|
on Energy Economics |
| By: | Alexander Kell |
| Abstract: | A transition to a low-carbon electricity supply is crucial to limit the impacts of climate change. Reducing carbon emissions could help prevent the world from reaching a tipping point, where runaway emissions are likely. Runaway emissions could lead to extremes in weather conditions around the world -- especially in problematic regions unable to cope with these conditions. However, the movement to a low-carbon energy supply can not happen instantaneously due to the existing fossil-fuel infrastructure and the requirement to maintain a reliable energy supply. Therefore, a low-carbon transition is required, however, the decisions various stakeholders should make over the coming decades to reduce these carbon emissions are not obvious. This is due to many long-term uncertainties, such as electricity, fuel and generation costs, human behaviour and the size of electricity demand. A well choreographed low-carbon transition is, therefore, required between all of the heterogenous actors in the system, as opposed to changing the behaviour of a single, centralised actor. The objective of this thesis is to create a novel, open-source agent-based model to better understand the manner in which the whole electricity market reacts to different factors using state-of-the-art machine learning and artificial intelligence methods. In contrast to other works, this thesis looks at both the long-term and short-term impact that different behaviours have on the electricity market by using these state-of-the-art methods. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2111.00987&r= |
| By: | Mónica Santillán Vera (Facultad de Economía y Negocios, Universidad Anáhuac México); Lilia García Manrique (Department of Economics, University of Sussex, Falmer, United Kingdom); Isabel Rodríguez Peña (Facultad de Economía y Negocios, Universidad Anáhuac México); Angel de la Vega Navarro (Facultad de Economía, UNAM) |
| Abstract: | In the last three decades, the high growth of natural gas as an energy source of Mexican electricity production was the most significant change in the sector. Natural gas went from being the source for 7% of electricity in 1990 to 62.3% in 2020. A co-dependence of electricity and natural gas systems has been established. Is this fact consistent with the objective of decarbonizing the electricity sector? We study this question through a decomposition analysis of electricity GHG emissions in Mexico between 1990 and 2015. We use a Logarithmic Mean Divisia Index (LMDI) to quantify the changes of electricity GHG emissions related to activity, carbon coefficient, structure, and energy intensity effects. Activity effect was the most significant driver of GHG emissions growth, while structure and energy intensity effects contributed to limiting that growth. Although natural gas is the cleanest fossil fuel and its share in the electricity mix increased significantly, the effect of the carbon coefficient effect has shown a limited contribution to mitigating GHG emissions. From these results, we raise concerns about the role of natural gas, which could lead to carbon lock-in and stranded assets in the long term. To avoid this, an energy policy aiming towards a low-carbon energy system should consider the composition “natural gas + renewable energies + energy efficiency†. |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:sus:susewp:1021&r= |
| By: | Edward Manderson; Timothy Considine |
| Abstract: | We examine the impact of daily temperatures on monthly energy demand for all major fuels (electricity, natural gas and petroleum products) across the United States economy. We find there are substantial heterogeneities in the estimated relationships by fuel type and by sector. We also provide evidence to suggest that adaptation to local climate has modified the electricity consumption effects of temperature in the residential and commercial sectors. Using our estimates to predict the effects that climate change has already had during 2010-2019, we find positive net impacts on energy consumption and expenditure for each sector, and annual carbon dioxide emissions have increased by at least 16 million metric tons. The predictions also suggest that adaptation has increased the net impacts of climate change on electricity use for cold states, but decreased the net impacts for hot states. |
| JEL: | Q41 Q54 |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:man:sespap:2112&r= |
| By: | Jennifer L. Castle; David F. Hendry |
| Abstract: | Net-zero greenhouse gas (GHG) emissions are an excellent target, but difficult to achieve by having to bridge a dramatic energy transition from fossil fuels to renewables, as well as eliminate other sources of GHG emissions from agriculture, construction and waste. A comprehensive strategy for doing so is essential, and although components like renewable electricity generation and electric vehicles are well developed, many issues remain, especially timing the stages in tandem. The key sensitive intervention points (SIPs) are (a) installing sufficient non-GHG electricity, (b) having elec tric vehicles connected to the grid for large-scale short-run backup storage, (c) utilising intermittent ‘surplus’ energy for nearly free hydrogen production, (d) some liquified for medium-term storage and a high-heat for industry, and (e) other electricity-based uses such as in agriculture. Public support for a purely green economy will wane if the economic costs are too high, so it is essential to maintain employment and real per-capita incomes. Decarbonizing the economy while also dealing with the economic costs of the COVID-19 pandemic can occur by using an integrated stepped approach. |
| Keywords: | Greenhouse-Gas Emissions, Net-Zero Target, Decarbonizing, Economic Growth, Carbon Nanotubes, Renewable Electricity Generation |
| Date: | 2021–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:953&r= |
| By: | Susana Campos-Martins; David F. Hendry |
| Abstract: | The systemic implications on carbon-intensive equity prices of the disruptive technological progress from decarbonising the global energy system are com pounded by the geopolitical nature of both the global oil market and transition risk. We show empirically that climate change news affects oil and gas stock return volatilities at the global scale. But not all geoclimatic shocks are alike. Climate change news increases global uncertainty around carbon-intensive equities and it amplifies the effects of oil volatility shocks when the news is bad. Moreover, the impact of climate change news on the global oil and gas carbon intensive equity market differs across topics and themes. |
| Keywords: | Volatility factor models, Financial volatility shocks, Geoclimatic volatility shocks, Transition risk, Carbon-intensive equities. |
| Date: | 2021–09–28 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:948&r= |
| By: | Witcover, Julie |
| Abstract: | This paper examines past and future trends for non-conventional biofuels in transportation in the next decade and beyond in California and the U.S., drawing on existing literature. It finds policy was geared toward expanding use of technology-ready biofuels in the 2010s; hydroprocessed renewable diesel from lipid feedstocks and biogas were beneficiaries alongside conventional ethanol and biodiesel. Cellulosic ventures largely failed due to lack of technological readiness, high cost, and an uncertain and insufficient policy environment. Policy goals for competitive cellulosic fuels remain, yet fuels from technologies already in the market may suffice to meet low carbon fuel policy targets, at least in California until 2030, considerably more oilcrop-based biofuels. How much biofuel will be needed there and elsewhere to meet climate targets hinges critically on the pace and scope of zero emission vehicle, and particularly electric vehicle, rollout. Analysis of unintended market consequences like indirect land use change has evolved over the decade but remains uncertain; current policy structures do not comprehensively safeguard against increased emissions. Market activity for non-conventional fuels has targeted biojet. Pioneer plants using new conversion technologies, if successful, will take some time to scale. Technoeconomic analyses (TEAs) for such non-conventional fuels point to no clear biofuel conversion technology winner as yet, given uncertainties. TEAs are evolving to reduce uncertainty by concentrating more on robust returns in the face of uncertain policies, potential additional cost-cutting for new technologies given what is known about processes involved, and potential revenue-raising through new coproducts or shifting product slates. Policies are needed to make initial financing more secure. Additional policy and societal attention to appropriate use of biomass, and land more generally, in a low carbon future is needed to clarify likely feedstock supply for biofuels that will enhance climate goals with low risk of unintended consequences. View the NCST Project Webpage |
