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on Energy Economics |
| By: | Jean-Pierre Amigues (Toulouse School of Economics (INRA)); Ujjayant Chakravorty (Tufts University and Toulouse School of Economics); Gilles Lafforgue (Toulouse Business School); Michel Moreaux (Toulouse School of Economics) |
| Keywords: | Renewable energy mandates; Fossil fuels; Energy transition; Subsi- dies; Carbon tax |
| JEL: | Q42 Q48 Q54 |
| Date: | 2020–10 |
| URL: | http://d.repec.org/n?u=RePEc:fae:wpaper:2020.18&r=all |
| By: | ITF |
| Abstract: | This report reviews progress on technical standards for heavy vehicles that could enable trucks and buses with zero or near-zero emissions. It focuses on plug-in and fuel cell electric vehicles that use technologies at the forefront of green and inclusive economic development. It includes information on technical standards on charging and refueling infrastructure, and identifies remaining barriers and opportunities for their future development. The report offers valuable insights for all stakeholders involved in the transition to carbon-free mobility and clean energy. |
| Date: | 2020–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaac:77-en&r=all |
| By: | Javier Aliaga Lordemann (Full Fellow Member at ABCE); Alejandra Terán Orsini (Junior Researcher at INESAD) |
| Abstract: | This paper seeks to analyze the evolution of the Bolivian vehicle stock in the mid-term and its policy implications. First, we analyze the relationship between income and vehicle ownership in the country during the period 1970 - 2017 through robust econometric techniques. Based on these results, we use an energy-mix accounting model programmed in General Algebraic Modelling System (GAMS) to analyze how the vehicle fleet and the derived demand of gasoline, natural gas and diesel oil evolved over time. Finally, we observe the trajectory of CO2eq in the transport sector for different types of vehicle categories. Our results prove that the relationship between vehicle ownership and per capita income is highly non-linear and we observe an excessive increase in the vehicle fleet during the last decade. Both of these results will speed up the saturation level of the vehicle fleet in Bolivia. With more equivalented vehicles (EV) on the roads, we expect that the consumption of derivatives will increase over the next years. Hence, we assume imbalances in diesel oil and gasoline production and a lower decarbonization path. Without an energy policy in the transport sector or any energy efficiency measures, the consumption of derivatives would grow 6.9 times and the total emissions of CO2eq would increase 7.93 times in the 2000-2035 period. |
| Keywords: | Car ownership, integrated energy-transport modelling, energy-mix, emissions . |
| JEL: | H23 C25 L62 L9 O3 Q47 Q5 R4 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:adv:wpaper:202004&r=all |
| By: | Rickels, Wilfried; Proelß, Alexander; Geden, Oliver; Burhenne, Julian; Fridahl, Mathias |
| Abstract: | Under the European Union Emissions Trading System (EU ETS), operators must surrender allowances corresponding to the emissions of greenhouse gases (GHG) from their installations. The supply of allowances in the EU ETS decreases linearly and, all else equal, is expected to end around 2057. An earlier cut-off date is likely to follow from the European Council's recent decision that the EU should reach net-zero GHG emissions by 2050. Scenarios published by the European Commission even anticipate a net-negative cap in the EU ETS from 2045 onwards, generated through carbon dioxide (CO2) removals. Upholding emissions trading, in the long run, therefore entails significant use of credits resulting from atmospheric CO2 removal activities. However, in its current form, the ETS Directive does not contain any legal basis for generating CO2 removal credits. Integrating CO2 removal into the EU ETS would, thus, require fundamental amendments of the ETS Directive, waiving the currently mandatory association binding emitting activities to the adoption of emission abatement technologies. The next policy window for such amendments will open in 2021, following the decision on a more ambitious EU 2030 emission reduction target. This conceptual paper explores various design options for integrating negative emissions technologies (NETs) into the EU ETS. We discuss their potential implications for emissions trading at large and address the specificity of bioenergy with carbon capture and storage (BECCS); repealing the provision that installations exclusively using biomass are not covered by the ETS Directive, BE(CCS) installations could in principle fall within the scope of the ETS Directive. Theoretically, it would be possible to consider free allocation of biogenic credits to BE(CCS) installations. Bioenergy operators could avoid having to surrender these biogenic allowances through the use of CCS and instead sell them on the EU ETS market, having implicitly received credits for the removal of CO2 from the atmosphere. |
