nep-ene New Economics Papers
on Energy Economics
Issue of 2008‒09‒29
twenty-one papers chosen by
Roger Fouquet
Imperial College, UK

  1. Greenhouse Gas Mitigation in a Carbon Constrained World : The Role of Carbon Capture and Storage By Barbara Praetorius; Katja Schumacher
  2. Black hole or black gold ? the impact of oil and gas prices on Indonesia's public finances By Agustina, Cut Dian R.D.; del Granado, Javier Arze; Bulman, Tim; Fengler, Wolfgang; Ikhsan, Mohamad
  3. The Economic Impact of Climate Change By Tol, Richard S. J.
  4. Theory of Storage - An Empirical Assessment of the European Natural Gas Market By Marcus Stronzik; Margarethe Rammerstorfer; Anne Neumann
  5. A Lead Market Approach Towards the Emergence and Diffusion of Coal-fired Power Plant Technology By Rennings, Klaus; Smidt, Wilko
  6. Intra-Union Flexibility of Non-ETS Emission Reduction Obligations in the European Union By Tol, Richard S. J.
  7. Optimal household energy management and economic analysis: from sizing to operation scheduling By T.T. Ha Pham; Cédric Clastres; F. Wurtz; S. Bacha; E. Zamaï
  8. Analysis of the World Market for Steam Coal Using a Complementarity Model By Clemens Haftendorn; Franziska Holz
  9. The obstacles in the way of stabilizing the russian oil model By Sylvain Rossiaud; Catherine Locatelli
  10. Efficacy of the Clean Development Mechanism By Geethanjali Selvaretnam; Kannika Thampanishvong
  11. EU Emission Allowances and the Stock Market: Evidence from the Electricity Industry By Oberndorfer, Ulrich
  12. Nonlinearities and the order of integration of oil prices By Juan Carlos Cuestas; Paulo Jose Regis
  13. Optimal growth with adaptation to climate change By Patrice Dumas; Minh Ha-Duong
  14. Optimal household energy management and participation in ancillary services with PV production By Cédric Clastres; T.T. Ha Pham; F. Wurtz; S. Bacha
  15. China?s Development Strategy and Energy Security: Growth, Distribution and Regional Cooperation By Khan, Haider A.
  16. Linking Natural Gas Markets - Is LNG Doing Its Job? By Anne Neumann
  17. Oil price shocks: Demand vs Supply in a two-country model By Alessia Campolmi
  18. Convergence Analysis of Per Capita Carbon Dioxide Emissions: 1950-2004 By Aslan, Alper
  19. Sectoral Heterogeneity, Resource Depletion, and Directed Technical Change: Theory and Policy By Karen Pittel; Lucas Bretschger
  20. Is combination of nodal pricing and average participation tariff the best solution to coordinate the location of power plants with lumpy transmission investments? By Vincent Rious; Yannick Perez; Philippe Dessante
  21. Getting out of the car: an institutional/evolutionary approach to sustainable transport policies By Gerardo Marletto

  1. By: Barbara Praetorius; Katja Schumacher
    Abstract: In a carbon constrained world, at least four classes of greenhouse gas mitigation options are available: Energy efficiency, fuel switching, introduction of carbon dioxide capture and storage along with renewable generating technologies, and reductions in emissions of non-CO2 greenhouse gases. The role of energy technologies is considered crucial in climate change mitigation. In particular, carbon capture and storage (CCS) promises to allow for low-emissions fossil-fuel based power generation. The technology is under development; a number of technological, economic, environmental and safety issues remain to be solved. With regard to its sustainability impact, CCS raises a number of questions: On the one hand, CCS may prolong the prevailing coal-to-electricity regime and countervail efforts in other mitigation categories. On the other hand, given the indisputable need to continue using fossil fuels for some time, it may serve as a bridging technology towards a sustainable energy future. In this paper, we discuss the relevant issues for the case of Germany. We provide a survey of the current state of the art of CCS and activities, and perform an energy-environment-economic analysis using a general equilibrium model for Germany. The model analyzes the impact of introducing carbon constraints with respect to the deployment of CCS, to the resulting greenhouse gas emissions, to the energy and technology mix and with respect to interaction of different mitigation efforts. The results show the relative importance of the components in mitigating greenhouse gas emissions in Germany. For example, under the assumption of a CO2 policy, both energy efficiency and CCS will contribute to climate gas mitigation. A given climate target can be achieved at lower marginal costs when the option of CCS is included. We conclude that, given an appropriate legal and policy framework, CCS, energy efficiency and some other mitigation efforts are complementary measures and should form part of a broad mix of measures required for a successful CO2 mitigation strategy.