| Keywords: | Business, Engineering, Biofuels, low carbon fuels, renewable energy sources, alternative fuel policy |
| Date: | 2021–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt7624q040&r= |
| By: | Davide Furceri; Michael Ganslmeier; Mr. Jonathan David Ostry |
| Abstract: | Are policies designed to avert climate change (Climate Change Policies, or CCPs) politically costly? Using data on governmental popular support and the OECD’s Environmental Stringency Index, we find that CCPs are not necessarily politically costly: policy design matters. First, only market-based CCPs (such as emission taxes) generate negative effects on popular support. Second, the effects are muted in countries where non-green (dirty) energy is a relatively small input into production. Third, political costs are not significant when CCPs are implemented during periods of low oil prices, generous social insurance and low inequality. |
| Keywords: | EPS change; policy design; Policy implication; popular support; baseline model; Climate change; Climate policy; Fuel prices; Environmental policy; Natural disasters; Global |
| Date: | 2021–06–04 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2021/156&r= |
| By: | Florian Misch; Youssouf Camara; Bjart Holtsmark |
| Abstract: | This paper empirically estimates the effects of electric vehicles (EVs) on passenger car emissions to inform the design of policies that encourage EV purchases in Norway. We use exceptionally rich data on the universe of cars and households from Norway, which has a very high share of EVs, thanks to generous tax incentives and other policies. Our estimates suggest that household-level emission savings from the purchase of additional EVs are limited, resulting in high implicit abatement costs of Norway’s tax incentives relative to emission savings. However, the estimated emission savings are much larger if EVs replace the dirtiest cars. Norway’s experience may also help inform similar policies in other countries as they ramp up their own national climate mitigation strategies. |
| Keywords: | emission savings; passenger car emission; savings from the purchase; car usage preference; purchased EVs; Tax incentives; Income; VAT exemptions; Greenhouse gas emissions |
| Date: | 2021–06–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2021/162&r= |
| By: | Felipe Gonzalez (GeePs - Laboratoire Génie électrique et électronique de Paris - CentraleSupélec - SU - Sorbonne Université - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Marc Petit (GeePs - Laboratoire Génie électrique et électronique de Paris - CentraleSupélec - SU - Sorbonne Université - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Yannick Perez (LGI - Laboratoire Génie Industriel - CentraleSupélec - Université Paris-Saclay) |
| Abstract: | Electric vehicle (EV) grid integration presents significant challenges and opportunities for electricity system operation and planning. Proper assessment of the costs and benefits involved in EV integration hinges on correctly modeling and evaluating EV-user driving and charging patterns. Recent studies have evidenced that EV users do not plug in their vehicle every day (here called non-systematic plug-in behavior), which can alter the impacts of EV charging and the flexibility that EV fleets can provide to the system. This work set out to evaluate the effect of considering non-systematic plug-in behavior in EV grid integration studies. To do so, an open-access agent-based EV simulation model that includes a probabilistic plug-in decision module was developed and calibrated to match the charging behavior observed in the Electric Nation project, a large-scale smart charging trial. Analysis shows that users tend to plug-in their EV between 2 and 3 times per week, with a lower plug-in frequency for large-battery EVs and large heterogeneity in user charging preferences. Results computed using our model show that non-systematic plug-in behavior effects reduce the impact of EV charging, especially for price-responsive charging, as fewer EVs charge simultaneously. On the other hand, non-systematic plug-in can reduce available flexibility, particularly when considering current trends towards larger battery sizes. Counter-intuitively, large-battery fleets can have reduced flexibility compared to small-battery fleets, both in power and stored energy, due to lower plug-in frequency and higher energy requirements per charging session. Improving plug-in ratios of EV users appears as key enabler for flexibility. In comparison, augmenting charging power can increase the flexibility provided by EV fleets but at the expense of larger impacts on distribution grids. |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03363782&r= |
| By: | Casamassima, Alessia; Perdiguero Garcia, Jordi; Morone, Andrea |
| Abstract: | The use of renewable energy sources is the main tool to solve several issues like energy request, the excessive use of no-renewable energy sources and, in general, the global environmental pollution. In the light of this, it is important to raise awareness among individuals towards this type of energies to facilitate the circular economy transition. The investigation of misperception is crucial in the modern context of bio-economy because it could lead to an over-exploitation and depletion of several natural resources. Policymakers work for a cleaner energy system, and they need to investigate on social acceptability; “Next Generation” represents those who must contribute to this dutiful energy transition because they are the future actors of society. The aim of this work is to investigate the energy misperception on different sources among the “Next Generation” group. The analysis is carried out in Italy and the data were obtained through an internet-based survey, administered via Instagram for capturing Next Generation’s perception about the national energy mix. We found the younger have more misperception and one of the possible explanations could be that are more negatively affected by media and social media, or public opinion in general. Another motivation could be that the younger generation considers sustainability important and therefore tend to over-perceive renewable energy sources. |
| Keywords: | Energy; misperception; renewable; Online Experiment |
| JEL: | Q4 Q5 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110637&r= |
| By: | Subedi, Mukti Nath; Bharadwaj, Bishal; Rafiq, Shuddhasattwa |
| Keywords: | Decentralized energy system,education,labour market,caste,gender |
| JEL: | I25 J15 Q42 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:246816&r= |
| By: | Aljabri, Salwa; Raghavan, Mala; Vespignani, Joaquin |
| Abstract: | This paper studies the impact of oil price shocks on fiscal policy and real GDP in Oman using new unexplored data. We find that an oil price shock explains around 22% and 46% of the variation in the government revenue and GDP, respectively. Decomposing the government revenue and GDP further into petroleum and non-petroleum related components, we find that an oil price shock explains around 26% of the variation in petroleum revenue and 90% of the petroleum-GDP. Though petroleum and non-petroleum GDP respond positively to oil price shocks, government expenditure is not affected by oil prices but is affected by government revenue. The results suggest that the Omani government uses its reserve fund and local and international debt to smooth and reduce the impact of oil price fluctuations. |
