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on Energy Economics |
| By: | David Newbery |
| Keywords: | Social cost of carbon, variable renewable electricity, marginal curtailment |
| JEL: | H23 L94 Q28 Q42 Q48 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2320&r=ene |
| By: | John Bistline; Kimberly A. Clausing; Neil Mehrotra; James H. Stock; Catherine Wolfram |
| Abstract: | With the expiration of many tax cuts and unmet climate targets, 2025 could be a crucial year for climate policy in the United States. Using an integrated model of energy supply and demand, this paper aims to assess climate policies that the U.S. federal government may consider in 2025 and to evaluate emissions reductions, fiscal costs and revenues, and household energy expenditures across a range of policy scenarios. Model results suggest that the emissions reductions of the Inflation Reduction Act are significantly augmented under scenarios that add a modest carbon fee or, to a lesser extent, that implement a clean electricity standard in the power sector. Second, net fiscal costs can be substantially reduced in scenarios that include a carbon fee, especially if fossil fuel exports are taxed. Third, expanding the IRA tax credits yields modest additional emissions reductions with higher fiscal costs. Finally, although none of the policy combinations across these scenarios achieve the U.S. target of a 50-52% economy-wide emissions reduction by 2030 from 2005 levels, the carbon fee and clean electricity standard scenarios achieve these levels between 2030 and 2035. |
| JEL: | H23 Q48 Q54 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32168&r=ene |
| By: | Andrei Covatariu; Daniel Duma; Monica Giulietti; Michael G. Pollitt |
| Keywords: | Distribution system operator, distributed energy resources, decarbonisation |
| JEL: | L94 L95 |
| Date: | 2023–07 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2315&r=ene |
| By: | Paul Simshauser |
| Keywords: | Renewable energy zones, dynamic line ratings, frequency control ancillary services, variable renewable energy |
| JEL: | D52 D53 G12 L94 Q40 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2321&r=ene |
| By: | David Newbery |
| Keywords: | Renewable electricity, marginal wind curtailment, integration costs, market failures, inertia charges |
| JEL: | H23 L94 Q28 Q42 Q48 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2319&r=ene |
| By: | Muez Ali (Center for a Sustainable Future, Qatar Foundation, Qatar); Abdalftah Hamid (Center for a Sustainable Future, Qatar Foundation, Qatar); Gonzalo Castro de la Mata (Center for a Sustainable Future, Qatar Foundation, Qatar); Alex Amato (Center for a Sustainable Future, Qatar Foundation, Qatar) |
| Abstract: | Qatar exports most of its LNG to South Korea, Japan, China and India. Most of Qatar’s export markets have carbon-intensive economies where industry contributes, on average, 32% to total GDP. This paper attempts to estimate the reductions in carbon dioxide emissions due to Qatar’s LNG displacing more carbon-intensive fuels in Qatar’s main export markets. LNG emits almost 50% less carbon dioxide than coal and 30% less carbon dioxide than oil products. Therefore, LNG is a cleaner alternative to coal and oil products, particularly in the power sector and industry. Using data from the IEA, EIA and the World Bank, we estimate the reductions in carbon dioxide emissions due to Qatar’s LNG replacing more carbon-intensive fuels in Qatar’s export markets by assuming a hypothetical scenario where Qatar’s LNG disappears from the global energy mix between 2005 and 2020. We estimate an upper bound where all of Qatar’s LNG is replaced by coal and a lower bound where Qatar’s LNG is replaced by all fuels in the energy mix in proportion to their existing shares. Finally, using a stochastic approach, we develop a ‘most likely’ scenario that considers the annual growth rate in coal consumption and the share of coal in the energy mix.The same analysis is conducted for a scenario that projects energy consumption and emissions to 2040. The results of the analysis show that between 2005 and 2020, in the ‘most likely’ scenario, by replacing coal and other carbon-intensive fuels, Qatar’s LNG exports likely reduced global emissions by more than 600 MtCO2. During the same period, these emission reductions amounted to 40% of Qatar’s annual local emissions on average. However, in the future scenario, emission reductions due to Qatar’s LNG exports decrease significantly and the gap between Qatar’s local emissions and how much it offsets by exporting LNG grows over time. This is mainly due to the phase out of coal from global energy systems. We conclude with policy recommendations on how Qatar can close the gap between its local emissions and how much it offsets through LNG exports. |
| Date: | 2024–01–20 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1702&r=ene |
| By: | Sandra Batten; Stephen Millard |
| Abstract: | We build an open economy Dynamic Stochastic General Equilibrium model with energy and use it to simulate the impact of different climate policies – specifically the introduction of a carbon tax and bans on petrol or gas usage by households – on macroeconomic variables. We show how the introduction of a carbon tax leads to falls in both households' consumption of energy and firms' use of energy in production, while also having the effect of shifting the production of electricity from fossil fuels to renewable sources. The effects of a ban on household consumption of petrol or gas depend crucially on the elasticity of substitution between different energy sources in consumption. For very low elasticities of substitution, a ban on petrol or gas usage also led households to cut down on their use of electricity, whereas for larger elasticities of substitution, households switched into electricity. Regardless of the elasticity of substitution, aggregate consumption fell on impact in response to the bans before rising over time. GDP and the gross output of non-energy fall in response to both a carbon tax and a ban on petrol or gas consumption by households. Finally, both policies result in a temporary increase in inflation and a tightening in monetary policy. |
| Keywords: | Climate Change, Dynamic Stochastic General Equilibrium, Carbon Tax, Climate policy, Energy, Energy policy, Renewable energy, Macroeconomics, UK economy |
| JEL: | Q28 Q38 Q43 Q48 Q58 E32 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:nsr:niesrd:553&r=ene |
| By: | Nandeeta Neerunjun; Hubert Stahn |
| Abstract: | This paper is essentially based on the assumption that policies supporting investment in intermittent renewable technologies cannot be contingent on meteorological events causing this intermittence. This decision was taken by most policymakers to avoid overly complex policy prescriptions. But in doing so, the first-best energy mix may be out of reach. We compare, in a unified second-best setting, the feed-in tariff, renewable premiums and tradable green certificates policy. We consider a “two-period, S-state” model. The S states reflect intermittency. Production decisions for renewable electricity are taken prior to the resolution of the uncertainty while the fossil-fuel sector adjusts its decision in each state. Retailers buy electricity on a state-dependent wholesale market which they deliver to consumers according to a fixed-tariff or a real-time-pricing contract. All these elements matter in the efficiency assessment of these policies. |
