|
on Energy Economics |
| By: | Kaumudi Misra (Institute for Social and Economic Change) |
| Abstract: | This paper attempts to analyse the relationship between economic growth and carbon emissions in India. The parameters selected for understanding this relationship are GDP (as a proxy of economic growth) and CO2 emissions for the period 1970-2012. The study includes other important parameters such as energy consumption (oil) and urbanisation. Granger causality is used to check the existence of unidirectional and bi-directional causalities between the variables. The results reveal that there exists a unidirectional causality from energy consumption and GDP to carbon emissions. The ARDL model is used to understand the long run and short run relationship between the variables. The study finds that there exists a long run relationship between the variables whereas in the short run, there is no relationship between the variables. The findings imply that any attempt at reducing carbon emissions without bringing in energy efficiency will adversely affect the economic growth of the country. |
| Keywords: | Economics; Consumption; Urbanization |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sch:wpaper:447&r=all |
| By: | Sabine Garabedian; Avotra Narindranjanahary; Olivia Ricci; Sandrine Selosse (CMA - Centre de Mathématiques Appliquées - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres) |
| Abstract: | Reunion Island, similar to most insular regions, is ruled by a carbon-based economy that is heavily dependent on fossil fuels. In recent years, the energy transition towards a low-carbon economy has become the watchword of this French overseas region, with the objective of a 100% renewable energy mix by 2030. Reducing fossil fuel use while maintaining economic growth is an important issue for all countries but is even more important for island territories with structural and geographical handicaps. Energy transition and drastic greenhouse gas emission reductions represent costs and opportunities that need to be quantified. This research paper assesses the environmental and macroeconomic effects of the carbon price policy introduced in France to meet the target of the Paris Agreement. The acceptability of the tax significantly depends on the possibility of recycling tax revenues. Different schemes for recycling tax revenues are considered in simulations. The methodology used is a computable general equilibrium (CGE) model for Reunion Island (GetRun-NRJ) that takes into account all island specificities. The results show that the carbon tax enables substitutions between fossil and renewable energy production and reduces CO 2 emissions. However, the tax has negative effects on the aggregate economy. The implemented tax revenue recycling compensation mechanisms mitigate the negative impacts, but the results differ significantly, as the recycling schemes do not support the same economic actors. |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03023346&r=all |
| By: | Ibrahim A. Adekunle (Olabisi Onabanjo University, Ago-Iwoye, Nigeria); Isiaq O. Oseni (Olabisi Onabanjo University, Ago-Iwoye, Nigeria) |
| Abstract: | It is expected that fuel subsidy removal should hinder carbon emissions growth through low energy consumption channels amid higher energy prices. However, outliers in this theoretical disposition make empirical proof of the fuel subsidy-carbon intensity apt and primitive. Despite established fuel subsidy abolishment gains for climate and economic welfare, the relevance, magnitude and policy implications remain dimly. This paper employs the non-linear autoregressive distributed lag (NARDL) estimation procedure to gauge the contemporaneous influence of fuel subsidy for carbon intensity in Nigeria. Findings revealed that fuel subsidy removal inversely relates to Nigeria's carbon emission in the short-run and long run. The study recommends complementary policy option that ensures additional financial savings to the government should be invested in public sector growth that can cushion the effect of relative income loss to the citizenry. The Nigerian government should ensure measures are kept in place to discourage over-consumption of alternative energy (for example, coal) that could also threaten the green economy paradox. |
| Keywords: | Fuel Subsidy, Carbon Emission, Non-linear ARDL, Nigeria |
| JEL: | C22 E31 N57 Q54 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:21/001&r=all |
| By: | Andreas Dietrich; Christian Furtwängler; Christoph Weber (Chair for Management Sciences and Energy Economics, University of Duisburg-Essen (Campus Essen)) |
| Abstract: | The integrated provision of energy among various energy sectors plays an important role in the process of decarbonisation of large energy systems. An important pillar is thereby the decarbonisation of the heat sector, where nowadays still a large percentage of heat supply originates from high-emission fossil fuels like coal or oil. In Central Europe, combined heat and power (CHP) plant applications, e.g. in local district heating networks, represent established methods to provide both electricity and heat at the same time, lowering overall fuel demands and lowering concomitant emissions. Heat pumps, converting electricity into heat, are also increasingly adopted by commercial (and household) customers. However, the optimal marketing and production scheduling of the heat and power- providing portfolios under price uncertainty is a challenging and often complex task. The importance of proper uncertainty handling is underscored even more if the optimal dispatch of flexible technologies like storages needs to be considered. In this paper, we propose an enhanced multi-stage stochastic programming model for coordinated bidding in two sequential markets, namely the one-hour and the fifteen-minute electricity products in the German (day-ahead) spot market. Our study develops and applies a stochastic mixed-integer linear programming model for a virtual power plant, acting as a price taker in the mentioned electricity markets. The model determines the optimal bidding strategies for a heterogeneous portfolio of small gas-fired motor- CHP units, heat pumps, electric storage heaters and battery storage systems. Thereby, we introduce a novel approach to construct piece-wise linear bidding curves for these markets, choosing their supporting points based on the simulated price paths. For the evaluation of the benefits of decision-making by help of stochastic modelling and optimization with different scenario numbers, we develop a new concept, the Benefit of Stochastic Optimization (BSO) and reflect and contrast our results with the computational burden of stochastic simulation, using the example of a real-world portfolio. We find that stochastic optimisation is a valuable optimisation method that may inform and improve individual marketer’s decision-making processes. However, the observable additional benefits, i.e. compared to deterministic point forecasts, are limited in the investigated cases, while computational expensiveness increases significantly when adding further scenarios. |
| Keywords: | stochastic optimization, combined heat and power, virtual power plant, value of stochastic simulation |
| JEL: | C32 C61 L94 |
| URL: | http://d.repec.org/n?u=RePEc:dui:wpaper:2003&r=all |
| By: | Pierpaolo Grippa; Samuel Mann |