| Keywords: | oil price shocks, fiscal policy, GDP, SVAR |
| JEL: | E00 E6 F4 |
| Date: | 2021–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110628&r= |
| By: | Aude Pommeret (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc); Francesco Ricci (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Katheline Schubert (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Renewable energy generation and storage requires specialized capital goods, embedding critical raw materials (CRM). The scarcity of CRM therefore affects the transition from a fossil based energy system to one based on renewables, necessary to cope with climate change. We consider the issue in a theoretical model, where we allow for a very costly potential substitute, reflecting a backstop technology, and for partial and costly recycling of materials in capital goods. We characterize the main features of the efficient energy transition, and their dependence on the relative abundance of CRM and on the recycling technology. Recycling reduces the cost of the transition. It also calls for having a large stock of recyclable CRM embedded in specialized capital at the time of adoption of the backstop technology. Moreover, we consider constraints on policy tools and myopic regulation, and show how abstracting from the scarcity of CRM, or tightly linking subsidies for renewables to the carbon tax revenue, is misleading in designing climate policy. |
| Keywords: | material scarcity,recycling,energy transition,policy acceptability,myopia |
| Date: | 2021–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpceem:hal-03429055&r= |
| By: | Yener Altunbas; Leonardo Gambacorta; Alessio Reghezza; Giulio Velliscig |
| Abstract: | Does having more women in managerial positions improve firm environmental performance? We match firm-corporate governance characteristics with firm-level carbon dioxide (CO2) emissions over the period 2009-2019 to study the relationship between gender diversity in the workplace and firm carbon emissions. We find that a 1 percentage point increase in the percentage of female managers within the firm leads to a 0.5% decrease in CO2 emissions. We document that this effect is statically significant, also when controlling for institutional differences caused by more patriarchal and hierarchical cultures and religions. At the same time, we show that gender diversity at the managerial level has stronger mitigating effects on climate change if females are also well-represented outside the organization, e.g. in political institutions and civil society organizations. Finally, we find that, after the Paris Agreement, firms with greater gender diversity reduced their CO2 emissions by about 5% more than firms with more male managers. Overall, our results indicate that gender diversity within organizations can have a significant impact in combating climate change. |
| JEL: | G12 G23 G30 D62 Q54 |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:bis:biswps:977&r= |
| By: | He Pan (The West Center for Economics Research, Southwestern University of Finance and Economics, Chengdu, China); Stefania Lovo (Department of Economics, University of Reading); Marcella Veronesi (Department of Technology, Management and Economics, Technical University of Denmark, and Department of Economics, University of Verona, Italy) |
| Abstract: | We provide novel empirical evidence on the association between social networks and the adoption of renewable energy technology. We distinguish between two main transmission mechanisms through which social networks can affect renewable energy technology adoption: information diffusion and social influence. Using data primarily collected from rural China on biogas adoption, we find that both mechanisms are at work. In addition, we find that information spreads through trusted network members, such as friends and family, while social influence is mainly exercised by government officials. Government officials are more likely to promote the adoption of technology by leading by example rather than by spreading information. |
| Keywords: | Social networks, social influence, information diffusion, renewable energy, biogas, China |
| JEL: | O13 O33 Q16 Q42 Q55 Q56 |
| Date: | 2021–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:rdg:emxxdp:em-dp2021-19&r= |
| By: | Njangang, Henri; Asongu, Simplice; Tadadjeu, Sosson; Nounamo, Yann; Kamguia, Brice |
| Abstract: | The study assesses the role of governance in modulating the effect of oil wealth on wealth inequality in 45 countries in the world. The empirical evidence is based on Pooled Ordinary Least Squares and the Generalised Method of Moments. The findings show that oil rents unconditionally increase wealth inequality while govenance dyanmics (in terms of rule of law, corruption-control, government effectiveness, regulatory quality) moderate oil rents for an overall net negative effect on wealth inequality. Good governance thresholds at which the unconditional effect of oil rents on the wealth inequality changes from positive to negative are computed and discussed. It follows that while governance is a necessary condition for improving the redistributive effects of oil wealth, it becomes a sufficient condition for net positive improvements in wealth distribution only when some critical levels of good governance have been reached. Other policy implications are discussed. |
| Keywords: | Governance; Oil wealth; Wealth inequality, Panel data |
| JEL: | F21 F54 L71 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110641&r= |
| By: | Bellani, Luna (University of Konstanz); Ceolotto, Stefano (Trinity College Dublin); Elsner, Benjamin (University College Dublin); Pestel, Nico (ROA, Maastricht University) |
| Abstract: | Does poor air quality affect decision-making? We study this question based on elections, in which millions of people decide on the same issue on the same day in different locations. We use county-level data from 64 federal and state elections in Germany over a nineteen-year period and exploit plausibly exogenous variation in ambient air pollution within counties across election dates. Our results show that a high concentration of particulate matter (PM10) on an election day significantly affects voting behavior. An increase in the concentration of PM10 by 10μg/m3 – around two within-county standard deviations – reduces the vote share of the incumbent by 2 percentage points and increases the vote share of the established opposition by 2.8 percentage points. These are strong effects, equivalent to 4% and 7% of the respective mean vote shares. We generalize these findings by documenting similar effects with data from a weekly opinion poll and a large-scale panel survey. We provide further evidence that emotions are a likely mechanism: the survey data show that poor air quality leads to greater anxiety and unhappiness, which may reduce the support for the political status quo. |
| Keywords: | pollution, decisions, voting |
| JEL: | D70 D72 D91 Q53 |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14718&r= |
| By: | Dimnwobi, Stephen; Ekesiobi, Chukwunonso; Madichie, Chekwube; Asongu, Simplice |
| Abstract: | The nexus of population dynamics and environmental degradation has been discussed widely in the extant literature. Most related studies have utilized carbon emission as a proxy of environmental quality. However, carbon emission does not capture the multidimensional nature of environmental degradation. To fill this gap, this study utilized the ecological footprint to capture environmental degradation because it is a more dynamic environmental quality measure. The paper examines the population-environmental degradation hypothesis for five populous African countries (DR Congo, Ethiopia, Nigeria, South Africa and Tanzania) using panel information from 1990-2019. The Cross-sectionally Augmented autoregressive distributed lag (CS-ARDL) was employed to assess the relationship among the data – ecological footprint per capita (ECFP), population growth rate (POPG), population density (POPD), urban population growth rate (URBN), age structure of the population (AGES), per capita GDP growth rate (PGDP), energy consumption (ENEC), and trade openness (TRAD). The findings of the study revealed that POPG, POPD, AGES, PGDP, ENEC and TRAD increase environmental degradation. Urbanization (URBN) has no significant influence on environmental degradation in the selected African countries. The study concludes with policy prescriptions geared towards addressing population expansion and improving environmental quality. |
