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Capital sunk, emissions locked : the economics of energy transitions under carbon constraints

Moreaux, Michel; Amigues, Jean-Pierre; Nguyen, Manh-Hung - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614465

Sustainability criterion implied externality pricing for resource extraction

Grainger, Daniel - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015065772

Exhaustible resource use under endogenous time preference

Maeda, Akira; Nagaya, Makiko - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013556642

Hotelling Meets Keynes : Aggregate Adjustment with Spatial Competition and Nominal Rigidity

Schmitt-Grohé, Stephanie; Uribe, Martín - 2025

This paper embeds a circular Hotelling model of spatial competition into a new-Keynesian model with staggered price setting. The resulting framework provides microfoundations for a cost-push shock, taking the form of random variations in transportation costs. An increase in transportation costs...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015361504

The cost-efficiency carbon pricing puzzle

Gollier, Christian - 2022 - Revised April 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013492954

Optimal Exploration and Price Paths of a Non-renewable Commodity with Stochastic Discoveries

Ekeland, Ivar; Schlenker, Wolfram; Tankov, Peter; … - 2022

We address the long-standing challenge of adding optimal exploration to the classic Hotelling model of a non-renewable resource. We completely solve such a model, using impulse control. The model, extending Arrow and Chang (1982), has two state variables: "proven" reserves and a finite...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013191029

Effects of exhaustible resources and declining population on economic growth with Hotelling's rule

Sasaki, Hiroaki; Mino, Kazuo - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014583707

A journey into Harold Hotelling's economics

Gaspard, Marion; Missemer, Antoine; Mueller, Thomas - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015074604

How does the EU ETS reform impact allowance prices? : the role of myopia, hedging requirements and the hotelling rule

Bocklet, Johanna; Hintermayer, Martin - 2020

This paper uses a discrete-time partial equilibrium model of the European Emissions Trading System (EU ETS) to analyze the impact of the recent reform on allowance prices. By including bounded rationality such as myopia or hedging requirements, we find that the Hotelling price path is no longer...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012291879

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How does the EU ETS reform impact allowance prices? : the role of myopia, hedging requirements and the Hotelling rule

Bocklet, Johanna; Hintermayer, Martin - 2020

Book / Working Paper

How Does the EU ETS Reform Impact Allowance Prices? The Role of Myopia, Hedging Requirements and the Hotelling Rule

Bocklet, Johanna; Hintermayer, Martin - 2021

Book / Working Paper

The fossil episode

Hassler, John; Sinn, Hans-Werner - 2016

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011709489

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The Fossil Episode

Hassler, John; Sinn, Hans-Werner - 2021

Book / Working Paper

Breakthrough renewables and the green paradox

van der Ploeg, Rick - 2012

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010289634

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Breakthrough Renewables and the Green Paradox

van der Ploeg, Rick - 2021

Book / Working Paper

Depletion and development : natural resource supply with endogenous field opening

Venables, Anthony - 2011

This paper develops a model in which supply of a non-renewable resource can adjust through two margins: the rate of depletion and the rate of field opening. Faster depletion of existing fields means that less of the resource can ultimately be extracted, and optimal depletion of open fields...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10009312184

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Depletion and development : natural resource supply with endogenous field opening

Venables, Anthony - 2011

Book / Working Paper

Depletion and Development : Natural Resource Supply with Endogenous Field Opening

Venables, Anthony - 2021

Book / Working Paper

Is There Really a Green Paradox?

Ploeg, Frederick van der; Withagen, Cees - 2021

The Green Paradox states that, in the absence of a tax on CO2 emissions, subsidizing a renewable backstop such as solar or wind energy brings forward the date at which fossil fuels become exhausted and consequently global warming is aggravated. We shed light on this issue by solving a model of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013316241

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Is There Really a Green Paradox?

