Energy Economics最新文献

{"title":"Climate change and innovation: Exploring the mediating role of gender equality at the firm level","authors":"Eman Abdulla ,&nbsp;King Yoong Lim ,&nbsp;Diego Morris ,&nbsp;Faten Saliba","doi":"10.1016/j.eneco.2025.108610","DOIUrl":"10.1016/j.eneco.2025.108610","url":null,"abstract":"<div><div>Based on an empirical evaluation of hypotheses derived from a novel theoretical framework linking environmental policies, gender equality and innovation, using globally comparable firm-level data we find that: (i) there is a positive correlation between firm-level gender equality and innovation; and (ii) the direct relationship between greenhouse gas emissions and innovation is ambiguous, varying across different measures. However, stricter environmental policies consistently promote innovation, and this effect extends beyond the conventional Porter Hypothesis. Both the depth (measured by policy stringency) and breadth (quantified through resource-based environmental policies) significantly enhance organizational gender equality, which in turn fosters innovation. While this relationship is less pronounced in developing countries, we find a statistically significant environment–gender nexus that positively moderates the link between environmental policy and innovation. This finding aligns with the idea that resource-focused policies play a key role in triggering an additional induced innovation channel linked to women’s empowerment.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108610"},"PeriodicalIF":13.6,"publicationDate":"2025-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144271103","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The optimal mix of thermal capacity in a load duration curve model with reserve requirements","authors":"Ignacio J. Núñez ,&nbsp;Alexander Galetovic","doi":"10.1016/j.eneco.2025.108606","DOIUrl":"10.1016/j.eneco.2025.108606","url":null,"abstract":"<div><div>In electricity markets, a share of plants’ generation capacity needs to be on standby, as reserves, to cancel imbalances produced by quick and random variations of load and generation. In this paper, we derive the optimal thermal generation mix that minimizes the joint cost of a load duration curve and requirements of reserves. We show that regulation-up reserves, which increase real-time generation when needed, requires additional capacity investments of both peak and base-load technologies. In contrast, regulation-down reserves, which are used to decrease real-time generation, shift the mix towards the peak-load capacity. In the model, we calculate energy and reserves’ marginal costs and show that marginal cost pricing decentralizes the planner’s solution with zero profits.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108606"},"PeriodicalIF":13.6,"publicationDate":"2025-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144223311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"When and how does artificial intelligence impact environmental performance?","authors":"Sana Slimani ,&nbsp;Anis Omri ,&nbsp;Sami Ben Jabeur","doi":"10.1016/j.eneco.2025.108643","DOIUrl":"10.1016/j.eneco.2025.108643","url":null,"abstract":"<div><div>As concerns grow over climate change, policymakers are increasingly exploring the synergistic potential between digital technologies and sustainable energy systems. Artificial intelligence (AI) holds promise for accelerating the transition to renewable sources through applications like smart grids, predictive maintenance, and resource optimization. However, the dynamics between AI, renewable transitions, digitalization, and their combined impacts on environmental performance remain underexplored. Against this backdrop, this study uses the PROCESS methodology of <span><span>Hayes (2017)</span></span> to provide novel insights into the conditional pathways, such as the digital economy, through which AI can indirectly support environmental sustainability via renewable energy transition for 24 developed countries. The findings indicate that renewable energy transition mediates the link between AI and environmental performance. They also show that the digital economy enhances AI's support for the renewable transition to cleaner sources. Considering renewable transition's positive influence on the AI-environmental performance nexus, the moderated mediation model suggests that digital economy moderates the mediating transition pathway. Specifically, higher digitalization likely strengthens AI's impact on transitioning to renewable alternatives. Therefore, AI has more significant indirect effects on sustainability outcomes at elevated levels of digitization that reinforce its impact on accelerating the renewable energy transition. Hence, strategic investments and partnerships across these interconnected domains can help optimize sustainable development pathways amid global decarbonization efforts.