| Keywords: | Population dynamics, Environmental degradation, Africa |
| JEL: | C40 J11 O10 Q50 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110640&r= |
| By: | Shobande, Olatunji; Asongu, Simplice |
| Abstract: | Africa is currently experiencing both financial and human development challenges. While several continents have advocated for financial development in order to acquire environmentally friendly machinery that produces less emissions and ensures long-term sustainability, Africa is still lagging behind the rest of the world. Similarly, Africa's human development has remained stagnant, posing a serious threat to climate change if not addressed. Building on the underpinnings of the Environmental Kuznets Curve (EKC) hypothesis on the nexus between economic growth and environmental pollution, this study contributes to empirical research seeking to promote environmental sustainability as follows. First, it investigates the link between financial development, human capital development and climate change in East and Southern Africa. Second, six advanced panel techniquesare used, and they include: (1) cross-sectional dependency (CD) tests; (2) combined panel unit root tests; (3) combined panel cointegration tests; (4) panel VAR/VEC Granger causality tests and (5) combined variance decomposition analysis based on Cholesky and Generalised weights. Our finding shows that financial and human capital developments are important in reducing CO2 emissions and promoting environmental sustainability in East and Southern Africa. |
| Keywords: | Financial Development; Human Capital; East and Southern Africa; Climate Change |
| JEL: | G21 I21 I25 O55 Q54 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110639&r= |
| By: | Corredera, Alberto; Ruiz Mora, Carlos |
| Abstract: | We present a data-driven framework for optimal scenario selection in stochastic optimization with applications in power markets. The proposed methodology relies in the existence of auxiliary information and the use of machine learning techniques to narrow the set of possible realizations (scenarios) of the variables of interest. In particular, we implement a novel validation algorithm that allows optimizing each machine learning hyperparameter to further improve the prescriptive power of the resulting set of scenarios. Supervised machine learning techniques are examined, including kNN and decision trees, and the validation process is adapted to work with time-dependent datasets. Moreover, we extend the proposed methodology to work with unsupervised techniques with promising results. We test the proposed methodology in a realistic power market application: optimal trading strategy in forward and spot markets for an electricity retailer under uncertain spot prices. Results indicate that the retailer can greatly benefit from the proposed data-driven methodology and improve its market performance. Moreover, we perform an extensive set of numerical simulations to analyze under which conditions the best machine learning hyperparameters, in terms of prescriptive performance, differ from those that provide the best predictive accuracy. |
| Keywords: | Or in energy; Data-Driven; Electricity Retailer; Hyperparameter Selection; Machine Learning |
| Date: | 2021–11–25 |
| URL: | http://d.repec.org/n?u=RePEc:cte:wsrepe:33693&r= |
| By: | Govindan, Mini; Ram Mohan, M.P. |
| Abstract: | There are numerous studies that have examined the role of gender on differential perceptions on various aspects of energy, including those related to nuclear plants. Yet, few studies have explored the role of changing perceptions and the interaction of conditional factors in shaping the gendered effects, especially from a developing country. This enquiry is critical for the administrative state to understand targeted policy prescriptions. This paper examines the differences in perceptions and related reactions of both men and women living in the vicinity of Kakrapar Atomic Power Station in the Indian state of Gujarat. Although women’s disproportionate sensitivity to and lower tolerance of risks is embedded in the broad cultural milieu, the presence of the nuclear plant in their vicinity was not perceived as a larger risk than the possible flooding from the nearby dam or losing livelihood opportunities due to dwindling returns from agriculture. This study challenges the gendered binary thinking in nuclear energy domain in terms of engagement and administration of nuclear energy projects. |
| Date: | 2021–11–23 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:14669&r= |
| By: | Ary José A. Souza-Jr. |
| Abstract: | Do subjects’ reactions to climate change help us understand how behavior affects their well-being level? To answer, this article assesses the impact of a large set of Environmental Perceptions and Attitudes (EPA) on subjective well-being across 21 European countries, using an ordered probit model. Furthermore, it tests whether personality traits are capable to influence the relationship between EPA and well-being. The estimation uses data from the European Social Survey, along with air pollution (PM10), precipitation, waste production, and macro variables. This paper builds on Ferrer-i-Carbonell and Gowdy (2007), considering two additional groups of EPA: energy affairs and new expressions of environmental awareness. The results show that both groups have a statistically significant effect on well-being, indicating that a higher variety of EPA may influence welfare. The outcomes also indicate that personality traits partially influence the link between well-being and EPA across Europe. |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:ise:remwps:wp02072021&r= |
| By: | Pinedo, Wilman Iglesias |
| Keywords: | Environmental Economics and Policy, Productivity Analysis |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae21:315927&r= |
| By: | Maksym Ivanyna; Nicholas Stern; William Oman; Amar Bhattacharya |
| Abstract: | Climate change is a major threat to the sustainability and inclusiveness of our societies, and to the planet’s habitability. A just transition to a low-carbon economy is the only viable way forward. This paper reviews the climate change challenge. It stresses the criticality of systems changes (energy, transport, urban, land use, water) in a climate-challenged world, and the importance of infrastructure investment geared toward such systems changes. The key policies to enable the transition are: public spending on and investment frameworks for sustainable infrastructure, pricing carbon, regulations, promoting sustainable use of natural resources, scaling up and aligning finance with climate objectives, low-carbon industrial and innovation policies, building resilience and adaptation, better measurement of well-being and sustainability, and providing information and education on climate risks. Implemented well, climate action would unlock the inclusive growth story of the 21st century, making our societies more sustainable, inclusive, and prosperous. |
| Keywords: | climate change challenge; climate change mitigation; low-carbon economy; climate action; challenge of climate change; Climate change; Natural disasters; Greenhouse gas emissions; Global; South Asia |
| Date: | 2021–05–26 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2021/147&r= |
