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on Energy Economics |
| By: | Amigues, Jean-Pierre; Lafforgue, Gilles; Chakravorty, Ujjayant; Moreaux, Michel |
| Abstract: | In order to encourage substitution of fossil fuels by cleaner renewables, regulatory agencies have generally chosen between two types of renewable energy standards. They have either mandated a minimum volume of renewable energy as in the case of ethanol in transport fuels, and for electricity in Texas and Iowa. Or they have specified a minimum blend (share) of renewables in the energy supply mix as in California, Michigan and many other states. This paper uses a simple model to compare the dynamic effects of these two policies. We show that a volume mandate leads to a lower energy price, induces a greater subsidy on clean energy and a smaller fossil fuel tax than the blend mandate. The volume mandate also leads to larger cumulative renewable energy use over the time horizon. We illustrate the model with plausible parameter values and show that the two energy mandates lead to large differences in fossil fuel taxes and clean energy subsidies. |
| Keywords: | Renewable energy mandates; Fossil fuels; Energy transition; Subsidies; Carbon tax |
| JEL: | Q42 Q48 Q54 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:124615&r=all |
| By: | Salaheddine Soummane (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - AgroParisTech - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement); Frédéric Ghersi (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - AgroParisTech - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement); Julien Lefèvre (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - AgroParisTech - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement) |
| Abstract: | Highlights We calibrate a hybrid dynamic recursive CGE model of Saudi Arabia on original data We acknowledge the Saudi specifics of currency peg and investment stability We explore 3 scenarios of international and domestic energy prices Low global prices affect Saudi GDP little but lower national and public savings Reformed domestic prices restore activity but not national or public savings Abstract We analyse the mid-term macroeconomic challenge to Saudi Arabia of a global low-carbon transition reducing oil revenues, versus the opportunity of national energy reforms. We calibrate a compact, dynamic recursive model of Saudi Arabia on original energy-economy data to explore scenarios. We first assess the consequences of oil prices declining from their levels in the New Policies Scenario (NPS) of the IEA, to their levels in its Sustainable |
| Keywords: | Administered energy prices,Low-carbon transition,Hybrid energy-economy modelling,Saudi Arabia |
| Date: | 2019–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02924714&r=all |
| By: | Eicke, Anselm; Ruhnau, Oliver; Hirth, Lion |
| Abstract: | Stable power systems require equalizing demand and supply of electricity at short time scales. Such electricity balancing is often understood as a sequential process: exogenous shocks, such as weather events or technical outages, cause system imbalances that system operators close by activating balancing reserves. By contrast, we study electricity balancing as a market where the equilibrium price (imbalance charge) and quantity (system imbalance) are determined endogenously by supply and demand. System operators supply imbalance energy by activating reserves. Market parties that, deliberately or not, deviate from schedules create demand for imbalance energy. When deliberately taking open positions, firms respond to price signals from electricity markets and imbalance charges. Based on this market framework, we estimate the demand curve of imbalance energy, and hence the price responsiveness of market parties to deviate from schedules. To overcome the classical endogeneity problem of price and quantity in the market equilibrium, we deploy instruments that we derive from a novel theoretical framework. Using data from Germany, we find that firms reduce the physical system imbalance by about 2.8 MW for each increase in the imbalance charge by EUR 1 per MWh. This price response is remarkable because such behavior is prohibited. It is, however, beneficial: on average, such strategic deviations reduced the German system imbalance by 20%. |
| Keywords: | Electricity balancing,Intraday electricity market,Imbalance energy,Arbitrage trading |
| JEL: | Q41 L51 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:223062&r=all |
| By: | Fernando Giuliano (World Bank); Maria Ana Lugo (World Bank); Ariel Masut (YPF S. A); Jorge Puig (CEDLAS-IIE-FCE-UNLP) |
| Abstract: | We analyze the distributional effects of the reduction in energy subsidies in Argentina since 2016. As the policy reform also includes the introduction of a scheme to protect less well-off families (social tariff), we also review how well the targeting mechanism works. We apply traditional benefit-incidence analysis using household surveys and administrative data, focusing on residential subsidies to natural gas and electricity in the Buenos Aires Metropolitan Area. We find that the social tariff is relatively pro-poor, with significantly higher coverage among the poorest households. There are some exclusion errors in the low-income deciles and large inclusion errors in the medium- and high-income deciles. The distributive incidence of subsidies does not appear to have changed substantially. Energy subsidies in Argentina (lower in aggregate terms) continue to be, although progressive, pro-rich. The distributional effect is explained by the fact that generalized subsidies to all categories of consumption coexist with a relatively well targeted social tariff. Regarding energy budget shares, monthly spending on electricity has increased from 1.1 percent of total household income to 3.4 percent. Monthly spending on piped gas rose from 1.3 percent to 3.3 percent. These shares are in line with many other countries in the region. Naturally, there has been a convergence of tariffs toward service provision costs. |
| JEL: | H22 D31 D78 Q48 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:dls:wpaper:0267&r=all |
| By: | Jie Yang (University of Toyama); Yijing Huang (Peking University) |
| Abstract: | This study estimates the impact of the 2009/2010 drought in southwestern China on economic activities and CO2 emissions. We focus on the economic outcomes of the power and energyintensive sectors to investigate the substitution between hydropower and thermal power during this extreme drought. Panel data for 97,387 firms from 2006 to 2013 are used to examine the responses of firms to this extreme climatic event. We find that severe drought reduces hydropower generation, as well as the economic outputs of energy-intensive sectors, while it increases the power generated by coal-fired power plants. As a result, the net emissions of carbon dioxide between 2009 and 2013 increased by 443,425 tons. The findings suggest that climate disasters may increase carbon emissions, thereby posing a threat to further climate change. |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:koe:wpaper:2015&r=all |
| By: | Francesca Diluiso; Barbara Annicchiarico; Matthias Kalkuhl; Jan C. Minx |