    Date: 2008
  2. By: Agustina, Cut Dian R.D.; del Granado, Javier Arze; Bulman, Tim; Fengler, Wolfgang; Ikhsan, Mohamad
    Abstract: Indonesia's oil revenues and fuel subsidies dominate the nation's economic policy agenda. This paper estimates the impact of higher international oil prices on the Indonesian government's fiscal position in 2008 and beyond. It analyzes the interactions between government revenues and expenditures, as well as international oil prices, energy subsidies, and inter-governmental transfers. Looking at the impact of oil prices over US$100 per barrel, the paper presents five main findings. First, despite record high oil prices, the government's oil and gas revenues have been decreasing relative to non-oil and gas revenues since 2001. Second, fuel subsides will reach record levels in 2008 while electricity subsidies have been increasing even faster. Third, the paper finds that most of the fuel subsidy that directly benefits households goes to the richest 20 percent. Fourth, even at levels above US$100 per barrel, the government receives more revenues from oil and gas than it spends on energy subsidies. However, due to significant revenue-sharing with sub-national governments, high oil prices are net-negative for the central government, while they create fiscal windfalls for many regions. Finally, the oil sector's positive impact on Indonesia's public finances declines as oil prices rise, because subsidies and other expenditures outgrow oil and gas revenues.
    Keywords: Energy Production and Transportation,Oil Refining&Gas Industry,Markets and Market Access,Debt Markets,Energy and Environment
    Date: 2008–09–01
  3. By: Tol, Richard S. J. (Economic and Social Research Institute (ESRI))
    Abstract: I review the literature on the economic impacts of climate change, an externality that is unprecedentedly large, complex, and uncertain. Only 14 estimates of the total damage cost of climate change have been published, a research effort that is in sharp contrast to the urgency of the public debate and the proposed expenditure on greenhouse gas emission reduction. These estimates show that climate change initially improves economic welfare. However, these benefits are sunk. Impacts would be predominantly negative later in the century. Global average impacts would be comparable to the welfare loss of a few percent of income, but substantially higher in poor countries. There are over 200 estimates of the marginal damage cost of carbon dioxide emissions. The uncertainty about the social cost of carbon is large and right-skewed. For a standard discount rate, the expected value $50/tC, which is much lower than the price of carbon in the European Union but much higher than the price of carbon elsewhere. Current estimates of the damage costs of climate change are incomplete, with positive and negative biases. Most important among the missing impacts are the indirect effects of climate change on economic development, large scale biodiversity loss, low probability – high impact scenarios, the impact of climate change on violent conflict, and the impacts of climate change beyond 2100. From a welfare perspective, the impact of climate change is problematic because population is endogenous, and because policy analyses should separate impatience, risk aversion, and inequity aversion between and within countries.
