Energy Economics最新文献

{"title":"Exploring sustainable energy consumption practices: An extended environmental value-belief-norm framework using SEM analysis","authors":"Vikas Kumar ,&nbsp;Amanpreet Kaur ,&nbsp;Dongmei Cao ,&nbsp;Rahul Sindhwani ,&nbsp;K. Mathiyazhagan ,&nbsp;Boqiang Lin","doi":"10.1016/j.eneco.2025.108408","DOIUrl":"10.1016/j.eneco.2025.108408","url":null,"abstract":"<div><div>With increasing global emphasis on sustainable energy development and the transition to a low-carbon economy, understanding the drivers behind consumer adoption of eco-friendly products is crucial. This paper attempts to respond to this need by analyzing the economic implications of sustainable energy consumption habits. Utilizing an extended environmental Value-Belief-Norm (VBN) model, the research examines how values, beliefs, and a sense of obligation influence consumers' Willingness to Pay More (WTPM) for eco-friendly home products, Word-Of-Mouth intention (WOM) and sustainable consumption behaviors. The study employs survey data from 517 participants across India, analyzed through structural equation modeling (SEM) and complemented by insights from semi-structured interviews. The findings suggest that the biospheric, altruistic, and egoistic values subsequently create an ecological worldview in consumers. Ecological worldviews, in turn, impact consequences such as consumers' responsibility and subsequent behaviors, including WOM and WTPM, and the adoption of eco-friendly products. The study refines the VBN model and identifies key motivators and barriers to sustainable consumption. It guides policymakers and businesses to promote eco-friendly practices by highlighting the benefits of sustainable products and leveraging advanced technology to create eco-friendly home solutions.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108408"},"PeriodicalIF":13.6,"publicationDate":"2025-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143677561","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":"Did shale gas green the U.S. economy?","authors":"David Lindequist,&nbsp;Samuel Selent","doi":"10.1016/j.eneco.2025.108388","DOIUrl":"10.1016/j.eneco.2025.108388","url":null,"abstract":"<div><div>Since the mid-2000s, hydraulic fracturing (’fracking’) has significantly altered the U.S. energy landscape through a surge in shale gas production. Employing synthetic control methods, we evaluate the effect of the shale gas boom on U.S. emissions and various energy metrics. We find that the boom reduced average annual U.S. greenhouse gas emissions per capita by roughly 7.5%. Drawing on the existing literature on the environmental impact of shale gas, we decompose this overall treatment effect into changes in the fossil fuel mix (the substitution effect), changes in the speed of the transition to non-fossil energy sources (the transition effect), and changes in overall energy consumption (the consumption effect). Our results indicate that the estimated treatment effect is attributable to an energy mix in which natural gas replaces coal, an accelerated transition to renewable energies, and a decrease in energy consumption, largely driven by decreases in energy intensity. Our findings highlight the role of shale gas as a ’bridge fuel’ for the U.S. economy between 2007 and 2019, an energy source facilitating the transition from carbon-intensive fossil fuels to cleaner energy sources.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108388"},"PeriodicalIF":13.6,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143696937","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}

{"title":"Corrigendum to “Porter in China: A quasi-experimental view of market-based environmental regulation effects on firm performance” [Energy Economics Volume 126, October 2023, 106966]","authors":"Abd Alwahed Dagestani ,&nbsp;Yuping Shang ,&nbsp;Nicolas Schneider ,&nbsp;Javier Cifuentes-Faura ,&nbsp;Xin Zhao","doi":"10.1016/j.eneco.2025.108405","DOIUrl":"10.1016/j.eneco.2025.108405","url":null,"abstract":"","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108405"},"PeriodicalIF":13.6,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643961","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}

{"title":"Does monetary policy fuel energy consumption across the world? Focus on inflation targeting","authors":"Christophe Martial Mbassi,&nbsp;Cyrille Michel Samba,&nbsp;Thérèse Elomo Zogo","doi":"10.1016/j.eneco.2025.108417","DOIUrl":"10.1016/j.eneco.2025.108417","url":null,"abstract":"<div><div>This paper contributes to the ongoing discussion about “ecological macroeconomics”. Specifically, we explore the effects of monetary policy, namely inflation targeting (IT), on energy consumption in a global sample of 145 countries between 1980 and 2017. We use various standard panel data approaches such as fixed effects (within) estimator, and two-step system GMM among others, followed by propensity score matching to address the self-selection bias inherent in IT adoption. Our results show that IT significantly increases energy consumption, and this effect goes through the macroeconomic volatility and FDI channels. Moreover, improvements in the institutional framework mitigate the effect of IT. The results also highlight the importance of central bank experience given that, over time, IT significantly reduces energy consumption. Finally, we find that the effect of IT on renewable energy consumption is not robust. Overall, our results point out the need to have environmental considerations in designing macroeconomic policies to foster the ecological transition.