reconsidering the regional economic development impacts of higher education institutions in the united states drucker j reconsidering the regional economic development impacts of higher education institutions in the united states regional studies this study models relationships between us higher education activities and regional economic performance 2001 11 advances include incorporating all degree granting institutions estimating spatial spillovers and comparing multiple economic outcomes including production and entrepreneurship higher education impacts vary by outcome measure but are less influential than in previous studies spillovers are substantial up to 60 miles 97 kilometres reflecting considerable influence across space more advanced degrees science and engineering education and population educational attainment are positively associated with entrepreneurial activity these findings encourage the traditional university missions of research and teaching and general policies promoting entrepreneurship to support economic performance

education poverty and terrorism is there a causal connection the paper investigates whether there is a connection between poverty or low education and terrorism we review evidence on hate crimes which are closely related to terrorism the occurrence of hate crimes is largely independent of economic conditions we analyze data on support for attacks against israeli targets from public opinion polls conducted in the west bank and gaza strip support for violent attacks does not decrease among those with higher education and higher living standards the core contribution of the paper is a statistical analysis of the determinants of participation in hezbollah militant activities having a living standard above the poverty line or a secondary or higher education is positively associated with participation in hezbollah we also find that israeli jewish settlers who attacked palestinians in the west bank in the early 1980s were overwhelmingly from high paying occupations although our results are tentative and exploratory they suggest that neither poverty nor education has a direct causal impact on terrorism

regional earnings differences in great britain evidence from the new earnings survey hemmings p j 1991 regional earnings differences in great britain evidence from the new earnings survey reg studies 25 123 133 previous analysis comparing earnings between regions of great britain has concentrated upon the earnings of male employees using a large micro data base this paper takes a broader approach by examining earnings differences for female and part time employees as well as male employees human capital models are used to explain the variation in earnings in terms of characteristic differences and reward effects a restricted model with no regional element is tested against more general models which allow for regional variation in the constant term only and in both the constant and coefficients of the equations the most general model indicates that equations for the earnings of males display greater regional heterogeneity than those for females whilst the south east of england is the most distinctive region in terms of employee characteristics and in the returns to those e

aggregate demand for electricity in south africa an analysis using the bounds testing approach to cointegration abstract electricity demand in south africa has grown at a very rapid rate over the past decade as part of reform initiatives to enhance long term sustainability of the country s electricity industry south africa s authorities have in recent years sought to develop an electricity pricing framework that is cost reflective and forms the cornerstone of demand management schemes meant to foster changes in consumption behaviour and enhance efficiency in resource use the effects of any pricing policy on aggregate electricity consumption will depend on a useful understanding of the factors that influence electricity demand and the magnitude to which electricity demand responds to changes in such factors in this context this paper applies the bounds testing approach to cointegration within an autoregressive distributed lag framework to examine the aggregate demand for electricity in south africa during the period 1960 2007 the results indicate that in the long run income is the main determinant of electricity demand with electricity prices having an insignificant effect on aggregate electricity demand future pricing policies will need to ensure that electricity prices are cost reflective and enhance efficiency of electricity supply and use

state characteristics and the location of foreign direct investment within the united states a conditional logit model of the location decision of foreign firms investing in manufacturing facilities in the united states is developed and estimated the authors results for 1981 83 indicate that states with higher per capita incomes and higher densities of manufacturing activity attracted relatively more foreign direct investment in addition higher wages deterred foreign direct investment while higher unemployment rates attracted it surprisingly higher unionization rates were associated with increased foreign direct investment overall higher taxes deterred foreign direct investment however more extensive transportation infrastructures and larger promotional expenditures were associated with increased foreign direct investment copyright 1991 by mit press

regional migration in britain an analysis of gross flows using nhs central register data the authors extend the use of a hiring function model whereby job seekers are matched with vacancies to the analysis of regional migration in britain annual data from the national health service central register for 1975 1989 are used to show that unemployment and vacancy rates distance and an index of similarities across regions in industry based employment composition help determine migration flows across regions the hiring function approach offers a consistent way of modelling gross and net flows and helps explain both the high level of gross relative to net flows and the tendency for migration to fall in a recession even when unemployment differentials widen excerpt

the third way and the third sector new labour s economic policy and the social economy this paper reviews the relationship between labour s economic policy and the third sector since 1997 the third sector has received significant government support and has gradually moved from the economic periphery towards the centre such that it is now instrumental in the delivery of a range of government policies it operates alongside both the private and public sectors in delivering employment education health and social care housing and environmental policies the impact of this has been seen in measures of social exclusion poverty the environment social capital as well as gdp and employment future policies should strive to maintain and develop the distinctive capabilities of third sector organisations and the balance between economic social and environmental objectives

universities as strategic actors in the knowledge economy the university plays a particular role in the global knowledge economy as provider of both public and private goods related to education research and societal impacts at the same time universities in the plural play many different roles and exhibit a rich experimentation in organizational forms and knowledge foci adapting to local and global conditions there is also an aspect of uneven regional development and agglomeration of competencies as the individuals and organizations must also balance local interests and stakeholders with global networks in science technology and innovation thus we can identify empirically that universities are changing their strategies organizational structures and competencies in order to respond to new external demands and internal management practices bonaccorsi and daraio 2007 the question is how to explain this theoretically and identify empirical trends and pathways little previous research has focused upon how universities are learning to compete and why they try to act strategically this article as well as the selected articles in the special issue focus upon how and why this transition is occurring as well as the impacts for understanding universities as strategic actors in the knowledge economy section 2 provides an overview it introduces the three themes and articles collected in this special issue providing a summary of the main contributions section 3 then provides our perspective on how to analyze and understand universities as strategic actors it discusses relevant literature as a way of beginning to provide our perspective of the necessity and elements involved in a more united theoretical and empirical understanding this includes statement of predictions as well as empirical evidence that these trends are occurring section 4 concludes with relevant research themes for the future

