Energy Economics最新文献_第10页

The influence of peer effects, commodity prices and its hedging on corporate capital structure: Evidence from the oil and gas industry 同行效应、商品价格及其对冲对企业资本结构的影响：来自石油和天然气行业的证据

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-29 DOI: 10.1016/j.eneco.2024.108007

Lucía Barrachina-Fernández , Francisco Sogorb-Mira

引用次数: 0

Evaluating the energy poverty in the EU countries 评估欧盟国家的能源贫困状况

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-28 DOI: 10.1016/j.eneco.2024.108020

Georgia Makridou , Ken’ichi Matsumoto , Michalis Doumpos

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Scrutinizing multi-scale and multi-quantile interactions in commodity markets: A petrochemical industrial chain perspective 审视商品市场中的多尺度和多量纲相互作用：石化产业链视角

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-28 DOI: 10.1016/j.eneco.2024.108019

Jie Yang , Yun Feng , Hao Yang

{"title":"Scrutinizing multi-scale and multi-quantile interactions in commodity markets: A petrochemical industrial chain perspective","authors":"Jie Yang , Yun Feng , Hao Yang","doi":"10.1016/j.eneco.2024.108019","DOIUrl":"10.1016/j.eneco.2024.108019","url":null,"abstract":"<div><div>From the perspective of the petrochemical industrial chain, this paper examines the interactions among five China's petrochemical commodity futures using three innovative methods - wavelet local multiple correlation, frequency connectedness framework, and quantile connectedness framework. The results show China's petrochemical markets exhibit a high degree of market integration at different time scales but decouple from international crude oil markets in the short term. The price dynamics of polypropylene (PP) and linear low-density polyethylene (LL) behave as the dominant factors to impact the price fluctuations of other commodities. The total information spillover level showcases a rapidly decreasing trend with the time scale increasing but a U-shaped curve across various quantiles and reaches the minimum at the 50th percentile. We further identified the net information transmitters and recipients in the industrial chain system and also explored the spillover shocks of two globally traded crude oil benchmarks, i.e., Brent and WTI, at different time scales and under different market conditions. They virtually always serve as net risk transmitters to China's domestic markets, but under extremely bullish market conditions, they are net influenced by the sharply upward trends of China's markets.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"140 ","pages":"Article 108019"},"PeriodicalIF":13.6,"publicationDate":"2024-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142573093","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}

引用次数: 0

Discerning the impact of global geopolitical risks on China's energy futures market spillovers: Evidence from higher-order moments 辨析全球地缘政治风险对中国能源期货市场溢出效应的影响：来自高阶矩的证据

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-28 DOI: 10.1016/j.eneco.2024.107981

Xinya Wang , Xueyun Rong , Lei Yin

{"title":"Discerning the impact of global geopolitical risks on China's energy futures market spillovers: Evidence from higher-order moments","authors":"Xinya Wang , Xueyun Rong , Lei Yin","doi":"10.1016/j.eneco.2024.107981","DOIUrl":"10.1016/j.eneco.2024.107981","url":null,"abstract":"<div><div>Global geopolitical risks matter to China's energy futures market. Through a three-stage research framework combining higher-order moment (third- and fourth-order moments), time-frequency spillover model, and the random forest technique, we identify the influence of global energy countries' geopolitical risks on China's energy futures spillovers under different time horizons. Our third-order moment (skewness) spillover results indicate that crude oil and fuel oil futures primarily play the role of net transmitters in the short-term time scale, while coking coal and bitumen futures are mainly net recipients. In the medium- and long- term time scales, however, thermal coal and fuel oil are stable net recipients. For the fourth-order moment (kurtosis) spillovers, the crude oil consistently acts as the transmitters across all time horizons, with a relatively significant net spillover value. Moreover, Russia's geopolitical risk has the most prominent impact on spillovers in China's energy futures market, followed by Saudi Arabia. Additionally, Russia and Saudi Arabia are more likely to impact upside and downside market spillovers, respectively. These results provide some implications for different types of investors and policy makers.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"140 ","pages":"Article 107981"},"PeriodicalIF":13.6,"publicationDate":"2024-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142573145","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}

