|
on Regulation |
| By: | Hitaj, Claudia; Schymura, Michael; Löschel, Andreas |
| Abstract: | We estimate the impact of a feed-in tariff for renewable power on wind power investment in Germany at the county level from 1996-2010 controlling for windiness and access to the electricity transmission grid. After the Renewable Energy Law (EEG) was passed in 2000, the feed-in tariff became linked to wind power potential, such that more windy locations received a lower incentive per unit of output. We find that a 1 e-cent/kWh increase in the feed-in tariff rate would increase additions to capacity at the national level by 764MWper year from 1996- 2010 or 1,528 MW per year from 2005-2010. We analyze counterfactual scenarios, in which a uniform incentive is offered instead of the wind-dependent EEG incentive. Significantly more wind power plants are installed along the northern coastal counties in the uniform incentive scenario. We find that while the uniform incentive results in greater total wind power output per installed capacity, the EEG is ultimately more efficient by achieving 1% greater wind power output per euro and 3.7% greater reductions in power sector emissions per euro. In addition, we find a significant response from investors to an EEG provision that shifted the cost of transmission system upgrades from wind power developers to grid operators in 2000. The lack of a signal on scarcity of transmission capacity has likely resulted in a distribution of wind power plants that makes suboptimal use of existing infrastructure, necessitating investment in new transmission corridors. -- |
| Keywords: | wind power,feed-in tariff,electricity transmission |
| JEL: | Q0 Q42 Q50 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:14035&r=reg |
| By: | Konishi, Yoshifumi; Tarui, Nori |
| Abstract: | Design of environmental regulation has substantial implications for size distribution and mass of firms within and across industries in the long run. In a general equilibrium model that accounts for endogenous entry and exit of heterogeneous firms, the welfare impacts of emissions trading are analytically decomposed into the effects on economy-wide income, mass of firms, size distribution, markups, and factor prices. Distortionary impacts on size distribution and permit price depend on the conditionality of permit distribution, interactions between changes in entry-exit conditions and in aggregate accounting conditions, the factor intensity of entry, and coverage of non-pollution-intensive sectors in emissions trading. |
| Keywords: | Conditional Allocation Rules, Emissions Trading, Heterogeneous Firms, Endogenous, Entry/Exit, Melitz Model, Imperfect Competition |
| JEL: | Q50 Q52 Q58 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:hit:hitcei:2014-1&r=reg |
| By: | Reichardt, Kristin; Rogge, Karoline |
| Abstract: | Transforming the energy system to one with a greater importance of renewable power generation technologies requires redirecting and accelerating technological change. In this transition, so-called policy mixes play a crucial role. Yet precisely how policy mixes affect technological innovation remains poorly understood. To remedy this, in this study we choose a qualitative company case study approach to analyze the innovation impact of the elements of a policy mix - its policy strategy and instrument mix - and their consistency. Taking offshore wind in Germany as research case, we find that the German offshore wind policy mix, its consistency and perceived high credibility have been vital innovation drivers. Specifically, its consistent policy strategy and the consistency of the policy strategy with the instrument mix appear crucial to research, development and demonstration. Still, for this emerging technology to be adopted the policy mix seems to require a consistent and comprehensive instrument mix. -- |
| Keywords: | policy mix,policy strategy,instrument mix,consistency,innovation,off-shore wind |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:s72014&r=reg |
| By: | Mattes, Katharina; Müller, Simon; Jäger, Angela; Weidner, Nadezda; Weißfloch, Ute |