    Keywords: Impacts of climate change; social cost of carbon
    JEL: Q54
    Date: 2008–09
  4. By: Marcus Stronzik; Margarethe Rammerstorfer; Anne Neumann
    Keywords: Storage, energy commodity, natural gas, convenience yield
    JEL: Q40 L95 G13
    Date: 2008
  5. By: Rennings, Klaus; Smidt, Wilko
    Abstract: Today, more than 70% of the world’s total electricity production is supplied by power plants using conventional fossil fuels. Coal accounts for more than half of the fossil fuel combustion in electricity plants. Future mega trends give reason to believe that electricity demand will double until 2030. The abundance of coal reserves in many countries and increasing fuel prices for gas and oil against the background of a growing need to provide sufficient, secure and affordable energy make coal an attractive option in worldwide electricity production. Against this background, the aim of this paper is to analyse why clean coal technologies in some countries diffuse faster and to a greater extent than in other nations. The paper applies the lead market concept. Lead markets are markets that adopt an innovation before it is adopted by most other countries and therefore lead the global diffusion of the innovation. The most important technological trajectory for coal power plants is the pulverised coal-fired steam cycle (PC) which is the basis for all other coal combustion technologies. Modern PC technology is well developed and accounts for over 90% of coal-fired capacity worldwide. Therefore it will be taken as a reference technology, with SC (Supercritical) coal-fired power generation technologies being selected as an innovative technology within this trajectory. As for the diffusion of SC, the paper concentrates on Germany, USA, China and Japan. The analysis shows that the typical lead market pattern applies only to a limited extent. In the 1960s and 1970s, the USA has established a lead market for SC technology. In the meanwhile, Japan has surpassed the United States, although it started out as typical lag market. After analysing the technology diffusion in the four countries, one central question evolves: Can we determine a lead market for coal-fired power plant technology today? The discussion of lead market factors shows that currently no clear lead market exists for coal-fired power plant technology. Although the United States still has comparative advantages in terms of prices, demand and market structure, Japan has caught up in terms of transfer advantage and Germany in terms of regulation. In the near future, demand advantages will switch to China. This supports also the hypothesis that - apart from the demand-oriented lead market model - push factors such as R&D activity play a strong role as well. The transfer advantage of Japan stems mainly from its intensive R&D activities. Thus it can be concluded that a mix of push and pull policies is necessary in order to establish a lead market position.
    Keywords: Lead Markets, Coal Power plants, Energy Technology, Energy Policy
    JEL: L50 O33 Q50
    Date: 2008
  6. By: Tol, Richard S. J. (Economic and Social Research Institute (ESRI))
    Abstract: The current EU proposal on greenhouse gas emission reduction has 28 targets for 2020: an EU-wide one for carbon dioxide emissions covered by the European Trading System, and one target for non-ETS emission per Member State. Implementation is necessarily more expensive than needed. I consider three alternative proposals to reduce costs. In the Irish proposal, Member States can purchase ETS permits to offset excess non-ETS emissions. In the Polish proposal, Member States can sell excess non-ETS emissions in the ETS. In the Swedish proposal, Member States can trade their non-ETS allocations. I compare these three alternatives to the default policy (no flexibility outside the ETS) and to the cost-effective solution (full flexibility). I calibrate a simple model to the results of the impact assessment of the European Commission. This reveals that European Commission did not fully disclose all details, and that odd assumptions were made. In the case of three Member States, the non-ETS allocation exceeds the projected emissions. The results show that the alternative flexibility mechanisms would be used to only a limited extent, but would help to suppress the costs of meeting the target. The Swedish and Polish proposals come closest to the cost-effective solution as full use is made of the hot air in the non-ETS system. The Irish proposal performs best if there are negative surprises in either the cost of non-ETS emission reduction or non-ETS emission projections.
    Keywords: Climate change; Emissions trade; European Union
    JEL: Q54
    Date: 2008–09
  7. By: T.T. Ha Pham (G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I); Cédric Clastres (G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I, LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II); F. Wurtz (G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I); S. Bacha (G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I); E. Zamaï (G-SCOP - Laboratoire des sciences pour la conception, l'optimisation et la production - CNRS : UMR - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I)
    Abstract: The study presented in this paper takes part in a project aiming to increase the value of solar production for residential application with a medium-term vision where preferential solar energy subsidies will decrease before to disappear. This study is dedicated to propose and develop optimal energy architecture at supply side, a multi-source system based on photovoltaic (PV) solar energy connecting to main electrical network, taking further into account the effectiveness of intelligent demand side management. To investigate this issue, a method of optimal supplying system sizing and household energy management has been developed. This method, which has been formulated employing Mix Integer Linear Programming (MILP), enables the calculation of the appropriate configuration for power supply system and the optimal operation control to be applied. Using a Net Present Value (NPV) and Probability Index (P.I) basis, the economic analysis allows estimation of the viability of the proposed system under different factors of influence such as renewable energy policies, technology evolutions leading to cheaper installed PV module cost and deregulated electricity market. Simulation results show that, the solution makes it possible for PV power to be significantly valued by the customers without subsidized measures.