引用次数: 0

Corrigendum to “Incentivizing residential electricity consumers to increase demand during periods of high local solar generation” [Energy Economics, Volume 127, Part A, November 2023, 107028] 对 "激励居民电力消费者在当地太阳能发电量高的时期增加需求 "的更正[《能源经济学》，第 127 卷，A 部分，2023 年 11 月，107028]

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-28 DOI: 10.1016/j.eneco.2024.107997

Rudolf Kapeller , Jed J. Cohen , Andrea Kollmann , Johannes Reichl

引用次数: 0

On the regulatory and economic incentives for renewable hybrid power plants in Brazil 关于巴西可再生混合动力发电厂的监管和经济激励措施

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-26 DOI: 10.1016/j.eneco.2024.107989

Alexandre Street , Pedro Prescott

{"title":"On the regulatory and economic incentives for renewable hybrid power plants in Brazil","authors":"Alexandre Street , Pedro Prescott","doi":"10.1016/j.eneco.2024.107989","DOIUrl":"10.1016/j.eneco.2024.107989","url":null,"abstract":"<div><div>The complementarity between renewable generation profiles has been widely explored in the literature. Notwithstanding, complex interactions between regulatory and economic frameworks add interesting challenges and opportunities for hybrid power plant investors, regulators, and planners. Focusing on the Brazilian power market, we study the alignment of incentives between the economically-optimized strategy of hybrid power plant investors and the efficient utilization of the transmission resources. To do that, we propose a decision model that co-optimizes the risk-adjusted strategy of a hybrid power plant owner comprising (i) the forward-market involvement, (ii) the contracted amount of network access, and (iii) the share of renewable sources composing the hybrid power plant. We also propose adjusting the current regulatory framework to consider a unified calculation for the Firm Energy Certificates of non-controllable renewable power plants, including hybrid units. Based on that, we ensure a non-discriminatory regulatory framework for renewables acknowledging the diversity of generation profiles that hybrid units may have due to their optimal hybridization shares and network-access contracting strategies. A case study using realistic data from the northeastern region of the Brazilian power system showcases strong economic incentives for hybridization with reduced transmission resource utilization.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"140 ","pages":"Article 107989"},"PeriodicalIF":13.6,"publicationDate":"2024-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142579123","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}

引用次数: 0

What drives the uranium sector risk? The role of attention, economic and geopolitical uncertainty 是什么驱动了铀行业的风险？注意力、经济和地缘政治不确定性的作用

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-26 DOI: 10.1016/j.eneco.2024.107980

Štefan Lyócsa , Neda Todorova

引用次数: 0

Regulatory impact of informality on gasoline consumption efficiency in Africa: A proposed two-part complementary hypothesis test 非正规性对非洲汽油消费效率的监管影响：拟议的两部分互补假设检验

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-24 DOI: 10.1016/j.eneco.2024.107970

Philip Kofi Adom

{"title":"Regulatory impact of informality on gasoline consumption efficiency in Africa: A proposed two-part complementary hypothesis test","authors":"Philip Kofi Adom","doi":"10.1016/j.eneco.2024.107970","DOIUrl":"10.1016/j.eneco.2024.107970","url":null,"abstract":"<div><div>This study provides new evidence for the regulatory impact of informality on gasoline efficiency in Africa. I propose a Two-Part Complementary Hypothesis (hereafter referred to as the TPCH test), advocating a differential approach to promoting gasoline efficiency: (1) an inverted U-shaped relationship between informality and gasoline inefficiency, and (2) a U-shaped relationship between government regulation and informality, with a significant level effect. The findings indicate an inverted U-shaped effect of informality on gasoline efficiency and a level-negative effect of regulation on informality. These results suggest a differential strategy for enhancing gasoline efficiency. Government regulation is more effective in economies at the pre-saturation stage (characterized by normal growth levels of informality) but proves ineffective in economies at the post-saturation stage (characterized by abnormal growth levels of informality), where energy-saving behaviors may be self-motivated. This is corroborated by the inefficiency equation, where indicators of good governance, such as the rule of law, control of corruption, and regulatory quality, are statistically significant in advancing energy efficiency goals. Gasoline efficiency performance varies across countries, with the higher performers also being the continent's most economically advanced. However, these estimates risk downward bias if outliers or unobserved/observed heterogeneity are not considered.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"140 ","pages":"Article 107970"},"PeriodicalIF":13.6,"publicationDate":"2024-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142552628","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The impact of artificial intelligence on the energy transition: The role of regulatory quality as a guardrail, not a wall 人工智能对能源转型的影响：监管质量作为护栏而非围墙的作用