| Abstract: | Rising energy prices and political goals which address climate change, such as the reduction of greenhouse gas emissions, increase the importance of using renewable energies and technologies for generating these. Since the manufac-turing industry is one of the major energy consumers in Germany, this paper focuses on the diffusion of renewable energy technologies to generate power in the manufacturing industry. Using data from the German Manufacturing Survey 2012 for 1,594 firms, we analyse the relation between the usage of renewable energy technology and firms' characteristics, also accounting for structural de-terminants. In addition, the reasons for the decision to use these technologies and, in particular, the relevance of the political framework are examined. Our findings show that the producers of end-consumer goods are more likely to use renewable energy technologies compared to other manufacturing firms. The availability of resources plays a substantial role, whereas the energy intensity of the firm is less important for the introduction of renewable energy technologies. When considering the chosen reasons for adoption, firms mentioned most fre-quently that they anticipate rising energy prices. The policy mix, however, is less often mentioned and mostly together with other reasons. -- |
| Keywords: | renewable energy technologies,manufacturing industry,technology adoption,diffusion of innovations,quantitative analysis |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:s62014&r=reg |
| By: | Diller, Markus; Kortebusch, Pia; Schneider, Georg; Sureth, Caren |
| Abstract: | Tax uncertainty often negatively affects investment. Advance tax rulings (ATRs) are commonly used to provide tax certainty. We analyze ATRs from the taxpayers' and tax authorities' perspectives. Investors request ATRs if the fee does not exceed a certain threshold. We integrate this finding into the tax authorities' decision whether to offer ATRs. We find that ATRs are usually only offered if tax authorities are capable of significantly reducing their tax audit costs or increasing the detection probability. Otherwise, ATRs may be beneficial only if the tax authorities restrict them to classes of investments or use investment-specific fees. These results provide new explanations for why ATRs are currently not as intensively requested by taxpayers as expected against the background of high tax uncertainty. Moreover, the findings help to improve the design of ATRs. -- |
| Keywords: | Advance Tax Rulings,Fee Design,Investment Effects,Tax Risk,Tax Uncertainty |
| JEL: | H21 H25 M41 M42 M48 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:arqudp:167&r=reg |
| By: | Rexhäuser, Sascha; Löschel, Andreas |
| Abstract: | Many countries, especially in Europe, have ambitious goals to transform their national energy systems towards renewable energies. Technological change in both renewable production and efficient use of energy can help to make these targets come true. Using a panel of German firms linked to the PATSTAT patent data, we study invention in both types of energy technologies and how their inventors differ in terms of central firm-specific characteristics. More importantly, we study the relation between conventional (i.e. non-energy) invention and energy invention within the firms. The results from dynamic count data models point to a stimulating effect of conventional inventions for energy efficiency technologies but have no effect on inventions in renewable energies. -- |
| Keywords: | innovation,invention,renewable energy,energy efficiency,dynamic count data |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:14036&r=reg |
| By: | Cristina Mocci; Stefania Pozzuoli; Francesca Romagnoli; Cristina Tinti |
| Abstract: | The aim of this study is to assess the effects of anti-competitive service regulation on economic performance in Italy. This paper runs a cross-sector panel regression of the Italian value added growth on the OECD PMR sectoral regulation indicators (ETCR and RBSR) in the 1995-2008 period using the national Input-Output matrix. This analysis enriches the empirical understanding of the effects of regulation on national value added growth with relevant implications for policy making. The results prove that in Italy sectoral liberalization on total economy and manufacturing played a relevant role in increasing the value added. We find a negative and statistically significant relationship between the overall liberalization of services, as well as in Energy and Professions, and the performance of the whole economy and manufacturing sector in the considered period. Being Italy among the countries with a significant difference between the regulation (PMR) and the business perception (EFW-DB) indicators, this paper provides a sense of this misalignment in the years of the panel. In particular, evidence shows that economic agents reacted positively to reforms related to state participation (Post, Telecom, Railways) and simplification of paperwork for start-ups in Italy. |
| Keywords: | Regulation, sector analysis, growth |
| JEL: | O40 L51 L80 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:itt:wpaper:wp2014-3&r=reg |
| By: | Toni Ahnert |
