cap when and if the republic of cyprus joins the european union eu in so doing the paper takes on board some recent developments in time series econometrics the cointegration test used the bounds test is a recent test and is based on the estimation of an unrestricted error correction model uecm parsimonious models were derived using hendry s general to specific approach the estimated elasticities were subsequently used to quantify some of the implications for cyprus had the cap been ope

the influence of energy consumption of china on its real gdp from aggregated and disaggregated viewpoints abstract this paper investigated the causal relationship between energy consumption and gross domestic product gdp in china at both aggregated and disaggregated levels during the period of 1978 2009 by using a modified version of the granger 1969 causality test proposed by toda and yamamoto 1995 within a multivariate framework the empirical results suggested the existence of a negative bi directional granger causality running from aggregated energy consumption to real gdp at disaggregated level of energy consumption the results were complicated for coal empirical findings suggested that there was a negative bi directional granger causality running from coal consumption to real gdp however for oil and gas empirical findings suggested a positive bi directional granger causality running from oil as well as gas consumption to real gdp though these results supported the feedback hypothesis the negative relationship might be attributed to the growing economy production shifting towards less energy intensive sectors and excessive energy consumption in relatively unproductive sectors the results indicated that policies with reducing aggregated energy consumption and promoting energy conservation may boost china s economic growth

electricity and growth nexus dynamics in singapore fresh insights based on wavelet approach abstract this study examines the empirical relationship of electricity generation egen and economic growth ipi in singapore by using the flexible properties of the wavelet approach this innovative technique allows the decomposition of time series across time scales in this study we used continuous wavelet transform cross wavelet and wavelet coherence ratios to investigate the relationship between egen and ipi by using the monthly data from 1983 1 to 2016 1 results of autoregressive distributed lag and johansen juselius cointegration tests show that there is a significant long run relationship the mentioned variables in singapore furthermore results indicate that there is a unidirectional causal relationship running from egen to ipi in the long run while a bidirectional causal interplays are depicted between the of egen on ipi in medium run thus it can be recommended that government needs to increase electricity generation and further providing and nurturing the expansion of electricity supply in country which will ultimately benefits the economic growth

the signaling role of promotions further theory and empirical evidence an extensive theoretical literature investigates the role of promotions as a signal of worker ability we extend the theory by focusing on how the signaling role of promotion varies with education and then investigate the resulting predictions using a longitudinal data set that contains detailed information concerning the internal labor market history of a medium sized firm in the financial services industry our results support signaling being important for understanding the differences between promotion practices concerning bachelor s and master s degree holders while the evidence concerning the importance of signaling for high school graduates and phds is mixed

why chains beget chains an ecological model of firm entry and exit and the evolution of market similarity abstract we construct and analyze a dynamic model of chain growth across multiple markets from an ecological perspective using computational and mathematical techniques our model consists of firms that possess intrinsic qualities and hedonic spatial attributes consumers purchase from firms based upon quality and hedonic distance we find that the existence of chains creates an environment favorable to additional chains in other words chains beget chains we also find that even though creating successful new firms becomes harder over time chaining successful new firms becomes easier both phenomena result from the creation of common niches across markets

electricity consumption and economic growth a time series experience for 17 african countries abstract while the availability of electricity by itself is not a panacea for the economic and social problems facing africa the supply of electricity is nevertheless believed to be a necessary requirement for africa s economic and social development this paper tests the long run and causal relationship between electricity consumption per capita and real gross domestic product gdp per capita for 17 african countries for the period 1971 2001 using a newly developed cointegration test proposed by pesaran et al 2001 and using a modified version of the granger causality test due to toda and yamamoto 1995 the advantage of using these two approaches is that they both avoid the pre testing bias associated with conventional unit root and cointegration tests the empirical evidence shows that there was a long run relationship between electricity consumption per capita and real gdp per capita for only 9 countries and granger causality for only 12 countries for 6 countries there was a positive uni directional causality running from real gdp per capita to electricity consumption per capita an opposite causality for 3 countries and bi directional causality for the remaining 3 countries the result should however be interpreted with care as electricity consumption accounts for less than 4 of total energy consumption in africa and only grid supplied electricity is taken into account

a theory of wage dynamics a dynamic equilibrium model of long term implicit labour contracts under incomplete but symmetric information is developed workers are assumed to be risk averse and of unknown ability or productivity risk neutral firms learn as do workers about each worker s productivity by observing the worker s output over time it is shown that equilibrium contracts provide for wages which never decline with age and increase only when the worker s market value increases above his current wage in addition to characterizing the equilibrium wage contract we also derive some of its implications for the behaviour of aggregate wages across various groups of workers these implications explain some findings in the recent empirical literature on ageearnings profiles in particular our model can explain why earnings may be positively related to experience even after controlling for productivity as some empirical studies have indicated

