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Traditional least squares estimates of the responsiveness of gasoline consumption to changes in gasoline prices are biased toward zero, given the endogeneity of gasoline prices. A seemingly natural solution to this problem is to instrument for gasoline prices using gasoline taxes, but this...
Persistent link: https://www.econbiz.de/10011184084
The run-up in oil prices since 2004 coincided with growing investment in commodity markets and increased price comovement among different commodities. We assess whether speculation in the oil market played a role in driving this salient empirical pattern. We identify oil shocks from a large...
Persistent link: https://www.econbiz.de/10011084143
. We analyze the optimal time of transition from fossil fuel to renewables, amount of fossil fuel to leave in situ, and … phasing in of renewables, but fossil fuel is depleted more quickly. Global warming need thus not be alleviated. …
Persistent link: https://www.econbiz.de/10008854461
natural gas, and finally nuclear power and modern renewables such as wind power, for their electricity needs as they develop …. The extent to which countries climb the electricity ladder is dependent on energy endowments. The results imply that the … environmental implications of economic development differ in countries with different energy resource endowments. An effective …
Persistent link: https://www.econbiz.de/10008515763
The paper is concerned with the empirical modelling of domestic demand for energy in the United Kingdom at the level of …-stage budgeting model of the household's demand for energy conditional on its ownership of durables. Preferences at both stages of the … data has not been fully exploited in the analysis of energy demand to date. Unrestricted reduced-form estimates are …
Persistent link: https://www.econbiz.de/10005497752
This paper examines future energy and emissions scenarios in China generated by the Integrated Assessment Model WITCH …
Persistent link: https://www.econbiz.de/10011084331
We study how industry-level agglomeration economies affect government policy. Using administrative data on firm …
Persistent link: https://www.econbiz.de/10011272712
into large cities, because large cities select more productive entrepreneurs and firms, or because of agglomeration … between them. The model can replicate stylised facts about sorting, agglomeration, and selection in cities. It can also …
Persistent link: https://www.econbiz.de/10008554236
show that there exists a path of stable equilibria such that the industry, first, experiences progressive agglomeration … of the increasing urban costs associated with the process of agglomeration. …
Persistent link: https://www.econbiz.de/10005123704
Lancasterian models of product differentiation typically assume a one-dimensional characteristics space. We show that standard results on prices and locations no longer hold when firms compete in a multi-characteristics space. In the location game with n characteristics, firms choose to maximize...
Persistent link: https://www.econbiz.de/10005123740