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Recent developments in biofuel technologies have resulted in heightened linkages between the petroleum and agricultural sectors. As such, a large price and/or volatility shift experienced in one sector is now more likely to spill-over into the other. In trying to capture the interrelations...
Persistent link: https://www.econbiz.de/10013003473
Climate regulation of the electricity sector is one of the most important growing — and rapidly changing — areas of law and policy today. This is both because of the critical role that electricity plays in modern society, acting as economic lifeblood, and because of electricity's part in...
Persistent link: https://www.econbiz.de/10012955867
This paper studies how changes in energy input costs for U.S. manufacturers affect the relative welfare of … isolation: incomplete pass-through of input costs, differences in industry competitiveness, and factor substitution amongst …-level unit prices and input choices. We find that about 70 percent of energy price-driven changes in input costs are passed …
Persistent link: https://www.econbiz.de/10012958552
We study the drivers of the adoption of electricity generation technologies between 1970 and 2014 in the lower 48 U.S. states. Since the 1990s, major electricity market restructuring took place in some parts of the United States. We explore the implications of changing from a regulated...
Persistent link: https://www.econbiz.de/10012960606
This paper estimates how increases in production costs due to energy inputs affect consumer versus producer surplus (i ….e., incidence). In doing so, we develop a general methodology to measure the incidence of changes in input costs that can account … costs, and industry competitiveness. We apply this methodology to a set of U.S. manufacturing industries for which we …
Persistent link: https://www.econbiz.de/10012965517
In 1973-1974, the U.S. faced the so-called “Energy Crisis” due to the Arab oil embargo and a quadrupling of world crude oil prices by OPEC. This led the U.S. to use a “Price Control” policy in the domestic energy market. The effects of such policy are explored and well documented....
Persistent link: https://www.econbiz.de/10013038399
This paper studies how increases in energy input costs for production are split between consumers and producers via … between producers and consumers due to a change in input costs. We find that increases in energy prices lead to higher plant …-level marginal costs and output prices but lower markups. This suggests that marginal cost pass-through is incomplete, with estimates …
Persistent link: https://www.econbiz.de/10012990878
This paper studies how increases in energy input costs for production are split between consumers and producers via … between producers and consumers due to a change in input costs. We find that increases in energy prices lead to higher plant …-level marginal costs and output prices but lower markups. This suggests that marginal cost pass-through is incomplete, with estimates …
Persistent link: https://www.econbiz.de/10012991880
This paper examines the integration between the prices of different types of physical (upstream/end-use) and futures contracts of natural gas in the US for the period of June 1990-Dec 2014. To examine the equilibrium relationship between physical and futures prices, several cointegration tests,...
Persistent link: https://www.econbiz.de/10013025369
We derive a general joint affine term structure model of US government bond yields and the convenience yields on physical commodities. We apply this framework separately to oil and gold. Our results show clear links between bond and commodity markets, since bond factors play a significant role...
Persistent link: https://www.econbiz.de/10013026902