applied econometrics and implications for energy economics research abstract developments in applied econometrics particularly with regard to unit root tests and cointegration tests have motivated a rich empirical literature on energy economics over the last decade this study reviews recent developments in time series econometrics applications in the energy economics literature we first consider the literature on the integration properties of energy variables we begin with a discussion of the implications of whether energy variables contain a unit root and proceed to examine how results differ according to the specific unit root or stationarity test employed we then proceed to examine recent developments in the literature on cointegration granger causality and long run estimates between disaggregated energy consumption and economic growth we review both single country and panel studies and pay particular attention to studies which have expanded the literature through adding variables such as financial development and trade in addition to energy consumption to the augmented production function as well as studies which have extended the literature through examining disaggregated energy consumption by type in each case we highlight best practice in the literature point to limitations in the literature including econometric modeling challenges and suggest recommendations for future research a key message of our survey is that the profession needs to guard against overload of research in these areas as most applied studies are no longer adding anything more to what is already known

energy and economic growth in the usa a multivariate approach abstract this paper examines the causal relationship between gdp and energy use for the period 1947 90 in the usa the relationship between energy use and economic growth has been examined by both biophysical and neoclassical economists in particular several studies have tested for the presence of a causal relationship in the granger sense between energy use and economic growth however these tests do not allow a direct test of the relative explanatory powers of the neoclassical and biophysical models a multivariate adaptation of the test vector autoregression var does allow such a test a var of gdp energy use capital stock and employment is estimated and granger tests for causal relationships between the variables are carried out although there is no evidence that gross energy use granger causes gdp a measure of final energy use adjusted for changing fuel composition does granger cause gdp

a note on the causal relationship between energy and gdp in taiwan abstract this paper re examines the causality between energy consumption and gdp by using updated taiwan data for the period 1954 1997 as a secondary contribution we investigate the causal relationship between gdp and the aggregate as well as several disaggregate categories of energy consumption including coal oil natural gas and electricity applying granger s technique we find bidirectional causality between total energy consumption and gdp we find further that different directions of cause exist between gdp and various kinds of energy consumption

do employers pay for consistent performance evidence from the nba i introduction there are many economic models of labor contracting that feature job performance monitoring by employers when there is asymmetric information about worker behavior these models focus on a variety of agency issues and generate implications about contract terms such as initial wages wage tenure profiles termination rates and involuntary unemployment 1 it is typically assumed in these models that a worker s marginal revenue product mrp is known at the time of hiring but that costly monitoring is necessary to enforce contractual terms this paper deals with another issue suppose there is no agency problem but both worker and firm are equally uninformed about mrp when contracts are signed and work begins how are initial wages and other contractual terms influenced by symmetric uncertainty about mrp contracts are often formulated on the basis of various provisional predictors of mrp such as grades in college letters of reference from teachers and former employers work experience and performance test scores typically employers expend resources to acquire such information at hiring and continue to engage in costly performance evaluation afterward under such conditions the purpose of monitoring is discovery not contract enforcement information acquired from on the job monitoring is used to make decisions about adjustment of contractual terms job assignment and retention for example tenure track college professors are often evaluated yearly and must submit information about various aspects of on the job performance such as student evaluations of teaching research papers completed committee assignments etc on the job monitoring of workers is costly and is likely to affect the worker s pay in fact a worker may agree to pay for his monitoring if the information revealed by monitoring has alternative uses elsewhere in the labor market in this paper we develop and test a model of a firm facing costly on the job monitoring when there is symmetric information and we develop a number of novel implications for initial salaries the central feature of our model is that monitoring can be costly when a worker s performance over time is variable notably the model predicts that there will be an unambiguous inverse relationship between variance of mrp and initial wages we obtain this and other predictions without resorting to assumptions about employers and employees utility functions that risk aversion models require we regard our explanation of the relationship between variance and wages to be theoretically more robust than what the risk aversion literature would predict because that literature predicts an ambiguous relationship for example stiglitz 1974 232 uses a risk aversion model to demonstrate that wages and risk are inversely related only under very restricted conditions specifically if the worker is more risk averse than the firm and if labor s elasticity of output does not exceed some threshold level in contrast our prediction is based on an information transactions costs model with no restricted conditions we build upon earlier work by bodvarsson 1987 1989 who created a salary determination model in which a worker s output is variable over time bodvarsson characterized on the job monitoring as a sequential sampling experiment where the employer periodically samples from the worker s mrp distribution and stops when she believes there is enough information to determine the true underlying mrp a key implication of bodvarsson s model is that expected monitoring costs are higher for workers with variable output and therefore if workers pay all or part of the cost of monitoring salaries of such workers will be lower in his earlier paper this proposition was tested using a share contracting model and data on commercial fishing in the later paper a fixed wage model with educational signaling was developed but never tested we extend bodvarsson s fixed wage model and test it on an occupation that has many characteristics described by our model professional basketball players in the national basketball association nba