| Keywords: | Intermittency, Renewables, Feed-in Tariff, Premiums for Renewable, Tradable Green Certificates |
| JEL: | D24 D61 D62 Q41 Q42 Q48 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:gbl:wpaper:2024-02&r=ene |
| By: | Gregor Singer |
| Abstract: | The transition from traditional labor intensive to modern capital intensive production is a key factor for industrial development. Using half a million observations from Indian manufacturing plants, I analyze the effects of a secular decrease in industrial electricity prices through the lens of a model with technology choices and complementarities between electricity and capital inputs. Using instrumental variables, I show how lower industrial electricity prices can increase both labor productivity and electricity productivity. Apart from positive effects on firm economic and environmental performance, cost-price pass through significantly benefitted consumers, and the productivity improvements limited increases in carbon emissions. |
| Keywords: | industrial development, energy efficiency, electricity productivity, labor productivity, electricity prices, coal prices, incidence, climate policy |
| JEL: | Q41 D24 D22 O14 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10944&r=ene |
| By: | Carolina B. Resende; Alessandro V. M. Oliveira |
| Abstract: | In recent years, the topic of global warming and greenhouse gas emissions has been increasingly in the media. This theme has raised various flags, showing concern for the future and seeking alternatives for a more sustainable life over the years. When studying greenhouse gas emissions, one of the main emitters of such gases is the burning of fuels, in which transport vehicles that depend on gas and oil are included. In this respect, air transport through aircraft is one of the sources emitting such gases. Aiming to reduce gas emissions, one of the ways to do this is by reducing fuel consumption; for this, aircraft would have to be more efficient, or the offer and demand for flights would be reduced. However, what if aircraft fuel consumption were taxed? What would be the effects of this on air transport? Could this be one of the alternatives to reduce emissions? To understand this relationship between taxation and a possible reduction in fuel consumption, a study was developed by the Aeronautics Institute of Technology (ITA), using an econometric model to understand how demand would be affected by changes in airfares. In addition, a simulation of possible environmental taxes on the values of air tickets was carried out to analyze the demand response and to get an idea if this taxation would really solve the emission problems. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.12404&r=ene |
| By: | David Newbery; Darryl Biggar |
| Keywords: | Transmission constraints, access regimes, variable renewable electricity, marginal curtailment, nodal pricing |
| JEL: | H23 L94 Q28 Q42 Q48 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2401&r=ene |
| By: | Rangrang Zheng; Greg Schivley; Patricia Hidalgo-Gonzalez; Matthias Fripp; Michael J. Roberts |
| Abstract: | Solar and wind power are cost-competitive with fossil fuels, yet their intermittent nature presents challenges. Significant temporal and geographic differences in land, wind, and solar resources suggest that long-distance transmission could be particularly beneficial. Using a detailed, open-source model, we analyze optimal transmission expansion jointly with storage, generation, and hourly operations across the three primary interconnects in the United States. Transmission expansion offers far more benefits in a high-renewable system than in a system with mostly conventional generation. Yet while an optimal nationwide plan would have more than triple current interregional transmission, transmission decreases the cost of a 100% clean system by only 4% compared to a plan that relies solely on current transmission. Expanding capacity only within existing interconnects can achieve most of these savings. Adjustments to energy storage and generation mix can leverage the current interregional transmission infrastructure to build a clean power system at a reasonable cost. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.14189&r=ene |
| By: | Malte Schlosser (University of Zurich); Ester Trutwin (University of Zurich); Thorsten Hens (University of Zurich - Department of Banking and Finance; Norwegian School of Economics and Business Administration (NHH); Swiss Finance Institute) |
| Abstract: | We examine whether a company’s green and high–quality innovative strength is related to its environmental impact and what the implications are for its financial performance. By analyzing WIPO patent data and MSCI ESG data, we reveal a notable positive and statistically significant impact of possessing more green patents on a company’s carbon emissions score. Further, we find that the patent related increase in carbon emissions score is driven by the high–quality green patents. Our analysis validates the positive influence of green and high–quality innovation strength on both the E and ESG scores. Despite the positive impact on the environment, investors do not need to sacrifice returns. Investment strategies which invest in companies within the top decile of green patents or green patents ratio do not perform worse than the market. |
| Keywords: | WIPO, Green Innovations, Carbon Emissions Score, ESG Scores, Correlation Analysis, Performance Analysis, Fama–French Analysis |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2418&r=ene |
| By: | Caterina Seghini (University of Geneva and Swiss Finance Institute) |
| Abstract: | This paper investigates the trade-offs between managing the financial sustainability of public debt and addressing climate change. Mitigation efforts and increasing temperatures imply economic costs that reduce countries’ growth rates, respectively in the short and in the long term. This can make the repayment of outstanding debt more difficult. I explore and quantify the evolution of debt limits –maximum sustainable debt-to-GDP– for advanced economies, under various scenarios, which respect, or not, the carbon budget constraints of the Paris Agreement. Various scenarios are analysed according to the costs of emissions’ abatement and the political coordination among countries in the transition. The evidence shows that failing to enforce a slowdown in emissions at a global level, and to stabilize climate damages, generate plunging debt limits in the medium-long term and shrinking fiscal spaces for all countries, even for the few ones actuating the transition. On the contrary, if the green transition is coordinated globally, debt limits converge to stable and higher levels, despite an initial and temporary decrease, given by the negative impact of emission reductions on GDP growth rates. From the evidence presented, it results as significantly more beneficial for countries to collaboratively and promptly transition towards mitigating climate impacts on growth and fiscal spaces. This will support sustainable public debt and the potential to finance the green evolution of our economies. |
