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The Dependence Structure between Carbon Emission Allowances and Financial Markets - A Copula Analysis

Gronwald, Marc; Ketterer, Janina; Trück, Stefan - CESifo - 2011

This paper applies different copulas in order to investigate the complex dependence structure between EU emission allowance (EUA) futures returns and those of other commodities, equity and energy indices. The analysis yields important insights into the relationship between carbon, commodities...

Persistent link: https://www.econbiz.de/10008914281

Too Little Oil, Too Much Coal: Optimal Carbon Tax and when to Phase in Oil, Coal and Renewables

Ploeg, Frederick Van der; Withagen, Cees A. - CESifo - 2011

Our main message is that it is optimal to use less coal and more oil once one takes account of coal being a backstop …-only phase, a less-steeply rising carbon tax during the intermediate phase where oil and coal are used alongside each other and … the following coal-only phase, and a flat carbon tax during the final renewables-only phase. The “laissez-faire” outcome …

Persistent link: https://www.econbiz.de/10009221555

Optimal Carbon Tax with a Dirty Backstop - Oil, Coal, or Renewables?

Ploeg, Frederick Van der; Withagen, Cees - CESifo - 2011

Optimal climate policy is studied. Coal, the abundant resource, contributes more CO2 per unit of energy than the … exhaustible resource, oil. We characterize the optimal sequencing oil and coal and departures from the Herfindahl rule …. “Preference reversal” can take place. If coal is very dirty compared to oil, there is no simultaneous use. Else, the optimal …

Persistent link: https://www.econbiz.de/10008833876

Bush Meets Hotelling: Effects of Improved Renewable Energy Technology on Greenhouse Gas Emissions

Hoel, Michael - CESifo - 2008

Fossil fuels are non-renewable carbon resources, and the extraction path of these resources depends both on present and future demand. When this "Hotelling feature" is taken into consideration, the whole price path of carbon fuel will shift downwards as a response to the reduced cost of the...

Persistent link: https://www.econbiz.de/10005765659

Environmental and Technology Policy Options in the Electricity Sector: Interactions and Outcomes

Fischer, Carolyn; Newell, Richard G.; Preonas, Louis - CESifo - 2014

Myriad policy measures aim to reduce greenhouse gas emissions from the electricity sector, promote generation from renewable sources, and encourage energy conservation. To what extent do innovation and energy efficiency (EE) market failures justify additional interventions when a carbon price is...

Persistent link: https://www.econbiz.de/10010764280

The Supply Side of CO2 with Country Heterogeneity

Hoel, Michael - CESifo - 2011

Several recent articles have analyzed climate policy giving explicit attention to the non-renewable character of carbon resources. In most of this literature the economy is treated as a single unit, which in the context of climate policy seems reasonable to interpret as the whole world. However,...

Persistent link: https://www.econbiz.de/10008914283

Subsidizing Renewable Energy under Capital Mobility

Eichner, Thomas; Runkel, Marco - CESifo - 2010

This paper provides a rationale for subsidizing green (renewable) energy production. Within a multi-country model where energy is produced with mobile capital in green and dirty production, we investigate the countries’ decentralized choice of emissions taxes and green energy subsidies....

Persistent link: https://www.econbiz.de/10008671715

Cutting Costs of Catching Carbon - Intertemporal Effects under Imperfect Climate Policy

Hoel, Michael; Jensen, Svenn - CESifo - 2010

We use a two-period model to investigate intertemporal effects of cost reductions in climate change mitigation technologies for the power sector. With imperfect climate policies, cost reductions related to carbon capture and storage (CCS) may be more desirable than com-parable cost reductions...

Persistent link: https://www.econbiz.de/10008833920