We build an equilibrium model of commodity markets in which speculators are capital constrained, and commodity producers have hedging demands for commodity futures. Increases in producers' hedging demand or speculators' capital constraints increase hedging costs via price-pressure on futures....

Nell’ambito di ricerche volte allo studio del mantenimento della stabilità ecologica e della conservazione della biodiversità di un sistema ambientale, uno strumento utile alla valutazione della frammentazione di un territorio è il cosiddetto grafo ecologico. La costruzione di...

The import risks confronting oil consumers are influenced by transport conditions, oil prices, geopolitics, etc. This paper constructs an evaluation framework for oil import security from a perspective of supply chain process, and builds a two-phase DEA-like model to evaluate oil import...

In the last 10years, thanks to the worldwide energy liberalization process, the birth of competitive gas markets and the recent financial crisis, traditional long term swing contracts in Europe have been supplemented in a significant way by make-up clauses which allow postponing the withdrawal...

‘Complete decomposition’ technique was used to examine CO2 emissions intensity and its components, considering 36 economic sectors and the 1996–2009 period. Additionally, Innovative Accounting Approach was implemented, that includes forecast error variance decomposition and impulse...

This paper analyzes the energy efficiency of China's 30 administrative regions during the period from 1997 to 2010. Most existing studies ignored the variation of production technologies among regions in China. Taking this factor into account, we introduce a parametric metafrontier approach...

Sahelian developing countries depend heavily on oil-import for the supply of their increasing energy demand. This setup leads to an imbalance in the balance of payment, an increase of debt and budget asphyxia, whereas renewable resources are widely and abundantly available. The objective of this...

The Integrated Energy and Climate Protection Program of the German government includes the political target of doubling the share of combined heat and power generation (CHP) in Germany from currently about 13% to 25% by 2020. In order to reach this goal, a new CHP law was enacted to improve the...

This paper examines the relative influence of energy prices on several environmental practices at firm level among SMEs. To that aim, we explore an EU-wide data-set providing information for 5194 SMEs in 27 European countries. We distinguish between recycling and purchasing and/or development of...

Policies, markets, and technologies interact to create the modern electrical system. Integrating large amounts of electricity generated by variable renewable resources, such as from wind and sunlight, into electricity systems may require energy storage technologies to synchronize electricity...