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on Energy Economics |
| By: | Thube, Sneha; Peterson, Sonja; Nachtigall, Daniel; Ellis, Jane |
| Abstract: | This paper reviews quantitative estimates of the economic and environmental benefits from different forms of international co-ordination on carbon pricing based on economic modelling studies. Forms of international co-ordination include: harmonising carbon prices (e.g. through linking carbon markets), extending the coverage of pricing schemes, phasing out fossil fuel subsidies, developing international sectoral agreements, and establishing co-ordination mechanisms to mitigate carbon leakage. All forms of international co-operation on carbon pricing could deliver benefits, both economic (e.g. lower mitigation costs) and environmental (e.g. reducing greenhouse gas (GHG) emissions and carbon leakage). There is scope to considerably increase the coverage of carbon pricing, since until 2021 only around 40% of energy-related CO2 emissions in 44 OECD and G20 countries face a carbon price. There is also significant scope to improve international co-ordination on carbon pricing: moving from unilateral carbon prices to a globally harmonized carbon price to reach the 1st round of NDC targets for 2030 can reduce global mitigation cost on average by two thirds or $229 billion. Benefits tend to be higher with broader participation of countries, broader coverage of emissions and sectors and, more ambitious policy goals. Extending carbon pricing to non-CO2 GHG could reduce global mitigation costs by up to 48%. Absolute cost savings from harmonized carbon prices increase by almost 70% in 2030 for reductions in line with the 2 °C target. Most, but not all, countries gain economic benefits from international co-operation, and these benefits vary significantly across countries and regions. Complementary measures outside co-operation on carbon pricing (e.g. technology transfers) could potentially ensure that co-operation provides economic benefits for all countries. |
| Keywords: | climate change mitigation,harmonizing carbon pricing,fossil fuel subsidy reforms,border carbon adjustment,greenhouse gas mitigation,sectoral agreements,climate-economy-modelling |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:248648&r= |
| By: | Gabriel Nasser Doile de Doyle (Renewable Energy Graduate Program, Federal University of Paraiba, Brazil & Electric Engineer PhD Program, Federal University of Itajuba, Brazil); Paulo Rotella Junior (Department of Production Engineering, Federal University of Paraiba, Brazil & Department of Management, Federal Institute of Education, Science and Technology - North of Minas Gerais, Brazil & Faculty of Finance and Accounting, Prague University of Economics and Business, Czech Republic & Faculty of Social Sciences, Charles University, Czech Republic); Luiz Celio Souza Rocha (Department of Management, Federal Institute of Education, Science and Technology - North of Minas Gerais, Brazil); Priscila Franca Gonzaga Carneiro (Renewable Energy Graduate Program, Federal University of Paraiba, Brazil); Rogério Santana Peruchi (Department of Production Engineering, Federal University of Paraiba, Brazil); Karel Janda (Faculty of Finance and Accounting, Prague University of Economics and Business, Czech Republic & Faculty of Social Sciences, Charles University, Czech Republic); Giancarlo Aquila (IEPG, Federal University of Itajuba, Brazil) |
| Abstract: | The Brazilian National Electrical Agency (ANEEL) proposed in 2019 that the costs for accessing the electricity grid should be shared among all consumers. This would do away with cross-subsidies where normal consumers without installed solar distributed generation (DG) units effectively cover the costs of access to the grid for consumers with DG units. We compared the viability of two scenarios, one before and the other after the proposed changes, to understand how this legislature will affect the viability of DG projects in Brazil. We did this by studying all 5 regions covering the whole Brazilian area by analyzing data on average solar radiation, demand, and energy prices. We conducted stochastic analysis by varying the investment costs, demand, and energy prices, for DG solar plants. Lastly, we conducted scholastic analysis for the national scenario by varying the Discount Rate (DR). We confirmed that there is a statically significant reduction in economic viability for DG solar units in Brazil if the proposed legislation were to be enacted, while the payback period and other financial indicators differ across regions. We confirmed that solar radiation is not the only decisive factor in determination of economic viability of DG solar production. |
| Keywords: | Distributed Generation, Regulation Policy, Cross-subsidies, Micro-Power Plants, Economic Feasibility Analysis, Solar Photovoltaic Energy |
| JEL: | Q41 Q48 |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2022_02&r= |
| By: | Victor Ajai (Energy Policy Research Group, Judge Business School, University of Cambridge); Karim Anaya (Energy Policy Research Group, Judge Business School, University of Cambridge); Geoffroy Dolphin (Energy Policy Research Group, Judge Business School, University of Cambridge); Michael Pollit (Energy Policy Research Group, Judge Business School, University of Cambridge) |
| Keywords: | Total factor productivity, growth accounting, regulation, energy networks, climate policy |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:anj:wpaper:016&r= |
