ERN: Microeconometric Models of Carbon Markets (Topic)最新文献

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Environmental Pollution in Asian Economies: Does the Industrialisation Matter? 亚洲经济体的环境污染:工业化是否重要?
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2020-09-01 DOI: 10.1111/opec.12181
Ayaz Zafar, Sana Ullah, Muhammad Tariq Majeed, Rizwana Yasmeen
{"title":"Environmental Pollution in Asian Economies: Does the Industrialisation Matter?","authors":"Ayaz Zafar, Sana Ullah, Muhammad Tariq Majeed, Rizwana Yasmeen","doi":"10.1111/opec.12181","DOIUrl":"https://doi.org/10.1111/opec.12181","url":null,"abstract":"Industrialisation is a significant part of any country's economic development. This study discusses the relationship between industrialisation and carbon dioxide emissions for Asian economies. The industrialisation has a major impact on carbon emissions, but its relationship with the environment differs in various regions of Asia. The empirical results are obtained by models of panel regression, which divide a balanced panel dataset of 46 countries into five groups depending on their subregions over the period 1991–2017. The tests of panel cointegration estimation found a majority of the cointegrated variables and verified the long‐run relationship between the variables. The long‐run coefficients are estimated using a fully modified ordinary least‐squares (FMOLS) method, and results conclude that industrialisation has a positive impact on the carbon dioxide emissions in the long run. These findings reveal that various industrialisation development strategies should be pursued in a bid to reduce emissions, depending on the levels of economic growth. Based on the findings, some policy suggestions are proposed for Asian economies.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128359093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 54
Climate Change and Kuznets Curve: Portuguese Experience 气候变化和库兹涅茨曲线:葡萄牙的经验
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2018-05-01 DOI: 10.2139/ssrn.3180522
N. Leitão
{"title":"Climate Change and Kuznets Curve: Portuguese Experience","authors":"N. Leitão","doi":"10.2139/ssrn.3180522","DOIUrl":"https://doi.org/10.2139/ssrn.3180522","url":null,"abstract":"The climate change has inspired the interest of the academic community in the most diverse areas of knowledge. This study tests and revisited the environmental Kuznets curve assumptions for Portugal. The econometric strategy used in this research is time series (ARIMA model, OLS estimator, ARCH regression, VAR model, and Granger causality) for the time period 1980-2013.The econometric results show that the income per capita and squared income per capita are according to the expected signs, i.e. a positive impact of income per capita on carbon dioxide emissions, and a negative effect of squared income per capita on carbon dioxide emissions. The empirical study also demonstrates that Portugal presents a dependence on energy consumption. The openness trade and foreign direct investment are negatively correlated with carbon dioxide emissions.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117221607","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Big and Little Feet Provincial Profiles: British Columbia 大脚和小脚省概况:不列颠哥伦比亚省
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2017-09-28 DOI: 10.11575/SPPP.V10I0.43051
S. Dobson, G. Fellows
{"title":"Big and Little Feet Provincial Profiles: British Columbia","authors":"S. Dobson, G. Fellows","doi":"10.11575/SPPP.V10I0.43051","DOIUrl":"https://doi.org/10.11575/SPPP.V10I0.43051","url":null,"abstract":"This communique provides a summary of the production- and consumption-based greenhouse gas emissions accounts for British Columbia, as well as their associated trade flows. It is part of a series of communiques profiling the Canadian provinces and territories.1 In simplest terms, a production-based emissions account measures the quantity of greenhouse gas emissions produced in British Columbia. In contrast, a consumptionbased emissions account measures the quantity of greenhouse gas emissions generated during the production process for final goods and services that are consumed in British Columbia through household purchases, investment by firms and government spending. Trade flows refer to the movement of emissions that are produced in British Columbia but which support consumption in a different province, territory or country (and vice versa). For example, emissions at the Port of Vancouver that are associated with goods that are subsequently exported to Ontario for sale are recorded as a trade flow from British Columbia to Ontario. Moving in the opposite direction, emissions associated with the production of Alberta crude oil that is refined in British Columbia and sold as motor gasoline to a British Columbia consumer are recorded as a trade flow from Alberta to British Columbia. For further details on these results in a national context, the methodology for generating them and their policy implications, please see the companion papers to this communique series: (1) Fellows and Dobson (2017); and (2) Dobson and Fellows (2017). Additionally, the consumption emissions and trade flow data for each of the provinces and territories are available at: http://www.policyschool.ca/embodied-emissions-inputs-outputs-datatables-2004-2011/.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134157868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Big and Little Feet Provincial Profiles: Manitoba 大脚和小脚:曼尼托巴省
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2017-09-28 DOI: 10.11575/SPPP.V10I0.43054
S. Dobson, G. Fellows
