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on Energy Economics |
| By: | Quitzow, Rainer; Thielges, Sonja; Goldthau, Andreas; Helgenberger, Sebastian; Mbungu, Grace |
| Abstract: | International cooperation in support of a global energy transition is on the rise. Initiatives and venues for multilateral cooperation are complemented by growing bilateral engagement to foster international lesson-drawing and exchange. Official development assistance (ODA) in the energy sector is increasingly being directed to renewable energy sources. Despite these promising developments, it is widely acknowledged that investment towards achieving the Sustainable Development Goal (SDG) 7 on clean and affordable energy is insufficient. A recent report by SE4ALL estimates annual investments in support of SDG7 at USD 30 billion. This is well below the USD 52 billion that would be needed (SE4ALL and Climate Policy Initiative, Energizing finance: Understanding the landscape 2018, 2018). Moreover, investment in clean energy remains heavily concentrated in a small number of frontrunner countries. In terms of technologies, investments in clean energy still overwhelmingly target grid-connected electricity generation. Despite their proven ability to provide rapid and affordable access to clean energy in many country contexts, off-grid technologies account for only 1.3 percent of investments (SE4ALL and Climate Policy Initiative, 2018). Worryingly, a significant share of international public sector financing, most notably by export-credit agencies, is still allocated to coal and other fossil-based technologies. Against this background, this paper makes three recommendations for strengthening international cooperation in support of a global energy transition: 1) Promote investment in clean energy and end support for coal-based energy infrastructure. 2) Tackle the socio-economic dimension of the global energy transition. 3) Provide early market support to promote challenge-based energy innovation. |
| Keywords: | public policy,climate,energy,innovation,development,international political economy |
| JEL: | F5 O3 O38 Q01 Q4 Q48 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwedp:201937&r=all |
| By: | Raul V. Fabella (School of Economics, University of the Philippines Diliman); Geoffrey Ducanes |
| Abstract: | The power industry is being severely disrupted globally and local industry stakeholders have every reason to be worried. The question is how stakeholder capital should henceforth be deployed to reduce the risk of stranded assets. This study is undertaken to assess the impact of power industry disruptors on the near-term prospect of the electricity demand in the most important submarket of the Philippine power market, the greater Metro-Manila area. The emphasis is on the impact of technology disruptors, especially of solar photovoltaic generation and storage, on top of and in conjunction with policy disruptors. Part One tackles firstly the risks to sustained economic and income growth which will, in turn, impact on the demand for electricity?the macro-economic risks, the global risks, and the policy risks; secondly the risks internal to the electricity industry itself?the technology disruptors especially coming from growing adoption of rooftop and mini-grid solar photovoltaic installations and battery storage. The challenge of solar distributed generation counsels a more sober outlook and a more inclusive portfolio diversification by centralized power generation capitalists. Part Two employs an error correction model to forecast the growth of aggregate and disaggregate (by customer types) demand in a distribution utility franchise, in this case, the Meralco franchise, over the next five years. This model can be adopted as benchmark and adapted by industry stakeholders especially other distribution utility franchises for their own forecasts which should inform the rate setting exercise between the distribution utilities and the regulator, the Energy Regulatory Commission. |
| Keywords: | Electricity demand; Forecast methods; Distributed Solar Photovoltaic; Rooftop and Mini-grid systems; Policy disruptors |
| JEL: | C53 Q47 Q43 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:phs:dpaper:201901&r=all |
| By: | Bernadeta Gołębiowska (Faculty of Economic Sciences, University of Warsaw); Anna Bartczak (Faculty of Economic Sciences, University of Warsaw); Wiktor Budziński (Faculty of Economic Sciences, University of Warsaw) |
