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Registros recuperados: 92
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The Next Generation of Market-Based Environment Policies AgEcon
Stavins, Robert N.; Whitehead, Bradley W..
We examine what will be required if market-based environmental policy instruments are to become a major force in U.S. environmental policy. We define market-based instruments, and specify five categories: pollution charges; tradable permits; deposit refund systems; reducing market barriers; and eliminating government subsidies. We review major U.S. applications, including: EPA's emissions trading program; the leaded gasoline phasedown; water quality permit trading; CFC trading; SO2 allowance trading; and the RECLAIM program. We assess the U.S. experience in terms of the relatively limited use of these instruments and in terms of the mixed record of performance of implemented instruments. We ask how the next generation of market-based instruments can be...
Tipo: Working or Discussion Paper Palavras-chave: Environmental Economics and Policy; Q28; Q48.
Ano: 1996 URL: http://purl.umn.edu/10640
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Interaction of European Carbon Trading and Energy Prices AgEcon
Bunn, Derek W.; Fezzi, Carlo.
This paper addresses the economic impact of the EU Emission Trading Scheme for carbon on wholesale electricity and gas prices. Specifically, we analyse the mutual relationships between electricity, gas and carbon prices in the daily spot markets in the United Kingdom. Using a structural co-integrated VAR model, we show how the prices of carbon and gas jointly influence the equilibrium price of electricity. Furthermore, we derive the dynamic pass-trough of carbon into electricity price and the response of electricity and carbon prices to shocks in the gas price.
Tipo: Working or Discussion Paper Palavras-chave: Carbon Emission Trading; Energy Markets; Structural VECM; Resource /Energy Economics and Policy; Q48; L94; C32.
Ano: 2007 URL: http://purl.umn.edu/9092
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The U.S. Proposed Carbon Tariffs, WTO Scrutiny and China’s Responses AgEcon
Zhang, ZhongXiang.
With countries from around the world set to meet in Copenhagen to try to hammer out a post-2012 climate change agreement, no one would disagree that a U.S. commitment to cut greenhouse gas emissions is essential to such a global pact. However, despite U.S. president Obama’s recent announcement to push for a commitment to cut U.S. greenhouse gas emissions by 17% by 2020, in reality it is questionable whether U.S. Congress will agree to specific emissions cuts, although they are not ambitious at all from the perspectives of both the EU and developing countries, without the imposition of carbon tariffs on Chinese products to the U.S. market, even given China’s own recent announcement to voluntarily seek to reduce its carbon intensity by 40-45% over the same...
Tipo: Working or Discussion Paper Palavras-chave: Post-2012 Climate Negotiations; Border Carbon Adjustments; Carbon Tariffs; Emissions Allowance Requirements; Cap-And-Trade Regime; Lieberman-Warner Bill; Waxman-Markey Bill; World Trade Organization; Kyoto Protocol; China; United States; Environmental Economics and Policy; F18; Q48; Q54; Q56; Q58.
Ano: 2010 URL: http://purl.umn.edu/60682
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Efficiency and Distributional Impacts of Tradable White Certificates Compared to Taxes, Subsidies and Regulations AgEcon
Giraudet, Louis-Gaetan; Quirion, Philippe.
Tradable White Certificates (TWC) schemes, also labelled Energy-Efficiency Certificates schemes, were recently implemented in Great Britain, Italy and France. Energy suppliers have to fund a given quantity of energy efficiency measures, or to buy so-called "white certificates" from other suppliers who exceed their target. We develop a partial equilibrium model to compare TWC schemes to other policy instruments for energy efficiency, i.e., energy taxes, subsidies on energy-saving goods and regulations fixing a minimum level of energy-efficiency. The model features an endogenous level of energy service and we analyse the influence of the substitutability between energy and energy-saving goods to produce the energy service, as well as the influence of the...
Tipo: Working or Discussion Paper Palavras-chave: Energy Saving Policies; Energy-Efficiency Certificates; White Certificates; Rebound Effect; Resource /Energy Economics and Policy; Q38; Q48; Q58.
