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Energy and Economic Development: An Assessment of the State of Knowledge AgEcon
Toman, Michael; Jemelkova, Barbora.
Energy development is an integral part of enhanced economic development. The fact that expanded provision and use of energy services is strongly associated with economic development leaves open how important energy is as a causal factor in economic development, however; and energy development competes with other opportunities for scarce capital and opportunities for policy and institutional reform. In this paper we first give a brief conceptual discussion that seeks to identify the channels through which increased availability of energy services might be a key to stimulating economic development along different stages of the development process. We then examine some empirical work to see what evidence it might provide regarding possible channels of...
Tipo: Working or Discussion Paper Palavras-chave: Energy; Economic development; Productivity; Poverty alleviation; Resource /Energy Economics and Policy; Q41; Q43.
Ano: 2003 URL: http://purl.umn.edu/10685
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Carbon Mitigation Costs for the Commercial Sector: Discrete-Continuous Choice Analysis of Multifuel Energy Demand AgEcon
Newell, Richard G.; Pizer, William A..
We estimate a carbon mitigation cost curve for the U.S. commercial sector based on econometric estimation of the responsiveness of fuel demand and equipment choices to energy price changes. The model econometrically estimates fuel demand conditional on fuel choice, which is characterized by a multinomial logit model. Separate estimation of end uses (e.g., heating, cooking) using the 1995 Commercial Buildings Energy Consumption Survey allows for exceptionally detailed estimation of price responsiveness disaggregated by end use and fuel type. We then construct aggregate long-run elasticities, by fuel type, through a series of simulations; own-price elasticities range from -0.9 for district heat services to -2.9 for fuel oil. The simulations form the basis of...
Tipo: Working or Discussion Paper Palavras-chave: Commercial energy demand; Carbon policy; Climate change; Discrete choice; Resource /Energy Economics and Policy; Q28; Q48; Q41; C35; C15.
Ano: 2005 URL: http://purl.umn.edu/10625
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Industrial Coal Demand in China: A Provincial Analysis AgEcon
Cattaneo, Cristina; Manera, Matteo; Scarpa, Elisa.
In recent years, concerns regarding the environmental implications of the rising coal demand have induced considerable efforts to generate long-term forecasts of China’s energy requirements. Nevertheless, none of the previous empirical studies on energy demand for China has tackled the issue of modelling coal demand in China at provincial level. The aim of this paper is to fill this gap. In particular, we model and forecast the Chinese demand for coal using time series data disaggregated by provinces. Moreover, not only does our analysis account for heterogeneity among provinces, but also, given the nature of the data, it captures the presence of spatial autocorrelation among provinces using a spatial econometric model. A fixed effects spatial lag model...
Tipo: Working or Discussion Paper Palavras-chave: Energy demand; Coal demand; China; Spatial econometrics; Panel data; Forecasting; Resource /Energy Economics and Policy; C23; E6; Q31; Q41.
Ano: 2008 URL: http://purl.umn.edu/44425
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A Trend Deduction Model of Fluctuating Oil Prices AgEcon
Xu, Haiyan; Zhang, ZhongXiang.
Crude oil prices have been fluctuating over time and by a large range. It is the disorganization of oil price series that makes it difficult to deduce the changing trends of oil prices in the middle- and long-terms and predict their price levels in the short-term. Following a price-state classification and state transition analysis of changing oil prices from January 2004 to April 2010, this paper first verifies that the observed crude oil price series during the soaring period follow a Markov Chain. Next, the paper deduces the changing trends of oil prices by the limit probability of a Markov Chain. We then undertake a probability distribution analysis and find that the oil price series have a log-normality distribution. On this basis, we integrate the...
Tipo: Working or Discussion Paper Palavras-chave: Oil Price; Log-normality Distribution; Limit Probability of a Markov Chain; Trend Deduction Model; OPEC; Resource /Energy Economics and Policy; Q41; Q47; C12; C49; F01; O13.
Ano: 2011 URL: http://purl.umn.edu/101300
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The Implications of Alternative Biofuel Policies on Carbon Leakage AgEcon
Drabik, Dusan; de Gorter, Harry; Just, David R..
We show how leakage differs, depending on the biofuel policy and market conditions. Carbon leakage is shown to have two components: a market leakage effect and an emissions savings effect. We also distinguish domestic and international leakage and show how omitting the former like the IPCC does can bias leakage estimates. International leakage is always positive, but domestic leakage can be negative. The magnitude of market leakage depends on the domestic and foreign gasoline supply and fuel demand elasticities, and on consumption and production shares of world oil markets for the country introducing the biofuel policy. Being a small country in world oil markets does not automatically imply that leakage is 100 percent or above that of a large country. We...
