Iran as an energy-rich country faces many challenges in optimal utilization of its vast resources. High population and economic growth, generous subsidies program, and poor resource management have contributed to rapidly growing energy consumption and high energy intensity for the past decades....

The paper studies the return-volatility relationship in a range of commodities. We develop a commodity price model and show that the volatility of price changes can be positively or negatively related to demand shocks. An “inverse leverage effect” – the volatility is higher following...

The recent dramatic fall in oil prices has led to extensive capital rationing in international oil companies, and subsequent fierce competition between resource extraction countries to attract scarce investment. This situation is not adequately addressed by the large literature on international...

A central question in the analysis of fuel-economy policy is whether consumers are myopic with regards to future fuel costs. We provide the first evidence on consumer valuation of fuel economy from a natural experiment. We examine the short-run equilibrium effects of an exogenous restatement of...

Energy leapfrogging may have critical implications for a world that seeks to reduce its fossil fuel use and greenhouse gas emissions, and in which most future economic growth will be concentrated in rapidly growing, industrializing countries rather than in more mature economies. The current...

This paper investigates the integration among sub-sectors within the environmentally friendly stock market and the integration between these sub-sectors and other financial asset classes. Using the recently developed cross-quantilogram framework, we contribute to the literature by quantifying...

The recent fall in oil prices has led to extensive capital rationing, and thereby given rise to a renewed focus on parameters for project selection which supplement net present value. While the financial crisis was creating capital constraints, the oil industry seemed to be paying great...

The EU energy system is in the middle of a period of profound change. Financing the transition to a low-carbon EU economy is expected to require $2.2 trillion by 2035, requiring substantial private capital. However, investors are hesitant to commit capital due to many challenges facing the...

Using patent data from 1978 to 2019 across 1,881 regions, we estimate the maindeterminants of innovation in energy storage. Our results highlight the role of energyprices and past innovation in shaping innovation. Specifically, a one-unit increase inelectricity prices leads to a 15.54% reduction...

Several studies note the significant quantity of water used to hydraulically fracture oil and gas wells. For nine western states in 2013, water use in fracking represented just 0.8 percent of agricultural water use for irrigation. Locally, fracking used more water than farming only in counties...