| Keywords: | European Emission Trading,Carbon Dioxide Removal,Negative Emission Technologies |
| JEL: | K33 Q54 Q58 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkwp:2164&r=all |
| By: | Asongu, Simplice; Vo, Xuan |
| Abstract: | There is a glaring concern of income inequality in the light of the post-2015 global development agenda of sustainable development goals (SDGs), especially for countries that are in the south of the Sahara. There are also concerns over the present and future consequences of environmental degradation on development outcomes in sub-Saharan Africa (SSA). This study provides carbon dioxide (CO2) emissions thresholds that should be avoided in the nexus between financial development and income inequality in a panel of 39 countries in SSA over the period 2004-2014. Quantile regressions are used as an empirical strategy. The following findings are established. Financial development unconditionally decreases income inequality with an increasing negative magnitude while the interactions between financial development and CO2 emissions have the opposite effect with an increasing positive magnitude. The underlying nexuses are significant exclusively in the median and top quantiles of the income inequality distribution. CO2 emission thresholds that should not be exceeded in order for financial development to continuously reduce income inequality are 0.222, 0.200 and 0.166 metric tons per capita for the median, 75th quantile and 90th quantile of the income inequality distribution, respectively. Policy implications are discussed with particular relevance to Sustainable Development Goals (SDGs). |
| Keywords: | Renewable energy; Inequality; Finance; Sub-Saharan Africa; Sustainable development |
| JEL: | H10 O11 O55 Q20 Q30 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:103233&r=all |
| By: | Fatica, Serena (European Commission); Panzica, Roberto (European Commission) |
| Abstract: | While green bonds are becoming increasingly popular in the corporate finance practice, little is known about their implications and effectiveness in terms of issuers' environmental engagement. Using matched bond-issuer data, we test whether green bond issues are associated to a reduction in total and direct (scope 1) emissions of non-financial companies. We find that, compared to conventional bond issuers with similar financial characteristics and environmental ratings, green issuers display a decrease in the carbon intensity of their assets after borrowing on the green segment. The decrease in emissions is more pronounced, significant and long-lasting when we exclude green bonds with refinancing purposes, which is consistent with an increase in the volume of climate friendly activities due to new projects. We also find a larger reduction in emissions in case of green bonds that have external review, as well as those issued after the Paris Agreement. |
| Keywords: | climate change, green bonds, impact investing, corporate sustainability, environment |
| JEL: | G12 Q50 Q51 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:jrs:wpaper:202010&r=all |
| By: | Santosh Kumar Sahu (Assistant Professor, Madras School of Economics); Arjun Shatrunjay (Madras School of Economics) |
| Abstract: | The paper attempts to understand the significance of the Green Solow Model, in the context of a developing country such as India. It gives particular importance to the role of population density, in understanding the drawbacks of the Green Solow Model. It further extends the argument to analyse the impacts of the emission regulations on a developing country, by proving relationship between price level on one hand, and abatement costs and emissions on the other. Lastly, interactions between countries, given different price scenarios are studied. |
| Keywords: | Green Solow Model, abatement costs, technology, emission regulations, India |
| JEL: | C70 O44 Q52 Q56 |
| URL: | http://d.repec.org/n?u=RePEc:mad:wpaper:2016-160&r=all |
| By: | Zareena Begum Irfan (Associate Professor, Madras School of Economics); Divya Jain,; Ashwin Ram; Satarup Rakshit |