| Abstract: | Limiting global warming to well below 20C may result in the stranding of carbon-sensitive assets. This could pose substantial threats to financial and macroeconomic stability. We use a dynamic stochastic general equilibrium model with financial frictions and climate policy to study the risks a low-carbon transition poses to financial stability and the different instruments central banks could use to manage these risks. We show that, even for very ambitious climate targets, transition risks are limited for a credible, exponentially growing carbon price, although temporary “green paradoxes” phenomena may materialize. Financial regulation encouraging the decarbonization of the banks’ balance sheets via tax-subsidy schemes significantly reduces output losses and inflationary pressures but it may enhance financial fragility, making this approach a risky tool. A green credit policy as a response to a financial crisis originated in the fossil sector can potentially provide an effective stimulus without compromising the objective of price stability. Our results suggest that the involvement of central banks in climate actions must be carefully designed in compliance with their mandate to avoid unintended consequences. |
| Keywords: | climate policy, financial instability, financial regulation, green credit policy, monetary policy, transition risk |
| JEL: | E50 H23 Q43 Q50 Q58 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8486&r=all |
| By: | HINDRIKS Jean, (Université catholique de Louvain, CORE, Belgium); SERSE Valerio, (Université catholique de Louvain, CORE, Belgium) |
| Abstract: | In April 2014, the Belgian government reduced the VAT rate on the electricity price from 21% to 6%. In September 2015, however, this tax cut was repealed, and the VAT rate was reinstated to 21%. This paper investigates the impact of such temporary exogenous VAT reform on the Belgian electricity market. We study both the pass-through of the VAT reform to electricity prices and the effect of this (exogenous) price change on electricity consumption. We estimate the VAT pass-through by a difference-in-differences approach using business electricity prices (not subject to VAT) as a control group. To estimate the impact of the VAT change on demand, we perform an event study on the electricity flowed monthly over the grid at the network operator level. Our findings reveal that both the tax cut and the tax hike were entirely shifted to the electricity price (i.e., 100%). Exploiting different sources of price variation, our results reveal a price elasticity of residential demand for electricity between -0.09 and -0.17. Interestingly, we also find that consumption reacted quickly and symmetrically to the VAT cut and the subsequent VAT hike. |
| Keywords: | tax incidence, VAT reform, demand elasticity, electricity markets |
| JEL: | H21 H22 H23 Q41 Q48 |
| Date: | 2020–02–11 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2020012&r=all |
| By: | Zhiyang SHEN (Beijing Institute of Technology, Beijing, China); Michael VARDANYAN (IESEG School of Management, Lille, France); Tomas BALEZENTIS (Lithuanian Institute of Agrarian Economics, Vilnius, Lithuania); Jianlin WANG (Dongbei University of Finance and Economics, Dalian, China) |
| Abstract: | The so-called by-production approach, introduced by Murty and Russell (2002) and Murty et al. (2012), has provided researchers with an improved methodology for approximating polluting production technologies. However, since the original by-production model does not impose any relationship between its economic and environmental sub-technologies, it is not capable of addressing the potential tradeoff between the economic and environmental performance. Although this link has been recently proposed in the extensions to the original by-production approach, the tradeoff framework remains ambiguous with respect to the weights to be assigned to the economic and environmental sub-objectives. This paper proposes a novel approach for estimating the green productivity growth in the Chinese manufacturing sector based on the scenario analysis simulating policy preferences. Our model allows us to measure the tradeoff between faster economic growth and better environmental protection, providing policy-makers with insights on how to steer the Chinese industry towards a more environmentally friendly development path in the future. |
| Keywords: | : Tradeoff analysis; By-production technology; Carbon emissions; Green productivity; Chinese manufacturing. |
| JEL: | O47 Q5 O2 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:ies:wpaper:e202005&r=all |
| By: | López Prol, Javier; O, Sungmin |
| Abstract: | As COVID-19 spreads worldwide, governments have been implementing a wide range of measures to contain it, from movement restrictions to economy-wide shutdowns. Understanding their impacts is essential to support better policies for countries still experiencing outbreaks or in case of emergence of second pandemic waves. Here we show that the cumulative decline in electricity consumption within the four months following the stay-home orders ranges between 4-13% in the most affected EU countries and USA states, except Florida that shows no significant impact. Whereas the studied USA states have recovered baseline levels, electricity consumption remains lower in the European countries. These results illustrate the severity of the crisis across countries and can support further research on the effect of specific measures, evolution of economic activity or relationship with other high-frequency indicators. |
| Keywords: | pandemic, energy, coronavirus, epidemic |
| JEL: | Q4 |
| Date: | 2020–07–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101649&r=all |
| By: | Falchetta, Giacomo; Stevanato, Nicolò; Moner-Girona, Magda; Mazzoni, Davide; Colombo, Emanuela; Hafner, Manfred |
| Abstract: | Globally about 800 million people live without electricity at home, over two thirds of which are in sub-Saharan Africa. Ending energy poverty is a key development priority because energy plays an enabling role for human wellbeing and economic activities. Planning electricity access infrastructure and allocating resources efficiently requires a careful assessment of the diverse energy needs across space, time, and sectors. However, because of data scarcity, most country or regional-scale electrification planning studies have been based on top-down electricity demand targets. Yet, poorly representing the heterogeneity in the electricity demand can lead to inappropriate energy planning, inaccurate energy system sizing, and misleading cost assessments. Here we introduce M-LED, Multi-sectoral Latent Electricity Demand, a geospatial data processing platform to estimate electricity demand in communities that live in energy poverty. The key novelties of the platform are the multi-sectoral, bottom-up, time-explicit demand evaluation and the assessment of water-energy-agriculture-development interlinkages. We apply the methodology to the country-study of Kenya. Our findings suggest that a bottom-up approach to evaluating energy needs across space, time, and sectors is likely to improve the reliability and accuracy of supply-side electrification modelling and therefore of electrification planning and policy. |
| Keywords: | Resource /Energy Economics and Policy |
| Date: | 2020–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemfe:305213&r=all |
