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on Regulation |
| By: | Yves Crozet (IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon, LAET - Laboratoire Aménagement Économie Transports - UL2 - Université Lumière - Lyon 2 - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In July 1991, after lengthy negotiations between European countries, EU Directive 91-440 was published, setting in motion the process of deregulating rail transport. As with other networked industries (power, telecommunications), the European Union (EU) was embarking on a new approach, separating infrastructure and operation, at least from an accounting perspective. Once again, the clear objective was to allow third parties access to the network and to make competition a key lever in the revitalisation of the sector. This initial ambition had been pursued for 25 years, as demonstrated by the successive “Railway Packages” or the creation of the European Railway Agency (ERA), which plays an important role in questions of security and interoperability. Development of the role of the ERA is at the heart of the ‘technical’ pillar of the Fourth Railway Package approved at the end of 2015. This fourth package contains a ‘market’ pillar, which seeks to open up national passenger services to competition, from 2020 for on-track competition and 2023 for public service, off-track contracts. The European Commission underlines the fact that the earlier rail packages have already substantially transformed the European rail transport sector. With this fourth package, the generalisation of competition should lead to a single European railway area, which needed if this mode of transport is to achieve the objectives set out in the 2011 White Paper. Given the success of the reforms of the last 25 years, this direction should be pursued. Presented in this way, the matter seems simple, but is it really? What has been the impact of introducing competition and notably on-track competition into rail transport? |
| Keywords: | EU Directive 91-440,deregulating rail transport,competition,European rail transport sector |
| Date: | 2016–10–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01397691&r=reg |
| By: | Dahlqvist, Anna (National Institute of Economic Research); Lundgren, Tommy (Centre for Environmental and Resource Economics, Umeå University and Swedish University of Agricultural Science); Marklund, Per-Olov (National Institute of Economic Research) |
| Abstract: | The purpose of this paper is to analyze the direct rebound effect poten-tially prevailing in energy intense industries. The rebound effect repre-sents economic mechanisms that will offset energy savings from energy efficiency improvements. For this purpose, a factor demand model is applied incorporating an asymmetric energy price response. Asymmetric prices imply that firms respond more strongly to energy price increases than to energy price decreases. In the empirical model we use a firm level, unbalanced panel covering the years 2001 to 2012 and four major Swedish energy-intensive industries; pulp and paper, iron and steel, chemical, and mining. The result indicates that the rebound effect is considerable in these industries. To mitigate this effect, the results sug-gest that policies stimulating an increase in energy efficiency should be combined with a raise in energy taxes. |
| Keywords: | Asymmetric price response; Energy efficiency; Factor de-mand model; Own-price elasticities; Voluntary Energy Efficiency Pro-grams; Rebound effect |
| JEL: | Q41 Q48 |
| Date: | 2017–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:nierwp:0150&r=reg |
| By: | Daire McCoy, John Curtis |
| Abstract: | In order to better understand the potential for both policy and technological improvements to aid carbon abatement, long-term historical information on the time-path of transition from more traditional to cleaner fuels is useful. This is a relatively understudied element of the fuel switching literature in both developed and emerging economies. This research adds to this literature by examing the adoption time-path of network gas as a heating fuel. We merge a unique dataset on gas network roll-out over time, with other geo-coded data and employ an instrumental variables technique in order to simultaneously model supply and demand. Results indicate a non-linear relationship between the proportion of households using gas as their primary means of central heating and the length of time the network has been in place in each area. Proximity to the gas network, peat bogs, and areas which have banned the consumption of bituminous coal also affect gas connections. Variations in socioeconomic and dwelling characteristics at area level can also help explain connections to the gas network. Simulations are then performed to examine how network expansion might affect connections and carbon emissions. |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:lsg:lsgwps:wp320&r=reg |
| By: | Schleich, Joachim; Faure, Corinne; Gassmann, Xavier |
| Abstract: | Using a representative sample of more than 11,000 households from eight Eu-ropean countries, this paper empirically studies the factors related to household electricity contract switching by distinguishing between households that switched contracts but stayed with the same supplier (internal switching) from those that switched to a new supplier (external switching). The econometric analysis includes a wide range of individual preferences, structural factors, and socio-demographic characteristics; in particular, it is the first paper to explicitly explore the role of time and risk preferences on switching behaviors. The main results suggest that internal and external switching are not related to the same factors, that risk and time preferences affect switching behaviors, and that renters are less likely to switch than homeowners. |