Tipo: Conference Paper or Presentation Palavras-chave: Biofuels; Market leakage; Carbon leakage; Emissions savings; Domestic leakage; Tax credit; Mandate; Environmental Economics and Policy; Q27; Q41; Q42; Q54.
Ano: 2010 URL: http://purl.umn.edu/102689
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The Impact of Temperature Change on Energy Demand: A Dynamic Panel Analysis AgEcon
De Cian, Enrica; Lanzi, Elisa; Roson, Roberto.
This paper presents an empirical study of energy demand, in which demand for a series of energy goods (Gas, Oil Products, Coal, Electricity) is expressed as a function of various factors, including temperature. Parameter values are estimated econometrically, using a dynamic panel data approach. Unlike previous studies in this field, the data sample has a global coverage, and special emphasis is given to the dynamic nature of demand, as well as to interactions between income levels and sensitivity to temperature variations. These features make the model results especially valuable in the analysis of climate change impacts. Results are interpreted in terms of derived demand for heating and cooling. Non-linearities and discontinuities emerge, making it...
Tipo: Working or Discussion Paper Palavras-chave: Energy Demand; Cooling Heating Effect; Temperature; Dynamic Panel; Resource /Energy Economics and Policy; C3; Q41; Q54.
Ano: 2007 URL: http://purl.umn.edu/9322
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Inflationary Effect of Oil-Price Shocks in an Imperfect Market: A Partial Transmission Input-output Analysis AgEcon
Wu, Libo; Li, Jing; Zhang, ZhongXiang.
This paper aims to examine the impacts of oil-price shocks on China’s price levels. To that end, we develop a partial transmission input-output model that captures the uniqueness of the Chinese market. We hypothesize and simulate price control, market factors and technology substitution - the three main factors that restrict the functioning of a price pass-through mechanism during oil-price shocks. Using the models of both China and the U.S., we separate the impact of price control from those of other factors leading to China’s price stickiness under oil-price shocks. The results show a sharp contrast between China and the U.S., with price control in China significantly preventing oil-price shocks from spreading into its domestic inflation, especially in...
Tipo: Working or Discussion Paper Palavras-chave: Oil-price Shocks; Price Transmission; Price Control; Input-output Analysis; Inflation; Industrial Structure; China; The United States; Resource /Energy Economics and Policy; Q43; Q41; Q48; O13; O53; P22; E31.
Ano: 2011 URL: http://purl.umn.edu/102507
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Combining Climate and Energy Policies: Synergies or Antagonism? Modeling interactions with energy efficiency instruments AgEcon
Lecuyer, Oskar; Bibas, Ruben.
In addition to the already present Climate and Energy package, the European Union (EU) plans to include a binding target to reduce energy consumption. We analyze the rationales the EU invokes to justify such an overlapping and develop a minimal common framework to study interactions arising from the combination of instruments reducing emissions, promoting renewable energy (RE) production and reducing energy demand through energy efficiency (EE) investments. We find that although all instruments tend to reduce emissions and a price on carbon tends to give the right incentives for RE and EE too, the combination of more than one instrument leads to significant antagonisms regarding major objectives of the policy package. The model allows to show in a single...
Tipo: Working Paper Palavras-chave: Renewable Energy; Energy Efficiency; Energy Policy; Climate Policy; Policy Interaction; Resource /Energy Economics and Policy; Q28; Q41; Q48; Q58.
Ano: 2011 URL: http://purl.umn.edu/120049
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Productivity Change in U.S. Coal Mining AgEcon
Darmstadter, Joel; Kropp, Brian.
Labor productivity in U.S. coal mining increased at an average annual rate of slightly over four percent during the past 45 years. This report examines key factors contributing to that record - particularly, technological innovation in both surface and underground mining and concurrent geographic shifts in U.S. coal production. Health, safety, and environmental regulations introduced in the sixties and seventies, as well as labor unrest, interrupted long-term productivity advance; but the interruption was of limited duration. Although our principal focus is on worker productivity, steady growth in the relative importance of nonlabor inputs underscores the need to consider total factor productivity. The report touches on the productivity record using that...
Tipo: Working or Discussion Paper Palavras-chave: Coal mining; Productivity; Technological change; Resource /Energy Economics and Policy; Q41; L72; O31.
Ano: 1997 URL: http://purl.umn.edu/10874
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Households’ WTP for the Reliability of Gas Supply AgEcon
Chou, Wan-Jung; Bigano, Andrea; Hunt, Alistair; La Branche, Stephane; Markandya, Anil; Pierfederici, Roberta.
