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on Environmental Economics |
| By: | Sharif, Arshian; Iqbal Godil, Danish; Xu, Bingjie; Sinha, Avik; Abdul Rehman Khan, Syed; Jermsittiparsert, Kittisak |
| Abstract: | Ascertaining sustainable development is a major issue across the globe, and the economic growth pattern achieved is a predominant reason behind this. The globalization-led economic growth achieved by the emerging economies might not be ecologically sustainable, as globalization might not have been utilized as a policy tool. Moreover, a sound policy calls for considering the entire data spectrum for the analysis, which is largely ignored in the literature. This research contributes to the literature by proffering a policy framework for the emerging economies by analyzing the impact of globalization and tourism on environmental degradation, by considering the Chinese context as a sample. Following the quantile autoregressive distributed lag model, the impact of economic growth, globalization, and tourism on greenhouse gas emissions, carbon dioxide emissions, and the ecological footprint in China over 1978Q1-2017Q4 are analyzed. The results demonstrate that economic growth stimulates environmental degradation, while the presence of Environmental Kuznets Curve is also validated. Moreover, tourism has been found to exert positive environmental externalities, while globalization exerts negative environmental externalities. Based on the outcomes of the research, a comprehensive policy framework has been suggested, following which the Chinese economy might be able to attain the objectives of Sustainable Development Goals 7, 8, and 13. |
| Keywords: | Tourism; Globalization; EKC; China; QARDL |
| JEL: | L83 Q5 Q53 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101156&r=all |
| By: | Manisha Jain (Indira Gandhi Institute of Development Research) |
| Abstract: | India is striving to achieve its climate mitigation goal of reducing the greenhouse gas (GHG) emission intensity of the economy by 33-35 by 2030 from 2005 levels. The energy-related carbon dioxide (CO2) emissions are more than three-fourth of the total GHG emissions in the country. The drivers of energy-related CO2 emissions are often analysed to help countries track their climate change mitigation goals. There is limited evidence on the factors driving changes in India's emissions in the past two decades. In this study, the drivers of change in India's energy-related CO2 emissions during 1990-2017 are examined using index decomposition technique under the Kaya identity framework. The trends in the Kaya factors show decarbonisation of India's economic output during 1990-2017, mainly driven by decoupling between economic growth and energy consumption. The decarbonisation of the energy supply is not found to be significant during the study period. Decomposition analysis of annual changes shows a positive contribution of population and income in the change in emissions during the entire study period. In some of the years of low economic growth, the energy intensity effect contributed to the increase in emissions. The decomposition analysis of aggregate changes shows that net increase in emissions during 1990-2005 is not significant due to offset by energy intensity effect. The emissions increased sharply during 2005-2010 due to a positive contribution of energy intensity effect. The net increase in emissions during 2010-15 and 2015-17 is low again due to the offset by energy intensity effect. |
| Keywords: | Energy-related CO2 emissions, Kaya identity, Index decomposition analysis, Log Mean Divisia Index |
| JEL: | Q40 Q50 |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:ind:igiwpp:2020-019&r=all |
| By: | Tancrède Voituriez (Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement, IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris, WIL - World Inequality Lab) |
| Abstract: | In 2015, the world nations agreed to tackle the "two greatest challenges of our century" to paraphrase Nick Stern (2009) – namely growing inequality and climate change. They signed up the Agenda 2030 and endorsed its 17 sustainable development goals (SDGs), thereby committing to shift development patterns towards sustainable paths. The same year, the Paris Agreement on climate change was celebrated as a breakthrough in environmental governance, marking a watershed between an old world suffocating under fossil-fuel pollution, and a green new world matching the economic aspiration of a growing world middle class within a ‘safe operating space for humanity' (Steffen et al., 2015). The transition from one world to the other is not part of any handbook however, nor was it laid out in companion texts to the SDGs and the Paris Agreement. The recipe for turning coal, oil and gas into carbon-free watts and joules while curbing the seemingly irresistible rise of income and wealth inequalities seems as coveted as were alchemist formulae to turn sand into gold a few centuries ago. The practicality of the transition remains debatable, as global inequality and CO2 emissions seem stubbornly stuck to their long-term rising trend (Wid, 2018 ; Carbon Tracker Institute, 2019). To tackle the magnitude of inequality and environmental intertwined challenges, some scholars framed the concept of green welfare state or "ecostate" almost twenty years ago. They called for a transformation of the welfare state as we know it in most of OECD countries into a governance system supplying the insurance mechanisms and public goods and services to cope with environmental degradation and shocks. This paper is a quest of emerging ecostate in existing literature, and in most recent data. The first section presents a literature review on welfare state and ecostate, and on the expected transition from one to the other. In section two, we update Wood and Gough (2006) typology on welfare regimes to include the most recent available data covering income inequalities and environmental performance. We conduct an empirical multivariate analysis and come up with four distinct type of ecostates: unequal, super unequal, balanced and insecure. We focus in sections four and five on the particular case of insecure ecostates, which gathers a large share of emerging economies. Taking Nigeria as an example, we delineate the characteristics of ecostate insecurity and possible way forward, drawing on ongoing in-house research made in this country. Research gaps and bridging initiatives are hinted at in conclusion. |
| Keywords: | green welfare states,ecostates,developing countries,inequality,environment,insecurity,Nigeria,climate change adaptation |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02876972&r=all |
| By: | Helene Gomes; Coralie Kersulec; Luc Doyen; Fabian Blanchard; Abdoul Cisse; Nicolas Sanz |
| Abstract: | Marine ecosystems, biodiversity and fisheries are under pressure worldwide because of global changes including climate warming and demographic pressure. In that regard, many scientists and stakeholders advocate the use of an ecosystem approach for fisheries integrating the numerous ecological and economic complexities at play, instead of focusing on the management of isolated target species. However, the way to operationalize such an ecosystem approach remains challenging, especially from the bioeconomic viewpoint. To achieve this, here we propose a model of intermediate complexity (MICE) relying on multi-species and multi-fleets dynamics. The model also takes into account climate change through a model of envelope for the biological growth of the fish species depending on the sea surface temperature. The model is calibrated for the small-scale fishery in French Guiana using time series of fishing landings and efforts from 2006 to 2018. From the calibrated model, we consider the business as usual (BAU) fishing intensity projection along with RCP climate scenarios derived from IPCC at the horizon 2100 in order to explore the impact of climate change on the ecosystem dynamics and on the fishery production. The results point out the detrimental impact in the long run of both climate change and ecological competition on fish biodiversity. The situation is particularly catastrophic in the pessimistic climate scenario as the results suggest the collapse of both biodiversity and fishing activities by 2100. |
| Keywords: | Marine biodiversity; Multi-species; Multi-fleet fishery; Models of Intermediate Complexity (MICE); Climate change; Exclusion principle |
| JEL: | Q22 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:grt:bdxewp:2020-13&r=all |
| By: | López-Feldman, Alejandro; Chávez, Carlos; Alejandra Vélez, María; Bejarano, Hernán; B. Chimeli, Ariaster; Féres, José; Robalino, Juan; Salcedo, Rodrigo; Viteri, César |
| Abstract: | COVID-19 is currently having major short run effects with possible serious long run implications for the environment and the management of natural resources in Latin America. In this paper, we discuss the possible effects of the pandemic on air pollution, deforestation and other relevant environmental dimensions across the region. With contributions from environmental economists from eight countries, we give an overview of the initial and expected environmental effects of this health crisis. We discuss potential effects on environmental regulations, possible policy interventions, and an agenda for future research for those interested in the design and evaluation of environmental policies relevant for the Latin American context. |
| Keywords: | Air pollution; COVID-19; coronavirus; deforestation; environmental impacts; environmental policy; Latin America; pandemic; SARS-Cov2-19 |
| JEL: | R10 |
| Date: | 2020–07–15 |
| URL: | http://d.repec.org/n?u=RePEc:ris:nereus:2020_004&r=all |
| By: | Zameer, Hashim; Yasmeen, Humaira; Zafar, Muhammad Wasif; Waheed, Abdul; Sinha, Avik |
| Abstract: | The objective of this paper is to explore the nexus of innovation-environment and economic growth in the context of the Indian economy. To achieve the study objective, we explored the role of technological innovation, FDI, trade openness, energy use and economic growth toward carbon emissions. Using the data of 1985-2017, the study employed ARDL bound testing and VECM methods to capture the effects of technological innovation, trade openness, FDI, energy use and economic growth on CO2 emissions. Empirical estimation has confirmed the existence of long-run cointegration. Similarly, in the long-run, it is found that trade openness, energy use and economic growth positively reinforce CO2 emissions. In contrast, technological innovation and FDI negatively reinforce CO2 emissions in the long-run. Further, VECM indicate that the relationship among innovation, trade openness, and energy use is bidirectional in the long-run. Whereas, unidirectional relation has been found that is coming from GDP to carbon emissions, FDI, innovation, trade, and energy use. In the short-run, unidirectional link found which is coming from FDI, innovation, and energy use to carbon emission. However, the association between emissions and trade openness is bidirectional. The conclusions put-forward policy implications that innovation is a way to reduce environmental degradation. |
| Keywords: | Innovation; trade; CO2 emissions; growth; environment |
| JEL: | Q5 Q53 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101323&r=all |
| By: | Sandra Gschnaller |
| Abstract: | I extend the reduced Greenland ice sheet (GIS) model-module of DICE-GIS (Nordhaus, 2019) by integrating snow-albedo feedback (SAF) and potential tipping of the ice sheet into the resuming DICE-GIS SAF model. This novel model extension allows to quantify the social cost of carbon (SCC) more precisely because the economic damages are not only related to intensified sea level rise, but also an accelerated increase in global temperature. Accounting for the SAF raises the SCC from 274.92 to 319.67 $/tCO2 in 2100, an increase of 16.3%. The temperature increase is the key channel through which the SAF impacts the SCC. |
| Keywords: | Social cost of carbon, climate change, Greenland ice sheet, snow albedo feedback, tipping |
| JEL: | O13 Q15 Q58 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ifowps:_332&r=all |
| By: | Lucas, Sterenn; Soler, Louis-Georges; Irz, Xavier; Gascuel, Didier; Aubin, Joël |
| Abstract: | In the context of climate change, the diet is a key driver of environmental impacts. Previous research emphasized the environmental benefit to increase fisheries and aquaculture products (FAPs) consumption in European diets. However, increasing the share of FAPs could lead to a transfer of environmental damage from earth to sea. It is thus important to evaluate the environmental impacts of FAPs considering marine eco-systems and global scale. We constructed an original database to map the origin of FAPs, and we matched it with environmental indicators. The exploration of the database investigates the environmental impact of FAPs in regards of French consumption. We found some heterogeneity across species, meaning that the pattern of consumption across the FAPs does influence the environmental footprint. Furthermore, the choice of methods of production largely affects the global impact. Thus, relevant public policy could decrease the environmental impact of FAPs despite a standstill level of consumption. |
| Keywords: | Environmental Economics and Policy, Resource /Energy Economics and Policy |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:ags:inrasl:304142&r=all |
| By: | van den Bijgaart, Inge (Department of Economics, School of Business, Economics and Law, Göteborg University); Rodriguez, Mauricio (Dept of Economics, Universidad del Rosario) |
| Abstract: | Despite ambitious climate goals and already substantial stocks of developed fossil en- ergy reserves, development of new fossil energy reserves continues to be high. This raises concerns, as it reinforces the fossil industry’s opportunities and incentives to continue ex- traction, and may necessitate abandonment of developed fossil reserves to meet climate targets. In this paper, we analyze the energy transition, considering fossil exploration and development activities. We provide conditions for when the fossil industry will abandon reserves, and establish that continued exploration of fossil resources is not incompatible with abandoning developed reserves. The first-best implementation of a carbon budget al- ways involves reserve abandonment, and thus exploration that pushes developed reserves in excess of the remaining budget. A quantitative assessment reveals that a volume equal to 9-19% of current oil and gas reserves are optimally abandoned, and that, even under a 1.5◦C warming target, positive exploration of new reserves is justified for another decade. |
| Keywords: | carbon budget; energy transition; fossil exploration; nonrenewable resources; renewable energy; stranded assets |