| By: | Di Foggia, Giacomo |
| Abstract: | Policies for steering energy efficiency projects have multiple implications. Among others: economic opportunity, decrease of greenhouse gas emissions, security of supply, technological development. One of the key new instruments foreseen to support energy efficiency improvements is the energy efficiency certificate (EEC). Focusing on the industrial business case, the objective of this study is twofold. First, the paper analyses and discuss the energy performance contract, second it shows how EECs concur in supporting the investment. Specifically, results suggest that thanks to this instrument the payback time would be around 20% below the baseline hypothesis |
| Date: | 2020–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:s8jma&r=all |
| By: | Calel, Raphael |
| Abstract: | One important motivation for creating cap-and-trade programs for carbon emissions is the expectation that they will stimulate much-needed low-carbon innovation. I construct a new panel of British firms to investigate this hypothesis, finding that the European carbon market has encouraged greater low-carbon patenting and R&D spending among regulated firms without necessarily driving short-term reductions in carbon intensity of output. This stands in contrast to past cap-and-trade programs, which have primarily spurred adoption of existing pollution control technologies, with little effect on innovation. I discuss how to reconcile these contrasting findings and implications for the future of carbon markets. |
| JEL: | D21 O32 O34 Q52 Q54 Q58 |
| Date: | 2020–08–03 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:106257&r=all |
| By: | Ingo E. Isphording; Nico Pestel |
| Abstract: | We study the impact of short-term exposure to ambient air pollution on the spread and severity of COVID-19 in Germany. We combine data on county-by-day level on confirmed cases and deaths with information on local air quality and weather conditions and exploit short-term variation in the concentration of particulate matter (PM10) and ozone (O3). We apply fixed effects regressions controlling for global time-varying confounding factors and regional time-invariant confounding factors on the county level, as well as potentially confounding weather conditions and the regional stage of the pandemic. We find significant positive effects of PM10 concentration after the onset of the illness on COVID-19 deaths specifically for elderly patients (80+ years): higher levels of air pollution by one standard deviation 3 to 12 days after developing symptoms increase deaths by 30 percent (males) and 35 percent (females) of the mean. In addition, air pollution raises the number of confirmed cases of COVID-19. The timing of results supports mechanisms of air pollution affecting the severity of already realized infections. Air pollution appears not to affect the probability of infection itself. |
| Keywords: | COVID-19, health, air pollution, Germany |
| JEL: | I12 I18 Q53 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8495&r=all |
| By: | Lisa Bagnoli; Salvador Bertomeu; Antonio Estache |
| Abstract: | This paper analyses the links between the ownership choices (i.e. public versus private) made by Latin and Central American countries for their electricity utilities and related basic social indicators at the expenditure quintile level (i.e. household access to electricity and energy poverty/affordability). From a multinomial logit model accounting for a wide range of controls, we find that energy poverty/affordability issues are more likely in countries with public operators but that these countries are also more likely to have better access rates. We also find that the creation of a separate regulatory agency is associated with better social outcomes when the operator is private than when it is public. These results have various interpretations, ranging from the illustration that better matching of ownership with other reforms is needed to get better social outcomes, to the possibility that the data reflects the effects of cream skimming by private operators preferring countries with lower poverty issues, leaving the socially challenging countries to public providers. |
| JEL: | D02 D47 L50 L94 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/312246&r=all |
| By: | Gretszel, Piotr; Gurgul, Henryk; Lach, Łukasz; Schleicher, Stefan |
| Abstract: | The COVID 19 pandemic has had a great impact on the European Union economies in many aspects, also with regard to the discussion on the future of EU climate policy. The plan to rebuild and support the European Union's economy, which is currently under discussion at European governments summits, seems to place less emphasis on environmental issues as the main focus is being placed on a quick recovery of EU economy in the realms of global competition. One of the issues discussed in the EU's recovery plan following the COVID19 epidemic is the continued operation of the EU ETS. In this context, empirical research devoted to a thorough analysis of the impact of the EU emissions trading program is of particular importance. At the same time, current economic literature lacks any econometric analyzes devoted to the issues in question that would use detailed and reliable databases on EU ETS like the one provided by the Wegener Center for Climate and Global Change. The aim of this paper is to make a preliminary assessment of the effectiveness of the EU ETS in terms of reducing the actual emissions to the air while preserving economic growth of EU member states. The extensive empirical analysis is focused on examining the issues in question for different phases of the EU ETS and various groups of EU economies that vary in terms of economic development and the overall air pollutant emission. |
| Keywords: | EU ETS, GMM, panel data |
| JEL: | C33 Q43 Q5 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102396&r=all |
| By: | Newbery, D. |
| Abstract: | Transport policy needs reform. Future Government investment and fiscal policy needs re-orienting to stimulate the economy after the Covid-19 lock-down. Prices used in project appraisal must include all external effects, committing to proper social cost-benefit analysis. In consequence, fuel duty rates need to be more than doubled as a prelude to proper road pricing. Transport investment needs to be increased even with proper road pricing and more allocated to walking and cycling, guided by benefit-cost ratios, following Eddington’s recommendations. The paper gives five reasons for raising fuel duty rates, more on diesel than petrol, and estimates the desired levels. |
| Keywords: | Transport policy, fuel taxes, road pricing, road investment |
| JEL: | D62 H23 R41 R48 |
| Date: | 2020–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2081&r=all |
| By: | Asongu, Simplice A; Odhiambo, Nicholas M |
