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The Allocative Cost of Price Ceilings in the U.S. Residential Market for Natural Gas

Kilian, Lutz; Davis, Lucas W. - National Bureau of Economic Research (NBER) - 2008

A direct consequence of imposing a ceiling on the price of a good for which secondary markets do not exist, is that … cost has been discussed in the literature as a potentially important component of the total welfare loss from price … data for the U.S. residential market for natural gas which was subject to price ceilings during 1954-1989. This market is …

Persistent link: https://www.econbiz.de/10005778427

Energy Policy with Externalities and Internalities

Mullainathan, Sendhil; Allcott, Hunt; Taubinsky, Dmitry - National Bureau of Economic Research (NBER) - 2012

We analyze optimal policy when consumers of energy-using durables undervalue energy costs relative to their private optima. First, there is an Internality Dividend from Externality Taxes: aside from reducing externalities, they also offset distortions from underinvestment in energy efficiency....

Persistent link: https://www.econbiz.de/10011227933

The Economic Cost of Global Fuel Subsidies

Davis, Lucas W. - National Bureau of Economic Research (NBER) - 2013

By 2015, global oil consumption will reach 90 million barrels per day. In part, this high level of consumption reflects the fact that many countries provide subsidies for gasoline and diesel. This paper examines global fuel subsidies using the latest available data from the World Bank, finding...

Persistent link: https://www.econbiz.de/10010785582

Energy Efficiency Economics and Policy

Newell, Richard; Palmer, Karen; Gillingham, Kenneth - National Bureau of Economic Research (NBER) - 2009

Energy efficiency and conservation are considered key means for reducing greenhouse gas emissions and achieving other energy policy goals, but associated market behavior and policy responses have engendered debates in the economic literature. We review economic concepts underlying consumer...

Persistent link: https://www.econbiz.de/10004992010

Welfare and Distributional Implications of Shale Gas

Hausman, Catherine; Kellogg, Ryan - National Bureau of Economic Research (NBER) - 2015

Technological innovations in horizontal drilling and hydraulic fracturing have enabled tremendous amounts of natural gas to be extracted profitably from underground shale formations that were long thought to be uneconomical. In this paper, we provide the first estimates of broad-scale welfare...

Persistent link: https://www.econbiz.de/10011266638

The Incidence of an Oil Glut: Who Benefits from Cheap Crude Oil in the Midwest?

Borenstein, Severin; Kellogg, Ryan - National Bureau of Economic Research (NBER) - 2012

transport it to the Gulf Coast where it could access the world oil market. As a result, the U.S. "benchmark" crude oil price in …

Persistent link: https://www.econbiz.de/10010950987

The Effect of Uncertainty on Investment: Evidence from Texas Oil Drilling

Kellogg, Ryan - National Bureau of Economic Research (NBER) - 2010

future oil price volatility derived from the NYMEX futures options market. Using a dynamic model of firms' investment problem …, I find that oil companies respond to changes in expected price volatility by adjusting their drilling activity by a …

Persistent link: https://www.econbiz.de/10008727845

Greenhouse Gas Reductions under Low Carbon Fuel Standards?

Holland, Stephen P.; Knittel, Christopher R.; Hughes, … - National Bureau of Economic Research (NBER) - 2007

A low carbon fuel standard (LCFS) seeks to reduce greenhouse gas emissions by limiting a fuel producer's carbon emissions per unit of output. California has launched an LCFS for transportation fuels; others have called for a national LCFS. We show that this policy decreases production of...

Persistent link: https://www.econbiz.de/10005088801

Does Better Information Lead to Better Choices? Evidence from Energy-Efficiency Labels

Davis, Lucas W.; Metcalf, Gilbert E. - National Bureau of Economic Research (NBER) - 2014

with more investment in high-usage high-price states and less investment in low-usage low-price states. The implied …

Persistent link: https://www.econbiz.de/10011085478

Nudging Energy Efficiency Behavior: The Role of Information Labels

Newell, Richard; Siikamäki, Juha - National Bureau of Economic Research (NBER) - 2013

We evaluate the effectiveness of energy efficiency labeling in guiding household decisions. Using a carefully designed choice experiment with alternative labels, we disentangle the relative importance of different types of information and intertemporal behavior (i.e., discounting) in guiding...

Persistent link: https://www.econbiz.de/10011119792