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108643"},"PeriodicalIF":13.6,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144223308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Fuel prices as a driver of sustainable mobility: Impacts on traffic volume and vehicle choice","authors":"Adhurim Haxhimusa ,&nbsp;Mario Liebensteiner","doi":"10.1016/j.eneco.2025.108617","DOIUrl":"10.1016/j.eneco.2025.108617","url":null,"abstract":"<div><div>This study examines the effect of fuel price changes on traffic volume and newly registered cars across European countries, with a particular focus on the shift toward sustainable mobility. As transportation remains heavily dependent on fossil fuels, modern economies are increasingly challenged to reduce the negative externalities associated with road traffic. Using monthly traffic data from counting stations in Switzerland, Germany, and Austria (2010–2019) and annual data on new car registrations (2000−2022) from 17 European countries, we estimate the impact of fuel prices on mobility patterns. On the intensive margin, we find a relatively inelastic response of car traffic to monthly fuel prices of −0.086, which is on the lower end compared with previous studies. On the extensive margin, higher fuel prices significantly reduce purchases of conventional diesel and gasoline cars and spur the adoption of greener electric and hybrid vehicles. The relatively low elasticity of traffic demand suggests that complementary policies, such as improved public transportation, may be necessary to enhance environmental outcomes in the countries studied. This study provides fresh insights into the effects of fuel prices on transportation patterns and contributes to the design of sustainable mobility policies.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108617"},"PeriodicalIF":13.6,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144240811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Consider payoff or emphasize learning? Exploring the effect of new dual-credit policy on electric vehicle diffusion in complex network","authors":"Dan Zhao ,&nbsp;Jian Wang ,&nbsp;Wen-wu Li ,&nbsp;Jin-huan Tang ,&nbsp;Shuai Huang","doi":"10.1016/j.eneco.2025.108622","DOIUrl":"10.1016/j.eneco.2025.108622","url":null,"abstract":"<div><div>In recent years, although the overall quality of the new energy vehicle (NEV) industry has shown an upward trend, it is difficult to ignore the turbulence in the production and sales of NEV. The impact caused by dual credit policy during the transition needs further analysis. In order to clarify the internal operating mechanism of the new dual-credit policy parameters and stably promote the booming development of the automobile industry, we construct a complex network evolutionary game model to analyze the impact of the new dual-credit policy on the electric vehicle (EV) diffusion, and further discuss the influence of different update strategies on EV diffusion. The results indicate that with the increase of NEV credit accounting coefficient, the upper limit of threshold interval of NEV credit trading price remains unchanged, while lower limit decreases. With the decrease of ratio of standard CAFC to target CAFC or the increase of requirement of NEV credits for fuel vehicle manufacturer, the upper and lower limits of threshold interval of NEV credit price are reduced. With the increasing network scale, the driving effect of Fermi function is gradually superior to EWA algorithm. These results not only reveal the complex mechanism of policy parameters on EV diffusion, but also provide theoretical basis and practical guidance for optimizing NEV industry policies.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108622"},"PeriodicalIF":13.6,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144240809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The R&D and sharing of emission reduction technology with uncertainty and carbon tax under inter-chain competition","authors":"Junlong Chen ,&nbsp;Zuli Han ,&nbsp;Jiali Liu","doi":"10.1016/j.eneco.2025.108626","DOIUrl":"10.1016/j.eneco.2025.108626","url":null,"abstract":"<div><div>This study investigates the boundaries and effects of emission reduction technology R&amp;D and sharing in competitive supply chains considering uncertainty and carbon tax, and further explores contracts to improve technology sharing. Employing a game-theoretic approach, we construct a model involving two competing supply chains, each comprising a manufacturer and a retailer, whereby manufacturers engage in Stackelberg leadership within chains and Cournot competition between chains. The analysis encompasses scenarios of no R&amp;D, unsuccessful R&amp;D, successful R&amp;D without technology sharing, and successful R&amp;D with sharing. We