| JEL: | Q21 Q31 Q35 Q54 Q58 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:gunwpe:0789&r=all |
| By: | Christoph Boehringer; Knut Einar Rosendahl (Norwegian University of Life Sciences, Ås / Norway, and Statistics Norway, Oslo / Norway) |
| Abstract: | Several European countries have decided to phase out coal power generation. Emissions from electricity generation are already regulated by the EU Emissions Trading System (ETS), and in some countries like Germany the phaseout of coal will be accompanied with cancellation of emissions allowances. In this paper we examine the consequences of phasing out coal, both for the broader economy, the electricity sector, and for CO2 emissions. We show analytically how the welfare impacts for a phaseout region depend on i) whether and how allowances are canceled, ii) whether other countries join phaseout policies, and iii) terms-of-trade effects in the ETS market. Based on numerical simulations with a computable general equilibrium model for the European economy, we quantify the economic and environmental impacts of alternative phaseout scenarios, considering both unilateral and multilateral phaseout. We find that terms-of-trade effects in the ETS market play an important role for the welfare effects across EU member states. For Germany, coal phaseout combined with unilateral cancellation of allowances is found to be welfare-improving if the German citizens value emissions reductions at 65 Euro per ton or more. |
| Keywords: | coal phaseout, emissions trading, electricity market |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:old:dpaper:430&r=all |
| By: | Philip McCann; Luc Soete (University of Sheffield Management School) |
| Abstract: | The new Commission has made "sustainable development", together with the digital agenda, the core element of its overall growth strategy for the present decade. From a global perspective the European Green Deal (European Commission 2020a,b) represents on the one hand the EU's contribution to the Sustainable Development Goals (SDGs) – Europe's Moonshot mission of the 21st Century – and on the other hand the EU's "smart specialization strategy" – Europe's attempt to develop at world level a leading position in sustainable development. The Paris Convention provides from this perspective the overall European framework for national, regional and local city commitments with the EC designing and organizing the accompanying financial and regulatory incentive schemes (such as the climate pact, the Green Deal investment plan and the Just Transition fund, the necessary reforms in the European semester, etc.). Viewing the European Green Deal as a combination between a European 21st Century "Moonshot mission" and an internal, "smart specialization strategy" raises though also many, new challenges as to the respective governance responsibilities of the different actors. In this short paper, we present some first reflections on the way insights from science, technology and innovation studies on the one hand and regional studies on the other could help in the design of "green deal" policies at European, national and regional/urban level and pulled together provide an intellectual framework for multi-level governance. Such "science for policy" reflections can serve as basis for more in depth discussions between EU policy makers as well as research scholars in the academic community. In a first section, we first review some of the arguments as to why the European Green Deal represents today primarily an innovation-led development strategy for Europe. We describe how historically the new EGD strategy represents a re-arranging of priorities, making sustainable development as the overriding strategic priority: the opportunity for Europe to position itself globally and locally as green specialisation area through innovation. Second and more specifically at the governance level, the new EGD strategy raises several crucial multi-level governance challenges. Players who were not really at the centre of the European integration process such as regions; or totally absent, such as cities and communities are now likely to play a crucial role. We claim that an effective innovation-driven policy with a directionality requires a proper division of tasks between the EC, national and regional/local governance levels. Third, we focus on how to detect and overcome possible trade-offs involved in prioritizing such a green development strategy compared to the more traditional objective of smart growth as put forward in the previous EU strategies. Through a more explicit recognition and analysis of these trade-offs, we believe a better framework can be sketched for the real, new growth opportunities linked to the Green Deal. In the second section of the paper, we discuss in more detail each of the relevant challenges and trade-offs facing different types of regions in their movements towards the goals of the Green Deal and the issues which will need to be explicitly considered in the appropriate design of regional policy schemes. Second, we address the particular role cities might play in this process. Contrary to many other regions in the world, Europe's population is heavily urbanized with cities accounting for the majority of carbon production and consumption-related emissions. This observation provides again greater opportunities for targeted interventions aimed at enhancing sustainability. For the Green Deal to be embraced locally throughout Europe it will be essential to engage all cities and regions across the EU. We argue that the accumulated experience of smart specialization strategies is very valuable in this context, but that these will need to take the next step embracing transformative innovation for systemic transitions, reaping the opportunities and alleviate the threats of the global ecological and digital transitions. We make some concrete proposals, what we call "learning modules" on how this could be done. In a third section, we address the need for a continuous "science for policy" approach, particularly in case of a radically new strategic policy framework such as the European Green Deal. The implementation and design of the European Green Deal would benefit, we argue from a Science for Policy Platform on Place-based innovation for Sustainability. This platform could both support local actors and channel findings on local innovation barriers or early trade-off alerts to the EU and national policy making. |
| Keywords: | sustainability, innovation |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc121271&r=all |
| By: | Bärd Harstad (University of Oslo and the Frisch Centre.); Francesco Lancia (Università di Salerno, CSEF and CEPR.); Alessia Russo (BI Norwegian Business School and CEPR.) |
| Abstract: | We characterize the optimal policy and policy instruments for self-enforcing treaties when countries invest in green technology before they pollute. If the discount factor is too small to support the first best, then both emissions and investments will be larger than in the first best, when technology is expensive. When technology is inexpensive, countries must instead limit or tax green investment in order to make future punishment credible. We also uncover a novel advantage of price regulation over quantity regulation, namely that when regulation is sufficiently flexible to permit firms to react to non-compliance in another country, the temptation to defect is reduced. The model is tractable and allows for multiple extensions. |
| Keywords: | climate change, environmental agreements, green technology, policy instruments, repeated games, compliance, self-enforcing treaties. |
| JEL: | D86 F53 H87 Q5 |
| Date: | 2020–07–22 |
| URL: | http://d.repec.org/n?u=RePEc:sef:csefwp:572&r=all |
| By: | OECD |
| Abstract: | Healthy ecosystems, and their associated services, can provide effective natural protection against water-related climate risks. Nature-based solutions (NbS) have recently gained momentum in international policy discussions due to their potential to foster synergies between ecosystem health and human wellbeing, while also offering economic benefits. This paper provides an overview of the use of NbS to date in OECD countries and finds that in most cases ambition for NbS does not match practice. Focusing on the application of NbS for addressing climate-related flood and drought risks, this paper explores why prevailing decision making frameworks may fail to adequately consider NbS. It sets out a policy evaluation framework that supports the identification of, and proposed ways to address constraints on the use of NbS to address water-related climate risks. |
| Date: | 2020–07–29 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaac:21-en&r=all |
| By: | Volker, Jamey M B |
| Abstract: | Changes are coming to housing development and demand in California. The state’s sprawling development patterns have come under increasing scrutiny as the state struggles to reduce its greenhouse gas emissions, abate a decades-long housing supply and affordability crisis, and meet the needs of the largest generation in American history – the millennials (Generation Y). In this dissertation, I explore three ways in which residential development and demand in California could change going forward. In my first study (Chapter 2 of this dissertation), I investigate how an upcoming change in California’s project-level environmental review law (the California Environmental Quality Act or CEQA) could affect the approval process for urban development. The state recently mandated that local, regional, and state agencies must replace “level of service” (LOS) with vehicle miles traveled (VMT) as the primary measure – and basis for mitigation – of transportation impacts under CEQA by July 1, 2020. I use a historical counterfactual approach to assess how replacing LOS with VMT could have impacted the approval process for 153 land development projects over 16 years in the City of Los Angeles. I find that most projects could have qualified for at least some environmental review streamlining under the VMT-based framework recommended by the state, including over 75 percent of residential-containing projects. My results suggest that swapping LOS for VMT could reduce the environmental review burden for development in urban areas and provide some of the approval process streamlining necessary to increase housing production in California. And because the streamlined development would be in areas characterized by lower VMT per capita than the regional average, it would likely contribute to reducing VMT per capita in line with state targets. In my second study (Chapter 3 of this dissertation), I look at accessory dwelling units (ADUs). How much ADUs can help with California’s housing supply and affordability crises depends on the homeowners who do not yet own one – their willingness and ability to build an ADU will determine the ceiling for ADU construction. I use a survey of 502 single-family homeowners in the Sacramento metropolitan area to investigate homeowners’ willingness to consider building an ADU, and the motivations and barriers they face. I find that as many as 54.1% of Sacramento city single-family detached homeowners could either have an ADU or be open to creating one. Familiarity with ADUs has the strongest association with openness to building an ADU in my logistic regression model. And homeowners’ top-ranked motivation for creating an ADU is housing family or friends. Cost-related concerns ranked as the biggest obstacles to creating an ADU, followed by permitting and regulatory issues. My findings suggest that ADUs have significant potential to help California close its housing supply gap. In my third study (Chapter 4 of this dissertation), I explore how millennials – people born between 1982 and 2000 – choose where to live. Surveys suggest that millennials have a stronger preference than previous generations for urban amenities. But studies also indicate that most millennials will eventually settle in a suburb. That raises big questions for urban planners and policymakers, as well as for the future of sustainable urbanism. If most millennials will end up suburbanizing, what happens to their erstwhile preferences for urban amenities? Do they seek out suburban neighborhoods with urban amenities? Do their preferences simply change with time and major life events? I use in-depth interviews of 20 households who recently purchased homes in the San Francisco Bay Area to explore how millennials choose where to live when they reach the life cycle stages typically associated with bigger homes in suburban areas. I find that life cycle effects emerged in different ways for the households I interviewed. As they partnered and began having or thinking about having children, most households suburbanized or planned to suburbanize in the future. The households still valued urban amenities, but they generally did not prioritize urban amenities when searching for their suburban homes, with one exception – proximity to commuter transit. |
| Keywords: | Arts and Humanities, vehicle miles traveled, housing, environmental review, accessory dwelling units, planning |
| Date: | 2020–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt6p94s5mc&r=all |
| By: | Brendan Casey; Wayne B. Gray; Joshua Linn; Richard D. Morgenstern |
| Abstract: | Pricing carbon emissions from an individual jurisdiction may harm the competitiveness of local firms, causing the leakage of emissions and economic activity to other regions. Past research concentrates on national carbon prices, but the impacts of subnational carbon prices could be more severe due to the openness of regional economies. We specify a flexible model to capture competition between a plant in a state with electric sector carbon pricing and plants in other states or countries without such pricing. Treating energy prices as a proxy for carbon prices, we estimate model parameters using confidential plant-level Census data, 1982–2011. We simulate the effects on manufacturing output and employment of carbon prices covering the Regional Greenhouse Gas Initiative (RGGI) in the Northeast and Mid-Atlantic regions. A carbon price of $10 per metric ton on electricity output reduces employment in the regulated region by 2.7 percent, and raises employment in nearby states by 0.8 percent, although these estimates do not account for revenue recycling in the RGGI region that could mitigate these employment changes. The effects on output are broadly similar. National employment falls just 0.1 percent, suggesting that domestic plants in other states as opposed to foreign facilities are the principal winners from state or regional carbon pricing. |
| JEL: | Q4 Q52 Q58 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:20-21&r=all |
| By: | Cecilia Bellora (CEPII - Centre d'études prospectives et d'informations internationales); Lionel Fontagné (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics) |