| Abstract: | Due to rapid economic expansion, India has one of the world's fastest growing energy markets and is expected to be the second-largest contributor to the increase in global energy demand by 2035, accounting for 18% of the rise in global energy consumption. Household sector is one of the largest users of energy in India, counting for about 30 per cent of final energy consumption (excluding energy used for transport) reflecting the importance of that sector in total national energy scenario. The pattern of household energy consumption represents the status of welfare as well as the stage of economic development. Household energy consumption is expected to increase in future along with growth in economy and rise in per capita incomes. This paper analysis the manifold aspects of anthropogenic activities with focus on household characteristics influencing the residential carbon dioxide emissions. Data on expenditure incurred for purchase used for both indoor and outdoor use as well as the socio-economic indicators have been taken into account to estimate their contribution to the level of emissions. The various indicators of household expenditure have been categorized separately under technological innovations, affluence, household demographics, biophysical characteristics and control variables. The theories of Ecological Modernization, Political Economy and Human Ecology have been highlighted to discuss the significance of household energy consumption pattern. Household income in India has increased considerably in line with economic growth over the last decades. In this study, household data has been extracted from India Human Development Survey- II (IHDS – II), 2011- 12 which is a cross sectional survey conducted by ICPSR 36151. The expenditures on energy consumption and emission factors are to a great extent influenced by the factors that are beyond the control of humans such as development trends regarding urban forms and infrastructure. In this study we have used household data which makes it an expanding literature to anthropogenic environmental degradation |
| Keywords: | urbanization, carbon emission, ecological modernization, energy consumption, economic expansion, human ecology, political economy |
| JEL: | C01 O31 Q4 Q55 Q18 R21 |
| URL: | http://d.repec.org/n?u=RePEc:mad:wpaper:2016-169&r=all |
| By: | Littlechild, S. |
| Abstract: | Online consumer reviews are now widely used and influential. Trustpilot is a relatively new but rapidly growing consumer review website. It is by far the most used review website in UK retail energy supply sector. This paper provides some background and insight into how Trustpilot works, how it is used in that sector, and for comparison in three other sectors (supermarkets, banking and mobile phones), and how this usage has evolved over 2019 and 2020. There is great variation in usage of Trustpilot both within and between sectors. Trustpilot was least used by supermarkets and their customers, and most by energy suppliers and customers. Many aspects of usage, including numbers of Trustpilot domains claimed by companies, invitations to review, reviews and responses to reviews, have increased over 2019-20, although not evenly. Former incumbent companies typically make less use of Trustpilot in all four sectors, and have lower TrustScores than entrants. However, five of the six Large energy suppliers have made significantly increased use of Trustpilot over 2019-20, and their TrustScores have increased. Detailed examination of Trustpilot use by ten energy suppliers explains how inviting Trustpilot reviews enables them to improve customer service as well as increase TrustScores. A final pair of comparisons shows that companies advising UK customers on energy supply score highly on Trustpilot, and make active use of it. In contrast, voluntary and regulatory organisations in the UK energy sector and their customers make little use of it, and these organisations have very low TrustScores. |
| Keywords: | Online reviews, customer satisfaction, customer feedback, Trustpilot, retail energy market, supermarkets, banks, mobile phone providers |
| JEL: | L15 L84 L94 |
| Date: | 2020–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2086&r=all |
| By: | Magnus Ericsson; Olof Löf |
| Abstract: | The first objective of this paper is to update earlier assessments of mineral dependence in lower-income countries. In 2018, the mining of metals and coal continued to be an important contributor to the economies of several low- and middle-income countries. As in our previous calculations of the Mining Contribution Index, African countries in particular benefit from this fact. When oil and gas are also included in estimates of export dependence on extractive industries, a number of new countries appear among those with the greatest dependence?again mostly African countries. |
