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on Energy Economics |
| By: | Ambec, Stefan; Crampes, Claude |
| Abstract: | The presence of consumers able to respond to changes in wholesale electricity prices facilitates the penetration of renewable intermittent sources of energy such as wind or sun power. We investigate how adapting demand to intermittent electricity supply by making consumers price-responsive - thanks to smart meters and home automation appliances - impact the energy mix. We show that it always reduces carbon emissions. Furthermore, when consumers are not too risk-averse, demand response is socially beneficial because the loss from exposing consumers to volatile prices is more than offset by lower production and environmental costs. However, the gain is decreasing when the proportion of reactive consumers increases. Therefore, depending on the costs of the necessary smart hardware, it may be non-optimal to equip the whole population. |
| Keywords: | electricity; intermittency; renewable dynamic pricing; demand response; smart; meters. |
| JEL: | D24 D62 Q41 Q42 Q48 |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:124192&r=all |
| By: | Simone Tagliapietra; Georg Zachmann; Ottmar Edenhofer; Jean-Michel Glachant; Pedro Linares; Andreas Loeschel |
| Abstract: | The issue Over the last decade, the European Union has pursued a proactive climate policy and has integrated a significant amount of renewable technologies – such as solar and wind – into the established energy system. These efforts have proved successful and continuing along this pathway, increasing renewables and improving energy efficiency would not require substantial policy shifts. But the EU now needs a much deeper energy transformation to- i)... |
| Date: | 2019–07 |
| URL: | http://d.repec.org/n?u=RePEc:bre:polbrf:31598&r=all |
| By: | Jaller, Miguel; Pahwa, Anmol |
| Abstract: | In the last decade, e‐commerce has grown substantially, increasing business‐to‐business, business‐to‐consumer, and consumer‐to‐consumer transactions. While this has brought prosperity for the e-retailers, the ever-increasing consumer demand has brought more trucks to the residential areas, bringing along externalities such as congestion, air and noise pollution, and energy consumption. To cope with this, different logistics strategies such as the introduction of micro-hubs, alternative delivery points, and use of cargo bikes and zero emission vehicles for the last mile have been introduced and, in some cases, implemented as well. This project, hence, aims to develop an analytical framework to model urban last mile delivery. In particular, this study will build upon the previously developed econometric behavior models that capture e-commerce demand. Then, based on continuous approximation techniques, the authors will model the last-mile delivery operations. And finally, using the cost-based sustainability assessment model (developed in this study), the authors will estimate the economic and environmental impacts of residential deliveries under different city logistics strategies. View the NCST Project Webpage |
| Keywords: | Engineering, Last mile delivery, City logistics, Continuous approximation, Cargo consolidation, Alternate fuel vehicles |
| Date: | 2020–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt4143j4pr&r=all |
| By: | Saptorshee Kanto Chakraborty (University of Ferrara, Italy); Massimiliano Mazzanti (University of Ferrara; SEEDS, Italy) |
| Abstract: | Carbon taxation has been suggested among the market based policies to tackle climate change since the early 90’s, often associated to ecological tax reforms rationales. Before the advent of emission trading in the EU, some countries introduced forms of carbon taxation, which is still used to deal with non EU ETS sectors. Due to this historical evolution of environmental policies over the last decades, in presence of a ‘federal system’ that assigns to EU countries the governance of energy and fiscal issues, an heterogeneous set of country driven carbon/energy policy settings is present, which can determine effects on growth and trade. We investigate the possible existence of asymmetries among the European Carbon area countries reaction to the policy adoption responsible to combat climate change via carbon usage reduction. |
| Keywords: | carbon taxation, spillovers, trade |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:srt:wpaper:0420&r=all |
| By: | Laurence J. Kotlikoff; Felix Kubler; Andrey Polbin; Simon Scheidegger |
