This paper assesses the potential impact of the European Union Emissions Trading System (EU ETS) on firm productivity. We estimate a stylized version of the neo-Schumpeterian model, which incorporates innovation and productivity catch-up as two potential sources of firm’s productivity growth,...

This paper proposes a nice electricity market design that is efficient and practical, meaningfully satisfying the wants of a market design's stakeholders. Hence, this new design should be considered by countries that have reformed their electricity sectors or are in the process of doing so

Energy economists are interested in how a change in electricity prices prompt a response by way of end-user power demand. If historical prices are low and infrequently-changing, it becomes difficult to estimate price elasticities statistically, especially in the short-run. This paper extends on...

Using data from Alberta's wholesale electricity market, we demonstrate the empirical challenges that can arise when employing empirical methodologies to characterize a firms unilateral profit-maximizing offer curve. We illustrate that such residual demand analyses can result in non-monotonic,...

Estimating the relationship between economic development and energy demand and determining whether that relationship changes as levels of development change have been popular questions in energy economics. The current paper contributes to the literature by assembling a wide panel dataset of...

The province of British Columbia, Canada, introduced a broad-based revenue-neutral carbon tax in July 2008; the rate was set to $10/tonne of CO2 initially, increased annually by $5/tonne until 2012 to reach $30/tonne, and remained at that level until 2017. We use the experience related to this...

We examine quarterly oil price forecasts from the Survey of Professional forecasters by the European Central Bank. We find statistical evidence at short forecast horizons that oil price volatility observed ex post explains ex-ante disagreement between oil price forecasters of the ECB's...

Iraq’s recent service contracts with international oil companies, known as technical service contracts (TSC), exemplify the increasing reliance of oil producing countries on service contracts. In this study, we examine the economic efficiency of Iraq’s Rumaila producing field technical...

Petroleum administration can be regarded as a principal-agent problem. The government allocates exploration and production rights to petroleum companies on behalf of the population. The government is the principal and the companies are agents. With the aim of capturing revenue for the state, the...