economic segmentation worker power and income inequality how economic segmentation generates income inequality constitutes a central question for theories of economic and social organization and of socioeconomic achievement previous research emphasizes two sources of the structural variation in income 1 employers with large amounts of resources for a variety of reasons may find it in their interests to pay workers higher wages and 2 some workers are able to acquire power against their employers as well as against other workers and can therefore extract higher earnings in this paper we investigate several issues involved in the links among economic segmentation worker power and income inequality we argue that the structure of economic segmentation is multidimensional and reflects such distinct concepts as concentration economic scale state intervention in the market capital intensity and organization size worker power also is derived from diverse sources such as union membership occupational skill and licensing class position and tenure wi

the effects of coworker heterogeneity on firm level output assessing the impacts of cultural and language diversity in the national hockey league this paper uses data from the national hockey league nhl to consider the potential gains to firms from employing culturally diverse work teams it finds that the presence of foreign workers does increase firm level performance nhl teams that employed a higher proportion of european players performed better however the results also indicate that teams perform better when their european players come from the same country rather than being spread across many european countries when teams have players from a wide array of european countries integration costs associated with language and cultural differences may start to over ride any gains from diversity

are competitors forward looking in strategic interactions field evidence from multistage tournaments abstract this paper investigates whether decision makers are forward looking in dynamic strategic interactions and incorporate variations of continuation values in their choices using data from professional and semi professional basketball tournaments we find that the expected relative strength of a team in future interactions indeed affects behavior in the present the results also show that the response to changes in the continuation value is stronger if the structure of prizes is convex across stages if the players are in a decisive game and if the prevalence of free riding within a team is low

job assignments signalling and efficiency this article analyzes a model in which information about a worker s ability is only directly revealed to the firm employing the worker other firms however use the worker s job assignment as a signal of ability three results recur throughout the analysis first wage rates tend to be more closely associated with jobs than with ability levels second there is frequently an inefficient assignment of workers to jobs i e even when a firm has complete information about a worker s output third the severity of this inefficiency tends to be negatively correlated with the level of firm specific human capital in the economy

the future of microeconomic theory the question of what constitutes good economic theory is analyzed current good and bad aspects of its methodologies are discussed interdisciplinary work that goes beyond the social sciences is advocated the future predictions are presented concerning research in game theory and the economics of information finally the importance of technology and the need for microeconomists to understand it better are argued

the demand for gasoline in south africa an empirical analysis using co integration techniques abstract using the recently developed autoregressive distributed lag ardl bound testing approach to co integration suggested by pesaran et al pesaran m h shin y smith r j bounds testing approaches to the analysis of level relationships journal of applied econometrics 2001 16 3 289 326 we empirically analyzed the long run relationship among the variables in the aggregate gasoline demand function over the period 1978 2005 our study confirms the existence of a co integrating relationship the estimated price and income elasticities of 0 47 and 0 36 imply that gasoline demand in south africa is price and income inelastic

the economic design of sporting contests what is the optimal number of entrants in a race or the optimal number of teams in a baseball league what is the optimal structure of prizes for a golf tournament or degree of revenue sharing for a football championship how evenly balanced should the competing teams be in the nascar or formula one championships what is the maximum number of entrants per nation to the olympic games that should be permitted what quota of qualifying teams to the soccer world cup should be allocated to the developing nations

classic promotion tournaments versus market based tournaments as initially formulated in the seminal analysis of lazear and rosen 1981 an important perspective for understanding the role of promotions in firms is the tournament perspective that is a promotion and in particular the wage increase associated with a promotion is a prize that serves as an incentive for workers to exert effort and take other actions beneficial to the firm such as the accumulation of human capital in this paper i consider whether the best way to model promotion tournaments is by having firms commit to prizes ex ante as in lazear and rosen s initial formulation or whether promotion prizes should be modeled as arising from the signaling role of promotions and the competition between firms for promoted workers

