nep-ene New Economics Papers
on Energy Economics
Issue of 2022‒04‒25
forty-one papers chosen by
Roger Fouquet
London School of Economics

  1. Innovation, growth and the transition to net-zero emissions By Stern, Nicholas; Sivropoulos-Valero, Anna Valero
  2. A home for all within planetary boundaries: pathways for meeting England’s housing needs without transgressing national climate and biodiversity goals By zu Ermgassen, Sophus; Drewniok, Michal; Bull, Joseph; Walker, Christine Corlet; Mancini, Mattia; Ryan-Collins, Josh; Serrenho, André Cabrera
  3. Energy efficiency: what has research delivered in the last 40 years? By Saunders, Harry D.; Roy, Joyashree; Azevedo, Inês M.L.; Chakravarty, Debalina; Dasgupta, Shyamasree; De La Rue Du Can, Stephane; Druckman, Angela; Fouquet, Roger; Grubb, Michael; Lin, Boqiang; Lowe, Robert; Madlener, Reinhard; McCoy, Daire M.; Mundaca, Luis; Oreszczyn, Tadj; Sorrell, Steven; Stern, David; Tanaka, Kanako; Wei, Taoyuan
  4. How impact evaluation methods influence the outcomes of development projects? Evidence from a meta-analysis on decentralized solar nano projects By Fatoumata Nankoto Cissé
  5. The political economy of financing climate policy – Evidence from the solar PV subsidy programs By De Groote, Olivier; Gautier, Axel; Verboven, Frank
  6. Economic Geography and the Efficiency of Environmental Regulation By Alex Hollingsworth; Taylor Jaworski; Carl Kitchens; Ivan J. Rudik
  7. Time for Clean Energy? Cleaner Fuels and Women's Time in Home Production By Afridi, Farzana; Debnath, Sisir; Dinkelman, Taryn; Sareen, Komal
  8. Intergenerational equity and responsibility: a call to internalize impermanence into certifying carbon sequestration By Arcusa, Stephanie; Lackner, Klaus
  9. Assessing the Moderating Effect of Institutional Quality on Economic Growth - Carbon Emission Nexus in Nigeria By Anne C. Maduka; Stephen O. Ogwu; Chukwunonso S. Ekesiobi
  10. The impacts of climate change mitigation on work for the Austrian economy By Hoffmann, Maja; Spash, Clive L.
  11. The Economic Implications of the War in Ukraine for Africa and Morocco By Abdelaaziz Ait Ali; Fahd AZAROUAL; Oumayma Bourhriba; Uri Dadush
  12. The impacts of electric vehicles uptake and heat pump installation on the Irish economy By De Bruin, Kelly C; Yakut, Aykut Mert
  13. Grandfathering with Anticipation By Christopher Costello; Corbett A. Grainger
  14. Green Purchase Intention: An Investigation from Vietnamese Young Consumers By Ho, Thi Thu; Huynh, Cong Minh
  15. Energy Prices and Electric Vehicle Adoption By James B. Bushnell; Erich Muehlegger; David S. Rapson
  16. Valorization of agro-industrial wastes for biorefinery process and circular bioeconomy: A critical review By Yaashikaa, P.R.; Kumar, P. Senthil
  17. What is the effect of EU's fuel-tax cuts on Russia's oil income? By Johan Gars; Daniel Spiro; Henrik Wachtmeister
  18. Fueling Alternatives: Gas Station Choice and the Implications for Electric Charging By Jackson Dorsey; Ashley Langer; Shaun McRae
  19. Snapshot of the Carbon Sequestration Certification Market Ecosystem By Arcusa, Stephanie; Sprenkle-Hyppolite, Starry
  20. Does Something Change in the Oil Market with the COVID-19 Crisis ? By Dan Zhang; Arash Farnoosh; Frédéric Lantz
  21. Modelling future trends of annual embodied energy of urban residential building stock in China By Zhou, W.; Moncaster, A.; O’Neill, E.; Reiner, D.; Wang, X.; Guthrie, P.
  22. Oil price shocks, government revenues and public investment: The case of Ecuador By Díaz-Kovalenko, Igor E.; Torres, José L.
  23. Super-linear Scaling Behavior for Electric Vehicle Chargers and Road Map to Addressing the Infrastructure Gap By Alexius Wadell; Matthew Guttenberg; Christopher P. Kempes; Venkatasubramanian Viswanathan
  24. Countering global oil theft: responses and solutions By Etienne Romsom
  25. Welfare Implications of Electric-Bike Subsidies: Evidence from Sweden By Anders Anderson; Harrison Hong
  26. Spain: Selected Issues By International Monetary Fund
  27. Analysing the impact of green information system, green packaging, reverse logistics on logistics performance in the construction industry By Elizabeth Chinomona
  28. Nachhaltige Mobilität und innovative Geschäftsmodelle By Doll, Claus; Krauss, Konstantin
  29. Opportunities for a Just Transition to environmental sustainability and COVID-19 recovery in the textile and garment sector in Asia By Sharpe, Samantha.; Veem, Katarina.; Kallio, Karina.; Martinez Fernandez, Maria Cristina.
  30. Innovational Duality and Sustainable Development: Finding Optima amidst Socio-Ecological Policy Trade-off in post-COVID-19 Era By Sinha, Avik; Adhikari, Arnab; Jha, Ashish Kumar
  31. Revisiting the accuracy of inflation forecasts in Nigeria: The oil price-exchange rate-asymmetry perspectives By Kazeem Isah; Abdulkader Cassim Mahomedy; Elias Udeaja; Ojo Adelakun; Yusuf Yakubua
  32. Pollution Pictures: Psychological Exposure to Pollution Impacts Worker Productivity in a Large-scale Field Experiment By Nikolai Cook, Anthony Heyes
  33. The effect of a carbon tax rise on Iceland’s economy By Hansjörg Blöchliger; Sigurdur Johannesson; Marias Halldor Gestsson
  34. Symbolic capital at EDF, History of a social reputation preserved. How can the past still help organizations to project into the future? By Jean-Marc Lairaudat
  35. Nigeria: Selected Issues By International Monetary Fund
  36. A Survey of the Innovation Ecosystem in the United Arab Emirates By Sharafi, Abdullah
  37. Taking climate action measuring carbon emissions in the garment sector in Asia By Sharpe, Samantha.; Dominish, Elsa.; Martinez Fernandez, Maria Cristina.