| By: | Rickels, Wilfried; Schwinger, Jörg |
| Abstract: | Assessing climate policies that involve temporary overshoot of temperature targets requires an accurate representation of carbon cycle and climate dynamics. Here, we compare temperature overshoot climate policies obtained with the dynamic integrated climate–economy (DICE) integrated assessment model using two different climate-carbon cycle sub-models: first, the original DICE implementation, and second an implementation of the finite amplitude impulse response (FaIR) simple climate model. We analyze in a cost-effectiveness framework the minimum abatement and carbon dioxide removal costs for compliance against a (future) ceiling on temperatures. In our setup, the magnitude of the overshoot is not limited by temperature impacts, but simply by the temperature dynamics such that from a certain compliance date onwards a temperature ceiling cannot be exceeded anymore. We show that the rather sluggish temperature response and underestimation of carbon sinks in the most recent version of DICE implies that the additional future temperature change after a cessation of a given CO2 emission scenario is significantly overestimated compared to the zero emission commitments obtained with FaIR and complex earth system models. However, investigating climate policies which allow for a temporary temperature overshoot, this inertia translates into more than twice as high optimal carbon prices compared to FaIR and consequently in rather strict climate policies. For compliance with the 1.5 °C target from 2100 onward and non-CO2-warming of 0.2 °C, the mean optimal carbon prices in the year 2030 are 173USD/tCO2 and 56USD/tCO2 for DICE and FaIR, respectively. Still, the dynamics towards the target suggest that improved understanding of and accounting for (limited) reversibility of vulnerable Earth system components is required to derive appropriate overshoot climate policies. |
| Keywords: | temperature overshoot,integrated assessment modelling,DICE,FaIR |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:248716&r= |
| By: | Catanzaro, Daniele (Université catholique de Louvain, LIDAM/CORE, Belgium); Pesenti, Raffaele; Ronco, Roberto |
| Abstract: | The combined increase of energy demand and environmental pollution at a global scale is forcing a rethinking of energy supply policies and production models in sustainable terms. In order to flatten demand peaks in power plants, energy suppliers adopted pricing policies that stimulate a change in the consumption practices of customers. One example of such policies is the Time-of-Use (TOU)-based tariffs, which encourage electricity usage at off-peak hours by means of low prices, while penalizing peak hours with higher prices. To avoid a sharp rise of the energy supply costs, manufacturing industry must carefully reschedule the production processes, by shifting them towards less expensive periods. TOU-based tariffs impose specific constraints on the completions of the jobs involved in the production processes as well as a partitioning of the time horizon of the production into a set of time slots, whose associated non-negative cost become part of the objective to be optimized. In this article, we review the flourishing literature on job scheduling in presence of TOU-based energy tariffs, with the view to provide researchers and practitioners with a framework that may guide them towards the most important theoretical results on the topic as well as the most prominent practical applications in sustainable manufacturing. |
| Keywords: | Combinatorial Optimization ; Energy Efficient Scheduling ; Time-of-Use Tariffs ; Sustainable Manufacturing |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2021019&r= |
| By: | Billel Djeghri (Université de Constantine 2 Abdelhamid Mehri [Constantine]) |
| Abstract: | This study aims to determine the number of photovoltaic installations with a capacity of 3 kWp and a price of 800.000 DA each necessary to achieve the self-sufficiency in electricity of all the mosques of the Wilaya of Constantine, then to estimate the savings made in self-consumption. To achieve the expected objective, a simulation approach was adopted in an environment that evolves dynamically according to the interactions of the elements that make it up (sunshine, temperature, etc.). The study revealed that around 1500 of these installations were needed to achieve self-sufficiency in electricity for all the mosques in the Constantine Wilaya and allowed a positive return on investment and annual gains for the State Treasury of 22.722.000 DA with a reconstitution of the capital committed for their purchase in 15 years for a real price of electricity of 12DA/KW |
| Abstract: | Cette étude vise à déterminer le nombre d'installations photovoltaïques d'une puissance de 3 kWc et d'un prix de 800.000 DA chacune nécessaire pour atteindre l'autosuffisance en électricité de l'ensemble des mosquées de la Wilaya de Constantine, puis à estimer les économies réalisées en autoconsommation. Pour atteindre l'objectif escompté, une démarche de simulation a été adoptée dans un environnement qui évolue de manière dynamique selon les interactions des éléments qui le composent (ensoleillement, température, etc.). L'étude a révélé qu'environs 1500 de ces installations étaient nécessaires pour atteindre l'autosuffisance en électricité de l'ensemble des mosquées de la Wilaya de Constantine et permettaient un retour sur investissement positif et des gains annuels pour le Trésor public de 22.722.000 DA avec une reconstitution du capital engagé pour leur achat en 15 ans au prix réel de l'électricité de 12 DA/KW. |