| Keywords: | Sovereign Debt, Fiscal Limits, Climate Change, Mitigation Policies |
| JEL: | E63 H63 O44 Q54 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2415&r=ene |
| By: | Fethi Amri (University of Gabes) |
| Date: | 2023–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1700&r=ene |
| By: | Casas Ferrús, M. Nieves (RWTH Aachen university); Ruhnau, Oliver (Faculty of Economics and Institute of Energy Economics University of Cologne); Madlener, Reinhard (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)) |
| Abstract: | This article investigates temporal matching requirements for green hydrogen. While previous studies found that a more granular matching increases production costs, we focus on cost advantages under hourly matching through technological and geographical diversification. To quantify the resulting portfolio effects, we further develop and apply a linear cost-optimization model. We identify two types of portfolio effects, “technological” and “locational”, and quantify them for different portfolio sizes and types of electricity generation technologies. We find portfolio effects in the range of 3–7% when aggregating two locations, and up to 21% for a Germany-wide portfolio. We discuss the implications of our findings in terms of discrimination against small players and for the modeling of temporal matching requirements. |
| Keywords: | Green hydrogen; renewable energy; portfolio effects; risk diversification |
| JEL: | Q42 Q48 Q58 |
| Date: | 2023–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:fcnwpa:2023_018&r=ene |
| By: | S. J. Newman; K. Schulte; M. M. Morellini; C. Rahal; D. Leasure |
| Abstract: | Policies to reduce transport emissions often overlook the international flow of used vehicles. We quantify the rate at which used vehicles generated CO2 and pollution for all used vehicles exported from Great Britain; a globally leading used vehicle exporter across 2005-2021. Destined for low-middle-income countries, exported vehicles fail roadworthiness standards and, even under extremely optimistic functioning as new assumptions, generate at least 13-53 percent more emissions than scrapped or on-road vehicles. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.13807&r=ene |
| By: | Akin A. Cilekoglu (University of Barcelona) |
| Abstract: | In this paper, I examine how allowances allocation affected emissions of power sector installations in the EU ETS following the Paris Agreements. The dataset I use covers the 2010-2022 period, includes the emissions and allowances of 4, 498 installations operating in power sector across the 27 Member States of the European Union. I discover that installations receiving lower allowances in the first quartile (Q1) reduced their emissions by 3.5% from 2016 to 2022 compared to the 2010-2015 period. I find no evidence on the installations in second, third and fourth quartiles due to the country specific developments. I also show that country characteristics have a crucial role in policy effectiveness because the emissions of installations located in lower-income Member States entered into the EU at later stages did not fall. |
| Keywords: | Emissions, Paris Agreement, Power sector, Climate change. JEL classification: Q40, Q48, O13, H32, L25. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:aqr:wpaper:202401&r=ene |
| By: | Celso Brunetti; Marc Joëts; Valérie Mignon |
| Abstract: | We analyze the content of the Organization of the Petroleum Exporting Countries (OPEC) communications and whether it provides information to the crude oil market. To this end, we derive an empirical strategy which allows us to measure OPEC's public signal and test whether market participants find it credible. Using Structural Topic Models, we analyze OPEC narratives and identify several topics related to fundamental factors, such as demand, supply, and speculative activity in the crude oil market. Importantly, we find that OPEC communication reduces oil price volatility and prompts market participants to rebalance their positions. Our analysis indicates that market participants assess OPEC communications as providing an important signal to the crude oil market. |
| Keywords: | OPEC Announcements; Structural Topic Models; Volatility; Traders’ Positions |
| JEL: | G10 Q35 Q40 C45 C50 |
| Date: | 2024–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgfe:2024-03&r=ene |
| By: | Dammann, Felix (Center for Mathematical Economics, Bielefeld University); Ferrari, Giorgio (Center for Mathematical Economics, Bielefeld University) |
| Abstract: | This paper proposes and analyzes a stationary equilibrium model for a competitive industry which endogenously determines the carbon price necessary to achieve a given emission target. In the model, firms are identified by their level of technology and make production, entry, and abatement decisions. Polluting firms are subject to a carbon price and abatement is formulated as an irreversible investment, which entails a sunk cost and results in the firms switching to a carbon neutral technology. In equilibrium, we identify a carbon price and a stationary distribution of incumbent, polluting firms, that guarantee the compliance with a certain emission target. Our general theoretical framework is complemented with a case study with Brownian technology shocks, in which we discuss some implications of our model. We observe that a carbon pricing system alongside installation subsidies and tax benefits for green firms trigger earlier investment, while higher income taxes for polluting firms may be distorting. Moreover, we discuss the role of a welfare maximizing regulator, who, by optimally setting the emission target, may mitigate or revert some parameters’ effects observed in the model with fixed limit. |
| Date: | 2024–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:bie:wpaper:688&r=ene |
| By: | Paul Simshauser; David Newbery |
| Keywords: | Renewables, network congestion, curtailment, marginal curtailment, renewable energy zones |
| JEL: | D52 D53 G12 L94 Q40 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2322&r=ene |
| By: | Lin, Chen (U of Hong Kong); Schmid, Thomas (U of Hong Kong); Weisbach, Michael S. (Ohio State U and ECGI) |
| Abstract: | How does demand uncertainty affect firms' investment decisions? We consider this issue from the perspective of electricity-producing firms and their planned investments in new power plants. Using plausibly exogenous variations in temperature predictions across scientific climate models to measure uncertainty about future electricity demand, we find that uncertainty increases investments in plants with flexible production technologies but depresses non-flexible investments. The net effect of uncertainty on investments is positive if firms have access to flexible investment opportunities. These results are consistent with models in which the impact of uncertainty on investments depends on the investments' production flexibility. |