| Abstract: | Poland’s energy strategy prioritizes long-term energy security, energy efficiency, reducing greenhouse gas emissions. The country’s progress toward sustainable development requires in-depth analyses of possible solutions. In our study we investigate consumers’ preferences for Demand Side Management programs for electricity usage in Poland. We apply a discrete Choice Experiment framework for various electricity contracts implying the external control of electricity usage. The main objective of the study is to investigate the value of potential disutility of Polish households from the energy management. Additionally, we elaborate on the effect of social comparison between households’ electricity use on the acceptance of new electricity contracts. The results suggest that people require substantial compensations to accept the external control of electricity in extreme cases and in weekdays during certain hours. Turning to the social comparison, we were expecting that people with a higher electricity usage per person in a household will require lower compensations, however we observe the opposite result. The respondents who were informed that they use more electricity than an average person in his administrative district seem to feel higher discomfort from the external electricity control. This suggest that the effect of social comparison might be overbalanced by the differences in perceived utility from electricity usage. |
| Keywords: | choice experiment; demand side management; electricity, social comparison, willingness to accept |
| JEL: | C25 D19 D91 Q41 Q48 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:war:wpaper:2019-10&r=all |
| By: | Özge Özdemir (PBL Netherlands Environmental Assessment Agency); Benjamin F Hobbs (The Johns Hopkins University); Marit van Hout (PBL Netherlands Environmental Assessment Agency); Paul Koutstaal (PBL Netherlands Environmental Assessment Agency) |
| Keywords: | Electricity markets, renewable policy, capacity subsidy, energy subsidy, renewable target |
| JEL: | H23 L94 Q28 Q48 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1911&r=all |
| By: | Suzi Kerr (Motu Economic and Public Policy Research); Juan-Pablo Montero (Pontificia Universidad Católica de Chile); Ruben Lubowski (Environmental Defense Fund); Angela Cadena (Universidad de los Andes); Mario Londoño (Universidad de los Andes); Soffia Alarcon (Carbon Trust); Oscar Rodriguez (Econometría) |
| Abstract: | The primary objective of a Colombian ETS would be to support the country to achieve its climate targets as defined in its Nationally Determined Contribution (NDC): a 20 - 30% reduction in GHG emissions compared to the business as usual scenario by 2030. An ETS, like a carbon tax (which could be used at the same time), can also raise revenue. Neither of these pricing policies constitutes a complete climate mitigation policy. On 27 July 2018, Colombia adopted a climate law, which outlines provisions for the establishment of a National Program of Greenhouse Gas Tradable Emission Quotas. This makes Colombia the second country in Latin America (joining Mexico) to enact legislation for what is likely to become a national Emissions Trading System (ETS). Colombia also already has a carbon tax that covers many fossil fuels and an offset system that can be used instead of paying this tax. This paper presents a working model for what an ETS could look like in Colombia and was part of a larger project, funded by the World Bank´s Partnership for Market Readiness with support from the Colombian government. While the working model in this paper was designed specifically for Colombia, taking into account its GHG emissions profile and a variety of contextual parameters, many of its design lessons extend to other countries and/or regions. We designed this model with the aim of including all sectors and covering nearly all the country´s emissions. |
| Keywords: | Emissions trading, climate change, Colombia, global warming, agriculture, forestry, energy |
| JEL: | Q15 Q28 Q54 Q58 O13 |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:mtu:wpaper:19_06&r=all |
| By: | Malina, Christiane |
| Abstract: | The German government undertook several supportive measures to increase market penetration of all-electric vehicles (AEVs), e.g. a purchase rebate of 4000 Euro. In this paper, the fiscal measures are analyzed from a normative perspective. First, none of the arguments of market failure could be found to validate government intervention. In a first-order approximation of damage cost savings, the reduced external effect through driving, due to the displacement of internal combustion engine vehicles through AEVs, was found to be 5 times lower than the expenditures through the subsidy. Adding climate cost savings, total lifetime savings from driving equal the subsidy. However, considering life-cycle impact and additional subsidies, the purchase rebate cannot be justified. Secondly, German industrial policy could also not serve to justify government intervention. The purchase subsidy does not directly qualify for the industrial policy argument and private investment in battery technology and the charging infrastructure is established and preferred. Finally, allocating the true costs to each transport mode and thus internalizing the external effects is suggested as the approach of first-choice. For vehicles it is suggested that certificates have to be held by fuel suppliers, who then pass the price for pollution on to the end user. This provides an efficient and effective market solution to mitigate climate change and pollution effects and can increase AEV market penetration, if this is socially beneficial. |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cawmdp:109&r=all |