  38. Testing day-of-the-week persistence and seasonality in Spanish Electricity Energy prices By Yaya, OlaOluwa S.; Vo, Xuan Vinh
  39. Green financial products in the EU: A critical review of the status quo By Brühl, Volker
  40. Szenarien für eine Energiewende in ländlichen und städtischen Räumen. Teil 1: Regional vernetzt und gesellschaftlich getragen in eine klimaneutrale Zukunft By Eichenauer, Eva; Irmisch, Janne; Ulrich, Peter
  41. The urban food-water-energy nexus footprint model: An early application By Athauda, Nelsha; Zozmann, Heinrich; Maiwald, Linda; Klassert, Christian; Klauer, Bernd

  1. By: Stern, Nicholas; Sivropoulos-Valero, Anna Valero
    Abstract: The climate crisis and the global economic impact of the Covid-19 crisis occur against a background of slowing growth and widening inequalities, which together imply an urgent need for a new environmentally sustainable and inclusive approach to growth. Investments in "clean" innovation and its diffusion are key to shaping this, accompanied by investments in complementary assets including sustainable infrastructure, and human, natural and social capital which will not only help achieve net-zero greenhouse gas emissions, but will also improve productivity, living standards and the prospects of individuals. In this article, we draw on the theoretical and empirical evidence on the opportunities, drivers and policies for innovation-led sustainable growth. We highlight the importance of a coordinated set of long-term policies and institutions that can enable and foster private sector investments in clean innovation and assets quickly and at scale. In doing so, we draw inspiration from Chris Freeman's work on the system-wide drivers of innovation, and his early vision of achieving environmental sustainability by reorienting growth.
    Keywords: innovation; sustainable growth; net-zero transition; clean technology; ES/S001735/1
    JEL: O31 O33 O38 O55
    Date: 2021–06–01
  2. By: zu Ermgassen, Sophus; Drewniok, Michal; Bull, Joseph; Walker, Christine Corlet; Mancini, Mattia; Ryan-Collins, Josh; Serrenho, André Cabrera
    Abstract: Secure housing is a fundamental human right. However, potential conflicts between housing and sustainability objectives remain under-researched. We explore the impact of current English government housing policy, and alternative housing strategies, on national carbon and biodiversity goals. Using material flow and land use change/biodiversity models, we estimate under current policy housing alone would consume 113% of England’s cumulative carbon budget for 2050 (2.9/2.5Gt [50% chance of <1.5°C]); 12% from the construction and operation of newbuilds and 101% from the existing stock. Housing expansion also potentially conflicts with England’s biodiversity targets. However, meeting greater housing need without rapid housing expansion is theoretically possible. We review solutions including improving affordability by reducing demand for homes as financial assets, expanding social housing, and reducing underutilisation of floor-space. Transitioning to housing strategies which slow housing expansion and accelerate low-carbon retrofits would achieve lower emissions, but face an unfavourable political economy and structural economic barriers.
    Date: 2022–03–08
  3. By: Saunders, Harry D.; Roy, Joyashree; Azevedo, Inês M.L.; Chakravarty, Debalina; Dasgupta, Shyamasree; De La Rue Du Can, Stephane; Druckman, Angela; Fouquet, Roger; Grubb, Michael; Lin, Boqiang; Lowe, Robert; Madlener, Reinhard; McCoy, Daire M.; Mundaca, Luis; Oreszczyn, Tadj; Sorrell, Steven; Stern, David; Tanaka, Kanako; Wei, Taoyuan
    Abstract: This article presents a critical assessment of 40 years of research that may be brought under the umbrella of energy efficiency, spanning different aggregations and domains-from individual producing and consuming agents to economy-wide effects to the role of innovation to the influence of policy. After 40 years of research, energy efficiency initiatives are generally perceived as highly effective. Innovation has contributed to lowering energy technology costs and increasing energy productivity. Energy efficiency programs in many cases have reduced energy use per unit of economic output and have been associated with net improvements in welfare, emission reductions, or both. Rebound effects at the macro level still warrant careful policy attention, as they may be nontrivial. Complexity of energy efficiency dynamics calls for further methodological and empirical advances, multidisciplinary approaches, and granular data at the service level for research in this field to be of greatest societal benefit.
    Keywords: efficiency policy; energy efficiency; energy efficiency gap; energy intensity; public policy; Grantham Research Institute on Climate Change and the Environment at the London School of Economics and from the ESRC Centre for Climate Change Economics and Policy (CCCEP) (ref. ES/R009708/1; UKRI/EPSRC under the Heat; Buildings; Digital and Flexibility Themes of the Centre for Energy Demand Solutions (CREDS) (ref. EP/R 035288/1).
    JEL: R14 J01
    Date: 2021–10–06
  4. By: Fatoumata Nankoto Cissé (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, I&P - Investisseurs et Partenaires)
    Abstract: This study analyzes the effect of impact evaluation methodologies on the positive and negative outcomes of decentralized solar nano projects in developing countries. Data originate from the Collaborative Smart Mapping of Mini-grid Actions (CoSMMA) developed by the Foundation for Studies and Research on International Development (FERDI). This study is based on a total of 727 tested effects from 10 decentralized solar nano projects which have been measured by experimental and quasi-experimental approaches. Using a multinomial-logit regression shown that randomized and non-randomized evaluation methods have a similar probability of generating a proven favorable outcome on the sustainable development of decentralized solar nano projects. By estimating a complementary log-log model, projects are most often evaluated as successful when effects on education are tested. In addition, a discrepancy of impacts is found between randomized control trials and difference-indifference strategies in proven-unfavorable outcomes of projects. This analysis also highlights the convergence of impacts between randomization and matching techniques on projects implemented in Africa. Findings from this paper provide strong evidence for development practitioners to choose the appropriate impact assessment method.