human capital formation and local economic performance bradley s and taylor j 1996 human capital formation and local economic performance reg studies 30 1 14 this paper is concerned with the interaction between the vocational education and training system vet and local economic performance in britain after briefly discussing the shortcomings of britain s vet system the paper examines the way in which the education and training system and the local economy interact in particular it is argued that the outputs from the local education and training system determine and are determined by the locality s stock of high skill workers these high skill workers in turn help to determine the competitiveness and hence the economic performance of the local economy this has feedback effects on the stock of high skill workers through its effect on the occupational mix of in migrants some empirical tests of the model are provided based on data relating to 107 local education authority areas in england bradley s et taylor j 1996 la formation du capi

impacts of renewables obligation with recycling of the buy out fund tradable green certificate tgc or renewables obligation ro programs typically include a buy out option but only in the uk the buy out fund is redistributed back to the suppliers who have submitted the certificates we show that when the buy out fund is redistributed the supply of renewable energy responds positively to the market conditions and renewables target without it the buy out rate is equivalent to a maximum price however redistribution of the buy out fund may induce strategic behavior from producers who have market power we analyze the impacts of market power and integration on the supply of conventional and renewable energy under the ro program with the buy out fund recycled and devise some empirical tests to predict these impacts policy implications of this study are discussed with special reference to the new fit cfd system

the local income and employment impact of lancaster university the paper presents the results of an analysis using keynesian local open economy multipliers of the impact of lancaster university upon income and employment in the local city and surrounding hin

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

impacts of grants and contracts on academic researchers interactions with industry abstract based on a representative national sample of 1564 academic researchers we investigate the impacts of research grants and contracts on the nature and extent of faculty research and technology activities with industry a particular focus is on understanding the independent contributions of industry and government grant sources on levels of industrial involvement in addition to examining the source of grants the study controls for a number of independent factors including scientific field research center affiliation tenure status and gender results suggest independent effects of grants and contracts on industrial activities grants and contracts from industry have a significant effect on academic researchers propensity to work with industry as measured by an industrial involvement scale federally sponsored grants also have an impact in increasing work with industry but a more moderate one further those with more grants and contracts of each type have a greater propensity for industrial involvement than those who have such contracts but fewer this holds even when proxies for productivity and career stage are introduced in regression equations the analysis also considers whether provision of grants and contracts is best viewed as a predictor of industrial involvement or just another type of industrial involvement using factor analysis and nested multivariate modeling to compare effects

modelling aggregate domestic electricity demand in ghana an autoregressive distributed lag bounds cointegration approach in spite of the varying supply boosting efforts made by various governments to deal with the existing demand supply gap in the electricity sector the incessant growth in aggregate domestic electricity demand has made these efforts futile as an objective this paper attempts to identify the factors responsible for the historical growth trends in aggregate domestic electricity demand quantifying their effects both in the short run and long run periods using the ardl bounds cointegration approach and the sample period 1975 to 2005 in the long run real per capita gdp industry efficiency structural changes in the economy and degree of urbanisation are identified as the main driving force behind the historical growth trend in aggregate domestic electricity demand however in the short run real per capita gdp industry efficiency and degree of urbanisation are the main drivers of aggregate domestic electricity demand industry efficiency is the only factor that drives aggregate domestic electricity demand downwards however the negative efficiency effect is insufficient to have outweighed the positive income output and demographic effects hence the continual growth in aggregate domestic electricity demand as a policy option we recommend that appropriate electricity efficiency standards be implemented at the industry level

contributions of universities to regional economic development a quasi experimental approach goldstein h a and renault c s 2004 contributions of universities to regional economic development a quasi experimental approach regional studies38 733 746 universities potentially contribute to regional economic development in a number of ways research creation of human capital through teaching technology development and transfer and co production of a favourable milieu we find that the research and technology creation functions generate significant knowledge spillovers that result in enhanced regional economic development that otherwise would not occur yet the magnitude of the contribution that universities research and technology development activities play is small compared with other factors we use a quasi experimental approach to explain variation in change in average earnings per job across 312 metropolitan statistical areas in the usa in 1969 86 and 1986 98 goldstein h a et renault c s 2004 la contribution des universites au developpement economique regional une facon qua

beyond the silicon valley university r d and high technology location abstract in this paper we examine high technology location in us counties focusing on the relationship with university research and development r d the dirichlet multinomial model an extension of the conditional logit model that allows for overdispersion is used to estimate the determinants of manufacturing establishment births in us counties we test the hypothesis that university r d generates spillovers captured locally as new high technology establishments after controlling for local costs demand agglomeration economies and other important location factors estimates show that r d expenditures at universities exert a positive statistically significant influence on the decision to locate plants in a county the marginal impacts of increased r d funding on county probabilities for new high tech plant births however appear to be modest separate estimates indicate that the findings hold up across most individual high tech industries our model also determines the distance from university r d in which economic spillovers can be detected spillover effects may extend up to approximately 145 miles from universities

the drivers of efficient knowledge transfer performance evidence from british universities using data from the united kingdom this study explores the institutional and environmental factors that influence universities efficiency in knowledge transfer while studies of universities knowledge transfer performance have so far focused on patent commercialisation and research contracting with industry it is increasingly acknowledged that universities engage in a broader range of knowledge transfer activities including consulting public engagement and provision of knowledge intensive services when these are taken into account less research intensive universities and those with a greater share of staff in the arts and humanities improve their relative efficiency more specialised older and larger institutions are more efficient performers while research intensity is no longer a strong predictor of efficiency

