Corporate Responsibility and Corporate Philanthropy

The Millennium Development Goals Report 2011 gives good grounds for optimism: "lives have been saved or changed for the better;" "poverty continues to decline in many countries and regions;" and "targeted interventions have succeeded in reducing child mortality". Yet in spite of continuing national and international efforts to alleviate poverty, the sad reality is that over a billion human beings continue to live on USD 1.25 or less a day. The scale and complexity of tackling this greatest social challenge of our time requires that national governments, the international community, business and civil society each commit their share of resources, skills and know-how to achieving sustainable solutions

The Trade-off Between Static and Dynamic Efficiency in Electricity Markets - A Cross Country Study

This paper is the first to explicitly test for the presence of a trade-off between static and dynamic efficiency in a regulated industry, the electricity industry. We show for 16 European countries over the period 1998-2007 that higher electricity end-user prices in a country subsequently lead to higher investments in the capital stock, i.e. in generation, distribution and transmission assets. Moreover, there is a trade-off between vertical economies and competition. Ownership unbundling and forced access to the incumbent transmission grid increase competition but come at the cost of lost vertical economies. Generally, we find that regulation that affect only the market like the establishment of a wholesale market or free choice of suppliers increase investment activity via spurring competition. Regulation, however, that adversely affects the incumbent directly, like ownership unbundling, decreases aggregate investment spending. (author's abstract)Series: Working Papers / Research Institute for Regulatory Economic

Six billion and counting

In 1999 global population surpassed 6 billion people, and this number rises by about 70-80 million people each year. "Six Billion and Counting" examines the consequences of continuing population growth for the world's resource systems and for national and global food security. Leisinger, Schmitt, and Pandya-Lorch offer here a sober analysis of a complex and alarming situation. They assess the progress the world has made in controlling population growth and point to the areas where future difficulties will lie. They describe the effects of rapid population growth on social and economic conditions and on natural resources, and they consider what population growth will mean for the food security of poor people and poor countries. In addition, the authors make clear how the roles of women and children in traditional societies affect birth rates. "Six Billion and Counting" shows that neither the population pessimists, who predict a catastrophic exhaustion of natural resources, nor the population optimists, who foresee technological solutions for all of the problems raised by population growth, offer the most useful approach to this problem. Instead, Leisinger and his coauthors argue that new technologies mitigating the harmful effects of rapid population growth can give the world valuable time to take the complex and multifaceted steps needed to reduce population growth rates to sustainable levels.Population forecasting. ,Population Economic aspects. ,Food security. ,Population Environmental aspects ,Technological innovations. ,Population policy. ,

The Liouville-Bratu-Gelfand Problem for Radial Operators

We determine precise existence and multiplicity results for radial solutions of the Liouville–Bratu–Gelfand problem associated with a class of quasilinear radial operators, which includes perturbations of k-Hessian and p-Laplace operators

Vertical disintegration in the European electricity sector: Empirical evidence on lost synergies

The EU has been promoting unbundling of the transmission grid from other stages of the electricity supply chain with the aim of fostering competition in the upstream stage of electricity generation. At present, ownership unbundling is the predominant form of unbundling in Europe. From a policy perspective, a successful unbundling regime would require that the benefits of increased competition in power generation would at least offset the associated efficiency losses from vertical divestiture. Since evidence on this topic is scarce, this study helps fill this void by empirically estimating the magnitude of economies of vertical integration (EVI) between electricity generation and transmission based on a quadratic cost function. For this purpose we employ unique firm-level panel data of European electricity utilities. Our results confirm the presence of substantial EVI of 14% for the median sized integrated utility. Moreover, EVI tend to increase with firm size

Vertical Disintegration in the European Electricity Sector: Empirical Evidence on Lost Synergies

The EU has been promoting unbundling of the transmission grid from other stages of the electricity supply chain with the aim of fostering competition in the upstream stage of electricity generation. At presence, ownership unbundling is the predominant form of unbundling in Europe. However, the benefits of increased competition from ownership unbundling of the transmission grid may come at the cost of lost vertical synergies between the formerly integrated stages of electricity supply. The policy debate generally neglects such potential costs of unbundling, yet concentrates on its benefits. Therefore European crosscountry evidence may shed some light on this issue. This study helps fill this void by empirically estimating the magnitude of economies of vertical integration (EVI) between electricity generation and transmission based on a quadratic cost function. For this purpose we employ novel firm-level panel data of major European electricity utilities. Our results confirm the presence of substantial EVI, which put the policy measure of transmission ownership unbundling into question. (authors' abstract)Series: Working Papers / Research Institute for Regulatory Economic