| Abstract: | The new European Commission has announced policies to reduce greenhouse gas emissions drastically. Reaching an ambitious target for a global good – the climate – would require a common price for carbon worldwide. This however clashes with the free-riding problem. Furthermore, unilateral policies are not efficient since they lead to carbon leakages and distort competitiveness. To tackle these issues, the European Union can rely on different policies. Firstly, a carbon pricing of imports can combined with an export rebate to constitute a ‘complete CBA' (Carbon Border Adjustment) solution. Alternatively, a simple tariff at the border can compensate for differences in carbon prices between domestic and imported products. A consumption-based carbon taxation can al so be contemplated. Last, a uniform tariff on imports from countries not imposing (equivalent) carbon policies may help solving the free-riding problem. |
| Keywords: | Carbon Border Adjustment,Climate Change,International Trade,Tariffs |
| Date: | 2020–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:hal:pseptp:hal-02880332&r=all |
| By: | Cecilia Bellora; Lionel Fontagné (CES - Centre d'économie de la Sorbonne - CNRS - Centre National de la Recherche Scientifique - UP1 - Université Panthéon-Sorbonne) |
| Abstract: | The new European Commission has announced policies to reduce greenhouse gas emissions drastically. Reaching an ambitious target for a global good – the climate – would require a common price for carbon worldwide. This however clashes with the free-riding problem. Furthermore, unilateral policies are not efficient since they lead to carbon leakages and distort competitiveness. To tackle these issues, the European Union can rely on different policies. Firstly, a carbon pricing of imports can combined with an export rebate to constitute a ‘complete CBA' (Carbon Border Adjustment) solution. Alternatively, a simple tariff at the border can compensate for differences in carbon prices between domestic and imported products. A consumption-based carbon taxation can al so be contemplated. Last, a uniform tariff on imports from countries not imposing (equivalent) carbon policies may help solving the free-riding problem. |
| Keywords: | Carbon Border Adjustment,Climate Change,International Trade,Tariffs |
| Date: | 2020–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02880332&r=all |
| By: | Amador-Jiménez, Mónica; Millner, Naomi; Palmer, Charles; Pennington, R. Toby; Sileci, Lorenzo |
| Abstract: | The covid-19 pandemic led to rapid and large-scale government intervention in economies and societies. A common policy response to covid-19 outbreaks has been the lockdown or quarantine. Designed to slow the spread of the disease, lockdowns have unintended consequences for the environment. This article examines the impact of Colombia’s lockdown on forest fires, motivated by satellite data showing a particularly large upsurge of fires at around the time of lockdown implementation. We find that Colombia’s lockdown is associated with an increase in forest fires compared to three different counterfactuals, constructed to simulate the expected number of fires in the absence of the lockdown. To varying degrees across Colombia’s regions, the presence of armed groups is correlated with this fire upsurge. Mechanisms through which the lockdown might influence fire rates are discussed, including the mobilisation of armed groups and the reduction in the monitoring capacity of state and conservation organisations during the covid-19 outbreak. Given the fast-developing situation in Colombia, we conclude with some ideas for further research. |
| Keywords: | Covid-19; coronavirus; armed groups; Colombia; deforestation; forest fires; lockdown |
| JEL: | Q23 Q56 Q58 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:105686&r=all |
| By: | Jean-Marc Bourgeon (X-DEP-ECO - Département d'Économie de l'École Polytechnique - X - École polytechnique, ECO-PUB - Economie Publique - AgroParisTech - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | The importance of network externalities affecting technology diffusion in the greening of the economy is analyzed using a simple dynamic model. The socially optimal path of the economy can be implemented by requiring firms to comply to technical standards. As otherwise firms make investment decisions based on their expectations of the magnitude of shocks affecting network effects, using only incentive-based instruments of regulation (emissions taxes and subsidies for green investments) to green the economy leads to efficiency losses due to economic fluctuations. |
| Keywords: | Technology adoption,sustainability,Growth |
| Date: | 2020–06–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02799535&r=all |
| By: | Jean-Marc Blazy (ASTRO - Agrosystèmes tropicaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Subervie Julie (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - 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); Jacky Paul (ASTRO - Agrosystèmes tropicaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); François Causeret (ASTRO - Agrosystèmes tropicaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Loic Guinde (ASTRO - Agrosystèmes tropicaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sarah Moulla (ASTRO - Agrosystèmes tropicaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Alban Thomas (TSE - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Jorge Sierra (ASTRO - Agrosystèmes tropicaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | In this article, we provide an ex-ante assessment of the cost-effectiveness of a series of innovative Agri-EnvironmentalMeasures (AEM) that subsidize the use of compost. To do so, we ran a choice experiment in the western islands of French Polynesia where the soil organic carbon content is extremely low. The 305 farmers who participated were asked to choose one of several AEM that offer financial support in exchange for using compost in their farming activities, aswell as free technical assistance, a collective financial bonus, and the possibility of combining chemical fertilizers with composts. We found that offering free technical assistance increases the participation rate by 30 percentage points and offering a collective bonus increases it by 14 percentage points. In contrast, including a requirement on the reduction of chemical fertilization would decrease the probability of participation by only two percentage points. We then estimated the amount of carbon that would be sequestered in the soil using compost as prescribed under each of the AEM proposed. We found that the most effective AES would sequester up to 25,000 teqCO2 per ha and per year and that the most cost-effective scheme would reach this target at a cost of about 500 euros per teqCO2. Finally, we find that the so-called 4 per 1000 target could be easily reached through most cost-effective measures even if only half of the farms were enrolled in the program. |
| Keywords: | climate change,compost,soil carbon,choice experiment,Guadeloupe. |
| Date: | 2020–06–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpceem:hal-02748634&r=all |
| By: | Dorothée Brécard (LEAD - Laboratoire d'Économie Appliquée au Développement - UTLN - Université de Toulon); Mireille Chiroleu-Assouline (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Non-governmental organizations (NGOs) are exerting growing pressure on firms to eliminate product components (such as palm oil) that are harmful to the environment (such as rainforests) or replace such components with NGO-certified sustainable components. Under which conditions does NGO pressure lead firms to eliminate basic components from their products or, alternatively, substitute damaging components with certified sustainable components? What are the ensuing effects on market structure, environmental quality, and social welfare? The paper addresses these issues using a model of two-dimensional vertical product differentiation. It shows that, for an NGO that collects certification fees to accrue its budget and finance its awareness campaign, it may — paradoxically — be optimal to reduce the certified product's market share and eventually evict it. |
| Keywords: | Biofuels,NGO,Eco-label,Environmental quality,Product differentiation,Palm oil |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-02878337&r=all |
| By: | Pástor, Luboš; Stambaugh, Robert F.; Taylor, Lucian |
| Abstract: | We present a model of investing based on environmental, social, and governance (ESG) criteria. In equilibrium, green assets have negative alphas, whereas brown assets have positive alphas. The ESG investment industry is at its largest, and the alphas of ESG-motivated investors are at their lowest, when there is large dispersion in investors' ESG preferences. When this dispersion shrinks, so does the ESG industry, even if all investors' ESG preferences are strong. Greener assets are more exposed to an ESG risk factor, which captures shifts in customers' tastes for green products or investors' tastes for green holdings. Under plausible conditions, the latter tastes produce positive social impact. |
| Keywords: | ESG; social impact; Socially responsible investing; sustainable investing |
| JEL: | G11 G12 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14171&r=all |
| By: | David Coady; Ian Parry; Nghia-Piotr Le; Baoping Shang |
| Abstract: | This paper updates estimates of fossil fuel subsidies, defined as fuel consumption times the gap between existing and efficient prices (i.e., prices warranted by supply costs, environmental costs, and revenue considerations), for 191 countries. Globally, subsidies remained large at $4.7 trillion (6.3 percent of global GDP) in 2015 and are projected at $5.2 trillion (6.5 percent of GDP) in 2017. The largest subsidizers in 2015 were China ($1.4 trillion), United States ($649 billion), Russia ($551 billion), European Union ($289 billion), and India ($209 billion). About three quarters of global subsidies are due to domestic factors—energy pricing reform thus remains largely in countries’ own national interest—while coal and petroleum together account for 85 percent of global subsidies. Efficient fossil fuel pricing in 2015 would have lowered global carbon emissions by 28 percent and fossil fuel air pollution deaths by 46 percent, and increased government revenue by 3.8 percent of GDP. |
| Keywords: | Gasoline prices;Consumer subsidies;Sustainable development;Energy prices;Fossil fuels;energy subsidies,efficient taxation,revenue,environment,deadweight loss,post-tax,supply cost,global GDP,efficient price,energy subsidy |
| Date: | 2019–05–02 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2019/089&r=all |
| By: | Christopher J. Amante; Jacob Dice; David Rodziewicz; Eugene Wahl |
| Abstract: | Sea level rise will pose increased risks to U.S. coastal real estate markets in the coming decades, though the direct economic costs depend on the severity and uncertainty within climate-change scenarios. |
| Keywords: | Natural hazards; Sea-level rise; Climate risk; Climate economics; Housing market |
| JEL: | Q54 R3 |
| Date: | 2020–07–16 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedkrw:88390&r=all |
| By: | Anouk Faure; Marc Baudry; Simon Quemin |
| Abstract: | We develop an equilibrium model of emissions permit trading in the presence of fixed and proportional trading costs in which the permit price and firms’ participation in and extent of trading are endogenously determined. We analyze the sensitivity of the equilibrium to changes in the trading costs and firms’ allocations, and characterize situations where the trading costs alternatively depress or raise permit prices relative to frictionless market conditions. We calibrate our model to annual transaction and compliance data in Phase II of the EU ETS (2008-2012) which we consolidate at the firm level. We find that trading costs in the order of 10 k€ per annum plus 1€ per permit traded substantially reduce discrepancies between observations and theoretical predictions for firms’ behavior (e.g. autarkic compliance). Our simulations suggest that ignoring trading costs leads to an underestimation of the price impacts of supply-curbing policies, this difference varying with the incidence on firms. |
| Keywords: | Emissions trading, Transaction costs, Policy design and evaluation, EU ETS |
| JEL: | D22 D23 H32 L22 Q52 Q58 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2020-19&r=all |
| By: | Heinz Welsch (University of Oldenburg, Department of Economics) |
| Abstract: | The paper studies the role for climate-friendly behavior of individuals’ moral identity, conceptualized in terms of the moral foundations identified by moral psychologists (Care, Fairness, Liberty, Loyalty, Authority, and Sanctity). Two channels of influence are distinguished: a direct influence of moral identity at given cognitions of climate change impacts and effectiveness of individual action, and an indirect influence through the effect of moral identity on these cognitions. Using data from the European Social Surveys, the paper finds that endorsement of the individual-focused (universalist) moral foundations (Care, Fairness, Liberty) and endorsement of the group-focused moral foundations (Loyalty, Authority, Sanctity) both foster climate friendly behavior through the direct channel, the former 1.5 times stronger than the latter. In addition, individual-focused moral foundations enhance climate-friendly behavior by fostering the cognition of bad impacts of climate change and of effectiveness of own action. The indirect effect amounts to up to one third of the direct effect. Results suggest that climate-friendly behavior is to a considerable extent a matter of moral factors rather than consequentialist (benefit-cost) considerations. |
| Keywords: | climate-friendly behavior; moral identity; climate change cognition; moral foundations |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:old:dpaper:431&r=all |
| By: | Madhuparna Ganguly (Indira Gandhi Institute of Development Research) |
| Abstract: | This paper analyzes the implications of firms' intrinsic valuation for pro- environmental production on technology adoption and signaling outcome when adopting a costly pollution-free technology does not favour profit despite consumers' higher willingness to pay for the environment-friendly product. As growing environmental awareness makes individuals and businesses increasingly cognizant of the ramifications of their actions, acting pro-environmentally engenders feelings of contentment and boosts self-image. We find that, while under symmetric information the intrinsically motivated firm optimally adopts pollution-free production, under asymmetric information the same is true only when consumers are sufficiently generous for or incredulous regarding pro-environmental behaviour, such that signaling is feasible. Although the signaling outcome is environmentally desirable, firms face challenges in balancing environmental objectives with profit goals when information is asymmetric. We suppose post-production subsidization to buttress ethical initiatives of firms and show cost-equivalence of lumpsum and per-unit subsidy schemes. |