| Abstract: | This paper explores three possible transmission channels for transition risk shocks to the financial system in Norway. First, we estimate the direct firm-level impact of a substantial increase in domestic carbon prices under severe assumptions. Second, we map the impact of a drastic increase in global carbon prices on the domestic economy via the Norwegian oil sector. Third, we model the impact of a forced reduction in Norwegian oil firms’ output on shareholder portfolios. Results show that such a sharp increase in carbon prices would have a significant but manageable impact on banks. Finally, the paper discusses ways to advance the still evolving field of transition risk stress testing. |
| Keywords: | Carbon tax;Oil sector;Oil, gas and mining taxes;Oil prices;Greenhouse gas emissions;Climate change,transition risk,carbon emissions,carbon price,environmental policy,asset pricing,financial stability,WP,balance sheet approach,emissions data,low-carbon economy,enterprise value |
| Date: | 2020–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2020/232&r=all |
| By: | Maya Papineau (Department of Economics, Carleton University); Kareman Yassin (Department of Economics, University of Ottawa); Guy Newsham; Sarah Brice |
| Abstract: | We implement a conditional demand analysis (CDA) using a large dataset of electricity consumers in a Canadian province with a high market share of electric heating technologies. In doing so we also provide a unifying review of the breadth of interdisciplinary applications of CDA, beginning from the earliest studies up to the present, and test for evidence of unobservable variable bias from random effects panel data estimators. We find that local (i.e. minisplit) heat pumps and thermostat setbacks show the largest electricity savings. Central heat pumps generally do not save heating electricity compared to electric baseboards, and exhibit higher cooling season consumption compared to local heat pumps. We also observe a consistent decline in electricity consumption for newer homes, with the largest effects in the post-2010 period. Our results can inform research to identify promising technologies that support a shift towards large-scale electrification and decarbonization of energy end-uses, on the basis of robust statistical analysis utilizing realized household consumption data. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:car:carecp:20-21&r=all |
| By: | Alexander Huurdeman |
| Keywords: | Energy - Energy Markets Energy - Energy Trade Energy - Energy and Natural Resources Energy - Oil & Gas Energy - Renewable Energy |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:33669&r=all |
| By: | Aleksandar Zaklan |
| Abstract: | This paper tests the independence property under the Coase Theorem in a large multinational cap-and-trade scheme for greenhouse gas emissions, the EU Emissions Trading System (EU ETS). I analyze whether emissions of power producers regulated under the EU ETS are independent from allowance allocations, leveraging a change in allocation policy for a difference-in-differences strategy. The evidence suggests that the independence property holds overall and for larger emitters. It fails for small emitters, indicating that transaction costs distort their emission decisions. However, due to their small share of aggregate emissions the independence property remains intact at the sector level. |
| Keywords: | Coase theorem, independence property, cap-and-trade, EU ETS, greenhouse gas emissions |
| JEL: | Q58 Q54 Q52 L94 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1925&r=all |
| By: | Rahul Srinivasan; Debabrata Chattopadhyay |
| Keywords: | Energy - Electric Power Energy - Energy Demand Energy - Energy Policies & Economics |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:33168&r=all |
| By: | Christa N. Brunnschweiler; Steven Poelhekke |
| Abstract: | Does institutional change in the petroleum sector lead to more oil and gas ex-ploration and discoveries? Foreign ownership and investment in the sector has tra-ditionally been unrestricted. We document that this is no longer the case; foreign-domestic partnerships are the norm today. Tracking changes in legislation between 1867 and 2008 for a panel of countries, we show that switching to foreign ownership results in more drilling and more discoveries of petroleum than domestic ownership. Switching to partnership yields even more drilling, but yields fewer discoveries. Dis¬coveries, and the intensity and quality of exploration drilling, are endogenous to industry-specific institutional change. |
| Keywords: | discoveries, oil and gas, natural resources, institutions |
| JEL: | E02 O43 Q30 |
| Date: | 2019–05–09 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:219&r=all |
| By: | World Bank |
| Keywords: | Public Sector Development - Regulatory Regimes Energy - Electric Power Energy - Energy Policies & Economics Energy - Energy Sector Regulation Energy - Renewable Energy Energy - Solar Energy |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:33255&r=all |
| By: | World Bank |
| Keywords: | Energy - Electric Power Energy - Energy Policies & Economics Energy - Energy Trade |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:34158&r=all |
| By: | Rania Hentati-Kaffel (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Alessandro Ravina (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper assesses the impact of low-carbon policy on stock returns by means of an environmental extension of Fama and French's (2015) five factor model. This paper makes four major contributions. Firstly, for the first time a factor, GMC (green minus carbon), meant to provide the premium which results from not paying a carbon price is constructed. The GMC factor is obtained by means of a sample of 182 firms from 19 European countries operating in 35 sectors: from January 2008 to December 2018 the value-weight returns of 91 firms regulated by the 2003/87/CE directive are subtracted from the value-weight returns of 91 firms exempted by the 2003/87/CE directive upon which the EU-ETS is based. Secondly, we provide evidence that the addition of the GMC factor improves the performance of the 5 factor model in Europe in the 2008-2018 time span. Thirdly, results show that there is a high green premium rather than a carbon premium as it was asserted by parts of the literature, and that this green premium is highly statistically significant. Fourthly, after performing a carbon stress test, we show the effects of EU-ETS average price shocks on both carbon and green firms for each market cap tranche. |
| Keywords: | Low-carbon transition risks,EU-ETS,CO2 emissions,asset pricing model,green premium |
| Date: | 2020–02–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:hal-03045804&r=all |
| By: | Xun Xu; Tianduo Peng (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | After decades of rapid economic development, China is quickly becoming the world’s second-largest transport energy consumer. Recently, it has also surpassed the United States (U.S.) as the world’s largest oil importer, and it is expected to become the largest oil consumer by the early 2030s. |
| Keywords: | Chinese Economy, Dematerialization, Economic Structural Change, Freight Transport Energy Demand |
| Date: | 2021–01–06 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2020-dp26&r=all |
| By: | Nicoletta Batini; Ian Parry; Philippe Wingender |
| Abstract: | Denmark has a highly ambitious goal of reducing greenhouse gas emissions 70 percent below 1990 levels by 2030. While there is general agreement that carbon pricing should be the centerpiece of Denmark’s mitigation strategy, pricing needs to be effective, address equity and leakage concerns, and be reinforced by additional measures at the sectoral level. The strategy Denmark develops can be a good prototype for others to follow. This paper discusses mechanisms to scale up domestic carbon pricing, compensate households, and possibly combine pricing with a border carbon adjustment. It also recommends the use of revenue-neutral feebate schemes to strengthen mitigation incentives, particularly for transportation and agriculture, fisheries and forestry, though these schemes could also be applied more widely. |
