|
on Energy Economics |
| By: | Grafström, Jonas (The Ratio Institute) |
| Abstract: | There is a risk that if a government adopts a R&D spending policy directed towards wind power technology crowding out of other technologies might occur due to fiscal constraints and changes in relative prices. The purpose of this paper is to provide a backward-looking analysis of how the accumulation of wind energy patents and public R&D spending affected the domestic and neighboring country output of granted patents in the “related energy machinery field”. The econometric analysis, a Poisson fixed-effects estimator based on the Hausman, Hall and Griliches (1984) method, relies on a data set consisting of eight countries in Western Europe with the highest rates of patent production in the field of wind power between 1978 and 2008. The results show that an accumulation of a national wind power stock is a statistically significant negative determinant of a country’s related energy machinery patenting outcomes. However, no crowding out effects of public R&D spending were found. |
| Keywords: | knowledge spillovers; wind power; R&D; patents; renewable energy; innovation |
| JEL: | E61 O32 Q20 Q58 |
| Date: | 2018–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ratioi:0310&r=ene |
| By: | Csaba Weiner (Institute of World Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences) |
| Abstract: | Poland entered the twenty-first century with an unsustainable energy/electricity mix, strongly over-dependent on coal. This situation seems to be changing very slowly, while there are multiple factors that make it imperative for the issue to be urgently addressed. On the one hand, this paper aims to assess the security of the stationary fuel supply by applying the conventional three-dimensional approach, encompassing availability, affordability and sustainability. On the other, we plan to use our own scheme to analyse gas diversification (Weiner, 2017: 6), i.e. a fuel which, alongside coal, is a very sensitive issue linked to the security of the Polish electric power fuel supply. We demonstrate that the three-dimensional approach is also appropriate for addressing the issue of supply security in the case of a country with a securitized energy agenda based on fears of problems with the availability and affordability of Russian gas supplies. It also highlights Poland’s concern over foreign technological reliance regarding renewables production. We show how the energy perspective, the institutional context, as well as perceptions regarding threat, dependence and Russia influence choices made from among different security of supply dimensions. We find that though the role of coal will surely decrease, there is great uncertainty about Poland’s energy policy and security of supply because of deficiencies in infrastructure and the unknown future role of the particular fuels in the energy/electricity mix, also expected to include nuclear. We can observe that every energy policy step possible is being taken to maintain the role of coal, and Poland moves toward sustainability only as much and as soon as it is required by its EU membership. Not only does the coal industry capture Poland’s energy policy, but also geopolitical considerations cement reliance on coal, providing low energy import dependence. Regarding gas, we find that since the January 2009 Russian–Ukrainian gas crisis, Poland has taken action to diversify its gas supplies, and it has finally achieved results, but there is still a lot of uncertainty surrounding Russian gas imports. |
| Keywords: | Poland, Russia, Central and Eastern Europe, energy security, security of supply, gas diversification, coal, gas, nuclear energy, renewables |
| JEL: | L71 L95 O13 P28 Q4 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:iwe:workpr:243&r=ene |
| By: | Sebastian Wehrle; Johannes Schmidt |
| Abstract: | Low CO2 prices have prompted discussion about political measures aimed at increasing the cost of carbon dioxide emissions. These costs affect, inter alia, integrated district heating system operators (DHSO), often owned by municipalities with some political influence, that use a variety of (CO2 emis- sion intense) heat generation technologies. We examine whether DHSOs have an incentive to support measures that increase CO2 emission prices in the short term. Therefore, we (i) develop a simplified analytical framework to analyse optimal decisions of a district heating operator, and (ii) investigate the market-wide effects of increasing emission prices, in particular the pass- through from emission costs to electricity prices. Using a numerical model of the common Austrian and German power system, we estimate a pass-through from CO2 emission prices to power prices between 0.69 and 0.53 as of 2017, depending on the absolute emission price level. We find the CO2 emission cost pass-through to be sufficiently high so that low-emission district heating systems operating at least moderately efficient generation units benefit from rising CO2 emission prices in the short term. |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1810.02109&r=ene |