| Keywords: | savings,Constantine,solar energy,mosques,mosquées,énergie solaire,économies |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03431918&r= |
| By: | Herve Kaffo Fotio (University of Maroua, Cameroon); Tii N. Nchofoung (University of Dschang, Cameroon); Simplice A. Asongu (Yaoundé, Cameroon) |
| Abstract: | Despite growing attention on the role of renewable energy in promoting economic growth and environmental sustainability, its adoption rate remains uncomfortably low, especially in developing countries. This study attempts to explore the ways to extend the installed capacity of renewable energy in 16 sub-Saharan African (SSA) countries over the period 1980-2017. The results from panel cointegration econometric techniques suggest that policies to enhance financial integration should increase the installed capacity of renewable energy in SSA, though the beneficial effect is only statistically significant in the long run. This effect holds, although disproportionately when the financial integration index is disaggregated into its de facto and de jure aspects. Moreover, the quantile regression analysis reveals that the effect of financial integration on renewable energy capacity is positive but heterogeneous across the conditional distribution of renewable energy capacity. However, the positive effect of financial integration is not enough to ensure the diversification of the energy mix, measured as the share of renewable installed capacity in the total installed capacity. The results show that economic growth is positively linked to renewable energy generation capacity while financial development is negatively associated with renewable energy production. Overall, these findings suggest that policies to increase the openness to foreign capitals are welcomed as far as renewable energy generation is concerned. |
| Keywords: | Financial integration, Renewable energy, Sub-Saharan Africa, Cointegration |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:22/016&r= |
| By: | Hinterlang, Natascha; Martin, Anika; Röhe, Oke; Stähler, Nikolai; Strobel, Johannes |
| Abstract: | In this paper, we introduce a closed-economy version of the dynamicenvironmental multi-sector general equilibrium modelEMuSeto analyze the effects of financing a labor tax reduction through higher consumption, energy or emissions taxation.We find that, for sufficiently high environmental damage, using energy and emission taxes as the financing instrument eventually outperforms the use of consumption taxes due to a positive productivity-like shock. However, it takes time for the positive effects to materialize. Manufacturing, transportation and energy production sectors tend to lose (or gain only a little) while administration, services and research sectors tend to benefit from the implementation of an environmental taxation as a financing instrument. As demand shifts towards sectors less affected by the tax shift, the aggregate economic effects are different in the multi-sector economy compared to a conventional one-sector-economy framework. |
| Keywords: | EMuSe,Dynamic General Equilibrium Model,Sectoral Heterogeneity,Environmental Tax Policy,Input-Output Matrix |
| JEL: | E32 E50 E62 H32 Q58 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bubdps:502021&r= |
| By: | Laté Ayao Lawson (BETA - Bureau d'Économie Théorique et Appliquée - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Phu Nguyen-Van (BETA - Bureau d'Économie Théorique et Appliquée - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Do institutional and geographical characteristics matter for energy consumption similar to the case of economic development? Why do coastal Sub-Saharan African (SSA) countries appear to be more energy-consuming than inland ones? To answer these questions, surprisingly rarely addressed in the existing literature, we empirically assess the determinants of primary energy use across SSA, exploiting spatial analysis methods. Our results highlight the existence of positive geographical spillovers in primary energy use. We also derive factors (income, exports, population dynamics and urbanization) explaining the reasons coastal countries are more energy-intensive. Furthermore, good political institutions and geographical location enhance primary energy use, connoting a "two sides of the same coin" role played by both factors. Our results impel SSA countries to develop alternative energy strategies and deploy energy resources management policies since adverse environmental consequences associated with increasing fossil energies use are to expect in the near future. |
| Keywords: | Institutions,Geography,Primary energies,Spatial effects,Development |
| Date: | 2021–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03098071&r= |
| By: | ITF |
| Abstract: | This report evaluates policies for transitioning to clean vehicles and clean energy for road transport. The review includes measures that can help to scale up the transition quickly and instruments to manage it. It analyses technologies for clean passenger cars, light commercial vehicles, buses and trucks, and identifies solutions that deliver the greatest benefits. It reviews the policies for the promotion of clean vehicles currently in place and assesses the response of private sector stakeholders. The study specifically takes account of increasing digital connectivity and automation. |