| Keywords: | Environmental consciousness, Intrinsic motivation, Self-image, Signaling, Technology, adoption |
| JEL: | D63 D82 D91 L21 Q52 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:ind:igiwpp:2020-021&r=all |
| By: | Marc Baudry; Anouk Faure; Simon Quemin |
| Abstract: | We develop an equilibrium model of emissions permit trading in the presence of fixed and proportional trading costs in which the permit price and firms’ participation in and extent of trading are endogenously determined. We analyze the sensitivity of the equilibrium to changes in the trading costs and firms’ allocations, and characterize situations where the trading costs alternatively depress or raise permit prices relative to frictionless market conditions. We calibrate our model to annual transaction and compliance data in Phase II of the EU ETS (2008-2012) which we consolidate at the firm level. We find that trading costs in the order of 10k€ per annum plus 1€ per permit traded substantially reduce discrepancies between observations and theoretical predictions for firms’ behavior (e.g. autarkic compliance). Our simulations suggest that ignoring trading costs leads to an underestimation of the price impacts of supply-curbing policies, this difference varying with the incidence on firms. |
| Keywords: | Emissions trading, Transaction costs, EU ETS, Policy design and evaluation |
| JEL: | D22 D23 H32 L22 Q52 Q58 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:cec:wpaper:2007&r=all |
| By: | Jaller, Miguel; Pineda, Leticia; Gueldas, Yasar; Alemi, Farzad; Otay, Irem |
| Abstract: | California is in the midst of improving its freight system. For example, the California Sustainable Freight Action Plan (CSFAP) established the goal of reaching a 25% increase in freight efficiency, the use of 100,000 zero emission vehicles and equipment (and maximize the number of near zero emission vehicles) in the system, and improving economic competitiveness. Although there are multiple strategies and approaches to help achieve these goals, this study focuses on analyzing the factors to foster the adoption of zero and near-zero emission vehicles. For example, the use of monetary and non-monetary incentives to elucidate behavioral changes (e.g., fleet purchase decisions). This study considered compressed (renewable) natural gas (CNG/RNG), hybrid electric (HE), battery electric (BE) and fuel-cell hydrogen (H2) vehicles. The research team collected information through a web-based stated preference survey sent (in two waves) to fleets and carrier companies to gather data about their economics, and their vehicle purchase preferences. However, the response rate was very small which limited the type of analyses conducted with the data. Alternatively, the study team developed a multi-criteria decision-making tool using a Spherical Fuzzy Analytical Hierarchy Process based on experts’ knowledge. The approach considered the variability in the technical and operational characteristics, market readiness, and other factors related to these technologies. The model helped provides insights about the most appropriate options for different uses (e.g., last mile, long-haul distribution). Specifically, the authors evaluate the alternatives using five criteria: economic; business, incentives & market-related; environmental & regulatory; infrastructure; and safety & vehicle performance factors. The analyses also consider twenty-one sub-criteria, e.g., total cost of ownership, payback period, brand image, financial & non-financial incentives, and public/private fueling/ charging infrastructure availability. View the NCST Project Webpage |
| Keywords: | Business, Social and Behavioral Sciences, Last mile distribution, Behavioral modeling, Zero emission vehicles, Incentive programs, Expert decision modeling |
| Date: | 2020–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt64k579cv&r=all |
| By: | Tamás Hajdu (Institute of Economics, Centre for Economic and Regional Studies, 1097 Budapest, Tóth Kálmán u. 4, Hungary); Gábor Hajdu (Institute for Sociology, Centre for Social Sciences, 1097 Budapest, Tóth Kálmán u. 4, Hungary) |
| Abstract: | We analyze the impact of in utero temperature exposure on the birth weight and prevalence of low birth weight using administrative data on singleton live births conceived between 2000 and 2016 in Hungary. We find that exposure to high temperatures during pregnancy decreases birth weight, but its impact on the probability of low birth weight is weaker. Exposure to one additional hot day (mean temperature >25°C) during the gestation period reduces birth weight by 0.5 grams. The second and third trimesters appear to be slightly more sensitive to temperature exposure than the first trimester. We project that climate change will decrease birth weight and increase the prevalence of low birth weight by the mid-21st century. The projected impacts are the strongest for newborns conceived during the winter and spring months. |
| Keywords: | birth weight; low birth weight; health at birth; temperature; climate change |
| JEL: | I10 J13 Q54 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:has:discpr:2032&r=all |
| By: | Blum, Bianca; Neumärker, Karl Justus Bernhard |
| Abstract: | The rapidly expanding corona pandemic in 2020 has largely brought the world to an economic stagnation. The impact on the environment, especially on air quality, from almost suspended air traffic, idle industry and economic lockdown is enormous, but also the economic and social consequences of the crisis. This state of stagnation hardly appears to be economically and socially sustainable. However, we should ask ourselves right now what we can learn from the situation in order to question globalization, better intercept future comparable crisis situations and take the step towards more sustainable development on an ecological, economic and social basis. The paper identifies the areas of externality management to improve environmental quality, digitalization and network expansion as well as basic income as central concepts that need to be addressed in and after the crisis. Concrete concepts are suggested and discussed at the end of the paper. |
| Keywords: | corona crisis management,basic income,environmental politics,pandemics,globalization,public policy |
| JEL: | H12 H23 H53 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cenwps:022020&r=all |
| By: | Forslid, Rikard |
| Abstract: | This paper analyzes the environmental impact of emissions related to trade and trans- portation. It is shown that transportation may in principle lower global emissions if the production sector is dirtier than the transport sector. The measure of a sector's dirtiness is related to the emissions taxes and the abatement efficiency within that sector. It is shown that a firm's abatement efficiency can be calculated from the emission-to-cost ratio times the emissions tax. Using Swedish data to rank 5-digit industries in terms of their dirtiness reveals that several production sectors have a higher dirtiness index than transportation does. |
| Keywords: | Emissions; Trade; Transportation |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14228&r=all |
| By: | Tovar Reaños, Miguel A. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:esr:wpaper:rb202013&r=all |
| By: | Shreedhar, Ganga; Mourato, Susana |
| Abstract: | This paper investigates if narratives varying the cause of the COVID-19 pandemic affects pro-wildlife conservation outcomes. In a pre-registered online experiment (N = 1081), we randomly allocated subjects to either a control group or to one of three narrative treatment groups, each presenting a different likely cause of the COVID-19 outbreak: an animal cause; an animal and human cause (AHC); and an animal, human or lab cause. We found that the AHC narrative elicited significantly greater pro-conservation policy support, especially for bans in the commercial trade of wildlife, when compared to the control group. Possible mechanisms driving this effect are that AHC narratives were less familiar, elicited higher mental and emotional engagement, and induced feelings that firms and governments are responsible for mitigating wildlife extinction. |
| Keywords: | narratives; communication; conversation; wildlife; extinction; conservation policy; environmental policy; prosocial behaviour; experiment; Covid-19; coronavirus |
| JEL: | D62 D64 D83 Q20 Q28 C99 |
| Date: | 2020–07–11 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:105297&r=all |
| By: | Korostova, Anna |
| Abstract: | This study will concentrate on the case of Turkmenistan, newly industrialized country appeared in the world map after the collapse of Soviet Union in early 90ties. Along with other countries they were engaged with the rebuilding of their new economy and the issues of waste management were set apart. In the recent years, the need to adhere to international norms in order to achieve sustainable economic development requires to consider environmental impact of the activities, including in the waste management. Recycling and waste management gained more attention in the country, but there is still a lot of work to do. The aim of this work is to provide a comprehensive overview of waste management in Turkmenistan and to provide recommendations and solutions in order to achieve sustainable development goals, adjusting the existing tools and practices to the case of this country. An increase of share of the circular economy as well as the reduction of disposed waste quantities are considered as the main goal of proposed activities. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ufzdps:52020&r=all |
| By: | Henri-Paul Rousseau |
| Abstract: | The idea of the Blue Basket was born out of a commitment to boost the Quebec economy and reduce the ecological footprint of our consumption through local purchasing, while strengthening Quebec’s e-commerce specifically. However, this Blue Basket will require much more than the publication of a directory of Quebec suppliers, and efforts have been undertaken by its proponents to better define the project. This text is intended to contribute to the reflection on the matter. Identifying whether a product or service is “Quebec made” and complex In Quebec, as anywhere else in the world, the products and services delivered on our markets are the work of designers, suppliers, manufacturers and distributors whose activities are not necessarily based in Quebec. Indeed, Quebec imports account for 49.8% of its GDP, of which 34.3% originate from foreign countries and 15.5% from other Canadian provinces. In such an environment, identifying whether a product or service is “Quebec” becomes very complex. Actually, a good or a service available on the Quebec market may, at all intermediate stages of production and distribution, include local and imported inputs. For example, would a garment made by a Quebec designer, but sewn in Vietnam be qualified? Would a sophisticated robot designed in Quebec but assembled in Mexico be eligible? Exactness is essential in this exercise, as otherwise, Quebec businesses and consumers will quickly experience too much “blue washing” to believe in the validity of the Blue Basket. A “Quebec” identification of the Blue Basket is possible through digital technologies To measure the local content of a product, equivalent to its value-added, microeconomic data should be collated on the source (local or imported) of all its inputs and their relative contribution at each stage of production and distribution of the product. By replicating this exercise for all goods and services available, it would be possible to determine which goods and services could be included in the Blue Basket. Unfortunately, such information is not collated, but it would be possible to collate it through a digitization of GST and QST. Digitizing GST and QST using traceability technologies would make it possible to determine the detailed source of goods and services, and decentralized distributed registry (blockchain) technologies would make it possible to certify their local content percentage. The digitization of both taxes would therefore be a great way to build the Blue Basket technology infrastructure. Indeed, when these technologies are implemented, the customer pays the bill including taxes, and the amount of the taxes is paid directly to tax authorities; the seller’s account is simultaneously credited with the net sale’s amount; the same applies to all suppliers for that retailer or producer. Everything is concurrent and executed via smart contracts, without any risk of fraud, and “all relevant information” is recorded. A “Quebec” identification of the Blue Basket is possible through digital technologies To measure the local content of a product, equivalent to its value-added, microeconomic data should be collated on the source (local or imported) of all its inputs and their relative contribution at each stage of production and distribution of the product. By replicating this exercise for all goods and services available, it would be possible to determine which goods and services could be included in the Blue Basket. Unfortunately, such information is not collated, but it would be possible to collate it through a digitization of GST and QST. Digitizing GST and QST using traceability technologies would make it possible to determine the detailed source of goods and services, and decentralized distributed registry (blockchain) technologies would make it possible to certify their local content percentage. The digitization of both taxes would therefore be a great way to build the Blue Basket technology infrastructure. Indeed, when these technologies are implemented, the customer pays the bill including taxes, and the amount of the taxes is paid directly to tax authorities; the seller’s account is simultaneously credited with the net sale’s amount; the same applies to all suppliers for that retailer or producer. Everything is concurrent and executed via smart contracts, without any risk of fraud, and “all relevant information” is recorded. The GST and QST digitization therefore help Revenu Québec determine the value-added, and thus the local content percentage, of the individual goods and services available from businesses collecting GST and QST in Revenu Québec’s jurisdiction. This certified content could be added to the QR Code, which also provides traceability information on the product or service available. This certified content is the instrument of the Blue Basket: a product or service 100% made from Quebec inputs would display a dark Blue Basket, and another 60% Quebec made, would carry a lighter Blue Basket. The Blue Basket would make it possible to fast-track the digital transition of our businesses, which, once digitized, will be more efficient and competitive on domestic and foreign markets. A Blue Basket that could become the cornerstone of an ecological transition strategy for Quebec Digitization also provides a significant ecological benefit that is too often ignored. Because it includes massive information on the components and origins of all inputs, in addition to manufacturing and distribution processes, it becomes possible to measure the ecological footprint of businesses. For example, we can find out how far an input is sourced, the type and amount of energy used to manufacture a good, or fuel used to distribute it, the amount of material recycled to make it, or whether it is itself recyclable. The digital revolution therefore becomes a powerful instrument for fast-tracking the ecological transition. By adding shades of green, a Blue Basket could become turquoise: a basket of ecological products and services made in Quebec! Obviously, as with any major public policy project, a cost-benefit analysis will indeed have to be completed; however, above all, it is important to understand the context of this project. This requires a cultural, organizational and financial shift, in addition to boldness, risk taking, a lot of capital and hiring of new skills. It will take several years to complete, but the project is equal to the challenges initiated by the dual digital and ecological transition. For the benefit of future generations, we must build not only physical but also digital infrastructures. |
