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Power it Up : Strengthening the Electricity Sector to Improve Efficiency and Support Economic Activity
Di Bella, C. Gabriel - 2016
Poor performance of the electricity sector remains a drag to economic efficiency and a bottleneck to economic activity in many low-income countries. This paper proposes a number of models that account for different equilibria (some better, some worse) of the electricity sector. They show how...
Persistent link: https://www.econbiz.de/10012977754
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Chasing the Sun and Catching the Wind : Energy Transition and Electricity Prices in Europe
Cevik, Serhan; Ninomiya, Keitaro - 2022
European power markets are in the midst of unprecedented changes, with a record-breaking surge in energy prices … estimation methods including a panel quantile regression approach. We find that renewable energy is associated with a significant … renewables on the volatility of electricity prices, we obtain evidence that renewable energy has a negative effect on volatility …
Persistent link: https://www.econbiz.de/10014241884
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The Macroeconomic (and Distributional) Effects of Public Investment in Developing Economies
Furceri, Davide - 2017
This paper provides new empirical evidence of the macroeconomic effects of public investment in developing economies. Using public investment forecast errors to identify unanticipated changes in public investment, the paper finds that increased public investment raises output in the short and...
Persistent link: https://www.econbiz.de/10012943953
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The Macroeconomic Effects of Public Investment : Evidence from Advanced Economies
Abiad, Abdul G. - 2015
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that...
Persistent link: https://www.econbiz.de/10013021776
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The Distributional Effects of Government Spending Shocks in Developing Economies
Furceri, Davide - 2018
We construct unanticipated government spending shocks for 103 developing countries from 1990 to 2015 and study their effects on income distribution. We find that unanticipated fiscal consolidations lead to a long-lasting increase in income inequality, while fiscal expansions lower inequality....
Persistent link: https://www.econbiz.de/10012922628
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Oil Price Volatility and the Role of Speculation
Beidas-Strom, Samya - 2015
How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect...
Persistent link: https://www.econbiz.de/10013028690
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OPEC and the Oil Market
Nazer, Yousef; Pescatori, Andreas - 2022
This paper studies the historical importance of OPEC for oil price fluctuations. An event-study approach is used to identify the effects of OPEC announcements on oil price fluctuations. Results show that price volatility is higher than typical around OPEC meetings. Also, members' compliance, a...
Persistent link: https://www.econbiz.de/10014244439
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Caribbean Energy : Macro-Related Challenges
McIntyre, Arnold - 2016
High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power … the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment … of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced …
Persistent link: https://www.econbiz.de/10012993732
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Building Back Better : How Big are Green Spending Multipliers?
Batini, Nicoletta; di Serio, Mario; Fragetta, Matteo; … - 2022
This paper provides estimates of output multipliers for spending in clean energy and biodiversity conservation, as well … as for spending on non-ecofriendly energy and land use activities. Using a new international dataset, we find that every …, estimated multipliers associated with spending on renewable and fossil fuel energy investment are comparable, and the former (1 …
Persistent link: https://www.econbiz.de/10013305683
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Transitory and Permanent Shocks in the Global Market for Crude Oil
Rebei, Nooman - 2020
This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evidence of significant differences in the propagation mechanisms of transitory versus...
Persistent link: https://www.econbiz.de/10012836533