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-24 DOI: 10.1016/j.eneco.2024.107988

Zequn Dong , Chaodan Tan , Biao Ma , Zhaoshuo Ning

{"title":"The impact of artificial intelligence on the energy transition: The role of regulatory quality as a guardrail, not a wall","authors":"Zequn Dong , Chaodan Tan , Biao Ma , Zhaoshuo Ning","doi":"10.1016/j.eneco.2024.107988","DOIUrl":"10.1016/j.eneco.2024.107988","url":null,"abstract":"<div><div>In recent years, the economic impact and environmental contribution of Artificial Intelligence (AI) have gradually become a new focus in academia. This study uses a panel data sample of 50 countries to explore the impact of AI on energy transition (ET), aiming to fill an important research gap. The results highlight several critical insights. First, AI has had a significant positive impact on facilitating the ET. This conclusion still holds after a series of robustness tests. Second, AI positively affects ET by promoting renewable energy technology innovation and upgrading the electricity structure, resulting in both technological and structural effects. Third, the impact of AI on ET is non-linear. Threshold effect models show that AI impacts ET differently at various levels of regulation quality (RQ), exhibiting a double threshold effect. AI hinders ET when RQ is lower than the first threshold value. When RQ is in the second range, AI significantly facilitates ET. However, when RQ exceeds the second threshold value, AI hinders ET again. These findings provide insights into the mechanisms of AI's impact on ET and emphasize that an appropriate level of regulation is crucial for AI to facilitate ET. Finally, this study analyzes heterogeneity and offers targeted policy recommendations.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"140 ","pages":"Article 107988"},"PeriodicalIF":13.6,"publicationDate":"2024-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142660146","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}

引用次数: 0

Geopolitical risks and energy uncertainty: Implications for global and domestic energy prices 地缘政治风险和能源不确定性：对全球和国内能源价格的影响

IF 13.6 2区经济学

Energy Economics Pub Date : 2024-10-24 DOI: 10.1016/j.eneco.2024.107985

Hakan Yilmazkuday

{"title":"Geopolitical risks and energy uncertainty: Implications for global and domestic energy prices","authors":"Hakan Yilmazkuday","doi":"10.1016/j.eneco.2024.107985","DOIUrl":"10.1016/j.eneco.2024.107985","url":null,"abstract":"<div><div>This paper investigates the interaction between global geopolitical risks and global energy uncertainty by focusing on their implications for global and domestic energy prices of 157 countries. The empirical investigation is based on a structural vector autoregression model covering the monthly sample period between 1996 m1-2022m10, where global real economic activity is controlled for. The results show that a unit shock to global geopolitical risk (normalized to one standard deviation) results in about 1.13 units of an increase in global energy uncertainty (normalized to one standard deviation) in the long run (after two years), whereas the corresponding effects on global energy prices are statistically insignificant. In contrast, a unit shock to global energy uncertainty results in about 52 % (57 %) of a reduction in global energy prices (global economic activity), acting like negative global demand shocks. When statistically significant country-specific results are considered in the long run, a positive shock to the global geopolitical risk affects domestic energy prices positively (negatively) in 10 % (10 %) of oil producing countries, 32.1 % (19.7 %) of non-oil producing countries, 47.2 % (0 %) of advanced economies, 55 % (0 %) of euro area countries, 25 % (22.4 %) of emerging markets, and 22.2 % (26.7 %) of developing countries. In comparison, a positive shock to the global energy uncertainty affects domestic energy prices positively (negatively) in 5 % (40 %) of oil producing countries, 3.6 % (54 %) of non-oil producing countries, 0 % (61.1 %) of advanced economies, 0 % (50 %) of euro area countries, 3.9 % (56.6 %) of emerging markets, and 6.7 % (37.8 %) of developing countries. Important policy implications follow regarding the energy security of countries.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"140 ","pages":"Article 107985"},"PeriodicalIF":13.6,"publicationDate":"2024-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142552629","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}

引用次数: 0