| Date: | 2021–07–21 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:90-en&r= |
| By: | Paschen, Marius; Meier, Felix; Rickels, Wilfried |
| Abstract: | Any integration of extra carbon dioxide removal (CDR) via terrestrial or marine sink enhancement into climate policies requires accounting for their effectiveness in reducing atmospheric carbon concentration and translating this information into the amount of carbon credits (to be used in official and voluntary emission trading schemes). Here, we assess accounting schemes in their appropriateness of assigning carbon credits. We discuss the role of temporary carbon storage and present the various accounting methods for carbon credit assignment. We explain how we have implemented the methods numerically and analyse carbon assignments across the different accounting schemes, using stylized, model-based ocean sink enhancement experiments. |
| Keywords: | Carbon Dioxide Removal,Temporary Carbon Storage,Carbon Sinks,Carbon Accounting |
| JEL: | Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkwp:2204&r= |
| By: | Echeverría, Lucía; Gimenez-Nadal, J. Ignacio; Molina, José Alberto |
| Abstract: | Carpooling is a sustainable daily mobility mode, implying significant reductions in energy consumption and CO2 emissions, although it remains an uncommon practice. With the aim of stimulating this green transportation mode, this paper focus on understanding why certain individuals will agree to share a car to a common destination, apart from the obvious environmental benefit in emissions. It first describes the profile of users and then explores the relationship between this transportation mode and the participants' well- being. To that end, we have selected two countries, the UK and the US, where the use of cars represents a high proportion of daily commuting. We use the UK Time Use Survey (UKTUS) from 2014-2015 and the Well-Being Module of the American Time Use Survey (ATUS) from 2010-2012-2013 to identify which groups in the population are more likely to pool their cars, and with whom those individuals enjoy carpooling more. Results indicate that individuals with certain socio-demographic characteristics and occupations are more likely to commute by carpooling, but the profile seems to be country-specific. Furthermore, our evidence reveals a positive relationship between carpooling and well-being during commuting. |
| Keywords: | Carpooling; Perfil del Consumidor; Medios de Transporte; Bienestar; |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:3568&r= |
| By: | Mark Budolfson (Rutgers School of Public Health); Francis Dennig (Yale-NUS College); Frank Errickson (University of California [Berkeley] - University of California, Princeton University); Simon Feindt (MCC - Mercator Research Institute on Global Commons and Climate Change - PIK - Potsdam Institute for Climate Impact Research, TU - Technische Universität Berlin); Maddalena Ferranna (Harvard School of Public Health - Department of Global Health and Population [Boston, MA, USA] - Harvard University [Cambridge]); Marc Fleurbaey (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, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 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); David Klenert (JRC - European Commission - Joint Research Centre [Seville]); Ulrike Kornek (MCC - Mercator Research Institute on Global Commons and Climate Change - PIK - Potsdam Institute for Climate Impact Research, PIK - Potsdam Institute for Climate Impact Research); Kevin Kuruc (OU - University of Oklahoma); Aurélie Méjean (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Wei Peng (Penn State - Pennsylvania State University - Penn State System); Noah Scovronick (Emory University [Atlanta, GA]); Dean Spears (University of Texas at Austin [Austin]); Fabian Wagner (IIASA - International Institute for Applied Systems Analysis [Laxenburg]); Stéphane Zuber (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, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Existing estimates of optimal climate policy ignore the possibility that carbon tax revenues could be used in a progressive way; model results therefore typically imply that near-term climate action comes at some cost to the poor. Using the Nested Inequalities Climate Economy (NICE) model, we show that an equal per capita refund of carbon tax revenues implies that achieving a 2 °C target can pay large and immediate dividends for improving well-being, reducing inequality and alleviating poverty. In an optimal policy calculation that weighs the benefits against the costs of mitigation, the recommended policy is characterized by aggressive near-term climate action followed by a slower climb towards full decarbonization; this pattern—which is driven by a carbon revenue Laffer curve—prevents runaway warming while also preserving tax revenues for redistribution. Accounting for these dynamics corrects a long-standing bias against strong immediate climate action in the optimal policy literature |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:pseptp:hal-03483584&r= |
| By: | Julia M. Puaschunder (The New School, Department of Economics, Eugene Lang College, New York, NY 10003, USA) |
