Showing 1 - 10 of 305
We examine the environmental impact of the post-2005 natural gas glut in the United States due to the shale gas boom. Our focus is on quantifying short-term coal-to-gas switching decisions by different types of electric power plants in response to changes in the relative price of the two fuels....
Persistent link: https://www.econbiz.de/10013013922
This paper measures the extent to which prices exceed marginal costs in the U.S. natural gas distribution market during the period 1991-2007. We find large departures from marginal cost pricing in all 50 states, with residential and commercial customers facing average markups of over 40%. Based...
Persistent link: https://www.econbiz.de/10013145012
Half of American households heat their homes with natural gas furnaces and 43% use it to heat their water. Hence, understanding residential natural gas consumption behavior has become a first-order problem. In this paper, we provide the first ever causally identified, microdata-based estimates...
Persistent link: https://www.econbiz.de/10012914081
Economic theory suggests that energy subsidies can lead to excessive consumption and environmental degradation. However, the precise impact of energy subsidies is not well understood. We analyze a large energy subsidy: the California Alternate Rates for Energy (CARE). CARE provides a price...
Persistent link: https://www.econbiz.de/10014089539
We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of housing are offset by commensurate changes in wealth...
Persistent link: https://www.econbiz.de/10013135884
We develop a pair of risk measures, health and mortality delta, for the universe of life and health insurance products. A life-cycle model of insurance choice simplifies to replicating the optimal health and mortality delta through a portfolio of insurance products. We estimate the model to...
Persistent link: https://www.econbiz.de/10013121063
Expenditure visibility—the extent to which a household's spending on a consumption category is noticeable to others …-average spending. Jointly, these visibility measures explain up to three quarters or more of the observed variation in total-expenditure …
Persistent link: https://www.econbiz.de/10012909500
affect total expenditures in households headed by low-educated single mothers. However, patterns of expenditure did change … well-being and expenditure patterns of poor single-mother families. Our research suggests that welfare reform did not … significant changes in expenditures on childcare or learning and enrichment activities. This pattern of results suggests that …
Persistent link: https://www.econbiz.de/10012760606
In this paper we document significantly steeper declines in nondurable expenditures in the UK compared to the US, in … ownership and expenses, levels and paths of health status, number of household members, and out-of -pocket medical expenditures …
Persistent link: https://www.econbiz.de/10012984779
Carbon taxation has been studied primarily in social planner or infinitely lived agent models, which trade off the welfare of future and current generations. Such frameworks obscure the potential for carbon taxation to produce a generational win-win. This paper develops a large-scale, dynamic...
Persistent link: https://www.econbiz.de/10012871811