| JEL: | G30 G31 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:ohidic:2023-23&r=ene |
| By: | Camilla Chlebna (Department for Geography, Kiel University, Ludewig-Meyn-Straße 8, 24118 Kiel, Germany); Jannika Mattes (Carl von Ossietzky University Oldenburg, Ammerländer Heerstraße 114-118, 26129 Oldenburg, Germany) |
| Keywords: | Regional transition fields, energy transition, organisational institutionalism, strategic action fields, wind energy |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:aoe:wpaper:2401&r=ene |
| By: | Adam Fuller (Economics Section, Colorado Public Utilities Commission); Steven M. Smith (Department of Economics and Business and Hydrologic Science and Engineering, Colorado School of Mines) |
| Abstract: | Utilities provide essential services that underpin social welfare and economic activity. There is a robust literature on how to best organize the provision of these activities, but no consensus has emerged on the presence and extent of economies of scope in the utility sector. We consider how the scope of a utility relates to residential prices. In contrast to the existing literature, our study focuses on utilities within the US and that provide services across distinct sectors (water and electricity), and we directly consider price implications. Specifically, we draw on surveys in 2017 and 2021 of around 400 water utilities --- 14 percent of which also provide electricity --- to generate empirical evidence on where joint water-electric utilities tend to operate and their association with retail prices for water and electricity. We find that smaller and less wealthy places are more likely to have joint water-electric utilities, as are cooler and drier places. More notably, we find significant evidence that water charges are 21 percent lower among the joint utilities than water only utilities. Ancillary data and analysis suggest electricity rates are also lower, indicating significant economies of scope are available. Our evidence addresses canonical gaps related to questions of the boundary of the firm and economies of scope in this important supply node of the water-energy nexus that can inform considerations of restructuring the provision of these services. |
| Keywords: | utilities, boundaries of the firm, residential electricity, residential water |
| JEL: | D23 L25 L97 Q25 Q41 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:mns:wpaper:wp202402&r=ene |
| By: | Habibi Asgarabad, Mojtaba (Norwegian University of Science and Technology); Vesely, Stepan; Klöckner, Christian Andreas (Norwegian University of Science and Technology) |
| Abstract: | Background and Aims: In the context of the ENCHANT project, we conducted a clustering analysis to categorize Norwegian participants in an electricity-saving program based on environmental concerns, personal norms, gender, educational level, social status, age, family size, and the ages of their children. Subsequently, we examined variations in Electricity Consumption per person normalized to seven days (EC), the access to Electricity Assets in the Household (EAH), Perceived Behavioral Control of electricity-saving tips (PBC), and Energy Poverty Risk (EPR) across different clusters. Participants: A sample of 1, 135 Norwegians (508 females; mean age = 49.14, SD age = 12.86; age range = 23–86) participated in the study. Results: Two-step cluster analysis resulted in five distinct clusters: (i) multi-generational households with moderate concern, (ii) eco-ease in midlife, (iii) middle-aged females in medium-sized households, (iv) growing families with moderate concerns, and (v) moderate advocates with adolescents. Analysis of variance indicated significant variations in mean scores of EC, access to EAH, and PBC across clusters (p < .01), with no significant difference in terms of the REP among the clusters (p > .05). Discussion: Discernible pattern indicated that families with teenagers, characterized by a lower environmental concern, tend to exhibit higher electricity usage per person compared to their counterparts with moderate and high environmental concern, even in instances where there are old-aged parents present. This information can guide targeted strategies to promote electricity efficiency, especially for younger families and those with teenagers, who may face distinct challenges in adopting electricity-saving practices. Building on these findings, future research could delve deeper into the specific challenges that younger families and households with teenagers encounter in adopting electricity-saving practices. Key messages: 1. Our finding highlights the predominant influence of structural factors, such as household size and the number and age of children, on electricity consumption patterns. 2. Clusters with moderate environmental concern displayed variations in electricity use, challenging the assumption that higher environmental concern necessarily leads to lower energy consumption. 3. The identified clusters, each with distinct profiles and behaviors, suggest the need for tailored interventions. |
| Date: | 2024–02–21 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:gd5ra&r=ene |
| By: | Hutchings, Siobhan (Monash University) |
| Abstract: | We use an online experiment and survey to establish that consumers are misinformed about electric vehicles and that correcting misinformation has little impact on preferences for electric vehicles but some impact on electric vehicle policy preferences. Specifically, correcting misperceptions does not change consumers’ willingness to support pro-electric vehicle government initiatives but does cause specific EV policies to be preferred more or less. We estimate the effect of correcting misinformation by employing two information treatments : an informative narrative and a fact sheet. These treatments successfully make electric vehicle perceptions more accurate, but neither narratives nor fact sheets are more successful at correcting misperceptions. We determine preferences using survey questions, relying on indirect and incentivised questions to rule out the influence of social desirability bias on participants’ responses. |
| Keywords: | Consumer preferences ; Behavioral economics ; Electric vehicles ; Survey experiments ; Information treatments JEL classifications: C83 ; C90 ; D12 ; D83 ; D91 ; L62 ; Q48 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:wrkesp:74&r=ene |
| By: | Xiaopeng Si (School of Tourism and Cuisine, Harbin University of Commerce, Harbin); Zi Tang (School of Tourism and Cuisine, Harbin University of Commerce, Harbin) |
