This paper analyzes the effects of oil price shocks on the business cycle of the EU-15 countries using a standard dynamic general equilibrium model for a small open economy in which oil is included as an imported productive input. The results show that oil shocks can account for a significant...

Sharp price fluctuations and increasing environmental and distributional concerns, among other issues, have led to a renewed academic interest in energy demand. In this paper we estimate, for the first time in Spain, an energy demand system with household microdata. In doing so, we tackle...

Most public policies have not only efficiency but also distributional effects. However, there is a kind of trade-off between modeling approaches suitable for calculating each one of these impacts on the economy. For the former, most of the studies have been conducted with general equilibrium...

Los economistas han manifestado desde siempre su preferencia por el uso de los denominados instrumentos o de mercado en las políticas ambientales. Estos mecanismos reciben ese nombre porque, de acuerdo con la teoría económica, permiten precisamente emular el funcionamiento del mercado,...

This paper deals with the effects of emissions trading, a standard economic instrument to control greenhouse gas emissions, in a particular country. After distributing the Kyoto-mandated allocation among member states, the European Commission introduced a rather conventional emissions trading...

In this paper we present a microsimulation model to calculate the effects of a tax levied on Spanish energy-related CO2 (carbon dioxide) emissions in order to comply with EU (Kyoto-mandated) targets. The model uses the results of our prior estimation of a demand system with Spanish household...

Spain faces a complex situation regarding its climate change policies. Since 1990, Spain’s greenhouse gas (GHG) emissions have increased far beyond the Kyoto commitments. Moreover, Spain is likely to suffer significant adverse impacts from climate change. However, there has been little action...