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When nudges fail to scale : field experimental evidence from goal setting on mobile phones
Löschel, Andreas; Rodemeier, Matthias; Werthschulte, … - 2020
interventions can be scaled up. In cooperation with a large public utility in Germany, we develop an energy savings application for … set themselves energy consumption targets. The roll-out of the app is promoted by a mass-marketing campaign and large … financial incentives. Results document low demand for the energy app in the general population and a tightly estimated null …
Persistent link: https://www.econbiz.de/10012260629
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Can bitcoin mining increase renewable electricity capacity?
Bruno, August; Weber, Paige; Yates, Andrew J. - 2022
Proponents of Bitcoin argue that demand for electricity from Bitcoin miners can lead to an increase in renewable … electricity capacity. We rigorously evaluate this claim by estimating a Bitcoin electricity demand curve and include this demand … curve in a long-run model of the Texas electricity market. We find that while Bitcoin mining can indeed increase renewable …
Persistent link: https://www.econbiz.de/10013383628
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Testing for convergence in stock markets : a non-linear factor approach
Caporale, Guglielmo Maria; Erdogan, Burcu; Kuzin, Vladimir - 2009
This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the...
Persistent link: https://www.econbiz.de/10003898817
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Optimality and diversifiability of mean variance and arbitrage pricing portfolios
Pesaran, M. Hashem; Zaffaroni, Paolo - 2009
This paper investigates the limit properties of mean-variance (mv) and arbitrage pricing (ap) trading strategies using a general dynamic factor model, as the number of assets diverge to infinity. It extends the results obtained in the literature for the exact pricing case to two other cases of...
Persistent link: https://www.econbiz.de/10003910456
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Stock market linkages between the ASEAN countries, China and the US : a fractional cointegration approach
Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; You, Kefei - 2019
This paper examines stock market integration between the ASEAN five and the US and China, respectively, over the period from November 2002 to March 2018. The linkages between both aggregate and financial sector stock indices (both weekly and monthly) are analysed using fractional integration and...
Persistent link: https://www.econbiz.de/10011982404
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Stock market integration in Asia : global or regional? : evidence from industry level panel convergence tests
Caporale, Guglielmo Maria; You, Kefei - 2017
This paper examines global and regional stock market integration in Asia at both the aggregate and disaggregate (industry) level by applying the Phillips-Sul (2007) tests for panel and club convergence. The main findings can be summarised as follows. In the pre-2008 crisis period, no...
Persistent link: https://www.econbiz.de/10011658042
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Changing electricity markets : quantifying the price effects of greening the energy matrix
Kohlscheen, Emanuel; Moessner, Richhild - 2022 - Original Version: June 2022, this version: July 2022
green the energy matrix on retail electricity prices are first order. CO2 permit prices strongly impact electricity prices … (particularly for baseload prices). Among energy sources, natural gas has the largest effect on electricity prices. Importantly, the …We analyse the drivers of European Power Exchange (EPEX) retail electricity prices between 2012 and early 2022 using …
Persistent link: https://www.econbiz.de/10013262773
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Energy contagion analysis : a new perspective with application to a small petroleum economy
Mahadeo, Scott M. R.; Heinlein, Reinhold; Legrenzi, … - 2018
We put forward the novel concept of energy contagion, i.e. a deepening of energy-finance linkages under crisis periods … in energy markets, and test for this using standard correlation measures and recently proposed adjusted correlation, co … and crisis conditions in the international crude oil market, we are able to compare how various co-moments in the energy …
Persistent link: https://www.econbiz.de/10011922053
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The existence of informationally efficient markets when individuals are rational
Muendler, Marc-Andreas - 2004
A rational-expectations equilibrium with positive demand for financial information does exist under fully revealing asset price - contrary to a wide-held conjecture. Generalizing the common additive signal-return model with CARA utility to the family of distributions with moment generating...
Persistent link: https://www.econbiz.de/10011451345
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Oil exports and the Iranian economy
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2009
This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...
Persistent link: https://www.econbiz.de/10003897747