    Keywords: Matching,Difference-in-difference,Quasi-experimental methods,Randomized control trials,Experimental methods,Meta-analysis,Impact evaluation,Decentralized electrification,Sustainable development
    Date: 2022–03
  5. By: De Groote, Olivier; Gautier, Axel; Verboven, Frank
    Abstract: We analyze the political impact of a generous solar panel subsidization program. Subsidies far exceeded their social benefit and were partly financed by new taxes to adopters and by electricity surcharges to all consumers. We use local panel data from Belgium and find a decrease in votes for government parties in municipalities with high adoption rates. This shows that the voters’ punishment for a costly policy exceeded a potential reward by adopters who received the generous subsidies. Further analysis indicates that punishment mainly comes from non-adopters, who change their vote towards anti-establishment parties.
    Keywords: financing climate policy; photovoltaic systems; retrospective voting, buying votes
    JEL: C23 D72 H23 Q48
    Date: 2022–04–07
  6. By: Alex Hollingsworth; Taylor Jaworski; Carl Kitchens; Ivan J. Rudik
    Abstract: We develop a spatial equilibrium model to evaluate the efficiency and distributional impacts of the leading air quality regulation in the United States: the National Ambient Air Quality Standards (NAAQS). We link our economic model to an integrated assessment model for air pollutants which allows us to capture endogenous changes in emissions, amenities, labor, and production. Our results show that the NAAQS generate over $23 billion of annual welfare gains. This is roughly 80 percent of welfare gains of the second-best NAAQS design, but only 25 percent of the first-best emission pricing policy. The NAAQS benefits are concentrated in a small set of cities, impose substantial costs on manufacturing workers, improve amenities in counties in compliance with the NAAQS, and reduce emissions in compliance counties through general equilibrium channels. These findings highlight the importance of accounting for geographic reallocation and equilibrium responses when quantifying the effects of environmental regulation.
    JEL: F18 Q52 Q53
    Date: 2022–03
  7. By: Afridi, Farzana (Indian Statistical Institute); Debnath, Sisir (Indian Institute of Technology Delhi); Dinkelman, Taryn (University of Notre Dame); Sareen, Komal (Indian Institute of Technology Delhi)
    Abstract: In much of the developing world, cooking accounts for most of women's time in home production. Does reliance on biomass for cooking drive this time burden? To assess time-savings from shifting towards cleaner fuels, we revisit a clean energy information experiment in rural India. Treatment villages were randomly assigned to receive information about negative health effects of cooking with solid fuels and about public subsidies for cleaner Liquid Petroleum Gas (LPG). Using rich time use data and a propensity score matching approach, we estimate that switching towards cleaner cooking fuels could potentially save 19-20 minutes of home production time per day. Exploiting the randomized information nudge and endline data collected one year after the intervention, our intent-to-treat estimate of actual time saved is 5 minutes per day. We discuss why nudges towards cleaner energy use at home are unlikely to generate transformative shifts in women's home production time.
    Keywords: time use, home production, energy use, India
    JEL: O13 J22
    Date: 2022–02
  8. By: Arcusa, Stephanie; Lackner, Klaus
    Abstract: Carbon Dioxide Removal that limits or reduces cumulative emissions for the goal of climate action requires sequestration. The assurance that carbon remains sequestered is colloquially known as permanence. In current certification frameworks, permanence is often ascribed a duration inconsistent with and much shorter than the scientific understanding of the lifetime of carbon in the environment. These frameworks treat “impermanence” as an externality. First, this violates the polluter-pays principle rooted in international law, as it absolves the emitter and storage operator of responsibility. Second, any failure of sequestration threatens intergenerational equity, which is a binding concept in climate treaties. Impermanence can be managed if the responsibility for future losses is clearly delineated. For responsible carbon management, we propose shifting the responsibility for the carbon onto the storage operator. As a result the cost of monitoring the carbon reservoir and re-sequestration of any losses will have to be incorporated into the cost of certificates of carbon sequestration. Internalizing monitoring and re-sequestration put temporary and long-term storage on equivalent footing and allow for both. It therefore would strengthen the likelihood of success in reaching the climate goal and would help bridge a major gap between typically short-lived “natural” solutions and theoretically long-lived “engineered” solutions without compromising intergenerational equity.
    Date: 2022–02–23
  9. By: Anne C. Maduka (Igbariam, Nigeria); Stephen O. Ogwu (University of Nigeria, Nsukka, Nigeria); Chukwunonso S. Ekesiobi (Igbariam, Nigeria)
    Abstract: This study explores the relationship between economic growth and carbon dioxide and the moderating effect of institutional quality in Nigeria from 1990 to 2020, by employing long run and short run dynamic ARDL regression, quartile regression and granger causality test for the estimation. Utilizing CO2 per capita emissions, GDP per capita– a proxy for economic growth, capital stock (CAPSTK) – proxy for capital investment in Nigeria and Control of Corruption and Regulatory Quality (COC and RGQ) which represent the effective environmental regulations and laws put in place for the control and prevention of environmental degradation, the study found a significant cointegration between CO2 emissions and economic growth (lnGDP) in Nigeria. Furthermore, an N-shaped nexus exist between CO2 emissions and economic growth in the long run and short run instead of the inverted U-shape curve postulated by the EKC hypothesis. This was confirmed by both ARDL and quartile regression results. Similarly, InCAPSTK contributed significantly to the growth of CO2 emissions in Nigeria both in the long run and short run, although, the short run did so at 10% significant level. Contrary to expectations, control of corruption (COC), contributes significantly to CO2 emissions in the long run but when it interacts with income (InGDP×COC), it significantly contributes to the reduction of CO2 emissions. More so, Regulatory quality (RGQ) had no significant impact on CO2 emissions in Nigeria either in the long run or short run, even when it interacts with InGDP. This finding is further supported by the quartile regression outcomes and granger causality. The study therefore concludes that CO2 emissions - economic growth nexus in Nigeria assumes an N-shape both in the long run and short run. Based on the results, the study recommends that Government should pursue industrialization policy with sophisticated method of production that will bring about rapid economic progress and at the same time support environmental sustainability.
