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This paper investigates the testable restrictions on the time-series behavior of equity premia implied by a representative agent model whose state and time-non-separable preferences are subject to taste shocks. The model nests state and time-separable preferences with and without taste shocks as...
Persistent link: https://www.econbiz.de/10005475121
substitute energy at or below current market prices for oil. Six additional locations - Ellsworth, Luke, Williams, Bliss, Fallon … be economically competitive with natural gas at current controlled prices. Generation of electric power at the locations …
Persistent link: https://www.econbiz.de/10009435583
The Fossil2 energy-economic model is used by the US Department of Energy (DOE) for a variety of energy and environmental policy analyses. A number of improvements to the model are under way or are being considered. This report was prepared by the Pacific Northwest Laboratory (PNL) to provide a...
Persistent link: https://www.econbiz.de/10009435747
corresponding market-clearing prices. We show that future prices for both electricity and AS depend on expectations of the spot …
Persistent link: https://www.econbiz.de/10009435805
(CIA) and Energy Information Agency (EIA) forecasting models of world oil prices is presented. This comparison consists of … encompassing. In particular, the analysis does not provide data on crude oil prices in the spot market, but does provide … changes in oil prices. Throughout this paper, world oil prices are defined in terms of real 1978 dollars per barrel of crude …
Persistent link: https://www.econbiz.de/10009435871
, macroeconomic forecasts of individual subsector growth rates and energy prices can then be combined with endogenous forecasts of …
Persistent link: https://www.econbiz.de/10009436210
In this report, we study the potential for competitive forces to enhance the efficiency of integrated resource planning and produce consumer cost reductions. We examine the efficiency gains from competition in the private power market, and ask whether similar forces can be successful on the...
Persistent link: https://www.econbiz.de/10009436581
The Fossil2 energy-economic model is used by the US Department of Energy (DOE) for a variety of energy and environmental policy analyses. A number of improvements to the model are under way or are being considered. This report was prepared by the Pacific Northwest Laboratory (PNL) to provide a...
Persistent link: https://www.econbiz.de/10009436934
, macroeconomic forecasts of individual subsector growth rates and energy prices can then be combined with endogenous forecasts of …
Persistent link: https://www.econbiz.de/10009436982
markets based on wages and prices. Firms experiment with prices and employment levels to maximize their profits. We developed …-firm economies converge toward the competitive equilibria typified by lower prices and higher output and employment, but also suffer …
Persistent link: https://www.econbiz.de/10009437100