The security of natural gas supply is an important issue for all EU countries due to the region’s heavy dependence on imported supply sources and in light of energy demand for gas that is continuously increasing. Discussions have emphasised strategies for securing the supply at the macro level, e.g. diversification in supply sources, increase in storage capacity, etc. By contrast, consumers’ demand for the reliability of gas supply is rarely investigated. Hence this study was conducted to examine the economic implications associated with the security of gas supply directly to domestic consumers. Based on the choice experiment approach, household surveys were conducted in France, Italy and the UK. The results confirmed that the degree of the economic impact...
Tipo: Working or Discussion Paper Palavras-chave: Energy Security; Gas Supply; Households; Willingness to Pay; Choice Experiment; EU; Resource /Energy Economics and Policy; C35; C83; C93; D12; Q41.
Ano: 2011 URL: http://purl.umn.edu/115740
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Managing Water Shortages in the Western Electricity Grids AgEcon
Scorah, Hugh; Sopinka, Amy; van Kooten, G. Cornelis.
British Columbia’s electricity grid is comprised primarily of hydroelectric generating assets. The ability to store water in reservoirs is a significant advantage for the province allowing it to import from Alberta when prices are favourable. Alberta, has a heavily fossil-fuel based electricity portfolio, but has seen substantial growth in its wind energy capacity. However this variable energy technology impacts the province’s grid operations. Wind energy is both variable and uncertainty. However, wind energy in Alberta can be stored via BC’s reservoir systems. In this paper, we examine the extent that drought impacts the both overall operating costs as well as the cost of reducing CO2 emissions. We model the Alberta and BC interconnected grids varying...
Tipo: Working or Discussion Paper Palavras-chave: Wind power; Carbon costs; Electrical grids; Mathematical programming; Resource /Energy Economics and Policy; Q54; Q41; C61.
Ano: 2010 URL: http://purl.umn.edu/59701
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Energy Access Scenarios to 2030 for the Power Sector in Sub-Saharan Africa AgEcon
Bazilian, Morgan; Nussbaumer, Patrick; Rogner, Hans-Holger; Brew-Hammond, Abeeku; Foster, Vivien; Kammen, Daniel M.; Pachauri, Shonali; Eric, Williams; Howells, Mark; Niyongabo, Philippe; Musaba, Lawrence; O Gallachoir, Brian; Radka, Mark.
In order to reach a goal of universal access to modern energy services in Africa by 2030, consideration of various electricity sector pathways is required to help inform policy-makers and investors, and help guide power system design. To that end, and building on existing tools and analysis, we present several ‘high-level’, transparent, and economy-wide scenarios for the sub-Saharan African power sector to 2030. We construct these simple scenarios against the backdrop of historical trends and various interpretations of universal access. They are designed to provide the international community with an indication of the overall scale of the effort required. We find that most existing projections, using typical long-term forecasting methods for power...
Tipo: Working or Discussion Paper Palavras-chave: Energy Access; Power System Planning; Sub-Saharan Africa; Resource /Energy Economics and Policy; C1; Q41; Q47.
Ano: 2011 URL: http://purl.umn.edu/116904
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Incentives Matter: Assessing Biofuel Policies in the South AgEcon
Miller, J. Corey; Coble, Keith H..
As a result of the increase in the real cost of fossil fuel-based energy in recent years, federal and state governments have taken a more active role in energy policy by creating incentives to develop alternative sources of energy, including biofuels. However, policymakers often become focused on the specific type of energy and not the energy services consumers ultimately value. The lack of recognition of energy as a commodity results in policies that ignore the characteristics of the associated markets: easy entry and exit, no barriers to entry, and sensitivity to changes in supply and demand. Consequently, energy industries may fail to arise because entrepreneurs must be able to account for all costs and earn—at a minimum—a competitive return on the...
Tipo: Journal Article Palavras-chave: Alternative energy; Biofuels; Energy policy; Resource /Energy Economics and Policy; Q41; Q42; Q48.
Ano: 2011 URL: http://purl.umn.edu/113534
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Retrospective Examination of Demand-Side Energy Efficiency Policies AgEcon
Gillingham, Kenneth; Newell, Richard G.; Palmer, Karen L..
Energy efficiency policies are a primary avenue for reducing carbon emissions, with potential additional benefits from improved air quality and energy security. We review literature on a broad range of existing non-transportation energy efficiency policies covering appliance standards, financial incentives, information and voluntary programs, and government energy use (building and professional codes are not included). Estimates indicate these programs are likely to have collectively saved up to 4 quads of energy annually, with appliance standards and utility demand-side management likely making up at least half these savings. Energy Star, Climate Challenge, and 1605b voluntary emissions reductions may also contribute significantly to aggregate energy...
Tipo: Working or Discussion Paper Palavras-chave: Energy efficiency policy; Appliance standards; Information; Incentives; Voluntary programs; Resource /Energy Economics and Policy; Q48; Q41.
