This paper examines the role of energy in long-term growth. The authors estimate a translog production function in capital, labour, and energy, using data on 38 countries from 1965-1990. It is found that separating the countries into two groups, the high growth group and the rest of the world...

The objective of this paper is to analyze how the variability of wind affects optimal dispatches and reserves in a daily optimization cycle. The Cornell SuperOPF1 is used to illustrate how the system costs can be determined for a reliable network (the amount of conventional generating capacity...

A problem persists in measuring the welfare effects of simultaneous price and income changes because the Hicksian compensating variation (CV) and equivalent variation (EV), while unique, are based on unobservable (Hicksian) demand functions, and observable (Marshallian) demand functions do not...

The purpose of this article is to evaluate and compare the incremental cost of purchased power from non-utility generators versus utility built generation considering a variety of contracts for energy purchases. Four types of contracts are evaluated: I) Flat Rate Produce and Pay, 2)...

This paper proposes a REversible Second-ORder Taylor (RESORT) expansion of the expenditure function to compute compensated income from ordinary demand functions as an alternative to the algorithm proposed by Vartia. These algorithms provide measures of Hicksian welfare changes and Konus-type...

In 2005, the Federal Energy Regulatory Commission (FERC) began discussing regulatory policy for reactive-power procurement and pricing in competitive electricity markets. This paper summarizes findings from a unique, interdisciplinary program of public-interest research that lays a formal...

There is a substantial controversy in the economics literature over the magnitude of the expenditure elasticity for food grain in China that is caused, to a large extent, by whether time-series or cross-section data are used in the analysis. A set of reasonable elasticities for a complete demand...