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This paper presents a method for estimating treatment effects of regulations when treated and control firms compete on the output market. We develop a GMM estimator that recovers reduced-form parameters consistent with a model of differentiated product markets with multi-plant firms, and use...
Persistent link: https://www.econbiz.de/10014377413
regressions, controlling for macroeconomic factors such as economic development, GDP growth, urbanisation, as well as the energy …
Persistent link: https://www.econbiz.de/10012799647
promoting energy conservation without imposing significant burdens on consumers. …
Persistent link: https://www.econbiz.de/10015211319
We use a structural VAR model to study the German natural gas market and investigate the impact of the 2022 Russian supply stop on the German economy. Combining conventional and narrative sign restrictions, we find that gas supply and demand shocks have large and persistent price effects, while...
Persistent link: https://www.econbiz.de/10015047217
A sufficiently rapidly rising carbon tax may increase near-term emissions compared with the case of no carbon tax. Even so, such a carbon tax path may reduce total costs related to climate change, since the tax may reduce total carbon extraction. A government cannot commit to a specific carbon...
Persistent link: https://www.econbiz.de/10010274935
When natural gas prices are subject to periodic decoupling from oil prices, for instance due to peak-load pricing, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences about cointegration relationships, price adjustments...
Persistent link: https://www.econbiz.de/10010500401
demand side of this market. In particular, we consider the effects on Russian energy consumers of removing natural gas … purpose, we use a detailed numerical model for the energy markets in Europe and Russia – LIBEMOD. Our results suggest that … exports. Removal of other market imperfections in the Russian energy markets has smaller impacts on prices and quantities than …
Persistent link: https://www.econbiz.de/10010531862
We explore the impact of an EU-wide nuclear phase-out by 2030 provided the EU energy and climate policy for 2030 is … implemented. Using a numerical simulation model of the European energy industry (LIBEMOD), we find that a complete nuclear phase … on total consumption of energy. Lower nuclear production is to a large extent replaced by more gas power and bio power …
Persistent link: https://www.econbiz.de/10011307073
Council – was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a … final energy consumption, and improved energy efficiency. We find that the renewable and energy-efficiency targets have been …
Persistent link: https://www.econbiz.de/10011957180
The rebound effect is a well-known behavioral response whereby potential energy savings from efficiency improvements … are partially offset by increased consumption of energy services, as the marginal cost of energy services is reduced. This … improvement in the energy efficiency of a household’s appliances, but to the supply of a zero-marginal-cost perfect substitute for …
Persistent link: https://www.econbiz.de/10012018326