| By: | Roger Cremades; Hermine Mitter; Nicu Constantin Tudose; Anabel Sanchez-Plaza; Anil Graves; Annelies Broekman; Steffen Bender; Carlo Giupponi; Phoebe Koundouri; Muhamad Bahri; Sorin Cheval; Jorg Cortekar; Yamir Moreno; Oscar Melo; Katrin Karner; Cezar Ungurean; Serban Octavian Davidescu; Bernadette Kropf; Floor Brouwer; Mirabela Marin |
| Abstract: | The water-energy-land nexus requires long-sighted approaches that help avoid maladaptive pathways to ensure its promise to deliver insights and tools that improve policy-making. Climate services can form the foundation to avoid myopia in nexus studies by providing information about how climate change will alter the balance of nexus resources and the nature of their interactions. Nexus studies can help climate services by providing information about the implications of climate-informed decisions for other economic sectors across nexus resources. First-of-its-kind guidance is provided to combine nexus studies and climate services. The guidance consists of ten principles and a visual guide, which are discussed together with questions to compare diverse case studies and with examples to support the application of the principles. |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:1915&r= |
| By: | Mr. Adil Mohommad |
| Abstract: | The employment impact of environmental policies is an important question for policy makers. We examine the effect of increasing the stringency of environmental policy across a broad set of policies on firms’ labor demand, in a novel identification approach using Worldscope data from 31 countries on firm-level CO2 emissions. Drawing on evidence from as many as 5300 firms over 15 years and the OECD environmental policy stringency (EPS) index, it finds that high emission-intensity firms reduce labor demand upon impact as EPS is tightened, whereas low emission-intensity firms increase labor demand, indicating a reallocation of employment. Moreover, tightening EPS during economic contractions appears to have a positive effect on employment, other things equal. Quantifications exercises show modest positive net changes in employment for market-based policies, and modest negative net changes for non-market policies (mainly emission quantity regulations) and for the combined aggregate EPS. Within market-based policies, the percent decline in employment in high-emission firms (correspondingly the increase in low-emission firms) for a unit change in a policy index is smallest (largest) for trading schemes (“green” certificates, and “white” certificates)—although stringency is not comparable across indices. Finally, the employment effects of EPS are not persistent. |
| Keywords: | IMF working paper research Department; employment effect; emission-intensity firm; policy index; intensity firm; Employment; Environmental policy; Greenhouse gas emissions; Labor demand; Non-renewable resources; Global |
| Date: | 2021–05–14 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2021/140&r= |
| By: | Matteo Mazzarano (Fondazione Eni Enrico Mattei, Università Cattolica del Sacro Cuore); Gianni Guastella (Fondazione Eni Enrico Mattei, Università Cattolica del Sacro Cuore); Stefano Pareglio (Fondazione Eni Enrico Mattei, Università Cattolica del Sacro Cuore); Anastasios Xepapadeas (thens University of Economics and Business, University of Bologna) |
| Abstract: | The Security and Exchange Commission (SEC) has considered climate change as a risk issue since 2010. Several emission disclosure initiatives exist aimed at informing investors about the financial risks associated with a zero or low carbon transition. Stricter regulations, particularly in a few sectors, could affect operations costs, ultimately impacting companies financial performances, especially of listed companies. There are two ways these companies can disclose their transition risk exposure and are not alternatives. One is the explicit declaration of exposure to transition risk in the legally binding documents that listed companies must provide authorities. The other is the disclosure of GHG equivalent emissions, which is implicitly associated with transition risk exposure. This paper empirically analyses to what extent US companies stock returns incorporate information about transition risk by using explicit and implicit risk measures and comparing them. In addition, multiple total stock return measures distinguishing dividend payouts from simple stock returns. Results suggest that both explicit and implicit risks are positively related to dividend payouts and not to stock returns, while the overall effect on total stock returns is negative. Evidence supports the view that market operators price negatively the transition risk exposure and, probably as a consequence, boards in carbon intensive companies use dividend policies to attract investment in risky companies. |
| Keywords: | Climate risk, Transition Risk, SEC-10K, Mandatory Disclosure, Text analysis, CAPM |
| JEL: | G35 G32 G38 Q54 |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2021.29&r= |
| By: | Nielsen, Hana (Department of Economic History, Lund University) |
| Abstract: | This article studies the fast fossil fuel transition in the context of steam adoption in the Czech lands. I show how geographical proximity to coal brought forward the early industrialization of the Czech lands. The region’s fast transition to modern fuels fundamentally transformed the industrial landscape and laid foundations for the development of new industries. Coal, steam and sugar became the central elements, moving the Czech lands closer to the European core. Overall, this article challenges the traditional view of the economic backwardness and shows on what grounds the Czech lands became the economic powerhouse of the Habsburg Empire. |
| Keywords: | industrialization; distance to coal; steam engines; Poisson regression; spatial regression |
| JEL: | C21 N73 O14 R12 |
| Date: | 2021–10–13 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:luekhi:0229&r= |
| By: | Mikael Skou Andersen (Aarhus University); Gérard Bonnis (OECD) |
| Abstract: | Nitrogen management policies introduced in the past decades by some OECD countries have succeeded in reducing excess nitrogen use by farmers, but half of global mineral fertiliser use is still lost for crops. While about half of OECD countries have nutrient surpluses of between 25-50 kg N per hectare, a smaller number of countries are still having surpluses of more than 100 kg N per hectare. Since the production and use of mineral fertilisers have a large greenhouse gas footprint and to achieve the deep reductions in emissions as the Paris Agreement aims for, nitrogen management policies could be reinforced and pursued more systematically. The paper identifies significant reduction potential by eliminating the excess use of nitrogen fertilisers and improving efficiency in the use of manure-nitrogen, which could be obtained with a redesign of nitrogen management policies and schemes for public financial support. To underpin such measures a tax on the nitrogen surplus at farm level could play a vital role. Based on the available estimates of environmental externalities of nitrogen, the paper identifies an average rate of EUR 1-2 as a suitable starting point for a tax or penalty on the surplus application of nitrogen. The paper also explores the opportunities for sustainable nutrient management in agriculture with climate mitigation benefits relating to nitrous oxides in particular. |
| Keywords: | agricultural fertilisers, climate change mitigation, environmental taxation, manure, nitrogen pollution |
| JEL: | D62 H23 H87 O13 P52 Q15 Q24 Q51 Q55 Q58 |
| Date: | 2021–12–02 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:186-en&r= |
| By: | Phoebe Koundouri; Laura Airoldi; Arjen Boon; Amerissa Giannouli; Eleftherios Levantis; Aris Moussoulides; Marian Stuiver; Stella Tsani (Athens University of Economics and Business) |