| By: | Hermann Lebherz; Annelie Stumpp |
| Abstract: | A case study shows, that a BREEAM.de certified building is consuming only 28.5 kWh (sqm x a) primary energy, than a state of the art green high tech Passivhaus in Frankfurt Germany with 37 kWh (sqm a).A former German railway headquarter building in the North of Germany, Muenster, has been revitalized with a completely new building services structure to subdivide a former single tenant building in a multi-tenant building with multiple 400 sqm units. All mechanical and electrical services have been replaced and newly laid out, while the building of approx. 32.000 sqm was in full use.Newly implemented district heating ducts with electronically adjustable heating pumps, metered new radiators with individually adjustable thermostat valves led to energy savings.Together with new window frames with special gas filled glass panes led to an energy consumption which is below the primary energy consumption the politically promoted green Passivhaus system.Yet a state of the green art Passivhaus residential building in Frankfurt with 300 mm insulating walls and 800 mm insulating materials on the roof, with triple glazing windows and compulsory ventilation units with highly efficient energy recuperation of 82 % showed a primary energy consumption of 37 kWh (sqm a).The comparative case study will highlight some important facts that green energy does not start with the building technology, but with the technology of areal heating with the local power plant. The paper can get read on Friday or Saturday, since authors in private practice. |
| Keywords: | Breeam; Comparative Study; green areal heating power plant; Green Building; Passivhaus |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_70&r=ene |
| By: | Eraslan, Sercan; Ali, Faek Menla |
| Abstract: | We use volatility impulse response analysis estimated from the bivariate GARCH-BEKK model to quantify the size and the persistence of different types of oil price shocks on stock return volatility and the covariance between oil price changes and stock returns for a wide range of net oil-importing and oil-exporting countries. We find that precautionary demand followed by aggregate demand-side shocks, compared to supply-side ones, have higher positive and persistent effects on the conditional variances of stock returns for all countries. Moreover, we show that precautionary demand shocks, unlike the other types of shocks, mostly affect the covariances between oil price changes and stock returns; their effects being negative for all countries except China, Norway and Russia, where they are positive. |
| Keywords: | Oil price shocks,Stock returns,Volatility impulse response analysis |
| JEL: | C32 Q43 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bubdps:382018&r=ene |
| By: | Martinez Llorens; Ana Maria |
| Abstract: | This study analyses the behaviour of energy consumption in some regions of Spain, as Catalonia, the Valencian Community and La Rioja. Since Spain has different climate areas, we divide the study in three parts, one for each climate area. We make this differentiation because the climate and the local characteristics, are important in the energy consumption (Estiri, 2014). We seek to clarify the effect of energy consumption on housing, from the point of view of efficiency and energy saving.First, we make an empirical analysis which consists in an observation of energy consumption behaviour according the housing characteristics, like surface, volume, altitude, tier…, and the equipment. The literature indicates that the physical characteristics of the home, such as size (Ewing & Rong, 2008; Shimoda et al., 2012), age (Chong, 2012) and type of housing (Brounen et al, 2012, Estiri, 2014) have a positive and significant impact on energy consumption. However, factors such as climate, location or energy markets do not provide a clear answer and there are discrepancies between the authors (Chong, 2012; Estiri, 2014; Hojjati & Wade, 2012). In addition to this fact, the literature shows that in both climates, improvements in insulation reduce energy consumption (Adan & Fuerst, 2015).In a second step, we analyse the relation between energy consumption and market prices. Some studies have found that exists a premium in selling prices and rents when houses are more energy efficient (Cajias et al., 2016; Eichholtz et al., 2012; De Ayala et al., 2016).To obtain this information of Spain, we use the Energy Certificates data, the housing data and the transaction price data. These databases are formed with revealed information extracted from public sources. Since we use three different databases, we need to build the database to implement a model of hedonic prices. We analyse the energy consumption and its relation to the dwelling characteristics with a semi-log model. Finally, we answer the question, if in Spain exists a ‘green premium’ in the most efficient houses, using a hedonic model to obtain the relevance of each characteristic and their sign in the final price of a transaction. |