| Abstract: | Anthropogenic climate change produces two conceptually distinct negative economic externalities. The first is an expected path of climate damage. The second, which is this paper's focus, is an expected path of economic risk. To isolate the climate-risk problem, we consider mean-zero, symmetric shocks in our 12-period, overlapping generations model. These shocks impact dirty energy usage (carbon emissions), the relationship between carbon concentration and temperature, and the connection between temperature and damages. Our model exhibits a de minimis climate problem absent its shocks. But due to non-linearities, symmetric shocks deliver negatively skewed impacts, including the potential for climate disasters. As we show, Pareto-improving carbon taxation can dramatically lower climate risk, in general, and disaster risk, in particular. The associated climate-risk tax, which is focused exclusively on limiting climate risk, can be as large or larger than the carbon average-damage tax, which is focused exclusively on limiting average damage. |
| JEL: | F0 F20 H0 H2 H3 J20 |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:26919&r=all |
| By: | Mozhgan Asna-ashary (Ferdowsi University of Mashhad); Mohammad Reza Farzanegan (Philipps-University Marburg); Mehdi Feizi (Ferdowsi University of Mashhad); Saeed Malek Sadati (Ferdowsi University of Mashhad) |
| Abstract: | The new Coronavirus pandemic has extensive negative socioeconomic impacts. However, its effects on climate change and in particular air pollution, at least at the beginning of the outbreak, is not clear. Fear of getting the Coronavirus in crowded public spaces increased the use of personal cars, while prevention policies that seek to decrease population movement reduced their usage. This paper investigates the relationship between the outbreak of COVID-19, measured by the number of infected cases, and air pollution, measured by PM2.5, in 31 Iranian provinces over the 19 February 2020 to 11 March 2020 period. We employ a panel vector autoregressive (PVAR) approach along with impulse response functions (IRFs), variance decomposition, and Granger causality tests. The analysis shows negative responses of the PM pollution to positive shock in COVID-19 cases in Iran. |
| Keywords: | COVID-19, Iran, panel vector autoregressive model, air pollution. |
| JEL: | I18 Q53 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:202016&r=all |
| By: | Polbin, Andrey |
| Abstract: | This paper presents an unobserved component model for real GDP, real household consumption, and real investment of an oil-exporting economy. The model decomposes domestic variables’ dynamics into permanent and transitory components, accounting for dependence on oil prices in the short and long-run, as well as for the common long-run economic growth and the common cyclical behavior. Estimated on the Russian macroeconomic variables, the model exhibits strong dependence on oil prices. |
| Keywords: | oil prices; GDP; consumption; investment; unobserved component model; common growth |
| JEL: | C13 C32 C51 E20 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:99381&r=all |
| By: | Ben McWilliams; Georg Zachmann |
| Abstract: | The European Green Deal has set a target of reducing European Union carbon emissions by about 40 per cent over the next ten years. Reaching this target is likely to involve a significant increase in carbon prices. Theoretically, higher carbon prices can lead to carbon leakage, or the relocation of industrial activity and its accompanying emissions out of economies with high carbon prices and into economies with low carbon prices.... |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:bre:polcon:35218&r=all |
| By: | Natalia Turdyeva |
| Abstract: | The principal interest of the paper is the quantification of terms of trade shocks response of the Russian economy on a detailed computable general equilibrium (CGE) model calibrated with Russian input-output data. The results suggest a decrease of welfare of the representative consumer and real GDP with the deterioration of the terms of trade. In the Central scenario (a 10% decrease in the world price of crude oil, a 3% decrease in the world price of natural gas and an 8% decrease in the world price of petroleum products) welfare of the representative consumer decreases by -1,17% of benchmark consumption level or -0,58% of the base year GDP in the comparative static model. Percentage change of the GDP in the Central scenario of the comparative static model is of the same magnitude as decrease in representative consumer’s welfare in terms of the benchmark GDP: -1,55%. Welfare changes associated with the Central scenario of the steady-state model, where capital stock adjusts to its long-term level, indicate a significant decrease in the welfare of the representative consumer up to -2,64% of benchmark consumption level or -1,23% of the base year GDP. Percentage change of the GDP in the Central scenario of the steady-state model exceeds representative consumer’s decrease in welfare in terms of the benchmark GDP: -2,51%. The model was validated by historical simulation with observed levels of exogenous parameters, mimicking change in economic environment from 2011 to 2015. The results of the historical simulation stress the importance of fiscal parameters (i.e. export taxes) in analysis of production behaviour of Russian extraction industries. |