| Abstract: | This chapter provides an introduction to the MERMAID project. MERMAID focused on developing concepts for offshore platforms which can be used for multiple purposes, such as energy and aquaculture production. These concepts were developed with input from experts as well as societal stakeholders. MERMAID consortium comprised of 28 partner institutes, including Universities, Research institutes, Industries and Small and Medium Enterprises from several EU countries. Consortium members brought a range of expertise in hydraulics, wind engineering, aquaculture, renewable energy, marine environment, project management, as well as socioeconomics and governance. Within the scope of MERMAID it has been developed and applied an Integrated Socio-Economic Assessment of the sustainability of Multi-Use Offshore Platforms, using the results from the natural and engineering sciences as inputs, boundaries and constraints to the analysis |
| Keywords: | Mermaid, Marine spatial planning, Multi use offshore platforms, Socio-economic assessment, Marine infrastructure, EU, Energy, Aquaculture |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:1914&r= |
| By: | Kaur, Karman; Mehar, Mamta; Prasad, Narayan |
| Keywords: | Crop Production/Industries |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae21:315051&r= |
| By: | Ulrik R. Beck (Danish Research institute for Economic Analysis and Modelling (DREAM)); Peter K. Kruse-Andersen (Department of Economics, University of Copenhagen); Louis B. Stewart (The Secretariat of the Danish Council on Climate Change) |
| Abstract: | A substantial literature investigates carbon leakage effects for large countries and climate coalitions. However, little is known about leakage effects for a small open economy within a climate coalition. To fill this gap in the literature, we incorporate international climate policies relevant for a small open EU economy into the general equilibrium model GTAP-E. We focus our analysis on Denmark, but we show that our framework can be applied to any EU economy. We find substantial leakage associated with an economy-wide CO2e tax. This result is strongly affected by EU climate policies. We also present sector-specific leakage rates and find large sectoral differences. |
| Keywords: | Carbon leakage, Trade and the environment, Climate policy, Computable general equilibrium |
| JEL: | F18 H23 Q54 |
| Date: | 2021–11–28 |
| URL: | http://d.repec.org/n?u=RePEc:kud:kuiedp:2108&r= |
| By: | Nchofoung, Tii; Asongu, Simplice |
| Abstract: | The objective of this study is to evaluate: (i) the effects of infrastructures on CO2 emission and (ii) how trade openness and governance contribute to mitigating these effects. The results from the system GMM methodology for 36 African countries between the 2003-2019 period show that infrastructural development exacerbates CO2 emission in Africa. This result is robust across different types of infrastructural development indexes. When the indirect effect regressions are carried out by interacting governance and trade openness with the different infrastructural development variables, the following results are obtained. Firstly, infrastructural development interacts with governance producing a positive net effect, up to a governance threshold estimate of 0.532 when the positive net effect is nullified. Secondly, infrastructures interact with trade openness producing a negative net effect up to a trade openness threshold of 78.066914 (% of GDP) when the negative net effect is nullified. Positive and negative synergy effects are also apparent. Practical policy implications are discussed based on the results obtained. |
| Keywords: | Infrastructures, CO2, trade openness, governance, Africa, System GMM |
| JEL: | C23 N67 N77 Q56 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110755&r= |
| By: | Davide Furceri; Johannes Emmerling; Francisco Líbano Monteiro; Pietro Pizzuto; Massimo Tavoni; Mr. Prakash Loungani; Mr. Jonathan David Ostry |
| Abstract: | COVID-19 has had a disruptive economic impact in 2020, but how long its impact will persist remains unclear. We offer a prognosis based on an analysis of the effects of five previous major epidemics in this century. We find that these pandemics led to significant and persistent reductions in disposable income, along with increases in unemployment, income inequality and public debt-to-GDP ratios. Energy use and CO2 emissions dropped, but mostly because of the persistent decline in the level of economic activity rather than structural changes in the energy sector. Applying our empirical estimates to project the impact of COVID-19, we foresee significant scarring in economic performance and income distribution through 2025, which be associated with an increase in poverty of about 75 million people. Policy responses more effective than those in the past would be required to forestall these outcomes. |
| Keywords: | impulse response; effects of pandemic; list of pandemic; pandemic event; baseline estimate; impact of COVID-19; COVID-19; Greenhouse gas emissions; Income inequality; Income distribution; Global |
| Date: | 2021–04–30 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2021/119&r= |
| By: | Ms. Natasha X Che |
| Abstract: | With the debt obligation of Itaipú Binational being completed paid off by 2023, the Annex C of the Treaty of Itaipú, which governs the operation and revenue distribution of the Itaipú Dam, is due for review and possible revisions. The implications for Paraguay’s export revenues and fiscal position are potentially significant. The paper reviews the current energy distribution and sales arrangements of Itaipú and the potential implication of the Annex C revision for the future. |
| Keywords: | revenue distribution; distribution of the Itaipú Dam; sales arrangement; Annex C revision; compensation payment; Electricity; Exports; Fiscal stance; Renewable energy; Natural resources |
| Date: | 2021–05–05 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2021/129&r= |
| By: | Ma, Wanglin; Zheng, Hongyun; Gong, Binlei |
| Keywords: | Consumer/Household Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae21:314990&r= |
| By: | Diop, Samba; Asongu, Simplice; Tchamyou, Vanessa |
| Abstract: | This paper measures the macroeconomic impact of recent political crisis, protest and uprisings in Africa with the generalized synthetic control method and evaluates the role played by natural resource dependence in the modulation of the impact. We find that political crisis, protests and uprisings have a significant and negative impact on economic growth while the impact is positive on investment and price level. For economic growth, the deviation of the actual series from the counterfactual is negative, instantaneous, persistent and highly significant; indicating non-negligible costs of the shock. Indeed, dependence on natural resources amplifies the negative effect of political crisis, protests and uprisings on GDP. Finally, the more the treated country depends on natural resources, the more it becomes resilient from the investment losses caused by political crisis. |
| Keywords: | political conflicts; economic growth; Africa |
| JEL: | K42 O17 O55 P17 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110696&r= |
| By: | Sadana, Divya |
| Abstract: | Past literature has shown that 1970 amendments to the Clean Air Act (CAA) led to significant reduction in air pollution early 1970s, and that it had positive infant health consequences for the cohorts treated by CAA. Because effects of in-utero and early childhood conditions are persistent, and the health effects can remain latent for years, CAA may impact the future adult outcomes. In this paper, I investigate the impact of the CAA on the future crime. In a difference-in-differences framework, I find that the cohorts that were born in the year of the CAA’s first implementation commit fewer crimes 15 to 24 years later. The magnitude of this impact is about 4 percent. Property crimes rather than violent crimes are impacted. I also estimate that CAA reduced the ambient air pollution by 14 percent. These reduced form estimates suggest that a one percent reduction in air pollution reduces future crime rate by 0.3 percent. |
| Keywords: | Pollution, Crime, Birthweight, Education, Employment Status, Earnings |
| JEL: | I15 I25 J24 K14 K42 Q53 |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110564&r= |