| Keywords: | dwelling characteristics; Energy Consumption; Energy Efficiency; Green premium; Hedonic Prices |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_320&r=ene |
| By: | Frank A. Wolak |
| Abstract: | Charging full requirements customers for distribution network services using the traditional cents per kilowatt-hour (KWh) price creates economic incentives for consumers to invest in distributed generation technologies, such as rooftop solar photovoltaics, despite the fact that marginal cost of grid-supplied electricity is lower. This paper first assesses the economic efficiency properties of this approach to transmission and distribution network pricing and whether current approach to distribution network pricing implies that full-requirement customers cross-subsidize distributed solar customers. Using data on quarterly residential distribution network prices and distributed solar installations from California’s three largest investor-owned utilities I find that larger amounts of distributed solar capacity and more geographically concentrated solar capacity predict higher distribution network prices and average distribution network costs. This result continues to hold even after controlling for average distribution network costs for the utility, Using these econometric model estimates, I find that 2/3 of the increase in residential distribution network prices for each of the three utilities between 2003 and 2016 can attributed to the growth distributed solar capacity. The paper then investigates the extent of the legal obligation that distributed solar generation customers have to pay for sunk costs of investments in the transmission and distribution networks. The paper closes with a description of an alternative approach to distribution network pricing that is likely to increase the economic signals for efficient electricity consumption and the incentive for cost effective installation of distributed solar generation capacity. |
| JEL: | L94 Q02 Q42 Q5 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25087&r=ene |
| By: | Stefano BOSI; David DESMARCHELIER |
| Abstract: | In ecology, one of the simplest representation of population dynamics is the logistic equation. This basic view can be enriched by considering two important variables : (1) the maximal population density Nature cansupport (carrying capacity) and (2) the critical density threshold under which the population disappear (Allee effect). The economic literature on biodiversity and renewable resources ignores both these variables. Evidence suggests also that these variables are affected by the pollution leveldue to economic activity. Indeed, a degraded environment is unsuitablefor wildlife and reduces the carrying capacity, while the climate change entails the habitat fragmentation and, lowering the wildlife reproduction possibilities, raises the Allee effect. The present paper aims to incorporate both endogenous carrying capacity and Allee effect in a Ramsey model augmented with biodiversity as a renewable resource. Our extendedframework enables us to study the effect of a Pigouvian tax on anthropogenic mass extinction. We find that, when the household overvalues biodiversity with respect to consumption, a higher green-tax rate is beneficial in three respects entailing: (1) a lower pollution and a higher biodiversity, (2) a welfare improvement and (3) a less likely mass extinction. |
| Keywords: | Allea effect, carrying capacity, pollution, Ramsey model, logistic dynamics, Hopf bifurcation. |
| JEL: | E32 O44 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2018-37&r=ene |
| By: | Harker Steele, Amanda J.; Bergstrom, John C. |
| Keywords: | Household and Labor Economics, Environmental and Nonmarket Valuation, Production Economics |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274186&r=ene |
| By: | Nicolas Fuchshofen; Johannes Klement; Wiltrud Terlau |
| Abstract: | The Life Cycle Assessment (LCA) approach is the most important tool in the evaluation of environmental (sustainability) impacts of products and processes. We used the method to conduct an impact analysis with regard to raw material inputs (pulp) for the German paper production industry. In our analysis, we compare the environmental effects of primary sulphate pulp, scrap paper pulp and grass-based pulp and estimate their impacts in the impact categories “greenhouse gas emissions”, “eutrophication” as well as “energy and water consumption”. Furthermore, we discuss the opportunities of the methodical approach and some general problems and limits of the application of a LCA. In conclusion, we found environmental advantages for the use of grass as an alternative resource in the German paper production industry, especially in the fields of transport and water consumption. |