| Keywords: | Carbon tax;Greenhouse gas emissions;Consumption;Climate change;Agricultural commodities;Denmark climate mitigation,carbon pricing,feebate,revenue recycling,border carbon adjustment,transportation,agriculture.,WP,emission rate,EU ETS,emissions price,sliding scale,greenhouse gas,proxy emissions fee |
| Date: | 2020–11–12 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2020/235&r=all |
| By: | Guy Meunier; Jean-Pierre Ponssard (X - École polytechnique) |
| Abstract: | Summary: Hydrogen is a possible alternative to the internal combustion engine, alongside battery-powered vehicles, in the context of reducing greenhouse gas emissions associated with transport activities. The costs associated with hydrogen vehicles are currently high, even when considering the greenhouse gas emissions and other pollutants avoided by their use. Efforts to reduce these costs, which will determine the social and environmental desirability of hydrogen vehicles, face two challenges : the high cost of refueling, linked to the crucial problem of coordination between development of the vehicle fleet and refueling infrastructure; and high purchase prices, which may decrease when sufficient quantities generate experience effects. This policy brief argues that each of these two handicaps calls for a specific policy design : at a local level for coordination between actors, and at a European level to generate sufficient volumes. The example of hydrogen-powered urban buses offers a telling illustration of these issues.. Key points: The growing importance of the hydrogen sector has been encouraged by various initiatives in France. These initiatives are based on the idea of a regional ecosystem : around a city, a network of local communities, or even a department or a region. The example of hydrogen buses shows that the abatement costs induced by this technology are still too high. The problem lies both in the price of the vehicles and the supply of fuel. Reducing the costs associated with the supply of fuel requires the resolution of coordination problems linked to network effects, which calls for a response at the local level. Achieving vehicle purchase prices low enough to be competitive requires a European approach, which alone makes it possible to reach significant volumes. |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:ipppap:halshs-03019425&r=all |
| By: | Ralf Martin; Petra Sarapatkova; Dennis Verhoeven |
| Abstract: | UK greenhouse gas (GHG) emissions are declining and have been declining for some time. As of 2018, the UK emitted 449 million tonnes of CO2 equivalent (tCO2e). That corresponds to a reduction of 43% relative to 1990 levels, which should make it easy to meet the 2020 target of a reduction of 37%. Moreover, the UK has a framework of long-run targets developed by the Committee on Climate Change, an independent body of experts advising government. At present, this requires a reduction of 51% by 2025 and 57% by 2030. In addition, shortly before resigning as prime minister, Theresa May introduced a so-called 'net zero' target, requiring a reduction of emissions to (net) zero by 2050. |
| Keywords: | greenhouse gas emissions, committee on climate change, offshore wind power |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepeap:054&r=all |
| By: | Cezar Santos; Tiago Cavalcanti; Zeina Hasna |
| Abstract: | We evaluate the aggregate and distributional effects of climate change mitigation policies using a multi-sector equilibrium model with intersectoral inputoutput linkages and worker heterogeneity calibrated to different countries. The introduction of carbon taxes leads to changes in relative prices and inputs reallocation, including labor. For the United States, reaching its Paris Agreement pledge would imply at most a 0.6% drop in output. This impact is distributed asymmetrically across sectors and individuals.Workers with a comparative advantage in dirty energy sectors who do not reallocate bear relatively more of the cost but constitute a small fraction of the labor force. |
| JEL: | E13 H23 J24 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ptu:wpaper:w202017&r=all |
| By: | Christian Bogmans; Lama Kiyasseh; Akito Matsumoto; Andrea Pescatori |
| Abstract: | Not anytime soon. Using a novel dataset covering 127 countries and spanning two centuries, we find evidence for an energy Kuznets curve, with an initial decline of energy demand at low levels of per capita income followed by stages of acceleration and then saturation at high-income levels. Historical trends in energy efficiency have reduced energy demand, globally, by about 1.2 percent per year and have, thus, helped bring forward a plateau in energy demand for high income countries. At middle incomes energy and income move in lockstep. The decline in the manufacturing share of value added, globally, accounted for about 0.2 percentage points of the energy efficiency gains. At the country level, the decline (rise) of the manufacturing sector has reduced (increased) US (China) energy demand by 4.1 (10.7) percent between 1990 and 2017. |
| Keywords: | Personal income;Manufacturing;Consumption;Energy prices;Oil prices;Energy demand,economic growth,climate change,WP,income elasticity,income growth,energy consumption,income level,manufacturing share,per capita income |
| Date: | 2020–11–20 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2020/253&r=all |
| By: | Knorre, Fabian (TU Dortmund University, Germany and Ruhr Graduate School in Economics Essen, Germany); Wagner, Martin (University of Klagenfurt, Austria, and Bank of Slovenia, Ljubljana, Slovenia, and Institute for Advanced Studies, Vienna, Austria); Grupe, Maximilian (TU Dortmund University, Germany) |
| Abstract: | This paper develops residual-based monitoring procedures for cointegrating polynomial regressions, i. e., regression models including deterministic variables, integrated processes as well as integer powers of integrated processes as regressors. The regressors are allowed to be endogenous and the stationary errors are allowed to be serially correlated. We consider five variants of monitoring statistics and develop the results for three modified least squares estimators for the parameters of the CPRs. The simulations show that using the combination of self-normalization and a moving window leads to the best performance. We use the developed monitoring statistics to assess the structural stability of environmental Kuznets curves (EKCs) for both CO2and SO2 emissions for twelve industrialized country since the first oil price shock. |
| Keywords: | Cointegrating Polynomial Regression, Environmental Kuznets Curve, Monitoring, Structural Change |
| JEL: | C22 C52 Q56 |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:ihs:ihswps:27&r=all |
| By: | Rick Van der Ploeg |
| Abstract: | The social rate of discount is a crucial driver of the social cost of carbon (SCC), i.e. the expected present discounted value of marginal damages resulting from emitting one ton of carbon today. Policy makers should set carbon prices to the SCC using a carbon tax or a competitive permits market. The social discount rate is lower and the SCC higher if policy makers are more patient and if future generations are less affluent and policy makers care about intergenerational inequality. Uncertainty about the future rate of growth of the economy and emissions and the risk of macroeconomic disasters (tail risks) also depress the social discount rate and boost the SCC provided intergenerational inequality aversion is high. Various reasons (e.g. autocorrelation in the economic growth rate or the idea that a decreasing certainty-equivalent discount rate results from a discount rate with a distribution that is constant over time) are discussed for why the social discount rate is likely to decline over time. A declining social discount rate also emerges if account is taken from the relative price effects resulting from different growth rates for ecosystem services and of labour in efficiency units. The market- based asset pricing approach to carbon pricing is contrasted with a more ethical approach to policy making. Some suggestions for further research are offered. |