| Abstract: | The climate change crisis has gained unprecedented urgency in the most recent decade. Overall, climate change has already led to and will continuously lead to environmental tipping points and irreversible lock-ins that will decrease the overall productivity and common welfare. When taking a closer look at the macroeconomic growth prospects as measured in Gross Domestic Product (GDP) per country, a changing climate will affect countries differently, when considering different mean temperatures but also differences in the GDP sector composition per country and a differing peak temperature at which a GDP sector can be most productive. In the first economic ‘classic’ theories of Adam Smith, Thomas Robert Malthus, David Ricardo, Karl Marx and Joseph Schumpeter land productivity was considered as an underlying growth driver. In the evolution of Modern Growth Theory (MGT), these theories and insights got abandoned. With climate change pressuring economic productivity and the rising impact of global warming expected to determine economic output more and more so in the future, this paper calls for a reintegration of climate and temperature into standard growth theory. In light of the enormous effect of temperature and climate on economic productivity that is likely to rise in the years to come but also with reference to the highly unequally distributed economic winning and losing prospects in-between countries and over time, this article argues for an integration of temperature and climate in contemporary Growth Theory, called Climate Growth Theory. Micro- and macroeconomic attempts to integrate productivity differences between countries based on energy supply, climate and overall favorable working conditions will be presented alongside most recent models to integrate temperature and climate into macroeconomic growth models and sustainable consumption patterns. |
| Keywords: | Climate Change, Economics of the Environment, Endogenous Growth Theory, Energy, Environmental Governance, Environmental Justice, Exogenous Growth Theory, Green New Deal, Intergenerational Equity, Monetary Policy, Multiplier, Non-renewable energy, Renewable energy, Sustainability |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:lpaper:0084&r= |
| By: | Kushneel Prakash (Melbourne Institute: Applied Economic & Social Research, The University of Melbourne); Musharavati Ephraim Munyanyi (School of Economics, Finance & Marketing RMIT University) |
| Abstract: | Obesity is a major health concern in both developed and developing nations. Yet, evidence on the determinants of obesity is relatively limited. We contribute to the literature on the determinants of obesity by empirically examining the effects of energy poverty on obesity. Using 14 waves of the Household, Income and Labour Dynamics in Australia (HILDA) survey, we find energy poverty is positively associated with obesity. Applying linear probability model, our estimates suggest that being energy poor results between 1.4 and 2.5 percentage points increase in the probability of being obese, depending on how energy poverty is measured. Our results are robust to alternative modelling techniques, inclusion of additional control variables and potential influence of unobservable. We also find that amount of sleep, health status and level of psychological distress are important transmission channels through which energy poverty influences the probability of being obese. |
| Keywords: | energy poverty, obesity, health, Australia |
| JEL: | I10 I12 Q40 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:iae:iaewps:wp2021n11&r= |
| By: | Nur Amira Aina Zulkifli; Shazmin Shareena A. Azis |
| Abstract: | In 2020, the world’s 7.8 billion inhabitants grappled with the novel coronavirus and the disease it causes, COVID-19, and gained new insight into the contributions of population density in urban areas, household size, and population aging to our vulnerability to pandemics. The restriction movement and lockdown has cause less global economic activity thus resulting less demand for some energy sources. However, some of the studies found an increase in household energy consumption up to 95% and negatively impact the occupant’s expenditure since the restriction of COVID-19. Green building can be introduced as a response to this alarming situation. Green buildings have been proven to conveyed benefits in terms of energy and water saving and reduce negative impacts on the environment. Over decades, numerous studies have been conducted to investigate the relationship between green and property value. Past research has identified tangible elements of green building that is green envelope components that have effect on residential property value. However, to present, no research has been conducted to determine the effect of both tangible and intangible green elements on residential property value. Hence, this study aims to identify the effect of tangible and intangible green elements of green residential building on property value. 96 questionnaires were distributed among the professionals and were analyzed using frequency analysis. Tangible green envelope components including green roof, solar water heating, light pipe, solar photovoltaics, green wall, light shelf, and sustainable timber have positive effect on property value. Meanwhile, intangible green elements namely proximity of green residential building to basic amenities and public transportation which less than 500m and 750m are proven to increased property value. This research significantly explores the valuation field and contributes to new knowledge in valuing green properties. |
