Showing 1 - 10 of 41
We estimate an aggregate production function with constant elasticity of substitution between energy and a capital/labor composite using U.S. data. The implied measure of energy-saving technical change appears to respond strongly to the oil-price shocks in the 1970s and has a negative medium-run...
Persistent link: https://www.econbiz.de/10013065268
Federal tax policy provides a broad array of incentives for energy investment. I review those policies and construct estimates of marginal effective tax rates for different energy capital investments as of 2007. Effective tax rates vary widely across investment classes. I then consider...
Persistent link: https://www.econbiz.de/10013070671
This paper sets out a simple spatial model of energy exploitation to ask how the location and productivity of energy resources affects the distribution of economic activity across geographic space. By combining elements from energy economics and economic geography we link the productivity of...
Persistent link: https://www.econbiz.de/10012976980
We show that modifying the standard neoclassical growth model by assuming that competition is imperfect makes it easier to explain the size of the declines in output and real wages that follow increases in the price of oil. Plausibly parameterized models of this type are able to mimic the...
Persistent link: https://www.econbiz.de/10013226560
This paper examines the relationship between spot and futures prices for a broad range of commodities, including energy, precious and base metals, and agricultural commodities. In particular, we examine whether futures prices are (1) an unbiased and/or (2) accurate predictor of subsequent spot...
Persistent link: https://www.econbiz.de/10013146511
I use U.S. patent data from 1970 to 1994 to estimate the effect of energy prices on energy-efficient innovations. Using patent citations to construct a measure of the usefulness of the existing base of scientific knowledge, I consider the effect of both demand-side factors, which spur innovative...
Persistent link: https://www.econbiz.de/10013246366
This paper explores the characteristics of 238 patents on 94 "inventions" contributed by major multinational innovators to the "Eco-Patent Commons", which provides royalty-free access to third parties to patented climate change related innovations. By comparing the pledged patents to other...
Persistent link: https://www.econbiz.de/10013114981
The use of Payment for Environmental Services (PES) is not a new type of contract but they have become more in vogue because of the potential for sequestering carbon by paying to prevent deforestation and degradation of forest lands. We provide a framework utilizing transaction costs to...
Persistent link: https://www.econbiz.de/10013087879
Fresh water supplies increasingly are under stress in many parts of the world due to rising populations, higher per capita incomes and corresponding consumption, greater environmental concerns, and the effects of climate change. Water rights and markets are part of the institutional menus for...
Persistent link: https://www.econbiz.de/10013065560
This paper treats programs in which firms voluntarily agree to meet environmental standards as "green clubs": clubs, because they provide non-rival but excludable reputation benefits to participating firms; green, because they also generate environmental public goods. The model illuminates a...
Persistent link: https://www.econbiz.de/10013068871