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The run-up in oil prices since 2004 coincided with growing investment in commodity markets and increased price comovement among different commodities. We assess whether speculation in the oil market played a role in driving this salient empirical pattern. We identify oil shocks from a large...
Persistent link: https://www.econbiz.de/10011084143
Traditional least squares estimates of the responsiveness of gasoline consumption to changes in gasoline prices are biased toward zero, given the endogeneity of gasoline prices. A seemingly natural solution to this problem is to instrument for gasoline prices using gasoline taxes, but this...
Persistent link: https://www.econbiz.de/10011184084
. We analyze the optimal time of transition from fossil fuel to renewables, amount of fossil fuel to leave in situ, and … phasing in of renewables, but fossil fuel is depleted more quickly. Global warming need thus not be alleviated. …
Persistent link: https://www.econbiz.de/10008854461
The paper is concerned with the empirical modelling of domestic demand for energy in the United Kingdom at the level of …-stage budgeting model of the household's demand for energy conditional on its ownership of durables. Preferences at both stages of the … data has not been fully exploited in the analysis of energy demand to date. Unrestricted reduced-form estimates are …
Persistent link: https://www.econbiz.de/10005497752
This paper examines future energy and emissions scenarios in China generated by the Integrated Assessment Model WITCH …
Persistent link: https://www.econbiz.de/10011084331
natural gas, and finally nuclear power and modern renewables such as wind power, for their electricity needs as they develop …. The extent to which countries climb the electricity ladder is dependent on energy endowments. The results imply that the … environmental implications of economic development differ in countries with different energy resource endowments. An effective …
Persistent link: https://www.econbiz.de/10008515763
This paper tackles the issue of the optimality of agglomeration in a two-region economy with skilled/mobile and … intermediate values, it yields agglomeration whereas dispersion is socially desirable. We show that competitive lobbying on factor …
Persistent link: https://www.econbiz.de/10005504229
and workers immobility across regions creates a tendency for agglomeration of firms when transportation costs are low. The …
Persistent link: https://www.econbiz.de/10005504420
While transport costs have fallen, the empirical evidence also points at rising total trade costs. In a model of industry location with endogenous transaction costs, we show how and under which conditions a decline in transport costs can lead to an increase in the total cost of trade.
Persistent link: https://www.econbiz.de/10005504426
We consider a model with a continuum of industries in which agglomeration forces cause each industry to concentrate in …
Persistent link: https://www.econbiz.de/10005504486