What would be the effect of CO2 pricing on global oil supply and demand? This paper introduces a model describing the interaction between conventional and non-conventional oil supply in a Hotelling framework and under CO2 constraints. The model assumes that non-conventional crude oil enters the...

This paper analyzes the determinants of alternative automobile fuel regulation and developmentsupport with a particular focus on methanol fuel. We find that embedded interests, bureaucraticreforms, and political circumstances in the Chinese national, provincial, and municipalgovernments have all...

We analyze the long-term impacts of large-scale expansion of biofuels on land-usechange, food supply and prices, and the overall economy in various countries or regions using amulti-country, multi-sector global computable general equilibrium model augmented with an explicitland-use module and...

Time consistency problems can arise when environmental taxes are employedto encourage firms to take irreversible abatement decisions. Setting a high carbontax, for instance, would induce firms to invest in low-carbon technology,yet once investment has occurred the government can then reduce the...

Modern environmental problems are a consequence of human action. They not only pose thepredicament of who is to be held responsible; but exhibit such a complexity, that our ability totake responsibility for interventions into nature at all, is drawn into doubt. And what preciselydoes it mean, to...

In diesem Aufsatz untersuchen wir die Beziehung von Verantwortung und Kuppelproduktion.Unsere Verantwortung reflektiert unsere Fähigkeit, frei zu handeln. Wir können nur freihandeln, insofern wir für unsere Handlungen und ihre Folgen Verantwortung übernehmen; dieGrenzen unserer Verantwortung...

Objective of this paper is to enhance the understanding of modelling jumpsand to analyse the model risk based on the jump component in electricity markets.We provide a common modelling framework that allows to incorporate the main jumppatterns observed in electricity spot prices and compare the...

The rapidly growing literature on the relationship between energy consumption and economicgrowth has not univocally identi…ed the ‘real’causal relationship yet. We argue that bivariate mod-els, which analyze the causality at the level of the total economy, are not appropriate — especiallyin...

This study uses an agent-based test bed (“AMES”)to investigate separation and volatility of locational marginalprices (LMPs) in an ISO-managed restructured wholesale powermarket operating over an AC transmission grid. Particular attentionis focused on the dynamic and cross-sectional response...

In April 2003 the U.S. Federal Energy Regulatory Commission proposed a complicated marketdesign – the Wholesale Power Market Platform (WPMP) – for common adoption byall U.S. wholesale power markets. Versions of the WPMP have been implemented in NewEngland, New York, the mid-Atlantic states,...