| Keywords: | Blue Basket,Digital Transition,Ecological Transition,Quebec, |
| Date: | 2020–07–15 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirbur:2020rb-07&r=all |
| By: | Grytten, Ola Honningdal (Dept. of Economics, Norwegian School of Economics and Business Administration); Lindmark, Magnus (Umeå University); Minde, Kjell Bjørn (Western Norway University of Applied Sciences) |
| Abstract: | During the last decades several scholars have argued that environmental degradation first increases in initial phases of economic growth, and thereafter declines as economic growth enters a certain level in developed economies. This makes environmental degradation form an inverse U-shaped curve, called the environmental Kuznets curve (EKC). Environmental degradation can be measured by different proxies. This paper deals with two, i.e. energy consumption and energy intensity (EI), which again is measured as the ratio between energy consumption and GDP. The relationship of energy consumption and energy intensity to economic growth can thus, serve as tools to examine whether an EKC exists. Hence, this paper presents continuous series of energy consumption, energy intensity and gross domestic product for the Norwegian mainland economy 1835-2019. These are thereafter utilized in order to examine the possible existence of relative and absolute environmental Kuznets curves (EKC). The time series are established by drawing on available data, and annual figures for the period 1835-2019 are presented for the first time. They depict a development which reflect that EKCs exist. The paper also offers a polynomial regression model to investigate into the relationship between environmental degradation, measured by energy consumption, energy intensity and economic growth expressed as GDP per capita. It concludes there is clear evidence of both relative and an absolute EKC-relations between environmental degradation and economic growth, with 1975 as relative and 2002 as absolute turning points. |
| Keywords: | Environmental Kuznets curve; energy intensity; energy consumption; economic growth |
| JEL: | N53 N54 O11 O13 O44 Q01 Q34 |
| Date: | 2020–07–07 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:nhheco:2020_011&r=all |
| By: | Cvelbar, Ljubica Knezevic; Grün, Bettina; Dolnicar, Sara (The University of Queensland) |
| Abstract: | Changing default settings has proven to be a powerful approach to influencing consumer decisions without denying consumers the possibility of choosing freely. This is only the second study investigating the effectiveness of defaults in tourism, and the first testing also the combined effect of default changes and pro-environmental appeals in the context of changing room cleaning defaults in hotels from automatic daily cleaning (with the choice of opting out) to no daily routine cleaning (with the choice of opt-in and requesting a free room clean every day). Results from a quasi-experimental study conducted in a three-star city hotel suggest that the change in defaults significantly reduced room cleaning, with only 32% of room cleans requested on average. Adding a pro-environmental appeal to the change in defaults did not further reduce room cleaning overall, but has an effect on certain segments of hotel guests. |
| Date: | 2019–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:vb9qa&r=all |
| By: | Ajayi, V.; Dolphin, G.; Anaya, K.; Pollitt, M. |
| Abstract: | What accounts for the recent widespread slowdown in the productivity in advanced economies has remained a puzzle. One plausible explanation has been attributable to regulation, particularly anti-competitive regulations and environmental regulations. This paper focuses on the regulated energy network sectors by undertaking three sets of analysis in examining TFP in a sample of OECD countries over the period 1995-2016. First, using the growth accounting method, we find that there is a substantial productivity puzzle for the electricity and gas sectors, which exhibits a lower TFP growth than the whole economy over the period, and falls postfinancial crisis. Second, we identify the impact of regulation on productivity using a panel regression analysis. Our findings indicate that TFP levels seem weakly explained by changes to the competitive environment of the energy sector. Third, we show that energy and climate policy has negatively and significantly reduced energy sector productivity, at the same time as increasing capital input to the sector. We also find that the strength of energy and climate policy is positively correlated with lower aggregate TFP growth. |
| Keywords: | Total factor productivity, growth accounting, regulation, energy networks, climate policy |
| JEL: | D24 O47 H23 |
| Date: | 2020–07–23 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2073&r=all |
| By: | Julia Anna Bingler (Center of Economic Research (CER-ETH), ETH Zurich, Switzerland); Chiara Colesanti Senni (CER-ETH Zurich and Council on Economic Policies, Seefeldstrasse 60, 8008 Zurich) |
| Abstract: | Climate-related financial risks might have the potential to trigger the next systemic financial crisis, as recently stated by the Bank of International Settlements. In consequence, understanding these so-called Green Swan risks should be a key priority in financial decision-making and supervision. However, a systematic approach and a comprehensive theory on climate-adjusted financial risk metrics is still missing. This study is a first step to fill this gap, with a focus on transition risks. Drawing on insights from climate science, economics and finance research, we derive a set of important criteria to ensure that climate risk tools provide high quality, comparable, and decisionrelevant results. We then use a sample of 16 climate transition risk tools and conduct two lines of research: First, by aid of descriptive analysis, we assess the tools’ coverage of risk sources and financial assets, their inputs (i.e. underlying climate scenarios), and their outputs (i.e. climate-adjusted financial metrics). Second, we use the previously defined criteria for an in-depth analysis of the quality, comparability and decision-relevance of the tools. The results will be presented at the individual tool level, and at the meta level. Based on the results of our descriptive and criteria-based analysis, we derive potential next steps for tool provider, conclusions for potential tool users, and guidelines for supervisory authorities. The analysis could be used as starting point for building a comprehensive theory of meaningful climate-related financial risk indicators, aid practitioners to select the tools best suited to their needs and use cases, and inform regulatory processes on financial climate risk assessment principles. |
| Keywords: | Financial risk models, Financial pricing models, Transition risks, Climate risk tools, Climate-adjusted financial risk indicators |
| JEL: | C83 D53 D81 G12 G32 Q54 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:eth:wpswif:20-340&r=all |
| By: | Vicent Alcántara Escolano (Department of Applied Economics, Universidad Autónoma de Barcelona, 08193, Bellaterra, Spain); Emilio Padilla Rosa (Department of Applied Economics, Universidad Autónoma de Barcelona, 08193, Bellaterra, Spain); Pablo del Río González (Instituto de Políticas y Bienes Públicos, Centro Superior de Investigaciones Científicas, Calle Albasanz 26-28, Madrid, 28037, Spain) |
| Abstract: | We apply an index decomposition analysis to investigate the main drivers of CO2 emissions in the electricity generation sector in Spain over the period 1991–2017. The analysis allows us to quantify the impact of five different effects —associated with an extended version of the Kaya identity— that influence those emission trends. These effects are: the carbonisation effect, the transformation effect, the fossil intensity effect, the electricity intensity effect and the production effect. Taking into account the evolution of these emissions over the period, four subperiods are identified. The results show that the relevance of the drivers has changed over time (i.e. in the four subperiods). The fossil intensity, electricity intensity and production effects played an important role in the increase in emissions during the first half of the period, and particularly from 1999 to 2005. In contrast, the carbonisation and fossil intensity effects were the dominant drivers of the reduction in emissions between 2006 and 2010. The research allows the impact of different measures on emissions to be evaluated by considering their influence on the different effects, and suggests which sets of measures would be more effective in reducing emissions. Therefore, several policy implications are derived. |
| Keywords: | CO2 emissions; electricity generation; logarithmic mean Divisia index. |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:uab:wprdea:wpdea2005&r=all |
| By: | Philippe Bance (LC2S - Laboratoire caribéen de sciences sociales - CNRS - Centre National de la Recherche Scientifique - UA - Université des Antilles) |
| Date: | 2019–10–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02613912&r=all |
| By: | Magontier, Pierre |
| Abstract: | While natural hazards have never been so frequent in modern history, the political economy of disaster preparation remains largely understudied. To prepare for natural disasters, local governments can adopt mitigation measures (e.g., infrastructure elevation, retrofitting, shelter construction, etc.). However, in doing so, there is a trade-off between risk reduction and risk disclosure as these initiatives may signal latent dangers of a place to unsuspecting homebuyers. Increased media coverage may ease this trade-off by revealing these dormant risks. I develop a measure of newspaper coverage of storms using data on newspapers’ circulation and the occurrence of storms at the ZIP code level in the United States. Using the variation in this measure, I identify the effects of heightened media attention on local governments’ mitigation efforts under the Hazard Mitigation Grant program managed by FEMA. I find that when newspaper coverage is high, jurisdictions that have experienced severe storms tend to implement significantly more mitigation projects. Conversely, when coverage of storms is low, jurisdictions do not undertake mitigation projects after being hit by a storm. My results are primarily driven by ZIP codes with high pre-treatment levels of vacant housing units, housing units occupied by renters, and housing units owned with a mortgage. I argue that local governments may be strategically underinvesting in disaster preparation to avoid revealing their jurisdictions’ inherent risk to otherwise uninformed property investors. |
| Keywords: | Local governments, natural disasters, mitigation, media, newspapers |
| JEL: | H72 H84 Q54 R52 R53 |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101291&r=all |
| By: | Amir, Md. Khaled; Amir, Md Zobayer |
| Abstract: | Since adopting all the possible plans, strategies, and containing measures to defy the outbreak of COVID-19 pandemic, the world fails to prevent rapid contagion of a novel coronavirus, breaks down the regular all-inclusive socio-economic channels, damages countless lives and livelihoods and forces global economic downturn could be facing world’s worst depression since the 1930s. This research paper has two phases amid and after the impact of novel coronavirus on global Scio-economy, can be mitigated by focusing and implementing effective responsive and reconstructive socio-economic plans and frameworks covering emergency financing, robust capital market, independence of the central bank, and sound banking sector, currency swap, liquidity facilities, tax relief, loan forbearance, and expanded unemployment insurance, concessional financing, grants, debt relief, global collaboration, innovating new diversified technologies, job transition, reskilling, re-deployment, setting watchdog for corruption, global collaboration, adding resilience, response, and re-configurability in existing supply chain metrics are essential to lighten the global socio-economic imbalances including financial distress, economic stress, food crisis, rising hunger, job layoffs, educational institutions closure, supply chain interruptions and shutting down businesses. Declining Carbon dioxide (CO2) emission creating an opportunity of establishing a low carbon economy and reducing air pollution and environmental crisis, a chance on focusing clean energy, and emphasize more on hi-tech like cloud computing and artificial intelligence are positive outcomes from coronavirus pandemic, will help to accelerate response and recovery plans against COVID-19. |
| Keywords: | COVID-19, Socio-Economy, Clean Energy, Cloud Computing, Job Transition, Fiscal Aid JEL Code: A120, B55, L86, J62, H87 |
| JEL: | A13 D6 E61 H3 M2 M21 O2 |
| Date: | 2020–06–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101244&r=all |
| By: | López-Rivera, Andrés |