| Keywords: | cost-benefit analysis, climate policy, carbon pricing, social discount rate, term structure, Keynes-Ramsey rule, risk and uncertainty, disasters, expert opinions |
| JEL: | D81 D90 G12 H43 Q51 Q54 Q58 |
| Date: | 2020–07–22 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:244&r=all |
| By: | Khanna, Tarun |
| Abstract: | While demand side response is recognized as a useful tool in reducing the costs of integration of variable renewables, literature on demand side measures in the developing countries has been limited due to lack of publicly available data on system level end use load profiles. This article fills the gap by evaluating agricultural pumping demand as demand side resource in India. Enabled by the system of segregated power supply for irrigation, pumping load has long been used to flatten the load curve but its value to the system resource has largely been ignored. We collected data on hourly supply to 123 agriculture groups in two distribution utilities in the Indian state of Gujarat for one year and used the derived agriculture supply curves in a production cost optimization power model. We estimate that agriculture demand responds reduces the cost of grid operations by up to 6% in the current system. By suitably modifying the agriculture pumping load the cost of integrating up to 50% of renewable energy is reduced and curtailment is reduced by 3-6%. Decentralized agricultural pumps can reduce the cost of integrating and curtailment by enabling absorption of peak solar energy. We conclude that in power systems with moderate to high shares of agricultural demand, agricultural demand response can provide a cost-effective way of integrating high shares of renewable electricity. Further, even though decentralized systems may require higher feed-in-tariffs, replacing agricultural pumps dependent on centralised supply with decentralized agricultural pumps is more effective in integrating solar electricity as compared to centralized solar power plants besides having benefits for ground water conservation. |
| Keywords: | energy,demand response |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:228611&r=all |
| By: | Tulika Narayan; Anu Rangarajan |
| Abstract: | Global actions to slow climate change are critical, and so is the need to bring a massive influx of funding to adapt to conditions that are now inevitable. The past decade has seen significant capital commitment to address climate change, focused primarily on mitigation actions in the energy sector. Yet more needs to be done. This brief highlights several actions that can help us achieve global climate goals under a new presidential administration. |
| Keywords: | climate, finance, greenhouse, gas, emissions, global, energy |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:20bfd82991724beb98d651665fffea1f&r=all |
| By: | International Monetary Fund |
| Abstract: | This Climate Change Policy Assessment (CCPA) takes stock of the Federated States of Micronesia (FSM)’s climate response plans, from the perspective of their macroeconomic and fiscal implications. CCPA explores the possible impact of climate change and natural disasters and the cost of FSM’s planned response. It suggests macroeconomically relevant reforms that could strengthen the national strategy and identifies policy gaps and resource needs. FSM has made progress toward its Nationally Determined Contribution mitigation pledge by beginning to expand renewable power generation and improve its efficiency. The authorities plan to continue this and encourage the take-up of energy efficient building design and appliances. Accelerating adaptation investments is paramount, which requires addressing critical capacity constraints and increasing grant financing. It is recommended that FSM needs to increase its capacity to address natural disaster risks following the expiry of Compact-related assistance in 2023. It is advised to improve climate data collection and use, including on the costs of high and low intensity disasters and disaster response expenditure. |
| Keywords: | Climate change;Natural disasters;Disaster aid;Infrastructure;Climate policy;ISCR,CR,financial support,fiscal cliff,FSM authorities,capital project,government of FSM |
| Date: | 2019–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2019/292&r=all |
| By: | Afridi, Farzana (Indian Statistical Institute); Debnath, Sisir (Indian Institute of Technology Delhi); Somanathan, E. (Indian Statistical Institute) |
| Abstract: | Air pollution is amongst the gravest public health concerns worldwide, and indoor sources are the largest contributors in many developing countries. In our study in central India, we randomly assign villages to a campaign by rural public health workers to either raise awareness about the adverse health effects of smoke from solid fuels and measures to mitigate them, or raise health awareness along with providing information on the universal cash-back LPG subsidy program or a control group in which neither information is provided. Using sales records of oil marketing companies, we find an over 6% increase in the purchase of LPG refills annually, almost 14% rise in monthly refill consumption and a 52% increase in self-reported induction stove usage in the combined treatment. There was no change in consumption of either LPG refills or usage of induction stoves in the health only treatment, but we observe behavioral changes - over 6 percentage points increase in the probability of the household having an outlet for smoke or a separate room for cooking. Our findings highlight the salience of financial constraints and the importance of the design of public subsidy schemes in inducing regular usage of clean fuels. |
| Keywords: | air pollution, solid fuels, LPG, induction, health, subsidy, awareness, India |
| JEL: | D10 D90 I15 Q53 |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13967&r=all |
| By: | Walid Matar; Rami Shabaneh (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | The advent of American shale oil and its prospects for continued production growth have raised concerns about whether oil refineries can handle the increasingly lighter crude oil supply. To provide a perspective on this issue, we run a global oil refining model for the years from 2017 to 2030. The model’s objective is to maximize refining industry profits in eight global regions, taking into account around 100 grades of crude oil. |
| Keywords: | Crude oil, Oil refining, Optimization model, Shale oil |
| Date: | 2021–01–06 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2020-dp27&r=all |
| By: | Hyun Jin Jang; Kiseop Lee; Kyungsub Lee |
| Abstract: | We propose the Hawkes flocking model that assesses systemic risk in high-frequency processes at the two perspectives -- endogeneity and interactivity. We examine the futures markets of WTI crude oil and gasoline for the past decade, and perform a comparative analysis with conditional value-at-risk as a benchmark measure. In terms of high-frequency structure, we derive the empirical findings. The endogenous systemic risk in WTI was significantly higher than that in gasoline, and the level at which gasoline affects WTI was constantly higher than in the opposite case. Moreover, although the relative influence's degree was asymmetric, its difference has gradually reduced. |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2012.04181&r=all |
