发布求助
文献互助 智能选刊 最新文献

EnergyRN: Energy Economics (Topic)最新文献

筛选
英文 中文
Redispatch in Zonal Pricing Electricity Markets 区域定价电力市场中的再分配
EnergyRN: Energy Economics (Topic) Pub Date : 2019-05-20 DOI: 10.2139/ssrn.3644217
Mario Blázquez de Paz
{"title":"Redispatch in Zonal Pricing Electricity Markets","authors":"Mario Blázquez de Paz","doi":"10.2139/ssrn.3644217","DOIUrl":"https://doi.org/10.2139/ssrn.3644217","url":null,"abstract":"Zonal pricing electricity markets operate sequentially. First, the suppliers compete in a spot market. Second, to alleviate the congestion in the transmission line, in a redispatch market, the suppliers in the importing node are called into operation to increase their production, and the suppliers in the exporting node are compensated to reduce their production. I characterize the equilibrium in a zonal market when the competition is imperfect and the spot and redispatch markets operate sequentially. I also work out the equilibrium when the transmission line is taken into account in the spot market, i.e., it is not necessary to introduce a redispatch market to alleviate the congestion in the transmission line. I find that the consumers' welfare and suppliers' profits depend crucially on the type of redispatch design implemented by the auctioneer, and that could introduce long term investment distortions.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130470577","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
A Tale of Two Premiums: The Role of Hedgers and Speculators in Commodity Futures Markets 两个溢价的故事:对冲者和投机者在商品期货市场中的作用
EnergyRN: Energy Economics (Topic) Pub Date : 2019-04-19 DOI: 10.2139/ssrn.2449315
W. Kang, K. Rouwenhorst, Ke Tang
{"title":"A Tale of Two Premiums: The Role of Hedgers and Speculators in Commodity Futures Markets","authors":"W. Kang, K. Rouwenhorst, Ke Tang","doi":"10.2139/ssrn.2449315","DOIUrl":"https://doi.org/10.2139/ssrn.2449315","url":null,"abstract":"This paper studies the dynamic relation between position changes and short-horizon returns in commodity futures markets. Speculators follow momentum strategies and trade more impatiently than hedgers, who trade as contrarians. Commodity futures prices predictably increase (decrease) following hedgers’ buying (selling) activity. This predictability is stronger when hedgers face more binding funding constraints and higher inventory pressure. These findings are consistent with the view that hedgers receive compensation for providing liquidity to speculators.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121818892","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: 100
Making Carbon Taxation a Generational Win Win 使碳税成为两代人的双赢
EnergyRN: Energy Economics (Topic) Pub Date : 2019-04-01 DOI: 10.3386/W25760
L. Kotlikoff, Felix Kubler, A. Polbin, J. Sachs, S. Scheidegger
{"title":"Making Carbon Taxation a Generational Win Win","authors":"L. Kotlikoff, Felix Kubler, A. Polbin, J. Sachs, S. Scheidegger","doi":"10.3386/W25760","DOIUrl":"https://doi.org/10.3386/W25760","url":null,"abstract":"Carbon taxation has been studied primarily in social planner or infinitely lived agent models, which trade off the welfare of future and current generations. Such frameworks obscure the potential for carbon taxation to produce a generational win-win. This paper develops a largescale, dynamic 55-period, OLG model to calculate the carbon tax policy delivering the highest uniform welfare gain to all generations. The OLG framework, with its selfish generations, seems far more natural for studying climate damage. Our model features coal, oil, and gas, each extracted subject to increasing costs, a clean energy sector, technical and demographic change, and Nordhaus (2017)’s temperature/damage functions. Our model’s optimal uniform welfare increasing (UWI) carbon tax starts at $30 tax, rises annually at 1.5 percent and raises the welfare of all current and future generations by 0.73 percent on a consumption-equivalent basis. Sharing efficiency gains evenly requires, however, taxing future generations by as much as 8.1 percent and subsidizing early generations by as much as 1.2 percent of lifetime consumption. Without such redistribution (the Nordhaus “optimum†), the carbon tax constitutes a win-lose policy with current generations experiencing an up to 0.84 percent welfare loss and future generations experiencing an up to 7.54 percent welfare gain. With a six-times larger damage function, the optimal UWI initial carbon tax is $70, again rising annually at 1.5 percent. This policy raises all generations’ welfare by almost 5 percent. However, doing so requires levying taxes on and giving transfers to future and current generations ranging up to 50.1 percent and 10.3 percent of their lifetime consumption. Delaying carbon policy, for 20 years, reduces efficiency gains roughly in half.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127924577","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: 37
Forward or Backward Simulation?: A Comparative Study 向前还是向后模拟?:比较研究
EnergyRN: Energy Economics (Topic) Pub Date : 2019-02-06 DOI: 10.2139/ssrn.3329919
P. Sabino