    Keywords: Regulatory Quality, Control of Corruption, Carbon Emission, Economic Growth, Quartile Regression, Environmental Sustainability
    JEL: O44 Q5 C5
    Date: 2022–01
  10. By: Hoffmann, Maja; Spash, Clive L.
    Abstract: Climate change mitigation – reducing emissions to zero and substituting fossil fuels through renewable energy within a maximum of two decades – entails major consequences for modern industrial societies and economies. Industrial societies are structurally centred and dependent on work, however, the implications for work are insufficiently studied. We conduct an empirical analysis of the impacts of climate mitigation on work across all sectors of the Austrian national economy. Using a mixed methods approach, we investigate all NACE-classified branches of economic activity, the respective number of persons employed, CO2 emissions, fossil fuel use, renewable energy potential, and the societal importance of work. We find that the impacts of climate mitigation on work are far more substantial than the literature usually suggests. Required are significant reductions of work across all sectors, and its structural reorganisation based on an altered energy basis. Yet, potential for deployment of renewable energy technologies is currently not given for many fields of work that are dependent on fossil fuels. While the category of essential work further indicates the kinds of work that may be prioritised in transformation processes, particularly problematic are those deemed both essential for society and incompatible with climate mitigation. The study provides an initial empirical basis for substantiated differentiation of kinds of work regarding these key aspects of climate change mitigation and structural transformation. It also points to the need for institutions to address these challenges and the problematic ways in which work is organised and held sacrosanct in modern society.
    Keywords: climate change mitigation, work, employment,fossil fuels, renewable energy, green jobs, just transition, degrowth, sectoral analysis, structural transformation
    Date: 2021
  11. By: Abdelaaziz Ait Ali; Fahd AZAROUAL; Oumayma Bourhriba; Uri Dadush
    Abstract: The Russian-Ukrainian war will have major economic and political repercussions. In this note, we focus on the war’s economic short and long term implications on the African economy. This conflict comes at very arduous context, where Africa is still struggling to set its economy on the recovery path, amid global inflationary pressures and highly uncertain context. While natural resources countries, especially energy exporters, are sensing opportunities from the crisis, other countries such as Morocco, will be hardly hit by a double whammy of soaring energy and food prices. This will add to their external imbalances and concerns about inflation persistence and the path of their public debt.
    Date: 2022–02
  12. By: De Bruin, Kelly C; Yakut, Aykut Mert
    Date: 2021
  13. By: Christopher Costello; Corbett A. Grainger
    Abstract: Natural resources such as carbon, water, and fish are increasingly managed with markets that require an initial allocation of property rights. In practice these rights are typically grandfathered based on historical use, but rights could be allocated any number of ways. Taking the perspective of a currently unregulated firm, we ask how the anticipation of a future market affects extraction incentives, environmental quality, and welfare prior to the implementation of the market. We show that this anticipation has first-order welfare implications, seemingly contradicting the widely held belief that the allocation of rights has no aggregate welfare consequences. The most egregious case involves anticipation of a traditional grandfathering rule, which induces a race for allocation before the market goes into effect, causing over-extraction or over-emissions, even relative to the completely unregulated baseline. We derive an alternative allocation rule called "Reverse-Grandfathering" that still provides a free allocation of rights but reverses the marginal incentive to emit or extract. We show that this new approach, which relies on incentives due to anticipation, can replicate welfare-maximizing firm behavior, even in the complete absence of regulation. To illustrate the potential magnitude of anticipation effects, we develop and parameterize a structural model of a hypothetical market among nearly 5,000 large fishing firms on the high seas. Relative to traditional grandfathering and auctioning of rights, Reverse-Grandfathering substantially increases natural resource stocks and welfare.
    JEL: Q00
    Date: 2022–02
  14. By: Ho, Thi Thu; Huynh, Cong Minh
    Abstract: The present study attempts to examine the impacts of Environmental Concern (EC), Perceived Consumers Effectiveness (PCE), Attitude Toward Green Products (AGP), and Perceived Environmental Knowledge (PEK) on Green Purchase Intention (GPI) of the young people in provinces of Southeast Vietnam, including Binh Duong, Dong Nai, Long An, Tay Ninh, and Ho Chi Minh City. Results from a survey of 1,200 young respondents show that the AGP has the strongest impact on GPI, following by the PCE and the EC. However, the PEK has no significant impact on GPI. The findings provide empirical evidence for local governments and businesses to promote green consumption in the region.
    Keywords: Attitude toward green products; Environmental concern; Green purchase intention; Perceived consumers effectiveness; Perceived environmental knowledge.
    JEL: M11 M31 Q02 Q56
    Date: 2022–03–10
  15. By: James B. Bushnell; Erich Muehlegger; David S. Rapson
    Abstract: This paper presents evidence that gasoline prices have a larger effect on demand for electric vehicles (EVs) than electricity prices in California. We match a spatially-disaggregated panel dataset of monthly EV registration records to detailed records of gasoline and electricity prices in California from 2014-2017, and use these to estimate the effect of energy prices on EV demand. Two distinct empirical approaches (panel fixed-effects and a utility-border discontinuity) yield remarkably similar results: a given change in gasoline prices has roughly four to six times the effect on EV demand as a similar percentage change in electricity prices. We explore the implications for optimal EV subsidies, which promote externality reduction benefits and correct for consumer misoptimization stemming from the undervaluation of future electricity costs.
    JEL: H23 Q49 Q55 R4
    Date: 2022–03
  16. By: Yaashikaa, P.R.; Kumar, P. Senthil
    Abstract: Energy recovery from waste resources is a promising approach towards environmental consequences. In the prospect of environmental sustainability, utilization of agro-industrial waste residues as feedstock for biorefinery processes have gained widespread attention. In the agro-industry, various biomasses are exposed to different unit processes for offering value to various agro-industrial waste materials. Agro-industrial wastes can generate a substantial amount of valuable products such as fuels, chemicals, energy, electricity, and by-products. This paper reviews the methodologies for valorization of agro-industrial wastes and their exploitation for generation of renewable energy products. In addition, management of agro-industrial wastes and products from agro-industrial wastes have been elaborated. The waste biorefinery process using agro-industrial wastes does not only offer energy, it also offers environmentally sustainable modes, which address effective management of waste streams. This review aims to highlight the cascading use of biomass from agro-industrial wastes into the systemic approach for economic development.