Ano: 2004 URL: http://purl.umn.edu/10477
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Response of Cotton to Oil Price Shocks AgEcon
Mutuc, Maria Erlinda M.; Pan, Suwen; Hudson, Darren.
This paper shows that the response of cotton prices in the U.S. to fluctuations in oil prices in the international market may differ greatly depending on whether the increase is driven by demand or supply shocks in the crude oil market. In the long-run, around 3 percent of the variability in cotton prices can be attributed to shocks to global demand for industrial commodities while none can be traced to oil supply shocks.
Tipo: Conference Paper or Presentation Palavras-chave: Cotton; Oil price; Demand shocks; Supply shocks; Structural vector autoregression (SVAR); Agricultural and Food Policy; Demand and Price Analysis; Q11; Q41.
Ano: 2010 URL: http://purl.umn.edu/56425
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PURCHASE BEHAVIOUR RELATED TO HEATING SYSTEMS IN GERMANY WITH SPECIAL CONSIDERATION OF CONSUMERS' ECOLOGICAL ATTITUDES AgEcon
Decker, Thomas; Zapilko, Marina; Menrad, Klaus.
Paper prepared for presentation at the Energy Engineering, Economics and Policy (EEEP) Conference Orlando (USA), 13th July 2009
Tipo: Conference Paper or Presentation Palavras-chave: Consumer behaviour; Germany; Heating systems; Demand and Price Analysis; Q41; R20; M39.
Ano: 2009 URL: http://purl.umn.edu/91300
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Discussion: Revisiting Macroeconomic Linkages to Agriculture: The Impact of Macroeconomic Variables and the Oil Sector on Farm Prices and Income AgEcon
Penson, John B., Jr..
Periodically, events occur in the domestic and global economies that remind agricultural economists that macroeconomics matter. This was evident in the early 1980s when the Federal Reserve responded to double-digit inflation by driving interest rates to post–World War II period highs. The Asian financial crisis in the late 1990s, rising oil prices this past decade, and current stress in domestic and overseas financial markets serve to remind us again that externalities can have an effect on the economic performance and financial strength of U.S. agriculture. These effects are transmitted through interest rates, inflation, unemployment, real gross domestic product, and exchange rates.
Tipo: Journal Article Palavras-chave: Macroeconomics; Linkages; Net farm income; Exchange rates; Interest rates; Real GDP; Agribusiness; Farm Management; Financial Economics; Political Economy; Public Economics; E31; E44; Q41; Q43.
Ano: 2010 URL: http://purl.umn.edu/92583
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Demand and price volatility: rational habits in international gasoline demand AgEcon
Scott, K. Rebecca.
Tipo: Working Paper Palavras-chave: Gasoline demand; Rational habits; Price elasticity; Environmental Economics and Policy; Public Economics; H30; Q40; Q41; Q50; R40.
Ano: 2011 URL: http://purl.umn.edu/121931
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The Costs of U.S. Oil Dependency AgEcon
Parry, Ian W.H.; Darmstadter, Joel.
This paper first describes trends and future predictions of factors that determine U.S. dependence on oil and oil imports. We then review evidence on the oil premium, that is, the extent to which the costs to the United States as a whole from extra oil consumption may exceed the private costs to individual oil users. The premium has two main components: one reflects the risk of macroeconomic disruptions from oil price shocks, while the other stems from U.S. market power in the world oil market. Our best assessment of the oil premium is $5/barrel (equivalent to 12 cents per gallon of gasoline), which would warrant a broad, though moderately scaled, tax on all uses of oil.
Tipo: Working or Discussion Paper Palavras-chave: Energy security; Oil imports; Oil premium; Macroeconomic disruptions; Resource /Energy Economics and Policy; Q43; Q41; Q38.
Ano: 2003 URL: http://purl.umn.edu/10644
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On the Economic Determinants of Oil Production. Theoretical Analysis and Empirical Evidence for Small Exporting Countries AgEcon
Cologni, Alessandro; Manera, Matteo.
In this paper, decisions regarding production in oil exporting countries are studied by means of theoretical analysis and empirical investigation. Under the assumptions of exogenous oil prices and world oil demand, we are able to describe the relationship between oil production levels and changes in the conditions in world oil markets. Intertemporal production decisions by a representative oil producer are modelled by means of a partial equilibrium model. In this theoretical model, oil producers are subject to exogenous shocks in world oil demand and prices. Oil companies can change output levels only by incurring a fixed cost. Results from the simulation of this model show a strong relationship between oil production and changes in world oil consumption....
Tipo: Working or Discussion Paper Palavras-chave: Oil Production; Exogenous Shocks; Theoretical Modelling; Time Series Analysis; Resource /Energy Economics and Policy; C22; D21; D22; Q41.
Ano: 2011 URL: http://purl.umn.edu/115725
Registros recuperados: 42
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