| By: | Charlotte Demonsant (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Kevin Levillain (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Blanche Segrestin (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | La réduction des émissions de gaz à effet de serre (GES) apparaît comme un enjeu majeur de la limitation du réchauffement climatique et nécessite une action collective inédite. Les solutions actuelles (prix carbone, auto-organisation de l'action) peinent à coordonner de manière juste et efficace l'action à conduire. La crise des gilets jaunes en 2018 suite à l'augmentation de l'écotaxe en France en est une illustration. Nous partons du constat d'un dilemme équité/ efficacité (Manne and Stephan, 2005) dans la conception des politiques climatiques et proposons d'étudier un modèle alternatif, dit des avaries communes, inspiré du droit maritime. Contrairement aux mécanismes classiques découlant du concept de prix carbone et basé sur un principe de responsabilité du pollueur-payeur, ce modèle repose sur un principe très différent. L'idée est en effet, qu'en cas de péril commun, comme le changement climatique, l'effort de réduction consenti par l'un permet de préserver les richesses des autres et doit donc être partagé. Sur cette base, il est possible de réfléchir à une action efficace en s'assurant par ailleurs que son coût soit mutualisé de manière équitable. Dans cette contribution, nous comparons les effets en termes d'efficacité et d'équité d'une taxe carbone et de notre modèle d'avaries communes. Nous démontrons le couplage « négatif » entre équité et efficacité du mécanisme de taxe carbone et la propriété du modèle des avaries communes à dissocier équité et efficacité. Nous explicitons pour chacun des modèles les latitudes d'action, les connaissances minimales nécessaires à l'action et la prise en compte de trois critères essentiels à une politique climatique : l'atteinte de l'objectif environnemental, l'efficacité économique et l'équité. Nous rendons ainsi compte des dépendances/indépendances entre ces dimensions des deux mécanismes étudiés et ouvrons une nouvelle voie pour penser une coordination de l'action de réduction juste et efficace. |
| Date: | 2021–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03406020&r= |
| By: | Dowds, Jonathan; Sullivan, James; Rowangould, Gregory; Aultman-Hall, Lisa |
| Abstract: | Fully autonomous vehicles (AVs) hold the potential to significantly improve traffic safety, mobility and accessibility, and energy efficiency—longstanding challenges for rural transportation planning. Some of these benefits are inherent to automation and therefore achievable through private AV ownership, while other benefits can only be achieved if AVs are operated in a shared fleet through a carsharing model. AV benefits such as increased vehicle occupancy are only achieved if the AV is used for ridesharing. AVs may also significantly increase vehicle travel and associated environmental impacts. The magnitude of the changes in vehicle travel and environmental impact will depend to a significant degree on the extent to which AVs are available for individual ownership vs. carsharing or ridesharing. As a result, shared mobility is commonly cited as an important strategy for mitigating growth in vehicle travel. Most AV research to date has been done in an urban context. Changes in travel behavior brought about by automation will likely differ in rural areas, which are characterized by long travel distances and dispersed populations. Different policies may be needed to realize the mobility and safety benefits of vehicle automation in rural areas. To consider these issues, researchers at the University of Vermont and University of Waterloo reviewed the existing literature on AVs in shared and private ownership scenarios and assessed the benefits inherent to AVs (regardless of ownership model) as well as of the benefits and challenges of AV-sharing in rural areas relative to urban areas. This policy brief summarizes the findings from that research and provides policy implications. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, Autonomous vehicles, Implementation, Rural areas, Surveys, Travel demand, Vehicle miles of travel |
| Date: | 2021–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt0q96v6nq&r= |
| By: | Heinz, Nicolai; Koessler, Ann-Kathrin; Engel, Stefanie |
| Abstract: | Adverse consequences of climate change often affect people and places far away from those that have the greatest capacity for mitigation. Several correlational and some experimental studies suggest that the willingness to take mitigation actions may diminish with increasing distance. However, the empirical findings are ambiguous. In order to investigate if and how socio-spatial distance to climate change effects plays a role for the willingness to engage in mitigation actions, we conducted an online experiment with a German population sample (n=383). We find that the willingness to sign a petition for climate protection was significantly reduced when a person in India with a name of Indian origin was affected by flooding as compared to a person in Germany with a name of German origin. Distance did not affect donating money to climate protection or approving of mitigation policies. Our results provide evidence for the existence of a negative effect of distance to climate change consequences on the willingness to engage in low-cost mitigation actions. Investigating explanations for such an effect, we find that it can be attributed to the spatial distance dimension, which reduced participants’ perception of being personally affected by climate change. Moreover, we found some cautious evidence that people with strong racist attitudes react differently to the distance manipulations, suggesting a form of environmental racism that could also reduce mitigation action in the case of climate change. |
| Keywords: | psychological distance,social distance,climate change,spatial distance,mitigation,economic experiment,environmental racism |
| JEL: | D91 C93 Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:246815&r= |
| By: | Uduji, Joseph; Okolo-Obasi, Elda; Asongu, Simplice |
| Abstract: | Purpose – The purpose of this paper is to critically examine the multinational oil companies’ (MOCs) corporate social responsibility (CSR) initiatives in Nigeria. Its special focus is to investigate the impact of the global memorandum of understanding (GMoU) on reducing incidents of electoral violence in the oil-producing communities. Design/methodology/approach – This paper adopts a survey technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 1200 households were sampled across the Niger Delta region of Nigeria. Findings – The results from the use of a combined propensity score matching and logit model indicate that GMoU model made significant impact in deterring occurrences of electoral violence, when interventions on cluster development boards (CDBs) are designed to mitigate the intricate of political clashes in the region. Practical implication – This implies that CSR interventions of MOCs play a vital role in reducing incidents of electoral violence in Nigeria’s oil producing region. Social implication – Reducing the increasing electoral violence in the oil host communities, will in turn create an enabling environment for more extensive and responsible business of Multinational Corporation in sub-Saharan Africa. Originality/value –This paper extends and contributes to the literature on CSR initiatives of multinational enterprises in developing countries and rationale for demands for social projects by host communities. It concludes that business has an obligation to help in solving problems of public concern. |
| Keywords: | Electoral violence, corporate social responsibility, multinational oil companies, sub-Saharan Africa |
| JEL: | O1 O55 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110756&r= |
| By: | Boneva, Lena; Ferrucci, Gianluigi; Mongelli, Francesco Paolo |