Ploeg, Frederick van der; Withagen, Cees - 2015

Book / Working Paper

Bush meets hotelling : effects of improved renewable energy technology on greenhouse gas emissions

Hoel, Michael - 2009

Fossil fuels are non-renewable carbon resources, and the extraction path of these resources depends both on present and future demand. When this "Hotelling feature" is taken into consideration, the whole price path of carbon fuel will shift downwards as a response to the reduced cost of the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10008799128

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Bush meets hotelling: effects of improved renewable energy technology on greenhouse gas emissions

Hoel, Michael - 2008

Book / Working Paper

Bush meets hotelling: Effects of improved renewable energy technology on greenhouse gas emissions

Hoel, Michael - 2008

Book / Working Paper

Bush meets hotelling : effects of improved renewable energy technology on greenhouse gas emissions

Hoel, Michael - 2008

Book / Working Paper

Bush Meets Hotelling : Effects of Improved Renewable Energy Technology on Greenhouse Gas Emissions

Hoel, Michael - 2021

Book / Working Paper

Ore money ore problems : a resource extraction game

Jacobson, Sarah - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014299151

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Ore money ore problems : a resource extraction game

Jacobson, Sarah - 2021

Book / Working Paper

Exhaustible resources and classical theory

Bidard, Christian; Erreygers, Guido - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012224407

Hotelling Meets Crypto-Currency : Do Bitcoin Rents Follow Hotelling's Rule?

Landry, Craig E. - 2020

Hotelling's Rule of non-renewable resource extraction was first proposed in 1931, but strong empirical evidence supporting Hotelling's predictions has been elusive. Recognizing the complications in natural resource markets, we test Hotelling's Rule using bitcoin rents. Bitcoin is similar to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012845723

Climate policy, resource owners' anticipations and the green paradox : model set-up and empirical considerations

Schneider, Nicolas - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014279666

Unilaterally optimal climate policy and the green paradox

Kollenbach, Gilbert; Schopf, Mark - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013347705

Reconciling hotelling resource models with hotelling's accounting method

Cairns, Robert D.; Hartwick, John M. - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013412864

From depreciation to exhaustible resources : on Harold Hotelling's first steps in economics

Missemer, Antoine; Gaspard, Marion; Cunha, Roberto P. … - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013185041

Resource curse or blessing? : sovereign risk in resource-rich emerging economies

Hamann S., Franz A.; Mendoza, Enrique G.; … - 2018

In this paper we document the stylized facts about the relationship between international oil price swings, sovereign risk and macroeconomic performance of oil-exporting economies. We show that even though being a bigger oil producer decreases sovereign riskâ€“because it increases a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011950480

Extracting information or resource? : the hotelling rule revisited under asymmetric information

Martimort, David; Pouyet, Jérôme; Ricci, Francesco - 2017

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015572005

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Extracting information or resource? : the hotelling rule revisited under asymmetric information

Martimort, David; Pouyet, Jérôme; Ricci, Francesco - 2017

Book / Working Paper

Extracting information or resource? : the hotelling rule revisited under asymmetric information

Martimort, David; Pouyet, Jérôme; Ricci, Francesco - 2017

Book / Working Paper

The safe carbon budget

Ploeg, Frederick van der - 2017

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011896006

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The safe carbon budget

Ploeg, Frederick van der - 2017 - Revised August 2017

Edition: Revised August 2017

Book / Working Paper

Adverse selection, commitment and exhaustible resource taxation

Ing, Julie - 2016

Governments design taxation schemes to capture resource rent. However, they usually propose contracts with limited duration and possess less information on the resources than the extractive firms do. This paper investigates how information asymmetry on costs and an inability to commit to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011793580

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Adverse selection, commitment and exhaustible resource taxation

Ing, Julie - 2016

Book / Working Paper

Adverse selection, commitment and exhaustible resource taxation

Ing, Julie - 2016

Book / Working Paper

Oil at risk : political violence and accelerated carbon extraction in the Middle East and North Africa

Merrill, Ryan K.; Orlando, Anthony W. - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012519652

Steering the climate system : using inertia to lower the cost of policy : comment

Mattauch, Linus; Matthews, H. Damon; Millar, Richard; … - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012216104

Steering the climate system : using inertia to lower the cost of policy : reply

Lemoine, Derek; Rudik, Ivan - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012216106

Mining and Quasi-Option Value

Costello, Christopher J. - 2015

We study the timing-of-extraction problem facing a decentralized mine owner when extraction entails environmental damage. As expected, when the environmental damage from mining is known, the socially optimal timing will depend on the magnitude of the damage relative to these costs in the rest of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013019516

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Mining and Quasi-Option Value

Costello, Christopher - 2015

Book / Working Paper

Too Little Oil, Too Much Coal : Optimal Carbon Tax and When to Phase in Oil, Coal and Renewables

van der Ploeg, Rick - 2015

Our main message is that it is optimal to use less coal and more oil once one takes account of coal being a backstop which emits much more CO2 than oil. The way of achieving this is to have a steeply rising carbon tax during the initial oil-only phase, a less-steeply rising carbon tax during the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013037776