home field advantage location decisions of portuguese entrepreneurs an investor s home bias in industrial location decisions may stem from personal factors social capital other non transferable assets and imperfect information about the urban and regional environment this paper explores the distinction between home base and non home location decisions in portugal we reach two important conclusions first the introduction of a variable accounting for prior base of economic activity significantly improves the statistical results second we find that the weighting of distinct location attributes differs between home and non home locations notably non home location choices are strongly governed by agglomeration economies and proximity to major urban centers possibly replicating prior location decisions to economize on search costs the results also enable us to quantify the investor s willingness to opt for a possible home field advantage for example entrepreneurs accept over three times higher labor costs to compete in their resident area of business 2002 elsevier science usa all rights reserved

socioeconomic development and electricity consumption a cross country analysis using the random coefficient method this paper analyses the relationship between electricity consumption and socioeconomic variables by estimating the electricity consumption function on the basis of single year cross country data and using ols and random coefficient rc methods the latter method yields both mean response as well as country specific coefficients while electricity consumption is found to rise with socioeconomic development it is found to be inelastic with respect to changes in all the variables the estimated country specific coefficients with respect to per capita gnp and share of industry in gdp are found not to vary across countries indicating that the impact of these variables on electricity consumption is similar across countries on the other hand the impact of other variables years of schooling gdp growth urbanization and population density is found to vary substantially across countries

the evolution of price elasticity of electricity demand in south africa a kalman filter application abstract in south africa the electricity mismatch of supply and demand has been of major concern additional to past problems the 2008 electricity crisis made the solution crucial after its damaging consequences to the economy the disagreement on the need and consequences of the continuous electricity price hikes worsens the situation to contribute to the recent electricity debate this paper proposes a time varying price elasticity of demand for electricity the sensitivity of electricity consumption to price fluctuations changes throughout the years the main purpose of this study is the estimation of the price elasticity of electricity in south africa during the period 1980 2005 by employing an advanced econometric technique the kalman filter apart from the decreasing effect of electricity prices to consumption 71 8 in the 1990s and 94 5 in the 2000s in average our results conclude to an important finding the higher the prices for example in the 1980s the higher the sensitivity of consumers to price fluctuations thus further increases of the electricity prices may lead to changes in the behaviour of electricity consumers focusing their efforts on improving their efficiency levels by introducing demand side management techniques or even turning to other sources of cheaper energy

leveraging knowledge as a competitive asset the intensity performance and structure of universities entrepreneurial knowledge exchange activities at a regional level universities are no longer considered to be isolated islands of knowledge but as institutions increasingly engaged with a range of external partners through entrepreneurial activities this paper examines the associations between the intensity and performance of knowledge exchange activities undertaken in uk universities with non academic actors drawing on data concerning the structural factors of interactions of universities in the uk with external partners the paper sheds further light on the nature of these activities through a prism of competitive and uncompetitive regions in order to better understand how universities may be able to leverage both their knowledge and partnerships more effectively as competitive assets on the one hand it is found that academics in uncompetitive regions are more intensively engaged in entrepreneurial activities but generate less income from them than their counterparts in competitive regions suggesting that there are differences in the income generating capacity of academics across regions on the other hand academic knowledge is found to be more strongly bounded within a certain distance in uncompetitive regions whilst geographical distance seems less of a hindrance to academics in competitive regions

capital energy substitution and the multi level ces production function abstract this paper has clarified a misconception in sato s multi level ces production function and used the function in testing for capital energy substitution in taiwanese manufacturing the empirical results show that capital and energy are substitutes and the aes estimates differ little from those derived from the translog approximation

long and short run elasticities of residential electricity consumption in china a partial adjustment model with panel data abstractwhile it has stabilized in developed world the per capita residential electricity consumption rec in developing countries such as china is growing very rapidly and this trend is very likely to continue built upon a provincial level panel data we employ a partial adjustment model to investigate the future trend of rec in china and factors that affect it we estimate the income and price short term and long term elasticities for urban and rural china respectively and compare the results with rec studies in other countries or regions the findings provide useful information to understand how the rec would grow in china as household income increases and how effective that price could be as an intervention tool

the demand for electricity in the gcc countries abstract cointegration techniques are used to study the effects of economic variables on electricity demand in the gcc countries a dynamic model is estimated using aggregate data for the six states spanning the period 1970 97 statistical investigations confirm the existence of unit root in all time series employed in the study which called for the use of cointegration and error correction methodologies empirical results indicate that both income and price have an impact on electricity consumption and income and price policies could be effectively facilitated in electricity demand management

the impact of the university of portsmouth on the local economy this study measures the local impact using various detailed databases which allow more accurate measurement of for example the amount the university spends in the local economy rather than elsewhere in order to assess the total i e direct indirect and induced effects of direct university spending an input output table was constructed this table is not based on the more usual non survey approach but on direct information on sales imports and exports which were collected through survey work thus it is argued that the present estimates provide more accuracy than has generally been possible in other studies using these various databases it was estimated that in 1994 95 total expenditure by the university sector in the local economy amounted to 38 5m this direct expenditure was estimated to result in an output multiplier effect of between 1 24 and 1 73 although it is argued that the higher type 2 multipliers are more likely to reflect the full impact of the university in terms of employmen