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108417"},"PeriodicalIF":13.6,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143704350","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":"WITHDRAWN: Supporting the rapid deployment of renewable energy sources: The role of innovative financing mechanisms in achieving COP28 energy goals","authors":"Hui Sun, Xinyi Liang, Haiyang Yu, Yanzhao Zeng, Zeyu Wang","doi":"10.1016/j.eneco.2025.108424","DOIUrl":"https://doi.org/10.1016/j.eneco.2025.108424","url":null,"abstract":"This article has been withdrawn at the request of the author(s) and/or editor due to an error in the publishing process. The Publisher apologizes for any inconvenience this may cause.","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"22 1","pages":""},"PeriodicalIF":12.8,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143744705","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":"A study on anchoring Swedish inflation expectations in times of turbulence","authors":"Xiang Lin,&nbsp;Xiaoying Li","doi":"10.1016/j.eneco.2025.108416","DOIUrl":"10.1016/j.eneco.2025.108416","url":null,"abstract":"<div><div>This study examines the anchoring of inflation expectations in Sweden during the period characterised by volatile energy prices and elevated inflation. Using inflation expectations data from Swedish households (HH) and money market participants (MMP) through June 2024, as well as financial market participants (MB) up to April 2023, we employ a kernel-based regularised least squares model to estimate pointwise marginal responses. A Markov Regime Switching Autoregressive model is subsequently applied to identify structural breaks characterised by regime shifts in marginal responses to energy price and underlying inflation, respectively. Our findings indicate that recent turbulence has triggered multiple breaks, Specifically, MMP 1-year expectations oscillate between being anchored and unanchored in response to energy price inflation, whereas MMP 5-year expectations remain anchored to energy price shocks but exhibit shifts in persistence and volatility. Additionally, we find that all inflation expectations remain anchored to underlying inflation despite the turbulence. This suggests that recent fluctuations in inflation expectations can largely be attributed to energy price inflation. These results contrast with those derived from models that exclude structural breaks, underscoring the importance of incorporating dynamic features when assessing the anchoring of inflation expectations.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108416"},"PeriodicalIF":13.6,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143677564","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}

{"title":"Evaluating the role of green innovation and global supply chain digitization in natural resource utilization for energy resilience: An empirical evidence from panel quantile regression","authors":"Yonghong Zhang ,&nbsp;Yao Li ,&nbsp;Hong Wu ,&nbsp;Yinan Peng","doi":"10.1016/j.eneco.2025.108401","DOIUrl":"10.1016/j.eneco.2025.108401","url":null,"abstract":"<div><div>Overexploitation of natural resources has globally become a major concern. This has prompted researchers to investigate the key factors that influence natural resource utilization and identify potential solutions to mitigate the associated issues. The excessive use of natural resources relies on supply chain distribution and green innovation development. To fill the literature and empirical gap, the present study evaluates the role of green innovation and global supply chain digitization in natural resource utilization. The study works on a global panel set of 133 economies from 1990 to 2023. The study uses the Simultaneous Panel Quantile Regression approach to capture the conditional distribution of natural resource usage across various economies, whereas the baseline regression model is pooled Ordinary Least Squares. The regression outcomes suggested the positive role of green innovation, digitization, and building materials in natural resource usage in the highest quantile. The resource impact of global supply chain distribution is reported to be positive in the highest quantile and negative in the lowest quantile. Furthermore, it was discovered that building materials had a favorable impact on the use of natural resources at every quantile. By showing how process and technology advancements can either improve or worsen resource usage, depending on their degree of application, the study substantiates the existence of the environmental rebound effect in 133 economies. According to the findings, authorities must concentrate on boosting digital supply chains and green innovation, encouraging eco-friendly technology, and putting plans in place to lessen the strain on natural resources. To move toward a more sustainable and knowledge-based economy, suggestions include enacting green taxes, offering financial incentives for environmentally friendly substitutes, luring in foreign direct investment, and bolstering green finance.