| Keywords: | Extractives, low-carbon future, Mining, Oil |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp-2020-120&r=all |
| By: | Mehling, M.; Ritz, R. |
| Abstract: | As part of its Green Deal, the European Union is currently preparing a “Carbon Border Adjustment Mechanism” (CBAM). A CBAM applies carbon pricing to imports with the objective of mitigating concerns about carbon leakage. To reduce complexity, it is likely the EU will rely on “default” values in determining the carbon intensity of imports to which its CBAM will apply. In this paper, we suggest that a CBAM based solely on default intensities runs counter to the economic logic of carbon pricing by distorting the incentives for emissions abatement. Instead we propose a CBAM design with a voluntary “individual adjustment mechanism” (IAM) that allows producers to demonstrate that their actual carbon intensity lies below the default value. We argue that the use of an IAM captures additional economic benefits of carbon pricing—notably providing more efficient abatement incentives—and improves the overall legal prospects of a CBAM being found to comply with international law and WTO rules. We discuss practical considerations around the implementation of an IAM, and illustrate with a short case study on the steel sector. |
| Keywords: | Border carbon adjustment, carbon pricing, Green Deal, international law, international trade |
| JEL: | H23 K33 Q54 |
| Date: | 2020–09–16 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2087&r=all |
| By: | Ordoñez, Pablo J. |
| Keywords: | Resource/Energy Economics and Policy, International Development |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304284&r=all |
| By: | Fateh Belaid (Lille Catholic University) |
| Abstract: | This article, using ERF-LIS harmonized microdata, develops an empirical model to investigate the unexplored extent and fuel poverty explanatory factors in Egypt and Jordan. First, we use the “Low income – High Consumption” indicator to measure the fuel poverty extent. Second, we implement a multivariate statistical approach to untangle the fuel poor household profile. Then,to explore the factors driving the risk of falling into fuel poverty situations we use a logistic regression model. This research is an important empirical contribution to the sparse literature of fuel vulnerability in MENA countries. It puts forward an empirical approach, which is helpful in discerning and targeting families most in need of energy and financial related assistance. From policy perspectives, the findings provide promising ways of accounting for the fuel poverty phenomenon as a vector of inequality trends in the MENA region. The main findings of the research point to the crucial instrumental role of economic conditions, reducing inequalities and access to education facilities in attenuating fuel poverty in Egypt and Jordan. Policies that mitigate fuel poverty may thus have direct impacts on both well-being and inequalities reduction. |
| Date: | 2020–04–20 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1392&r=all |
| By: | Ibrahim A. Elbadawi (Economic Research Forum); Samir Makdisi |
| Abstract: | This paper reviews the development experiences of the six GCC countries, which managed to avoid the explicit consequences of the resource curse. This seems to defy the prediction of the received literature for resource endowed societies that lack political institutions for ensuring inclusiveness and accountability in managing the resource rents. We subscribe to the argument that the unusually high rents per capita of the scale available for the GCC seems to have been associated with a developmental, if non-democratic, political equilibrium. However, the dependence of the GCC political set and consequently its development model, on the availability of exorbitantly high rents per capita, is likely to complicate the prospects for future sustainability, particularly under the new emerging ‘global oil order’, which is expected to be characterized by an eventual low oil price equilibrium. |
| Date: | 2020–01–20 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1382&r=all |
| By: | Lutz Kilian |
| Abstract: | This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand elasticities and of incorporating this information into structural VAR models. I not only summarize the state of the literature, but also draw attention to a number of econometric problems that have been overlooked in this literature. Once these problems are recognized, seemingly conflicting conclusions in the recent literature can be resolved. My analysis reaffirms the conclusion that the one-month oil supply elasticity is close to zero, which implies that oil demand shocks are the dominant driver of the real price of oil. The focus of this paper is not only on correcting some misunderstandings in the recent literature, but on the substantive and methodological insights generated by this exchange, which are of broader interest to applied researchers. |
