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Outlook of Oil Prices and Volatility from 1970 to 2040 Through Global Energy Mix-Security from Production to Reserves: A Nonparametric Causality-in-Quantiles Approach 从生产到储量的全球能源混合安全展望1970 - 2040年的油价和波动性:一种非参数分位数因果关系方法
Pub Date : 2022-12-01 DOI: 10.2139/ssrn.3924949
A. Alola, O. Adekoya, J. Oliyide
In the midst of the global challenge of climate change induced by the consumption of fossil fuels, energy security remains a global concern. Thus, this study examines the role of energy security from the witty perspective of the production and reserves of the world’s leading energy mix (oil, natural gas, and coal) in the dynamics of global crude oil prices and volatility over the period of 1970 to 2040. Having discovered a nonlinear dynamics in the relationship, we employ the nonparametric causality-in-quantiles test which differentiates causality-in-mean from the causality-in-variance. The results show that the causality-in-variance is exceedingly stronger than causality-in-mean for the predictability of oil price. The mean oil price is unpredictable by the production and reserves of the energy sources, except those of crude oil and natural gas at the lower quantiles. Moreover, the production and reserves of all the energy sources are strong predictors of the volatility of oil price for most of the quantiles. This is further confirmed by the causality-in-mean conducted for the actual oil price volatility series. In general, this study weighs in from the perspective of an effective policy instrument associated with the trilemma among crude oil price, energy security, and environmental sustainability.
在化石燃料消费导致气候变化的全球挑战中,能源安全仍然是全球关注的问题。因此,本研究从世界主要能源组合(石油、天然气和煤炭)的生产和储量的诙谐角度考察了能源安全在1970年至2040年期间全球原油价格和波动动态中的作用。在发现了关系中的非线性动力学之后,我们采用了非参数分位数因果检验,该检验区分了均值因果和方差因果。结果表明,对于石油价格的可预测性,方差因果关系比均值因果关系强得多。除了原油和天然气在较低的分位数外,平均油价是由能源的产量和储量所无法预测的。此外,在大多数分位数中,所有能源的产量和储量都是油价波动的有力预测指标。对实际油价波动序列进行的均值因果关系进一步证实了这一点。总的来说,本研究从一个有效的政策工具的角度来权衡原油价格、能源安全和环境可持续性的三难困境。
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引用次数: 8
Quantifying the Impact of Economic Sanctions on International Trade in the Energy and Mining Sectors 量化经济制裁对能源和矿业部门国际贸易的影响
Pub Date : 2022-03-09 DOI: 10.2139/ssrn.3784389
Mario Larch, Serge Shikher, Constantinos Syropoulos, Y. Yotov
Capitalizing on the latest developments in the gravity literature, we utilize two new datasets on sanctions and trade to study the impact of economic sanctions on international trade in the mining sector, which includes oil and natural gas. We demonstrate that the gravity equation is well suited to model bilateral trade in mining and find that sanctions have been effective in impeding mining trade. Our analysis reveals that complete trade sanctions have reduced bilateral mining trade by about 44 percent on average. We also document the presence of significant heterogeneity in the effects of sanctions on mining trade across mining industries and across sanction episodes/cases, depending on the sanctioning and sanctioned countries, the type of sanctions used, and the direction of trade flows. We take a close look at the impact of recent sanctions on Iran and Russia.
利用重力文献的最新进展,我们利用两个关于制裁和贸易的新数据集来研究经济制裁对矿业部门(包括石油和天然气)国际贸易的影响。我们证明重力方程非常适合模拟双边矿业贸易,并发现制裁在阻碍矿业贸易方面是有效的。我们的分析显示,全面的贸易制裁使双边矿业贸易平均减少了约44%。我们还记录了制裁对采矿贸易的影响在采矿业和制裁事件/案例中存在显著的异质性,这取决于制裁和被制裁国家、所使用的制裁类型和贸易流动方向。我们密切关注最近对伊朗和俄罗斯的制裁的影响。
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引用次数: 15
Climate Impacts on Natural Capital: Consequences for the Social Cost of Carbon 气候对自然资本的影响:碳社会成本的后果
Pub Date : 2021-10-15 DOI: 10.2139/ssrn.3945184
B. Bastien-Olvera, F. Moore
The effects of climate change on natural systems will be substantial, widespread, and likely irreversible. Warmer temperatures and changing precipitation patterns have already contributed to forest dieback and pushed some species toward extinction. Natural systems contribute to human welfare both as an input to the production of consumption goods and through the provision of nonuse values (i.e., existence and bequest values). But because they are often unpriced, it can be difficult to constrain these benefits. Understanding how climate change effects on the natural capital stock affect human well-being, and therefore the social cost of carbon (SCC), requires understanding not just the biophysical effects of climate change but also the particular role they play in supporting human welfare. This article reviews a range of topics from natural capital accounting through climate change economics important for quantifying the ecological costs of climate change and integrating these costs into SCC calculations. Expected final online publication date for the Annual Review of Resource Economics, Volume 14 is October 2022. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
气候变化对自然系统的影响将是巨大的、广泛的,而且可能是不可逆转的。气温升高和降水模式的变化已经导致森林枯死,并将一些物种推向灭绝。自然系统对人类福利的贡献既可以作为消费品生产的投入,也可以通过提供非使用价值(即存在价值和遗赠价值)。但由于它们通常无法定价,因此很难限制这些好处。了解气候变化对自然资本存量的影响如何影响人类福祉,从而影响碳的社会成本(SCC),不仅需要了解气候变化的生物物理效应,还需要了解它们在支持人类福祉方面发挥的特殊作用。本文回顾了从自然资本核算到气候变化经济学的一系列主题,这些主题对于量化气候变化的生态成本并将这些成本整合到SCC计算中至关重要。《资源经济学年度评论》第14卷的最终在线出版日期预计为2022年10月。修订后的估计数请参阅http://www.annualreviews.org/page/journal/pubdates。
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引用次数: 0
Selfish incentives for climate policy: Empower the young! 气候政策的自私动机:赋予年轻人权力!