{"title":"Forward or Backward Simulation?: A Comparative Study","authors":"P. Sabino","doi":"10.2139/ssrn.3329919","DOIUrl":"https://doi.org/10.2139/ssrn.3329919","url":null,"abstract":"The aim of this study is to present algorithms for the backward simulation of standard processes that are commonly used in financial applications. We extend the works of Ribeiro and Webber and Avramidis and L’Ecuyer on gamma bridge and obtain the backward construction of a Gamma process. Moreover, we are able to write a novel acceptance-rejection algorithm to simulate Inverse Gaussian (IG) processes backward in time. Therefore, using the time-change approach, we can easily get the backward generation of the Compound Poisson with infinitely divisible jumps, the Variance–Gamma the Normal–Inverse–Gaussian processes and then the time-changed version of the OU process (SubOU) introduced by Li and Linetsky. We then compare the computational costs of the sequential and backward path generation of such processes and show the advantages of adopting the latter one, in particular in the context of pricing American options or energy facilities like gas storages.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131343698","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: 1
Autogenous adaptation and the distributional effects of heat 热的自适应和分布效应
EnergyRN: Energy Economics (Topic) Pub Date : 2019-01-24 DOI: 10.2139/ssrn.3421890
Yun Qiu, Jinhuan Zhao
{"title":"Autogenous adaptation and the distributional effects of heat","authors":"Yun Qiu, Jinhuan Zhao","doi":"10.2139/ssrn.3421890","DOIUrl":"https://doi.org/10.2139/ssrn.3421890","url":null,"abstract":"We examine the distributional effects of high temperature on labor productivity and the effectiveness of autogenous adaptation when capital investments such as air conditioning are not feasible. Using a longitudinal dataset of professional athletes in competitions during 2010‒2016 in China, we show that heat causes more uneven performance distributions, hurting the bottom performers and females more than top performers and males. More frequent heat reduces average performance and raises distributional inequality more than increases in average temperature, with the difference manifesting most significantly in inequality. Gaining experience and long-term acclimatization together can mitigate 82% of the heat impacts, demonstrating the potential of autogenous adaptation.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114386179","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: 5
Regime-Switching And Levy Jump Dynamics In Option-Adjusted Spreads 期权调整价差中的状态切换和Levy跳跃动力学
EnergyRN: Energy Economics (Topic) Pub Date : 2018-12-28 DOI: 10.2139/ssrn.3307534
Charles Shaw
{"title":"Regime-Switching And Levy Jump Dynamics In Option-Adjusted Spreads","authors":"Charles Shaw","doi":"10.2139/ssrn.3307534","DOIUrl":"https://doi.org/10.2139/ssrn.3307534","url":null,"abstract":"A regime-switching Levy framework, where all parameter values depend on the value of a continuous time Markov chain as per Chevallier and Goutte (2017), is employed to study US Corporate Option-Adjusted Spreads (OASs). For modelling purposes we assume a Normal Inverse Gaussian distribution, allowing heavier tails and skewness. After the Expectation-Maximization algorithm is applied to this general class of regime switching models, we compare the obtained results with time series models without jumps, including one with regime switching and one without. We find that a regime-switching Levy model clearly defines two regimes for A-, AA-, and AAA-rated OASs. We find further evidence of regime-switching effects, with data showing relatively pronounced jump intensity around the time of major crisis periods, thereby confirming the presence and importance of volatility regimes. Results indicate that ignoring the complex and dynamic dependence structure in favour of certain model assumptions may lead to a significant underestimation of risk.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122696182","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: 1
Numerical Investigation of the Best Efficient Tandem Solar Cell Structures Using the Base Cell Models of MZO/CdTe and CdS/CIGS Cell Structures 基于MZO/CdTe和CdS/CIGS电池结构基础模型的最佳高效串联太阳能电池结构数值研究
EnergyRN: Energy Economics (Topic) Pub Date : 2018-12-04 DOI: 10.4038/IJMS.V6I1.88
Dinuka R Ratnasinghe, M. Attygalle