| Abstract: | This study assesses how globalisation modulates the effect of environmental degradation on inclusive human development in 44 countries in Sub-Saharan Africa (SSA), using data for the period 2000 to 2012. The empirical results are based on the Generalized Method of Moments (GMM). The following main findings are established. First, a trade openness (imports + exports) threshold of between 80-120% of GDP is the maximum level required for trade openness to effectively modulate CO2 emissions (metric tonnes per capita) and induce a positive effect on inclusive human development. Second, a minimum threshold required for trade openness to modulate CO2 intensity (kg per kg of oil-equivalent energy use) and induce a positive effect on inclusive human development is 200% of GDP. Third, there is a net positive effect on inclusive human development from the relevance of trade openness in modulating the effect of CO2 emissions per capita on inclusive human development and a negative net effect on inclusive human development from the importance of trade openness in moderating the effect of CO2 intensity on inclusive human development. |
| Keywords: | CO2 emissions; Economic development; Africa |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:uza:wpaper:26636&r=all |
| By: | Bård Harstad; Francesco Lancia; Alessia Russo |
| Abstract: | We characterize the optimal policy and policy instruments for self-enforcing treaties when countries invest in green technology before they pollute. If the discount factor is too small to support the first best, then both emissions and investments will be larger than in the first best, when technology is expensive. When technology is inexpensive, countries must instead limit or tax green investment in order to make future punishment credible. We also uncover a novel advantage of price regulation over quantity regulation, namely that when regulation is sufficiently flexible to permit firms to react to non-compliance in another country, the temptation to defect is reduced. The model is tractable and allows for multiple extensions. |
| Keywords: | climate change, environmental agreements, green technology, policy instruments, repeated games, compliance, self-enforcing treaties |
| JEL: | D86 F53 H87 Q54 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8460&r=all |
| By: | Andreas Löschel; Matthias Rodemeier; Madeline Werthschulte |
| Abstract: | Non-pecuniary incentives motivated by insights from psychology (“nudges”) have been shown to be effective tools to change behavior in a variety of fields. An often unanswered question relevant for public policy is whether these promising interventions can be scaled up. In cooperation with a large public utility in Germany, we develop an energy savings application for mobile phones that can be used by the majority of the population. The app randomizes a goal-setting nudge prompting users to set themselves energy consumption targets. The roll-out of the app is promoted by a mass-marketing campaign and large financial incentives. Results document low demand for the energy app in the general population and a tightly estimated null effect of the nudge on electricity consumption among app users. A likely mechanism of the null effect is unfavorable self-selection into the app: users are characterized by an already low baseline energy consumption and exhibit none of the behavioral biases that typically explain why goal setting affects behavior. We also find that the nudge significantly decreases the likelihood to use the app over time. Structural estimates imply that the average user is willing to pay 7.41 EUR to avoid the nudge and the intervention would yield substantial welfare losses if implemented nationwide. |
| Keywords: | nudging, goal setting, scalability, field experiments, energy, behavioural welfare economics, mobile phones |
| JEL: | C93 D91 Q49 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8485&r=all |
| By: | Boom, Anette (Department of Economics, Copenhagen Business School); Schwenen, Sebastian (Technical University of Munich, School of Management, and DIW Berlin (Germany)) |
| Abstract: | We examine the effects of real-time pricing on welfare and consumer surplus in electricity markets. We model consumers on real-time pricing who purchase electricity on the wholesale market. A second group of consumers contracts with retailers and pays time-invariant retail prices. Electricity generating firms compete in supply functions. Increasing the number of consumers on real-time pricing increases welfare and consumer surplus of both types of consumers. Yet, risk averse consumers on traditional time-invariant retail prices are always better off. Collectively, our results point to a public good nature of demand response in power markets when consumers are risk-averse. |
| Keywords: | Electricity; Real-time pricing; Market power; Efficiency |
| JEL: | D42 D43 D44 L11 L12 L13 |
| Date: | 2020–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cbsnow:2020_012&r=all |
| By: | Löschel, Andreas; Rodemeier, Matthias; Werthschulte, Madeline |
| Abstract: | Non-pecuniary incentives motivated by insights from psychology ("nudges") have been shown to be effective tools to change behavior in a variety of fields. An often unanswered question relevant for public policy is whether these promising interventions can be scaled up. In cooperation with a large public utility in Germany, we develop an energy savings application for mobile phones that can be used by the majority of the population. The app randomizes a goal-setting nudge prompting users to set themselves energy consumption targets. The roll-out of the app is promoted by a mass-marketing campaign and large financial incentives. Results document low demand for the energy app in the general population and a tightly estimated null effect of the nudge on electricity consumption among app users. A likely mechanism of the null effect is unfavorable self-selection into the app: users are characterized by an already low baseline energy consumption and exhibit none of the behavioral biases that typically explain why goal setting affects behavior. We also find that the nudge significantly decreases the likelihood to use the app over time. Structural estimates imply that the average user is willing to pay 7.41 EUR to avoid the nudge and the intervention would yield substantial welfare losses if implemented nationwide. |
| Keywords: | nudging,goal setting,scalability,field experiments,energy,behavioral welfare economics,mobile phones |
| JEL: | C93 D91 Q49 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:20039&r=all |
| By: | Christoph Hambel; Holger Kraft; Rick van der Ploeg |
| Abstract: | Asset pricing and climate policy are analyzed in a global economy where consumption goods are produced by both a green and a carbon-intensive sector. We allow for endogenous growth and three types of damages from global warming. It is shown that, initially, the desire to diversify assets complements the attempt to mitigate economic damages from climate change. In the longer run, however, a trade-off between diversification and climate action emerges. We derive the optimal carbon price, the equilibrium risk-free rate, and risk premia. Climate disasters, which are more likely to occur sooner as temperature rises, significantly increase risk premia. |
| Keywords: | decarbonisation, diversification, carbon price, asset prices, green assets, disaster risk |
| JEL: | D81 G01 G12 Q50 Q54 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_8476&r=all |
| By: | Al-Mudhafar, Watheq J. (Basrah Oil Company); Rao, Dandina N; Srinivasan, Sanjay |