| Keywords: | electricity supplier switching,inertia,liberalization,time preferences,risk preferences |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:s142017&r=reg |
| By: | Claudio Agostini (Escuela de Gobierno, Universidad Adolfo Ibáñez); Shahriyar Nasirov; Carlos Silva; Gustavo Caceres |
| Date: | 2017–08 |
| URL: | http://d.repec.org/n?u=RePEc:uai:wpaper:wp_053&r=reg |
| By: | Avenali, Alessandro; Bracaglia, Valentina; D’Alfonso, Tiziana; Reverberi, Pierfrancesco |
| Abstract: | There are many examples of airline-high speed rail vertical agreements, where the airline buys train seats to sell the multimodal product. We discuss the formation of such agreements, depending on the sunk costs of cooperation and firms’ bargaining power, and their welfare effects, depending on hub airport capacity and mode substitution. We argue that, contrary to mergers, vertical agreements largely benefit passengers. We propose a simple test as a ‘safe harbor’, which provides a sufficient condition for consumer surplus to be higher under vertical agreements. It may be optimal to subsidize desirable agreements when they are not incentive-compatible for firms. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:sit:wpaper:17_5&r=reg |
| By: | Valeria Costantini; Francesco Crespi; Elena Paglialunga |
| Abstract: | This paper investigates the effects of private and public actions for energy efficiency on EU employment dynamics, relying on an econometric analysis on a sector-based panel dataset for 15 EU countries (1995-2009). Results show that after accounting for the sectoral output growth, investment and innovation activities, sectoral energy efficiency gains display a negative effect on employment growth, especially in energy intensive industries. Conversely, public actions towards energy efficiency may produce positive effects on employment dynamics. Indeed, the higher incidence of taxation on energy costs, the energy efficiency gains realized in the public sector industries and the implementation of a comprehensive policy mix at the country level, are factors positively influencing employment growth. This evidence highlights the complexity of the nexus between energy efficiency and employment dynamics, suggesting that superior employment performances can be achieved when complementarity effects between productivity enhancing activities and energy efficiency actions are realized. |
| Keywords: | Energy Efficiency, Public Policies, Employment, Manufacturing Sectors, Eco- Innovation, European Union |
| JEL: | C23 L60 O33 Q52 |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:rtr:wpaper:0227&r=reg |
| By: | Georges Vivien Houngbonon (LGI - Laboratoire de Genie Industriel - CentraleSupélec); Julienne Liang (France Télécom) |
| Abstract: | Policy makers are aiming for a large coverage of high-speed broadband Internet. However , there is still a lack of evidence about its effects on income distribution. In this paper, we investigate the effects of fixed broadband Internet on mean income and income inequality using a unique town-level data on broadband adoption and quality in France. We find that broadband adoption and quality raise mean income and lower income inequality. These results are robust to initial conditions, and yield policy implications for the deployment of faster broadband Internet. |
| Keywords: | Broadband Internet,Income Inequality,Telecommunications |
| Date: | 2017–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01653815&r=reg |
| By: | Boussena, S.; Locatelli, C. |
| Abstract: | Confronted with an increasingly competitive market in the European Union and the credible threat of a new entrant in the form of liquefied natural gas imports from the United States, Gazprom’s traditional export strategy is open to question. The company must decide whether it should launch a price war in order passively to adapt to impending competition and its role as a ‘residual supplier’ to the EU gas market, or whether it should take advantage of the current price uncertainty. This article explores the scope for long-term strategic action by Gazprom other than simply engaging in a price war. It is argued that Gazprom could forge a position as a key player in the EU gas market capable of playing the same role as Saudi Arabia does in the global oil market. |
| Keywords: | GAS;LNG;COMPETITION;EU;RUSSIA;GAZPROM |
| JEL: | Q41 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:gbl:wpaper:2017-09&r=reg |
| By: | Gerster, Andreas |
| Abstract: | As of May 1, 2014, sellers on the German real estate market are obliged to disclose a house's energy consumption per square meter in their advertisements. The effect of this law has been to substantially increase the transparency of the real estate market. At the same time, the introduction of mandatory disclosure had impacts on asking prices: Houses with poor thermal quality became cheaper, with no price change seen for houses with high thermal quality. This is likely due to the fact that sellers of houses with high energy consumption typically did not include this information in their advertisement before the new regulation. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwiimp:171355&r=reg |
| By: | Philip Daniel; Alan Krupnick; Thornton Matheson; Peter Mullins; Ian Parry; Artur Swistak |