    Keywords: connected-grid PV system ; battery storage ; sizing optimization ; energy management ; MILP
    Date: 2008–07
  8. By: Clemens Haftendorn; Franziska Holz
    Abstract: With its resource availability and the prospect of climate friendly technology, coal continues to play an important role in the global energy sector. We develop a complementarity model of the international market for steam coal. We want to analyze the level of competition in this market which is strategic for the importers' security of energy supply. In a spatial equilibrium framework, we assume the steam coal exporters to maximize their profits by choosing the optimal quantity to sell to each importing country. We compare two possible scenarios: perfect competition and Cournot competition. The results, especially the price levels, indicate that the Cournot model is not realistic, suggesting that the producing countries do not exert market power. However, the trade flows and prices observed in reality suggests that there is some form of market power with price discrimination, possibly following a Bertrand model in a spatial setting.
    Keywords: Coal, energy, market structure, simulation model
    JEL: L11 L72 C69
    Date: 2008
  9. By: Sylvain Rossiaud (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II); Catherine Locatelli (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II)
    Abstract: This article deals with the current change of the institutional and organizational framework of the Russian oil industry. Regarding this evolution, the main characteristic is the increasing involvement of national oil companies in the upstream activities. The point is to explain this reorganization by relying on the New Institutional Economics framework. These theoretical works highlight that institutional environment and governance structures complement each other. We argue that the current reorganization is an attempt to increase the coherence of the institutional arrangement governing the transaction between the Russian state and the private oil companies.
    Keywords: Russia ; oil industry ; institutional coherence
    Date: 2008–05
  10. By: Geethanjali Selvaretnam; Kannika Thampanishvong
    Abstract: The Clean Development Mechanism (CDM) gives the industrialized countries (the Annex I countries) some flexibility in achieving their emission reduction targets under the Kyoto Protocol by allowing them to pay for projects that reduce greenhousegas emissions in the developing countries (the non-Annex I countries). This paper is devoted to evaluate the efficacy of the CDM. We show that, on one hand, the emissions in the non-Annex I country decline because of abatement undertaken by the Annex I country under the CDM; on the other hand, the total emissions may increase because (i) the Annex I country will increase emissions in its own country, and (ii) the non-Annex I country, under some conditions, could crowd out the benefits from the CDM projects by increasing its domestic emissions. In order for the CDM to be more effective, we recommend that only partial credits should be given to the Annex I country that undertakes abatement under the CDM. We also suggest that the authority overseeing the CDM should not allow the CDM projects to be hosted by the non-Annex I country that is more conscious about the environment.
    Keywords: Clean Development Mechanism (CDM), Kyoto Protocol, emission, abatement.
    JEL: D24 Q51 Q54
    Date: 2008–08
  11. By: Oberndorfer, Ulrich
    Abstract: This paper constitutes – to our best knowledge – the first econometric analysis on stock market effects of the EU Emission Trading Scheme (EU ETS). Our results suggest that EU Emission Allowance (EUA) price developments matter to the stock performance of electricity firms: EUA price changes and stock returns of the most important European electricity corporations are shown to be positively related. This effect does not work asymmetrically, so that stock markets do not seem to react differently to EUA appreciations in comparison to depreciations. The carbon market effect is shown to be both time- and countryspecific: It is particularly strong for the period of EUA market shock in early 2006, and differs with respect to the countries where the electricity corporations analysed are headquartered. Stock market reactions to EUA volatility could not be shown. Dieses Papier untersucht die Aktienmarkteffekte von Preisentwicklungen auf dem Markt für Emissionszertifikate im Rahmen des Europäischen Emissionshandelssystems (EU ETS). Die Analyse fokussiert dabei auf die Aktienmarktperformance des europäischen Elektrizitätssektors, der gemessen an CO2-Emissionen größten Branche im EU ETS. Nach unseren Ergebnissen spielt der Zertifikatmarkt eine wichtige Rolle für die Aktienentwicklungen der analysierten Elektrizitätsfirmen. Ein Anstieg des Zertifikatpreises sorgt für Kursgewinne bei den Aktien der Elektrizitätsfirmen aus fast allen europäischen Ländern. Hingegen scheint die Volatilität der Emissionsrechte entgegen anderslautender Erwartungen nicht auf die Aktienkursentwicklung der untersuchten Unternehmen zu wirken.