| Keywords: | terms of trade, oil price shock, computable general equilibrium models, input-output table, industry output; CGE model validation. |
| JEL: | F17 C68 D58 |
| Date: | 2019–10 |
| URL: | http://d.repec.org/n?u=RePEc:bkr:wpaper:wps48&r=all |
| By: | Giulia Gadani (University of Ferrara, Italy); Ibon Galarraga (BC3 - Basque Centre for Climate Change); Elisa Sainz de Murieta (BC3 - Basque Centre for Climate Change) |
| Keywords: | Climate change governance, regional climate change policy, climate change commitment, mitigation, adaptation |
| JEL: | Q54 R11 Q58 |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:srt:wpaper:0520&r=all |
| By: | David F. Hendry (Institute for New Economic Thinking at the Oxford Martin School and Climate Econometrics, Nuffield College, University of Oxford) |
| Abstract: | The United Kingdom was the first country into the Industrial Revolution in the mid-18th Century. 250 years later, real income levels in the UK are about 7-10 fold higher per capita, even greater elsewhere, many killer diseases have been tamed, and longevity has approximately doubled. However, such beneficial developments have led to a global explosion in anthropogenic emissions of greenhouse gases. Following the Climate Change Act of 2008, the UK is now one of the first countries out, with annual CO_2 emissions per capita below 1860’s levels. We develop an econometric model of its highly non-stationary emissions process over the last 150 years, confirming the key roles of reduced coal use and of the capital stock, which embodies the vintage of technology at its construction. Major shifts and outliers must be handled to develop a viable model, and the advantages of doing so are detecting the impacts of important policies and improved forecasts. Large reductions in all CO_2 sources will be required to meet the 2050 target of an 80% reduction from 1970 levels, and their near elimination for a net-zero level. |
| Keywords: | UK CO2 Emissions; Model Selection; Saturation Estimation; Autometrics; Climate Change Act; Climate Policy Implications. |
| JEL: | C51 Q54 |
| Date: | 2020–02–07 |
| URL: | http://d.repec.org/n?u=RePEc:nuf:econwp:2002&r=all |
| By: | Handy, Susan |
| Abstract: | Cars provide an unparalleled level of mobility but have negative financial, public health, environmental, and social impacts. Reducing the need for driving in California would produce a range of household- and community-level benefits. Driving is associated with adverse health effects (e.g., obesity, high blood pressure, depression, injuries, fatalities), while commuting by walking or biking provides numerous physical and mental health benefits. A reduction in driving would also improve public health by decreasing air pollution and greenhouse gas emissions. It would save substantial sums of money: households spend about $9,000/year or 16% of their expenses on private vehicle ownership (2017 data) and the state spends over $500 million per year on highway maintenance. A less car-dependent society would also be more equitable for those with limited income or limited physical abilities who cannot drive, to the benefit not just of those individuals but the community as a whole. While it is not realistic in the foreseeable future for most Californians to live without their cars, it is possible to decrease car dependence. Doing so requires a shift away from a century-old prioritization of the goal of reducing vehicle delays over other important goals. Creating a less car-dependent world is not necessarily more costly to the public and can be achieved over time through changes in land use and transportation planning practices. Answers to many of the frequently asked questions about such efforts are provided. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, Automobile travel, sustainable transportation, sustainable development, infill, automobile dependence |
| Date: | 2020–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt0hk0h610&r=all |
| By: | Brützel, Christoph |
| Abstract: | In today's political and media discussion there is an argument that airline tickets should not be cheaper than train tickets as this would foster growth of air traffic hurting the global climate by being the most negative means of transportation with regard to CO2- and other greenhouse gas emissions. Therefore, rail transportation should be subsidized even more, and value added taxes should be reduced so that train tickets might become cheaper to dry out demand for air transportation and by this reduce traffic and its environmental impact. A cost benchmarking of a seat offered in a long-distance train at the example of a GERMAN ICE-2 and an Airbus A320, each operated on the route between Düsseldorf and Berlin shows, that this rationale is based on alternative facts. |