| Abstract: | I study rollover risk in the wholesale funding market when intermediaries can hold liquidity ex ante and are subject to fire sales ex post. Precautionary liquidity restores multiple equilibria in a global rollover game. An intermediate liquidity level supports both the usual run equilibrium and an efficient equilibrium. I provide a uniqueness refinement to characterize the privately optimal liquidity choice. Because of fire sales, liquidity holdings are strategic substitutes. Intermediaries free ride on the liquidity of other intermediaries, causing excessive liquidation. A macroprudential authority internalizes the systemic nature of liquidity and restores constrained efficiency by imposing a macroprudential liquidity buffer. |
| Keywords: | Financial Institutions, Financial system regulation and policies |
| JEL: | G01 G11 G28 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocawp:14-23&r=reg |
| By: | Federica DeMaria (Dipartimento di Economia e Statistica, Università degli Studi della Calabria); Sophie Drogue (Marchés, Organisations, Institutions et Stratégies d'Acteurs, INRA) |
| Abstract: | This article explores the effect of European Union (EU)’s food safety regulations on the trade of baby food products. A large number of medical studies have shown that pesticides and contaminants contribute to various health problems including cancer, lung disease or reproductive, endocrinal and immune system disorders. They also agree that children are more vulnerable to the dangers of pesticides and contaminants because as soon as they start eating solid foods, they eat a limited number of food items most of which are fruits and vegetables. In order to protect the health of the most vulnerable part of the population, the EU’s regulations establish that no more than 0.01 mg/kg of any single pesticide residue is permitted in baby food products. In this respect, the EU differs from most of its trading partners, the majority of which do not differentiate food safety regulations according to the consumer population age. The purposes of this paper is to compare the EU regulations on Maximum Residual Level of pesticides to those of its major trading partners through a severity index and quantify the impact of the specific European regulations on the trade of baby food products. Results show that the specific EU regulations may be considered as a tool protecting vulnerable population. |
| Abstract: | Cet article explore l'effet des réglementations de l'Union européenne (UE) sur la sécurité des aliments sur le commerce d'aliments pour bébé. Un grand nombre d'études médicales ont montré que les pesticides et les contaminants contribuent à divers problèmes de santé comme cancers, maladies pulmonaires ou des désordres du système immunitaire, endocrine ou reproducteur. Ces études s'accordent aussi sur le fait que les enfants sont plus vulnérables aux dangers des pesticides et contaminants car dès qu'ils commencent à manger des aliments solides, ils mangent un nombre limité de produits dont la plupart sont des fruits et légumes. Pour protéger la santé de la partie la plus vulnérable de sa population, l'UE a mis en place une réglementation qui établit que la limite maximale de résidus (LMR) pour n'importe quel pesticide ne doit pas excéder 0.01 mg/kg dans les aliments pour bébé. A ce niveau, la réglementation européenne est très différente de celle de la plupart de ses partenaires commerciaux qui ne différencient pas les réglementations en fonction de l'âge. L'objectif de cet article est de comparer la réglementation de l'UE sur les LMR de pesticides par rapport à celle de ses partenaires commerciaux grâce à un indicateur de sévérité et de quantifier l'impact de de cette réglementation européenne spécifique sur le commerce des produits pour bébé. Les résultats montrent que la réglementation de l'UE représente une barrière à l'entrée sur ses marchés, mais qu'elle a aussi un effet positif sur le volume du commerce. |
| Keywords: | food safety, pesticides, baby food products, market access, gravity modeling, sécurité des aliments, pesticidesécurité sanitaire, alimentation du nourrisson, modèlealimentation infantileaccès au marché |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:inr:wpaper:192807&r=reg |
| By: | Tim Burnett |
| Abstract: | This paper empirically analyses the impact of the bundling of four common home communication services with a single supplier on the probability that an individual changes supplier using a survey-elicited dataset of 2,871 individuals. Implementing a random effects probit approach to control for individual heterogeneity, the results strongly show that when individuals bundle their service then they are significantly less likely to change supplier. A second result indicates that service- and supplier- related variables are better predictors of an individual's likelihood of switching than are the characteristics of the individual, suggesting that future research in this area should prioritise their inclusion. |