| Keywords: | oil supply elasticity, oil demand elasticity, IV estimation, structural VAR, Bayesian inference, oil price, gasoline price |
| JEL: | Q43 Q41 C36 C52 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8567&r=all |
| By: | Amor Aniss Benmoussa; Reinhard Ellwanger; Stephen Snudden |
| Abstract: | We propose a new no-change benchmark to evaluate forecasts of series that are temporally aggregated. The new benchmark is the last high-frequency observation and reflects the null hypothesis that the underlying series, rather than the aggregated series, is unpredictable. Under the random walk null hypothesis, using the last high-frequency observation improves the mean squared prediction errors of the no-change forecast constructed from average monthly or quarterly data by up to 45 percent. We apply this insight to forecasts of the real price of crude oil and show that a new benchmark that relies on monthly closing prices dominates the conventional no-change forecast in terms of forecast accuracy. Although model-based forecasts also improve when models are estimated using closing prices, only the futures-based forecast significantly outperforms the new benchmark. Introducing a more suitable benchmark changes the assessments of different forecasting approaches and of the general predictability of real oil prices. |
| Keywords: | Econometric and statistical methods, International topics |
| JEL: | C53 Q47 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocawp:20-39&r=all |
| By: | Zhumadilov, Daniyar |
| Keywords: | Resource/Energy Economics and Policy, Agribusiness, Production Economics |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304289&r=all |
| By: | Kamiar Mohaddes (University of Cambridge); Mehdi Raissi (International Monetary Fund); Niranjan Sarangi (United Nations Economic and Social Commission for Western Asia (ESCWA)) |
| Abstract: | We develop a quarterly macro-econometric model for the Saudi economy over the period 1981Q2- 2018Q2 and integrate it within a compact model of the world economy (including the global oil market). This framework enables us to disentangle the size and speed of the transmission of growth shocks originating from the United States, China and the world economy to Saudi Arabia, as well as study the implications of stress in global financial markets, low oil prices and domestic fiscal adjustment on the Saudi economy. Results show that Saudi Arabia's economy is more sensitive to developments in China than to shocks in the United States—in line with the direction of evolving trade patterns and China's growing role in the global oil market. A global growth slowdown (e.g., from trade tensions or geopolitical developments) could have significant implications for Saudi Arabia (with a growth elasticity of about 2½ after one year) and the oil market (reducing prices by about 5 percent for 0.5 percentage point reduction in global growth). We also illustrate that a 10 percent lower oil prices and stress in global financial markets could both have a negative effect on the Saudi economy, but given the prevailing social contract in Saudi Arabia, their impact is countered by fiscal easing. Finally, we argue that a domestic fiscal adjustment in Saudi Arabia does not show a negative impact on economic growth in the data. The impact on growth would depend upon the quality of fiscal adjustment and whether it is complemented with structural reforms or not. |
| Date: | 2020–04–20 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1388&r=all |
| By: | Till Fust |
| Abstract: | This study contributes to the understanding of the enabling role that venture capitalists can play in bringing new innovative technologies to market, with a focus on clean energy technologies. Applying the structural model introduced by Sorensen (2007) that allows to control for a potential sorting bias, I estimate the influence of venture capital investor's social capital on startups' funding and exit performance, with social capital de ned as the investors' eigencentrality and constraint within the network of investors. Looking at startups' first venture capital funding rounds in California between 2001 and 2019, this study finds a positive and significant influence of the lead investor's eigencentrality on the funding amount raised and the exit probability of the firm. Furthermore, a less constrained lead investor also increases the chance of the startup's eventual exit. But no differentiated effect for cleantech startups compared to other industries is found. |