retracted factors affecting commercial energy consumption in pakistan progress in energy the purpose of this study is to identify major macroeconomic factors that enhance energy consumption for pakistan through the cointegration error correction model and granger causality tests over a 32 year time period i e between 1980 and 2011 the study employed the bivariate cointegration technique to estimate the long run relationship between the variables an error correction model was used to determine the short run dynamics of the system while granger causality test was used to find the directions between these variables the study investigates the relation between four energy consumption variables i e oil petroleum consumption gas consumption electricity consumption and coal consumption and four macroeconomic factors which have further sub classifications i e balance of payment bop factors i e exports imports trade deficit worker s remittances and current account balance fuel factors i e carbon dioxide emissions natural resource depletion and net forest depletion agricultural crops yield per hectare i e wheat rice sugarcane maize and cotton and industrial production items i e beverages cigarettes motor tyres motor tubes cycle tyres and cycle tubes in order to manage robust data analysis the result confirms the long run relationship between total commercial energy consumption and macroeconomic factors in pakistan as oil petroleum consumption increases exports fuel factors agricultural crops yield per hectare and industrial items however the intensity of these factors are different in nature carbon dioxide emissions net forest depletion beverages motor tyres and motor tubes are more elastic with oil petroleum consumption however oil petroleum consumption decreases trade deficit and workers remittances in pakistan gas electricity and coal consumption increases agricultural crops yield per hectare and industrial production which shows that as agriculture and industry modernizes energy demand increases energizing the food production chain is an essential feature of agricultural development which is a prime factor in helping to achieve food security in pakistan the empirical results only moderately support the conventional view that energy consumption has significant long run casual effect on macroeconomic variables in pakistan the present study finds evident of unidirectional causality between the commercial energy consumption factors and macroeconomic factors in pakistan however there is some bidirectional causality exist which is running between electricity consumption ec and exports ec to imports ec to carbon emissions ec to natural resource depletion nrd and ec to wheat the results conclude that macroeconomic variables tend to positively respond to total primary energy consumption this indicates that increasing total commercial energy consumption may cause growth variables which show that pakistan is an input driven economy

disaggregated industrial energy consumption and gdp the case of shanghai 1952 1999 abstract this paper investigates the causal relationship between various kinds of industrial energy consumption and gdp in shanghai for the period 1952 1999 using a modified version of the granger 1969 causality test proposed by toda and yamamoto j econ 66 1995 225 the empirical evidence from disaggregated energy series seems to suggest that there was a uni directional granger causality running from coal coke electricity and total energy consumption to real gdp but no granger causality running in any direction between oil consumption and real gdp

carbon emissions energy consumption and economic growth an aggregate and disaggregate analysis of the indian economy abstract this study investigates the long and short run relationships among carbon emissions energy consumption and economic growth in india at the aggregated and disaggregated levels during 1971 2014 the autoregressive distributed lag model is employed for the cointegration analyses and the vector error correction model is applied to determine the direction of causality between variables results show that a long run cointegration relationship exists and that the environmental kuznets curve is validated at the aggregated and disaggregated levels furthermore energy total energy gas oil electricity and coal consumption has a positive relationship with carbon emissions and a feedback effect exists between economic growth and carbon emissions thus energy efficient technologies should be used in domestic production to mitigate carbon emissions at the aggregated and disaggregated levels the present study provides policy makers with new directions in drafting comprehensive policies with lasting impacts on the economy energy consumption and environment towards sustainable development

a multivariate cointegration analysis of the role of energy in the us macroeconomy abstract this paper extends my previous analysis of the causal relationship of gdp and energy use in the usa in the post war period a majority of the relevant variables are integrated justifying a cointegration analysis the results show that cointegration does occur and that energy input cannot be excluded from the cointegration space the results are plausible in terms of macroeconomic dynamics the results are similar to my previous granger causality results and contradict claims in the literature based on bivariate models that there is no cointegration between energy and output

superstars in the national basketball association economic value and policy an econometric analysis demonstrates that television ratings for nba games are substantially higher when certain players superstars are involved thus these superstars are quite important for generating revenue not only for their own teams but for other teams as well using the econometric analysis and additional information on attendance and paraphernalia sales we estimate the value of michael jordan to the other nba teams to be approximately 53 million the positive externality superstars have on other teams can lead to an inefficient distribution of player talent we examine several league policies that might be used to address the externality

energy use for economic growth a trivariate analysis from tunisian agriculture sector abstract following the importance of energy in the agrarian economies the investigation of the causal relationship between energy consumption in agriculture sector and economic growth has a fundamental role in implementing suitable policies this paper examines the causal relationship between energy consumption and agricultural value added controlling for trade openness in tunisia from 1980 to 2007 the relationship is investigated at aggregated as well as disaggregated components of energy consumption including oil and electricity using granger s technique it is shown that various results are obtained regarding the direction of causality between competing variables nevertheless the most common finding suggest that trade openness and both aggregated and disaggregated energy consumption granger causes agricultural value added therefore the energy led growth and trade led growth hypotheses are supported in the tunisian agriculture sector an important policy implication resulting from this study is that energy can be considered as a limiting factor to agriculture value added and therefore shocks to energy supply would have a negative impact onto agriculture performance furthermore trade liberalization seems to be a stimulus factor to the tunisian agriculture development