a theory of urban growth in an economy experiencing endogenous economic growth and exogenous population growth we explore two main themes how urbanization affects efficiency of the growth process and how growth affects patterns of urbanization localized information spillovers promote agglomeration and human capital accumulation fosters endogenous growth individual city sizes grow with local human capital accumulation and knowledge spillovers and city numbers generally increase which we demonstrate is consistent with empirical evidence we analyze whether local governments can successfully internalize local dynamic externalities in addition we explore how growth involves real income differences across city types and how urbanization can foster income inequality most nonagricultural production in developed countries occurs in metropolitan areas the underlying reasons why economic activity agglomerates into cities localized information and knowledge spillover also make cities the engines of economic growth in an we gratefully acknowledge support of the national science foundation grants sbr 9422440 and sbr9730142 for this research the work has benefited from conversations with harl ryder on the dynamics of the model and from comments by gilles duranton and participants in seminars at brown colorado and texas austin and a presentation at an isit seminar sponsored by the centre for economic policy research and the national bureau of economic research

electricity output ratio and sectoral electricity use the case of east and southeast asian developing countries abstract continuing a recent line of investigation the relationship between electricity use and economic growth and the changes in the sectoral composition of electricity consumption are examined for eight developing countries in east and southeast asia it is found that the relative rate of growth of electricity consumption to gdp declined over time and there were no systematic variations in the sectoral composition of electricity use both over time and across countries

driving fatalities after 9 11 a hidden cost of terrorism we show that the public s response to terrorist threats can have unintended consequences that rival the attacks themselves in severity driving fatalities increased significantly after the 11 september 2001 terrorist attacks events that prompted many travellers to substitute road transportation for safer air transportation after controlling for time trends weather road conditions and other factors we find that travellers response to 9 11 resulted in 327 driving deaths per month in late 2001 moreover while the effect of 9 11 weakened over time as many as 2300 driving deaths may be attributable to the attacks

electricity consumption and economic growth a case study of china abstract this study examines the relationship between electricity consumption and economic growth in china during 1950 1980 the results show that the income elasticity of electricity consumption is significantly greater than one ranging from 2 33 to 2 72 and the electricity gdp ratio or electricity intensity has increased over time with the growth rate of 7 3 pa during 1950 1980 these results suggest that the policy makers in china should pay more attention to electricity conservation policies and structural changes in production

modelling residential electricity demand in the gcc countries abstract this paper aims at understanding the drivers of residential electricity demand in the gulf cooperation council countries by applying the structural time series model in addition to the economic variables of gdp and real electricity prices the model accounts for population weather and a stochastic underlying energy demand trend as a proxy for efficiency and human behaviour the resulting income and price elasticities are informative for policy makers given the paucity of previous estimates for a region with particular political structures and economies subject to large shocks in particular the estimates allow for a sound assessment of the impact of energy related policies suggesting that if policy makers in the region wish to curtail future residential electricity consumption they would need to improve the efficiency of appliances and increase energy using awareness of consumers possibly by education and marketing campaigns moreover even if prices were raised the impact on curbing residential electricity growth in the region is likely to be very small given the low estimated price elasticities unless that is prices were raised so high that expenditure on electricity becomes such a large proportion of income that the price elasticities increase in absolute terms

economies of scale and factor substitution in electricity supply industry a case study of south australia abstract the results support the view that there are cost advantages in retaining etsa s monopoly position the existing economies of scale and the high degree of substitutability between energy and capital imply that a rise in energy prices may not affect the cost of production significantly provided other factor costs do not rise at the same rate and provided demand for electricity grows further it has been observed that improvement in load factor can significantly reduce cost

modelling energy demand of developing countries are the specific features adequately captured abstract this paper critically reviews existing energy demand forecasting methodologies highlighting the methodological diversities and developments over the past four decades in order to investigate whether the existing energy demand models are appropriate for capturing the specific features of developing countries the study finds that two types of approaches econometric and end use accounting are commonly used in the existing energy demand models although energy demand models have greatly evolved since the early seventies key issues such as the poor rich and urban rural divides traditional energy resources and differentiation between commercial and non commercial energy commodities are often poorly reflected in these models while the end use energy accounting models with detailed sectoral representations produce more realistic projections as compared to the econometric models they still suffer from huge data deficiencies especially in developing countries development and maintenance of more detailed energy databases further development of models to better reflect developing country context and institutionalizing the modelling capacity in developing countries are the key requirements for energy demand modelling to deliver richer and more reliable input to policy formulation in developing countries

modelling electricity demand in ghana revisited the role of policy regime changes as policy regime changes demand elasticities are unlikely to be constant since individuals change how they form their expectations and this will change the estimated decision rules in this paper the time varying nature of electricity demand elasticities prior to and post the economic reform period in ghana is analysed using the fm ols three different sample periods pre reform post reform and full period was used in the analysis the result from the full sample period revealed that in the long run electricity demand is significantly affected by industry efficiency industry value added and real per capita gdp urbanization rate however has no significant effect the pre reform estimate showed lower income output and urbanization elasticities but higher industry energy efficiency elasticity relative to the post reform period this suggests that technological change in the pre reform period has been energy saving whilst technological change in the post reform period has been energy consuming the result further showed evidence of changing structure of the economy from the more energy intensive sector to the less energy intensive sector after the reform government should renew her effort in promoting energy saving technologies in the industrial sector and adjust the industrial structure to encourage the expansion of low energy intensive industries or high technology efficient industries

human capital graduate migration and innovation in british regions with the aid of a geographical information system our paper constructs a three stage least squares simultaneous equation model to investigate the interrelationships between the interregional flows of human capital and the innovation dynamism of a region in order to do this we model the interregional migration behaviour of high quality british university graduates from university into first employment and we relate these human capital flows to both the labour market characteristics and the knowledge characteristics of the employment regions this is done for all industries and separately for just high technology industries our results indicate that for england and wales there is a two way causality between the interregional human capital employment migration flows of recent university graduates and the innovation performance of regions however the results for great britain as a whole depend on whether london is included and scotland is excluded we find little or no support for the argument that the presence of local universities or small firms promotes regional innovation