Pub Date : 2021-09-30 DOI: 10.2139/ssrn.3933987
L. Karp, Alessandro Peri, Armon Rezai
Currently living agents might have selfish reasons to undertake climate policy, because young agents benefit in the future from an improved climate, and policy affects the asset price. Previous models downplayed the first factor and assumed away the second. Self-interested incentives induce meaningful climate policy over a period of several generations, if the young have substantial policy-making influence. Policy is largely driven by the young generation’s concern about its future consumption, not from endogenous asset prices. For small climate policy, the old and young generations’ incentives are aligned if and only if the elasticity of intertemporal substitution exceeds 1.
目前活着的代理人可能出于自私的原因而采取气候政策,因为年轻的代理人在未来会受益于气候的改善,而政策会影响资产价格。以前的模型淡化了第一个因素,并假设了第二个因素。如果年轻人在政策制定上有重大影响,那么自利激励会在几代人的时间里催生有意义的气候政策。政策在很大程度上是由年轻一代对未来消费的担忧驱动的,而不是由内生资产价格驱动的。对于小型气候政策,当且仅当跨期替代弹性超过1时,老一代和年轻一代的激励是一致的。
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引用次数: 2
How Algorithm Assisted Decision Making Is Influencing Environmental Law and Climate Adaptation 算法辅助决策如何影响环境法和气候适应
Pub Date : 2021-08-03 DOI: 10.2139/ssrn.3898812
Sonya Ziaja
Algorithm-based decision tools in environmental law appear policy neutral but embody bias and hidden values that affect equity and democracy. In effect, algorithm-based tools are new fora for law and policymaking, distinct from legislatures and courts. In turn, these tools influence the development and implementation of environmental law and regulation. As a practical matter, there is a pressing need to understand how these automated decision-making tools interact with and influence law and policy. This Article begins this timely and critical discussion. Though algorithmic decision-making has been critiqued in other domains, like policing and housing policy, environmental and energy policy may be more dependent on algorithmic tools because of climate change. Expectations of climatic stationarity—for example how frequently or severely a coastal area floods or how many days of extreme heat an energy system needs to anticipate—are no longer valid. Algorithm-based tools are needed to make sense of possible future scenarios in an unstable climate. However, dependence on these tools brings with it a conflict between technocracy (and the need to rapidly adapt and respond to climate change) and democratic participation, which is fundamental to equity. This Article discusses sources of that tension within environmental, algorithm-based tools and offers a pathway forward to integrate values of equity and democratic participation into these tools. After introducing the problem of water and energy adaptation to climate change, this Article synthesizes prior multidisciplinary work on algorithmic decision making and modeling-informed governance—bringing together the works of early climate scientists and contemporary leaders in algorithmic decision making. From this synthesis, this Article presents a framework for analyzing how well these tools integrate principles of equity, including procedural and substantive fairness—both of which are essential to democracy. The framework evaluates how the tools handle uncertainty, transparency, and stakeholder collaboration across two attributes. The first attribute has to do with the model itself—specifically, how, and whether, existing law and policy are incorporated into these tools. These social parameters can be incorporated as inputs to the model or in the structure of the model, which determines its logic. The second attribute has to do with the modeling process—how, and whether, stakeholders and end-users collaborated in the model’s development. This Article then applies this framework and compares two algorithm-assisted, decision-making tools currently in use for adapting water and energy systems to climate change. The first tool is called “INFORM.” It is used to allocate water quantity and flow on the Sacramento River, while taking climate and weather into account. The second tool is called “RESOLVE.” It is used by energy utility regulators in California to evaluate scenarios for energy generation. Although the d