Ano: 2008 URL: http://purl.umn.edu/46554
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Alternative Land Use Policies: Real Options with Costly Reversibility AgEcon
Song, Feng; Zhao, Jinhua; Swinton, Scott M..
This paper adopts a real options framework to evaluate the cost-effectiveness of four types of subsidies that aim to encourage a socially desirable land use under return uncertainties and costly reversibility of land use change. We first present a land conversion model to show how the subsidies that are expected net present value (ENPV) equivalent can change a representative farmer’s optimal land conversion rules differently for converting land into an alternative use as well as converting out of it. This is because these subsidies affect the land conversion costs, land return level and uncertainty differently. Then in the context of encouraging energy crop production, we compare the probabilities of inducing the representative farmer to convert land from...
Tipo: Conference Paper or Presentation Palavras-chave: Monte Carlo simulations; Real options; Agricultural subsidies; Cost-effectiveness; Two-way land conversion; Agricultural and Food Policy; Resource /Energy Economics and Policy; Q24; Q48.
Ano: 2010 URL: http://purl.umn.edu/61510
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Biofuel Economics in a Setting of Multiple Objectives & Unintended Consequences AgEcon
Jaeger, William K.; Egelkraut, Thorsten M..
This paper examines biofuels from an economic perspective and evaluates the merits of promoting biofuel production in the context of the policies’ multiple objectives, life-cycle implications, pecuniary externalities, and other unintended consequences. The policy goals most often cited are to reduce fossil fuel use and to lower greenhouse gas emissions. But the presence of multiple objectives and various indirect effects complicates normative evaluation. To address some of these complicating factors, we look at several combinations of policy alternatives that achieve the same set of incremental gains along the two primary targeted policy dimensions, making it possible to compare the costs and cost-effectiveness of each combination of policies. For example,...
Tipo: Working or Discussion Paper Palavras-chave: Biofuel; Biodiesel; Cost-Effectiveness; Indirect Land Use Change Effects; Net Energy; Multiple Objectives; Ethanol; Ghg; Resource /Energy Economics and Policy; Q42; Q48; Q54.
Ano: 2011 URL: http://purl.umn.edu/108203
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The Near-Term Impacts of Carbon Mitigation Policies on Manufacturing Industries AgEcon
Morgenstern, Richard D.; Ho, Mun S.; Shih, Jhih-Shyang; Zhang, Xuehua.
Who will pay for new policies to reduce carbon dioxide and other greenhouse gas emissions in the United States? This paper considers a slice of the question by examining the near-term impact on domestic manufacturing industries of both upstream (economy-wide) and downstream (electric power industry only) carbon mitigation policies. Detailed Census data on the electricity use of four-digit manufacturing industries is combined with input-output information on interindustry purchases to paint a detailed picture of carbon use, including effects on final demand. This approach, which freezes capital and other inputs at current levels and assumes that all costs are passed forward, yields upper-bound estimates of total costs. The results are best viewed as...
Tipo: Working or Discussion Paper Palavras-chave: Distribution of carbon mitigation costs; Industrial impacts of carbon policies; Environmental Economics and Policy; Q28; Q48.
Ano: 2002 URL: http://purl.umn.edu/10706
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Should Corporate Average Fuel Economy (CAFE) Standards Be Tightened? AgEcon
Parry, Ian W.H.; Fischer, Carolyn; Harrington, Winston.
This paper develops analytical models to estimate the welfare effects of higher Corporate Average Fuel Economy (CAFE) standards on new passenger vehicles. The analysis incorporates a broad range of fuel-and-driving-related externalities, fuel taxes, different assumptions concerning consumers' valuation of fuel saving technologies and their alternative value in enhancing other vehicle attributes, and endogenous vehicle fleet composition. To implement the analysis, we develop estimates of CAFE's impact on local pollution, nationwide congestion, and traffic accidents. We find that higher fuel economy standards can produce anything from moderate welfare gains, to very little or no effect, to substantial welfare losses, depending on how consumers value fuel...
Tipo: Working or Discussion Paper Palavras-chave: Fuel economy standards; Oil dependency; Carbon emissions; Rebound effect; Gasoline tax; Resource /Energy Economics and Policy; R48; Q48; H23.