entry growth and survival in the green industry abstractentry growth and survival in the green industry regional studies economists are interested in the factors that induce firm entry lead to growth and help firms succeed in various markets such information can be helpful to policy makers but unfortunately such patterns have not been considered for green industries this paper takes advantage of a recent definition of green industries proposed by the us bureau of labor statistics bls to investigate patterns characterizing these industries within the state of texas

european cities in the knowledge economy towards a typology the shift towards a knowledge based economy seems to favour some well endowed urban areas however not all cities benefit equally this paper discusses the shift towards a knowledge based economy

measuring the welfare effects of reducing a subsidy on a commodity using micro models an application to kuwait s residential demand for electricity abstract this paper provides a conceptual and empirical approach for evaluating the direct benefits and costs that are associated with reforming the price of a subsidized commodity using a micro model the welfare analysis is based on two alternative scenarios a hypothetical percentage increase in the price of the commodity and a hypothetical percentage decrease in the amount of subsidy the latter is considered to be a simultaneous problem in which the exact price of the commodity that reduces consumption and subsequently the subsidy to the specific target level needs to be determined first as a case study the paper utilizes the most recent household expenditure survey in the state of kuwait to estimate residential electricity demand for different household groups i e low middle and high income and employs a partial equilibrium model to measure the welfare implications that may result from a reduction in the electricity subsidy rates the empirical findings show that a small increase in the price of electricity would reduce annual consumption by 4741 million kwh and annual subsidy by us 734 million the results also show that the loss in consumers welfare is approximately us 145 million while the financial and environmental benefits to the society ranges between us 658 million and us 889 million the magnitude of these welfare gains suggests that electricity price reforms combined with a rebate scheme to compensate households for their welfare loss offsetting any political resistance to reform is a win win situation

the real time price elasticity of electricity the real time price elasticity of electricity contains important information on the demand response of consumers to the volatility of peak prices despite the importance empirical estimates of the real time elasticity are hardly available this paper provides a quantification of the real time relationship between total peak demand and spot market prices we find a low value for the real time price elasticity which may partly be explained from the fact that not all users observe the spot market price if we correct for this phenomenon we find the elasticity to be fairly low for consumers currently active in the spot market if this conclusion applies to all users this would imply a limited scope for government intervention in supply security issues

assassinations evaluating the effectiveness of an israeli counterterrorism policy using stock market data since the outbreak of the intifada in september 2000 the israeli government has extensively employed a policy of assassinating members of palestinian terrorist organizations theoretically the net effect of an assassination on future terrorism is indeterminate because it embodies two conflicting effects the assassination of a terrorist hurts his organization s capabilities but may increase the motivation for future attacks our indirect empirical evaluation of the effectiveness of assassinations for isreali counterterrorism is based on israeli stock market reactions to news of such operations we rely on the fact that terrorism has had significant adverse effects on the israeli economy and claim that the stock market should react positively to news about effective counterterrorism measures but negatively to news about counterproductive ones we find that the market does not react to assassinations of low ranked members of palestinian terrorist organizations the market does react strongly however to the assassinations of senior leaders of terrorist organizations it declines following assassinations targeting senior political leaders but rises following assassinations of senior military leaders to the extent that these reactions reflect expectations regarding future levels of terrorism they imply that the market perceives the first type of assassinations as counterproductive but the second as an effective measure in combating terrorism

the effect of immigration on innovation in italy abstractthis paper investigates the effect of immigration on innovation in italy a country characterized by prevalently unskilled immigration after addressing the potential endogeneity of the share of immigrants in the population using immigrant enclaves no evidence is found of either positive or negative effects of migrants on innovation this result is robust to allowing for different effects of low and medium high skilled migrants to using linear and non linear models and to considering both province level data on patent applications and firm level self reported measures also capturing innovation adoption

energy price reform in saudi arabia modeling the economic and environmental impacts and understanding the demand response abstract saudi arabia has regulated domestic energy prices for decades setting them below international market levels energy subsidies in saudi arabia are generally implicit because they lead to foregone revenues for the government low energy prices also encourage rapid energy demand growth and wasteful consumption while limiting incentives to invest in energy efficiency saudi arabia recently started to reform energy prices leading to large increases in gasoline and residential electricity prices in 2018 to measure the economic and environmental impacts of energy price reform we econometrically model gasoline and residential electricity demand using harvey s 1990 structural time series model our estimated equations reveal that gasoline demand and residential electricity demand in saudi arabia are strongly price and income inelastic despite the major reforms that were recently implemented our welfare analysis also shows that the energy price reforms in 2018 in gasoline and residential electricity respectively delivered welfare gains of 8 8 and 3 8 billion sar annually 2 3 and 1 0 billion us additionally our decomposition analysis reveals that these energy price reforms were the largest contributors to the observed decreases in gasoline and residential electricity consumption in 2018

electricity consumption in g7 countries a panel cointegration analysis of residential demand elasticities this article applies recently developed panel unit root and panel cointegration techniques to estimate the long run and short run income and price elasticities for residential demand for electricity in g7 countries the panel results indicate that in the long run residential demand for electricity is price elastic and income inelastic the study concludes that from an environmental perspective there is potential to use pricing policies in the g7 countries to curtail residential electricity demand and thus curb carbon emissions in the long run

the embodiment of knowledge universities as engines of growth as universities open themselves up to the marketplace for knowledge and ideas to a greater degree than in the past debates over university missions has been common how can universities match their third mission contribution to society with their main missions of education and curiosity driven basic research to achieve their full growth potential this will require a change in policy attention from targeting university patenting and faculty spin offs to taking a broader view on universities contribution to economic development including other pathways most notably collaborative modes and mobility of trained human capital from academe to industry