| Keywords: | Bundling, Consumers, Panel-data, Regulation, Switching, telecommunications |
| JEL: | C3 C5 D1 L5 L8 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:bri:cmpowp:13/321&r=reg |
| By: | Antoine Beretti (INRA-Lameta); Charles Figuières (INRA-Lameta); Gilles Grolleau (INRA-Lameta) |
| Abstract: | Using a simple decision-theoretic approach, we formalize how agents with different kinds of intrinsic motivations react to the introduction of monetary incentives. We contend that empirical results supporting the existence of a crowding-out effect in various contexts hide a more complex reality. We also propose a new policy instrument which taps into agents’ heterogeneity regarding intrinsic motivations in order to turn a situation subject to crowding-out into a crowding-in outcome. This instrument uses a self-selection mechanism to match adequate monetary incentives with individuals’ types regarding intrinsic motivations. |
| Keywords: | Crowding-out, Heterogeneity, Moral motivation, Environmental regulation |
| JEL: | D03 D64 H23 Q58 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:fae:wpaper:2014.04&r=reg |
| By: | Jean Marie Codron (Marchés, Organisations, Institutions et Stratégies d'Acteurs, INRA); Hakan Hadanacioglu (Faculty of Agriculture, Department of Agricultural Economics, Ege university); Magali Aubert (Marchés, Organisations, Institutions et Stratégies d'Acteurs, INRA); Zouhair Bouhsina (Marchés, Organisations, Institutions et Stratégies d'Acteurs, INRA); Abdelkader Ait El Mekki (National School of Agiculture); Sylvain Rousset (UR ADBX, Institut National de Recherche en Sciences et Technologies pour l'Environnement et l'Agriculture); Selma Tozanli (Marchés, Organisations, Institutions et Stratégies d'Acteurs, INRA; Centre International de Hautes Etudes Agronomiques Méditerranéennes); Murat Yercan (Faculty of Agriculture, Department of Agricultural Economics, Ege university) |
| Abstract: | Chemical contamination of fresh produce through pesticide spraying is considered a minor risk for consumer health. As a result, a high proportion of safety controls may be delegated to the private sector by public agencies. Private control is even greater when fresh produce is sold to safety-conscious consumers, given the high exposure of retailers' commercial reputations. Performed within the framework of the European project Sustainmed, our paper is a case study of public and private management and control of safety risks and the determinants thereof in the fresh produce industry of two contrasting Mediterranean countries: Morocco and Turkey. Based on expert surveys and face-to-face interviews with a high number of tomato growers, it provides an insight into the factors influencing the role of the different players in managing and controlling safety risks. A clear distinction is made between the individual parameters at growing and shipping levels and country-wide parameters at the market and institutional level. Both categories of parameters significantly influence the level of safety management at production level (IPM schemes and GAP certificates) and help understand the respective contributions of public and private operators in the safety risk management of the whole system. |
| Keywords: | food safety, pesticide, integrated pest management, IPM, good agricultural practices, GAP, private regulation, vertical organization, fresh vegetables, turquie, marocpesticide, sécurité des alimentsgestion de risques, intégration verticale, fruit, légume, produit fraissécurité sanitaire, pratique agricolerégulation |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:inr:wpaper:191399&r=reg |
| By: | Elodie Letort (Structures et Marchés Agricoles, Ressources et Territoires, INRA; Association Régionale pour l'Agriculture Paysanne); Chalachew Temesgen Jemberie (Structures et Marchés Agricoles, Ressources et Territoires, INRA) |
| Abstract: | The Bretagne region is an agricultural area located in the north-west of France. In addition to urban pressure, the competition for farmland is enhanced by strong environmental regulations and incentives. The objective of this paper is to study the determinants of farmland prices and especially the effects of environmental regulations to explain the spatial disparities observed in Bretagne. This paper mainly focuses on environmental policies which are intended to reduce the agricultural pollution of water with nitrates. Several environmental regulations have been implemented in the Bretagne region, which resulted in a complex zoning system with specific measures. To account for this local characteristic, we use the hedonic pricing model and take into account the potential spatial dependencies between farmland prices. For empirical application, we use a dataset of individual transactions in Bretagne from 2007 to 2010. The estimation results show an increase or a decrease in farmland prices in environmentally sensitive areas depending on the types of regulations applied in these areas. The results also emphasize the importance of spatial interaction in the farmland market. |