| Keywords: | Green Building; Green Building Index (GBI); Green Components; Intangible; Tangible |
| JEL: | R3 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:lre:wpaper:lares-2021-4dqh&r= |
| By: | Julia M. Puaschunder (The New School, Department of Economics, Eugene Lang College, New York, NY 10003, USA) |
| Abstract: | The external shock of the novel Coronavirus SARS-CoV-2 has profound impacts around the world for this generation and the following. Although accounting for the most drastic societal shift in modern history, the Coronavirus pandemic also holds the potential of a Great Reset. This paper addresses three trends that have become prevalent in the wake of the Coronavirus pandemic: (1) A rising inequality experienced has led to demands for Corporate Social Justice, namely the corporate engagement in social justice initiatives and action. (2) The finance world has had opportunities to diversify and exchange COVID-struck industries for COVID-profiting market segments and therefore a rising financial market performance versus real economy budget constraint gap has arisen. (3) Governments around the world are pegging economic COVID-19 rescue and recovery aid to pursue noble goals – such as climate change abatement and a transitioning to renewable energy in the United States Green New Deal and the European Green Deal and the European Sustainable Finance Taxonomy. These trends point at the integration of environmental, social and corporate governance in the corporate sector. The aftermath of the crisis is now a time for a great system reset to integrate environmental, social and corporate governance in the corporate and finance sectors. Future economic policy research may be inspired by legal expertise on disparate impact. With respect for current trends of citizen scientists and science diplomacy, public policy work may embrace environmental, social and corporate governance whole-roundedly. While natural behavioral laws were guiding anchors to address inequality during a turbulent time of the pandemic, more rational behavioral insights could nudge people into more equitable growth strategies in a recovering world. |
| Keywords: | Change management, Corporate Social Justice, Coronavirus, Corporate sector, COVID-19, Disparate impact, Environmental, European Green Deal, Social and Corporate Governance (ESG), Equitable Growth, Equality, Equity, Finance, Great reset, Green New Deal, Law and economics, Pandemic, Public policy, Recovery |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:lpaper:0099&r= |
| By: | Mario Holzner (The Vienna Institute for International Economic Studies, wiiw); Katharina Weber; Muhammad Usman Zahid; Maximilian Zangl |
| Abstract: | In a study published in 2018 the Vienna Institute for International Economic Studies (wiiw) proposed the construction of a ‘European Silk Road’ encompassing a high-speed railway (HSR) network for Europe. To compliment the economic feasibility analysis by wiiw, this report aims to determine the environmental impact of the suggested northern core route – from Lyon to Moscow – by focussing on the net greenhouse-gas emissions, in CO2-eq.. The study uses a life cycle assessment (LCA) for the analysis of construction, maintenance, operation, and disposal of the HSR, to provide an estimate of how many tons of CO2-eq. can be saved over the span of 60 years. In generating a modal shift from road and air transport, the construction of an HSR line provides the potential for saving up to 10% of net CO2-eq. emissions in the EU27 for one year. Thus, the proposed high-speed line contributes to the current targets and goals of the European Union to reduce emissions and present smart, sustainable and inclusive economic solutions. |
| Keywords: | Infrastructure, Transport, High Speed Rail, Environmental Effects |
| JEL: | H54 R42 L92 Q51 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:wii:rpaper:rr:459&r= |
| By: | Olivier Chanel (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique - AMU - Aix Marseille Université); Stéphane Luchini (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique - AMU - Aix Marseille Université); Jason Shogren (UW - University of Wyoming) |
| Abstract: | We propose a structural econometric model that incorporates altruism towards other household members into the willingness to pay for a public good. The model distinguishes preferences for public good improvements for oneself from preferences for improvements for other household members. We test for three different types of altruism - ‘pure self-interest', ‘pure altruism' and ‘public-good-focused non-pure altruism'. Using French contingent valuation data regarding air quality improvements, we find positive and significant degrees of concern for children under the age of 18, which are explained by determinants related to health and subjective air quality assessment. All other forms of pure or air-quality-focused altruism within the family are insignificant, including for children over 18, siblings, spouses, and parents. This result suggests that benefit estimates that do not consider altruism could undervalue improvements in air quality in France. |
| Keywords: | air pollution,familial altruism,field experiment,contingent valuation,willingness to pay |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03180465&r= |
| By: | Wasiu O. Abimbola (Department of Economics, Federal College of Education, Nigeria) |
