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The electricity reform in Colombia has exhibited gains in terms of reliability but its effects on firm efficiency and service quality have not been clear. Previous studies evaluating the performance of distribution companies after the reform have not found evidence of improvements, although...
Persistent link: https://www.econbiz.de/10011115884
This paper analyses the technical efficiency of Chinese fossil-fuel electricity generation companies from 1999 to 2011, using a Bayesian stochastic frontier model. The results reveal that efficiency varies among the fossil-fuel electricity generation companies that were analysed. We also focus...
Persistent link: https://www.econbiz.de/10011208300
Regulatory regimes that have increased household energy efficiency are of widespread interest to policymakers today. A prominent example is the state of California where electricity intensities in the residential sector have stayed near constant since the 1970s in sharp contrast to nationwide...
Persistent link: https://www.econbiz.de/10010868779
In this paper, we investigate jump spillover effects of five energy (petroleum) futures and their implications for diversification benefits. In order to identify the latent historical jumps for each of these energy futures, we use a Bayesian MCMC approach to estimate a jump-diffusion model for...
Persistent link: https://www.econbiz.de/10010593872
Consumption of ethanol in the United States has increased rapidly over the last few years, fueled by both higher crude oil prices and generous public support measures for renewable fuels. The contribution of ethanol to the transport energy mix varies markedly by state. Heterogeneity in ethanol...
Persistent link: https://www.econbiz.de/10010665584
In this study, we empirically investigate whether or not the conventional belief that new information about fundamental value is revealed in the futures market ahead of the spot market is applicable to four important storable energy commodities, oil, gasoline, heating oil and natural gas. Taking...
Persistent link: https://www.econbiz.de/10013296725
Generation from renewable energy sources in Germany has experienced a considerable uptake in recent years. Mainly responsible for this development is the German Renewable Energy Sources Act (Erneuerbare Energien Gesetz, EEG). This paper considers redistributive implications of the EEG for...
Persistent link: https://www.econbiz.de/10011100088
In this paper, decisions regarding production in oil exporting countries are studied by means of theoretical analysis and empirical investigation. In particular, we aim at describing the relationship between oil production levels and changes in the world oil demand and prices.
Persistent link: https://www.econbiz.de/10011100091
Electricity price time series usually exhibit some form of nonstationarity, corresponding to long-term behavior, one or more periodic components as well as dependence on calendar effects. As a result, modeling electricity prices requires accounting for both long-term and periodic components. In...
Persistent link: https://www.econbiz.de/10011100094
This paper examines the effect of structural breaks on the spot–futures oil prices relationship. We explore the impact of structural breaks on four critical issues, including cointegrating relationships, market efficiency under the expectation hypothesis and the no arbitrage rule, causalities,...
Persistent link: https://www.econbiz.de/10011100109