| By: | Wei Li; Denis Mike Becker |
| Abstract: | The availability of accurate day-ahead electricity price forecasts is pivotal for electricity market participants. In the context of trade liberalisation and market harmonisation in the European markets, accurate price forecasting becomes even more difficult to obtain. The increasing power market integration has complicated the forecasting process, where electricity forecasting requires considering features from both the local market and ever-growing coupling markets. In this paper, we apply state-of-the-art deep learning models, combined with feature selection algorithms for electricity price prediction under the consideration of market coupling. We propose three hybrid architectures of long-short term memory (LSTM) deep neural networks and compare the prediction performance, in terms of various feature selections. In our empirical study, we construct a broad set of features from the Nord Pool market and its six coupling countries for forecasting the Nord Pool system price. The results show that feature selection is essential to achieving accurate prediction. Superior feature selection algorithms filter meaningful information, eliminate irrelevant information, and further improve the forecasting accuracy of LSTM-based deep neural networks. The proposed models obtain considerably accurate results. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2101.05249&r=all |
| By: | Biung-Ghi Ju (Department of Economics, Seoul National University); Min Kim (Rutgers University, USA); Suyi Kim (Hongik University, Korea); Juan D. Moreno-Ternero (Department of Economics, Universidad Pablo de Olavide;) |
| Abstract: | We study the design of fair international protocols for the abatement of GHG emissions. We formulate normative principles, pertaining to countries' population, emission history, and (business as usual) future emissions, as axioms for allocation rules. We show that combinations of these axioms characterize the so-called equal per capita allocation rules, with or without historical accountability. The allocations provided by these rules are in stark contrast with the allocation suggested by the Kyoto protocol, which is close to the allocation in proportion to the current and business-as-usual emissions, suggested by the equal per emission (grandfathering) rule. As we illustrate, equal per capita allocations admit more emissions to developing countries with large populations. And, with historical accountability, developed countries with large historical emissions are clearly penalized. |
| Keywords: | climate change; GHG reduction targets; allocation rules; historical accountability; history independence; equal per capita allocation |
| JEL: | D63 Q52 Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pab:wpaper:21.01&r=all |
| By: | International Monetary Fund |
| Abstract: | This Selected Issues paper summarizes achievements of the authorities to date and describes several options to support their ongoing efforts. The economic impact of climate change on Bangladesh is likely to become more pronounced. The outlook for Bangladesh is a source of concern, with experts from the Intergovernmental Panel on Climate Change predicting that a rise in sea levels and coastal erosion could lead to a loss of 17 percent of land surface and 30 percent of food production by 2050. Responding effectively to the impact of climate change depends on designing an appropriate set of fiscal policies. These can play a key role in mobilizing both public and private sources of finance for mitigation and adaptation activities. A second priority for Bangladesh is to raise domestic revenue from its current low base, including through introduction of a carbon tax. By helping establish a predictable price for carbon emissions, carbon taxes also provide clear incentives to promote investments in emissions-saving technologies. Although opponents argue that such taxes harm economic activity and slow job creation, the revenue they generate may over time be used to reduce other distorting taxes on labor and capital. |
| Keywords: | Climate change;Natural disasters;Comparative advantage;Exports;Greenhouse gas emissions;ISCR,CR,Bangladesh,product,economy,industry,labor force |
| Date: | 2019–09–18 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2019/300&r=all |
| By: | Thomas Eichner; Rüdiger Pethig |
| Abstract: | This paper analyzes the efficient emissions taxation in economies with individuals who are morally motivated to reduce their emissions footprint. They are heterogenous with respect to their morality and their consumption preferences. We distinguish between the concepts of moral and conventional utilitarian (= material) welfare. The materially efficient tax rates turn out to be consumer-type specific; they are smaller than the Pigovian tax rate; and the smaller, the higher the individuals’ propensity to act morally. Finally, we briefly characterize the second-best uniform emissions tax. |
| Keywords: | Pigovian tax, material, moral, Kantian, consumer-type tax |
| JEL: | H21 Q58 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8749&r=all |
| By: | Sarah Spycher; Ralph Winkler |
| Abstract: | We reassess the well-known “narrow-but-deep” versus “broad-but-shallow” trade-off in international environmental agreements (IEAs), taking into account the principal-agent relationship induced by the hierarchical structure of international policy. To this end, we expand the modest coalition formation game, in which countries first decide on whether to join an agreement and then decide on emissions by a strategic delegation stage. In the weak delegation game, principals first decide whether to join an IEA, then delegate the domestic emission choices to an agent. Finally, agents in all countries decide on emissions. In countries not joining the IEA, agents choose emissions to maximize their own payoff, while agents of countries joining the IEA set emissions to internalize some exogenously given fraction of the externalities that own emissions cause on all members of the IEA. In the strong delegation game principals first delegate to agents, which then decide on membership and emissions. We find that strategic delegation crowds out all efforts to increase coalition sizes by less ambitious agreements in the weak delegation game, while in the strong delegation game the first-best from the principals’ point of view can be achieved. |
| Keywords: | international climate policy, coalition formation game, political economy, strategic delegation, strategic voting |
| JEL: | Q54 Q58 C72 D62 H41 P16 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8769&r=all |
| By: | Guy Meunier; Jean-Pierre Ponssard (X - École polytechnique) |
