National Institute of Economic Research

Bucharest, Romania

National Institute of Economic Research

Bucharest, Romania

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Preda V.,National Institute of Economic Research | Dedu S.,University of Bucharest
Physica A: Statistical Mechanics and its Applications | Year: 2014

In this paper we construct the minimal entropy martingale for semi-Markov regime switching interest rate models using some general entropy measures. We prove that, for the one-period model, the minimal entropy martingale for semi-Markov processes in the case of the Tsallis and Kaniadakis entropies are the same as in the case of Shannon entropy. © 2014 Elsevier B.V. All rights reserved.


Svensson M.,Örebro University | Svensson M.,Karlstad University | Vredin Johansson M.,National Institute of Economic Research | Vredin Johansson M.,Uppsala University
Accident Analysis and Prevention | Year: 2010

Estimates of the willingness to pay (WTP) for a mortality risk reduction can be used to calculate the value of a statistical life, which is a major component in many economic evaluations of environmental and safety policies. Previous research on the WTP for risk reductions using stated preference methods have found that the mean WTP for public risk reductions is significantly smaller compared to the mean WTP for private risk reductions of equal magnitude. Hence, the use of a private or public scenario in stated preference studies of e.g. environmental or safety policies may strongly determine the outcome of the economic evaluation. In this paper we use a stated preference survey to show that WTP for a private risk reduction is three times higher compared to a public risk reduction and a significant part of the difference can be explained by respondents' attitudes towards privately and publicly provided goods in general. © 2009 Elsevier Ltd. All rights reserved.


Broberg T.,National Institute of Economic Research
Environmental and Resource Economics | Year: 2010

This paper provides case study evidence on two relevant issues in estimating the relationship between WTP and income using contingent valuation: (1) the choice of income measure; and (2) the modelling choice. Addressing these issues, a sensitivity analysis is performed on a dataset concerning implementation of the Swedish predator policy. The results show that the estimated income-elasticity of WTP varies between 0. 12 and 0. 40 for the models estimated. The main conclusion drawn from the analysis is that controlling for the number of adults in the household is important for finding a significant income effect, when the household income measure is used. Besides this finding the empirical analysis finds little support for the hypothesis that the choice of income measure and modelling assumptions significantly influence the overall model fit. © Springer Science+Business Media B.V. 2009.


Preda V.,University of Bucharest | Preda V.,National Institute of Economic Research | Dedu S.,University of Bucharest | Dedu S.,Institute of National economics | Gheorghe C.,National Institute of Economic Research
Physica A: Statistical Mechanics and its Applications | Year: 2015

In this paper, by using the entropy maximization principle with Tsallis entropy, new distribution families for modeling the income distribution are derived. Also, new classes of Lorenz curves are obtained by applying the entropy maximization principle with Tsallis entropy, under mean and Gini index equality and inequality constraints. © 2015 Elsevier B.V. All rights reserved.


Forslund J.,National Institute of Economic Research | Samakovlis E.,National Institute of Economic Research | Johansson M.V.,National Institute of Economic Research | Barregard L.,Gothenburg University
Science of the Total Environment | Year: 2010

Sweden has only just begun remediation of its many contaminated sites, a process that will cost an estimated SEK 60,000. million (USD 9100. million). Although the risk assessment method, carried out by the Swedish EPA, is driven by health effects, it does not consider actual exposure. Instead, the sites are assessed based on divergence from guideline values. This paper uses an environmental medicine approach that takes exposure into account to analyse how cancer risks on and near arsenic-contaminated sites are implicitly valued in the remediation process. The results show that the level of ambition is high. At 23 contaminated sites, the cost per life saved varies from SEK 287. million to SEK 1,835,000. million, despite conservative calculations that in fact probably underestimate the costs. It is concluded that if environmental health risks are to be reduced, there are probably other areas where economic resources can be used more cost-effectively. © 2010 Elsevier B.V.


Mansikkasalo A.,National Institute of Economic Research | Lundmark R.,Lulea University of Technology | Soderholm P.,Lulea University of Technology
Forest Policy and Economics | Year: 2014

The objectives of this paper are to: (a) provide a critical survey of existing econometric analyses of supply and demand elasticities in recycled paper markets and (b) discuss a number of implications of the results from this work. Specifically, the survey adds to our understanding of the functioning of recycled paper markets, points towards some important policy lessons, and identifies gaps in the economic literature on recycled paper market behavior. The analysis builds on the scope, methodology and data used by 21 previous studies, which all estimate the own-price elasticities of recycled paper demand and/or supply. One key finding is that the own-price elasticity of recycled paper supply is positive but low (around 0.20-0.30). This helps explain the often high price volatility in recycled paper markets, and carries important implications for the impacts of, and the choice between, price- and quantity-based waste management policies. Finally, the analysis also suggests that future research should devote increased attention to different non-environmental market imperfections (e.g., market power, information asymmetries) that could discourage the uptake of recycled materials in the market place. A stronger research focus on recycled paper use in developing countries, not the least China, is also needed. © 2013 Elsevier B.V.


