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Council – was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a … final energy consumption, and improved energy efficiency. We find that the renewable and energy-efficiency targets have been …
Persistent link: https://www.econbiz.de/10012892222
interventions on final-use energy consumption, an important driver of carbon emissions. In the model, energy demand is driven by … directed technical change. Energy supply is subject to increasing extraction costs. The model is consistent with aggregate … evidence on energy use, efficiency, and prices in the United States, as well as the standard balanced growth facts. I use the …
Persistent link: https://www.econbiz.de/10013300865
generation that takes into account the variability and intermittency of renewable energy as well as storage. This work sheds … light on the extent to which variability and intermittency constitute a serious obstacle to energy transition and, given … transitioning to a clean energy mix, as well as the role climate policy can play in facilitating both the growth of renewables and …
Persistent link: https://www.econbiz.de/10012892147
-load technologies competes against a fringe of renewable energy (RE) generators. The optimal technology and electricity mix can be … decentralised by levying technology-dependent capacity taxes/subsidies in addition to technology-/state-dependent emission taxes …
Persistent link: https://www.econbiz.de/10014347015
A simple integrated assessment framework that gives rules for the optimal carbon price, transition to the carbon-free era and stranded carbon assets is presented, which highlights the ethical, economic, geophysical and political drivers of optimal climate policy. For the ethics we discuss the...
Persistent link: https://www.econbiz.de/10012908688
The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth...
Persistent link: https://www.econbiz.de/10012892228
This paper studies the investment based growth rate effects of climate change. The analysis is based on the Integrated Assessment Model DICE by Nordhaus (2008). I depart from the original model, in that endogenous investments into a knowledge stock drive economic growth. Due to a negative...
Persistent link: https://www.econbiz.de/10012865176
The social cost of carbon is the central economic measure for aggregate climate change damages and functions as a metric for optimal carbon prices. Previous literature shows that inequality significantly influences the level of the social cost of carbon, but mostly neglects a major source of...
Persistent link: https://www.econbiz.de/10012870643
Climate policies to keep global warming below 2℃ might render some of the world's fossil fuels and related … infrastructure worthless prior to the end of their economic life time. Therefore, some energy-sector assets are at risk of becoming … valuation of energy utilities. We find that investors take stranded asset risk into consideration, but that they also expect a …
Persistent link: https://www.econbiz.de/10012859044
This paper sheds light on the apparent paradox, wherein populations adversely affected by climatic conditions fail to migrate as much as would otherwise be expected. Drawing on Hirschman's treatise on Exit, Voice and Loyalty, we develop a simple model, which highlights the theoretical case for a...
Persistent link: https://www.econbiz.de/10012861443