Ano: 2004 URL: http://purl.umn.edu/10605
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Climate Change Meets Trade in Promoting Green Growth: Potential Conflicts and Synergies AgEcon
Zhang, ZhongXiang.
To date, border adjustment measures in the form of emissions allowance requirements (EAR) under the U.S. proposed cap-and-trade regime are the most concrete unilateral trade measure put forward to level the carbon playing field. If improperly implemented, such measures could disturb the world trade order and trigger a trade war. Because of these potentially far-reaching impacts, this paper focuses on this type of unilateral border adjustment, which requires importers to acquire and surrender emissions allowances corresponding to the embedded carbon contents in their goods from countries that have not taken climate actions comparable to that of home country. This discussion is mainly on the legality of unilateral EAR under the WTO rules. Given that the...
Tipo: Working or Discussion Paper Palavras-chave: Post-2012 climate negotiations; Border carbon adjustments; Carbon tariffs; Emissions allowance requirements; Cap-and-trade regime; Lieberman-Warner bill; Waxman-Markey bill; World Trade Organization; Kyoto Protocol; Developing countries; United States; Environmental Economics and Policy; F18; Q48; Q54; Q56; Q58.
Ano: 2010 URL: http://purl.umn.edu/59475
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The Induced Innovation Hypothesis and Energy-Saving Technological Change AgEcon
Newell, Richard G.; Jaffe, Adam B.; Stavins, Robert N..
We develop a methodology for testing Hick's induced innovation hypothesis by estimating a product-characteristics model of energy-using consumer durables, augmenting the hypothesis to allow for the influence of government regulations. For the products we explored, the evidence suggests: (i) the rate of overall innovation was independent of energy prices and regulations, (ii) the direction of innovation was responsive to energy price changes for some products but not for others, (iii) energy price changes induced changes in the subset of technically feasible models that were offered for sale, (iv) this responsiveness increased substantially during the period after energy-efficiency product labeling was required, and (v) nonetheless, a sizeable portion of...
Tipo: Working or Discussion Paper Palavras-chave: Induced innovation; Energy efficiency; Technological change; Economic incentives; Regulation; Standards; Climate change; Resource /Energy Economics and Policy; L51; O31; O38; Q40; Q20; Q48.
Ano: 1998 URL: http://purl.umn.edu/10521
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The Benefits of Reduced Air Pollutants in the U.S. from Greenhouse Gas Mitigation Policies AgEcon
Burtraw, Dallas; Toman, Michael.
Policies that reduce emissions of greenhouse gases can simultaneously alter emissions of conventional pollutants that have deleterious effects on human health and the environment. This paper first describes how these "ancillary" benefits--benefits in addition to reduced risks of climate change--can result from greenhouse gas (GHG) mitigation efforts. It then discusses methodologies for assessing ancillary benefits and provides a critical review of estimates associated with reductions of criteria air pollutants. We find that these benefits in the U.S. may be significant, indicating a higher level of "no regrets" greenhouse gas abatement than might be expected based on simple economic calculations of abatement cost. However, the magnitude of ancillary...
Tipo: Working or Discussion Paper Palavras-chave: Climate change; Greenhouse gas; Ancillary benefits; Air pollution; Co-control benefits; Environmental Economics and Policy; H23; I18; Q48.
Ano: 1997 URL: http://purl.umn.edu/10496
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Wind Power Development: Opportunities and Challenges AgEcon
van Kooten, G. Cornelis; Timilsina, Govinda R..
In this study, the prospects of wind power at the global level are reviewed. Existing studies indicate that the earth’s wind energy supply potential significantly exceeds global energy demand. Yet, only 1% of the global electricity demand is currently derived from wind power despite 40% annual growth in wind generating capacity over the last 25 years. More than 98% of total current wind power capacity is installed in the developed countries plus China and India. Existing studies estimate that wind power could supply 7% to 34% of global electricity needs by 2050. Wind power faces a large number of technical, financial, institutional, market and other barriers. To overcome these, many countries have employed various policy instruments, including capital...
Tipo: Working or Discussion Paper Palavras-chave: Wind energy; Renewable energy; Electricity grids; Resource /Energy Economics and Policy; Q25; Q32; Q42; Q48.