| Abstract: | The EOS-compositional reservoir simulation, Design of Experiments, and Proxy Modeling were integrated to obtain the optimal future performance scenario and to construct the most accurate simplified model alternative to the complex reservoir flow simulation. This integrated workflow was adopted on a sector of the main pay/upper sandstone member in the South Rumaila oil field, located in Iraq. After conducting the acceptable history matching, 6 operational decision parameters, which constrain the production and injection activities, were optimized for their optimal level to achieve optimal flow response factor. Given these decision parameters, the Latin Hypercube Sampling was employed as a low-discrepancy and uniform approach to create hundreds of simulation runs (experiments) to construct a proxy-based optimization approach. The optimal cumulative oil production, by the end of the prediction period, led to obtaining 4.6039 MMMSTB of oil production, while the base case of the GAGD process evaluation of default parameters’ setting resulted to obtain 4.3887 MMMSTB of oil production. Finally, four proxy metamodels were constructed to provide simplified models alternative to the complex compositional reservoir simulation: Second-Degree Polynomial Equation (QM), Multivariate Additive Regression Splines (MARS), Fuzzy Logic-Genetic Algorithm (FUzzy-GEnetic), and Generalized Boosted Modeling (GBM). The cross-validation with Adjusted $R^{2}_{adj}$ and Root Mean Square Error were employed to find the optimal proxy model that has the least mismatch between the proxy- and simulator-based cumulative oil production response through CO2-GAGD process. It was concluded that both GBM and FUzzy-GEnetic are the most accurate simplified alternative metamodels for the GAGD Process evaluation and prediction. |
| Date: | 2019–12–04 |
| URL: | http://d.repec.org/n?u=RePEc:osf:eartha:wsu6g&r=all |
| By: | Kassim, Fatima; Isik, Abdurrahman |
| Abstract: | Economies around the world are on the move to ensure sustainable economic development and a clean atmosphere through the use of renewable energy sources. The importance of energy to all human aspects has been spiking as the world keeps evolving. This has made an exciting field of research to major academicians towards providing sound measures to governments in areas of developing the society at large. Using a systematic method of literature review, this work analyses the energy trend, as well as the energy-growth nexus research, carried out in transition economies. The concluding result after the systematic review shows that (14%) of the study confirms the growth hypothesis, (54%) feedback hypothesis, (9%) neutrality hypothesis, and (23%) conservation hypothesis. |
| Keywords: | Energy, economic growth, resources, transition economies, systematic review. |
| JEL: | O1 Q4 Q5 |
| Date: | 2020–07–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101601&r=all |
| By: | Fu, Shihe; Viard, Brian; Zhang, Peng |
| Abstract: | The economic costs of trans-boundary pollution spillovers versus local effects is a necessary input in evaluating centralized versus decentralized environmental policies. Directly estimating these for air pollution is difficult because spillovers are high-frequency and vary with distance while economic outcomes are usually measured with low-frequency and local pollution is endogenous. We develop an approach to quantify local versus spillover effects as a flexible function of distance utilizing commonly-available pollution and weather data. To correct for the endogeneity of pollution, it uses a mixed two-stage least squares method that accommodates high-frequency (daily) pollution data and low-frequency (annual) outcome data. This avoids using annual pollution data which generally yields inefficient estimates. We apply the approach to estimate spillovers of particulate matter smaller than 10 micrograms (PM10) on manufacturing labor productivity in China. A one μg/m3 annual increase in PM10 locally reduces the average firm’s annual output by CNY 45,809 while the same increase in a city 50 kilometers away decreases it by CNY 16,248. The spillovers decline quickly to CNY 2,847 at 600 kilometers and then slowly to zero at about 1,000 kilometers. The results suggest the need for supra-provincial environmental policies or Coasian prices quantified under the approach. |
| Keywords: | Air pollution; spillovers; environmental costs and benefits, mixed two-stage least squares; regional coordination |
| JEL: | D62 Q51 Q53 R11 |
| Date: | 2019–08–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102438&r=all |
| By: | Bergougui, B.; Murshed, S.M. |
| Abstract: | This study re-examines the validity of oil-hinders-democracy hypothesis by comparing the long-term effects of oil abundance and oil dependence democracies individually. Based on five novel measures of democracy from V-DEM dataset, we test this hypothesis on data from 95 developing countries over the period 1932–2014. Our analyses show some nuances in the oil-democracy relationship. First, that oil wealth adversely affects democracy across the full sample. Second, once we classified developing countries into five sub-samples, we consistently find that the influence of oil wealth (abundance/dependence) measures on democracy varies across geographical regions as well as small and large-scale oil endowment countries. Third, we find that institutional quality in the form of rule of law plays a crucial role in altering the oil–democracy link. Overall, we provide ample support for ‘Conditionalist view’. In other words, oil has different effects on democracy in the context of oil abundancy, geographic regions, and institutional aspects. More importantly, it seems that oil abundance does not hinder democracy in each of the five sub-samples and in some instances can even be a blessing. Thus, it is worthy to make a distinction between these two types of oil wealth to better understand the oil-democracy relationship. |
| Keywords: | resource curse, democratic institutions, oil abundance, oil dependence, PVAR |
| Date: | 2020–04–07 |
| URL: | http://d.repec.org/n?u=RePEc:ems:euriss:125992&r=all |
| By: | Mugabe, Douglas; Elbakidze, Levan; Zaynutdinova, Gulnara |
| Keywords: | Industrial Organization, Resource/Energy Economics and Policy, Production Economics |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304361&r=all |
| By: | Akram, Q. Farooq |
| Abstract: | Empirical relationships between crude oil prices and exchange rates of oil exporting countries tend to vary over time. I use econometric models of the norwegian and canadian nominal exchange rates to investigate whether such time-variation could reflect shifts in the key oil price drivers over time. Results suggest that demand- and supply-driven oil price increases strengthen these currencies to different extents. In contrast, heightened geopolitical uncertainty and associated oil price increases go together with a weakening of oil exporters’ currencies. The latter result may explain coincidences of higher oil prices and a weakening of oil exporters’ currencies. |
| Keywords: | Exchange rates, commodity currencies, oil prices, uncertainty |
| JEL: | F31 F32 Q41 C22 C51 |
| Date: | 2019–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:bno:worpap:2019_15&r=all |
| By: | Basu, Rahul; Pegg, Scott |