    Keywords: EU ETS, electricity stocks, asset pricing
    JEL: C13 G12 Q43 Q48
    Date: 2008
  12. By: Juan Carlos Cuestas; Paulo Jose Regis
    Abstract: Unit root tests are the starting point of most empirical time series research. This paper analyses the order of integration of oil prices taking into account the possibilities of nonlinearities in the deterministic components. Using an aggregate index for the price of oil, and applying Bierens (1997) unit root tests, we find that the hypothesis of a unit root process is rejected in favour of nonlinear trend stationarity of the price of crude oil. On the contrary, preliminary analysis using Ng and Perron (2001) and Kapetanios, Shin and Snell's (2003) tests, fail to reject the hypothesis of a unit root.
    Keywords: Unit roots, Nonlinearities, Oil price
    JEL: C22 E39 Q43
    Date: 2008–09
  13. By: Patrice Dumas (LMD - Laboratoire de Météorologie Dynamique - CNRS : UMR8539 - INSU - Université Pierre et Marie Curie - Paris VI - Polytechnique - X - Ecole Normale Supérieure de Paris, CIRED - Centre international de recherche sur l'environnement et le développement - CIRAD : UMR56 - CNRS : UMR8568 - Ecole des Hautes Etudes en Sciences Sociales - Ecole Nationale des Ponts et Chaussées - Ecole Nationale du Génie Rural des Eaux et des Forêts); Minh Ha-Duong (CIRED - Centre international de recherche sur l'environnement et le développement - CIRAD : UMR56 - CNRS : UMR8568 - Ecole des Hautes Etudes en Sciences Sociales - Ecole Nationale des Ponts et Chaussées - Ecole Nationale du Génie Rural des Eaux et des Forêts)
    Abstract: Many economic sectors, like housing or transportation, are exposed to climate and likely to suffer efficiency losses when climate changes. The global economy is far from dematerialized yet, these sectors represent a significant fraction of the existing capital stock. Using an optimal growth model with perfect knowledge, we examine the balance between these efficiency losses and investment in adaptation measures, which can become sunk costs when climate changes even more. Simulations remind that adaptation should be proactive rather than reactive: protection measures installed today are not designed for today's climate only, but anticipate future warmer conditions over their lifetime. While there is an over-investment compared with a no climate change baseline, the overall cost to adapt is relatively low in front of the potential losses from misadaptation. This allows to stay almost always well adapted to climate.
    Keywords: Climate change; adaptation; optimal growth; integrated assessment model
    Date: 2008–02–01
  14. By: Cédric Clastres (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - CNRS : UMR5252 - Université Pierre Mendès-France - Grenoble II, G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I); T.T. Ha Pham (G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I); F. Wurtz (G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I); S. Bacha (G2ELAB - Grenoble Electrical Engineering - Institut National Polytechnique de Grenoble - INPG - Université Joseph Fourier - Grenoble I)
    Abstract: The work presented in this paper deals with a project aiming to increase the value of photovoltaic (PV) solar production for residential application. To contribute to the development of the new functionalities for such system and the efficient control system to optimize its operation, this paper defines the possibility for the proposed system to participate to the ancillary services, particularly in active power service provider. This service of PV-based system for housing application, as it does not exist today, has led to a market design proposition in the distribution system. The mathematical model for calculating the optimal operation of system (sources, load, and the exchange power with the grid) results in a linear mix integer optimization problem where the objective is to maximize the profit obtained by participating to electricity market. The approach is illustrated in an example study case. The PV producer could benefit from its intervention on balancing market or ancillary services market despite of the impact on the profit of several kinds of uncertainty, as the intermittence of PV source.
