We assess the impact of photovoltaic power plants and other renewable sources on the electricity supply curve in the Czech Republic. The merit order effect is estimated as the elasticity of electricity spot price with respect to change in supply of electricity from renewable sources. Data for...

We review the fuel-food price linkage models of the time series, structural, and general or partial equilibrium nature with the main attention devoted to the time series literature. Our assessment is nested in the discussion of general commodity prices co-movement on one side and in the...

This paper replicates and extends the study of Zhang et al. (2010): “Food versus fuel: What do prices tell us?” Energy Policy 38, pp. 445-451. We confirm the findings of the original paper that there was only a weak relationship between ethanol and food commodities in the period between...

The impacts of renewable energy production and German nuclear phase-out on the electricity transmission systems in Central Europe is investigated with focus on the disparity between the growth of renewable production and the pace at which new electricity transmission lines have been built,...

In this paper, we investigate how the regulatory stress test framework in the European Union affects banks' investment decisions and portfolio choices. Using the causal inference and event study methodology, we document a substantial impact of EU-wide stress tests in 2011, 2014 and 2016 on the...

This paper introduces residual shape risk as a new subclass of energy commodity risk. Residual shape risk is caused by insufficient liquidity of energy forward market when retail energy supplier has to hedge his short sales by a non-flexible standard baseload product available on wholesale...

This paper focuses on the influence of increased wind and solar power production on the transmission networks in Central Europe. To assess the exact impact on the transmission grid, the direct current load flow model ELMOD is employed. Two development scenarios for the year 2025 are evaluated on...

In the past decades financial markets rapidly gained on complexity due to an increased demand for risk diversification and hedging. A number of sophisticated instruments was developed that capture various aspects of price movements, correlations of assets, macro-economic developments, and other...

We examine potential selective reporting (publication bias) in the literature on the social cost of carbon (SCC) by conducting a meta-analysis of 809 estimates of the SCC reported in 101 studies. Our results indicate that estimates for which the 95% confidence interval includes zero are less...

This paper analyses Slovak electricity market with a focus on photovoltaic energy. It evaluates the impact of the solar electricity penetration into electricity mix on spot prices, seeks evidence of the merit order effect in the Slovak electricity market and quantifies it based on hourly data....