| Abstract: | Résumé : La filière hydrogène est une alternative possible au moteur thermique, aux côtés des véhicules à batterie, dans la perspective de réduire les émissions de gaz à effets de serre associées aux activités de transport. Les coûts associés aux véhicules à hydrogène sont actuellement élevés, même au regard des émissions de gaz à effet de serre et de polluants évitées par leur utilisation. Une diminution des coûts associés aux véhicules à hydrogène, déterminant de leur désirabilité sociale et environnementale, se heurte pourtant à des difficultés de deux ordres. D'une part un coût de recharge élevé, où le problème de la coordination entre développement de la flotte de véhicules et infrastructure de recharge est crucial. D'autre part, des prix d'achat élevés, susceptibles de diminuer grâce à des quantités suffisantes générant des effets d'expérience.Cette note argumente que chacun de ces deux handicaps appellent une politique publique structurée à un niveau spécifique : un niveau local pour la coordination entre acteurs, et un niveau européen pour générer des volumes suffisants. L'exemple des bus urbains à hydrogène offre une illustration parlante de ces problématiques. Points clés : La montée en puissance de la filière hydrogène est encouragée par diverses initiatives en France. Ces initiatives reposent sur la notion d'écosystème régional : autour d'une ville, d'une communauté de collectivités locales, voire d'un département ou d'une région. L'exemple des bus à hydrogène montre que les coûts d'abattements induits par cette technologie sont encore trop élevés. Le problème réside à la fois dans le prix des véhicules et dans la fourniture du combustible. Faire diminuer les coûts associés à la fourniture du combustible nécessite la résolution de problèmes de coordination liés aux effets de réseau, ce qui appelle une réponse au niveau local. Atteindre des prix d'achats de véhicules suffisamment bas pour être compétitifs nécessite une approche européenne, qui seule permet d'atteindre un niveau significatif de volumes. |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:ipppap:halshs-03019417&r=all |
| By: | World Bank |
| Keywords: | Energy - Energy Finance Energy - Energy Policies & Economics Energy - Hydro Power |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:33313&r=all |
| By: | Comincioli, Nicola; Hagspiel, Verena; Kort, Peter M.; Menoncin, Francesco; Miniaci, Raffaele; Vergalli, Sergio |
| Abstract: | The mothballing option has been studied in the literature, but mainly in decision theoretic frameworks. This paper looks at it from a strategic point of view and applies it to an incumbent-entrant framework. In particular, based on the recent strategic interactions between OPEC and the shale oil industry, we conduct a case study where the incumbent OPEC is a exible producer that competes with a representative shale oil firm. Upon entry, the latter produces a fixed amount but it can apply the mothballing option in times of low demand. Our main results are threefold. First, we find that under low demand uncertainty, the mothballing option has a negative effect on the value of the entrant. Second, a large market share of the entrant will stimulate mothballing, caused by a so-called squeeze strategy of the incumbent. Third, our empirical analysis of the (shale) oil market learns that a higher demand elasticity induces mothballing. |
| Keywords: | Resource /Energy Economics and Policy |
| Date: | 2020–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemgc:307984&r=all |
| By: | Laure Bamière (ECO-PUB - Economie Publique - AgroParisTech - INRA - Institut National de la Recherche Agronomique); Michele Schiavo (UAR - Délégation à l'Expertise scientifique collective, à la Prospective et aux Etudes - INRA - Institut National de la Recherche Agronomique); Olivier Rechauchère (UAR - Délégation à l'Expertise scientifique collective, à la Prospective et aux Etudes - INRA - Institut National de la Recherche Agronomique); Sylvain Pellerin (ISPA - Interactions Sol Plante Atmosphère - Bordeaux Sciences Agro - Ecole Nationale Supérieure des Sciences Agronomiques de Bordeaux-Aquitaine - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | L'initiative "4 ‰ sur les sols pour la sécurité alimentaire et le climat", lancée par la France à l'occasion de la Conférence de Paris sur le climat (COP-21), propose d'augmenter chaque année d'un quatre millième le stock de carbone présent dans tous les sols du monde. Ce chiffre résulte d'un calcul initial simple, considérant que l'ensemble des émissions annuelles de CO2 dues aux activités humaines représente actuellement, au niveau mondial, l'équivalent d'un quatre millième du stock de carbone (C) des sols de la planète (environ 2 400 gigatonnes de C). Un stockage annuel de 4 pour 1000 (4‰) sur toute la profondeur du sol compenserait alors l'ensemble de ces émissions. Cet objectif initial a été corrigé ultérieurement en considérant une cible de stockage annuel de 4‰ sur le seul horizon de surface (0-30 cm) des sols mondiaux. A la demande de l'ADEME et du Ministère de l'Agriculture et de l'Alimentation, l'INRA a conduit une étude, centrée sur la France métropolitaine, visant à estimer le potentiel de stockage de carbone des sols agricoles et forestiers, en identifiant les pratiques qui permettraient d'accroître leur teneur en carbone organique et in fine à évaluer la contribution potentielle de ce levier à l'objectif de réduction des émissions nettes de gaz à effet de serre. |
| Keywords: | Carbone,Sols agricoles,France,effet de serre |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02940680&r=all |
| By: | Belaïd, Fateh (Lille Catholic University); Rault, Christophe (University of Orléans); Massié, Camille (Lille Catholic University) |
| Abstract: | This paper develops a pseudo-panel approach to examine household electricity demand behavior through the household life cycle and its response to income variations to help strengthen the energy policy-making process. Our empirical methodology is based on three rich independent microdata surveys (the National Housing Surveys), which are representative of the French housing sector. The resulted sample covers the 2006-2016 period. Using within estimations, this paper finds striking evidence that the income elasticity of French residential electricity demand is 0.22, averaged over our four cohorts of generations. In light of other works, our estimate stands in the lower range. The empirical results also show that residential electricity consumption follows an inverted U-shaped distribution as a function of the age of the household's head. Most notably, it appears that households at the mid-point of their life cycle are relatively the largest consumers of electricity. This outcome has important implications for policy-making. Any public policy aimed at reducing household energy consumption should consider this differentiation in consumption according to the position of households over the life cycle, and therefore target as priority households at the highest level of consumption. |
| Keywords: | residential electricity demand, pseudo-panel, energy policy, France |
| JEL: | C23 D12 Q21 Q41 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14010&r=all |
| By: | Belaïd, Fateh (Lille Catholic University); Rault, Christophe (University of Orléans) |
| Abstract: | This paper investigates the key factors affecting household energy expenditure in Egypt. Based upon the latest 2015 Egyptian HIECS Survey, we develop a quantile regression model with an innovative variable selection approach via Adaptive Lasso Regularization technique to untangle the spectrum of household energy expenditure. Unsurprisingly, income, age, household size, housing size, and employment status are salient predictors for energy expenditure. Housing characteristics have a moderate impact, while socio-economic attributes have a much larger one. The largest variations in household energy expenditures in Egypt are mainly due to variations in income, household size, and housing type. Our findings document substantial differences in household energy expenditure, originating from the asymmetric tails of the energy expenditure distribution. This outcome highlights the added value of implementing quantile regression methods. Our empirical results have various interesting policy implications regarding residential energy efficiency and carbon emissions reduction in Egypt. |