households response to changes in electricity pricing schemes bridging microeconomic and engineering principles abstract this paper presents a computational take on households response to price changes many studies use assumptions i e price elasticities that were estimated using historical information however if a price change has not been experienced in the past the response may not be statistically predicted while other papers have explored price response behavior internally through microeconomic principles many factors affect a household s electricity use including the construction of the dwelling outdoor air temperature and efficiency of the air conditioner we have superimposed a physical model which determines hourly power loads with a utility maximization component the dwelling itself is calibrated to one in saudi arabia but we test households that have various preferences in their utility function levels of thermal insulation and income we further analyze a wide range of electricity pricing schemes some are progressive tariffs while one is defined hourly the extent to which the prices are raised in the alternative schemes has never been experienced in saudi arabia our analysis shows that households with low electricity preferences exhibit a larger short run response than would be derived from the aggregate price elasticities estimated statistically moreover improved building insulation affects the household s decision making process

macroeconomic consequences of terror theory and the case of israel abstract this paper analyzes the effect of terror on the economy terror endangers life such that the value of the future relative to the present is reduced hence due to a rise in terror activity investment goes down and in the long run income and consumption go down as well governments can offset terror by putting tax revenues into the production of security facing a tide in terror a government that acts optimally increases the proportion of output spent on defense but does not fully offset the tide thus when terror peaks the long run equilibrium with an optimizing government is of lower output and welfare next we show that this theory of terror and the economy helps to understand changes in trend and business cycle of the israeli economy the estimates show that terror has a large impact on the aggregate economy continued terror at the level of the death toll by about the same size as due to car accidents is expected to decrease annual consumption per capita by about 5 in 2004 had israel not suffered from terror during the last 3 years we estimate that the output per capita would have been 10 higher than it is today

working through knowledge pools labour market dynamics the transference of knowledge and ideas and industrial clusters this article explores a prominent cluster in the swedish capital stockholm and its surrounding region the ict information and communications technology cluster in particular the article focuses on the issue of the extent to which labour market and labour mobility are the most likely channels for local and extra local sources of knowledge and ideas thus the article positions itself against a growing literature that focuses on rather diffuse and vague notions that knowledge and innovation reside in the air or in the buzz of urban life instead the underlying hypothesis is that in many sectors and industries such things as a cosmopolitan street life or accidental face to face encounters play relatively little part in the flow of experiences knowledge and innovation rather it is in the workplace that these exchanges and flows are located and it is thus through labour mobility that intracluster exchanges occur the article tests such ideas in relation to the ict cluster and the stockholm region using a uniquely detailed time series data set the data set used is based on official taxation and civil registration records and contains complete details on everything from education to career changes to income levels for every individual resident in sweden the detail of the individual records and the complete nature of the data set mean that it offers a unique possibility to examine on a large scale the micro dynamics of individuals in the labour market and in clusters the data are used to examine whether there have existed over time higher levels of labour market mobility in clusters as opposed to the rest of the urban economy the article empirically verifies the idea that labour market mobility is significantly higher in the cluster than in the rest of the urban economy

electricity consumption and economic growth in jamaica abstract this study examines the relationship between electricity consumption and economic growth in jamaica during 1970 86 a period of rapid increase in energy prices the results show that the aggregate demand for electricity is slightly income elastic electricity has a significant impact on economic growth the electricity intensity has increased over time residential demand is fairly income elastic commercial demand is price inelastic and the rate of adjustment is slow these results suggest that conservation policies could be ineffective therefore indigenous sources of electricity are important for jamaica to be less dependent on imported energy

the distribution of regional earnings in the uk utilizing a micro sample of 7317 individuals extracted from the general household survey 1973 we show that money earnings and real earnings vary considerably across british regions even when other factors such as education and industry mix are held constant we also find that real earnings do not follow the pattern of money earnings if anything quite the reverse whereas monetary rewards are the greatest in the south east of england real rewards are the greatest in the midlands and the north east of england scottish regions however appear to fare the worst in both money and real terms

selling university technology patterns from mit many research universities engage in efforts to license inventions developed by university affiliated inventors however no systematic explanation of the conditions under which university inventions will be licensed or commercialized has been provided drawing on transaction cost economics i provide a conceptual framework to explain which university inventions are most likely to be licensed commercialized and generate royalties and who will undertake that commercialization i test this framework on data on the 1 397 patents assigned to the massachusetts institute of technology during the 1980 1996 period the results showthat 1 university inventions are more likely to be licensed when patents are effective 2 when patents are effective university technology is generally licensed to noninventors 3 when patents are effective licensing back to inventors increases the likelihood of license termination and reduces the likelihood of invention commercialization and 4 the effectiveness of patents increases royalties earned for inventions licensed to noninventors the implications of these findings for innovation management and strategy entrepreneurship and university technology commercialization are discussed

energy and capital substitutes or complements a note on the importance of testing for non neutral technical progress this note investigates the importance of testing the validity of the hicks neutral technical progress assumption in the context of examining the substitutability or complementarity between capital labour and energy in the uk industrial sector it is found that the hypothesis of neutral technical progress must be rejected in favour of the non neutral hypothesis with technical progress thus biased to using both capital and energy but to saving labour in addition it is found that all three factors are substitutable for one another when non neutral technical progress is modelled

the effects of colleges and universities on local labor markets there is little systematic evidence documenting a relationship between colleges and universities and local economies using census data for 218 smsas this paper examines the relationship between various measures of university quality and local labor market conditions the authors find that area employment growth rates and the percentage of the work force employed as scientists and engineers are positively and significantly related to measures of university quality however the data can not reject the hypothesis that university quality has no significant effect on area income the employment rate net migration rates or even the share of employment in high tech industries copyright 1993 by mit press