find that technology R&amp;D and sharing promote emission reductions and enhance manufacturers' profitability. Technology R&amp;D improves the economic and environmental performance of supply chains under certain conditions, whereas technology sharing fails to improve economic performance owing to intensified double marginalization effects. Specifically, technology sharing negatively impacts retailers' profitability and consumer surplus, ultimately reducing social welfare; meanwhile, introducing revenue-sharing contracts effectively mitigates these adverse impacts, facilitating technology sharing. Furthermore, we demonstrate that carbon tax stimulates technology R&amp;D and sharing; however, excessively high tax rates may impede economic performance, resulting in an inverted U-shaped relationship between carbon tax rates and social welfare. Optimal carbon tax rates are heavily influenced by inter-chain competition intensity and technological efficiency. This study provides novel insights by integrating inter-chain competition, technology R&amp;D uncertainty, and carbon tax into a unified framework, thereby offering meaningful implications for policymakers and supply-chain practitioners aiming to balance emission reduction with economic efficiency.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108626"},"PeriodicalIF":13.6,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144262497","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Promoting continuous emissions monitoring systems to curb rent-seeking: Evolutionary game insights","authors":"Yang Wang ,&nbsp;Dezhi Li ,&nbsp;Yigang Wei ,&nbsp;Wentao Wang","doi":"10.1016/j.eneco.2025.108639","DOIUrl":"10.1016/j.eneco.2025.108639","url":null,"abstract":"<div><div>Rent-seeking behavior (RSB), particularly in the form of carbon data fraud, undermines the effectiveness and fairness of Monitoring, Reporting, and Verification (MRV), threatening the integrity of the Emissions Trading Scheme (ETS). Continuous Emissions Monitoring Systems (CEMS) provide a robust technical solution to combat this challenge. This study investigates optimal regulatory measures for promoting CEMS adoption and curbing RSB (PCaCR), thereby enhancing MRV reliability and ETS efficacy. A tripartite evolutionary game model was developed to simulate strategic interactions among thermal power enterprises (TPEs), third-party verifiers (3PVs), and the government. Evolutionarily stable strategies (ESS) were analyzed to reveal strategic determinants and underlying mechanisms affecting stakeholders' decision-making. Results show: (1) the optimal ESS scenario occurs when TPEs voluntarily adopt CEMS, 3PVs conduct impartial verifications, and the government enforces strict supervision; (2) initial strategy choices among TPEs, 3PVs, and the government significantly influence each other's evolutionary paths; (3) strategic factors demonstrate varying degrees of sensitivity in the evolution of PCaCR, indicating that pilot policies, standard refinement, information disclosure, and reward–penalty mechanisms effectively regulate stakeholders' behaviors. This study thus provides an evolutionary game framework to analyze decision-making dynamics around CEMS adoption in the presence of rent-seeking, offering insights for robust regulatory policymaking.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108639"},"PeriodicalIF":13.6,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144240807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Resilience and performance of Islamic and conventional banks amid oil price uncertainty","authors":"Tauhidul Islam Tanin ,&nbsp;Mohammed Sharaf Mohsen Shaiban ,&nbsp;Akram Shavkatovich Hasanov ,&nbsp;Robert Brooks","doi":"10.1016/j.eneco.2025.108637","DOIUrl":"10.1016/j.eneco.2025.108637","url":null,"abstract":"<div><div>The influence of religiosity on stock price performance continues to be a subject of debate, particularly in dual banking systems, where Islamic banks (IBs) operate alongside conventional banks (CBs). This study uses an extensive dataset and applies a recursive window-based asymmetric VAR-GARCH-in-mean-BEKK model to examine the impact of oil price uncertainty (OPU) on IBs and CBs' stock returns in net oil-exporting (Egypt, Indonesia, Kuwait, Nigeria, Oman, Qatar, Saudi Arabia, and the UAE) and oil-importing (Bangladesh, Jordan, Pakistan, and Turkey) countries. Although the findings provide partial insights into IB resilience, they are inconclusive enough to holistically confirm the superiority of either IBs or CBs. This study contributes to the existing literature and emphasizes the need for further investigation of these dynamics. Understanding the effect of OPU on bank profitability is essential for long-term investors, policymakers, and those involved in regulatory reforms focused on promoting economic growth, profitability, and risk management within a dual banking system.