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Because of risk aversion, any sensible investment valuation system should value less Projects that contribute more to the aggregate risk, i.e., that have a larger income elasticity of net benefits. In theory, this is done by adjusting discount rates to consumption betas. But in reality, for...
Persistent link: https://www.econbiz.de/10012487747
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Europe's power system is still marked by a distinct national component, and despite some regions with strongly integrated power systems, electricity supply today still has a largely national basis. Policies to decarbonise the power sector may fundamentally alter this situation, because power...
Persistent link: https://www.econbiz.de/10010532121
Over the last two decades energy has emerged as an increasingly important component of the overall EU-Turkey relations. In particular, the Southern Gas Corridor (SGC) and its flagship project, Nabucco, soon became the pivotal element of the EU-Turkey energy relations. After years of strong...
Persistent link: https://www.econbiz.de/10010404152
Capacity Remuneration Mechanisms (CRM) can be used in power markets to overtake market failures, reaching security of supply. However, investment in capacity is a dynamic process, that depends on the evolution of prices and costs overtime. In our paper we study the capacity remuneration value...
Persistent link: https://www.econbiz.de/10013275843
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are likely in the near future. -- banks ; comparative political economy ; financial regulation ; microprudential policy …
Persistent link: https://www.econbiz.de/10008907719
This paper reports an original economic valuation of the impact of climate change on the provision of forest regulating services in Europe. To the authors’ knowledge the current paper represents the first systematic attempt to estimate human well-being losses with respect to changes in...
Persistent link: https://www.econbiz.de/10008702331
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environmental regulation on innovation and on productivity generally in separate analyses and mostly focusing on the USA. The few … existing studies focusing on Europe investigate the effect of environmental regulation either on green innovation or on … regulation on the output of innovation activity, as proxied by patents, thus providing support in favor of the "weak" PH in line …
Persistent link: https://www.econbiz.de/10010413622