Browsing by Author "Fortunato, Adelino"
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- The Effect of Intermittent Renewable Energy Generation on Electricity Prices: A Literature SurveyPublication . Oliveira, Blandina C. R.; Fortunato, AdelinoDespite increasing deployment of intermittent renewable energies at lower generation costs, wholesale electricity price has been falling while retail electricity prices go up. This has triggered the debate on the cost-effectiveness of this source of energy. Therefore, the aim of this paper is to present a literature survey on the effect of intermittent renewable energy generation on electricity prices. Researches have used different methodological approaches, different periods and countries to examine the impacts of intermittent renewable energy on electricity prices. Most of the studies found evidence of the merit-order effect, which means that an increase in intermittent source generation would reduce the spot electricity market price. Finally, the few studies that address the retail market found that retail electricity could either increase or decrease.
- Firm growth and R&D: Evidence from the Portuguese manufacturing industryPublication . Oliveira, Blandina; Fortunato, AdelinoThis work studies the effects of R&D activities and investment, both phys ical and R&D, on the growth of firms by considering a dynamic firm growth model with serial correlation. The main hypotheses maintain that firms with a strong com mitment to R&D have a higher growth rate, and investment has a positive effect on firm growth. We investigate such relations with reference to an unbalanced panel data set of Portuguese manufacturing firms over the period of 1990 to 2001. We find that a systematic tendency for smaller firms to grow more quickly is the main reason why firm growth is not entirely stochastic.