| Abstract: | Climate change has become an unavoidable problem in achieving sustainable development. As one of the major industries worldwide, tourism can make a significant contribution to mitigating climate change. The main objective of the paper is to assess the development level of low-carbon tourism from multi-aspect, using the Yellow River Basin as an example. Firstly, this study quantified tourism carbon dioxide emissions and tourism economy, and analyzed their evolution characteristics. The interaction and coordination degree between tourism carbon dioxide emissions and tourism economy were then analyzed using the improved coupling coordination degree model. Finally, this study analyzed the change in total factor productivity of low-carbon tourism by calculating the Malmquist-Luenberger productivity index. The results showed that: (1) The tourism industry in the Yellow River Basin has the characteristics of the initial environmental Kuznets curve. (2) There was a strong interaction between tourism carbon dioxide emissions and tourism economy, which was manifested as mutual promotion. (3) The total factor productivity of low-carbon tourism was increasing. Based on the above results, it could be concluded that the development level of low-carbon tourism in the Yellow River Basin has been continuously improved from 2000 to 2019, but it is still in the early development stage with the continuous growth of carbon dioxide emissions. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.11579&r=ene |
| By: | Barrón, Manuel (Universidad del Pacífico); ; |
| Abstract: | A growing literature shows that weather conditions during gestation can have persistent impacts on education and income, especially among females. However, the consequences of these impacts on behavior and choices during adulthood are still underexplored. To shed light on this issue, I use survey data for over 200, 000 households in Peru and find that average temperature during gestation affects fuel choice during adulthood among women, with extensive margin increases in the use of dirty cooking fuels, but no changes in the likelihood of fuel stacking. Analysis of the mechanisms suggests that female head’s income may be a more important driver than education. Supporting this argument, I show that the effects of in-utero temperature disappear among female beneficiaries of a conditional cash transfer program. |
| Keywords: | In-utero weather, energy use, climate change. |
| JEL: | O12 O13 O15 Q56 J24 |
| Date: | 2022–04 |
| URL: | http://d.repec.org/n?u=RePEc:pai:wpaper:22-01&r=ene |
| By: | Bijnens, Gert; Anyfantaki, Sofia; Colciago, Andrea; De Mulder, Jan; Falck, Elisabeth; Labhard, Vincent; Lopez-Garcia, Paloma; Meriküll, Jaanika; Parker, Miles; Röhe, Oke; Schroth, Joachim; Schulte, Patrick; Strobel, Johannes; Lourenço, Nuno |
| Abstract: | The impact of climate change on European Union (EU) countries and regions is poised to exhibit considerable diversity, influenced by factors encompassing average temperature, sectoral composition, developmental stages, and adaptation endeavours. The transition towards a more climate-friendly economy demands a well-orchestrated approach to mitigate enduring productivity costs. This shift will have varied implications for businesses, contingent upon their scale, access to financial resources, and capacity for innovation. The formulation of transition policies holds the potential to foster green innovation without displacing other initiatives, yet stringent climate regulations might impede the productivity ascent of pollutant-emitting enterprises. It will thus take time to reap the benefits of innovation. The efficacy of the policy mix is of critical importance in determining the trajectory of success. Market-driven mechanisms exhibit milder distortions compared to non-market-based strategies, though they may not inherently stimulate innovation. Significantly, subsidies earmarked for green research and development (R&D) emerge as a pivotal instrument for fostering innovation, thus constituting a vital component of the policy repertoire during the green transition. The implementation of transition policies will inevitably trigger a substantial reallocation of resources among and within sectors, potentially carrying short-term adverse ramifications. Notably, considerable productivity disparities exist between top and bottom emitters within specific industries. The transition period poses a risk to a substantial proportion of firms and can erode employment opportunities, with a likely decline in new ventures within affected sectors. JEL Classification: D24, L52, O33, O38, Q54, Q58 |
| Keywords: | climate change impact, climate transition policies, economic reallocation, green innovation, physical risk, productivity, transition risk |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbops:2024340&r=ene |
| By: | Charlotte Liotta (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique, TU - Technical University of Berlin / Technische Universität Berlin, MCC - Mercator Research Institute on Global Commons and Climate Change - PIK - Potsdam Institute for Climate Impact Research); Vincent Viguié (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Felix Creutzig (MCC - Mercator Research Institute on Global Commons and Climate Change - PIK - Potsdam Institute for Climate Impact Research, TU - Technical University of Berlin / Technische Universität Berlin) |
| Abstract: | City-level policies are increasingly recognized as key components of strategies to reduce transport greenhouse gas emissions. However, at a global scale, their total efficiencies, costs, and practical feasibility remain unclear. Here, we use a spatially-explicit monocentric urban economic model, systematically calibrated on 120 cities worldwide, to analyze the impact of four representative policies aiming at mitigating transportation GHG emissions, also accounting for their economic welfare impacts and health co-benefits. Applying these policies in all cities, we find that total transportation GHG emissions can be reduced by 31% in 15 years, compared with the baseline scenario. However, the consequences of the same policies vary widely between cities, with specific effects depending on the policy considered, income level, population growth rate, spatial organization, and existing public transport supply. Impacts on transport emissions span from high to almost zero, and consequences in terms of welfare can either be positive or negative. Applying welfareincreasing policy portfolios captures most of the emission reductions: overall, they reduce emissions by 22% in 15 years. Our results highlight that there is no one-size-fits-all policy. However, with context-specific strategies, large emission reductions can globally be achieved while improving welfare. |
| Date: | 2023–05–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04445981&r=ene |
| By: | Hongyun Zhang |
| Keywords: | Offshore wind, Contract for Difference, North Sea |
| JEL: | L94 Q25 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:enp:wpaper:eprg2323&r=ene |
| By: | Florent Cogen; Emily Little; Virginie Dussartre; Quentin Bustarret |