| Keywords: | Venture Capitalists;CleanEnergy; Clean Technologies; Startups; Capital Funding; Cleantech startup |
| JEL: | O14 O33 Q41 Q42 |
| Date: | 2020–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:gii:ciesrp:cies_rp_06&r=all |
| By: | Hannah Goozee (IPC-IG) |
| Abstract: | "The seventh goal of the Sustainable Development Goals (SDGs) is dedicated to ensuring access to affordable, reliable, sustainable and modern energy for all by 2030. While energy was only implicit in the Millennium Development Goals (MDGs), the SDGs emphasise the direct linkage between household energy access and consumption and poverty and development. This attention is closely related to the expanded understanding of poverty, as it moves beyond a monetary definition, to be seen as a holistic measure of overall quality of life". (...) |
| Keywords: | Energy, poverty, Sustainable Development Goals |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipc:oparab:351&r=all |
| By: | Charles Raux (LAET - Laboratoire Aménagement Économie Transports - UL2 - Université Lumière - Lyon 2 - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique); Éric Charmes (RIVES - Laboratoire de Recherches Interdisciplinaires Ville, Espace, Société - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique); Lény Grassot (LAET - Laboratoire Aménagement Économie Transports - UL2 - Université Lumière - Lyon 2 - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique); Marie Sévenet (EIFER - European Institute For Energy Research - TH - Universität Karlsruhe - EDF R&D - EDF R&D - EDF - EDF); Mindjid Maizia (CITERES - Cités, Territoires, Environnement et Sociétés - Université de Tours - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Le projet PERITHEL vise à définir ce que pourraient être les organisations spatiales et les configurations urbaines souhaitables – ou du moins, acceptables –, aux plans économique, social et environnemental, en tenant compte : des impacts environnementaux, et notamment les émissions de gaz à effet de serre, liés à la mobilité des personnes, mobilité qui doit tenir compte de la localisation des ménages et des coûts supportés par les ménages pour leurs mobilités et leur logement. Ces questions sur les formes urbaines durables sont inscrites dans des échelles temporelles et spatiales bien définies : • deux échelles de temps long. Un horizon 2030 d'une part, et 2050 d'autre part, horizon du « facteur 4 » ; • l'échelle spatiale des territoires étudiés : agglomérations de Lyon, Strasbourg et Mulhouse, ainsi que leurs territoires périurbains. Au plan empirique mais aussi prospectif, le projet simule divers scénarios de formes urbaines contrastées définies dans le cadre du projet. |
| Keywords: | Projet PERITHEL,Formes urbaines,Scénarios,Lyon,Strasbourg,Mulhouse,Mobilité,Formes périurbains,Configurations spatio-fonctionnelles |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-02936767&r=all |
| By: | Bruno Bosco |
| Abstract: | The purpose of this paper is to offer an analysis of the price behavior of Phase III (2013–2020) EU- ETS emission allowances of CO2, by focusing on the dynamics of daily auction equilibrium prices and on the changes of the volatility of the underlying stochastic process. The paper initially investigates the characteristics of equilibrium prices as they result from auction rules and bidders' behavior and uses them as a theoretical basis of the statistical hypothesis–common to the empirical literature active in this field– of a changing conditional variance of prices. Then, different versions of a GARCH model are employed to estimate both mean and variance equations of price dynamics and to evaluate what factors affect price volatility, recorded excess supply, and bidders’ surplus. Brief policy considerations are also offered. |
| Keywords: | EU-ETS emission auctions; Equilibrium prices volatility; GARCH |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:mib:wpaper:448&r=all |
