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Can Incentives to Increase Electricity Use Reduce the Cost of Integrating Renewable Resources
Andersen, Laura - 2020
We report results from a large field experiment that with a few hours prior notice provided Danish residential consumers with dynamic price and environmental signals aimed at causing them to shift their consumption either into or away from certain hours of the day. The same marginal price signal...
Persistent link: https://www.econbiz.de/10012829859
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Unitization of Spatially Connected Renewable Resources
Kaffine, Daniel - 2015
Spatial connectivity of renewable resources induces a spatial externality in extraction. We explore the consequences of decentralized spatial property rights in the presence of spatial externalities. We generalize the notion of unitization - developed to enhance cooperative extraction of oil and...
Persistent link: https://www.econbiz.de/10013038597
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A Spatial Approach to Energy Economics
Moreno Cruz, Juan Bernardo - 2014
We develop a spatial model of energy exploitation where energy sources are differentiated by their geographic location and energy density. The spatial setting creates a scaling law that magnifies the importance of differences across energy sources. As a result, renewable sources twice as dense,...
Persistent link: https://www.econbiz.de/10013064302
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International Trade and Open Access Renewable Resources : The Small Open Economy Case
Brander, James A.; Taylor, M. Scott - 2021
This paper develops a two-sector general equilibrium model of an economy with an open access renewable resource. We characterize the autarkic steady state, showing that autarky prices (and 'comparative advantage') are determined by the ratio of intrinsic resource growth to labor. Under free...
Persistent link: https://www.econbiz.de/10013238708
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Trade, Tragedy, and the Commons
Copeland, Brian R.; Taylor, M. Scott - 2021
We develop a theory of resource management where the degree to which countries escape the tragedy of the commons is …
Persistent link: https://www.econbiz.de/10013247854
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International Portfolio Allocation Under Model Uncertainty
Benigno, Pierpaolo - 2010
an additional hedging motif driven by the interaction between real exchange rate risk and ambiguity aversion. What … matters is the long-run as opposed to the short-run risk. Domestic equity is a good hedge with respect to long-run real … exchange rate risk even when bonds are traded. The higher is the degree of ambiguity aversion, the stronger is the home bias …
Persistent link: https://www.econbiz.de/10012757854
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The Cost of Uncertain Life Span
Edwards, Ryan D. - 2010
adult life span is about 15 years in the U.S., and theory and evidence suggest it is costly. I calibrate a utility …
Persistent link: https://www.econbiz.de/10012759205
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Information Acquisition and Under-Diversification
Van Nieuwerburgh, Stijn - 2010
If an investor wants to form a portfolio of risky assets and can exert effort to collect information on the future value of these assets before he invests, which assets should he learn about? The best assets to acquire information about are ones the investor expects to hold. But the assets the...
Persistent link: https://www.econbiz.de/10012759435
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Optimal Monetary Policy Under Uncertainty in DSGE Models : A Markov Jump-Linear-Quadratic Approach
Svensson, Lars E. O. - 2010
We study the design of optimal monetary policy under uncertainty in a dynamic stochastic general equilibrium models. We use a Markov jump-linear-quadratic (MJLQ) approach to study policy design, approximating the uncertainty by different discrete modes in a Markov chain, and by taking...
Persistent link: https://www.econbiz.de/10012759442
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Inflating the Beast : Political Incentives Under Uncertainty
Caballero, Ricardo J. - 2010
assumptions: Economic risk is high relative to political risk, markets are sufficiently incomplete, and there exists a rent …
Persistent link: https://www.econbiz.de/10012759551