    Keywords: Biorefinery; Agro-industrial waste; Valorization; Circular economy; Energy
    JEL: Q0
    Date: 2022
  17. By: Johan Gars; Daniel Spiro; Henrik Wachtmeister
    Abstract: Following the oil-price surge in the wake of Russia's invasion of Ukraine, many countries in the EU are proposing to cut taxes on petrol and diesel. Using standard theory and empirical estimates, we assess how such tax cuts will influence the oil income in Russia. We find that a tax cut of 20 euro cents per liter would increase Russia's oil profits by around 11-17 million Euros per day in the short run and long run. This is equivalent to 4100-6300 million Euros in a year, 0.3-0.5% of Russia's GDP or 7-11% of its military spending. We show that a cash transfer to EU citizens, with an equivalent fiscal burden as the tax cut, reduces these side effects to a fraction.
    Date: 2022–04
  18. By: Jackson Dorsey; Ashley Langer; Shaun McRae
    Abstract: This paper estimates an imperfect information discrete choice model of drivers’ refueling preferences and analyzes the implications of these preferences for electric vehicle (EV) adoption. Drivers respond four times more to stations’ long-run average prices than to current prices and value travel time at $27.54/hour. EV adopters with home charging receive $829 per vehicle in benefits from avoiding travel to gas stations, whereas refueling travel and waiting time costs increase by $9,169 for drivers without home charging. Increasing the charging speed of the existing network yields 4.7 times greater time savings than a proportional increase in the number of stations.
    JEL: L9 Q42 Q55
    Date: 2022–03
  19. By: Arcusa, Stephanie; Sprenkle-Hyppolite, Starry
    Abstract: Carbon Dioxide Removal (CDR) and carbon sequestration will be necessary to fulfill the hundreds of pledges to reach carbon neutrality by 2050. As with any industry, standard methodologies and certification are crucial to guarantee successful, equitable, and safe activities. However, buyers currently face challenges in evaluating their purchases of “carbon sequestration certificates”. The issue is not with CDR itself, nor with individual certifications – some of which may be very robust – but with the lack of transparency in the market ecosystem for buyers to understand what they are getting and therefore the risk that they are buying low quality. To bring some clarity, we present a snapshot of the carbon sequestration certification market ecosystem. We find an overly complex ecosystem with at least 20 standard developing organizations proposing at least 66 standard methodologies for carbon sequestration from 13 different types of approaches and selling 19 different versions of certificates in voluntary and compliance markets. A targeted evaluation of the certificates' stipulated duration reveals unequal meaning of the word “permanent” with ascribed durations ranging from 15 years to beyond 100 years. This mapping exercise reveals many more existing standards for nature-based than for engineering-based approaches and more diversity from standards serving the voluntary than the compliance market but also highlights a proliferation of standards for the same approach, false equivalence between certificates in terms of stipulated duration of storage, and a plethora of approaches without standards. This mapping highlights key gaps and potential starting points to target reforms.
    Date: 2022–02–23
  20. By: Dan Zhang (China University of Petroleum, IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School); Arash Farnoosh (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School); Frédéric Lantz (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School)
    Abstract: This paper examines the price discovery of three international crude oil futures markets (WTI, Brent, INE) before and after the outbreak of the COVID-19 with the application of the information share and component share model. Our study shows that there is a structural break of the date of March 6, 2020, in each price series with Zivot and Andrew's unit root tests. Using Gregory and Hansen cointegration tests, cointegration relationships with the structural break in May 2020 are detected. According to results of Information Share (IS) and Component Share (CS) measures Brent futures price mainly plays a leading role in WTI and INE futures prices and occupies an absolutely dominant position all the time in the three crude oil futures markets systems. In the post-covid period, the price discovery efficiency of INE has been improved slightly but is still weak compared with other two markets. After the outbreak of COVID-19, the dominant position in price contribution in the relationship with INE has transferred from Brent to WTI. These findings offer practical implications for regulators and portfolio risk managers during the unprecedented uncertainty period provoked by the COVID-19 pandemic.
    Keywords: Oil Market,Price Discovery,Structural Break
    Date: 2022–05
  21. By: Zhou, W.; Moncaster, A.; O’Neill, E.; Reiner, D.; Wang, X.; Guthrie, P.
    Abstract: China is the largest driver of growth in the global building sector. The longstanding construction boom across China has generated a massive flow of materials with significant associated embodied energy consumption and carbon emissions. Despite the serious implications for global emissions, there exist a very limited number of macro-level studies on embodied energy of Chinese buildings, with even fewer exploring future scenarios. There is therefore little in the way of an evidence base to offer policy makers. We develop a probabilistic model to forecast the possible trajectories of embodied energy of residential buildings over the medium to long term in the Chinese urban context. Our results provide clear evidence to substantiate the importance of embodied energy of new construction, which we find to be over 0.3 times the operational energy of existing stock between 2010 and 2018. If current trajectories are followed, embodied energy is likely to peak around 2027, with a 95% credible interval ranging from 87 to 283 Mtce (61 to 198 Mtoe) and a mean of 170 Mtce (119 Mtoe). We show that building lifetime has a substantial impact on future annual and cumulative embodied energy. Our findings reinforce the need to take a whole-life perspective to formulate policies addressing building energy as part of China's efforts to meet the announced overarching target of achieving carbon neutrality by 2060.
    Keywords: Urban residential buildings, embodied energy, dynamic stock turnover, probabilistic model, material intensity, policy implications
    JEL: O18 R21 Q4
    Date: 2022–03–31
  22. By: Díaz-Kovalenko, Igor E.; Torres, José L.
    Abstract: This paper studies the macroeconomic consequences of oil price shocks for small oil-exporting countries as a function of the adopted specific fiscal policy rule related to oil revenues. We focus on the particular case of Ecuador, where a large fraction of fiscal revenues depends on oil revenues, and where a fiscal policy rule implemented in 2008 establishes that public investment is a function of oil revenues. The paper develops a simple two-sector model featuring some key characteristics of the Ecuadorian economy to study the effects of international oil price shocks on macroeconomic volatility and welfare. The paper investigates alternative simple and easy practical implementation of oil revenues-related fiscal rules and compares their effects on economic activity and welfare to the existing one. We argue that a slight modification of the current fiscal rule, by linking public investment to all government revenues and not only to oil revenues, would significantly reduce the volatility of the Ecuadorian economy and cut down the welfare cost of oil price shocks.
    Keywords: Oil exporting countries; Oil price shocks; Oil windfalls; Fiscal rules; Public investment.