| Keywords: | Aviation,Airlines,Rail Companies,Long Distance Train,Cost Benchmarking,Short haul Flights,Modal Cost Rail Traffic,Modal Cost Air Traffic |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iubhtl:22019&r=all |
| By: | Piergiacomo Sabino |
| Abstract: | In this study we define a three-step procedure to relate the self-decomposability of the stationary law of a generalized Ornstein-Uhlenbeck process to the law of the increments of such processes. Based on this procedure and the results of Qu et al. (2019), we derive the exact simulation, without numerical inversion, of the skeleton of a Variance Gamma, and of a symmetric Variance Gamma driven Ornstein-Uhlenbeck process. Extensive numerical experiments are reported to demonstrate the accuracy and efficiency of our algorithms. These results are instrumental to simulate the spot price dynamics in energy markets and to price Asian options and gas storages by Monte Carlo simulations in a framework similar to the one discussed in Cummins et al. (2017, 2018). |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2004.06786&r=all |
| By: | Matteo Gardini; Piergiacomo Sabino; Emanuela Sasso |
| Abstract: | The aim of this paper is to build dependent stochastic processes using the notion of self-decomposability in order to model dependence across different markets and extend some recently proposed multivariate L\'evy models based on subordination. Consequently, we study the properties of such processes, derive closed form expressions for characteristic function and linear correlation coefficient and develop Monte Carlo schemes for their simulation. These results are instrumental to calibrate the models on power and gas energy European markets and to price spread options written on different underlying assets using Monte Carlo and Fourier techniques. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2004.04048&r=all |
| By: | Yo-Der Song (University College London); Tomaso Aste (University College London) |
| Abstract: | The Bitcoin network is burning a large amount of energy for mining. In this paper we estimate the lower bound for the global energy cost for a period of ten years from 2010 to 2020, taking into account changing oil costs, improvements in hashing technologies and hashing activity. Despite a ten-billion-fold increase in hashing activity and a ten-million-fold increase in total energy consumption, we find the mining cost relative to the volume of transactions has not increased nor decreased since 2010. This is consistent with the perspective that the proof of work must cost a sizable fraction of the value that can be transferred through the network in order to keep the Blockchain system secure from double spending attacks. We estimate that in the Bitcoin network this fraction is of the order of 1%. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2004.04605&r=all |
| By: | Fielding, Kelly; Nauges, Céline; Wheeler, Sarah Ann |
| Abstract: | Although past findings are inconclusive, there is evidence of a negative relationship between wealth—at the household and country level—and climate change concern. One explanation for this relationship is that wealth provides a buffer against the risks of climate change, leading people in wealthy countries or wealthy households to perceive a greater sense of control over climate change impacts which in turn results in lower levels of concern. We tested this hypothesis with data sourced from the OECD Environment Directorate which conducted a detailed household survey in 2011 of 11 OECD countries (N=10,162). Our results accord with past studies showing a significant negative relationship between country and household wealth and individuals’ perceptions of the seriousness of climate change. Moreover, our findings suggest that this relationship is mediated through sense of control, measured at the country level by the readiness index and at the household level by the extent of adoption of energy efficiency improvements. These findings raise the question of how best to incentivise action on climate change amongst those with the ability - but not necessarily the motivation - to respond. |
| Keywords: | climate change concern; wealth; control; country wealth; household wealth. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:124190&r=all |
| By: | Eiji Yamada |