causal relationships between energy consumption foreign direct investment and economic growth fresh evidence from dynamic simultaneous equations models this paper examines the interrelationships between energy consumption foreign direct investment and economic growth using dynamic panel data models in simultaneous equations for a global panel consisting of 65 countries the time component of our dataset is 1990 2011 inclusive to make the panel data analysis more homogenous we also investigate this interrelationship for a number of sub panels which are constructed based on the income level of countries in this way we end up with three income panels namely high income middle income and low income panels in the empirical part we draw on the growth theory and augment the classical growth model which consists of capital stock labor force and inflation with foreign direct investment and energy generally we show mixed results about the interrelationship between energy consumption fdi and economic growth

quality signaling through ex ante voluntary information disclosure in entrepreneurial networks evidence from franchising this paper examines antecedents of ex ante voluntary information disclosures for standardized contracts in entrepreneurial networks entrepreneurs e g franchisors may make such disclosures to prospective business partners in order to signal profitability of partnering attract financial and managerial resources and develop their entrepreneurial networks in practice only a fraction of franchisors make financial performance representations fprs an ex ante voluntary information disclosure to prospective franchisees we address gaps in the signaling voluntary information disclosure franchising entrepreneurship and small and medium enterprise sme literatures we draw on signaling theory to develop a theoretical framework and investigate factors that influence a franchisor s disclosure decision we evaluate hypotheses from our theoretical framework through econometric analyses of multi sector panel data for the us franchising industry we estimate a logit model and use lagged independent variables to address our dichotomous independent variable and potential endogeneity respectively our results support the view that firms signal their quality through fprs to attract potential business partners and expand their entrepreneurial networks beyond the extant literature we find that rigorous partner qualification is another driver of voluntary information disclosure in franchising our findings also provide empirical support for the complementary role played by multiple quality signaling mechanisms used by franchisors and yield public policy implications for franchising

cointegration and causality between electricity consumption and gdp empirical evidence from malawi abstract the granger causality gc and error correction ecm techniques were applied on 1970 1999 data for malawi to examine cointegration and causality between electricity consumption kwh and respectively overall gdp agricultural gdp agdp and non agricultural gdp ngdp cointegration was established between kwh and respectively gdp and ngdp but not with agdp the gc results detect bi directional causality between kwh and gdp suggesting that kwh and gdp are jointly determined but one way causality running from ngdp to kwh the ecm results detect causality running one way from gdp also from ngdp to kwh suggesting that a permanent rise in gdp may cause a permanent growth in electricity consumption

promotion signaling discrimination and positive discrimination policies this article studies discrimination in a model in which promotions are used as signals of worker ability the model can account for statistical and taste based discrimination in the short run a positive discrimination policy is beneficial for workers in the middle of the ability distribution because these workers are promoted if and only if the policy is in place instead workers of either high or low ability suffer from the policy in the long run the policy benefits all targeted workers the model can explain empirical findings about the effects of a gender quota on the boards of norwegian companies

the sports business as a labor market laboratory with superior data on compensation and productivity as well as the occurrence of abrupt dramatic market structure and player allocation rules changes sports labor markets offer an excellent setting in which to test economic hypotheses this paper reviews evidence from sports in four areas employer monopsony discrimination the coase theorem and incentive contracts supervision and performance there is considerable evidence of monopsony as well as for the existence of some forms of discrimination against minority athletes incentive contracts have strong effects on player performance and behavior and there is mixed evidence on the predictions of the coase theorem

new firm survival institutional explanations for new franchisor mortality why do some new firms succeed and others fail economists argue that new firms fail because entrepreneurs inefficiently manage production and organizational design williamson 1985 sociologists e g granovetter 1985 have typically viewed this explanation as undersocialized and argue that institutional legitimacy must also be considered to explain the survival of new firms this paper examines the survival of 1292 new franchisors established in the united states from 1979 1996 the results show that institutional legitimacy adds to economic explanations for the survival of new franchisors and suggests the importance of a properly socialized explanation