| Abstract: | In the wake of the 1992 Earth Summit in Rio de Janeiro, 'traditional knowledge' became a recurring theme in global environmental governance. The emergence of traditional knowledge in a governance field marked by global science begs the following question: how is it that a particular set of intellectual activities other than science came to be perceived as a form of knowledge whose attributes are valuable for governing the global environment? This paper aims to grapple with this question by tracing the emergence of the category of traditional knowledge in global environmental governance. The main argument is that traditional knowledge came to be conceived of as a cognitive resource with utilitarian and 'glocal' properties through a series of interventions on the part of public scientists and landmark environmental reports that blurred the boundaries between science and nonscience. Building upon the concept of boundary work in Science and Technology Studies, this paper puts forth the concept of boundary blurring to analyze how aspects of science are attributed to traditional knowledge, thus attenuating the demarcation between science and other forms of knowledge. Boundary blurring works as a form of legitimation of traditional knowledge and, through the attribution of knowledge to nonscientific actors, opens up a space for these to make knowledge claims in global governance processes. Ultimately, the analysis throws light on the constitution of unconventional 'knowledge actors' in global governance, in particular indigenous peoples and local communities. |
| Keywords: | Boundary blurring,Traditional knowledge,Indigenous peoples,Global environmental governance |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:khkgcr:25&r=all |
| By: | Victoire Girard; Nicolas Berman; Mathieu Couttenier |
| Abstract: | This paper documents a new channel of the natural resource curse: the fragmentation of identities, between ethnic groups and nations. We combine individual data on the strength of ethnic – relative to national – identities with geo-localized information on the contours of ethnic homelands and on the timing and location of mineral resources exploitation in 25 African countries, from 2005 to 2015. Our strategy takes advantage of several dimensions of exposure to resources exploitation: time, spatial proximity, and ethnic proximity. We show that the strength of an ethnic group identity increases when mineral resource exploitation in that group’s historical homeland intensifies. This result holds independently of the impact of resources on local economic conditions and conflicts. We then investigate the various potential channels of transmission. Our findings suggest that feelings of economic deprivation and political exclusion associated with natural resources exploitation drive their impact on the strength of ethnic identities. |
| Keywords: | Identity, ethnicity, natural resources |
| JEL: | J15 N57 O55 Q32 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:unl:novafr:wp2007&r=all |
| By: | Lunn, Pete; Lyons, Seán; Murphy, Martin |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:esr:wpaper:rb202009&r=all |
| By: | Mateos, Angel; Harvey, John; Wu, Rongzong; Paniagua, Fabian; Paniagua, Julio Cesar |
| Abstract: | Fifteen bonded concrete overlay of asphalt (BCOA) sections were built at the UCPRC facility in Davis, California, from February 23 to 25, 2016. The concrete mixes included Type II/V and Type III portland cements and calcium sulfoaluminate cement, and they were designed to provide 2.8 MPa (400 psi) flexural strength after either 4 or 10 hours. Six of the 15 sections were instrumented with a total of 245 sensors to measure the responses to environmental actions and cement hydration. Based on the analysis of the data collected by these sensors up until May 31, 2017, preliminary conclusions were drawn regarding how the different section configurations and concrete types responded to moisture and temperature-related actions. A clear link between drying shrinkage, concrete relative humidity, and environmental conditions was verified. Very high levels of drying shrinkage were measured in all portland cement mixes. For these mixes, the topical use of a shrinkage-reducing admixture proved to be an effective and efficient way to reduce drying shrinkage. Due to the low water/cement ratio of the portland cement mixes, very high levels of autogenous shrinkage occurred except in the mix that had been internally cured with pre-wetted lightweight aggregates. Autogenous shrinkage barely occurred in the internally cured mix. The mix with calcium sulfoaluminate cement did not present any autogenous shrinkage and presented much lower drying shrinkage than the mixes with portland cement. Despite the high levels of drying shrinkage in the mixes with portland cement, the concrete and asphalt remained fully bonded. For all the mixes, the apparent coefficient of thermal expansion was clearly influenced by the environmental conditions. Overall, thermal deformations of the mixes were much higher than predicted using the coefficient of thermal expansion determined in the laboratory under saturated conditions. |
| Keywords: | Engineering, BCOA, rigid pavement, bonded concrete overlay of asphalt, thin whitetopping, early high-strength concrete, coefficient of thermal expansion, moisture-related shrinkage, relative humidity, concrete shrinkage, drying shrinkage |
| Date: | 2020–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt5hx556j4&r=all |
| By: | Grilli, Gianluca; Mohan, Gretta; Curtis, John |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:esr:wpaper:rb202011&r=all |
| By: | Henri-Paul Rousseau |
| Abstract: | L’idée du panier bleu est née de la volonté de relancer l’économie québécoise et de diminuer l’empreinte écologique de notre consommation par l’achat local en renforçant notamment le commerce électronique québécois. Mais ce panier bleu exigera beaucoup plus que la publication d’un répertoire de fournisseurs québécois et des efforts ont été entrepris par ses promoteurs pour mieux définir le projet. Ce texte souhaite contribuer à cette réflexion. Identifier si un produit ou un service est « québécois » est complexe Au Québec, comme ailleurs dans le monde, les produits et les services qui arrivent sur nos marchés sont le fruit du travail de designers, fournisseurs, fabricants et distributeurs dont les activités ne sont pas nécessairement situées au Québec. Dans les faits, les importations du Québec représentent 49,8 % de son PIB dont 34,3 % proviennent de pays étrangers et 15,5 % des autres provinces canadiennes. Dans un tel contexte, identifier si un produit ou un service est « québécois » devient très complexe. En effet, un bien ou un service offert sur le marché québécois peut à toutes les étapes intermédiaires de sa production et de sa distribution contenir tantôt des intrants locaux, tantôt des intrants importés. Par exemple, est-ce qu’un vêtement désigné par un créateur québécois, mais cousu au Vietnam se qualifierait ? Est-ce qu’un robot sophistiqué conçu au Québec mais assemblé au Mexique se qualifierait ? La rigueur est essentielle dans cet exercice sinon très rapidement les entreprises et les consommateurs québécois y verront trop de « blue washing » pour croire à la validité du panier bleu. Une identification « québécoise » du panier bleu rendue possible grâce aux technologies numériques Pour mesurer le contenu local d’un produit équivalent à sa valeur ajoutée, il faudrait colliger des données microéconomiques sur l’origine (locale ou importée) de tous ses intrants et leur contribution relative à chaque étape de la production et de la distribution de ce bien. En répétant cette opération pour tous les biens et services offerts, on saurait lesquels peuvent faire partie du panier bleu. Malheureusement on ne collige pas de telles informations, mais il serait possible de le faire en numérisant la TPS et la TVQ. La numérisation de la TPS et de la TVQ en utilisant les technologies de traçabilité permettraient de connaître l’origine détaillée des produits et des services et les technologies des registres distribués décentralisés (blockchain) permettraient de certifier leur pourcentage de contenu local. La numérisation de ces deux taxes serait par conséquent un excellent moyen pour bâtir l’infrastructure technologique du panier bleu. En effet, lorsque ces technologies sont implantées, le client paie sa facture incluant les taxes, et le montant des taxes est versé directement aux autorités fiscales et simultanément le compte du vendeur est crédité du montant net de la vente ; il en est de même pour tous les fournisseurs de ce détaillant ou de ce producteur. Tout est simultané et exécuté par des contrats intelligents, sans risque de fraude, et « toutes les informations pertinentes » sont enregistrées. La numérisation de la TPS et de la TVQ permettrait ainsi à Revenu Québec de connaître la valeur ajoutée, et donc le pourcentage de contenu local, de chacun des biens et des services offerts par les entreprises percevant la TPS et la TVQ sur son territoire. Ce pourcentage certifié pourrait être ajouté au Code QR qui donne également les informations de traçabilité du produit ou du service offert. Ce pourcentage certifié c’est l’instrument du panier bleu : un produit ou un service fabriqué à 100 % avec des intrants du Québec afficherait un panier bleu foncé, un autre à 60 % québécois, un panier d’un bleu plus pâle. Le panier bleu permettrait d’accélérer la transition numérique de nos entreprises, qui, une fois numérisées, seront plus efficientes et compétitives sur les marchés domestiques et extérieurs. Un panier bleu qui pourrait devenir la pierre angulaire d’une stratégie de transition écologique pour le Québec La numérisation procure également un bénéfice écologique important, trop souvent ignoré. Parce qu’elle fournit une pléthore d’informations sur les composantes et les origines de tous les intrants, mais aussi sur les processus de fabrication et de distribution, elle rend possible la mesure de l’empreinte écologique des entreprises. Ainsi on peut connaître la distance parcourue pour s’approvisionner en tel ou tel intrant, le type et la quantité d’énergie utilisée pour fabriquer un bien, ou de carburant pour le distribuer, la quantité de matière recyclée pour le fabriquer, ou s’il est lui-même recyclable. La révolution numérique devient ainsi un puissant instrument pour accélérer la transition écologique. En y ajoutant des teintes de vert un panier bleu pourrait devenir turquoise : un panier de produits et services écologiques fabriqués au Québec ! Évidemment, comme tout grand projet de politique publique, une analyse des coûts et des bénéfices devra effectivement être conduite, mais il importe avant tout de bien comprendre le contexte de ce projet. Il impose un virage culturel, organisationnel et financier qui requiert audace, prise de risques, beaucoup de capital et l’embauche de nouvelles compétences. Tout un chantier sur quelques années mais qui est à la hauteur des défis que nous impose la double transition numérique et écologique. Pour le bénéfice des générations futures, il faut construire non seulement des infrastructures physiques mais également des infrastructures numériques. |
| Keywords: | , Panier bleu,Transition numérique,Transition écologique,Québec |
| Date: | 2020–07–15 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirbur:2020rb-06&r=all |
| By: | Alessandro Cantelmo; Leo Bonato; Giovanni Melina; Gonzalo Salinas |
| Abstract: | Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection —insurance and self-insurance— and structural protection —investment in adaptation. Using a dynamic general equilibrium model calibrated to the St. Lucia’s economy, this paper shows that both strategies considerably reduce the output loss from natural disasters and studies the conditions under which each of the two strategies provides the best protection. While structural protection normally delivers a larger payoff because of its direct dampening effect on the cost of disasters, financial protection is superior when liquidity constraints limit the ability of the government to rebuild public capital promptly. The estimated trade-off is very sensitive to the efficiency of public investment. |
| Keywords: | Real interest rates;Cost of capital;Total factor productivity;Capital;Private investments;Climate Change,Natural Disasters and Their Management,Government Policy,public capital,Papageorgiou,depreciation rate,natural disaster,public standard |
| Date: | 2019–03–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2019/054&r=all |
| By: | Delphine Gibassier (Audencia Business School - Audencia Business School); Giovanna Michelon; Mélodie Cartel (CGS i3 - Centre de Gestion Scientifique i3 - CNRS - Centre National de la Recherche Scientifique - PSL - PSL Research University - MINES ParisTech - École nationale supérieure des mines de Paris) |
| Date: | 2020–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02810507&r=all |
| By: | Fernández-Amador, Octavio; Francois, Joseph; Oberdabernig, Doris; Tomberger, Patrick |
| Abstract: | We develop a global dataset of methane inventories derived from production, sup-ply use (fi nal production), and consumption activities for 1997-2014, disaggregated to 78 countries/regions. Our dataset extends existing data on methane emissions to 2014 and allows to trace emissions embodied in international trade in intermediates and in fi nal goods. Anthropogenic emissions are quantitatively important for global warming and increased by about 18% from 1997 to 2014. The bulk of produced emissions is attributable to developing economies, though a considerable amount is exported mainly via manufactured goods to high income countries, which are net-importers of methane. Trade-embodied emissions increased by 8% more than nationally produced emissions during 1997-2014, with the strongest increase experienced by China, India, and Indonesia. Decompositions of the growth rate of emissions over this period suggest that methane efficiency improved but that it was outweighed by the effect of economic and population growth in low- and middle-income countries. In high-income countries, however, methane efficiency gains outweighed the effect of economic and population growth. |
| Keywords: | decomposition analysis; emissions embodied in trade; methane emissions; methane footprints; MRIO analysis; production-based inventories |
| JEL: | F18 F64 O44 Q54 Q56 |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14125&r=all |