| Keywords: | residential energy expenditure, energy efficiency, quantile regression, adaptive lasso, Egypt |
| JEL: | C11 C21 D12 Q4 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14011&r=all |
| By: | Anna Valero; John Van Reenen |
| Abstract: | Since the global financial crisis, the UK has been grappling with persistent poor productivity performance. While a number of factors have been at play, reduced investment due to austerity harmed growth in the early years, and more recently, policy uncertainty surrounding Brexit has held back investment. While Brexit has dominated UK politics and economic policy since the referendum on EU membership in 2016, the UK government has been developing an industrial strategy in recent years, and has also made a commitment to achieving net zero carbon emissions by 2050. These two elements of policy must be consistent and long-term to enable the UK to meet its commitments, while realising the growth opportunities associated with innovation in the low carbon transition. While institutions around industrial strategy have been strengthened, there is a risk that the volatile political climate could prevent its objectives from being achieved. |
| Keywords: | productivity, Brexit, low investment, earnings |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepeap:049&r=all |
| By: | Vijayalakshmi S; Krishna Raj (Institute for Social and Economic Change) |
| Abstract: | India is one among the fastest growing economies in the world with an average growth rate of eight per cent of Gross Domestic Product in the last decade. The impact of increase in GDP can be observed in many sectors of the economy and transport is not devoid of it. Micro-economic theories firmly established the relationship between income and consumption having direct and positive impact. This can be observed in case of India’s per capita income and personal vehicular growth. In this line, the paper tried to analyse this relationship by compiling time-series data of total registered vehicles and personal income from 1960-2015. Since, vehicular population has influenced other important variables like urbanisation and employment, the paper tried to model their effect under Autoregressive - Distributed Lag model (ARDL) and proves their long run co-integration.Though increase in income and vehicles tend to show positive sign of economic growth, its negative implications cannot be ignored. The paper also brings out the emergence of negative externalities of growth of vehicular population by way of deteriorating air quality of the country, which has affected the GDP. World Bank (2013) estimates show that three percent of GDP is lost due to air pollution in India which is commonly attributed to vehicular emission |
| Keywords: | Microeconomics; Income and consumption; Econometrics |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sch:wpaper:439&r=all |
| By: | Buchholz, Wolfgang; Rübbelke, Dirk |
| Abstract: | Expectations concerning international climate finance have increased considerably. In particular, provisions for international transfer schemes are an important element in the Paris Agreement. Yet, climate finance is not only seen as a tool to efficiently combat global warming, but also to solve development problems in the recipient countries. Thereby, conflicts between distributive and allocative objectives arise, which threaten overall performance of such transfer schemes. Given the severity of the climate change problem, we raise concerns whether the world can afford climate transfer schemes that do not focus on prevention of (and adaptation to) climate change, but are considered as a vehicle of rent-seeking by many agents. In line with the famous Tinbergen rule we argue that other sustainability problems and issues of global fairness should not be primarily addressed by climate finance but should be mainly tackled by other means. Future designs of international transfer schemes within the framework of the Paris Agreement are to be based on experience gained from existing mechanisms. Therefore, we con-sider different existing schemes using a graphical technique first proposed by David Pearce and describe the conflicts between allocative and distributional goals that arise. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2020–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemff:307983&r=all |
| By: | Ridwan D. Rusli; Wessel N. Vermeulen |
| Abstract: | We examine the economic consequences of resource extraction and the associ-ated revenue windfalls on subnational government revenues and spending patterns. Making use of Indonesia’s fiscal sharing rules and an offshore oil and gas produc-tion instrument, we find a positive impact of resource revenues on the center-local balancing funds including the general allocation fund, despite the latters’ fiscal re-balancing purposes. Fiscal windfalls from resource extraction increase public sector spending on capital and infrastructure projects as well as public goods and services, with positive spillover benefits on local tax revenues. At the same time spending on personnel and administration increases less and decrease as percentage of total expenditures. Interaction with district economic governance index data indicates enhanced infrastructure spending but also increases in the balancing funds. |
| Keywords: | Resource extraction; fiscal- and direct economic spillovers; decen¬tralization; subnational government budgets; South-East Asia; Indonesia |
| JEL: | H71 O13 Q32 |
| Date: | 2019–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:222&r=all |
| By: | Xiao-Shan Yap; Bernhard Truffer; Deyu Li; Gaston Heimeriks; |
| Abstract: | Recent research in catching-up and leapfrogging literature has been at pains to explain how latecomer countries, besides a few exceptional cases, could achieve leadership positions in global industries. We propose to extend the potential development strategies by drawing on recent insights at the interface between economic geography and socio-technical transition studies. Whereas the extant catch-up literature has strongly focused on conditions of knowledge development, we claim that processes of “valuation†and in particular the formation of new markets needs to be considered more explicitly. Drawing on recent developments in the Chinese solar photovoltaics industry, we show how companies in the country moved from a knowledge based catch-up strategy, to increasingly leading the innovation frontier of the PV sector. However the most promising leapfrogging opportunity only seems to take shape in the most recent phase, where market deployment and entrepreneurial experimentation increasingly target a transition of the electricity sector towards accommodating a high share of renewables. In a nutshell, the experience of the Chinese solar photovoltaics industry progressed from manufacturing PV cells, to climbing the value chain ladder, and finally towards the construction of entirely new socio-technical systems. We argue that this approach is increasingly necessary as sustainability requirements become more urgent and that other countries may learn in order to move out of the middle- income trap. |
| Keywords: | Catch-up; Leapfrog; Middle-income trap; Socio-technical systems; Knowledge; Unrelated diversification |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:2059&r=all |
| By: | Olivier Chanel (Aix-Marseille Univ., CNRS, AMSE, Marseille, France); Sylvia Medina (Santé publique France, Saint-Maurice, France); Mathilde Pascal (Santé publique France, Saint-Maurice, France) |