| Abstract: | Many countries badly mismanage their natural resource endowments. We argue that a fundamental change in paradigm is needed. Specifically, we advocate treating non-renewable natural resources as a finite shared inheritance asset, and extraction as the sale of the inherited wealth. We identify several proposals that logically derive from treating natural resource proceeds as sales of a finite intergenerational inheritance rather than as revenues that can be spent. Such proposals suggest that mineral owners must strive for zero-loss when selling minerals, establish a passively invested future generations fund from the proceeds and distribute dividends from that fund to citizens as the rightful owners of the shared inheritance. The current dominant metaphor of proceeds from the exploitation of non-renewable mineral resources as being “windfall revenues” is underpinned by government accounting standards. The “windfall revenue” metaphor is not only inaccurate but also produces several pernicious effects that help explain the poor management of natural resource endowments in so many countries. We do not anticipate that our ideas will quickly overturn decades of established practice. We do, however, believe that the case needs to be made. |
| Keywords: | resource curse; government accounting standards; inter-generational equity; public sector net worth; shared inheritance |
| JEL: | B52 E2 E62 G02 G1 H2 H3 H4 H54 H6 H82 K0 Q3 Z1 |
| Date: | 2020–06–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102270&r=all |
| By: | Amankwah-Amoah, Joseph |
| Abstract: | The allure for businesses to jettison short-term costly processes, regulatory demands and green business practices (GBPs) in the turbulent times of COVID-19 remains sky high. Although GBPs and eco-friendly policies deliver results in the long term in terms of market competitiveness (MC), in many industries firms have sought to jettison well-rooted practices in the face of the existential threats stemming from COVID-19. In this paper, we examine the new contemporary challenges of adopting and implementing environmental sustainability policies in the global airline industry in the wake of COVID-19. The analysis sheds light on firms’ level sustainability initiatives such as upgrading to environmentally friendly aircraft and offsetting emission footprint, and institutional initiatives such as the European Union Emissions Trading System and the Carbon Offsetting and Reduction Scheme for Aviation. Our analysis demonstrates that some airlines and industrial bodies sought to sidestep environmentally friendly commitments and practices to overcome new challenges such as cost pressures, survival threat and deprioritising environmental sustainability initiatives. We establish and examine the implications of the analysis. |
| Keywords: | Sustainability practices; COVID-19; airline industry; environmental sustainability policies; eco-friendly policies; business development. |
| JEL: | L1 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101491&r=all |
| By: | Thomas Kallabis (House of Energy Markets and Finance, University of Duisburg-Essen) |
| Abstract: | Energy system models are limited in their scope and level of disaggregation by the availability offast computing hardware. While improvements in hardware and solver developments have led toan increasing size of solvable models, problems with high temporal and geographical resolutionremain difficult to solve in one loop. In this paper, we evaluate the use of rolling planning as aspeed-up method for energy system models. In a stylized model, we highlight potential issuesthat occur at the boundary of optimization horizons, especially regarding time-linking constraintssuch as energy storage balances. In multiple configurations of the energy system model WILMAR-JMM, we investigate the tradeoff between solution quality and problem size / solution time thatcharacterize the use of rolling planning. |
| Keywords: | Energy system model, rolling-horizon optimization, linear programming |
| URL: | http://d.repec.org/n?u=RePEc:dui:wpaper:2006&r=all |
| By: | Yicong Lin; Hanno Reuvers |
| Abstract: | The Environment Kuznets Curve (EKC) predicts an inverted U-shaped relationship between economic growth and environmental pollution. Current analyses frequently employ models which restrict the nonlinearities in the data to be explained by the economic growth variable only. We propose a Generalized Cointegrating Polynomial Regression (GCPR) with flexible time trends to proxy time effects such as technological progress and/or environmental awareness. More specifically, a GCPR includes flexible powers of deterministic trends and integer powers of stochastic trends. We estimate the GCPR by nonlinear least squares and derive its asymptotic distribution. Endogeneity of the regressors can introduce nuisance parameters into this limiting distribution but a simulated approach nevertheless enables us to conduct valid inference. Moreover, a subsampling KPSS test can be used to check the stationarity of the errors. A comprehensive simulation study shows good performance of the simulated inference approach and the subsampling KPSS test. We illustrate the GCPR approach on a dataset of 18 industrialised countries containing GDP and CO2 emissions. We conclude that: (1) the evidence for an EKC is significantly reduced when a nonlinear time trend is included, and (2) a linear cointegrating relation between GDP and CO2 around a power law trend also provides an accurate description of the data. |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2009.02262&r=all |
| By: | Lutz Kilian |
| Abstract: | This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand elasticities and of incorporating this information into structural VAR models. I not only summarize the state of the literature, but also draw attention to a number of econometric problems that have been overlooked in this literature. Once these problems are recognized, seemingly conflicting conclusions in the recent literature can be resolved. My analysis reaffirms the conclusion that the one-month oil supply elasticity is close to zero, which implies that oil demand shocks are the dominant driver of the real price of oil. The focus of this paper is not only on correcting some misunderstandings in the recent literature, but on the substantive and methodological insights generated by this exchange, which are of broader interest to applied researchers. |
| Keywords: | oil supply elasticity; oil demand elasticity; IV estimation; structural VAR; Bayesian inference; oil price; gasoline price |
| JEL: | Q43 Q41 C36 C52 |
| Date: | 2020–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:fip:feddwp:88693&r=all |
| By: | Taheripour, Farzad; Baumes, Harry S.; Tyner, Wallace E. |
| Keywords: | Agricultural and Food Policy, Demand and Price Analysis, Resource/Energy Economics and Policy |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304252&r=all |
| By: | Kayo MURAKAMI; Hideki SHIMADA; Yoshiaki USHIFUSA; Takanori IDA |
| Abstract: | This study investigates the different impacts of monetary and nonmonetary incentives on energy-saving behaviors using a field experiment conducted in Japan. We find that the average reduction in electricity consumption from rebate is 4%, while that from nudge is not significantly different from zero. Applying a novel machine learning method for causal inference (causal forest) to estimate heterogeneous treatment effects at the household level, we demonstrate that the nudge intervention’s treatment effects generate greater heterogeneity among households. These findings suggest that selective targeting for treatment increases the policy efficiency of monetary and nonmonetary interventions. |