franchising growth and franchisor entry and exit in the u s market myth and reality abstract franchising has been and continues to be a very popular way to do business for a number of retailers and service businesses however the type of franchising that has been growing the most namely business format franchising has not grown at the kind of phenomenal rates that the trade press often suggests since the department of commerce doc canceled its publication franchising in the economy we no longer have access to census type data on franchising in the u s however looking at the period during which the doc did publish these data one finds that the number of business format franchisors is highly correlated with the number of units in these chains thus we use data from recent issues of various franchisor directories to assess the number of franchisors in the u s and infer from this how business format franchising has grown in the u s we find that business format franchising has been growing over the last decade at a rate that is at best commensurate with the growth of the economy as a whole we believe that the confusion about the extent of growth in franchising arises in part from the fact that many new firms enter into franchising each year leading to the notion that this way of doing business is growing tremendously however we show that many firms also exit from franchising each year for a net growth rate much below the entry rate this paper shows that franchising is not a panacea for entrepreneurs whether franchisor or franchisee from the franchisor s viewpoint the high rate of exits suggests that many firms fail despite franchising and many others choose to stop franchising after trying it for a few years clearly these firms have found that franchising is not right for them furthermore the results show that the characteristics of the chain at the time it becomes involved in franchising as described in the main franchisor directories such as the royalty rate the advertising fee the franchise fee the amount of capital required and the sector of operation have little capacity to explain survival the main variable that affects survival among those that are typically reported in franchisor listings is the number of years that the franchisor has been in business before starting to franchise hence our results suggest this is one dimension in which franchisors can make decisions that affect the probability that they will be successful in franchising although we are unable to explain most of the variance in outcome the results mostly imply that other less easily observed or quantified characteristics of the chain and the franchisor such as maybe the innovativeness of the product the amount of support provided to franchisees the financial backing of the franchisor etc likely influence success the most and thus are worth investigating further from the perspective of franchisees the amount of exit found here suggests that in the majority of systems franchisees cannot expect that their franchisor will be around for the whole duration of their contract which averages about 15 years according to the department of commerce this does not mean that the majority of franchised businesses will find themselves in an exiting system a small minority of very well established franchisors accounts for the majority of franchised businesses and these are likely to remain successful for years to come but entrepreneurs buying franchises from less established systems are likely to face franchisor exit either failure or departure this paper confirms that franchisees should thoroughly investigate the franchise system they want to invest in going beyond the information about royalty rates advertising rates rankings etc found in franchisor directories and toward more product market and other less easily accessible information about the chain

promotion turnover earnings and firm sponsored training i develop a model in which different technological conditions lead to distinct equilibria with different patterns in labor mobility promotion earning distribution and provision of firm sponsored training key is the asymmetric learning of workers characteristics because of the information that is conveyed to the market by promotion firms have incentives to adopt strategic promotion policies which result in different patterns in the use of internal labor market the theory explains well the differences between the japanese and the united states labor markets

industry level production functions and energy use in 12 eu countries abstract in the eu context industrial sectors have significantly reduced their energy consumption in the last decade despite significant disparities existing across industry branches comparative studies focused on the effect of energy use in the production growth of the different industry branches are limited and not related to the eu countries this study undertakes a production growth approach to analyze the effect of energy use in different industry branches through the estimation of translog production functions based on data from 12 eu countries during the 2000 2014 period in addition two sub periods are studied to evaluate if industrial energy efficiency has been improving through time specifically from 2007 findings confirm the existence of different behavior patterns with respect to energy use in the considered sectors and from one sub period to another as a result policy measures should be sector specific since no general production energy use patterns can be obtained

the role of natural gas consumption in saudi arabia s output and its implication for trade and environmental quality abstract in this paper we examines the contribution of natural gas consumption in the real gdp of saudi arabia using long span and recent time series data over the period 1968 2016 in a multivariate framework which incorporates total trade as additional variable by using the autoregressive distributed lag method of cointegration we find long run a cointegration equilibrium relationship between ngc total trade and real gdp with a positive significant relationship among the variables by applying the toda and yamamoto method to granger causality testing we find a one sided causality running from ngc to real gdp while between real gdp and trade ngc and total trade total trade and real gdp are without a feedback from our empirical results we suggest that natural gas conservation policy would hurt the demand for natural gas hinder total trade and thus retard domestic output however in the near future it is possible for the saudi arabian government to meet energy needs and enhance total trade by adopting renewable energy alternatives to natural gas results however upon which the policy implications are inferred should be applied with caution as they may not be feasible enough to justify the adoption of unappealing energy policy choice for saudi arabia

promotion signaling gender and turnover new theory and evidence we extend promotion signaling theory to incorporate gender and across firm mobility within and across job levels evidence from worker firm linked finnish panel data supports our theory for some groups controlling for worker performance inferred from performance related pay within firm promotion probabilities are increasing and wage increases from promotion are decreasing in educational attainment for some educational groups with results stronger for first than for subsequent promotions women have lower promotion probabilities than men and a greater sensitivity of promotion probability to educational attainment across firm promotions are rare but bring wage increases exceeding those for internal promotions and across firm lateral moves

literature survey on the relationships between energy environment and economic growth abstract the aim of this study is to exhibit an exhaustive survey which is related to the great flight of the literature of energy environment growth nexus at the individual and regional scale studies covering the period from 1978 to 2014 the survey takes into consideration the sample country region etc periods covering econometric strategies and conclusions our survey is based on the causality direction among i the energy use variables electricity nuclear renewable and non renewable and output growth ii between economic growth and environment and between the three variables at the same time globally these surveys provide paradoxical and not conclusive results which energy consumption can boost economic growth through the productivity enhancement and it can boost also the environmental damages through the enhancement of pollutant emissions our survey sheds more the lights on the energy environment growth literature by giving an extensive listing 1978 2014 of these causal linkages among the energy use variables environment and economic growth for both individual and collective cases there is a unanimous consensus about the importance of dealing with such dynamic relationship which is seems to be a cornerstone element in setting any ambition strategies energy ecological and economics