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108401"},"PeriodicalIF":13.6,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143677565","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":"Geographical Bayesian second stage analysis for operating efficiency of Brazilian electricity distribution system operators","authors":"Marcelo Azevedo Costa ,&nbsp;Aline Veronese da Silva ,&nbsp;Leandro Brioschi Mineti","doi":"10.1016/j.eneco.2025.108371","DOIUrl":"10.1016/j.eneco.2025.108371","url":null,"abstract":"<div><div>Since 2011, the Brazilian electricity regulator has applied data envelopment analysis to estimate regulatory operating costs for distribution and transmission companies. Despite the availability of environmental or contextual variables, second-stage analysis has been avoided, primarily due to inconsistent statistical results, including estimated coefficients contrary to technical evidence and significant changes in operating efficiencies for selected companies. Previous studies have shown that environmental adjustments are critical for companies’ revenues operating in harsh environments in Brazil. Additionally, climate changes are affecting expenses with varying effects nationwide. To tackle this challenge, a second-stage model in which changes in efficiencies are also affected by geographical location of companies is proposed. Coefficient constraints and multiple environmental variables are applied to estimate regulatory efficiencies of Brazilian Distributor System Operators for upcoming years. Results indicate maximum efficiency changes of +5.35% and an increase of 1.1% in the total regulatory OPEX if the proposed second stage is applied.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108371"},"PeriodicalIF":13.6,"publicationDate":"2025-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643962","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":"Financial innovation and corporate climate policy uncertainty exposure: Evidence from China's crude oil futures","authors":"Feng He ,&nbsp;Longxuan Chen ,&nbsp;Ziqiao Wang ,&nbsp;Wei Zhang","doi":"10.1016/j.eneco.2025.108426","DOIUrl":"10.1016/j.eneco.2025.108426","url":null,"abstract":"<div><div>The global proliferation of climate policy revisions has expanded the uncertainty spectrum confronting corporate entities, posing novel challenges to enterprise risk management frameworks. Exploiting the exogenous shock of China's crude oil futures market launch, this study provides causal evidence on whether derivative instrument innovation could mitigate corporate climate policy uncertainty exposure (CPUE). By utilizing a difference-in-differences approach, we find that energy-dependent firms experience a significant reduction in CPUE after the launch of Shanghai oil futures compared with nonenergy-dependent firms. Further tests indicate that futures trading influences corporate CPUE by alleviating internal financial pressure and increasing corporate information transparency. Cross-sectional heterogeneity tests further demonstrate that the effect is more pronounced in larger firms, firms with higher financial transparency, and firms with greater managerial attention to climate risk. Our findings advance climate finance theory by providing empirical evidence from firm-level impact of energy-related financial innovation.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108426"},"PeriodicalIF":13.6,"publicationDate":"2025-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143734720","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":"A partial correlation-based connectedness approach: Extreme dependence among commodities and portfolio implications","authors":"Syed Jawad Hussain Shahzad ,&nbsp;Elie Bouri ,&nbsp;Sitara Karim ,&nbsp;Perry Sadorsky","doi":"10.1016/j.eneco.2025.108421","DOIUrl":"10.1016/j.eneco.2025.108421","url":null,"abstract":"<div><div>We propose a partial correlation-based connectedness approach to study the directional connectedness under normal and extreme market conditions among the returns of 22 commodities and compare it with the well-known Diebold and Yilmaz (i.e. generalized forecast error variance decomposition (GFEVD)) connectedness approach estimated at the mean and tails. Considering four groups of commodities, namely energy, agricultural, precious metals, and industrial metals, and daily data from September 1, 2005 to June 5, 2024, covering various crisis periods, we draw filtered networks and measures of directional connectedness. The main results are summarized as follows. Firstly, the total connectedness index captures the significant commodities related shocks, and intensifies during crises episodes, notably at the extreme lower quantile. Secondly, using partial correlations in the approach of connectedness leads to a surge of the total connectedness level at the extreme lower quantile and identifies the beginnings of major crises earlier than the GFEVD measure of connectedness. Thirdly, the connectedness structure of commodities based on partial correlation is unstable during turbulent market conditions, a feature that is ignored when the GFEVD approach of connectedness is used. Fourthly, in terms of practical implications, the partial correlation-based connectedness portfolio outperforms the GFEVD based minimum connectedness portfolio on a risk adjusted basis.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108421"},"PeriodicalIF":13.6,"publicationDate":"2025-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143677566","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}