The paper examines long-term strategies of capital modernization under different assumptions about embodied technological change, energy regulation, and substitutability between energy and capital. To describe modernization of physical capital, the authors use a vintage capital model with the...

Access to modern energy is believed to be a prerequisite for sustainable development, poverty alleviation and the achievement of the Millennium Development Goals.

This paper applies a computable general equilibrium model to investigate the impacts of a carbon tax on China's economy and carbon emissions based on China's 2010 Input–Output Table. To obtain robust simulation results, we further disaggregate the energy sectors into eight departments...

Transmission of price shocks from one market to another one has long been investigated in the economic literature. However, studies have namely dealt with the relationship between financial and energy markets. With the recent changes in market conditions, investors, policy-makers and interest...

The aim of this paper is to show the benefit of applying a moment matching technique to the short leg component in order to price and hedge multi-asset spread options: in particular, we approximate the real dynamics of the short leg component by taking a log-normal proxy, whose equivalent...

This paper investigates trends in energy intensity over the last 40years. Based on a sample of 75 countries, it applies the Fisher Ideal Index to decompose the energy intensity into the relative contributions of energy efficiency and economic structure. Then, the determinants of these energy...

In this paper we investigate the relationship between the energy intensity of Chinese cities and the location of foreign firms employing a unique dataset of 206 of the largest prefecture-level cities between 2005 and 2008. Our results reveal a non linear inverted-U shaped relationship between...

The differentiation in the impact of resources on economic growth is often explained by the specifics of institutional factors. The aim of this paper is to investigate how sub-national political differences influence the effect of natural resources on economic growth. Using a dataset of Russian...

This paper presents evidence that household energy use in Uganda conforms to the energy ladder theory. As household income increases, solid and transitional fuel use evolves in an inverse U manner, while electricity consumption shows a direct relationship with income. Public infrastructure...

In this paper, a difference-in-differences estimator on panel data for 30 developing and 21 industrialized countries is employed over the period 1971–2005 to examine how patterns of energy use (characterized by the consumption of primary energy carriers, sectoral energy use and carbon...