| Abstract: | Abstract Weconstructaspatialequilibriummodelwithendogenousairpollutionasaby-productof production andconsumption,wherespatiallymobileskilledandunskilledworkersareaffected negativelybutheterogeneouslybyairpollution.Usingacalibratedversionofthemodelbased on dataforChinain2010,weshowthatstrictregulationcanbea centripetal forcethatattracts workersandproductiontowardtheregulatedplace,whilereducingthelocalandoverallemission of pollutants.Thisresultisincontrasttotheinsightsoftraditionaltheoriesthatseeenviron- mental regulationasa centrifugal forceforthelocaleconomy.Themigrationofworkerswho care environmentalquality,input-outputlinkagesindomestictradenetworks,andopennessto internationaltrade,workinthemechanismdeliveringthisresult.Wethenconsiderahypothetical policy toreducenationalindustrialemissionby10percentandcomparestrategiesonhowto allocate reductionresponsibilitiesacrosscities.Wefindthatconcentratingresponsibilityina limited numberofrichcitiesmayoutperformamoreequalallocationintermsofwelfareand economic output. |
| Keywords: | China, AirPollution, Domesticmigration, Spatialequilibriummodel, Environmental |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:jic:wpaper:211&r=all |
| By: | Emara, Noha; Zhang, Xiaojun; Liu, Shangchao |
| Abstract: | Using system panel GMM dynamic panel on a sample of nineteen MENA countries over the period 1990 – 2014, the study estimates the effect of financial stability on economic growth. Using the principal component analysis to create a composite index of financial stability consisting of a banking crisis dummy variable, the ratio of credit to government and state-owned enterprises to GDP, and the ratio of domestic credit to private sector as a percent of GDP, the estimation results show financial stability in the MENA region is important for boosting economic growth in the region. Furthermore, when dividing the sample between oil and non-oil exporters, the results suggests no statistically significant difference between the two groups in terms of the impact of financial stability on economic growth. Our results are robust to the use of different fixed effects and random effects estimation methodologies. |
| Keywords: | Financial Stability; Economic Growth; System GMM; Fixed Effects; MENA Countries |
| JEL: | N2 N25 O16 O40 |
| Date: | 2019–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:99312&r=all |
| By: | Handy, Susan |
| Abstract: | Californians live in a car-dominant society. Decades of transportation and land use planning practices have created communities in which driving is a virtual necessity to access most destinations. Personal vehicles provide mobility benefits, but they also have many negative financial, public health, environmental, and social impacts. Technological innovations such as vehicle electrification can lessen some, but not all, of these impacts. A more comprehensive approach is to shape communities in a manner that gives people viable options other than a personal vehicle—such as walking, bicycling, or transit—to get where they need to go. Researchers at UC Davis reviewed published studies to summarize the range of household- and community-level benefits that can be realized by reducing car dependence in California. This policy brief summarizes the findings of that work. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, Automobile travel, sustainable transportation, sustainable development, infill, automobile dependence |
| Date: | 2020–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt7js9s5jk&r=all |
| By: | Nikos Chatzistamoulou (AUEB); Phoebe Koundouri |
| Abstract: | By following a two-stage analysis, we explore whether resource efficiency measures are interconnected through feedback loops under heterogeneous eco-innovation regimes. In the first stage we adopt the bootstrap Data Envelopment Analysis and a Directional Distance Function approach to estimate productive performance, energy and environmental efficiency of each country under a metafrontier total factor productivity framework accounting for technological heterogeneity and input complementarities. In the second, we employ the potential of the identification through heteroskedasticity estimator to tackle endogeneity concerns surrounding performance measures, we seek the drivers of resource efficiency measures. We comprise a unique balanced panel for the EU-28 from 2010 through 2014 including the eco-innovation index and hand-collected data on the global competitiveness index. Findings indicate that resource efficiency measures despite those are interconnected through feedback loops, they act either as closely related measures i.e. blood brothers or as loosely related ones i.e. distant relatives. This is particularly relevant for policy design. In this line, findings indicate that there is not a one-size-fits-all policy as the eco-innovation group each country belongs to should be considered as well since the latter respond in an asymmetric manner to candidate drivers. |