| By: | Reynaert, Mathias; Sallee, James |
| Abstract: | Firms sometimes comply with externality-correcting policies by gaming the measure that determines policy. This harms consumers by eroding information, but it benefits them when cost savings are passed through into prices. We develop a model that highlights this tension and use it to analyze gaming of automobile carbon emission ratings in the EU. We document startling increases in gaming using novel data. We then analyze the effects of gaming in calibrated simulations. Over a wide range of parameters, we find that pass through substantially outweighs information distortions; on net, consumers benefit from gaming, even when they are fooled by it. |
| Keywords: | automobiles; Carbon Emissions; corrective taxation; Environmental Regulation; fuel economy; Gaming; Goodhart's Law |
| JEL: | H2 L5 Q5 |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13755&r=all |
| By: | Seppälä, Timo; Mattila, Juri; Rajala, Risto |
| Abstract: | Abstract It is predicted that in 2030, the energy consumption of the ICT sector will be 21% of the world’s energy consumption, but will resources be enough to carry out all the digital technology development trends at the same time? Trends, such as the transition to the ecommerce, the transition of mobile services to the fifth-generation network, video streaming, online gaming and the rise of electric cars, all increase the need for both storage and computing capacity and energy as well. More broadly, the geographical location of digital resources and infrastructures has implications to country’s security of supply, for example in systems of systems development of smart traffic. The ecological effects of digitalization should also be explored through the lens of digital ecology and sustainability. |
| Keywords: | ICT, Energy efficiency, Computing capacity, Emissions trading, Security of supply |
| JEL: | O3 O33 Q4 Q5 |
| Date: | 2019–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:rif:briefs:80&r=all |
| By: | Simplice A. Asongu (Yaoundé/Cameroon) |
| Abstract: | We provide policy-relevant critical masses beyond which, increasing CO2 emissions negatively affects inclusive human development. This study examines how increasing CO2 emissions affects inclusive human development in 44 Sub-Saharan African countries for the period 2000-2012. The empirical evidence is based on Fixed Effects and Tobit regressions. 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). All computed thresholds are within policy range. Hence, above these thresholds, CO2 emissions negatively affect inclusive human development. |
| Keywords: | CO2 emissions; Economic development; Africa |
| JEL: | C52 O38 O40 O55 P37 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:abh:wpaper:18/023&r=all |
| By: | Edward J. Balistreri (Center for Agricultural and Rural Development (CARD)); Daniel T. Kaffine; Hidemichi Yonezawa |
| Abstract: | A country choosing to adopt border carbon adjustments based on embodied emissions is motivated by both environmental and strategic incentives. We argue that the strategic component is inconsistent with commitments under the General Agreement on Tariffs and Trade (GATT). We extend the theory of border adjustments to neutralize the strategic incentive, and consider the remaining environmental incentive in a simplified structure. The theory supports border adjustments on carbon content that are below the domestic carbon price, because price signals sent through border adjustments inadvertently encourage consumption of emissions intensive goods in unregulated regions. The theoretic intuition is supported in our applied numeric simulations. Countries imposing border adjustments at the domestic carbon price will be extracting rents from unregulated regions at the expense of efficient environmental policy and consistency with international trade law. JEL classifications: F13, F18, Q54, Q56 Keywords: climate policy, border tax adjustments, carbon leakage, trade and carbon taxes. |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:ias:cpaper:19-wp591&r=all |
| By: | Alexander, Diane (Federal Reserve Bank of Chicago); Schwandt, Hannes |
