We examine the performance attributes of a merchant transmission investment framework that relies on market driven' transmission investment to provide the infrastructure to support competitive wholesale markets for electricity. Under a stringent set of assumptions, the merchant investment model...

The phasedown of coal for electricity generation is considered vital to meeting global climate targets. Many countries have pledged to stop using coal, with some as early as 2030. While the United States has no target currently in place, several states do. In this paper, we examine the...

Using new measures of expanded Internet access in China and internet-based search, we examine how competitive shocks from China impact U.S. innovation through the markets for innovation and existing products. We identify shocks to innovation competition using the geography of Chinese internet...

The U.S. regulation of high-voltage transmission is highly complex and, as a result, generally poorly understood. The complexity is created by separate, but overlapping, jurisdictional authorities of the U.S. federal regulators and those of individual states, districts, and territories. While...

Growing amounts of intermittent renewable generation capacity substantially increases the complexity of determining whether sufficient energy will be available to meet hourly demands throughout the year. As the events of August 2020 in California and February 2021 in Texas demonstrate, supply...

Decarbonization and electrification will require a transformed electricity grid. Our long-run model of entry and exit of generation and storage capacity captures crucial aspects of the electricity industry such as time-varying demand for electricity, intermittency of renewables, and...