| Abstract: | The ATLAS model simulates the various stages of the electricity market chain in Europe, including the formulation of offers by different market actors, the coupling of European markets, strategic optimization of production portfolios and, finally, real-time system balancing processes. ATLAS was designed to simulate the various electricity markets and processes that occur from the day ahead timeframe to real-time with a high level of detail. Its main aim is to capture impacts from imperfect actor coordination, evolving forecast errors and a high-level of technical constraints--both regarding different production units and the different market constraints. This working paper describes the simulated balancing processes in detail and is the second part of the ATLAS documentation. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.12859&r=ene |
| By: | Curuk, Malik (Tilburg University, School of Economics and Management); Sen, Suphi (Tilburg University, School of Economics and Management) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:fb4ca580-4747-4873-802c-415f78912e8e&r=ene |
| By: | Börjesson, Maria (Swedish National Road and Transport Research Institute (VTI); Linköping University, Sweden); Proost, Stef (KU Leuven, Belgium) |
| Abstract: | This paper compares the cost of diesel trucks, battery electric trucks, and trucks that rely on overhead lines in a decision context where the developments of battery costs and overhead line investment and maintenance costs are uncertain. The user costs contain the truck capital cost and the energy costs, the possible vehicle-to-grid benefits, driver costs, and other distance costs. User costs are compared for optimized battery sizes for trucks with different distance profiles. The possible user cost developments serve as input to an analysis of investment decisions in electric motorways (e-roads). The economics of e-roads are analyzed for two representations of the EU TEN-T network. In the first analysis, average EU truck density and truck trip characteristics are used. In the second representation, we consider domestic and international truck transport between two neighbouring countries with strongly diverging traffic density and the share of international truck trips on their TEN-T network. This allows for the analysis of the non-cooperative and cooperative solutions of the two countries. The installation of e-roads appears to be a robust investment decision for the motorways of large countries that have dense truck traffic but not for less dense counties. Cooperation between large and small countries may increase total benefits depending on future battery costs and overhead line investment and maintenance costs. |
| Keywords: | Electric trucks; battery development; catenary trucks; electric roads; coordination of investments; CBA |
| JEL: | R41 R42 R48 |
| Date: | 2024–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:vtiwps:2024_003&r=ene |
| By: | Robert Forster; Destan Kirimhan; Xiaojin Sun |
| Abstract: | This paper investigates the Deepwater Horizon oil spill and its mortgage lending implications for the affected Gulf coast areas. We construct a unique dataset by using information from the Shoreline Cleanup Assessment Technique program and mapping those observations to the Home Mortgage Disclosure Act lending dataset. Our difference-in-differences estimation results show that denial rates of mortgage applications rise between 2 and 6% as a result of the Deepwater Horizon oil spill, whilst accounting for fixed effects at the lender and census tract levels. We also find that the effect is larger on refinance mortgages compared to home purchase mortgages, and national banks respond more aggressively compared to other mortgage lenders. |
| Keywords: | Mortgage Lending, Environmental Damage, Oil Spill, Difference-in-Differences |
| JEL: | G21 Q53 R11 |
| Date: | 2022–07 |
| URL: | http://d.repec.org/n?u=RePEc:liv:livedp:202219&r=ene |
| By: | Pyddoke, Roger (Swedish National Road and Transport Research Institute (VTI)); Lind, Joar (Swedish National Road and Transport Research Institute (VTI)) |
| Abstract: | Cities around the world contemplate how the transports of the city can be greened by shifting passenger transport demand from private car to more sustainable modes. Car users in cities frequently do not fully pay for the externalities (for example congestion, delays, accidents, noise, and air pollution) they cause other car users and citizens. This paper models and compares the effects of welfare optimized parking charges, congestion taxes, and kilometre taxes in Malmö and Uppsala in Sweden, internalization of externalities, welfare and shift of demand from car use to other modes. The results indicate that there is a significant potential for improvement in social welfare and for shifting mode from car to other modes by pricing car use externalities by all three instruments. The increased costs per trip imposed on car users by the instrument vary by a factor two from about EUR 1 to about EUR 2. |
| Keywords: | parking charge; congestion tax; kilometre tax; Sweden; welfare; optimization; mode shift |
| JEL: | R41 R48 |
| Date: | 2024–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:vtiwps:2024_002&r=ene |
| By: | Federico M. Accursi, Raúl Bajo-Buenestado |
| Keywords: | Cooperatives, Pass-through to prices; Market power; Firm conduct; Retail fuel market. |
| JEL: | D22 H22 H32 L21 L29 P13 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:nva:unnvaa:wp02-2024&r=ene |
| By: | Verónica ACURIO VASCONEZ; David DESMARCHELIER; Romain RESTOUT |
| Abstract: | This paper documents a positive and significant relationship between carbon dioxide emissions and capital depreciation rate for a large sample covering more than 80 countries in recent decades. Using this result, we develop a simple Solow model with an AK production function in which a pollution externality, viewed as a stock, increases the capital depreciation rate. In the long run, it appears that whatever the magnitude of the pollution effect on capital depreciation, there is no room for endogenous growth despite the AK technology. Moreover, we observe that a sufficiently sensitive capital depreciation rate to pollution can lead to the emergence of a limit cycle near the steady state (i.e., a Hopf bifurcation), indicating that the relationship empirically documented within this paper acts as a destabilizing force for the economy. |
| Keywords: | Endogenous Capital Depreciation, Growth Model, Pollution. |
| JEL: | E22 O41 O44 Q56 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2024-01&r=ene |
| By: | Nazam Maqbool (Pakistan Institute of Development Economics) |
| Abstract: | Forests and trees act as the lungs of the Earth. They have a significant role in: archiving sustainable development, mitigating climate change through carbon sequestration, contributing to the balance of oxygen, Carbon dioxide (CO2) and humidity in the air, and protecting watersheds. They also reduce the risk of natural disasters, including floods, droughts, landslides and other extreme events; home to most of the animals, plants and insects; and provide shelter, jobs and security for forest-dependent communities. Forests are also a major source of fuel, as they provide firewood for millions of mostly poor people. The decades of exploitation have destroyed and degraded much of the Earth’s natural forests. |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:pid:kbrief:2024:111&r=ene |