| Keywords: | Agribusiness, Agricultural and Food Policy, Agricultural Finance |
| Date: | 2018–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iefi18:276860&r=ene |
| By: | Jorn van de Wetering |
| Abstract: | In 2008, the European Energy Performance of Buildings Directive (EPBD) facilitated the introduction of two mandatory energy assessment methods in the UK. Energy Performance Certificates (EPCs) reveal the modelled energy performance of buildings when they are constructed, sold or let based on their intrinsic energy attributes, whereas Display Energy Certificates (DECs) reveal operational energy performance in a subset of buildings that is operated by the public sector, based on annual energy consumption data.EPCs were conceived as a marketing mechanism for property market participants and they have been used in studies that have sought to investigate the links between energy performance and financial performance of buildings. Past studies have investigated the relationship between modelled and operational energy performance measurement in buildings and have found mismatches between both. This study will investigate the link between the modelled and actual energy performance in office buildings that are occupied by the public sector. The study uses detailed EPC and DEC data from the Department for Communities and Local Government. A comprehensive benchmarking analysis of these ratings establishes the extent to which both align and differ across the same units. The EPC and DEC data is also matched to data on building attributes from CoStar UK to investigate the relationship between energy performance and building features such as age and building quality, which have been commonly used as control variables in past hedonic pricing studies. This study will also look at the magnitude of observed changes in operational energy performance over time, to investigate whether energy performance assessment leads to energy performance improvement.These findings will provide further insights into the effects and impacts of the introduction of energy certification for buildings. The further aim of this study is to develop a building typology based on commonly shared building and energy performance attributes. |
| Keywords: | Display Energy Certificate; Energy assessment; Energy building typology; Energy Performance Certificate; Offices |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_331&r=ene |
| By: | Simplice Asongu (Yaoundé/Cameroun); Jacinta C. Nwachukwu (Preston,United Kingdom); Chris Pyke (Preston,United Kingdom) |
| Abstract: | This study examines how information and communication technology (ICT) could be employed to dampen the potentially damaging effects of environmental degradation in order to promote inclusive human development in a panel of 44 Sub-Saharan African countries. ICT is captured with internet and mobile phone penetration rates whereas environmental degradation is measured in terms of CO2 emissions per capita and CO2 intensity. The empirical evidence is based on Fixed Effects and Tobit regressions using data from 2000-2012. In order to increase the policy relevance of this study, the dataset is decomposed into fundamental characteristics of inclusive development and environmental degradation based on income levels (Low income versus (vs.) Middle income); legal origins (English Common law vs. French Civil law); religious domination (Christianity vs. Islam); openness to sea (Landlocked vs. Coastal); resource-wealth (Oil-rich vs. Oil-poor) and political stability (Stable vs. Unstable). Baseline findings broadly show that improvement in both of measures of ICT would significantly diminish the possibly harmful effect of CO2 emissions on inclusive human development. When the analysis is extended with the abovementioned fundamental characteristics, we observe that the moderating influence of both our ICT variables on CO2 emissions is higher in the group of English Common law, Middle income and Oil-wealthy countries than in the French Civil law, Low income countries and Oil-poor countries respectively. Theoretical and practical policy implications are discussed. |
| Keywords: | CO2 emissions; ICT; Economic development; Africa |
| JEL: | C52 O38 O40 O55 P37 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:18/037&r=ene |
| By: | Nikolas D. Müller; Andreas Pfnür |