| Abstract: | Car exhaust is a major source of air pollution, but little is known about its impacts on population health. We exploit the dispersion of emissions-cheating diesel cars across the United States from 2008–2015 as a natural experiment to measure the health impact of car pollution—each cheating diesel car secretly polluted up to 150 times as much as gasoline cars. Using the universe of vehicle registrations, we demonstrate that a 10 percent cheating-induced increase in car exhaust increases fine particulate matter by 2 percent and rates of low birth weight and acute asthma attacks among children by 1.9 and 8.0 percent, respectively. These health impacts occur at all pollution levels and across the entire socioeconomic spectrum. |
| Keywords: | car pollution, health, emissions-cheating |
| JEL: | I10 I14 K32 J13 |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12427&r=all |
| By: | Joachim Geske (Imperial College London); Richard Green (Imperial College London); Iain Staffell (Imperial College London) |
| Keywords: | Electricity Trading, Market Coupling, Brexit |
| JEL: | L94 F13 F15 |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1916&r=all |
| By: | David Newbery (University of Cambridge) |
| Keywords: | British electricity supply, reforms, financing, renewables, tariffs, nuclear |
| JEL: | D43 H23 L94 Q48 Q54 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1907&r=all |
| By: | Michael Keller (Department of Economics, University of Sussex, Brighton, UK) |
| Abstract: | This paper uses Stochastic Frontier Analysis (SFA) to determine whether oil rents drive inefficiency in the healthcare sector. SFA simultaneously estimates a production function for health outputs and the determinants of inefficiency in production. Using a sample of 119 countries covering the period 2000 to 2015, unexpectedly high oil revenues are shown to increase inefficiency. Oil rents hinder countries in reaching their potential life expectancy. Exploiting exogenous variation in the international oil price reveals that causality runs from oil rents to inefficiency. The effect varies with institutions, sex and age. The effect is more pronounced in democracies, and women and children are affected more. Transparency and inequality are potential mechanisms. |
| Keywords: | Oil windfalls, health expenditure, stochastic frontier analysis |
| JEL: | H51 I15 Q33 Q38 |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:sus:susewp:0819&r=all |
| By: | Golnoush Soroush (Department of Management, Politecnico di Torino, Italy); Carlo Cambini (Department of Management, Politecnico di Torino, Italy); Tooraj Jamasb (Durham University Business School, Durham University, UK); Manuel Llorca (Durham University Business School, Durham University, UK) |
| Keywords: | Institutional quality, stochastic frontier analysis, electricity distribution in Italy, cost efficiency, inefficiency determinants |
| JEL: | D22 L51 L94 O43 |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1914&r=all |
| By: | Reynaert, Mathias |
| Abstract: | Emission standards are a major policy tool to reduce greenhouse gas emissions from transportation. The welfare effects from this type of regulation depend on how firms choose to abate emissions, i.e., by sales-mixing (changing prices), by downsizing (releasing smaller cars), by technology adoption or by gaming emission tests. Using panel data covering 1998-2011, I find that the introduction of a EU-wide emission standard coincides with a 14% drop in emission ratings. I find that this drop is fully explained by technology adoption and gaming and not by sales mixing or downsizing. I estimate a structural model to find that the regulation missed its emission target and was not welfare improving. Abatement with sales mixing would have reduced emissions, but at high costs. The political environment in the EU shaped the design and weak enforcement of the regulation and explains the choices for abatement by technology adoption and gaming. |
| Keywords: | automobiles; Carbon Emissions; compliance; Environmental Regulation; fuel economy |
| JEL: | L5 Q5 |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13756&r=all |
| By: | Mirjam Ambrosius (Universität Erlangen-Nürnberg (FAU)); Jonas Egerer (Universität Erlangen-Nürnberg (FAU)); Veronika Grimm (Universität Erlangen-Nürnberg (FAU)); Adriaan H van der Weijde (University of Edinburgh) |
| Keywords: | Electricity, investment, structural uncertainty, market design, bidding zones, nodal pricing |
| JEL: | D80 L51 Q41 Q48 |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1915&r=all |
| By: | Grischa Perino (University of Hamburg, Germany); Robert Ritz (University of Cambridge); Arthur van Benthem (The Wharton Shool, University of Pennsylvania, USA) |
| Keywords: | Cap-and-trade, carbon leakage, carbon price floor, carbon pricing, EU ETS, overlapping policy, hybrid policy, waterbed effect |
| JEL: | H23 Q54 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1910&r=all |