| By: | Jacques Percebois (UMR ART-Dev - Acteurs, Ressources et Territoires dans le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - UM3 - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique); Boris Solier (UMR ART-Dev - Acteurs, Ressources et Territoires dans le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - UM3 - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Le mécanisme de l'ARENH (accès régulé à l'énergie nucléaire historique), qui consiste depuis 2011 à permettre aux fournisseurs alternatifs d'acquérir 100 TWh d'électricité nucléaire au prix régulé de 42 euros le MWh, est aujourd'hui contesté. Les fournisseurs alternatifs souhaitent relever le plafond de l'ARENH à 150 TWh, tandis qu'EDF demande que le prix de l'ARENH soit revalorisé bien au-delà de son niveau actuel. Les pouvoirs publics ont soumis début 2020 un projet au débat public qui prévoit de remplacer ce système d'ARENH par un mécanisme du type « corridor » de prix. La totalité de l'électricité nucléaire serait acquise au prix du marché de gros par l'ensemble des fournisseurs (EDF fournisseur compris) et des compensations financières seraient opérées ex post entre EDF producteur de nucléaire et les fournisseurs alternatifs lorsque le prix du marché se situe au-dessous d'un prix plancher ou au-dessus d'un prix plafond. L'objet de cet article est de rappeler l'évolution du mécanisme de l'ARENH, d'en expliquer les critiques et les faiblesses ; c'est ensuite d'analyser le nouveau mécanisme proposé par la CRE, d'en mesurer les conséquences pour les opérateurs comme pour le consommateur final ; c'est enfin de suggérer quelques recommandations. |
| Keywords: | Régulation,Nucléaire,ARENH,Marché de l'électricité |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02942109&r=all |
| By: | Ramelli, Stefano (University of Zurich); Ossola, Elisa (European Commission); Rancan, Michela (Universita Politecnica delle Marche) |
| Abstract: | The First Global Climate Strike on March 15, 2019 has represented a historical turn in climate activism. We investigate the cross-section of European stock price reactions to this event. Looking at a large sample of European firms, we find that the unanticipated success of this event caused a substantial stock price reaction on high-carbon intensity companies. These findings are likely driven by an update of investors' beliefs about the level of environmental social norms in the economy and the anticipation of future developments of climate regulation. |
| Keywords: | climate risks, stock returns, event study, environmental preferences, sustainable finance, investor attention |
| JEL: | Q01 G14 G23 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:jrs:wpaper:202003&r=all |
| By: | Ta, Chi L. |
| Keywords: | Resource/Energy Economics and Policy, Institutional and Behavioral Economics |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304245&r=all |
| By: | Renato Gomes (Toulouse School of Economics, 1, Esplanade de l’Université, 31080, Toulouse, France); Andrea Mantovani (Toulouse Business School, 1, Place Alphonse Jourdain, 31068, Toulouse, France) |
| Abstract: | Online marketplaces, such as Amazon, or online travel agencies, such as Booking.com, greatly expand consumer information about market offers, but also raise firms’ marginal costs by charging high commissions. To prevent show-rooming, platforms adopted price parity clauses, which restrict sellers’ ability to offer lower prices in alternative sales channels. Whether to uphold, reform, or ban price parity has been at the center of the policy debate, but so far little consensus has emerged. In this paper, we investigate a natural alternative to lifting price parity; namely, we study how to optimally cap platforms’ commissions. The optimal cap reflects the Pigouvian precept according to which the platform should not charge fees greater than the externality that its presence generates on other market participants. Employing techniques from extreme-value theory, we are able to express the optimal cap in terms of observable quantities. In an application to online travel agencies, we find that current average fees are welfare increasing only if platforms at least double consumers’ consideration sets (relative to alternative ways of gathering information online). This suggests that, in some markets, regulation capping commissions should bind if optimally set. |
| Keywords: | platforms, price parity, regulation, commission caps, extreme value theory. |
| JEL: | D83 L10 L41 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:net:wpaper:2009&r=all |
| By: | Bédia François AKA |