| Abstract: | The role of the Nigerian military in ensuring smooth operation and exportation of crude oil cannot be overemphasized. This is owing to the fact that the chunk of Nigeria’s foreign exchange earnings comes from crude oil exportation. Boris (2015) confirms that oil is arguably the livelihood of the modern economy and it has now become the most essential commodity in the world. It is a statement of the fact that oil revenue is the major source at which governments at all levels in Nigeria finance their budgets. This is why the Nigerian military would leave no stone unturned in protecting the nation’s source of living. However, while some scholars believe military expenditure plays a positive role in the economies of developing countries, others view the role as detrimental. One of the reasons why the analysis of military expenditure has not led to a conclusive result might be due to the non-identification of the correct channel. Investigating the role of the military sector on economic growth via the Nigeria oil sector may therefore be a good channel of analysis. Therefore, this paper tries to mainly investigate the joint nexus between military expenditure and oil revenue, and economic growth in Nigeria. To achieve this, time series data were gathered and analyzed using OLS technique with the aid of EVIEWS 10 package. The model used included a joint-interactive term. The result of the analysis reveals that military expenditure is individually statistically and significantly positive with economic growth. Though, as a joint interactive term with oil revenue, it is negatively statistically insignificant but this might be due to the oil revenue being individually statistically insignificant. The study, therefore, recommended military expenditure as one of the factors the Nigerian government should employ in influencing her economic growth. |
| Keywords: | Defense Spending, military expenditure, oil revenue, economic growth |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:smo:lpaper:0128&r= |
| By: | Echeverría, Lucía; Gimenez-Nadal, J. Ignacio; Molina, José Alberto |
| Abstract: | Mobility gives individuals access to different daily activities, facilities, and places, but at the cost of imposing environmental burdens. The sustainable growth of society is linked to green mobility (e.g., public transport, walking, cycling) as a way to alleviate individual carbon footprints. This study explores the socio-demographic profile of individuals performing green travel (public and physical modes of transport) and identifies cross-country differences in green travelling behavior. We rely on information from the Multinational Time Use Study, MTUS. for Bulgaria, Canada, Spain, France, Hungary, Italy, the Netherlands, the United Kingdom, and the United States, from 2000 to 2019. We estimate Ordinary Least Squares regressions modelling individual decisions regarding green mobility. Our results indicate that the socio-demographic and family profile of travelers is not homogenous across green modes of transport, with physical travel exhibiting a much more consistent profile, across countries, in comparison to the use of public transport. Results indicate a positive relationship between living in urban areas and the time proportion of green travel, but estimates by country differ in magnitude and depend on the mode. We also find that some countries are more prone to green travel, and that transport infrastructure is more related to the proportion of time travelled by physical transport than by public transport. Our findings help in understanding who is committed to green mobility, while revealing systematic differences across countries that are worth analyzing. |
| Keywords: | Perfil del Viajero; Medios de Transporte; Transporte No Motorizado; Transporte Público; |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:3570&r= |
| By: | Tanya Suhoy (Bank of Israel); Maayan Tropper-Wachtel (Bank of Israel) |
| Abstract: | In this paper, we attempt to quantify the impact of climate change on future electricity demand in Israel, based on CORDEX-AFRICA high-resolution climate simulations made under two Representative Concentration Pathway scenarios (hereinafter: RCP 4.5 and 8.5), and further downscaled by the Israeli Meteorological Service (hereinafter: IMS) with regard to location of Israeli meteorological stations. We provide first estimates of this impact by comparing load forecasts based on RCP 4.5 and 8.5 with their counterparts based on historically observed temperatures, properly bootstrapped under an assumption of no warming trend. We employ two methodological approaches: the first is based on dose-response functions and allows us to estimate the relationship between daily peak loads and daily maximum temperatures in a form comparable across countries. This provides evidence of a higher sensitivity of Israeli peak loads to rising temperatures compared to hot areas in other developed countries, such as Texas or the Australian states. The second approach employs an hourly-load econometric model for Israel. With the present sensitivity level, we predict an increment of 2.5%/4.1% in Israeli summer daily peak loads toward 2050, and 5.3%/11.6% by the end of century under RCP 4.5/8.5 relative to the baseline scenario, which does not assume global warming. According to the hourly model, the expected effect on summer daily peak loads is more significant than on average daily loads. For winter months, we predict a negative effect on daily peak loads, gradually reaching 3.0%/5.0% by the end of century under RCP 4.5/8.5. We also show that future annual maximum loads are likely to come from the summer months. Using temperature simulations downscaled by different IMS stations, we evaluate regional patterns of climate change impact and map spacial effects relative to the country mean. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:boi:wpaper:2021.17&r= |
