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Analyses of small- and large-scale systems
Felten, Björn; Felling, Tim; Osinski, Paul; Weber, … - 2019
By interlinking power systems, significant welfare gains can be achieved. However, different approaches for coupling electricity markets exist. A recent development in this field is the implementation of flow-based market coupling (FBMC) in Central Western Europe (CWE). Indeed, FBMC has proven...
Persistent link: https://www.econbiz.de/10012022671
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The econometrics of oil market VAR Models
Kilian, Lutz; Zhou, Xiaoqing - 2020
Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact in the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between...
Persistent link: https://www.econbiz.de/10012174841
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A simple framework for climate-change policy under model uncertainty
Athanasoglou, Stergios; Bosetti, Valentina; Drouet, Laurent - 2016
existing work is the adoption of a "satisficing", as opposed to optimizing, modeling approach. Along these lines, we place …
Persistent link: https://www.econbiz.de/10011614242
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Modeling Uncertainty in Climate Change : A Multi‐Model Comparison
Gillingham, Kenneth; Nordhaus, William D.; Anthoff, David; … - 2015
The economics of climate change involves a vast array of uncertainties, complicating both the analysis and development of climate policy. This study presents the results of the first comprehensive study of uncertainty in climate change using multiple integrated assessment models. The study looks...
Persistent link: https://www.econbiz.de/10014133105
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Simulation-based valuation of project finance : does model complexity really matter?
Weber, Florian; Schmid, Thomas; Pietz, Matthäus; … - 2010
Valuation ; Stochastic Modeling ; Monte Carlo Simulation ; Forecasting ; Model Complexity …
Persistent link: https://www.econbiz.de/10008659217
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Modeling coupled climate, ecosystems, and economic systems
Brock, William A.; Xepapadeas, Anastasios - 2015
exploration of new modeling approaches which are relevant and useful for the modeling of other types of coupled ecological …/economic systems. These include modeling of deep structural uncertainty by using robust control methods, exploring modeling through …
Persistent link: https://www.econbiz.de/10011296222
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Bayesian Calibration and Number of Jump Components in Electricity Spot Price Models
Gonzalez, Jhonny - 2017
We find empirical evidence that mean-reverting jump processes are not statistically adequate to model electricity spot price spikes but independent, signed sums of such processes are statistically adequate. Further we demonstrate a change in the composition of these sums after a major economic...
Persistent link: https://www.econbiz.de/10012970314
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Modelling Electricity Swaps with Stochastic Forward Premium Models
Blanco, Iván - 2017
We present a new model for pricing electricity swaps. Two general factors affect all contracts but unique risk factors affect each contract. General factors are average swap prices and deterministic trend-seasonal components, and unique factors are forward premiums. Innovations follow MNIG...
Persistent link: https://www.econbiz.de/10012966945
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Chapter 1. Modeling coupled climate, ecosystems, and economic systems
Brock, William A.; Xepapadeas, Anastasios - In: Handbook of environmental economics : Volume 4, (pp. 1-60). 2018
exploration of new modeling approaches which are relevant and useful for the modeling of other types of coupled ecological …/economic systems. These include modeling of deep structural uncertainty by using robust control methods, exploring modeling through … cumulative carbon budgeting, studying spatial transport phenomena and spatial aspects in economic/ecological modeling. …
Persistent link: https://www.econbiz.de/10014023895
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Modeling the Environmental and Socio-Economic Impacts of Biofuels
Janda, Karel; Kristoufek, Ladislav; Zilberman, David - 2011
review of economic modeling of biofuels. The increasing importance of biofuels is driven primarily by government policies …
Persistent link: https://www.econbiz.de/10009316380