| By: | Chi Kong Chyong (University of Cambridge) |
| Keywords: | Natural gas, European single gas market, security of supply, regulatory policy |
| JEL: | L94 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1908&r=all |
| By: | Simplice A. Asongu (Yaoundé/Cameroon); 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:abh:wpaper:18/037&r=all |
| By: | Broberg, Thomas (CERE - the Center for Environmental and Resource Economics); Melkamu Daniel , Aemiro (CERE - the Center for Environmental and Resource Economics); Persson, Lars (CERE - the Center for Environmental and Resource Economics) |
| Abstract: | In this paper we investigate if a pro-environmental framing influences households' stated willingness to accept restrictions on their electricity use. We use a split-sample choice experiment (CE) and ask respondents to choose between their current electricity contract and hypothetical contracts featuring various load controls and a monetary compensation. Our results indicate that the pro-environmental framing have little impact on the respondents' choices. We observe a significant framing effect on choices and marginal willingness-to-accept (MWTA) for only a few contract attributes. The results further suggest that there is no significant framing effect among households that engage in different pro-environmental activities. |
| Keywords: | Choice experiment; Demand response; Electricity contract; Load management; Pro-environmental framing; Willingness to accept |
| JEL: | C25 D83 Q51 Q54 |
| Date: | 2019–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:slucer:2019_008&r=all |
| By: | Rodríguez, Jesús; Puch, Luis A.; Marrero, Gustavo; Díaz Rodríguez, Antonia |
| Abstract: | This paper explores how changes in energy intensity and the switch to renewables can boost economic growth. To do so, we implement a dynamic panel data approach on a sample of 134 countries over the period 1960 to 2010. We incorporate a set of control variables, related to human and physical capital, socio-economic conditions, policies and institutions, which have been widely used in the literature on economic growth. Given the current state of technology, improving energy intensity is growth enhancing at the worldwide level. Moreover, conditional to energy intensity, moving from fossil fuels to frontier renewables (wind, solar, wave or geothermic) is also positively correlated with growth. Our results are robust to the specification of the dynamic panel with respect to alternative approaches (pooled OLS, within group or system GMM), and to alternative specifications (accounting for heterogeneity across countries, a set of institutional factors, and other technical aspects). |
| Keywords: | Dynamic Panel Data Models; Renewables; Energy Intensity; Growth |
| JEL: | Q43 Q2 O5 C23 |
| Date: | 2019–03–22 |
| URL: | http://d.repec.org/n?u=RePEc:cte:werepe:28461&r=all |
| By: | YOSHIKAWA Yasuhiro; KOBAYASHI Yohei; YOKOO Hidefumi; FUKAI Akio; TAGUCHI Sosuke |
| Abstract: | The Agency for Natural Resources and Energy introduced the "Business Classification Evaluation System" in 2016 to encourage businesses enterprises to conserve energy. In this paper, we empirically analyze the effectiveness of the business classification evaluation system by using periodic report data submitted by business enterprises and our own survey. To reveal the causal effect of the system on corporate behavior for energy conservation, we employ a regression discontinuity design. Our empirical results show that business enterprises whose energy efficiency deteriorates for two consecutive years, improve the efficiency after receiving warning letters from the government. |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:19018&r=all |
| By: | Dybikowska, Adrianna; Graczyk, Magdalena |
| Abstract: | Functioning of modern agriculture and farms is dominated by increasing demand for energy. Meeting this demand is, however, a strategic problem which affects energy, food and environmental safety as well as operating costs of commercial farms and rural households. This paper discusses the problems of implementation of eco-innovation on the example of renewable energy sources in the Polish farm sector. The paper analyses energy intensity and structure of energy consumption in the Polish agricultural sector. It discusses the structure of energy consumption, taking into account rural areas, in Poland and Europe as well as analyzes energy costs in various types of agricultural production. Moreover, the paper assesses the potential of renewable energy sources in the Polish agriculture and presents barriers connected to their use. |
| Keywords: | Agribusiness, Farm Management, Resource /Energy Economics and Policy |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iafepa:289465&r=all |