    Keywords: energy management ; ancillary services ; PV production ; household application
    Date: 2008–07
  15. By: Khan, Haider A.
    Abstract: This paper analyses both global and regional approaches to solving problems of energy security and ecological imbalance by addressing specifically the problems of China?s energy security. China?s growing energy dependence has become a major concern for both economic and national security policymakers in that country. The ambitious goal of modernization of the economy along the lines of the other newly industrialized economies (NIEs) of Asia has succeeded only too well, and it is difficult to reorient economic priorities. If examined rigorously, such an economic strategic assumption can be seen to entail the goal of creating further technological capabilities. In particular, China seems to be firmly committed to the creation of a largely self-sustaining innovation system as part of a knowledge-based economy of the future. Such innovation systems, called positive feedback loop innovation systems or POLIS have been created by advanced countries, and NIEs such as South Korea and Taiwan are proceeding to create these as well. But this will add to its energy burden and further dependence on the US as the power which controls the key sea lanes. Only a strategic reorientation to building a self-sustaining POLIS and appropriate regional cooperation institutions can lead to the way out of the current dilemma for China. Fortunately, such a model of POLIS which is distributionally and ecologically sensitive can be built for China and applied strategically to lead towards a sustainable development trajectory. ...
    Keywords: China, development strategy, energy, environment, POLIS, innovation system, regional cooperation
    Date: 2008
  16. By: Anne Neumann
    Abstract: The increase in liquefied natural gas trade has accelerated the integration of previously segmented markets in North America, Europe, and Asia. This paper provides evidence on the integration of the transatlantic natural gas market. We test the theoretical proposition that in integrating markets commodity prices should move closer than before. Using 2,059 pairs of daily spot prices for natural gas in North America and Europe we investigate price dynamics covering the period from 1999 until 2008. We apply the Kalman Filter technique to gain detailed information on trends inherent over time. Results suggest an increasing convergence of spot prices on either side of the Atlantic Basin.
    Keywords: Market integration, spot markets, LNG, natural gas
    JEL: L95 Q49 F15
    Date: 2008
  17. By: Alessia Campolmi (Central European University, Magyar Nemzeti Bank)
    Abstract: From the last quarter of 2001 to the third quarter of 2005 the real price of oil increased by 103%. Such an increase is comparable to the one experienced during the oil shock of 1973. At the same time, the behaviour of real GDP growth, Consumer Price inflation (CPI inflation), GDP Deflator inflation, real wages and wage inflation in the U.S. in the 1970s was very different from the one exhibited in the 2000s. What can explain such a difference? Within a two-country framework where oil is used in production, two kinds of shocks are analyzed: (a) a reduction in oil supply, (b) a persistent increase in foreign productivity (as proxy for the experience of China in the last years). It is shown that, while the 1970s are consistent with a supply shock, the shock to foreign productivity generates dynamics close to the one observed in the 2000s.
    Keywords: oil price, open economy, demand and supply shocks.
    JEL: E12 F41
    Date: 2008
  18. By: Aslan, Alper
    Abstract: Son zamanlarda, küresel ısınma ve küresel ısınmanın iklim değişikliği üzerindeki potansiyel etkisi üzerine kamunun ilgisi açık bir şekilde artmaktadır. Buna bir tepki olarak, hükümetler küresel ısınmayı hafifletme için uluslararası iklim değişikliği stratejileri planlamaya girişmektedirler. Ampirik çalışmalar sera sıcaklığının ana nedeni olarak karbon dioksit (CO2) emisyonu olduğunu göstermektedir. CO2 emisyonunun kalıcılığının ve stokastik dinamiklerinin incelenmesi ve analiz edilmesi, politika yapıcıları için karbon dioksit emisyonunun çevreye olan etkilerinin hesaplanmasında çok önem arz etmektedir. Bu çalışmada, Afrika, Merkezi ve Güney Amerika, Merkezi Asya, Merkezi Avrupa, Uzak Doğu, Orta Doğu, Kuzey Amerika, Okyanusya ve Batı Avrupa ülkeleri arasında kişi başına karbon dioksit emisyon kalıcılığı ve yakınsaması 1950-2004 dönemi için Lima ve Resende (2007) kalıcılık yöntemi uygulanarak incelenmiştir. IPS (Im, Peseran ve Shin) test sonuçları karbon dioksit emisyonu için birim kökün yokluk hipotezi reddedilememiştir. Bu nedenle sonuçlar ele alınan ülke grupları itibariyle CO2 emisyonu güçlü bir şekilde kalıcılık sergilediğini göstermektedir.