| By: | Oscar Trull; J. Carlos Garc\'ia-D\'iaz; Angel Peir\'o-Signes |
| Abstract: | Transmission system operators have a growing need for more accurate forecasting of electricity demand. Current electricity systems largely require demand forecasting so that the electricity market establishes electricity prices as well as the programming of production units. The companies that are part of the electrical system use exclusive software to obtain predictions, based on the use of time series and prediction tools, whether statistical or artificial intelligence. However, the most common form of prediction is based on hybrid models that use both technologies. In any case, it is software with a complicated structure, with a large number of associated variables and that requires a high computational load to make predictions. The predictions they can offer are not much better than those that simple models can offer. In this paper we present a MATLAB toolbox created for the prediction of electrical demand. The toolbox implements multiple seasonal Holt-Winters exponential smoothing models and neural network models. The models used include the use of discrete interval mobile seasonalities (DIMS) to improve forecasting on special days. Additionally, the results of its application in various electrical systems in Europe are shown, where the results obtained can be seen. The use of this library opens a new avenue of research for the use of models with discrete and complex seasonalities in other fields of application. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.10982&r=ene |
| By: | Wozny, Florian (German Aerospace Center DLR) |
| Abstract: | The tax incidence is central to the effectiveness of taxation. In this paper, I examine the pass-through rate of an air passenger tax to airfares. Additionally, I analyse its impact on passenger numbers, air transport capacity, and the interaction with supply and demand elasticity. For identification, I exploit the implementation of an air passenger tax on worldwide departures from Sweden and compare them with similar departures from Denmark and Finland with no such air passenger tax implementation. For the analysis, I use a unique data set of the universe of worldwide airline bookings. On average, airlines choose an immediate and nearly full pass-through of taxes. Consistent with theoretical priors for oligopolistic markets, tax incidence increases with competition but decreases with lower demand elasticity. Furthermore, the air passenger tax reduces passenger numbers and air transport capacity significantly. |
| Keywords: | tax incidence, competition, air passenger tax, environmental policy |
| JEL: | H22 L13 Q52 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16783&r=ene |
| By: | Hancke, Robert; Mathei, Laurenz |
| Abstract: | This article examines the responses and strategies developed by business, unions, and governments to the electric turn in the industry in Germany and France, Europe’s main car-producing countries. We concentrate on the role of history and institutions in the determination of adjustment paths. Since institutions reflect specific histories, the electric transition in the industry can take on different forms in different countries. In both countries, governments play a supportive role, leading in France, and following in Germany. The strong works councils in German car companies are reluctant to engage in a rapid transition that would devalue the assets of the workforce and endanger past investments in internal combustion-related technology. Trade unions, in contrast, who organise the workforce in the wider industry, are in favour of a faster transition as it will secure future employment. The French EV industry, in contrast, is now a booming sector, after several decades of deep restructuring with massive employment losses. Its key short-term problem is to train enough workers to staff the rapidly expanding car battery industry. Lacking a deeply rooted training system like the German one, the industry has a relatively free hand in selecting and preparing its future workforce. |
| Keywords: | T&F deal |
| JEL: | J1 |
| Date: | 2024–02–19 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:122000&r=ene |
| By: | Fausto Cavalli; Alessandra Mainini; Daniela Visetti |
| Abstract: | We propose a model with economic and environmental domains that interact with each other. The economic sphere is described by a Solow growth model, in which productivity is not exogenous but negatively affected by the stock of pollution that stems from the production process. A regulator can charge a tax on production, and the resources collected from taxation are used to reduce pollution. The resulting model consists of a two dimensional discrete dynamical system, and we study the role of taxation from both a static and a dynamical point of view. The focus is on the determination of the conditions under which taxation has a positive effect on the environment and leads to economic growth. Moreover, we show that a suitable environmental policy can allow recovering both local and global stability of the steady states. On the contrary, we show that, if the policy is not adequate, the system can exhibit endogenous oscillating and chaotic behavior and multistability phenomena. |
| Keywords: | Economic-environmental modelling, environmental policy, complex dynamics, multistability, nonlinear analysis. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:mib:wpaper:530&r=ene |
| By: | Alexander Mayer; Dominik Wied; Victor Troster |
| Abstract: | We propose a new framework for assessing Granger causality in quantiles in unstable environments, for a fixed quantile or over a continuum of quantile levels. Our proposed test statistics are consistent against fixed alternatives, they have nontrivial power against local alternatives, and they are pivotal in certain important special cases. In addition, we show the validity of a bootstrap procedure when asymptotic distributions depend on nuisance parameters. Monte Carlo simulations reveal that the proposed test statistics have correct empirical size and high power, even in absence of structural breaks. Finally, two empirical applications in energy economics and macroeconomics highlight the applicability of our method as the new tests provide stronger evidence of Granger causality. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.09744&r=ene |
| By: | Andreas Gerster; Michael Kramm |
| Abstract: | This paper explores how a benevolent policy maker should optimally tax (or subsidize) product attributes when consumers are behaviorally biased. We demonstrate that market choices are informative about biases, which can be exploited for targeting biased consumers via a non-linear tax schedule. We show that its properties depend on few parameters of the joint distribution of consumer valuations and biases. Furthermore, we provide a novel justification for behaviorally motivated product standards and derive when a combination of taxes and standards is optimal. We illustrate our findings based on a numerical example from the lightbulb market. |