    JEL: E32 H3 Q32 Q48
    Date: 2022–03–07
  23. By: Alexius Wadell; Matthew Guttenberg; Christopher P. Kempes; Venkatasubramanian Viswanathan
    Abstract: Enabling widespread electric vehicle (EV) adoption requires substantial build-out of charging infrastructure in the coming decade. We formulate the charging infrastructure needs as a scaling analysis problem and use it to estimate the EV infrastructure needs of the US at a county-level resolution. Surprisingly, we find that the current EV infrastructure deployment scales super-linearly with population, deviating from the sub-linear scaling of gasoline stations and other infrastructure. We discuss how this demonstrates the infancy of EV station abundance compared to other mature transportation infrastructures. By considering the power delivery of existing gasoline stations, and appropriate EV efficiencies, we estimate the EV infrastructure gap at the county level, providing a road map for future EV infrastructure expansion. Our reliance on scaling analysis allows us to make a unique forecast in this domain.
    Date: 2022–04
  24. By: Etienne Romsom
    Abstract: This second of two papers on global oil theft discusses ways to reduce oil theft, misappropriation, and fraud. At US$133 billion per year, oil is the largest stolen natural resource globally, while fuel is the most smuggled natural resource. Oil theft equates to 5-7 per cent of the global market for crude oil and petroleum fuels. It is so engrained in the energy supply chain that thefts are priced in by traders and tolerated by many shipping companies as petty theft.
    Keywords: Oil, Fuel, Corruption, Crime, Tax evasion, Tax avoidance
    Date: 2022
  25. By: Anders Anderson; Harrison Hong
    Abstract: Electric bikes are a potentially important tool to address global warming since they can be a viable alternative to cars in urban areas. Governments are using subsidies to promote household adoption. Welfare analyses are challenging, requiring pass-through estimates from transactions, incidence of non-additionality (i.e. those who would have bought even without the subsidy), and resulting substitution from driving. We combine administrative, insurance and survey data from a large-scale Swedish subsidy program in 2018, which is similar to other programs around world, to evaluate these implications. We find (1) complete pass through of the average $500 subsidy to consumers, (2) a near doubling of E-bikes sold but one-third of adopters are non-additional; and (3) a savings of 1.3 tons of carbon emissions during the life of the E-bike. Combining these estimates, an E-bike subsidy program can only be justified with a social cost of carbon that is several hundred dollars higher than what is typically used.
    JEL: H2 H20 H21 H22 H23 R4 R48 R49
    Date: 2022–04
  26. By: International Monetary Fund
    Abstract: Selected Issues
    Keywords: transport sector emission; C. policy framework; carbon pricing scenario; climate change mitigation policy; employment incentive; Greenhouse gas emissions; Employment; Climate policy; Carbon tax; Global; Europe
    Date: 2022–02–16
  27. By: Elizabeth Chinomona (Vaal University of Technology, P Bag X021, 1900, Vanderbijlpark, South Africa Author-2-Name: Marie Brinda Bikissa-Macongue Author-2-Workplace-Name: Vaal University of Technology, P Bag X021, 1900, Vanderbijlpark, South Africa Author-3-Name: Author-3-Workplace-Name: 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 - Due to their prominent position in the market, construction companies are increasingly required to control and minimise the internal and external environmental impact of their day-to-day activities. To achieve this, all over the world, construction companies have gradually adopted different environmentally-friendly practices promoting the preservation of the environment. Generally, many of these practices are carried out in the area of green supply chain management (GSCM) and logistics performance where there is a great potential to reduce the rate of pollution generated. Therefore, the purpose of the study is to analyse the effective GSCM factors which are green information systems, green packaging, and reverse logistics necessary to improve the logistics performance of their companies. Methodology/Technique - For this study, a quantitative approach was adopted. A judgmental or purposive sampling technique was applied to collect data from 400 respondents. Data were analysed with the aid of two software namely, Statistical package for social science (SPSS 27.0) and Analysis of moment structures (AMOS 27.0). In addition, Confirmatory factors analysis and Structural equation modeling were used to analyse the relationship between constructs and test the hypotheses. Finding/Novelty - In addition, the study implied that construction companies that comply with the different laws and regulations established, develop and implement a green information system, as well as a good reverse logistics system, are more likely to reduce the environmental impact of their activities, while optimising their economic viability. The study suggests that by adopting GSCM and improving their logistics performance, construction companies will be able to improve their environmental performance. Therefore, it is recommended that construction companies keep giving more attention to GSCM and logistics performance as it is the most innovative means by which they can get cost efficiency and environmental responsibility simultaneously. Type of Paper - Empirical"
    Keywords: Green supply chain management; Logistics performance; Reverse logistics; Green packaging, Green information system, Sustainability
    JEL: J33 L1 L7
    Date: 2022–03–31
  28. By: Doll, Claus; Krauss, Konstantin
    Abstract: Die Studie verfolgt das Ziel, das Marktumfeld, Angebote und Erfahrungen geteilter Mobilitätsdienste in Deutschland zu analysieren, sowie Szenarien bis zum Jahr 2030 zu entwickeln. Der analytische Teil fasst den aktuellen Stand des Wissens zu geteilten Mobilitätsdiensten zusammen. Der Modellierungsteil entwickelt anschließend ein bisher in dieser Form neues prognosefähiges Modul geteilter Mobilitätsdienste für das systemdynamische Verkehrs- und Wirtschaftsmodell ASTRA-M des Fraunhofer ISI und wendet dieses auf Metropolen und ländliche Räume in Deutschland an. Carsharing und Ridepooling haben bis 2030 das Potenzial, über zwei Prozent der Wege abzudecken. In Metropolen ist deren Potenzial um etwa 50 % höher; ländliche Räume können jedoch insbesondere über den Ausbau von Ridepooling aufholen. Die größte Nachfragewirkung entfalten ökonomische Instrumente wie Pkw-Abgaben und der CO2-Preis. Durch den zusätzlichen Ausbau des ÖPNV lassen sich 24 % Treibhausgasemissionen gegenüber 2020 einsparen. Eigenwirtschaftliche Geschäftsmodelle geteilter Mobilitätsdienste bleiben auch bei höherer Nachfrage schwierig und hängen stark vom politischen Rahmen ab.