| Abstract: | According to the Energy Performance of Building Directive, by 2021 all new housings have to be 'nearly zero energy buildings'. Currently, the definition and the resulting requirements for buildings are a subject of controversial political discussions in Germany. This paper aims to analyze the financial effects for owners and tenants resulting from the proposed ‘nearly zero energy standard’ by 2021.The objective is achieved by investment calculations using the method of complete financial plans. The analyses of the economic effects rely on building energy efficiency calculations of well-known engineering consultancies for two representative Multi-family-houses that form the political debate. Our analysis shows that the specific valuation approach has a significant impact on the result. The discussed 'nearly zero energy’ standard seems to be efficient according to the federal Energy Saving Ordinance (EnEV), but comes to high costs for owners or tenants. That is, because increasing standards of energy efficiency require higher investments, which are not compensated by the achieved reductions in energy consumption. Due to that, the discussed 'nearly zero energy’ standard leads to higher living expenses for tenants, or to lower returns on investment for owners. In addition to that, the stronger requirements result in GHG avoidance costs that are much higher compared to the ones in other sectors.The study is limited in its results to the analyzed building types. Nevertheless, it is of political relevance by showing that further deviations must rely on various efficiency considerations if real estate actors shall not be overburden and the environmental law effective. |
| Keywords: | energy efficiency standards; Energy Saving Ordinance; Profitability calculations; Real Estate Perspectives; Residential Buildings |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_241&r=ene |
| By: | Ye, Fanglin; Paulson, Nick; Khanna, Madhu |
| Keywords: | Industrial Org./Supply Chain Management, Risk and Uncertainty, Resource and Environmental Policy Analysis |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274199&r=ene |
| By: | Chakravorty, Ujjayant (Tufts University); Hubert, Marie-Helene (University of Rennes); Ural Marchand, Beyza (University of Alberta) |
| Abstract: | More than 40% of US grain is used for energy due to the Renewable Fuels Mandate (RFS). There are no studies of the global distributional consequences of this purely domestic policy. Using micro-level survey data, we trace the effect of the RFS on world food prices and their impact on household level consumption and wage incomes in India. We first develop a partial equilibrium model to estimate the effect of the RFS on the price of selected food commodities - rice, wheat, corn, sugar and meat and dairy, which together provide almost 70% of Indian food calories. Our model predicts that world prices for these commodities rise by 8-16% due to the RFS. We estimate the price pass-through to domestic Indian prices and the effect of the price shock on household welfare through consumption and wage incomes. Poor rural households suffer significant welfare losses due to higher prices of consumption goods, which are regressive. However they benefit from a rise in wage incomes, mainly because most of them are employed in agriculture. Urban households also bear the higher cost of food, but do not see a concomitant rise in wages because only a small fraction of them work in food- related industries. Welfare losses are greater among urban households. However, more poor people in India live in villages, so rural poverty impacts are larger in magnitude. We estimate that the mandate leads to about 26 million new poor: 21 million in rural and five million in the urban population. |
| Keywords: | biofuels, distributional effects, household welfare, renewable fuel standards, poverty |
| JEL: | D31 O12 Q24 Q42 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11784&r=ene |
| By: | Ribeiro Scarcioffolo, Alexandre; Etienne, Xiaoli L. |
| Keywords: | Demand and Price Analysis, Risk and Uncertainty, Resource and Environmental Policy Analysis |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:273976&r=ene |
| By: | Nogueira Meirelles De Souza, Mateus; Myers, Erica |
| Keywords: | Behavioral & Institutional Economics, Experimental Economics, Natural Resource Economics |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274130&r=ene |
| By: | Scheitrum, Dan; Parker, Nathan C. |
| Keywords: | Resource and Environmental Policy Analysis, Food and Agricultural Policy Analysis, Demand and Price Analysis |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274453&r=ene |
| By: | Licht, Adrian; Escribano Sáez, Álvaro; Blazsek, Szabolcs Istvan |