| Keywords: | Optimal commodity taxation, non-linear taxation, internalities, behavioral economics, public economics, environmental economics |
| JEL: | H21 D82 D04 Q58 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2024_510&r=ene |
| By: | Liepold, Constanze (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)); Fabianek, Paul (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)); Madlener, Reinhard (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)) |
| Abstract: | Based on economic and occupants-relevant criteria, this paper proposes an assessment framework for direct load control (DLC) schemes, using the Analytic Hierarchy Process AHP) approach for a multi-criteria decision analysis. For DLC, as a form of demand response, a third-party provider (e.g., grid operator, aggregator) is allowed to control or limit the residential electric load after sending a control signal. The assessment framework enables the transparent evaluation of different DLC approaches from a residential perspective can be done transparently using our assessment framework. The relevant criteria for the evaluation were derived from literature. Five criteria were found to be particularly relevant for the evaluation of DLC approaches (ordered by descending): financial compensation, guaranteed comfort, control, transparency, as well as frequency and duration. The assessment framework includes value scores, which represent the degree to which a specific DLC approach meets a given evaluation criterion, and combines them with the criteria weights derived in the AHP. The framework seems useful for grid operators, aggregators, and policy-makers that need to find better ways to design and implement demand response measures in the private household sector and such which that are at the same time acceptable to occupants. |
| Keywords: | Direct Load Control; residential buildings; Analytic Hierarchy Process; Germany |
| JEL: | A11 C02 |
| Date: | 2023–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:fcnwpa:2023_015&r=ene |
| By: | Andre, Peter; Boneva, Teodora; Chopra, Felix; Falk, Armin |
| Abstract: | We document the individual willingness to act against climate change and study the role of social norms in a large sample of US adults. Individual beliefs about social norms positively predict pro-climate donations, comparable in strength to universal moral values and economic preferences such as patience and reciprocity. However, we document systematic misperceptions of social norms. Respondents vastly underestimate the prevalence of climate-friendly behaviors and norms. Correcting these misperceptions in an experiment causally raises individual willingness to act against climate change as well as individual support for climate policies. The effects are strongest for individuals who are skeptical about the existence and threat of global warming. |
| Keywords: | Climate change, climate behavior, climate policies, social norms, misperception, beliefs, economic preferences, moral values, survey experiments |
| JEL: | D64 D83 D91 Q51 Q54 Z13 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:safewp:284397&r=ene |
| By: | Antonina Nazarova (University of East Anglia); Corrado Di Maria (School of Economics, University of East Anglia); Emiliya Lazarova (School of Economics, University of East Anglia) |
| Abstract: | In this paper, we revisit the role of the signature by the executive in the context of international environmental agreements. Using a novel panel dataset covering 52 agreements involving 203 countries over the period 1975-2017, we show that, contrary to conventional wisdom, the act of signing a treaty significantly increases the probability of ratification. |
| Keywords: | International Environmental Agreements, Strategic Interaction, Signalling, Signature, Proportional Hazard Models |
| JEL: | F53 Q58 K33 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:uea:ueaeco:2024-03&r=ene |
| By: | Ruben Nicolas; Vitezslav Titl; Fredo Schotanus |
| Abstract: | To stimulate sustainable economic development and a greener economy, the European Commission co-funds public projects through the European Structural and Investment Funds (ESIF), which are among the largest such funds in the world worth approximately 100 billion euros annually. Since 2014, ESIF beneficiaries are incentivized to increase their use of green public procurement (GPP). In this paper, we study to what extent ESIF co-funding affects the uptake of GPP, making use of a rare dataset containing all public tender notices in the Czech Republic (2006-2019). We find a positive effect of ESIF on GPP and suggestive evidence that ESIF co-funding instigates selection behaviour by contracting authorities, that allocate their projects and resources to improve their chances of receiving co-funding. Exploiting two policy changes, we show that the ESIF’s effect on GPP is driven by financial incentives and not by ‘greener’ policy objectives. Finally, we study the effect of gained experience with GPP and find that it only increases contracting authorities’ later uptake of GPP to a limited extent. Mainstreaming of GPP calls for a more systemic approach that covers public procurement as a whole, for instance, by making GPP on a national level less voluntary for ESIF eligibility. |
| Keywords: | Green public procurement, EU, co-funding, climate policy, policy evaluation, sustainable development |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:2310&r=ene |
| By: | Bruno Lanz |
| Abstract: | L'économie et le système capitaliste sont souvent considérés comme étant à la racine de problèmes environnementaux. Cela peut induire une perception selon laquelle l'économie et la préservation de l'environnement sont en opposition. Dans ce texte, j'illustre en quoi une compréhension de l'économie est nécessaire pour contribuer à résoudre les problèmes environnementaux. Prenant les changements climatiques comme exemple, je mobilise deux types d'outils utilisés par les économistes. Premièrement, je développe un modèle sous la forme d’une allégorie. Je montre qu'un système capitaliste dans lequel il n'existe pas de droits de propriété explicites sur certaines ressources naturelles crée une situation de dilemme social : les actions individualistes vont à l’encontre de l’intérêt collectif. Deuxièmement, à l'aide d’outils empiriques, je discute des impacts économiques des changements climatiques et des interventions pour solutionner le dilemme social. Les résultats montrent qu'un investissement pour imiter les changements climatiques au niveau global coûte moins cher que l’inaction. Je considère ensuite trois types d’interventions en lien avec l'existence de droits de propriété implicites : (i) l'éducation et l'information, (ii) la régulation des marchés, et (iii) le soutien à l'innovation et à l'adoption de nouvelles technologies. Je conclus sur le fait que l'économie de l'environnement peut contribuer à développer des stratégies pour équilibrer les intérêts économiques et la préservation de l'environnement. L'innovation et la coopération au niveau global sont possibles, en témoigne la crise COVID. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:irn:polrep:24-02&r=ene |