energy conservation in electricity generation a case study of the electricity and water industry in kuwait this paper has examined possibilities of energy conservation in the generation of electricity and water in kuwait this has been done through analysing the underlying production structure by employing a translog flexible cost function and using series data the results show that in the absence of changes in factor prices fuel intensity of electricity and water is expected to increase with increase in output furthermore capital and fuel are found to be substitutes overall the evidence suggests that energy conservation can be achieved by using fuel prices as instruments this is likely to induce demand for new capital and hence promote productivity gains

housing urban growth and inequalities the limits to deregulation and upzoning in reducing economic and spatial inequality urban economics and branches of mainstream economics what we call the housing as opportunity school of thought have been arguing that shortages of affordable housing in dense agglomerations r

crossing the rubicon exploring the factors that shape academics perceptions of the barriers to working with industry although academics are under increasing pressure to engage industry in their research they often find it difficult to do so conflicts with industry over the timing of disclosure and the choice of topics are common moreover collaborations with industry may require academics to negotiate formal contracts about the ownership of intellectual property to help understand the factors that might mitigate these conflicts this paper examines how the professional and collaborative experiences of academics shape their perceptions of the barriers to industry collaboration using a rich dataset of uk academics we find that perceived barriers to collaboration are lower for academics with industrial and collaborative experience and for those who trust their industry partners however for the transactional costs of industry engagement we find entrepreneurial experience and the diversity of methods used to collaborate with industry increases the perceived barriers to collaboration

understanding the economic performance of metropolitan areas in the united states examining the drivers of metropolitan economic performance this paper models two dependent variables change from 1990 to 2000 in gross metropolitan product and msa employment it is found that initial year economic structure an above average share of manufacturing employment agglomeration economies human capital share of population with bachelor degrees or higher and presence of state right to work laws are positively and significantly related to gmp and employment growth while the economic age of the area percentage of black non hispanic residents and average wage at the beginning of the period are negatively and significantly related to both the regional dummy variables commonly used to explain economic growth and typically highly significant are augmented by including climate related amenity business environment and economic age when these three variables are included in the model as independent variables with the regional dummy variables all three are significant for growth in gmp and

energy output ratios and sectoral energy use the case of southeast asian countries abstract the relation between energy consumption and output is studied for six developing economies in southeast asia the changing structure of energy demands by consuming sectors and the effects of this on energy output ratios are analysed it is found that the commercial energy output ratio increased for most of the period between 1960 and 1982 the five factors responsible for the increasing ratio of commercial energy to output ratio were the rising share of industrial output in gdp the substitution of commercial for non commercial fuels the strong demand for transportation energy use the rise in electricity demand in the household commercial sector and the expansion of the energy conversion industries there were systematic variations in the composition of energy uses by sectors both over time and across countries the basic features observed at a sectoral level also support the validity of the five factors mentioned above

pathways to impact and the strategic role of universities new evidence on the breadth and depth of university knowledge exchange in the uk and the factors constraining its development there has been an increasing focus on the strategic role of universities in stimulating innovation and economic growth primarily though the transfer of technology this paper interrogates some of the key aspects of much of the conventional wisdom concerning the transfer of technology and the knowledge exchange process in general it analyses the results from two unique surveys a survey of the uk academic community that generated more than 22 000 responses and a stratified survey of businesses that generated more than 2 500 responses the results suggest that much of the conventional wisdom concerning knowledge exchange involving academia is too narrowly confined or is misinformed first there is an excessive focus in much of the academic and policy discourse on commercialisation and technology transfer there are many knowledge exchange mechanisms used by academics these include commercialisation processes but also many other hidden connections second the focus on the science base ignores that knowledge exchange involves academics from all disciplines third the preoccupation with improving innovation and business performance tends to ignore that knowledge exchange involves partners from the public and third not for profit sectors as well as private sector businesses fourth the main constraints that hinder or limit the knowledge exchange process include a lack of time insufficient internal capability to manage relationships and insufficient information to identify partners problems concerning cultural differences between academics and business and disputes concerning intellectual property are not prominent overall the paper suggests that the notion of an academic ivory tower seems to be a myth as far as the uk is concerned it also suggests that a strategic focus on strengthening connections between academia and the rest of society may generate long term benefits but it will also face challenges and should not distort or divert from the wider foundations of scholarship on which the success of universities are built

testing viability of cross subsidy using time variant price elasticities of industrial demand for electricity indian experience abstract indian electric tariffs are characterized by very high rates for industrial and commercial classes to permit subsidized electric consumption by residential and agricultural customers we investigate the viability of this policy using monthly data for 1997 2003 on electric consumption by a few large industrial customers under the aegis of a small distribution company in the state of uttar pradesh for a given price cost ratio it can be shown that if the cross subsidizing class electricity demand is sufficiently elastic increasing the class rates fail to recover incremental cross subsidy necessary to support additional revenues for subsidized classes this suboptimality is tested by individually estimating time variant price elasticities of demand for these industrial customers using box cox and linear regressions we find that at least for some of these customers cross subsidy was suboptimal prior to as late as october 2001 when rates were changed following reforms

market power and heterogeneous pass through in german electricity retail abstract we analyze the pass through of cost changes to retail tariffs in the german electricity market over the 2007 2014 period we find an average pass through rate of around 60 this significantly varies with demand factors while the pass through rate to baseline tariffs where firms have greater market power because customers are less willing to switch is only 50 it increases to 70 in the competitive segment of the market although the pass through rate of independent firms is significantly higher than that of other firms in the competitive market segment the extent of supply side heterogeneity is limited thus the firms ability to exercise market power and reduce pass through appears to be constrained by competition and largely determined by demand side factors finally we find that the pass through rate in the competitive market segment has been approaching unity over the past years indicating a rise in competitive pressure

