Showing 1 - 10 of 136
The COVID-19-triggered collapse in oil prices in March and April 2020 was the seventh, and by far the most severe, in a series of such collapses since 1970. This paper, first, compares this most recent collapse and its drivers with previous ones in an event study. It finds that it was associated...
Persistent link: https://www.econbiz.de/10014093571
This paper provides new results to the literature, showing that output flexibility in oil production depends on the extraction technology. In particular, constructing a novel well-level monthly production data set covering more than 16,000 crude oil wells in North Dakota, we find supply...
Persistent link: https://www.econbiz.de/10014104785
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...
Persistent link: https://www.econbiz.de/10012961596
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....
Persistent link: https://www.econbiz.de/10012919590
This article provides a financial survey of a small sample of Czech photovoltaic (PV) plants. To evaluate the extent of market losses, we calculate the shadow market price of solar electricity. From the profit and loss accounts of the PV plants and the shadow market price we estimate the total...
Persistent link: https://www.econbiz.de/10013063246
The current account in developed countries is highly persistent and volatile in comparison to their output growth. The standard intertemporal current account model with rational expectations (RE) fails to explain the observed current account and consumption dynamics. The RE model extended with...
Persistent link: https://www.econbiz.de/10012908417
Continued automation and declines in low-skill shares of GDP have been widespread globally and linked to inequality. We examine the long-term, global consequences of policies that foster automation or address the distributional consequences of it, using a six-region global macro model. Results...
Persistent link: https://www.econbiz.de/10012911012
We estimate a three-country model using 1995-2013 data for Germany, the Rest of the Euro Area (REA) and the Rest of the World (ROW) to analyze the determinants of Germany's current account surplus after the launch of the Euro. The most important factors driving the German surplus were positive...
Persistent link: https://www.econbiz.de/10013054630
This paper examines the contributions of foreign growth (particularly in China), on Japan's domestic economic performance and inequality. While the standard approach to external sources of inequality has emphasized transmission through trade and labor markets, here the emphasis is on financial...
Persistent link: https://www.econbiz.de/10012993239
While population has been aging globally, regions and countries are significantly asymmetric in the timing and speed of the demographic transitions, especially between developed and developing regions. This paper explores the impacts of asymmetric demographic change on international capital...
Persistent link: https://www.econbiz.de/10013212954