energy consumption and economic growth the experience of african countries revisited abstract the aim of this paper is to re examine the causal relationship between energy consumption and economic growth for seventeen african countries in a multivariate framework by including labor and capital as additional variables we apply the variance decomposition analysis due to pesaran and shin pesaran m h and shin y generalised impulse response analysis in linear multivariate models economics letters 1998 58 17 29 to evaluate how important is the causal impact of energy consumption on economic growth relative to labor and capital the results of our multivariate modified granger causality analysis due to toda and yamamoto toda h y and yamamoto t statistical inference in vector autoregressions with possibly integrated process journal of econometrics 1995 66 225 250 tend to reject the neutrality hypothesis for the energy income relationship in fifteen out of the seventeen countries in contrast results of our variance decomposition analyses show that in eleven out of the seventeen countries energy is no more than a contributing factor to output growth and not an important one when compared to capital and labor labor and capital are the most important factors in output growth in fifteen out of the seventeen countries however these results should be interpreted with care as they may not be sufficiently robust enough to support the inference that energy consumption plays a minor role in the economic growth of african countries

the importance of energy quality in energy intensive manufacturing evidence from panel cointegration and panel fmols this paper expands on the panel gdp energy cointegration modeling literature it does so by using data disaggregated along sectoral lines and adjusting energy consumption for the quality of the energy source e g electricity is of higher quality than oil which is of higher quality than coal in order to examine the role of energy quality in the five most energy intensive manufacturing sectors iron and steel non ferrous metals non metallic minerals chemicals and pulp and paper the database was constructed by combing energy consumption and energy price data to construct the energy quality index from the iea with economic data value added labor employed and physical capital from the oecd s structural analysis database in addition to finding the variables analyzed are panel i 1 and cointegrated for each sector based panel the long run elasticity estimates from panel fmols indicate the importance of energy quality primarily the shift toward the use of high quality electricity in these energy intensive manufacturing sectors in each case the elasticity for energy quality is greater than that for conventionally measured energy consumption sometimes orders of magnitude greater indeed the elasticity of conventionally measured energy consumption is insignificant to very small for three of the five sectors also when using the energy quality measure the importance of energy consumption relative to the other production factors stands out such results are useful for both energy gdp cointegration causality modelers and cge modelers who may need to estimate elasticities

a meta analysis investigation of the direction of the energy gdp causal relationship implications for the growth degrowth dialogue abstract the complex relation between energy use and the economic process has long attracted attention issues such as the scarcity of energy resources energy theory of value degrowth and a growth approaches are closely related to the relationship between energy and development the present study traces the implications of the energy gdp causality dialogue for the context of the growth degrowth debate where the energy development link plays a decisive role in that context the present research investigates the possible existence of a fundamental macro direction of causality between energy use and economic growth that is not influenced by study specific characteristics and events towards this objective we perform a meta analysis that takes into account 158 studies on causality between energy and gdp covering the period 1978 2011 this is the first time to our knowledge that meta analysis has been applied to investigate the direction of the energy and gdp causal relationship the meta analysis results neither support the existence of a fundamental macro direction nor the so called neutrality hypothesis e gdp in the causal relationship between energy consumption and economic growth

organizational incentives and organizational mortality despite a long tradition of research on organizational mortality organizational theorists have not examined the effect of incentive contracting on firm survival this paper fills this gap by examining the effect of incentive contracting on the survival of u s business format franchise systems over the period 1984 1996 the paper finds empirical support for several hypotheses derived from efficient contracting theory in general large firms that adopt policies which screen agents signal quality and control agents free riding are more likely to survive than large firms which do not adopt these policies

corporate tournaments human capital acquisition and the firm size wage relation this paper provides a possible explanation for the empirically observed size wage effect and inter industry wage differences it develops a model in which incentives for workers to accumulate general human capital are provided by corporate tournaments where workers with the highest level of general human capital win promotions given that the prizes in such tournaments are determined by outside market conditions the investment and the equilibrium wages depend on firm and industry characteristics the model implies that workers in bigger firms and in more technology intensive and profitable firms and industries acquire more human capital and receive higher wages and benefits

performance promotion and the peter principle this paper considers why organizations use promotions rather than just monetary bonuses to motivate employees even though this may conflict with efficient assignment of employees to jobs when performance is unverifiable use of promotion reduces the incentive for managers to be affected by influence activities that would blunt the effectiveness of monetary bonuses when employees are risk neutral use of promotion for incentives need not distort assignments when they are risk averse it may sufficient conditions for this are given the distortion may be either to promote more employees than is efficient the peter principle effect or fewer