| By: | ITF |
| Abstract: | This report assesses the potential of zero carbon supply chains via a case study of the freight transport chain linked to the port of Hamburg. It analyses the initiatives taken by selected main stakeholders to decarbonise freight transport. In addition, it offers recommendations on how the move towards zero carbon supply chains could be accelerated. |
| Date: | 2021–06–28 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:91-en&r= |
| By: | Michael L. Anderson; Minwoo Hyun; Jaecheol Lee |
| Abstract: | Though air-quality alert systems (AQAS) cover more than 1.7 billion people worldwide, there has been little welfare analysis of these systems. This paper presents a theoretical framework for deriving lower bounds on the net benefits of an AQAS and applies it to a South Korean system currently covering over 51 million people. Estimating a regression discontinuity design, we find that an alert issuance reduced youth respiratory expenditures by 30% and adult cardiovascular expenditures by 23%. The overall system reduced externalized health expenditures by 28.6 million dollars during 2016–2017, with a minimum benefit-cost ratio of 7.1:1. Including dynamic impacts of alerts increases the minimum benefits (benefit-cost ratio) to 36.7 million dollars (9.2:1). Our findings imply that the AQAS generates significant net benefits and suggests that manipulation of air quality data, which has been observed in other contexts, may negatively impact social welfare. |
| JEL: | I12 I18 Q53 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29637&r= |
| By: | Orsatti, Gianluca; Quatraro,Francesco; Scandura, Alessandra (University of Turin) |
| Abstract: | This paper studies the entry of regions in new green technological specializations, specifically investigating the role of local recombinant capabilities and the involvement of academic inventors in patenting activities, as well as the interplay between the two. We test our hypotheses on a dataset of Italian NUTS 3 regions over the period 1998-2009. The results show that both recombinant capabilities and the presence of academic inventors are positively associated to new entries in green technological specializations, and that their interaction provides a compensatory mechanism in regions lacking adequate novel combinatorial capabilities. The findings of this work are relevant for policy makers involved in the elaboration of successful regional specialization strategies in green technological domains. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:uto:dipeco:202119&r= |
| By: | Shu Guo (Tianjin University); ZhongXiang Zhang (China Academy of Energy) |
| Abstract: | With the appearance of “wellbeing stagnation”, the Chinese government has gradually realized the negative impact of increasingly severe environmental problem on people’s wellbeing, and has then has formulated a series of environmental policies. Based on the balanced panel data from2014 to 2018 from China Family Panel Studies (CFPS)and by means of the fixed effects model, we analyze the relationships between heterogeneous environmental regulations (ERs) and subjective wellbeing (SWB) from the perspective of diligent governance. Our results show that command-control environmental regulation (CER) and voluntary environmental regulation (VER)have positive effects on SWB, but there exist the heterogeneity effects in the links between ERs and SWB. Vulnerable populations, including those with rural hukou, less educated, have paidmore attention to VER, whereas the view of other groups is the opposite. Similarly, the people with low incomes or living in economically underdeveloped areas or western region, are sensitive to VER, while the others only pay attention to CER.The SWB of those with better health can be enhanced by CER, and the SWB of those with poor health are unaffected by CER and VER.Further channel analysis illustrates that CER can improve SWB by increasing people’s evaluation of the government, while VER cannot. Our results imply that the people would place more weight on environmental governance as their income rises, and can help the government institute more flexible environmental policies to improve people’s wellbeing. |
| Keywords: | Subjective wellbeing, environmental regulations, heterogeneity, balanced panel data, China |
| JEL: | Q53 Q56 O13 R11 P28 H11 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2021.31&r= |
| By: | John M. Crespi (Center for Agricultural and Rural Development (CARD) at Iowa State University); Stéphan Marette |
| Abstract: | While there is much discussion about the need for viable carbon credit markets with well-defined credible certification, there is also a need to consider the impacts of the costs of certification on the structure of those markets. This policy brief provides background to the consideration of how certification costs might influence the industrial structure of the certification industry and how firms compete with each other. |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:ias:cpaper:22-pb37&r= |