    Date: 2022
  29. By: Sharpe, Samantha.; Veem, Katarina.; Kallio, Karina.; Martinez Fernandez, Maria Cristina.
    Abstract: The impact of COVID-19 on the textile and garment sector in Asian countries has been and continues to be immense, and may last for a very long time. While countries in the West are emerging from the pandemic with some optimism that life will soon return to pre-pandemic levels, new COVID-19 outbreaks in Asia are pushed back hopes for a recovery in 2021 and the health and mental effects in communities are challenging pre-pandemic achievements related to the United Nations’ Sustainable Development Goals.This paper examines the impact of the COVID-19 pandemic on the textile and garment sector, specifically the employment and enterprise impacts, and contextualizes these within the wider development impacts of the sector – social, economic and environmental; both positive and negative – to ask the question: how sustainable is the sector? A Just Transition for the garment industry in Asia is critical as the sector seeks to recover from the impacts of COVID-19. This recovery comes also in a critical decade of action for achieving the Paris Agreement and the Sustainable Development Goals, both of which will also alter the future of work in the sector. The pandemic has highlighted that vulnerability is not equally shared across the supply chain, so too for carbon emissions, with emissions concentrating in specific production activities, and these activities geographically concentrated in certain hot-spots – areas that are both highly reliant on the textile and garment sector, but also highly vulnerable to supply chain disruptions and other impacts on the sector. This creates a strong spatial dimension to the need for planning for a Just Transition in the industry; hot spots in local areas can be turned into opportunities for accelerated community action to “build back better”.
    Keywords: clothing industry, employment, enterprise, sustainable development, COVID-19
    Date: 2022
  30. By: Sinha, Avik; Adhikari, Arnab; Jha, Ashish Kumar
    Abstract: Purpose: This study attempts to analyze the socio-ecological policy trade-off caused by technological innovations in the post-COVID-19 era. The study outcomes are utilized to design a comprehensive policy framework for attaining sustainable development goals. Design/methodology/approach: Study is done for 100 countries over 1991-2019. Second-generation estimation method is used. Innovation is measured by total factor productivity, environmental quality is measured by carbon dioxide (CO2) emissions, and social dimension is captured by unemployment. Findings: Innovation-CO2 emissions association is found to be inverted U-shaped and Innovation-Unemployment association is found to be U-shaped. Research implications: Study outcomes show the conflicting impact of technological innovation leading to policy trade-off. This dual impact of innovation is considered during policy recommendation. Social Implications: Policy recommendations in the study show a way to internalize the negative social externality exerted by innovation. Practical implications: The policy framework recommended in the study shows a way to address the objectives of SDG 8, 9, and 13 during post-COVID-19 period. Originality/value: This study contributes to the literature by considering the policy trade-off caused by innovation and recommending an SDG-oriented policy framework for the post-COVID-19 era.
    Keywords: Innovation, SDG, COVID, CO2 emissions, Unemployment
    JEL: Q4 Q5
    Date: 2021
  31. By: Kazeem Isah; Abdulkader Cassim Mahomedy; Elias Udeaja; Ojo Adelakun; Yusuf Yakubua
    Abstract: Motivated by the distinctive paradoxical nature of the Nigerian economy as the only OPEC oil-exporting economy that yet depends heavily on the importation of gasoline, we are compelled to re-examine the accuracy of the oil-based augmented Philips curve model in the predictability of inflation. Using quarterly data from 1970 to 2020, we investigate whether including the exchange rate into the oil price-based augmented Phillips curve improves the accuracy of forecasting inflation for the Nigerian economy. We rely on the outcomes of our preliminary analysis to account for the presence of endogeneity, persistence, and conditional heteroscedasticity in the predictability of inflation following the Westerlund & Narayan (2015) procedure. We find the extended variant of the oil price-based Phillips curve model that includes the exchange rate pass-through as most accurate for improving inflation forecasts in Nigeria. Given the robustness of our results from several models, we conclude that the exchange rate channel through which shocks to the oil price transmit into the economy is essential for forecasting inflation.
    Keywords: Nigeria, Inflation forecasts, Phillips curve, Oil price-exchange rate asymmetry
    JEL: E53 E31 E37
    Date: 2022–02
  32. By: Nikolai Cook, Anthony Heyes (Wilfrid Laurier University)
    Abstract: While contemporaneous exposure to polluted air has been shown to reduce labor supply and worker productivity, little is known about the underlying channels. We present first causal evidence that psychological exposure to pollution - the "thought of pollution" - can influence employment performance. Over 2000 recruits on a leading micro-task platform are exposed to otherwise identical images of polluted (treated) or unpolluted (control) scenes. Randomization across the geographically-dispersed workforce ensures that treatment is orthogonal to physical pollution exposure. Treated workers are less likely to accept a subsequent offer of work (labor supply) despite being offered a piece-rate much higher than is typical for the setting. Conditional on accepting the offer, treated workers complete between 5.1% to 10.1% less work depending on the nature of their assigned task. We nd no effect on work quality. Suggestive evidence points to the role of induced negative sentiment. Decrements to productivity through psychological mechanisms are plausibly additional to any from physical exposure to polluted air.
    Keywords: Air Pollution, Gig Economy, Randomization, Labor Productivity
    JEL: Q53 J24
    Date: 2022
  33. By: Hansjörg Blöchliger; Sigurdur Johannesson; Marias Halldor Gestsson
    Abstract: This paper studies the potential impact of higher carbon taxation - to reach the government’s emission targets by 2030 - on Iceland’s economy. The paper is divided into two parts. First, a DSGE modelling exercise suggests that the equivalent of an oil price hike of between 30% and 55% is needed to reach the 2030 target, implying a GDP decline of between 0.3% and 0.6% by 2030. The impact on inflation would be very small. Second, a panel regression for the fishing industry reveals that a 40-50% oil price hike would be sufficient to reduce the entire fishing fleet’s emissions by 10%, raising total factor costs for the fishing companies by 4-5%. Such a cost hike would hardly threaten the competitiveness of the fishing industry. Both approaches assume that a carbon tax rise would have no effect on production technology.