| Keywords: | Causal Forest, Rebate，Nudge, Randomized Controlled Trial, Energy, Machine Learning |
| JEL: | D9 C93 Q4 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:kue:epaper:e-20-003&r=all |
| By: | Ibrahima Bah (MRE - Montpellier Recherche en Economie - UM - Université de Montpellier); Jules Sadefo Kamdem (MRE - Montpellier Recherche en Economie - UM - Université de Montpellier); Abdou Salam Diallo (MRE - Montpellier Recherche en Economie - UM - Université de Montpellier) |
| Abstract: | The credit risk of oil-exporting countries could depend on the evolution of oil market. Indeed, the instability of oil prices can cause defaults on debt repayments, with a consequent deterioration in the credit quality of exporting countries. In this paper, through an econometric analysis between oil price and other variables of oil market and CDS premium volatilities, we highlight causalities between some variable of the oil market and the variation of the credit default of some oil-exporting countries. For illustration, we have randomly chosen to treat these oil-exporting countries: Saudi Arabia, Venezuela, Russia, Norway, Kazakhstan and Qatar. A particular focus of our analysis is to study the slump of oil market in mid-2014 on the six countries credit default spreads volatility. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02922834&r=all |
| By: | Olivier F\'eron; Peter Tankov; Laura Tinsi |
| Abstract: | We develop a tractable equilibrium model for price formation in intraday electricity markets in the presence of intermittent renewable generation. Using stochastic control theory we identify the optimal strategies of agents with market impact and exhibit the Nash equilibrium in closed form for a finite number of agents as well as in the asymptotic framework of mean field games. Our model reproduces the empirical features of intraday market prices, such as increasing price volatility at the approach of the delivery date and the correlation between price and renewable infeed forecasts, and relates these features with market characteristics like liquidity, number of agents, and imbalance penalty. |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2009.04786&r=all |
| By: | Buccella, Domenico; Fanti, Luciano; Gori, Luca |
| Abstract: | This research analyses the firms’ strategic choice of adopting an abatement technology in an environment with pollution externalities when the government levies an emission tax to incentivise firms undertaking emission-reducing actions. A set of different Nash equilibria – ranging from dirty to green production – arises in both quantity-setting (Cournot) and price-setting (Bertrand) duopolies depending on the societal awareness towards environmental quality and the relative importance of technological progress in abatement adopted by firms. A synthesis of the main results is the following: if the awareness of the society towards a clean environment is relatively low (resp. high) and the index measuring the relative cost of abatement is relatively high (resp. low), the strategic interaction between two independent, competing and selfish (profit maximising) firms playing the abatement game leads to not to abate [NA] (resp. to abate [A]) as the Pareto efficient outcome: no conflict exists between self-interest and mutual benefit to do not undertake (resp. to undertake) emission-reducing actions. Multiple Nash equilibria or a “green” prisoner’s dilemma may also emerge in pure strategies. When the choice of adopting a green technology is a deadlock (anti-prisoner’s dilemma), the society is better off as social welfare under A is always larger than under NA because pollution and environmental damage are higher in the latter scenario. These findings suggest that living in a sustainable environment challenges the development of clean technologies through ad hoc R&D and the improvement of public education to achieve an eco-responsible attitude. |
| Keywords: | “Green” production,Abatement,Emissions tax,Cournot and Bertrand duopolies |
| JEL: | H23 L1 M5 Q58 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:636&r=all |
| By: | Herve Bercegol; Henri Benisty |
| Abstract: | Global historical series spanning the last two centuries became recently available for primary energy consumption (PEC) and Gross Domestic Product (GDP). Here through a thorough analysis of the data, we propose a new, simple macroeconomic model whereby physical power fuels economic power. From 1820 to 1920, the linearity between global PEC and world GDP justifies basic equations where, originally, PEC incorporates unskilled human labor that consumes and converts food energy. In a consistent model, both physical capital and human capital are fed by PEC and store energy. In the following century, 1920-2016, GDP grows quicker than PEC, displaying periods of linearity of the two variables, separated by distinct jumps interpreted as radical technology shifts. The GDP to PEC ratio accumulates game-changing innovation, at an average growth rate proportional to PEC. These results seed alternative strategies for modelling and political management of the climate crisis and energy transition. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2008.10967&r=all |
| By: | Downar, Benedikt; Ernstberger, Jürgen; Reichelstein, Stefan; Schwenen, Sebastian; Zaklan, Aleksandar |
| Abstract: | We examine whether a disclosure mandate for greenhouse gas emissions creates stakeholder pressure for firms to subsequently reduce their emissions. For UK-incorporated listed firms such a mandate was adopted in 2013. Using a difference-in-differences design, we find that firms affected by the mandate reduced their emissions - depending on the specification - by an incremental 14-18% relative to a control group. This reduction was accompanied by an average 9% increase in production costs. At the same time, the treated firms were able to increase their sales by an almost compensating amount. Taken together, our findings provide no indication that the disclosure requirement led to a significant deterioration in the financial operating performance of the treated firms, despite the significant carbon footprint reduction following the disclosure mandate. |
| Keywords: | disclosureof non-financial information,mandatory disclosure,greenhouse gas emissions,real effects |
| JEL: | Q28 Q40 M41 M48 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:20038&r=all |
| By: | Grytten, Ola Honningdal (Dept. of Economics, Norwegian School of Economics and Business Administration) |