Steering the climate system : using inertia to lower the cost of policy

Lemoine, Derek; Rudik, Ivan - 2017

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011752004

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Steering the Climate System : Using Inertia to Lower the Cost of Policy

Lemoine, Derek; Rudik, Ivan - 2015

Book / Working Paper

A test of the theory of nonrenewable resources : controlling for exploration and market power

Malischek, Raimund; Tode, Christian - 2015

Despite the central role of the Hotelling model within the theory of nonrenewable resources, tests of the model are rarely found. If existent, these tests tend to ignore two key features, namely market power and exploration. We therefore suggest an extension of the basic Hotelling framework to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010530605

Optimum commodity taxation with a non-renewable resource

Daubanes, Julien; Lasserre, Pierre - 2015

Under standard assumptions, optimum commodity taxation (OCT) should target non-renewable resources (NRRs) in priority. NRRs should be taxed at a higher rate than otherwise-identical conventional commodities. NRR substitutes and complements should receive a particular tax treatment. When reserves...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010496926

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Optimum Commodity Taxation with a Non-Renewable Resource

Daubanes, Julien; Lasserre, Pierre - 2011

Book / Working Paper

Resource market power and levels of knowledge in general equilibrium

Marz, Waldemar; Pfeiffer, Johannes - 2015

We analyze monopoly power in a market for a complementary fossil resource like oil in a two country/two period model with international trade in general equilibrium. Focusing on the complex interplay of capital and resource market, we elaborate how these effects feed back into the resource...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010502694

Hotelling under pressure

Anderson, Soren T.; Kellogg, Ryan; Salant, Stephen W. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011893509

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Hotelling Under Pressure

Anderson, Soren T. - 2014

Book / Working Paper

Hotelling Under Pressure

Anderson, Soren T. - 2014

Book / Working Paper

Hotelling Under Pressure

Anderson, Soren T. - 2014

Book / Working Paper

The Elephant in the Ground : Managing Oil and Sovereign Wealth

Van Den Bremer, Ton - 2014

Oil exporters typically do not consider below-ground assets when allocating their sovereign wealth fund portfolios, and ignore above-ground assets when extracting oil. We present a unified framework for considering both. Subsoil oil should alter a fund's portfolio through additional leverage and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013045681

Nonrenewable Resources, Strategic Behavior and the Hotelling Rule : An Experiment

Veldhuizen, Roel van; Sonnemans, Joep - 2014

This study uses the methods of experimental economics to investigate possible causes for the failure of the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are high enough, producers may choose to (partially) ignore the dynamic component of their production...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014186740

Price formation of exhaustible resources : an experimental investigation of the Hotelling rule

Neumann, Christoph; Erlei, Mathias - 2014

In 1931 Harold Hotelling published his seminal contribution to the economic theory of exhaustible resources. His major insight states that the prices of exhaustible resources - more specifically the scarcity rent - will rise at the rate of interest, and consumption will decline over time. The...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010481219

Battle for climate and scarcity rents : beyond the linear-quadratic case

Kagan, Mark; Ploeg, Frederick van der; Withagen, Cees - 2015

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011288632

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Battle for climate and scarcity rents : beyond the linear-quadratic case

Kagan, Mark; Ploeg, Frederick van der; Withagen, Cees - 2014

Book / Working Paper

Steering the climate system : using inertia to lower the cost of policy

Lemoine, Derek; Rudik, Ivan - 2014

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010362835

Modeling peak oil and the geological constraints on oil production

Okullo, Samuel J.; Reynès, Frédéric; Hofkes, Marjan W. - 2014

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011283339

International capital markets, oil producers and the green paradox

Meijden, Gerard van der; Ploeg, Frederick van der; … - 2014

A rapidly rising carbon tax leads to faster extraction of fossil fuels and accelerates global warming. We analyze how general equilibrium effects operating through the international capital market affect this Green Paradox. In a two-region, two-period world with identical homothetic preferences...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010412300

Nonrenewable resources, strategic behavior and the hotelling rule : an experiment

Veldhuizen, Roel van; Sonnemans, Joep - 2014

This study uses the methods of experimental economics to investigate possible reasons for the lack of empirical support for the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are large enough, producers may choose to (partially) ignore the dynamic component...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010340880

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