Sjostrom M.,National Institute of Economic Research | Ostblom G.,National Institute of Economic Research
Ecological Economics | Year: 2010

Over the past decades, we have seen the quantities of solid waste increase in close relation to economic growth. To tackle this problem of continuing waste growth, the EU has on its agenda that waste generation should decouple from economic growth within the EU in the future. Sweden also has stated a target of non-increasing future waste quantities. The strength of the policy measures needed to attain this target is here illustrated by comparing the waste intensity outcomes in a 'Decoupling scenario' and a 'Baseline scenario' of the Swedish economy 2006-2030. A Computable General Equilibrium (CGE) model is used for linking waste generation to firms' material input, firms' production and households' consumption when projecting future quantities of hazardous and non-hazardous waste in Sweden. We show that to offset the effect of economic growth on waste generation in the 'Decoupling scenario', the intensities of material-related wastes must decrease at a yearly rate that is about twice the historically estimated reduction rate used in the 'Baseline scenario'. The reduction in the intensities of waste related to firms' production and households' consumption must also be substantial compared to historical estimates. © 2010 Elsevier B.V. All rights reserved.


Baard P.,KTH Royal Institute of Technology | Vredin Johansson M.,National Institute of Economic Research | Carlsen H.,Swedish Defence Research Agency | Edvardsson Bjornberg K.,KTH Royal Institute of Technology
Local Environment | Year: 2012

Adaptation to climate change often involves long-time frames and uncertainties over the consequences of chosen adaptation measures. In this study, two tools designed for assisting local decision-makers in adaptation planning were tested: socio-economic scenarios and sustainability analysis. The objective was to study whether these tools could be of practical relevance to Swedish municipalities and facilitate local-level climate change adaptation. We found that the municipal planners who participated in the testing generally considered the tools useful and of high relevance, but that more time was needed to use the tools than was provided during the test process. © 2012 Copyright Taylor and Francis Group, LLC.


Broberg T.,Umeå University | Berg C.,National Institute of Economic Research | Samakovlis E.,National Institute of Economic Research
Energy Policy | Year: 2015

The objective of this paper is to analyse the rebound effect from increased efficiency in industrial energy use in Sweden. Energy efficiency improvements can have significant micro- and macroeconomic effects that hamper the positive effect on real energy savings. To assess the size of the overall rebound effect in the Swedish economy, we apply a computable general equilibrium model. The results show that the economy-wide rebound effect depends on a number of factors, e.g. the extent of the energy efficiency improvement, how the labour market is modelled as well as whether the increase in energy efficiency is combined with a cost or not. We find that the rebound effect following a five per cent increase in energy efficiency in the Swedish industry lies in the 40-70 per cent range. When energy efficiency is only improved in energy-intensive production, the rebound effect becomes even higher. These findings are in line with the results in the literature. © 2015 Elsevier Ltd.


Berg H.,University of Stockholm | Berg C.,National Institute of Economic Research | Nguyen T.T.,Nong Lam University
Journal of Sustainable Agriculture | Year: 2012

A comparison of agricultural practices, with a specific focus on pesticide use, between rice and rice-fish farmers in the Cân Tho' and Tiên Giang provinces of the Mekong Delta in 2007, shows that integrated rice-fish farming can provide a competitive alternative to intensive rice mono-cropping, if the farmer restricts the use of pesticides and takes full advantage of the ecosystem services provided by the rice-field ecosystem. In Cân Tho', rice-fish farmers had significantly higher income (43.6 million dong ha -1 year -1) than other farmer groups, while this was not seen among rice-fish famers in Tiên Giang (32.4 million dong ha -1 year -1), which partly could be due to a high use of insecticides (0.9 kg active ingredient ha -1 crop -1) and comparatively low fish yield among these farmers. The study emphasizes the need to rethink current agricultural systems and to provide opportunities for more diverse systems that maintain and enhance a range of ecosystem services and protect human health. Future production systems should not be optimized to only provide a single ecosystem service, such as rice, but designed to deliver a variety of interlinked ecosystem service such as rice, fish, pest control, and nutrient recycling. © 2012 Copyright Taylor and Francis Group, LLC.

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