the payoff to consistency in performance this study investigates whether firms are willing to pay higher wages to workers who demonstrate consistent performance than to those whose performance is more volatile a formal model reflects a production technology view assuming the law of diminishing marginal product this model suggests that a more consistent worker produces higher expected output and therefore receives a higher wage the test of the model uses data from the national basketball association the empirical data support the model players whose performances were more consistent than the performances of other players received higher wages on average jel d41 j31 m52 z20

the saving and investment nexus for china evidence from cointegration tests the saving and investment nexus as postulated by feldstein and horioka fh 1980 is revisited the saving investment correlation for china is estimated over the periods 1952 1998 and 1952 1994 the latter culminating in a period of fixed exchange rate regime amongst the key results it is found that saving and investment are correlated for china for both the period of the fixed exchange rate and the entire sample period with high saving investment correlation the results suggest that the chinese economy is in conformity with the fh hypothesis this is a valid outcome for in china capital mobility was fairly restricted over the 1952 1994 period as indicated by the relatively low foreign direct investment

the relationship between disaggregate energy consumption and industrial production in the united states an ardl approach abstract we re examine the relationship between disaggregate energy consumption and industrial output as well as employment in the united states using the autoregressive distributed lag ardl approach developed by pesaran and pesaran pesaran m h pesaran b 1997 working with microfit 4 0 camfit data ltd cambridge and pesaran shin and smith pesaran m h shin y smith r j 2001 bounds testing approaches to the analysis of level relationships journal of applied econometrics 16 289 326 in particular we focus attention on the following energy consumption variables coal fossil fuels conventional hydroelectric power solar energy wind energy natural gas wood and waste the sample period covers 2001 1 2005 6 our results imply that real output and employment are long run forcing variables for nearly all measures of disaggregate energy consumption

performance and revenue in professional league football evidence from granger causality tests using a dataset comprising annual performance measured by final league position and gate revenue for 77 football league clubs which maintained unbroken league membership between 1946 and 1994 the relationship between performance and revenue is investigated using cointegration and causality tests a cointegrating relationship between performance and revenue is established in only 10 cases out of 77 although it is argued that some caution is required in interpreting these results due to the low power of the relevant tests in relatively small samples in granger causality tests more evidence is found of causality running from lagged revenue to current performance than of causality in the opposite direction while the dependence of performance on revenue seems to be greater for the smaller clubs than for the larger these results lend empirical support to the popular view that unless checked by mechanisms for revenue redistribution within the league the natural tendency is for success to become concen

strategic promotion and compensation within a hierarchical firm structure this paper details how the composition of a worker s skills and the non observability of a worker s ability affect wage and promotion paths promotionbased compensation schemes derive naturally from the worker s asymmetrically observed ability promotion takes place over time and is inefficient since employers strategically exploit their knowledge of an able worker s ability conversely employers may be unable to efficiently demote and retain bad managers without paying bonuses employers are led to promote educated employees before their equally or more able but uneducated counterparts explanations for fast track promotions plans and other empirical regularities are provided

the electricity consumption and gdp nexus for the fiji islands fiji is a small open island economy dependent on energy for its growth and development hence the relationship between energy consumption and economic growth is crucial for fiji s development in this paper we investigate the nexus between electricity consumption and economic growth for fiji within a multivariate framework through including the labour force variable we use the bounds testing approach to cointegration and find that electricity consumption gdp and labour force are only cointegrated when gdp is the endogenous variable we use the granger causality f test and find that in the long run causality runs from electricity consumption and labour force to gdp implying that fiji is an energy dependent country and thus energy conservation policies will have an adverse effect on fiji s economic growth

the residential demand for electricity in australia an application of the bounds testing approach to cointegration this paper reports estimates of the long and short run elasticities of residential demand for electricity in australia using the bounds testing procedure to cointegration within an autoregressive distributive lag framework in the long run we find that income and own price are the most important determinants of residential electricity demand while temperature is significant some of the time and gas prices are insignificant our estimates of long run income elasticity and price elasticity of demand are consistent with previous studies although they are towards the lower end of existing estimates as expected the short run elasticities are much smaller than the long run elasticities and the coefficients on the error correction coefficients are small consistent with the fact that in the short run energy appliances are fixed

disaggregate energy consumption and industrial production in south africa abstract this paper tries to assess the relationship between disaggregate energy consumption and industrial output in south africa by undertaking a cointegration analysis using annual data from 1980 to 2005 we also investigate the causal relationships between the various disaggregate forms of energy consumption and industrial production our results imply that industrial production and employment are long run forcing variables for electricity consumption applying the toda h y yamamoto t 1995 statistical inference in vector autoregressions with possibly integrated processes journal of econometrics 66 225 250 technique to granger causality we find bi directional causality between oil consumption and industrial production for the other forms of energy consumption there is evidence in support of the energy neutrality hypothesis there is also evidence of causality between employment and electricity consumption as well as coal consumption causing employment