{"title":"Numerical Investigation of the Best Efficient Tandem Solar Cell Structures Using the Base Cell Models of MZO/CdTe and CdS/CIGS Cell Structures","authors":"Dinuka R Ratnasinghe, M. Attygalle","doi":"10.4038/IJMS.V6I1.88","DOIUrl":"https://doi.org/10.4038/IJMS.V6I1.88","url":null,"abstract":"Tandem solar cells have been researched to enhance the performance of the second generation (II-VI) thin-film solar cells. In this study, we have developed an efficient tandem solar cell model by optimizing the thickness of the (II-VI) layers and by introducing Mg doped ZnO as the window material for the top cell. The tandem solar cell model consists of a top cell, n-MZO/p-CdTe and a bottom cell, n-CdS/p-Cu(In, Ga)Se 2 (CIGS). The parameters of the computational model, such as thicknesses of n-CdS, p-CIGS. p-CdTe has been varied to improve the efficiency of the tandem solar cell and compared with the previous researched single junction thin-film solar cells. All the numerical experiments were conducted under one sun illumination condition with AM 1.5 G solar spectrum by using the Analysis of Microelectronic and Photonic Structures simulation software (AMPS-1D) and Solar Cell Capacitance Simulator (SCAPS 1-D) software. The observed open circuit voltage was 1.413 V and the efficiency wa sincreased to 28.84% and this is a huge improvement compared to the reported recorded best research cell values of 0.8 V and 24.2% respectively for single junction solar cell. KEYWORDS : AMPS-1D, SCAPS-1D, Tandem solar cell, II-VI photovoltaics, AM1.5G, Thin-film PV","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125483479","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
Wrestling with Uncertainty in Climate Economic Models 应对气候经济模型的不确定性
EnergyRN: Energy Economics (Topic) Pub Date : 2018-10-15 DOI: 10.2139/ssrn.3008833
W. Brock, L. Hansen
{"title":"Wrestling with Uncertainty in Climate Economic Models","authors":"W. Brock, L. Hansen","doi":"10.2139/ssrn.3008833","DOIUrl":"https://doi.org/10.2139/ssrn.3008833","url":null,"abstract":"This paper uses insights from decision theory under uncertainty to explore research challenges in climate economics. We embrace a broad perspective of uncertainty with three components: risk (probabilities assigned by a given model), ambiguity (level of confidence in alternative models), and misspecification (potential shortfalls in existing models). We survey recent climate science research that exposes the uncertainty in climate dynamics that is pertinent in economic analyses and relevant for using models to provide policy guidance. The uncertainty components and their implications for decision theory help us frame this evidence and expose the modeling and evidential challenges.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"243 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115073870","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: 64
Conditional Convergence in Energy Consumption Per Capita of OPEC Member Countries: Evidence from Non‐Linearity Tests 欧佩克成员国人均能源消费的条件收敛:非线性检验的证据
EnergyRN: Energy Economics (Topic) Pub Date : 2018-08-16 DOI: 10.1111/opec.12132
S. Solarin, H. Lean
{"title":"Conditional Convergence in Energy Consumption Per Capita of OPEC Member Countries: Evidence from Non‐Linearity Tests","authors":"S. Solarin, H. Lean","doi":"10.1111/opec.12132","DOIUrl":"https://doi.org/10.1111/opec.12132","url":null,"abstract":"This paper examines the convergence of energy consumption in Organization of the Petroleum Exporting Countries (OPEC) countries. A new non‐linear unit root test is principally utilized in the convergence analysis. We support the convergence of energy consumption in the OPEC member countries. Convergence of energy consumption is associated with the call for energy conservation policies, in order to improve energy efficiency and reduce global greenhouse emissions.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"51 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126097997","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: 10
The Pricing Implications of the Oligopolistic Securities Lending Market: A Beneficial Owner Perspective 寡头垄断证券借贷市场的定价含义:一个受益所有人的视角
EnergyRN: Energy Economics (Topic) Pub Date : 2018-06-15 DOI: 10.2139/SSRN.3203304
Zsuzsa R. Huszár, Zorka Simon
{"title":"The Pricing Implications of the Oligopolistic Securities Lending Market: A Beneficial Owner Perspective","authors":"Zsuzsa R. Huszár, Zorka Simon","doi":"10.2139/SSRN.3203304","DOIUrl":"https://doi.org/10.2139/SSRN.3203304","url":null,"abstract":"In the last decade, central bank interventions, flights to safety, and the shift in derivatives clearing resulted in exceptionally high demand for high quality liquid assets, such as German treasuries, in the securities lending market besides the traditional repo market activities. Despite the high demand, the realizable securities lending income has remained economically negligible for most beneficial owners. We provide empirical evidence of pricing inefficiencies in the non-transparent, oligopolistic securities lending market for German treasuries from 2006 to 2015. Consistent with Duffie, Gârleanu and Pedersen (2005)'s theory, we find that the less connected market participants' interests are underrepresented, evident in the longer maturity segment, where lenders are more likely to be conservative passive investors, such as pension funds and insurance firms. The low price elasticity in this segment hinders these beneficial owners to fully capitalize on the additional income from securities lending, giving rise to important negative welfare implications.","PeriodicalId":400187,"journal":{"name":"EnergyRN: Energy Economics (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130706913","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: 4
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信