| By: | HIRAI Yusuke; KOBAYASHI Yohei; YOKOO Hidefumi; TAKAHASHI Kei; TAKEDA Masahiro; YOSHIKAWA Yasuhiro |
| Abstract: | The "Label Display Program for Retailers" under the revised Act on the Rational Use of Energy, which was introduced in 2006, obligates retailers to make efforts to display information on energy saving performance so that consumers can recognize and compare the performance of products. In this paper, we examine which types of energy saving information increase the probability of selecting energy-saving air conditioners by utilizing an online randomized controlled trial. Our empirical results indicate that the selection probability of energy-saving products increases when multistage ratings and expected annual electricity bill information are displayed. On the other hand, our results also reveal that information on achievement rate in terms of energy-saving standards does not significantly increase the selection probability of energy-saving products. |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:19021&r=all |
| By: | Alfredo Trespalacios; Lina M. Cortés; Javier Perote |
| JEL: | C14 C22 C53 L94 L98 Q2 |
| Date: | 2019–06–04 |
| URL: | http://d.repec.org/n?u=RePEc:col:000122:017304&r=all |
| By: | Juan F. Rendón; Alfredo Trespalacios; Lina M. Cortés; Hernán D. Villada |
| JEL: | C58 Q42 |
| Date: | 2019–06–04 |
| URL: | http://d.repec.org/n?u=RePEc:col:000122:017306&r=all |
| By: | Tokhir N Mirzoev; Ling Zhu |
| Abstract: | We examine the existing fiscal policy paradigm in commodity-exporting countries. First, we argue that its centerpiece—the permanent income hypothesis (PIH)—is not consistent with either intergenerational equity or long-term sustainability in the presence of uncertainty. Policies to achieve these goals need to be more prudent and better anchored than the PIH. Second, we point out the presence of a volatility tradeoff between government spending and wealth and re-assess long-held views on the appropriate fiscal anchors, the vice of procyclicality, and the (im)possibility of simultaneously smoothing consumption and ensuring intergenerational equity and sustainability. Finally, we propose what we call a prudent wealth stabilization policy that would be more consistent with long-term fiscal policy goals, yet relatively simple to implement and communicate. |
| Date: | 2019–05–17 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:19/108&r=all |
| By: | Mahir Sarfati (KTH Royal Institute of Technology, Sweden); Mahammad Reza Hesamzadeh (KTH Royal Institute of Technology, Sweden); Par Holmberg (Research Institute of Industrial Economics (IFN), Sweden) |
| Keywords: | Congestion management, Zonal pricing, Flow-based market coupling |
| JEL: | C61 C72 D43 L13 L94 |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1909&r=all |
| By: | Yang Han (Department of Electrical and Electronic Engineering, The University of Hong Kong); Victor OK Li (Department of Electrical and Electronic Engineering, The University of Hong Kong); Jacqueline CK Lam (Department of Electrical and Electronic Engineering, The University of Hong Kong); Michael Pollitt (EPRG, University of Cambridge) |
| Keywords: | Blue Sky Day (BSD), Air Quality, Beijing, Data Irregularity, Bayesian LSTM, Data Estimation |
| JEL: | C53 C63 Q53 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1912&r=all |
| By: | Luca Lo Re (International Energy Agency); Manasvini Vaidyula (OECD) |
| Abstract: | This paper provides a technical analysis of two specific unresolved issues in the negotiations of rules for Article 6 of the Paris Agreement: (i) accounting methods for single- and multi-year NDCs under Article 6.2 and (ii) the implications of a potential transition of activities and units from the Kyoto Protocol mechanisms to the Article 6.4 mechanism. The paper first describes the accounting methods under consideration in Article 6.2 discussions and highlights that different methods can have different implications for environmental integrity, particularly if used by Parties with single-year NDCs. The paper then presents different options of transition of activities and units from the Clean Development Mechanism to the Article 6.4 mechanism. The analysis highlights that a potential full transition of activities could inhibit or delay new investments in mitigation activities, and that the supply of units could be several times larger than demand in 2020, leading to a significant carry-over. |
| Date: | 2019–06–18 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaab:2019/03-en&r=all |
| By: | David Newbery (University of Cambridge); Giorgio Castagneto Gissey (UCL); Bowei Guo (University of Cambridge); Paul E Dodds (UCL) |
| Keywords: | Interconnectors, market coupling, hedging, private and social cost |
| JEL: | C54 D40 D44 F14 H23 L94 Q48 |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg1913&r=all |