| Keywords: | Resource Efficiency, Environmental & Energy Efficiency, Productive Performance, Eco-Innovation Index, Sustainability, Metafrontier & Heterogeneity, Feedback loop |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:2012&r=all |
| By: | Rahmani, Fatemeh; Quispe, David; Agarwal, Tanushree |
| Abstract: | Significant improvements of the DC-DC converters create the straightforward method to control the speed of the DC motor. One of the important DC motors is the Brushless DC motor which is utilized in various electrical fields. This paper focuses on the control at different speeds for a Brushless DC motor. In order to make the proper voltage to run the motor, two DC-DC converters (Boost and Buck) are tested using two different switches (GaN and SiC transistors). After making the Simulink model and connecting to dSPACE to send the suitable pulse to the transistor of the converter, the DC motor starts working by applying the DC voltage to the converter. This process includes modeling in MATLAB Simulink, dSPACE, and an experimental setup to run the DC motor. Furthermore, the performance of GaN and SiC switches in Boost and Buck converters are compared to each other in this project in terms of output parameters, efficiency, and providing the accurate speed for DC motor. |
| Keywords: | Boost converter, Brushless DC motor, Buck converter, GaN transistor, SiC transistor |
| JEL: | L63 L86 |
| Date: | 2020–03–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:99581&r=all |
| By: | Simonis, Udo E. |
| Abstract: | Zum Klimaschutz gibt es nicht nur den technischen Weg, die De-Karbonisierung der Wirtschaft, insbesondere die Energieoption. Es gibt auch den natürlichen Weg, die Re-Naturierung der Gesellschaft, insbesondere die Waldoption. Die ungleiche Beachtung, Bewertung und Anwendung dieser beiden zentralen Optionen in Theorie und Praxis der Klimapolitik haben unterschiedliche Gründe: solche informatorischer, konzeptioneller und macht- bzw. interessengeleiteter Art, aber auch solche wie Einfallslosigkeit, Fantasielosigkeit und Zukunftspessimismus. Die Informationsbasis verbessern, neue Konzepte entwickeln, Machtblockaden überwinden, Interessen kommender Generationen (der Jugend) ernstnehmen, einfallsreicher und fantasievoller werden, animierende Zukunftsszenarien entwickeln - dies sind die allgemeinen Schlussfolgerungen für die erforderliche Doppelstrategie der Klimapolitik. Die besonderen Schlussfolgerungen sind institutioneller Art. Es bedarf durchgreifender institutioneller Innovationen: auf der nationalen Ebene die Installation einer eigenständigen, starken Waldpolitik; auf der internationalen Ebene die explizite Einbindung der Doppelstrategie der Klimapolitik in die Umsetzung des Paris-Abkommens, die Fortentwicklung des UN-Forums für Wälder zu einer völkerrechtlich verbindlichen Wald-Konvention, die dem Schutz und der nachhaltigen Bewirtschaftung der vorhandenen Wälder, der Mehrung und dem Umbau der Wälder sowie dem fairen Vorteilsausgleich aus der Nutzung der Wälder gewidmet sein sollte. |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wzbeme:eme2019004&r=all |
| By: | Fuller, Sam; Brown, Austin |
| Keywords: | Law |
| Date: | 2020–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt0qm1f3d4&r=all |
| By: | Fagerberg, Jan (TIK, University of Oslo); Verspagen, Bart (UNU-MERIT, Maastricht University) |
| Abstract: | Technological revolutions, i.e., clusters of technologies that collectively have a transformational impact on the global economy, are rare events that dramatically influence the opportunities facing countries at different levels of development. A central suggestion in the relevant literature is that countries that manage to adopt the new technologies associated with a specific technological revolution benefit economically from it. This is also assumed to go together with a changing specialisation pattern in international trade. The paper considers the empirical merits of these suggestions, drawing on GDP and trade data for a large number of countries on different levels of development from the post-second-world-war period. The empirical analysis reveals a major divide in the global economy between a group of modern, industrialised countries, specialised in technology-based production, and another group of countries, specialised in commodities and resource-based products, and lagging behind both in terms of technology and income. More to the future, the paper also discusses the extent to which a new green technological revolution, with renewable energy as a central element, is currently emerging, and what impact this possibly might have for catching-up, structural change and economic growth for countries at different levels of development, e.g., China. |
| Keywords: | Technological revolutions, catching up, specialisation, renewable energy, China |