| Abstract: | We introduce the Seasonal-QVAR (quasi-vector autoregressive) model that we apply to study the relationship between oil production and economic activity. Seasonal-QVAR is a score-driven nonlinear model for the multivariate t distribution. It is an alternative to the basic structural model that disentangles local level and stochastic seasonality. Seasonal-QVAR is robust to extreme observations and it is an extension of Seasonal-VARMA (VAR moving average). We use monthly data from world crude oil production growth, global real economic activity growth and the industrial production growths of the United States and Canada. We address an important economic question about the influence of world crude oil production on the industrial productions of the United States and Canada. We find that the effects of industrial production growth of the United States on world crude oil production growth are about six times higher for the basic structural model and Seasonal-VARMA than for Seasonal-QVAR. We also find that the effects of world crude oil production growth on the industrial production growth of Canada are positive for Seasonal-QVAR, but those effects are negative for Seasonal-VARMA. Likelihood-based performance metrics and transitivity arguments support the estimates of Seasonal- QVAR, as opposed to the basic structural model and Seasonal-VARMA. |
| Keywords: | Vector autoregressive moving average (VARMA) model; Basic structural model; Nonlinear multivariate dynamic location models; Score-driven stochastic seasonality; Dynamic conditional score (DCS) |
| Date: | 2018–09–12 |
| URL: | http://d.repec.org/n?u=RePEc:cte:werepe:27484&r=ene |
| By: | Oak, Hena; Bansal, Sangeeta |
| Keywords: | Resource and Environmental Policy Analysis, Natural Resource Economics, Research Methods/Econometrics/Stats |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274422&r=ene |
| By: | Ferriani, Fabrizio; Natoli, Filippo; Veronese, Giovanni; Zeni, Federica |
| Abstract: | The advent of shale oil in the United States triggered a structural transformation in the oil market. We show, both theoretically and empirically, that this process has relevant consequences on oil risk premia. We construct a consumption-based model with shale producers interacting with financial speculators in the futures market. Compared to conventionals, shale producers have a more flexible technology, but higher risk aversion and additional costs due to their reliance on external finance. Our model helps to explain the observed pattern of aggregate hedging by US firms in the last decade. The empirical analysis shows that the hedging pressure of shale producers has become more relevant than that of conventional producers in explaining the oil futures risk premium. |
| Keywords: | shale oil, futures, risk premium, hedging, speculation, limits to arbitrage |
| JEL: | G00 G13 G32 Q43 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:89097&r=ene |
| By: | Sieber, Niklas; Doll, Claus; Van Hassel, Edwin; Köhler, Jonathan; Vaneslander, Thierry |
| Abstract: | This publication is one of nine working papers compiled within the study "Low Carbon Rail Freight Corridors for Europe" (LowCarb-RFC). The LowCarb-RFC study concentrates on ways for de-carbonising long-distance freight transport along major European corridors as this sector is among the most stead-ily growing sources of greenhouse gas emissions in Europe, and which is most difficult to address by renewable energies and other standard climate mitigation measures in transport. This paper starts by elaborating an appropriate impacts assessment scheme, which is then applied to the transport model results for the LowCarb-RFC scenarios Pro Rail and Pro Road. [...] |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:s172018&r=ene |
| By: | Radoslaw Stefanski (University of St Andrews; OxCarre); Gerhard Toews (New Economics School; OxCarre) |
| Abstract: | Resource misallocation explains a large part of cross-country productivity differences. Measuring differences in marginal revenue products of labor and capital across countries and firms allows for a quantification of the extent of this misallocation, but is typically uninformative of its source. We address this problem by using novel, firm-level data from the oil industry. We confirm the existence of sizeable gaps in marginal revenue products across countries and firms relative to the US, but show that these disappear once we account for revenue taxation. Differences in tax policies are thus sufficient to account for cross-country gaps in marginal products. |
| Keywords: | Misallocation, Productivity Differences, Taxation, Oil |
| JEL: | O4 H2 D61 Q3 O10 |
| Date: | 2018–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:san:wpecon:1804&r=ene |
| By: | Christopher J. Blackburn; Mallory E. Flowers; Daniel C. Matisoff; Juan Moreno-Cruz |
| Abstract: | Pilot and demonstration (P&D) projects are commonly deployed to catalyze early adoption of technology, but are poorly understood in terms of mechanism and impact. We conceptually distinguish unique functions of pilots and demonstrations, then examine whether they accelerate green building adoption. To identify effects of P&Ds on adoption, we develop a difference-in-difference-in-differences strategy, exploiting variation in location, technologies, and timing of P&D projects. Results indicate a 12% increase in adoption rates within markets affected by P&D projects. Further analyses examine mechanisms driving this effect. Subsequent results suggest green building demonstration projects create learning externalities, proliferating technology diffusion under certain conditions. |