{"title":"Big and Little Feet Provincial Profiles: Manitoba","authors":"S. Dobson, G. Fellows","doi":"10.11575/SPPP.V10I0.43054","DOIUrl":"https://doi.org/10.11575/SPPP.V10I0.43054","url":null,"abstract":"This communique provides a summary of the production- and consumption-based greenhouse gas emissions accounts for Manitoba, as well as their associated trade flows. It is part of a series of communiques profiling the Canadian provinces and territories.1 In simplest terms, a production-based emissions account measures the quantity of greenhouse gas emissions produced in Manitoba. In contrast, a consumption-based emissions account measures the quantity of greenhouse gas emissions generated during the production process for final goods and services that are consumed in Manitoba through household purchases, investment by firms and government spending. Trade flows refer to the movement of emissions that are produced in Manitoba but which support consumption in a different province, territory or country (and vice versa). For example, emissions associated with the production of Manitoba crops that are exported to Ontario for processing and sale in an Ontario grocery store are recorded as a trade flow from Manitoba to Ontario. Moving in the opposite direction, emissions associated with the production of motor gasoline in Alberta that is exported to Manitoba for sale are recorded as a trade flow from Alberta to Manitoba. For further details on these results in a national context, the methodology for generating them and their policy implications, please see the companion papers to this communique series: (1) Fellows and Dobson (2017); and (2) Dobson and Fellows (2017). Additionally, the consumption emissions and trade flow data for each of the provinces and territories are available at: http://www.policyschool.ca/embodied-emissions-inputs-outputs-datatables-2004-2011/.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114724372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How Do Regional Interactions in Space Affect China's Mitigation Targets and Economic Development? 空间区域互动如何影响中国减排目标和经济发展?
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2017-06-08 DOI: 10.2139/ssrn.2982995
Lu Wang, Hao Yu, Yi-Ming Wei
{"title":"How Do Regional Interactions in Space Affect China's Mitigation Targets and Economic Development?","authors":"Lu Wang, Hao Yu, Yi-Ming Wei","doi":"10.2139/ssrn.2982995","DOIUrl":"https://doi.org/10.2139/ssrn.2982995","url":null,"abstract":"China is faced with the big challenge of maintaining a remarkable economic growth in an environmental friendly manner; that is why forecasting the turning point is of necessity. Traditional econometric approaches do not consider the spatial dependence that inevitably exists in the economic units, which probably risks misspecification and generating a biased estimation result. This paper firstly constructs Theil index to measure the intra-and inter regional inequality of CO2 emissions, we find that difference in emissions between regions is narrowed but gap within the Western China is sharply expanding. Then the Spatial Durbin model is employed to shape the relationship between mitigation and economic growth using the panel data of 29 provinces ranging from 1995 to 2011. Results show that the peak of per capita carbon dioxide emissions in China would be seen when GDP per capita reaches between $USD 21594 to 24737 (at 2000 constant price), much smaller when compared with the estimations of models which ignore the spatial dependence. This implies that territorial policy and industry transfer, on one hand would favor those underdeveloped regions with investment, technology and labors transfer; on the other hand enables developed regions more potential to mitigation, thus, chances are that China achieves the emissions peak of carbon dioxide earlier than conventional wisdom.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132287979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 22
Prolonging Coal's Sunset: The Causes and Consequences of Local Protectionism for a Declining Polluting Industry 延长煤炭的夕阳:地方保护主义对一个日益衰落的污染行业的原因和后果
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2017-02-01 DOI: 10.3386/W23190
Jonathan Eyer, Matthew E. Kahn
{"title":"Prolonging Coal's Sunset: The Causes and Consequences of Local Protectionism for a Declining Polluting Industry","authors":"Jonathan Eyer, Matthew E. Kahn","doi":"10.3386/W23190","DOIUrl":"https://doi.org/10.3386/W23190","url":null,"abstract":"In recent years, the share of U.S electricity generated by coal has fallen from nearly 50% to 33%. The costs of this transition are spatially concentrated, and mining states have already lost income due to the reduced demand for coal. Coal states have enacted policies to encourage local power plants to purchase from within state mines. We document that power plants in states and counties with substantial mining activity are more likely to be coal fired and to purchase more within political boundary coal. These results are robust to including flexible controls for the distance from power plants to mines. While coal states benefits from local protectionism, these efforts impose social costs because coal mining and coal burning creates significant environmental consequences. We quantify these effects and find that a one-percentage point increase in the proportion of coal plants in a NERC region with an in-state coal mine results in approximately 2.3 million additional annual tons of CO2 emissions.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"254 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116375102","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Distributional and Environmental Effects of an Emissions-Differentiated Car Sales Tax 排放差别汽车销售税的分配和环境影响
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2016-10-21 DOI: 10.2139/ssrn.3050123