| By: | Antoine Leblois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Tristan Le Cotty (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 - CNRS - Centre National de la Recherche Scientifique); Elodie Maître d'Hôtel (UMR MOISA - Marchés, Organisations, Institutions et Stratégies d'Acteurs - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | The low observed uptake of non-subsidised index-based insurance policies in developing countries has been puzzling researchers for about a decade. This paper analyses the role of drought frequency in farmers' demand for index-based insurance in developing countries. While it is typically assumed that an increase in exposure to risk would result in higher demand for index insurance, this paper finds the opposite: an increase in drought frequency may result in lower demand for index insurance under fairly standard conditions. In an expected utility model, we show that the demand for insurance is an inverted U function of drought frequency. We further show that downside basis risk decreases insurance demand under frequent drought conditions. It implies that insurance against similar but more frequent events cannot meet large demand from farmers. To check the empirical relevance of these effects, we conduct an insurance field experiment in Burkina Faso with 205 farmers. We analyse insurance demand for different drought frequencies, different levels of basis risks and different loading factors through incentivised lottery choices. This analysis confirms that for higher drought frequencies, insurance demand is lower. Insurance demand also decreases with basis risk and the loading factor. |
| Keywords: | index-based insurance,extreme events,frequency,basis risk |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-02863351&r=all |
| By: | Herstatt, Cornelius; Tiwari, Rajnish |
| Abstract: | Objective of this discussion paper is twofold: First, we assess the likely impact of the Corona crisis on the economic and societal choices of people, especially in relation to voluntary simplicity. Second, we contextualize the impact of those choices in the field of innovation management. Taking a normative-conceptual perspective we seek to understand in how far frugality, and inter alia, frugal innovations can play a role in better managing the after-effects of the Corona crisis and what implications arise out of this for the relevant societal stakeholders, especially for corporates, policy makers and consumers. Taking note of historical discussions of the role of frugality as a "virtuell", we propose that the currently ongoing fourth renaissance of frugality needs to - and is likely to - emerge as a megatrend that may shape a frugal "AGE" resulting in "affordable green excellence" as the dominant innovation paradigm. To realize this potential, however, it is necessary to move away from the unidimensional focus on monetary affordability of frugal solutions. There is a need for developing a more comprehensive and multidimensional understanding of affordability that is targeted at ensuring financial, societal, infrastructural and ecological affordability of frugal products, services, technologies and business models. Frugal innovators and entrepreneurs should not merely target "significant cost reduction" in relation to existing substitute products but rather aim at ensuring "high affordability" that will open up new business arenas with means of breakthrough innovations and technological excellence. This paradigm shift requires action from all relevant stakeholders including policymakers. |
| Keywords: | Corona Crisis,Covid-19 Pandemic,Frugality 4.0,Frugal Innovation,Affordable Green Excellence,Circular Economy,Voluntary Simplicity |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:tuhtim:110&r=all |
| By: | Hardeep Singh (Indira Gandhi Institute of Development Research); Digvijay S Negi (Indira Gandhi Institute of Development Research); Pratap S. Birthal (ICAR-National Institute for Agricultural Economics and Policy Research) |
| Abstract: | A significant body of literature interested in studying the impacts of weather risks on agricultural performance has modeled crop yields as a function of either levels or deviations in seasonal rainfall. However, an aspect that has received little attention in the literature relates to the impact of timing of arrival of monsoon on agricultural performance. In this paper, using a pan India district-level panel dataset for a period of 50 years, we investigate three interrelated issues that are critical for managing the weather-induced agricultural risks. One, we examine the impact of timing of arrival of monsoon on crop yields. Two, we assess the mitigation benefits of irrigation against delayed monsoon. And three, by simulating premium rates for an area yield insurance product at varying levels of irrigation coverage, we argue for differential pricing of insurance products for irrigated and rainfed crops or regions. |
| Keywords: | Monsoon onset, Crop yields, Irrigation, Crop insurance, Premiums |
| JEL: | Q10 Q18 Q50 G22 |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:ind:igiwpp:2020-018&r=all |
| By: | Muehlegger, Erich J. PhD; Rapson, David S. PhD |
| Abstract: | The true net environmental benefit of an electric vehicle is relative to the vehicle that an electric vehicle buyer would have bought and driven had they not opted for an electric vehicle. This “counterfactual” vehicle cannot be observed, but its fuel economy can be estimated. We use quasi-experimental variation in a generous California electric vehicle subsidy program to show that buyers of electric vehicles would have, on average, purchased fuel-efficient gasoline-powered cars had they not gone electric. |
| Keywords: | Engineering, Electric vehicles, user side subsidies, environmental impacts, consumer behavior, market share, automobile ownership, policy analysis, fuel consumption |
| Date: | 2020–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt8dg237md&r=all |
| By: | Stephan Kampelmann |
| Abstract: | Wood is abundant in cities around the world, but its potential contribution to circular urban economies has received little attention. Whereas current practices are mostly limited to low-value uses in the form of mulch or firewood, we document the emergence of an ‘urban wood movement’ that successfully created local value chains in cities across the United States, Canada, The Netherlands and Belgium. Value chains for urban wood vary in their production capacity, professionalism and institutional set-up. Common features include a need for effective local cooperation across diverse actors and the development of storylines akin to the principle of value cascading. We suggest three avenues for further research that are concerned with the potential contribution of urban wood initiatives to 1) the provision of positive economic and environmental impacts; 2) debates on sustainable forestry focusing on decentralization and local control; and 3) knowledge on viable business models in short-circuit economies. |
| Date: | 2020–06–29 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/308602&r=all |
| By: | ElDidi, Hagar; Bidoli, Thomas; Ringler, Claudia |
| Abstract: | Nigeria’s rural youth are facing various challenges in agriculture, with limited job opportunities outside the sector. Using qualitative focus group discussions and individual interviews with youth in four communities in two Nigerian states, the paper reflects on nuanced differences in perceptions of opportunities, coping mechanisms and overall resilience of youth in rural Nigeria, as well as differential access to information, inputs and irrigation based on age, gender and community. We apply the GCAN framework, to illustrate the factors that shape resilience pathways in the context of climate change and other shocks and stressors. Many of the constraints rural youth face are faced by other groups, including lack of finance, farm inputs and modern equipment for production and processing. Yet, youth face higher and specific hurdles related to lack of capital, experience and a strong social capital and networks that would facilitate coping with climatic and other shocks and improving their livelihoods. Young women in particular have less access to information and irrigation, and are less likely to benefit from cooperative memberships. Nevertheless, young men and women have higher resilience compared to older groups in terms of health, mobility and ability to migrate, as well as easier access to the internet as a source of information. Youth can better build resilience and a network and receive government assistance when part of a cooperative. Nevertheless, a larger enabling environment in the sector is needed, to improve roads, access to markets, information, inputs and equipment to support young farmers who cannot leave the agriculture sector. A promising factor is that many young men and women realize the importance of agriculture and aspire to become successful in the sector. |
| Keywords: | NIGERIA; WEST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; agriculture; youth; resilience; climate change; gender; farmers; irrigation; water; agricultural extension; access to information; cooperatives; decision making; rural areas; youth employment; migration; climate shocks |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:1946&r=all |
| By: | Newbery, D. |
| Abstract: | Member States have published National Energy and Climate Plans with challenging variable renewable electricity (VRE) targets. As VRE has a high peak to average output, the Single Electricity Market of the island of Ireland (SEM), will need to consider how best to balance the lost value of curtailment against the extra costs of higher Simultaneous Non-Synchronous Penetration (SNSP), more interconnector capacity and/or more storage. The paper develops a simple spreadsheet model to explore these options for the 2026 VRE targets in the SEM and her neighbours. Raising SNSP from 75% to 85% reduces curtailment from 13.3% to 8.1%, saving 1,338 GWh/yr of spilled wind. Adding the Celtic Link of 700 MW at SNSP of 75% reduces curtailment to 12.4% and saves 235 GWh/yr. Adding 100 MW of batteries saves 18 GWh/yr. The marginal spilled wind can be four times the average. |
| Keywords: | Variable renewable electricity, curtailment, interconnection, storage |
| JEL: | C63 Q42 Q54 |
| Date: | 2020–07–23 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2072&r=all |
| By: | Nuria Osés-Eraso; Sébastien Foudi |
| Abstract: | Este trabajo analiza cómo las curvas de probabilidad daño y el daño anual esperado, como indicadores del riesgo de inundación, se ven afectados por el cambio climático, las medidas de prevención estructurales o no estructurales y los efectos inesperados como el efecto dique. Subraya las interacciones entre medidas privadas no estructurales y públicas estructurales en la adaptación al cambio climático. Un ejemplo, con la apertura del canal de Deusto en Bilbao, ilustra cómo una medida estructural modifica el riesgo de inundación y permite discutir del papel de las medidas no estructurales en la adaptación. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaddt:2020-08&r=all |
| By: | Le, Kien; Nguyen, My |
| Abstract: | The expropriation of agricultural land to provide new land for industrial and urban expansion, referred to as compulsory acquisition, is prevalent in developing countries. Using Vietnam as a laboratory, this study evaluates the impacts of losing farmland through compulsory acquisition on household welfare and reaches the following findings. A 10 percentage point increase in the proportion of land expropriated results in a 2.2% decrease in household welfare proxied by food expenditure. Besides, politically unconnected and ethnic minority households are disproportionately vulnerable. The adverse welfare effect could take up to 10 years to evaporate. The reduction in household welfare is attributable to the decline in agricultural income and the inability to participate in the non-agricultural labor market. Other aspects of household behavior following compulsory acquisition are also explored, such as saving, social capital, labor, and capital allocation. |
| Keywords: | Land expropriation, rural households, Vietnam |
| JEL: | J22 O12 O13 R28 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101397&r=all |
| By: | César Martínez (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - INRA - Institut National de la Recherche Agronomique - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier, Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier); Pierre Courtois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - INRA - Institut National de la Recherche Agronomique - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier); Mabel Tidball (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - INRA - Institut National de la Recherche Agronomique - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier); Gael Thébaud (UMR BGPI - Biologie et Génétique des Interactions Plante-Parasite - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - INRA - Institut National de la Recherche Agronomique) |
| Date: | 2018–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02791160&r=all |
| By: | Victor Stéphane (Univ. Lyon, UJM Saint-Etienne, GATE UMR 5824, F-42023 Saint-Etienne, France) |
| Abstract: | This paper investigates the impact of natural disasters on social capital. By heterogeneously affecting people in a community, natural disasters create a temporary information asymmetry on their post-disaster income. Using an original dataset collected in rural Ecuador, we provide suggestive evidence that households use this asymmetric information to pretend to be poorer than they actually are, in order to escape from solidarity mechanisms in the aftermath of the shock. The magnitude of this effect decreases with the level of wealth inequality in the community and vanishes in the most unequal communities where bilateral cooperation is rather fostered. |
| Keywords: | Social Capital, Moral Hazard, Asymmetric Information, Volcanic Eruptions, Ecuador |
| JEL: | D71 O12 Q54 D82 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:gat:wpaper:2021&r=all |
| By: | Nikulin, Alexander (Никулин, Александр) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The conducted scientific research is mainly empirical, therefore it is focused on both micro-level – rural households, their traditional and innovative social-economic and social-cultural practices – and macro-level – several cases-regions that differ in the dominant models of rural formal and informal economies, their production-economic practices, and economic-environmental challenges. The study combined quantitative (secondary analysis of sociological and statistical data) and qualitative approaches (case study and “life story”, methods of observation and semi-formalized expert interviews), which allowed to provide an analytical review of traditional and innovative social-economic and environmental practices of rural households, taking into account the regional specifics of the environmental situation, and also to specify the priorities of regional and state policies so that they would support small forms of self-organization of agricultural production and development of rural territories. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042018&r=all |
| By: | Fafaliou, Irene; Giaka, Maria; Konstantios, Dimitrios; Polemis, Michael |