| Abstract: | Plusieurs travaux se sont intéressés à la mesure des inégalités en Côte d’Ivoire, mais très peu concernent les facteurs explicatifs ou les variables motrices des inégalités, ainsi que leur contribution quantitative aux inégalités dans ce pays. Cette étude utilise la méthode de décomposition de l’inégalité basée sur les régressions pour analyser les inégalités en Côte d’Ivoire à partir de données d’enquêtes ménages. En effet, cette méthode permet de quantifier la contribution d’un ensemble de facteurs à l’inégalité, tout en prenant en compte les corrélations entre eux. Nous utilisons l’approche de décomposition de Shapley. Dans l’ensemble, les facteurs contributifs qui expliquent la plus grande proportion de l’inégalité en 2008 sont l’accès à l’eau potable, l’éducation, le milieu de résidence (urbain ou rural), la situation professionnelle et l’accès à l’électricité. En 2015, les facteurs sont essentiellement l’accès à l’eau potable, l’éducation, le type de logement et le milieu de résidence. Ces résultats indiquent que les facteurs déterminants dans l’explication des inégalités en Côte d’Ivoire n’ont pas variés et restent essentiellement l’accès à l’eau potable, l’éducation, l’accès à l’électricité, le type de logement et le milieu de résidence. Les politiques économiques de lutte contre les inégalités devraient donc se focaliser sur l’accès aux infrastructures de base (eau potable et électricité), l’éducation, l’emploi et le logement et cibler les milieux de résidence les plus défavorisés. |
| Keywords: | Côte d'Ivoire |
| JEL: | Q |
| Date: | 2020–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:avg:wpaper:fr11521&r=all |
| By: | Laurent Cabotte (CEPN - Centre d'Economie de l'Université Paris Nord - USPC - Université Sorbonne Paris Cité - Université Sorbonne Paris Nord - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Est proposé ici un complément au modèle néoclassique d'unité de production dans sa partie contraintes techniques. Grâce à la définition de chaque bien produit comme un assemblage de biens intermédiaires et au repositionnement de la fonction de production au niveau d'une production intermédiaire, il lui permet d'atteindre un ensemble de production pluri-outputs formé d'ensembles mono-output eux-mêmes constitués d'ensembles de productions intermédiaires et de mettre ainsi en avant une contrainte d'harmonisation des productions intermédiaires en tant que seconde dimension de l'efficacité technique de la production d'un output. Grâce, en plus, à la définition de chaque production intermédiaire comme une fonction d'un input-travail, d'un input-capital et d'un input énergie et à l'explicitation de cette fonction comme le produit de l'input-travail et de sa productivité du travail, elle-même définie comme une fonction du degré de mécanisation de la production, lui-même défini comme le rapport à l'input-travail d'une variable exprimant le travail du capital, à son tour définie comme une fonction de l'input-travail et de l'input-capital et l'input-énergie, il lui permet d'expliquer complètement la convexité de l'ensemble de production. |
| Keywords: | microéconomie,ensemble de production,fonction de production |
| Date: | 2020–09–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02941604&r=all |
| By: | Lanshina, Tatiana (Ланьшина, Татьяна) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The mechanisms of regulation and support of RES in Russia and abroad have been investigated, proposals have been developed for the implementation of a policy in the field of RES for the period from 2025 to 2035, taking into account the best world experience and the characteristics of the Russian energy industry. The results of the study provide recommendations for the period up to 2035. |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:052011&r=all |
| By: | Kwon, Ohyun (School of Economics LeBow College of Business Drexel University); Zhao, Hao (Chapman University); Zhao, Min Qiang (MOE Key Laboratory of Econometrics) |
| Abstract: | This paper finds that both importing and exporting can effectively reduce firm-level emission intensities. In our theoretical contribution, we develop a model in which firms endogenously determine whether or not to import foreign intermediate inputs and the extent of investment in emissions abatement. The model shows that the complementarity between import and abatement decisions reduces firm-level emission intensities when firms import foreign intermediate inputs. In our empirical contribution, we estimate a theory-guided regression model using Chinese firm-level data on emissions and trade. Our IV regression results show that when a firm starts importing, its emission intensities drop by approximately 30% across the types of emissions that we study. The estimate of the export margin, despite being statistically significant in the OLS results, appears to be more sensitive to regression specification in the IV results and is lower in magnitude than that of the import margin |
| Keywords: | International trade; Emissions; China |
| JEL: | D22 F18 Q56 |
| Date: | 2020–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:drxlwp:2020_013&r=all |