Robin Stitzing
{"title":"Distributional and Environmental Effects of an Emissions-Differentiated Car Sales Tax","authors":"Robin Stitzing","doi":"10.2139/ssrn.3050123","DOIUrl":"https://doi.org/10.2139/ssrn.3050123","url":null,"abstract":"European countries introduced a combination of demand-side fiscal policies and mandatory supply-side emissions standards to reduce CO2 emissions rates of new cars. I quantify the equilibrium response to one of the most drastic demand-side policies, the Finnish CO2 differentiation of automobile sales tax rates. Despite having a drastic market impact, this environmental tax reform did not drive the observed decline of new-car CO2 emissions rates, given the concurrent introduction of mandatory EUCO2 emissions standards for manufacturers. The CO2 tax-rate differentiation however led to increased local pollution by promoting the sale of diesel-powered cars. The tax reform had a positive net welfare effect as it lowered tax rates on average. It was nonetheless also a regressive policy with large tax revenue losses and a disproportional benefit to high-income consumers. Optimal fiscal policy aiming to balance environmental and public finance goals needs to consider both the market structure as well as other concurrent policies on different levels of government.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127334296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Using a Free Permit Rule to Forecast the Marginal Abatement Cost of Proposed Climate Policy 利用免费许可规则预测拟议气候政策的边际减排成本
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2016-05-01 DOI: 10.1257/AER.20150781
Kyle C. Meng
{"title":"Using a Free Permit Rule to Forecast the Marginal Abatement Cost of Proposed Climate Policy","authors":"Kyle C. Meng","doi":"10.1257/AER.20150781","DOIUrl":"https://doi.org/10.1257/AER.20150781","url":null,"abstract":"Abstract This paper develops a method for forecasting the marginal abatement cost (MAC) of climate policy using three features of the failed Waxman-Markey bill. First, the MAC is revealed by the price of traded permits. Second, the permit price is estimated using a regression discontinuity design (RDD) comparing stock returns of firms on either side of the policy's free permit cutoff rule. Third, because Waxman-Markey was never implemented, I extend the RDD approach to incorporate prediction market prices which normalize estimates by policy realization probabilities. A final bounding analysis recovers a MAC range of $5 to $19 per ton CO2e. (JEL G12, G14, Q52, Q54, Q58)","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134045512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 42
Regional Carbon Budgets: Do They Matter for Climate Policy? 地区碳预算:对气候政策重要吗?
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2015-07-29 DOI: 10.2139/ssrn.2637298
M. Tavoni, D. V. van Vuuren
{"title":"Regional Carbon Budgets: Do They Matter for Climate Policy?","authors":"M. Tavoni, D. V. van Vuuren","doi":"10.2139/ssrn.2637298","DOIUrl":"https://doi.org/10.2139/ssrn.2637298","url":null,"abstract":"Carbon budgets have emerged as a robust metric of warming, but little is known about the usefulness of regional carbon budgets as indicators of policy. This article explores the potential of regional carbon budgets to inform climate policy. Using the large database of scenarios from IPCC AR5 WGIII, we show that regional budgets are important metrics of the long term contribution to climate change and the effort required to mitigate it. However, their value appears to be more limited for informing short term courses of actions, and for predicting the economic consequences of emission reduction policies.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"213 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133511394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
The Return and Volatility Spillover between Carbon Futures Market and Global Financial, Energy and Commodity Futures Markets 碳期货市场与全球金融、能源和商品期货市场的回报和波动溢出效应
ERN: Microeconometric Models of Carbon Markets (Topic) Pub Date : 2015-03-01 DOI: 10.2139/ssrn.2613242
Ziran Li, Mengchen Ji, H. Qiao, Shouyang Wang
{"title":"The Return and Volatility Spillover between Carbon Futures Market and Global Financial, Energy and Commodity Futures Markets","authors":"Ziran Li, Mengchen Ji, H. Qiao, Shouyang Wang","doi":"10.2139/ssrn.2613242","DOIUrl":"https://doi.org/10.2139/ssrn.2613242","url":null,"abstract":"Financialization of carbon market and global economy have made the fluctuation of carbon emission allowance prices vulnerable to international shocks and risk management become more and more complicated for both investors and fossil fuel consumption enterprises. Based on studying the ergodicity of the Granger causality test for different lag-lengths, this paper investigates the return and volatility transmission between carbon futures price and a data set of 19 financial, energy and commodity time series results show that there exists several causal relationships between carbon futures market and financial, energy and commodity futures markets. The connections between carbon futures market and financial markets are especially strong. Despite that spillovers in different phases are different, volatility linkage between carbon futures markets and these markets is closer and stronger than the return linkage in general. Moreover, extreme returns and risks also have significant leading impacts on regular returns and risks.","PeriodicalId":358877,"journal":{"name":"ERN: Microeconometric Models of Carbon Markets (Topic)","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130604247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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