| Abstract: | This paper suggests that the environmental and commercial features of shale gas extraction do not warrant a significantly different fiscal regime than recommended for conventional gas. Fiscal policies may have a role in addressing some environmental risks (e.g., greenhouse gases, scarce water, local air pollution) though in some cases their net benefits may be modest. Simulation analyses suggest, moreover, that special fiscal regimes are generally less important than other factors in determining shale gas investments (hence there appears little need for them), yet they forego significant revenues. |
| Date: | 2017–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:17/254&r=reg |
| By: | Luca Corrazzini (Department of Economics, University Of Venice Cà Foscari; ISLA, Bocconi University, Milan); Stefano Galavotti (Department of Economics and Management, University of Padua); Paola Valbonesi (University of Padua; National Research University Higher School of Economics, Moscow and Perm) |
| Abstract: | We experimentally study bidding behavior in sequential first-price procurement auctions where bidders’ capacity constraints are private information. Treatment differs in the ex-ante probability distribution of sellers’ capacities and in the (exogenous) probability that the second auction is actually implemented. Our results show that: (i) bidding behavior in the second auction conforms with sequential rationality; (ii) while first auction’s bids negatively depend on capacity, bidders seem unable to recognize this link when, at the end of the first auction, they state their beliefs on the opponent’s capacity. To rationalize this inconsistency between bids and beliefs, we conjecture that bidding in the first auction is also affected by a hidden, behavioral type – related to the strategic sophistication of bidders – that obfuscates the link between capacity and bids. Building on this intuition, we show that a simple level-k model may help explain the inconsistency. |
| Keywords: | Sequential auctions, capacity constraints, belief inconsistency |
| JEL: | D44 D91 H57 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2017:30&r=reg |
| By: | Luís Aguiar-Conraria (NIPE and Economics Department, University of Minho); Maria Joana Soares (NIPE and Department of Mathematics and Applications, University of Minho.); Rita Sousa (NIPE and Economics Department, University of Minho) |
| Abstract: | Carbon price is a key variable in management and risk decisions in activities related to the burning of fossil fuels. Different major players in this market, such as polluters, regulators, and fi nancial actors have different time horizons. Using innovative multi-variate wavelet analysis tools, including partial wavelet coherency and partial wavelet gain, we study the link between carbon prices and final energy prices in the time and frequency dimensions in California´s carbon market, officially known as the California cap-and-trade program. We fi nd that gasoline prices lead an anti-phase relation with carbon prices. This result is very stable at lower frequencies (close to one-year period cycles), and it is also present before mid-2015 in the 20 ~ 34 weeks frequency-band. Regarding electricity, we find that at about 1 year frequencies, a rise in carbon prices is reflected in higher electricity prices. We conclude that the fi rst five years of compliance of the California cap-and-trade program supports the idea that emissions´trading is a signi cant measure for climate change mitigation, with visible rising carbon prices. The quantitative financial analytics we present here supports the continuation of the program after 2020. |
| Keywords: | Multivariate wavelet analysis; partial wavelet gain; partial wavelet coherency; carbon market; energy prices; California ETS. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:nip:nipewp:13/2017&r=reg |
| By: | Johanna CHOUMERT (Centre d'Etudes et de Recherches sur le Développement International(CERDI)); Pascale COMBES MOTEL (Centre d'Etudes et de Recherches sur le Développement International(CERDI)); Pierre Leonard LE ROUX |
| Abstract: | Energy-use statistics in Tanzania reflect the country’s low level of industrialization and development. In 2016, only 16.9% of rural and 65.3% of urban inhabitants in mainland Tanzania were connected to some form of electricity. We use a nationally representative three-wave panel dataset (2008-2013) to contribute to the literature on household energy use decisions in Tanzania in the context of the stacking and energy ladder hypotheses. We firstly adopt a panel multinomial-logit approach to model the determinants of household cooking- and lighting-fuel choices. Secondly, we focus explicitly on energy stacking behaviour, proposing various ways of measuring what is inferred when stacking behaviour is thought of in the context of the energy transition and presenting household level correlates of energy stacking behaviour. Thirdly, since fuel uses have gender-differentiated impacts, we investigate women’s bargaining power in the decision-making process of household fuel choices. We find that whilst higher household incomes are strongly associated with a transition towards the adoption of more modern fuels, especially lighting fuels, this transition takes place in a context of significant fuel stacking. In Tanzania, government policy has been aimed mostly at connecting households to the electric grid. However, the public health, environmental and social benefits of access to modern energy sources are likely to be diminished in a context of significant fuel stacking. Lastly, we present evidence that the educational attainment of women in the household is an important aspect of household fuel choices. |
| Keywords: | Fuel choices, Intra-household bargaining, Sub-Saharan Africa. |
| JEL: | N5 Q41 O13 |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:cdi:wpaper:1900&r=reg |