Ano: 2008 URL: http://purl.umn.edu/45665
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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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Market-Based Approaches to CO2 Emissions: Implications for Agriculture AgEcon
Raymond, Leigh; Shively, Gerald E..
Tipo: Journal Article Palavras-chave: Environmental Economics and Policy; H00; Q28; Q48.
Ano: 2008 URL: http://purl.umn.edu/94505
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Read the Label! Energy Star Appliance Awareness and Uptake Among U.S. Consumers AgEcon
Murray, Anthony G.; Mills, Bradford F..
The Energy Star label program to promote the diffusion of energy efficient home appliances is arguably the most significant government effort to reduce U.S. residential energy consumption. Program effectiveness requires that consumers are aware of the labeling scheme and also change their purchase decisions based on label information. This paper examines the factors associated with consumer awareness of the Energy Star label of recently purchased ‘white’ major appliances and the factors associated with the choice of Energy Star labeled appliances. The paper finds that household characteristics have a much stronger association with consumers awareness of labels than with the choice of Energy Star appliances. Renting the home, Hispanic ethnicity, being poor...
Tipo: Conference Paper or Presentation Palavras-chave: Energy Star; Household Energy Efficiency; Technology Adoption; Consumer/Household Economics; Resource /Energy Economics and Policy; O33; Q40; Q48.
Ano: 2011 URL: http://purl.umn.edu/103328
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The Impact of Low Income Home Energy Assistance Program (LIHEAP) Participation on Household Energy Insecurity AgEcon
Murray, Anthony G.; Mills, Bradford F..
Tipo: Presentation Palavras-chave: LIHEAP; Energy Security; Program Evaluation; Resource /Energy Economics and Policy; Q48.
Ano: 2012 URL: http://purl.umn.edu/123968
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EPA MANDATE WAIVERS CREATE NEW UNCERTAINTIES IN BIODIESEL MARKETS AgEcon
Thompson, Wyatt; Meyer, Seth D..
Tipo: Journal Article Palavras-chave: Biodiesel; Biofuel Mandate; Waivers; Resource /Energy Economics and Policy; Q11; Q16; Q42; Q48.
Ano: 2011 URL: http://purl.umn.edu/109485
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Agriculture and Greenhouse Gas Cap-and-Trade AgEcon
Adams, Damian C..
Tipo: Report Palavras-chave: Environmental Economics and Policy; International Relations/Trade; Q18; Q48; Q54.
Ano: 2009 URL: http://purl.umn.edu/93679
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A Theory of Dynamic Biofuel Tax Credit AgEcon
Ye, Fanglin; Lu, Liang; Du, Xiaoxue.
In this paper, we set up a social cost minimization problem for a government. Using dynamic optimization tools, we analytically shows how exogenous parameters could affect the optimal social cost and the optimal tax credit policy path.
Tipo: Presentation Palavras-chave: Optimal Control; Biofuel; Tax Credit; Environmental Economics and Policy; Resource /Energy Economics and Policy; Q42; Q48.
Ano: 2012 URL: http://purl.umn.edu/123750
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Conditions Necessary for Private Investment in the Ethanol Industry AgEcon
Kenkel, Philip L.; Holcomb, Rodney B..
While agricultural economics literature has become rife with the economics of ethanol production and cellulosic ethanol feedstock production, little has been written about capital investment necessary for the magnitude of industry development mandated by the Energy Security and Independence Act of 2007. Financing the development of the ethanol industry to meet the 36 billion gallon production capacity set for 2022 (with 16 billion gallons from cellulosic ethanol) will require capital investments exceeding $100 billion for production facilities, plus extensive investment in feedstock establishment and transportation/handling infrastructure. Federal support associated with political mandates does not address all of the financial issues related with the...
Tipo: Journal Article Palavras-chave: Biofuel policy; Cellulosic ethanol; Industry legitimacy; Private investment; Agribusiness; Agricultural Finance; Crop Production/Industries; Resource /Energy Economics and Policy; Q13; Q42; Q43; Q48.
Ano: 2009 URL: http://purl.umn.edu/53092
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