| Abstract: | La Bretagne est une importante région agricole située au nord-ouest de la France. En plus de la pression urbaine, les concurrences sur le marché de la terre agricole sont accentuées par les incitations publiques, qui sont très fortes en Bretagne pour la protection de l’environnement et de la qualité de l’eau. Cet article vise à mettre en évidence les différents facteurs qui influencent le prix de la terre agricole en Bretagne, et particulièrement les effets des régulations environnementales mises en place pour lutter contre les pollutions de l’eau par les nitrates d’origine agricole. Ces politiques ont abouti à la création de différentes zones environnementales sensibles soumises à différents types de mesures réglementaires ou incitatives. Un modèle de prix hédonique tenant compte des potentielles dépendances spatiales entre les prix est estimé à partir de données concernant toutes les transactions de terres agricoles notifiées par les notaires réalisées en Bretagne de 2007 à 2010. Les résultats obtenus montrent une augmentation ou une diminution du prix des terres agricoles dans ces zones environnementales sensibles en fonction du type de régulation appliquée. Les résultats montrent également l’importance des interactions spatiales sur le marché de la terre agricole. |
| Keywords: | politiques environnementales, fonction de prix hédonique, économétrie spatiale |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:inr:wpaper:192198&r=reg |
| By: | Laure Latruffe (Structures et Marchés Agricoles, Ressources et Territoires); Laurent Piet (Structures et Marchés Agricoles, Ressources et Territoires, INRA); Pierre Dupraz (Structures et Marchés Agricoles, Ressources et Territoires, INRA); Chantal Le Mouel (Structures et Marchés Agricoles, Ressources et Territoires, INRA) |
| Abstract: | We investigate the determinants of agricultural land price in several regions in France over the period 1994-2011 using individual plots transaction data, with a particular emphasis on agricultural subsidies and nitrate zoning regulations. We found a positive but relatively small capitalisation effect of the total subsidies per hectare. We found evidence that agricultural subsidies capitalised at least to some extent. However, the magnitude of such a capitalisation depends on the region considered, on the type of subsidy considered, and on the location of the plot in a nitrate surplus zone or not. Only land set-aside premiums significantly capitalise into land price, while single farm payments have a significant positive capitalisation impact only for plots located in a nitrate surplus zone. |
| Keywords: | France, regulations, subsidies, capitalisation, nitrate surplus area, farm land prices, France, regulations, subsidies, capitalisation, nitrate surplus area, farm land prices, franceprix de la terre, parcelle agricolesubvention, capitalisation, réglementationnitrate |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:inr:wpaper:200148&r=reg |
| By: | Laure Latruffe (Structures et Marchés Agricoles, Ressources et Territoires, INRA); Laurent Piet (Structures et Marchés Agricoles, Ressources et Territoires, INRA); Pierre Dupraz (Structures et Marchés Agricoles, Ressources et Territoires, INRA); Chantal Le Mouel (Structures et Marchés Agricoles, Ressources et Territoires, INRA) |
| Abstract: | This paper investigates the determinants of agricultural land price in several regions in France over the period 1994-2011, using individual plot transaction data, with a particular emphasis on agricultural subsidies and nitrate zoning regulations. It found a positive but relatively small capitalisation effect of the total subsidies per hectare. The data revealed that agricultural subsidies capitalised, at least to some extent, but the magnitude of such a capitalisation depends on the region considered, on the type of subsidy considered, and on the location of the plot in a nitrate surplus zone or not. Only land setaside premiums significantly capitalise into land price, while single farm payments have a significant positive capitalisation impact only for plots located in a nitrate-surplus zone. |
| Keywords: | farmland price, agricultural subsidies, environmental regulations, france, prix de la terre, terre agricolesubventionfrance |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:inr:wpaper:209443&r=reg |