| JEL: | O10 O14 O30 O33 |
| Date: | 2020–03–30 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2020012&r=all |
| By: | Alvin Ang (Department of Economics, Ateneo de Manila University); Jeremaiah Opiniano (Institute for Migration and Development Issues) |
| Abstract: | Billion-dollar remittances from an estimated 10.3 million Filipinos in over-200 countries and territories will be a major economic lifeline for the Philippines, given today’s global pandemic due to SARS-CoV-2 and COVID-19. However, the new coronavirus and the resultant area quarantines and lockdowns are already as globally dispersed as the overseas Filipino population. Countries are now rolling out economic stimulus packages for citizens and critical economic sectors. Foreign workers like Filipinos will be affected by these economic disruptions. Add the prevailing drop of global oil prices and the looming global recession to these ongoing woes facing countries and the Philippine economy’s reliance on remittances. This paper projects two short-term trends that will affect Filipino overseas work and dollar remittances. One, cash remittances will visibly decline —from US$30 billion in 2019 to about US$ 24-to-27 billion this year (that being the steepest year-on-year decline of remittances in Philippine migration history). And two, about 300,000 to 400,000 overseas Filipino workers will be affected by lay-offs and salary cuts worldwide. The Philippines is the world’s most organized migration bureaucracy among migrant-origin countries. However, the COVID-19 pandemic may well be the most challenging crisis facing the responsive migration management system of the Philippines. |
| Keywords: | Overseas Filipinos, remittances, pandemic, COVID-19, The Philippines, recession |
| JEL: | E20 F01 F22 F24 F62 F66 |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:agy:dpaper:202005&r=all |
| By: | Maria Mercanti-Guérin (IAE Paris - Sorbonne Business School) |
| Abstract: | Cette recherche porte sur l'effet des bulles de filtre sur le changement climatique. Une étude utilisant un outil de Social Listening (écoute des réseaux sociaux) montre que la viralité des contenus climato-sceptiques est plus forte que la viralité des contenus alertant sur le changement climatique. Une expérimentation visant à créer une bulle de filtres sur ce sujet permet de mieux comprendre les mécaniques virales et sociales d'une bulle de filtres climato-sceptique. Abstract This research focuses on the effect of filter bubbles on climate change. A study using a Social Listening tool (listening to social networks) shows that the virality of climate-sceptic content is stronger than the virality of content alerting about climate change. An experiment aimed at creating a filter bubble on this subject allows a better understanding of the viral and social mechanics of a climate-sceptic filter bubble. |
| Keywords: | social media listening,RSE,changements climatiques,algorithmes de recommandation,médias digitaux,bulles de filtre |
| Date: | 2020–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02525299&r=all |
| By: | Francesco Lamperti; Valentina Bosetti; Andrea Roventini; Massimo Tavoni |
| Abstract: | Recent evidence suggests that climate change will significantly affect macro-economic growth and several productive elements of modern economies, such as workers and land [Dell et al., 2009, Burke et al., 2015, Carleton and Hsiang, 2016]. Although historical records indicate that economic shocks lead to financial instability, few studies have focused on the impacts of climate change on the financial system [Dietz et al., 2016, Dafermos et al., 2018]. This paper evaluates a global economy where multiple banks provide credit to production activities exposed to climate damages. We use an agent based climate-macroeconomic model calibrated on stylized facts, future scenarios and climate impact functions [Nordhaus, 2017] affecting labour and capital. Results indicate that climate change will increase the frequency of banking crises (+26-148%). The public costs of rescuing insolvent banks will cause an additional burden of about 5-to-15% of GDP per year, and an increase of public debt to GDP by a factor of 2. We estimate that around 20% of such effects are caused by the deterioration of banks' balance-sheets. Macroprudential regulation attenuates bailout costs, but only moderately. Our results show that leaving out the financial system from climate-economy integrated assessment may lead to an underestimation of climate impacts, and that financial regulation can play a role in mitigating them. |
| Keywords: | Climate Change; Climate Impacts; Financial Crises; Public Debt; Macroprudential Policy. |
| Date: | 2019–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2019/42&r=all |