Showing papers in "Energy Economics in 2008"

TL;DR: This paper found that an increase in real oil price is associated with a significant increase in the short-term interest rate in the U.S. and eight out of 13 European countries within one or two months.

TL;DR: This article examined the relationship between capital formation, energy consumption and real GDP in a panel of G7 countries using panel unit root, panel cointegration, Granger causality and long-run structural estimation.

TL;DR: In this article, the authors examined whether and to what extent the adverse effect of oil price shocks impacts stock market returns and recommended that international portfolio investors consider hedging oil price risk.

TL;DR: In this study, an empirical mode decomposition (EMD) based neural network ensemble learning paradigm is proposed for world crude oil spot price forecasting and empirical results obtained demonstrate attractiveness of the proposed EMD-based neural networksemble learning paradigm.

TL;DR: In this article, a four variable vector autoregression model is developed and estimated in order to investigate the empirical relationship between alternative energy stock prices, technology stock prices and oil prices, and interest rates.

TL;DR: In this article, the authors used logarithmic mean divisia index (LMDI) techniques to decompose changes in energy intensity in the period 1980-2003.

TL;DR: In this paper, the authors test for the existence and direction of causality between output growth and energy use in China at both aggregated total energy and disaggregated levels as coal, oil and electricity consumption.

TL;DR: The pure measures under different situations and a mixed measure under the VRS environmental DEA technology for measuring environmental performance are proposed and the measures that deal with nonlinear programming models are given.

TL;DR: In this paper, a structural cointegrated VAR model has been considered for the G-7 countries in order to study the direct effects of oil price shocks on output and prices, and the reaction of monetary variables to external shocks.

TL;DR: In this article, both linear and nonlinear Granger causality tests are applied to examine the causal relationship between energy consumption and economic growth for a sample of Asian newly industrialized countries as well as the U.S.

TL;DR: In this article, an approach based on asymmetric cointegration is proposed to account for asymmetries existing in the links between the two variables, and empirical analysis concerns the U.S. economy, but also the G7, Europe and Euro area economies.

TL;DR: The EEMD is shown to be a vital technique for crude oil price analysis and a substantial improvement of EMD which can better separate the scales naturally by adding white noise series to the original time series and then treating the ensemble averages as the true intrinsic modes.

TL;DR: In this article, the authors used a choice experiment to evaluate the consumers' willingness to pay for energy-saving measures in Switzerland's residential buildings, such as air renewal (ventilation) systems and insulation of windows and facades.

TL;DR: Agent-Based Computational Economics (ACE) is a fairly young research paradigm that offers methods for realistic electricity market modeling as discussed by the authors, and a growing number of researchers have developed agent-based models for simulating electricity markets.

TL;DR: In this paper, the authors re-examine the relationship between disaggregate energy consumption and industrial output, as well as employment, in the United States using the autoregressive distributed lag (ARDL) approach.

TL;DR: In this paper, the authors examined the causal relationship between energy consumption and economic growth for eleven countries in sub-Saharan Africa and found that energy consumption is cointegrated with economic growth in Cameroon, Cote D'Ivoire, Gambia, Ghana, Senegal, Sudan and Zimbabwe.

TL;DR: The authors investigated the linear and nonlinear causal linkages between daily spot and futures prices for maturities of one, two, three and four months of West Texas Intermediate (WTI) crude oil.

TL;DR: In this article, a meta-analytical approach based on a Seemingly Unrelated Regression (SUR) model with cross-equation restrictions was proposed to estimate the price elasticity of gasoline demand.

TL;DR: In this article, the impact of the European Emission Trading Scheme (ETS) on the two dimensions of competitiveness - production and profitability - for the iron and steel industry is quantified and the robustness of these results to various assumptions: marginal abatement cost curve, trade and demand elasticities, as well as pass-through rates and updating of allocation rules are scarcely debated.

TL;DR: In this article, the authors formulate market equilibrium as a mixed complementarity problem which explicitly represents weak inequalities and complementarity between decision variables and equilibrium conditions, and demonstrate how to integrate bottom-up activity analysis into a top-down representation of the broader economy.

TL;DR: In this paper, the impact of fuel, electricity, and CO2 price risks and their degree of correlation on optimal plant portfolios was studied in a mean-variance portfolio optimization for large electricity generators in liberalized electricity markets.

TL;DR: In this article, the authors examined the volatility behavior of three strategic commodities: gold, silver and copper, in the presence of crude oil and interest rate shocks, and found that gold and silver have almost the same volatility persistence which is greater than that of copper.

TL;DR: In this article, the authors apply a recent advance in panel analysis to estimate the panel cointegration and panel vector error correction models for a set of 22 OECD countries using annual data covering the period 1960-2001.

TL;DR: The approach used to model technological change in a climate policy model is a critical determinant of its results in terms of the time path of CO 2 prices and costs required to achieve various emission reduction goals as discussed by the authors.

TL;DR: In this paper, a policy planning model that integrates learning curve information on renewable power generation technologies into a dynamic programming formulation featuring real options analysis is presented, which recursively evaluates a set of investment alternatives on a year-by-year basis, thereby taking into account that the flexibility to delay an irreversible investment expenditure can profoundly affect the diffusion prospects of renewable energy generation technologies.

TL;DR: In this article, the authors assess the empirical relevance of various barriers to the diffusion of energy-efficient measures, conduct econometric analyses for 19 sub-sectors in the German commercial and services sectors, and find that the most important barriers are the investor/user dilemma and lack of information about energy consumption patterns.

TL;DR: A production-theoretical approach to decomposing the change of aggregate CO2 emissions over time using the Shephard input distance functions and the environmental data envelopment analysis (DEA) technology in production theory is presented.

TL;DR: In this article, a meta-analysis of capital-energy substitution elasticities is presented, where the authors distinguish between Morishima elasticities, which measure technological substitution potential, and cross-price elasticities which measure actual percentage changes in capital demand in response to energy price changes.

TL;DR: In this paper, the effects of government climate policy uncertainty on private investors' decision-making in the power sector are analysed using a real options approach. But the authors focus on the effects on the investment decisions of the private investors.

TL;DR: In this article, the authors compare eight production/cost functions used or potentially useful for exploring how energy efficiency gains affect energy consumption, and suggest practitioners restrict themselves to either the Gallant (Fourier) or the Generalized Leontief/Symmetric Generalized Barnett cost functions as being sufficiently "rebound flexible".