innovation r d cooperation and labor recruitment evidence from finland this article investigates the role played by one type of firm interaction namely rd rd and labor acquisition appears to be only of limited importance for innovation

regional rates of return to education and training in britain bennett r glennerster h and nevison d 1995 regional rates of return to education and training in britain reg studies 29 279 295 using a structural utility maximizing human capital model of the post 16 education and training decision the paper explores rates of return and lifetime earnings that might influence an individual s decision to participate in post compulsory education and training the paper presents ex ante regional rates of return to post 16 further and higher education using information from the general household survey in britain based on the empirical results implications for education and training policy are drawn the model demonstrates that there are important differences between expected rates of return to the same qualification in different regions these returns are influenced by the regional labour market and are likely to have important influences on the incentives of individuals to pursue education or to train the paper also demonstrates the generally low level of diff

job changes and interregional migration of graduates abstractusing panel data from a german graduate survey we analyse determinants of graduates decisions to out migrate from a region and how the importance of these determinants varies over job changes estimating heckman and fixed effects heckman selection models we find that the propensity to out migrate significantly varies with graduates migration experience as well as individual study related and regional characteristics while previous migration remains a strong determinant of migration over job changes the importance of other covariates decreases the origin region perspective of our study provides insights into the public provision of higher education as its returns depend on graduates interregional migration

firm innovation the influence of r d cooperation and the geography of human capital inputs abstract this paper investigates the role played by the geography of labor inputs in the promotion of innovation knowledge can be transferred between firms by inter firm interactions and inter firm cooperation in addition knowledge can also be transferred between firms by human capital mobility in order to examine these issues we employ a unique innovation dataset from finland this dataset provides information about a firm s innovation performance along with information regarding the origins of a firm s recent labor acquisitions the origins of the labor are defined according to both the industry and the region analyzing these data allows us to identify the different roles which the geography of knowledge exchanges and the geography of labor markets play in the innovation process

carbon intensity of electricity in asean drivers performance and outlook abstract the association of southeast asian nations asean with its ten member countries has a total population exceeding 600 million its energy related co2 emissions have been growing and in 2013 amounted to 3 6 of total global emissions about 40 of asean s energy related co2 emissions are currently attributable to electricity production in view of this high share we study the co2 emissions of asean s electricity production sector with a focus on the aggregate emission intensity aci given by the level of co2 emissions for each unit of electricity produced drivers of aci are analysed for individual countries and spatial analysis is conducted by comparing factors contributing to differences between the acis of individual countries and that of the asean average arising from these analyses and in light of the current developments it is concluded that drastic actions need to be taken both at the national and regional levels in order to reduce growth in the region s electricity related co2 emissions two key policy issues namely overcoming national circumstances to improve electricity generation mix and improving power generation efficiency are further discussed

policy scepticism and the impact of scottish higher education institutions heis on their host region accounting for regional budget constraints under devolution hermannsson k lisenkova k mcgregor p g and swales j k policy scepticism and the impact of scottish higher education institutions heis on their host region accounting for regional budget constraints under devolution regional studies a policy scepticism has emerged that challenges the results of conventional regional higher education institution hei impact analyses this paper provides a systematic critique of such scepticism while rejecting its extreme form the limiting effect of the binding public sector expenditure constraints under devolution is noted and it is shown how conventional impact analyses can be augmented to accommodate these constraints while the results suggest that conventional impact studies overestimate the expenditure impacts of heis they also demonstrate that the policy scepticism that treats these expenditure effects as irrelevant neglects some key aspects of heis in particular their export intensity

life on the frontier migrant information earnings and past mobility this paper examines the extent to which information obtained from past geographic mobility affects both post move job search and earnings in subsequent migration in the united states the study considers this linkage between past and present mobility by estimating earnings frontiers for various categories of interstate migrants partitioned by prior mobility history the results demonstrate that migrant groups exhibiting high relative levels of human capital stock do not necessarily possess superior pre move labor market information it is also demonstrated that the incentive to acquire this pre move information is tied to psychic cost and variation in this cost among migrant types excerpt

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

a multi stream analysis of the changing pattern of interregional migration in great britain 1960 1991 gordon i and molho i 1998 a multi stream analysis of the changing pattern of interregional migration in great britain 1960 1991 reg studies 32 309 323 this paper uses a combination of spatial and econometric modelling techniques to investigate longer term patterns and processes of change in british interregional migration starting from a distinction between an employment oriented national movement stream and a housing and environment related regional stream the two major influences on the longer distance flows are found to be relative rates of employment growth and perceived environmental quality but while the former induces marked fluctuations within the observation period the influence of the latter factor shows little variation with no sign of a clean break there is however evidence of a sharply reduced responsiveness of migration to unemployment differentials since the mid 1970s gordon i et molho i 1998 une analyse a flux multiples de l evolution de la distribution de la mi

universities technology and innovation centres and regional development the case of the north east of england the paper examines the role of technology and innovation centres tics in bridging the gap between the university research base and industry in order to foster economic development in a lagging industrial region the context is provided by an academic literature on the role of universities in regional innovation systems some of which casts doubt on the capacity of universities to operate in this domain particularly within a lagging region the empirical case reports on a bold experiment initiated by the regional development agency in the older industrial region of the north east of england to create and support new tics in the fields of process innovation in high value manufacturing and new and renewable energy and on the engagement of a regionally committed university with these centres the evidence presented suggests that while there are links between the university and the centres both are principally operating in a national science and technology system in which contributing to addressing uneven regional economic development is a secondary concern copyright the author 2012 published by oxford university press on behalf of the cambridge political economy society all rights reserved oxford university press