| Abstract: | The present paper discusses Norway’s way to prosperity during the two last centuries. The main reason for its wealth seems to have been the ability to meet international demand by utilizing its rich natural resources, adopting efficient technology, and draw on a skilled labor force in order to gain high productivity and profitability. Historical national accounts reveal that Norway’s wealth was close to the western European average in the early nineteenth century. From the 1840s to the mid 1870s, Norwegian growth rates were very high, due to significant growth in foreign trade. This period was followed by relative stagnation until the 1890s, from when the country saw rapid industrialization on the basis of hydroelectricity. After the two world wars Norway adopted a social democratic rule, with a high degree of economic planning, called the Nordic model. This has contributed to a large public sector and evenly distributed wealth and resources. The discovery of oil and gas on the Norwegian continental shelf marked a new era, when Norway experienced higher growth rates than most western economies. This has made it the country with the highest score in the United Nations Human Development Index (HDI) during the two first decades of the 21st century. |
| Keywords: | Economic history; economic growth; economic development; Norway |
| JEL: | N00 N13 N14 |
| Date: | 2020–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:nhheco:2020_017&r=all |
| By: | Lu, Pin; Malone, Trey; Lusk, Jayson L.; Wu, Kaidi |
| Keywords: | Institutional and Behavioral Economics, Research Methods/Statistical Methods, Marketing |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304330&r=all |
| By: | Soma, Chakrabarti |
| Abstract: | In 2030, young people will make up around 15 per cent of the world’s population, and rural youth about 6 per cent. Some regions are even expected to see a “youth bulge” or a significantly higher proportion of young people. However, the proportion of young people in rural areas is set to decrease compared with their counterparts in urban areas. This means that agriculture, already under threat from natural resource degradation, decreasing agrobiodiversity and climate change, is also at risk of missing out on the energy and innovation of young people. IFAD has long recognized the importance of engaging with and investing in youth. In the last ten years, IFAD has actively scaled up its investments in youth-related activities. It approved 50 projects with youth-related initiatives from 2008 to 2012. The projects predominantly targeted youth in West and Central Africa (WCA), Latin America and the Caribbean (LAC), and the Near East, North Africa and Europe (NEN). The majority of these projects targeted the human, social and/or financial capital of rural youth. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2018–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:ags:unadas:304755&r=all |
| By: | Zhao, Chong; Colson, Gregory J.; Karali, Berna; Philippidis, George |
| Keywords: | Agribusiness, Agricultural Finance, Productivity Analysis |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304426&r=all |
| By: | Zhao, Xin; Taheripour, Farzad; Malina, Robert; Tyner, Wallace E. |
| Keywords: | Resource/Energy Economics and Policy, Production Economics |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304186&r=all |
| By: | Boucekkine, R.; Fabbri, G.; Federico, S.; Gozzi, F. |
| Abstract: | We study the joint determination of optimal investment and optimal depollution in a spatiotemporal framework where pollution is transboundary. Pollution is controlled at a global level. The regulator internalizes that: (i) production generates pollution, which is bad for the wellbeing of population, and that (ii) pollution flows across space driven by a diffusion process. We solve analytically for the optimal investment and depollution spatiotemporal paths and characterize the optimal long-term spatial distribution when relevant. We finally explore numerically the variety of optimal spatial distributions obtained using a core/periphery model where the core differs from the periphery either in terms of input productivity, depollution efficiency, environmental awareness or self-cleaning capacity of nature. We also compare the distributions with and without diffusion. Key aspects in the optimal policy of the regulator are the role of aversion to inequality, notably leading to smoothing consumption across locations, and the control of diffusive pollution adding another smoothing engine. |
| Keywords: | DECISION ANALISIS;POLLUTION CONTROL;GEOGRAPHY;TRANSBOUNDARY POLLUTION;INFINITE DIMENSIONAL OPTIMAL CONTROL PROBLEMS |
| JEL: | Q53 R12 E60 C61 Q52 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:gbl:wpaper:2020-08&r=all |
| By: | Bardt, Hubertus; Kolev, Galina V. |
| Abstract: | Die amerikanischen Wahlen im November 2020 werden nicht nur für die USA selbst, sondern auch für Europa und Deutschland von hoher Bedeutung sein. Während die transatlantische Kooperation unter der aktuellen Administration gelitten hat, besteht mit einem Regierungswechsel die Chance auf einen Neuanfang. In der Wirtschaftspolitik unterscheiden sich die beiden Kandidaten teils fundamental. Besonders in der Klima- und der Handelspolitik sind konkrete Auswirkungen auf die globale Politik zu erwarten, die für Europa von hoher Bedeutung sind. In der Klimapolitik wäre von einem Präsident Biden die Rückkehr zum Pariser Klimaabkommen zu erwarten. Auch die inländische Klimapolitik würde sich verschärfen. Eine Bepreisung von Emissionen, die analog zum Emissionshandel in Europa eine Annäherung der Wettbewerbsbedingungen bewirken könnte, ist aber nicht wahrscheinlich und taucht im Wahlprogramm der Demokraten nicht auf. Auch in der Handelspolitik würde ein Regierungswechsel Veränderungen mit sich bringen, obwohl das Programm der Demokraten stark protektionistisch geprägt ist. Dies würde vor allem im Konflikt mit China deutlich bleiben. Doch dürfte der Ansatz gegenüber der EU stärker kooperativer ausgerichtet sein. Chancen bestehen zudem in der Sicherung der multilateralen Handelsordnung, da eine größere Bereitschaft zur Zusammenarbeit und zur Regelbindung vorhanden ist als bei der gegenwärtigen Regierung. |
| JEL: | E6 F13 D72 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkpps:162020&r=all |
| By: | Adrien Fabre (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Bénédicte Apouey (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Thomas Douenne (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Louis-Gaëtan Giraudet (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - AgroParisTech - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement); Jean-François Laslier (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Antonin Macé (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Les citoyens membres de la Convention Citoyenne pour le Climat (CCC) sont-ils représentatifs des Français ? Ces derniers approuvent-ils les politiques climatiques proposées par la Convention ? Cette note aborde ces questions en comparant les points de vue des citoyens de la Convention avec ceux d'échantillons représentatifs de la population générale interrogés avant que les mesures proposées par la CCC soient diffusées publiquement. |
| Keywords: | Convention Citoyenne pour le Climat,CCC |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:ciredw:halshs-02919695&r=all |
| By: | Buisson, Marie-Charlotte; Balasubramanya, Soumya; Stifel, David C. |
| Keywords: | Agricultural and Food Policy, Resource/Energy Economics and Policy, International Development |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304212&r=all |
| By: | Jeddi, Behzad; DePaula, Guilherme M.; Fortes, Ary |
| Keywords: | Resource/Energy Economics and Policy, Agricultural and Food Policy |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea20:304489&r=all |