    Keywords: carbon tax, DSGE modelling, environmental economics, fisheries, Iceland
    JEL: C68 H23 Q22
    Date: 2022–04–08
  34. By: Jean-Marc Lairaudat (VALLOREM - Val de Loire Recherche en Management - UT - Université de Tours - UO - Université d'Orléans)
    Abstract: The purpose of this communication is to highlight that the past determines the present and can still help the French historic energy company and its agents to plan and invent their future. The main issue of our communication is thus posed: to what extent can EDF's past and the symbolic capital of its agents allow it to preserve its reputation as a social enterprise, a fortiori vis-à-vis customers in situation of fuel poverty? The central hypothesis of our study is that the diversity of forms of internal solidarity specific to large public service organizations is found in the way agents adapt to transformations and fulfill their missions vis-à-vis customers in difficulty. The symbolic capital that has aggregated over time among agents practically contributes to preserving the social reputation of the company, despite its deinstitutionalization combined with other organizational phenomena.
    Keywords: Cultural History,energy sector & business,welfare state,France in 20th Century,sociology of organizations,Innovation
    Date: 2021–09–09
  35. By: International Monetary Fund
    Abstract: Selected Issues
    Keywords: trade diversification; B. trade composition; trade logistics; fuel subsidy; conversion plan; exchange rate shock; Energy subsidies; Inflation; Labor force; Exports; Fuel prices; Global; Sub-Saharan Africa; Africa
    Date: 2022–02–09
  36. By: Sharafi, Abdullah (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)
    Abstract: The UAE has long set itself apart from other members of the Organization of Petroleum Exporting Countries (OPEC) by successfully reducing its dependence on oil exports and diversifying its economy to focus on industries such as tourism, media, technology, and real estate. The economy’s innovation capacity expanded when businesses and properties were allowed to be 100pc owned by non-nationals. However, the UAE must learn from its own experiences and those of other nations to further improve its innovation ecosystem, such as by tackling legacy rentier institutions and laws that prevent it from transforming into a fully modern sustainable economy.
    Date: 2022–03–23
  37. By: Sharpe, Samantha.; Dominish, Elsa.; Martinez Fernandez, Maria Cristina.
    Abstract: This paper examines carbon emissions across the garment sector as counted using the two prominent methodologies for calculating emissions – the life cycle assessment (LCA) and carbon accounting in line with the Greenhouse Gas Protocol. The purpose of this paper is to provide insight into where and why the carbon intensity of textiles and garments varies across the supply chain and where activities to decarbonize the sector should be prioritized.
    Keywords: environmental protection, clothing industry, textile industry, pollution control
    Date: 2022
  38. By: Yaya, OlaOluwa S.; Vo, Xuan Vinh
    Abstract: Day-of-the-week persistence and seasonality of electricity prices in Spain, spanning 01/01/2006 to 04/11/2021, are investigated by employing updated fractional persistence frameworks in nonlinear settings. The results show marginal higher persistence in electricity prices during the working days (Tuesday, Wednesday, Thursday and Friday), compared to weekend days. In all cases, electricity prices are mean-reverting with long-range dependence properties. Results also show that the monthly electricity price series contain no seasonal effect.
    Keywords: Electricity prices; Fractional persistence; Unit root; Day-of-the-week effect; seasonality; Spain
    JEL: C22 Q47
    Date: 2021–12–15
  39. By: Brühl, Volker
    Abstract: The financial sector plays an important role in financing the green transformation of the European economy. A critical assessment of the current regulatory framework for sustainable finance in Europe leads to ambiguous results. Although the level of transparency on ESG aspects of financial products has been significantly improved, it is questionable whether the complex, mainly disclosure-oriented architecture is sufficient to mobilise more private capital into sustainable investments. It should be discussed whether a minimum Taxonomy ratio or Green Asset Ratio has to be fulfilled to market a financial product as "green". Furthermore, because of the high complexity of the regulation, it could be helpful for the understanding of private investors to establish a simplified green rating, based on the Taxonomy ratio, to facilitate the selection of green financial products.
    JEL: G10 G20
    Date: 2022
  40. By: Eichenauer, Eva; Irmisch, Janne; Ulrich, Peter
    Abstract: Dieser Forschungsbericht diskutiert mögliche Entwicklungspfade für Städte und ländliche Räume in ganz Deutschland. Im Rahmen des BMWi-Projekts "ESRa - Energiewende im Sozialen Raum (2020-2022)" wurden für die Stadt Berlin und den Landkreis Spree-Neiße exemplarisch narrative Szenarien zur Umsetzung der Energiewende entwickelt. Narrative Szenarien können die räumliche und gesellschaftliche Einbettung der Energiewende abbilden und sind eine geeignete Ergänzung zu technischen Klimaneutralitätsszenarien. Aufgrund der hohen Bedeutung der gesellschaftlichen Akzeptanz und der regionalen Verflechtungen sind diese Aspekte integraler Bestandteil der Szenarien.
    Date: 2022
  41. By: Athauda, Nelsha; Zozmann, Heinrich; Maiwald, Linda; Klassert, Christian; Klauer, Bernd
    Abstract: [Background] The 1992 United Nations Conference on Environment and Development made the first call for the creation of sustainability indicators to measure the changes in the social, economic, political, and physical factors of sustainability. Different concepts of carbon (Rees, 1992) and water footprints (Hoekstra, 2011) have emerged as indicators that provide stakeholders with easily understandable information on the environmental effects of their resource consumption. However, footprint models are usually focused on measuring the extent to which a single resource is used which provides limited information on the interdependencies between intertwined resource systems. Resource systems are frequently integrated and dependent on each other. A particular example of this, which received significant attention in recent years, is the nexus between food, water, and energy (FWE) (Daher & Mohtar, 2012). One example out of many potential interdependencies among FWE resources is the impact of energy cost on irrigated agriculture, which can in turn affect the availability of certain food crops (Komendantova et al., 2020). Such interdependencies within the nexus have not received sufficient attention in research so far, despite their importance for finding pathways towards sustainable resource use. The Nexus Footprint is an emerging indicator (Maiwald, 2021; Shu et al., 2021; Wahl et al., 2021) that aims to quantify the intersections within the highly interconnected FWE web of a given region. The set of values comprising the Nexus footprint are the values for the direct consumption of food, water, and energy, as well as the water footprint of food, the water footprint of energy, the carbon footprint of food, and the carbon footprint of water. The purpose of the Nexus Footprint model is to provide values allowing stakeholders to identify and visualize trends in urban resource consumption as well as to provide a scientific basis for objective comparison (Wahl et al., 2021).
    Date: 2022

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