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The purpose of this paper is to investigate the effect of tourism on economic growth and carbon dioxide emissions in Eastern and Western European Union (EU) countries by incorporating FDI and trade in the production and CO 2 emission functions. We apply panel econometric techniques which account for cross-sectional dependence and heterogeneity. The results of Westerlund panel cointegration test confirm a long-run equilibrium relationship among the variables. Results from long-run elasticities suggest that tourism stimulates economic growth in Eastern and Western EU countries. However, tourism increases CO 2 emissions in Eastern EU but decreases in Western EU. This indicates that tourism has an adverse effect on the environment in Eastern EU. Finally, short-run heterogeneous panel causality test results suggest that tourism causes CO 2 emissions in Eastern EU while economic growth and CO 2 emissions cause tourism in Western EU. Overall, our findings suggest that tourism plays an important role in accelerating economic growth; however, its role on CO 2 emissions largely depends on the adaptation of sustainable tourism policies and efficient management. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to explain the sources of energy system lock-in. It presents a comparative analysis of the respective contributions of some features of increasing returns to adoption factors, i.e. learning-by-doing, learning-by-searching and returns to scale effects in explaining the technological change dynamics in the energy system. The paper is technically based on a critical analysis of the learning curve approach. Econometric estimation of learning and scale effects inherent to seven energy technologies were performed by the use of several learning curve specifications. These specifications permit to deal with some crucial issues related to the learning curve estimation which are associated with the problem of omitted variable bias, the endogeneity effects and the choice of learning indicators. Results show that dynamic economies from learning effects coupled with static economies from scale effects are responsible for the lock-in phenomena of the energy system. They also show that the magnitude of such effects is correlated with the technology life cycle (maturity). In particular, results point out that, 1) the emerging technologies exhibit low learning rates associated with diseconomies of scale which are argued to be symptomatic of the outset of the deployment of new technologies characterized by diffusion barriers and high level of uncertainty, 2) the evolving technologies present rather high learning rates meaning that they respond quickly to capacity expansion and R&D activities development, 3) conventional mature technologies display low learning rates but increasing returns to scale implying that they are characterized by a limited additional diffusion prospects. [Copyright &y& Elsevier]

This paper investigates the economic efficiency–oil consumption relationship in 42 countries during the period 1986–2006. In a first stage by using DEA window analysis countries' economic efficiencies are obtained. In a second stage an econometric analysis based on robust GMM estimators reveals an inverted ‘U’-shape relationship between oil consumption and economic efficiency. In order to capture heterogeneities among countries' development stages the analysis has been separated into two groups (advanced economies and developing/emerging economies). The results show that advanced economies have much higher turning points compared to emerging and developing economies. It appears that oil consumption increases countries' economic efficiency. In addition the consumption patterns of oil products and its derivatives have changed through years and among countries. The different turning points from the econometric analysis indicate the dependence of oil consumption in advanced economies (higher turning points) is driven mainly by household purchasing activities and their standards of living (transport, housing and water, food, etc.). Finally, it appears that oil consumption is the main driver behind the progress of industrialization and urbanization regardless of the country's development stage. [Copyright &y& Elsevier]

This paper develops a framework for analyzing flexible spending account (FSA) participation and usage. We explore patterns of FSA usage using data from a benefits firm for 1996 including an examination of types of FSA expenditures and their timing. We estimate some simple econometric models of the participation decision and also the decision of how much to put into an FSA. Several pieces of evidence suggest that much of an FSA election amount is based on foreknowledge of expenditures. We also find that participants tend to spend their election amount early, thus obtaining an interest-free loan. [ABSTRACT FROM AUTHOR]

This paper empirically investigates the long-run effects of major health improvements on income growth in the United States. To isolate exogenous changes in health, the econometric model uses quasi-experimental variation in cardiovascular disease mortality across states over time. Based on data for the white population, the results show that there is a causal link between health and income per person, and they provide novel evidence that health dynamics shape life-cycle incomes. Life-cycle income profiles slope more strongly at the beginning and at the end of work life in 2000 than in 1960, indicating that age becomes a more prominent determinant of income dynamics over this period. The channels for this transformation include better health, higher educational attainment, and changing labor supply. [ABSTRACT FROM AUTHOR]