| Abstract: | Cet article propose une discussion méthodologique à partir d’une évaluation économique des impacts sur la mortalité de l’exposition chronique aux particules fines en France continentale. Il prend comme point de départ l’évaluation quantitative d’impact sanitaire (EQIS), réalisée par Santé publique France en 2016, de 5 scénarios de réduction des concentrations par deux méthodes de mesure de la mortalité (nombre de décès prématurés évités et nombre total d’années de vie gagnées). Après une justification des valeurs monétaires utilisées – 3 millions € pour la valeur d’évitement d’un décès et 80 000 € pour celle d’une année de vie gagnée – nous les appliquons aux données sanitaires, et obtenons des résultats comparables aux études contemporaines. En particulier, dans un scénario sans pollution anthropique, l’EQIS de 2016 estime à 48 283 les décès prématurés évités, que nous évaluons à 144,85 milliards €2008. Nous questionnons ensuite les méthodes et pratiques : les sources de divergence avec la précédente étude française menée en 1998-99, le choix des valeurs monétaires et les conditions d’utilisation de ces résultats dans la décision publique. Au final, nous apportons un argument supplémentaire sur la nécessité de réduire l’exposition des populations à la pollution de l’air ambiant en France. |
| Keywords: | pollution atmosphérique, évaluation économique, mortalité, valeur d’évitement d’un décès |
| JEL: | I18 Q53 Q58 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:2049&r=all |
| By: | Christina Appiah-Nimo (Department of Management and Marketing Faculty of Management and Economics Tomas Bata University in Zlin, Czechia. Author-2-Name: Gloria K.Q. Agyapong Author-2-Workplace-Name: Department of Marketing and Supply Chain Management School of Business University of Cape Coast, Ghana Author-3-Name: Daniel Ofori Author-3-Workplace-Name: Department of Marketing and Supply Chain Management School of Business University of Cape Coast, Ghana Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | Objective - Based on the theory of planned behaviour, this study empirically investigated and significantly validated the relationship among hedonistic buying orientation, utilitarian buying orientation, pro-environmental orientation. and willingness to patronise green hotels. Methodology/Technique - This quantitative study used the survey technique in data collection among hotel customers. 208 online surveys were gathered for data analysis. Sem-pls was used to analyse the hypothesised objectives. Findings - The findings indicated that pro-environmental values, hedonistic buying orientation and utilitarian buying orientation all have a positive and significant relationship with their willingness to patronise green hotels. Novelty - The value of this study lies in the novel use of consumer buying orientation as a predictive factor of consumers' willingness to patronise green hotels, and to the best of the authors knowledge, it is among the first to empirically test such relationship. This study is useful to key stakeholders in the hospitality sector and managers of hotels to understand consumers pro-environmental patronage. Type of Paper - Empirical. |
| Keywords: | Consumer buying orientation; willingness to patronise green hotel; pro-environmental value. |
| JEL: | M31 M39 |
| Date: | 2020–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jmmr261&r=all |
| By: | Saeed Moshiri; Gry Østenstad; Wessel N. Vermeulen§ |
| Abstract: | This study investigates the effects of an oil boom on firms’ performance using data from the Canadian Annual Survey of Manufactures. We exploit the time variation of the booming natural resource sector activity in an oil-producing area with the location of manufacturing plants. We hypothesize that the effect of the booming sector on plants depends on their spatial proximity, which allows us to create an exogenous treatment variable. The outcome variables include plant-level wages, employment, sales, and exports. We find that the effect of the booming sector on the incidence of exporting varies greatly by plant-level productivity. More productive plants become more likely to export relative to less productive plants. They can do so by paying a higher wage, while employment grows less than plants that serve only the domestic market. We find that initial productivity and plants’ ability to export provides an important differentiation in average plants effects. In particular, while there is a great variety in the effect by sector, a clear linkage with the resource industry is not observed. |
| Keywords: | natural resources, heterogeneous firms, regional economics |
| JEL: | L6 O4 R11 R15 |
| Date: | 2019–02–15 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:216&r=all |
| By: | Tulika Narayan; Anu Rangarajan; Faraz Usmani |
| Abstract: | This brief outlines four priority areas for the new administration’s consideration that offer opportunities for high-impact climate action: (1) sustainable climate finance, (2) analytic frameworks and decision support tools to maximize impact, (3) behavior change interventions combined with rapid-cycle evaluations to enhance intervention effectiveness, and (4) climate justice. |
| Keywords: | climate, finance, greenhouse, gas, emissions, global, energy |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:ccd97d7a74294906bedb71192d4dfcbd&r=all |
| By: | Loïc Berger; Massimo Marinacci (Bocconi University [Milan, Italy]) |
| Abstract: | We review recent models of choices under uncertainty that have been proposed in the economic literature. In particular, we show how different concepts and methods of economic decision theory can be directly useful for problems in environmental economics. The framework we propose is general and can be applied in many different fields of environmental economics. To illustrate, we provide a simple application in the context of an optimal mitigation policy under climate change. |
| Keywords: | Ambiguity,non-expected utility,model uncertainty,climate change |
| Date: | 2020–09–19 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02914088&r=all |
| By: | John Graham |
| Keywords: | Transport - Transport Economics Policy & Planning Urban Development - Transport in Urban Areas Infrastructure Economics and Finance - Infrastructure Finance |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:33642&r=all |
| By: | John Graham |
| Keywords: | Transport - Transport Economics Policy & Planning Urban Development - Transport in Urban Areas Infrastructure Economics and Finance - Infrastructure Finance |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:33640&r=all |
| By: | Benjamín Contreras Astiazarán; René Leal Vizcaíno; Jordán Mosqueda; Alejandrina Sacelcedo |
| Abstract: | We document the following stylized facts for the Mexican retail market for gasoline using data for 2018-2019: (1) consumer prices adjust slower than wholesale prices; (2) more competition, in the form of a higher density of stations, implies lower markups and lower prices; and (3) more competition implies faster pass-through. However, we find geographical differences in the speed of pass-through that cannot be explained by differences in station density. We conjecture that coordination on high prices could be offsetting competitive pressure in some locations. We build a classifier that separates municipalities into two categories depending on whether the relative price concentration is on “high” prices or “low” prices. In the first type of municipalities, the price concentration is correlated positively with the price level and negatively with pass-through. For concentration in "low" prices the signs of the correlations are reversed. |
| JEL: | L4 L5 L13 D4 H25 |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:bdm:wpaper:2020-15&r=all |