| Abstract: | Climate change has profound effects not only for societies and economies, but also for central banks’ ability to deliver price stability in the future. This paper starts by documenting why climate change matters for monetary policy: it impacts the economic variables relevant to setting the monetary policy stance, it interacts with fiscal and structural responses and it can generate dislocations in financial markets, which are impossible for monetary policy to ignore. Next, we survey several possible ways central banks can respond to climate change. These range from protective actions to more proactive measures aimed at mitigating climate change and supporting green finance and the transition to sustainable growth. We also discuss the constraints and trade-offs faced by central banks as they respond to climate risks. Finally, focusing on the specific challenges faced by inflation-targeting central banks, we consider how certain design features of this regime might interact with, and evolve in response to, the climate challenge. JEL Classification: E52, E58, Q54 |
| Keywords: | climate change, environmental economics, green finance, monetary policy, sustainable growth economics |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbops:2021285&r= |
| By: | Goyal, Rohit; Reiche, Colleen; Fernando, Chris; Cohen, Adam |
| Abstract: | Advanced air mobility (AAM) is a broad concept enabling consumers access to on-demand air mobility, cargo and package delivery, healthcare applications, and emergency services through an integrated and connected multimodal transportation network. However, a number of challenges could impact AAM’s growth potential, such as autonomous flight, the availability of take-off and landing infrastructure (i.e., vertiports), integration into airspace and other modes of transportation, and competition with shared automated vehicles. This article discusses the results of a demand analysis examining the market potential of two potential AAM passenger markets—airport shuttles and air taxis. The airport shuttle market envisions AAM passenger service to, from, or between airports along fixed routes. The air taxi market envisions a more mature and scaled service that provides on-demand point-to-point passenger services throughout urban areas. Using a multi-method approach comprised of AAM travel demand modeling, Monte Carlo simulations, and constraint analysis, this study estimates that the air taxi and airport shuttle markets could capture a 0.5% mode share. The analysis concludes that AAM could replace non-discretionary trips greater than 45 min; however, demand for discretionary trips would be limited by consumer willingness to pay. This study concludes that AAM passenger services could have a daily demand of 82,000 passengers served by approximately 4000 four- to five-seat aircraft in the U.S., under the most conservative scenario, representing an annual market valuation of 2.5 billion USD. |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2021–07–02 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt4b3998tw&r= |
| By: | Mr. Amine Mati; Ms. Monique Newiak; James Wilson |
| Abstract: | This paper focuses on identifying potential asymmetric responses of non-commodity output growth in times of positive and negative commodity terms-of-trade shocks. Using a sample of 27 oil-exporting countries and a panel VAR method, the study finds: 1) the short-and medium-run response of real non-commodity GDP growth is larger for negative shocks than positive shocks; 2) this asymmetry is more pronounced in countries with weak pre-existing fundamentals–high levels of public debt and low levels of international reserves–which also serve to amplify the volatility of the response; 3) the output response to positive shocks is stronger following a sustained period of CTOT increases, while the impact of negative shocks on output are more damaging when they occur after a period of CTOT decline. |
| Keywords: | GDP Response; commodity exporter; terms-of-trade shock; A. commodity exporter; commodity Real GDP; Commodity prices; Commodity price indexes; Commodity price fluctuations; Oil; Global; Central and Eastern Europe; Middle East; North Africa; Central Asia; Caribbean |
| Date: | 2021–06–11 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2021/163&r= |
| By: | Animashaun, Jubril; Wossink, Grada |
| Keywords: | Resource /Energy Economics and Policy, Labor and Human Capital |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae21:315071&r= |
| By: | Phoebe Koundouri; Stathis Devves; Angelos Plataniotis |
| Abstract: | The Agenda 2030 with its 17 Sustainable Development Goals (SDGs) along with the European Green Deal and its 9 Policy Areas, are the key strategic frameworks for the transformation of Europe into a climate-neutral continent in the future decades. Thus, the mandates derived from these contexts must be taken into consideration by the European countries. This report aims to suggest a methodology for the co-integration of the Sustainable Development Goals (SDGs) and the European Green Deal (EGD), with the Country-specific recommendations (CSRs) made by the European Commission as part of the Semester process. At the same time, all these should be aligned with the EU Recovery Plan, to supply applicable strategies to the European policymakers and strengthen the national recovery Plans of the Member States, which are driven by the above-mentioned EU-driven packs, in line with the superior UN Agenda for the Sustainable Development. For the alignment of CSRs, the SDGs, and the EGD a 3D-mapping approach is proposed. After the Introduc tion in Section 1, the framework of the applicable Policies is presented in Section 2 and our Methodology is described in Section 3. In Section 4 our results are demonstrated for the EU and in Section 5 the main conclusions are listed along with a discussion for future directions. Our analysis shows that overall, the EU has sufficiently incorporated the SDGs in its strategic priorities, although there is still room for improvement. Several issues identified by SDSN's Sustainable Development Report 2020 either as major or significant challenges have not been captured by the CSRs. The role of these Country-specific results and their mapping, as provided in the Supplementary Material, is to support the EU Commission and the Member States to reinforce the alignment of their policy priorities with the ambitions of the major Sustainability Agenda. |
| Keywords: | Sustainable Development Goals (SDG's), European Green Deal (EGD), European Semester Process, Country Specific Recommendations (CSR's), 3-D Mapping |
| Date: | 2021–11–21 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:2113&r= |
| By: | Mirzabaev, Alisher |
| Keywords: | Consumer/Household Economics, Environmental Economics and Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae21:315872&r= |
| By: | Charlotte Demonsant (MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres) |
| Abstract: | Facing the increasing temperature of the earth, the rise of hazardous events with disastrous consequences on social and economic circumstances in a world where wealth is not equally distributed among countries or individuals, questions of solidarity are more than crucial today. Climate change mitigation proposals lack a macro perspective of actions that could be led. International negotiations are indeed in a dead end because the approach towards agreements is more about a priori rights and responsibility and does not take in account the potential of interdependencies underlying a mitigation action. By the exploration of a management principle issued from an ancient maritime rule called general average, the point of the PhD will be to change perspective and no longer focus on rights and responsibilities a priori but on the common potential of the action carried out in terms of solidarity. |
| Keywords: | climate change,solidarity,Commons |
| Date: | 2020–12–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03063693&r= |
| By: | Thorstensen, Vera; Arima Jr, Mauro Kiithi |
| Abstract: | O objetivo do artigo é apresentar a situação do Brasil em matéria de política de eficiência energética, tomando-se como referência os padrões estabelecidos pela Organização para Cooperação e Desenvolvimento Econômico (OCDE). |
| Date: | 2021–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:fgv:eesptd:55036&r= |