    Keywords: CO2 emisyonu; Yakınsama; Kalıcılık; Birim Kök.
    JEL: Q50 C23 Q53
    Date: 2008
  19. By: Karen Pittel (CER-ETH - Center of Economic Research at ETH Zurich, Switzerland); Lucas Bretschger (CER-ETH - Center of Economic Research at ETH Zurich, Switzerland)
    Abstract: We analyze an economy in which sectors are heterogeneous with respect to the intensity of natural resource use. Long-term dynamics are driven by resource prices, sectoral composition, and directed technical change. We study the balanced growth path and determine stability conditions. Technical change is found to be biased towards the resource-intensive sector. Resource taxes have no impact on dynamics except when the tax rate varies over time. Constant research subsidies raise the growth rate while increasing subsidies have the opposite effect. We also find that supporting sectors by providing them with productivity enhancing public goods can raise the growth rate of the economy and additionally provide an effective tool for structural policy.
    Keywords: sustainable development, sectoral heterogeneity, directed technical change
    JEL: O4 O41 Q01 Q3
    Date: 2008–09
  20. By: Vincent Rious (SUPELEC-Campus Gif - SUPELEC); Yannick Perez (ADIS - Analyse des Dynamiques Industrielles et Sociales - Université Paris Sud - Paris XI); Philippe Dessante (SUPELEC-Campus Gif - SUPELEC)
    Abstract: This paper evaluates the opportunity and efficiency to introduce a two-part tariff to coordinate the location of power plants with lumpy transmission investments. Nodal pricing sends the short run component of such a two-part tariff and we study the case where the average participation tariff sends the long run one. We argue that this solution is helpful because the average participation tariff tackles lumpiness of transmission capacity while being as cost-reflective as possible. Our proposition is evaluated based on a double optimization model where a TSO minimizes the transmission cost while a generator minimizes its own cost that may take into account network constraints and include the average participation tariff. Numerical simulations are performed on a two-node network evolving during twenty years with increasing demand. The joint implementation of nodal pricing and the average participation tariff stays the best combination to coordinate as efficiently as possible the generation and transmission investments, although the optimal set of generation and transmission investments may not be reached because of transmission lumpiness. The simulations show also that implementing locational network tariffs is prioritary over implementing nodal pricing to coordinate more efficiently the location of generation with lumpy transmission investment. In the considered examples, the average participation tariff allows a more efficient location of generation even when the congestion management scheme being redispatch sends no short run locational signal.
    Keywords: Generation investment; Lumpy transmission investment; Long run coordination; Locational signals; Efficiency evaluation
    Date: 2008
  21. By: Gerardo Marletto
    Abstract: Orthodox economics sees transport as a market which can be made more sustainable by improving its self-regulating capacity. To date this static approach has not been able to limit the growing demand for transport and its increasing environmental impact. Better results might be obtained by using evolutionary and institutional economics. Starting from these theories, a sustainable transport policy should be based on three fundamental considerations. First, transport is not a market, but a sum of systems affected by path-dependence and lock-in phenomena. Second, transport is not sustainable because it is locked in environmentally sub-optimal systems. Third, structural changes in technologies and organisations, institutions, and values are needed to establish more sustainable transport systems. We give an example of the use of an institutional/evolutionary approach to sustainable transport policies in the transition from the system of mass motorisation to the new urban mobility system.
    Keywords: Sustainable transportation; Transport policy; Environmental economics; Institutional economics; Evolutionary economics
    JEL: B52 Q58 R40
    Date: 2008

This nep-ene issue is ©2008 by Roger Fouquet. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.