Brazil is the only sizable economy to date to have developed a home-grown ubiquitously-retailed alternative to fossil fuels in light road transportation: ethanol from sugar cane. Perhaps unsurprisingly, the uptake of flexible-fuel vehicles (FFVs) has been tremendous. Five years after their...

A study was initiated to understand the entire value chain of Natural Gas in India. Natural gas industry started developing since 1960s in India. Two government organizations Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) started exploring blocks in search of more Natural Gas...

Liquidity provision for corporate bonds has become significantly more expensive after the 2008 crisis. Using index exclusions as a natural experiment during which uninformed index trackers request immediacy, we find that the cost of immediacy has more than doubled. In addition, the supply of...

The responsiveness of house prices to monetary policy shocks depends on the nature of the shock – expansionary versus contractionary – and on local housing supply elasticities. These findings are established based on a panel of 263 US metropolitan areas. We test and find supporting evidence...

We present a new model of charitable giving where individuals regard out-of-pocket donations and the matches they induce as different. We show that match-price elasticities combine conventional price effects with the strength of warm-glow, so that a match-price elasticity alone is insufficient...

Half of American households heat their homes with natural gas furnaces and 43% use it to heat their water. Hence, understanding residential natural gas consumption behavior has become a first-order problem. In this paper, we provide the first ever causally identified, microdata-based estimates...

We consider an optimal commodity taxation problem under a consumption target and prove the existence of an optimal solution for the problem. This optimal solution obeys taxation rules that are contrary to standard taxation rules such as the inverse-elasticity rule. We also verify the necessary...

Empirical evidence on households' awareness of electricity prices and potentially divergent demand responses to price changes conditional on price knowledge is scant. Using panel data originating from Germany's Residential Energy Consumption Survey (GRECS), we fill this void by employing an...

In Part 1 ("Divergent Markets") of this series, we argue that the recent divergence in housing supplies likely signals a decline in inventories of lower- and middle-tier homes nationwide. Part 2 ("Rental Demand") discusses the role that rental-market developments have played in exacerbating this...