This paper applies the literature on asymmetric price transmission to the emerging commodity market for EU emissions allowances (EUA). We utilize an error correction model and an autoregressive distributed lag model to measure the relationship between CO2 price changes and the development of wholesale electricity prices. Using data from the German market for electricity and EUAs, we find that the rising ...
Der Beitrag skizziert zunächst die gegenwärtigen Herausforderungen an das globale Energiesystem und stellt das vorhandene Wissen zu energieeffizienten Lösungen in allen Sektoren dar. Dabei geht es nicht nur um die Umwandlung von Primär- in Nutzenergie, sondern - wichtiger noch - von Nutzenergie in Energiedienstleistungen (Materialeffizienz und Substitution). Bei der Analyse der Effizienzpotentiale ...
Emerging nations are typically characterised by highenergy intensities despite significant energy efficiency potentials and numerous project oriented efforts to introduce energy-efficient technologies. The paper argues that successful technology dissemination needs appropriate institutional structures to reduce the related transaction cost. While a project-by-project approach risks to evaporate after ...
Due to the size and structure of its economy, Germany is one of the largest carbon emitters in the European Union. However, Germany is facing a major renewal and restructuring process in electricity generation. Within the next two decades, up to 50% of current electricity generation capacity may retire because of end-of-plant lifetime and the nuclear phase-out pact of 1998. Substantial opportunities, ...
In this article, we analyse the effects of emissions trading in Europe, with special reference to Germany. We look at the value of the flexibility gained by trading compared to fixed quotas. The analysis is undertaken with a modified version of the GTAP-E model using the latest GTAP version 6 database. It is based on the national allocation plans (NAP) as submitted to and approved by the EU. We find ...
This paper illustrates the representation of induced technological change in the multi-regional, multi-sectoral integrated assessment model WIAGEM. The main aim of the paper is to investigate quantitatively the economic impacts of climate policy measures due to the induced technological changes that are considered. Improved technological innovations are triggered by increased R&D expenditures that ...
The anthropogenic climate change will persist if the global volume of greenhousegas emissions will not be reduced significantly. A dangerous and irreversibleclimate change will occur if atmospheric concentrations of greenhousegases in the year 2100 exceed 450 ppm and global surface temperatureis 2 °C higher than its preindustrial level. The consequence of exceedingthese limits would be both more frequent ...