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108637"},"PeriodicalIF":13.6,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144223312","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effects of growing-season weather on the dynamic price relationships between biofuel feedstocks","authors":"Alankrita Goswami ,&nbsp;Berna Karali","doi":"10.1016/j.eneco.2025.108581","DOIUrl":"10.1016/j.eneco.2025.108581","url":null,"abstract":"<div><div>Our study is the first to examine the effects of growing-season weather conditions on both the mean and variance of futures returns in the multipurpose agricultural commodity markets of U.S. soybean oil, Canadian canola, and Malaysian/Indonesian palm oil, based on their significance as substitutes in the global food and energy sectors. We use the vegetation health index (VHI) from major feedstock-growing regions in North America, Brazil, Malaysia, and Indonesia as an indicator of the anticipations of the future crop supply. We assess the impact of current VHI on price dynamics in these markets, we employ the EGARCH-X-DCC framework, which captures the effect of VHI-related news on both returns and short-term volatility in the food and biofuel markets. We also extend our analysis to explore how a crop's VHI, as a slow-moving determinant, influences volatility not only in its own market but also in substitute markets. For this, we use the GARCH-MIDAS-DCC framework, in which one year's worth of VHI acts as the slow-moving component in the MIDAS filter, allowing us to isolate the impact of slowly changing growing conditions on daily volatilities through the long-run component and the dynamic correlations between commodity returns. We find that information about current and longer-term growing-season weather conditions affects both the primary crop market and its substitutes. Furthermore, the broader set of crop condition information increases variability in the long-run correlation between commodity returns.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108581"},"PeriodicalIF":13.6,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144240810","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Geopolitical risk, energy market volatility, and corporate energy dependence: The role of green Total factor productivity and decentralized top management team network","authors":"Daquan Gao ,&nbsp;Songsong Li ,&nbsp;Zhihong Tian","doi":"10.1016/j.eneco.2025.108545","DOIUrl":"10.1016/j.eneco.2025.108545","url":null,"abstract":"<div><div>Most recently, geopolitical tensions have been escalating, as shown by the Russia-Ukraine war and Palestine-Israel conflict, yet there is still lack of understanding in the current literature of how firms strategically respond to the resulting energy market volatility at the micro-level. This research gap undermines the ability to develop effective corporate resilience strategies against these joint shocks. This study addresses this pressing research gap by investigating geopolitical risk-energy price volatility linkages on corporate energy dependence with data from 1739 Chinese non-financial firms from 2013 to 2022. We develop a novel Self-Attention-GARCH-Wavelet-Copula model to quantify dynamic geopolitical-energy market interactions. Extending the resource dependence theory to a micro-level analysis, we reveal that firms strategically mitigate external vulnerabilities by enhancing green total factor productivity (GTFP), which serves as a critical mediator that transforms external constraints into opportunities. Furthermore, decentralized top management teams significantly enhance this adaptation mechanism through enhanced cognitive diversity and environmental scanning. Institutional arrangements and industrial structures fundamentally determine the adaptive capabilities of firms, with non-state and non-energy-intensive firms showing more strategic flexibility. Theoretically, we advance the resource dependence theory by proposing a geopolitical-energy dependency framework that identifies micro-level adaptation pathways that have been previously overlooked. Our findings provide crucial insights for executives to implement systematic monitoring systems, prioritize green productivity initiatives, and develop decentralized governance structures. Policymakers should establish sector-specific warning systems, offer targeted subsidies for GTFP toward input optimization and pollution reduction, and incentivize diversity in top management teams to increase organizational resilience against geopolitical energy disruptions.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"148 ","pages":"Article 108545"},"PeriodicalIF":13.6,"publicationDate":"2025-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144204101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}