| Keywords: | information spillovers, peer effects, social learning, pilot and demonstration projects, technology adoption, diffusion, policy evaluation, green building |
| JEL: | O33 Q55 D83 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_7252&r=ene |
| By: | Khanna, Madhu; Wang, Weiwei; Wang, Michael |
| Keywords: | Resource and Environmental Policy Analysis, Natural Resource Economics, Production Economics |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274450&r=ene |
| By: | Igor Makarov (National Research University Higher School of Economics) |
| Abstract: | This paper analyzes the patterns of CO2 emissions for a sample of 144 countries in 1992–2013. The environmental Kuznets curve (EKC) hypothesis was tested with the help of econometric analysis for both production- and consumption-based emissions. The relationship between incomes and emissions was also examined for leading national economies. The results show an important distinction: while there is some evidence of decoupling between economic growth and the growth of production-based emissions at a higher level of income, consumption-based emissions continue to grow with rising incomes even in the richest countries. There is further investigation of the discrepancies between production and consumption EKCs, which are determined by emissions embodied in international trade. A structural decomposition analysis (SDA) was applied to define the contribution of different factors to the change in emissions embodied in trade with the rise of GDP per capita. While structural and technological factors explain most of this change at low and middle levels of income, the effect of the volume of trade plays the key role in the evolution of emissions embodied in trade in high-income countries |
| Keywords: | environmental Kuznets curve, greenhouse gas emissions, international trade, consumption-based emissions, structural decomposition analysis |
| JEL: | Q54 F18 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:199/ec/2018&r=ene |
| By: | Pena-Levano, Luis M.; Taheripour, Farzad; Tyner, Wallace E. |
| Keywords: | Resource and Environmental Policy Analysis, Food and Agricultural Policy Analysis, Natural Resource Economics |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274406&r=ene |
| By: | Chyi Lin Lee; Hanlu Fan; QingLiang Tang; Peddy PiYing Lai |
| Abstract: | An increasing number of mainstream finance and accounting studies have been devoted to assess the linkage between carbon emissions and firms’ value. However, a majority of these studies focus on direct carbon-intensive firms or firms from all sectors. No empirical study has examined the impact of carbon disclosure on the performance of real estate sector, which is an indirect carbon-intensive sector. This study aims to fill this gap by examining whether there is a carbon-efficiency premium for real estate companies. Specifically, the linkages between the level of carbon emissions and financial return of international real estate companies are scrutinized. The dataset of Carbon Disclosure Project (CDP) over 2010-2015 was utilised. The results assert that an enhanced financial return is associated with a lower level of carbon emissions, reflecting that there is a carbon-efficiency premium. Further we also found some empirical evidence to support the notion of asymmetric market valuation of carbon emissions. Specifically, market participants only price direct carbon emissions, whilst no comparable is found for indirect carbon emissions. The practical implications of the findings are also discussed. |
| Keywords: | asymmetric market valuation; Carbon Disclosure Project; direct carbon emissions; indirect carbon emissions; international real estate companies |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_310&r=ene |
| By: | Torres, Ariana; Behe, Bridget; Barton, Susan |
| Keywords: | Food and Agricultural Marketing, Agribusiness Economics and Management, Research Methods/Econometrics/Stats |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274051&r=ene |
| By: | Andreas Saxinger; Gentiana Haxhiu |
| Abstract: | Heating and hot water costs are a very important factor within operating costs of housing units. Under the German rental law, the landlord can recover these costs to the tenants. In order to do this, the landlord must install devices for measuring the energy consumption for heating and hot water of tenants in each housing unit. Other criteria for allocating the costs to tenants apart from metering energy consumption are not allowed under the German law.Once in a year, the landlord is obliged to send to the tenant an operating cost statement listing all operating costs recovered from him in the previous year. For the landlord, it is important to decide whether to measure the tenants’ energy consumption internally or via an external metering company (make or buy decision). The fees of external metering companies are rather high. The reason for the high fees is that only a few large metering companies dominate the German market which leads to low level of competition. Landlords are hardly able to reduce these fees.Thus housing companies holding a high number of units try to meter the tenants’ energy consumption in-house. They hope that this option is more cost effective, but they need to be careful because metering tenants’ consumption is not a business undertaken every day of the year. For housing companies, this option can only be profitable, if their staff is also in charge of other tasks, for example general maintenance tasks. Before deciding to recruit staff for metering tenants’ energy consumption, housing companies should analyse their situation and check whether the conditions required are fulfilled.A third option for housing companies is to get in contact with other housing companies and to establish with them a joint venture for metering tenants’ energy consumption for all partners involved. Whether such a joint venture is feasible, successful and profitable, also depends on the specific situation of the partners. |
| Keywords: | Energy Consumption; Heating costs; hot water costs; metering; operating costs |
| JEL: | R3 |
| Date: | 2018–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2018_49&r=ene |
| By: | Matsushima, Hiroshi; Khanna, Madhu |
| Keywords: | Resource and Environmental Policy Analysis, Industrial Org./Supply Chain Management, Natural Resource Economics |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274421&r=ene |
| By: | Arnaud Costinot; Iván Werning |
| Abstract: | Technological change, from the advent of robots to expanded trade opportunities, tends to create winners and losers. How should government policy respond? And how should the overall welfare impact of technological change on society be valued? We provide a general theory of optimal technology regulation in a second best world, with rich heterogeneity across households, linear taxes on the subset of firms affected by technological change, and a nonlinear tax on labor income. Our first results consist of three optimal tax formulas, with minimal structural assumptions, involving sufficient statistics that can be implemented using evidence on the distributional impact of new technologies, such as robots and trade. Our second result is a comparative static exercise illustrating that while distributional concerns create a rationale for non-zero taxes on robots and trade, the magnitude of these taxes may decrease as the process of automation and globalization deepens and inequality increases. Our final result shows that, despite limited tax instruments, technological progress is always welcome and valued in the same way as in a first best world. |
| JEL: | F11 F13 H0 H2 H21 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25103&r=ene |
| By: | Jean-Claude Berthelemy (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Vincent Nossek (FERDI - Fondation pour les Etudes et Recherches sur le Développement International) |
| Abstract: | L'UEMOA se trouve aujourd'hui face à un objectif ambitieux qui est l'accès universel à l' électricité d'ici 2030, objectif d'autant plus ambitieux étant donné la part importante représentée par la population rurale au sein de l'UEMOA. Cependant les récentes évolutions technologiques concernant les modes de production d' énergies renouvelables décentralisés permettent un regain d' optimisme quant à l'atteinte de cette objectif. C' est dans ce contexte que cette étude propose un état des lieux au niveau régional et national des solutions d' électrification décentralisée. La littérature sur l' électrification décentralisée permet de relever un certain nombre de bonnes pratiques regroupées sous cinq grands axes qui sont le cadre réglementaire et de régulation, la clarté de l'information, la politique de subvention, la politique de tarification et la sécurisation des investisseurs. En conclusion il parait souhaitable que les pays les plus expérimentés, le Mali et le Sénégal, partagent leurs retours d' expériences avec les autres pays membres de l'UEMOA, en particulier s'agissant de la mise en place d'agences de promotion de l' électrification rurale. Enfin un dernier point essentiel est l' élaboration d'un cadre réglementaire commun, qui serait de nature à favoriser l' émergence d'un marché efficace de l' électrification décentralisée. Version provisoire. Document préparé pour la Commission de l'UEMOA et dont la version fi nale révisée sera publiée par l'UEMOA. *Cette étude a été réalisée dans le cadre de la convention de partenariat entre la Commission de l'UEMOA et la Fondation pour les études et recherches sur le développement international (FERDI), 2015-2017, avec le soutien d' "Investissement d'Avenir". |
| Date: | 2018–08–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:hal-01877215&r=ene |