| Abstract: | This study examines the impact of sustainability (ESG) on US listed firms’ exit decision. Using a recent dataset of a large number of US firms over the period 2007- 2016, we perform a dynamic empirical analysis of the relation between ESG and firms’ exiting mechanism by measuring environmental, social and governance issues. We provide evidence that corporate sustainability is a tool that can reduce risks and enable companies to boost surviving mechanisms and face less probability of failure. Finally, we perform several statistical tests for robustness purposes |
| Keywords: | Sustainability; Longevity, Corporate Sustainability Performance |
| JEL: | G1 G3 L2 M14 O1 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101445&r=all |
| By: | Fausta Pellizzari |
| Abstract: | L’attuazione del principio di responsabilità comune ma differenziata in relazione al riscaldamento globale è molto complessa. Il primo protocollo vincolante concretizza tale principio con riferi-mento alle emissioni di gas serra prodotte in un paese in un de-terminato anno. Tuttavia la responsabilità di ogni paese dovrebbe essere valutata considerando le emissioni globalmente prodotte, quindi tenendo conto del cumulo di emissioni imputabili al paese, data la lunga permanenza dei gas serra nell’atmosfera; delle emissioni legate ai consumi effettuati nel paese, a prescindere da dove i beni consumati siano prodotti; del differente peso demografico, in quanto la quota di emissioni assegnabile ad un paese dovrebbe essere in relazione alla quota di popolazione. Comunque, a prescindere dal modo in cui vengono contabilizzate le emissioni, affrontare il riscaldamento globale focalizzandosi solo sulle emissioni potrebbe non essere sufficiente. L’esperienza passata insegna che riduzioni delle emissioni in singoli paesi possono essere conseguite grazie alla delocalizzazione di produzioni e per effetto di fenomeni recessivi. Nel primo caso non si verificherebbe alcuna riduzione nel totale delle emissioni; nel secondo caso, il problema del riscaldamento globale si ripresenterebbe nella sua drammaticità, superata la recessione. Per questo è di particolare importanza che la negoziazione nelle prossime COP non riguardi limiti alle emissioni, ma standard di efficienza energetica e intensità carbonica, anche con una differenziazione di responsabilità. Le economie più avanzate, dotate di maggiori conoscenze tecnologiche, degli ingenti strumenti finanziari necessari per supportare la transizione energetica, di istituzioni capaci di promuovere l’efficienza energetica e di ridurre l’intensità carbo-nica, potrebbero essere di esempio, guida e sostegno per le economie meno avanzate, in modo tale da raggiungere insieme gli SDGs evitando quel trade off tra obiettivi che troppo spesso si è verificato in passato e che anche l’attuale pandemia continua a confermare. |
| Keywords: | Riscaldamento globale, Responsabilità comune ma differenziata, SDGs. |
| JEL: | O1 Q01 Q54 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:crn:wpaper:crn2003&r=all |
| By: | Franziska Holz; Claudia Kemfert |
| Abstract: | Natural gas could play an increasing role in the German energy system following the coal exit decided in July 2020 by the German parliament. However, natural gas has no climate benefit compared to coal. What is more, Europe risks to become a battle-ground for the conflict between Russia and the United States. The construction of the Baltic Sea pipeline Nordstream 2 has set in motion a downward spiral of sanctions and counter-sanctions. US liquefied natural gas (LNG) exports compete with Russian gas exports to Europe. While German and European policy makers debate about an appropriate reaction to the US sanctions, we ask which role will US LNG be able to play in the European natural gas market. Model results by DIW Berlin pro- vide first answers. In the long run, however, the European climate policy commitments will lead to a phase-out of fossil natural gas in the wake of the energy transition in the next decades. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwfoc:5en&r=all |
| By: | Yan, Shiyu; De Bruin, Kelly; Dennehy, Emer; Curtis, John |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:esr:wpaper:wp669&r=all |
| By: | Van, Germinal |
| Abstract: | The purpose of this paper is to establish a positive correlation between property rights and economic freedom. It seeks to demonstrate that property rights lead to economic freedom. From a purely theoretical perspective, it has been assumed that greater access to property rights leads to economic freedom, consequently to sustainable economic growth. To establish this correlation in the case of Africa, we applied the use of statistical tools to substantiate the validity of our economic theory. We mainly used a simple linear regression to ascertain our hypothesis. |
| Keywords: | economic freedom, property rights, econometrics, macroeconomics, development economics, economic growth |
| JEL: | C12 C53 O11 O4 O47 |
| Date: | 2020–07–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101681&r=all |
| By: | Breitenstein, Miriam; Anke, Carl-Philipp; Nguyen, Duc Khuong; Walther, Thomas |
| Abstract: | We assess the value of stranded coal-fired power plants in Germany due to the critical phase- out by 2038. Within a Monte Carlo simulation, the scenarios under consideration (a slow decommissioning at the end of the technical lifetime in 2061, the highly probable phase-out by 2038, and an accelerated phase-out by 2030) are additionally assigned distributions to display the uncertainty of future developments. The results show an overall stranded asset value of €0.4 billion given the phase-out by 2038 and additional €14.3 billion if the phase-out is brought forward by eight years. This study also depicts the impacts of carbon pricing and the feed-in from renewable energy sources on the merit order and eventually the deterioration in economic conditions for hard coal and lignite power plants. Lastly, we illustrate immediate concerns for share prices of affected companies and contributes to closing the research gap between stranded physical and financial assets. |
| Keywords: | Coal Phase-out; Energy transition; Germany; Stranded Assets |
| JEL: | C53 L13 L94 Q38 |
| Date: | 2019–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101763&r=all |
| By: | Simon Cornée (Univ Rennes, CNRS, CREM - UMR 6211, and CERMi, F-35000 Rennes, France); Madeg Le Guernic (Univ Rennes, CNRS, CREM - UMR 6211, F-35000 Rennes, France); Damien Rousselière (Agrocampus Ouest, UMR Smart-Lereco, CRISES, Université du Québec à Montréal) |
| Abstract: | This paper introduces a refined approach to conceptualising the commons in order to shed new light on cooperative practices. Specifically, it proposes the novel concept of Common-Property Assets (CPAs). CPAs are exclusively human-made resources owned under common-property ownership regimes. Our CPA model combines quantity (the flow of resource units available to members) and quality (the impact produced on the community by the members’ appropriation of the resource flow). While these two dimensions are largely pre-existing in the conventional case of natural common-pool resources, they directly depend on members’ collective action in CPAs. We apply this theoretical framework to farm machinery sharing agreements—a widespread grassroots cooperative phenomenon in agriculture—using a systematic literature review to generalise the findings from a sample of 54 studies published from 1950 to 2018. Our findings show that in successful CPAs, members endorse and do not deviate from a quantity-quality equilibrium that is collectively agreed upon. Despite the existence of thresholds for both quantity and quality due to (axiological) membership heterogeneity, qualitative changes in respect of the common good are possible in CPAs that promote democratic practices. Our study has potentially strong implications for developing ethics in cooperatives and the sustainable development of communities worldwide. |
| Keywords: | Governance of the Commons; Farm Machinery Sharing Cooperative Arrangements; Ethical Aspects |
| JEL: | G3 M00 O17 P32 Q13 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:tut:cremwp:2020-02&r=all |
| By: | Nicolás Rivera Garzón |
| Abstract: | El objetivo del artículo es evaluar los aspectos teóricos y empíricos de una intervención sobre los hogares colombianos que usan leña, madera o carbón de leña para preparar sus alimentos. Los resultados del modelo logístico multinomial estimado señalan que la probabilidad de utilizar combustibles alternativos aumenta con el nivel de ruralidad, mientras que disminuye con el acceso a otros servicios públicos. El estudio propone el uso de estufas mejoradas para cocción con leña para mejorar la calidad de vida de esta población, entre tanto se disminuyen los impactos negativos sobre el medio ambiente. A partir del análisis de datos de la Encuesta Nacional de Calidad de Vida (ECV) de 2018, se identifica una demanda potencial por estufas de leña mejoradas de 1 680 826 hogares con un ingreso promedio de COP 852 373 en los departamentos de Antioquia, Boyacá, Cauca, Córdoba, La Guajira y Nariño. La intervención planteada puede mejorar el proceso de empoderamiento de la mujer rural cabeza de familia de bajos ingresos, especialmente su manejo del tiempo y finanzas personales. *** The objective of the article is to evaluate the theoretical and empirical aspects of an intervention on Colombian households that use firewood, wood or charcoal to prepare their food. The results of the estimated multinomial logistic model indicate that the probability of using alternative fuels increases with the level of rurality, while it decreases with access to other public services. The study proposes the use of improved stoves for cooking with firewood to improve the quality of life of this population, while reducing negative impacts on the environment. From the analysis of data from the 2018 National Quality of Life Survey, a potential demand for improved wood stoves is identified from 1,680,826 households with an average income of COP 852,373 in the departments of Antioquia, Boyacá, Cauca, Córdoba, La Guajira and Nariño. The intervention proposed here can improve the empowerment process of rural women heads of low-income families, especially their time management and personal finances. |
| Keywords: | consumo de leña, estufas mejoradas, mujer rural, regresión logística. |
| JEL: | C25 I14 Q20 |
| Date: | 2020–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000176:018280&r=all |
| By: | Simon Glossner (University of Virginia - Darden School of Business); Pedro Matos (University of Virginia - Darden School of Business; European Corporate Governance Institute (ECGI)); Stefano Ramelli (University of Zurich - Department of Banking and Finance); Alexander F. Wagner (University of Zurich - Department of Banking and Finance; Centre for Economic Policy Research (CEPR); European Corporate Governance Institute (ECGI); Swiss Finance Institute) |
| Abstract: | Institutional investors played a crucial role in the COVID-19 market crash. U.S. stocks with higher institutional ownership -- in particular, those held more by active, short-term, and domestic institutions -- performed worse. An analysis of changes in holdings through the first quarter of 2020 reveals that mutual funds, investment advisors, and pension funds favored stocks with strong financials (low debt and high cash), whereas hedge funds sold stocks indiscriminately. None of these institutional investor groups appear to have actively tilted their portfolios toward firms with better environmental and social performance. Data from a large discount brokerage indicate that retail investors acted as liquidity providers. Overall, the results suggest that when a tail risk realizes, institutional investors express a preference for "hard" measures of firm resilience. |
| Keywords: | Cash holdings, Coronavirus, Corporate debt, COVID-19, ESG, Event study, Financial crisis, Institutional ownership, Leverage, Pandemic, Retail investors, Robinhood, SARS-CoV-2, Tail risk |
| JEL: | G01 G12 G14 G32 F14 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2056&r=all |
| By: | Karan, Shivesh Kishore (Institut National des Sciences Appliquées, Toulouse); Hamelin, Lorie |
| Abstract: | Crop residues are acknowledged as a key biomass resource to feed tomorrow’s sustainable bioeconomy. Yet, the quantification of these residues at large geographical scales is primarily reliant upon generic statistical estimations based on empirical functions linking the residues production to the primary crop yield. These useful yet unquestioned functions are developed either using direct evidence from experimental results or literature. In the present study, analytical evidence is presented to demonstrate that these methods generate imprecise and likely inaccurate estimates of the actual biophysical crop residue potential. In this endeavor, we applied five of the most used functions to a national case study. France was selected, being the country with the largest agricultural output in Europe. Our spatially-explicit assessment of crop residues production was performed with a spatial resolution corresponding to the level of an administrative department (96 departments in total), also the finest division of the European Union’s hierarchical system of nomenclature for territorial units (NUTS), and included 17 different crop residues. The theoretical potential of crop residues for the whole of France was found to vary from 987 PJ Y-1 to 1369 PJ Y-1, using different estimation functions. The difference observed is more than the entire annual electricity consumption of Belgium, Latvia, and Estonia combined. Perturbation analyses revealed that some of the functions are overly sensitive to a fluctuation in primary crop yield, while analytical techniques such as the null hypothesis statistical test indicated that the crop residues estimates stemming from all functions were all significantly different from one another. |
| Date: | 2020–07–29 |
| URL: | http://d.repec.org/n?u=RePEc:osf:eartha:ds8v4&r=all |
| By: | Gaitán Ortiz, Liza Minely (Grupo de Análisis para el Desarrollo (GRADE)) |
| Abstract: | En este trabajo, la autora analiza las diferentes transformaciones que se han producido en la relación de Patilla con el agua, a partir de la llegada de la minería y el posterior proceso de reasentamiento, en el 2012. Con este fin, analiza cómo el agua ha estado vinculada a la construcción y configuración del territorio, tanto en Origen como en el reasentamiento. Asimismo, sistematiza los diferentes usos, prácticas y significados en torno al agua que surgieron luego de la llegada de la minería y, finalmente, identifica los principales conflictos en torno a la calidad y la distribución del agua, producto de la minería y el posterior reasentamiento. |
| Keywords: | Minería, Recursos hídricos, Mining, Water resources, La Guajira, Colombia |
| JEL: | L71 Q2 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:gad:avance:0039&r=all |