基于算法的环境法决策工具表面上是政策中立的,但暗含着影响公平和民主的偏见和隐藏价值。实际上,基于算法的工具是法律和政策制定的新论坛,与立法机构和法院不同。反过来,这些工具又影响环境法律法规的制定和实施。作为一个实际问题,迫切需要了解这些自动化决策工具如何与法律和政策相互作用并对其产生影响。本文开始了这一及时而关键的讨论。尽管算法决策在警务和住房政策等其他领域受到批评,但由于气候变化,环境和能源政策可能更依赖于算法工具。对气候稳定性的预期——例如沿海地区洪水的频率或严重程度,或者能源系统需要预测的极端高温天数——不再有效。需要基于算法的工具来理解不稳定气候下可能出现的未来情景。然而,对这些工具的依赖带来了技术官僚(以及迅速适应和应对气候变化的需要)与民主参与之间的冲突,民主参与是公平的基础。本文讨论了环境、基于算法的工具中这种紧张关系的来源,并提供了一条将公平和民主参与的价值观整合到这些工具中的前进道路。在介绍了水和能源适应气候变化的问题之后,本文综合了之前在算法决策和建模方面的多学科工作——知情治理——汇集了早期气候科学家和当代算法决策领域领导者的工作。从这一综合出发,本文提出了一个框架,用于分析这些工具如何很好地整合了公平原则,包括程序公平和实质公平——这两者对民主都至关重要。该框架评估工具如何处理跨两个属性的不确定性、透明度和涉众协作。第一个属性与模型本身有关——具体地说,如何以及是否将现有的法律和政策合并到这些工具中。这些社会参数可以作为模型的输入或模型结构的输入,这决定了模型的逻辑。第二个属性与建模过程有关——涉众和最终用户如何以及是否在模型开发中协作。本文随后应用了这一框架,并比较了目前用于使水和能源系统适应气候变化的两种算法辅助决策工具。第一个工具叫做“INFORM”。它用于分配萨克拉门托河的水量和流量,同时考虑到气候和天气。第二个工具叫做“RESOLVE”。它被加州的能源公用事业监管机构用来评估能源生产的方案。尽管这两种工具的开发都涉及到协作过程,但在它们的开发和使用历史中存在有意义的区别。比较表明,法律和政策如何被纳入模型的基础代码影响气候适应的发展和调节,而模型开发过程中的包容性和协作影响模型的感知有用性和采用。这两个结论对环境、自然资源和能源规划的公平性和可及性都有影响。
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引用次数: 0
Climate Change Cosmopolitanism 气候变化世界主义
Pub Date : 2021-07-16 DOI: 10.2139/ssrn.3886696
C. Sunstein
If one nation damages another, what are its obligations? This question can be approached and understood in diverse ways, but it is concretized in debates over the social cost of carbon, which is sometimes described as the linchpin of national climate policy. The social cost of carbon, meant to capture the damage done by a ton of carbon emissions, helps to determine the stringency of regulations in many domains, including emissions limits on motor vehicles and on stationary sources. In determining the social cost of carbon, agencies must decide whether to use the global number (as chosen by Presidents Barack Obama and Joe Biden) or instead the domestic number (as chosen by President Donald Trump). Use of the global number should be seen as a form of climate change cosmopolitanism, whether the grounding is moral or otherwise. There are four central arguments in favor of using the global figure. (1) The epistemic argument: Experts do not know a great deal about the purely domestic harms from climate change, which makes it impossible to generate a purely domestic number. (2) The interconnectedness argument: Harms done by domestic emissions are not limited to those done by the incremental increase in temperatures in the United States; they include harms to U.S. citizens living abroad and harms to U.S. citizens and interests that come from the cascading effects of harm done to foreigners (including governments, companies, and individuals), which are ultimately felt in the United States. (3) The moral cosmopolitan argument: In deciding on the scope of its regulations, the United States should account of the harms it does to non-Americans. (4) The prisoner’s dilemma argument: If all nations used a domestic figure, all nations would lose; a successful approach to the climate problem requires nations to treat greenhouse gas emissions as a global, and not merely domestic, externality. Neither the epistemic argument nor the incompleteness argument justifies choice of the global number. The moral cosmopolitan and prisoner’s dilemma arguments stand on much stronger grounds.
如果一个国家损害了另一个国家,它的义务是什么?这个问题可以用不同的方式来处理和理解,但它在关于碳的社会成本的辩论中具体化,这有时被描述为国家气候政策的关键。碳的社会成本,即捕捉一吨碳排放所造成的损害,有助于确定许多领域法规的严格程度,包括对机动车辆和固定来源的排放限制。在确定碳排放的社会成本时,各机构必须决定是使用全球数字(由巴拉克•奥巴马(Barack Obama)总统和乔•拜登(Joe Biden)总统选择),还是使用国内数字(由唐纳德•特朗普(Donald Trump)总统选择)。使用全球数字应被视为气候变化世界主义的一种形式,无论其基础是道德的还是其他方面的。支持使用全球数字的主要论据有四个。(1)认识论的论点:专家们对气候变化造成的纯粹国内危害知之甚少,因此不可能得出一个纯粹国内的数字。(2)相互关联论:国内排放造成的危害不仅限于美国气温的逐渐升高;它们包括对居住在国外的美国公民的伤害,以及对外国人(包括政府、公司和个人)的伤害所产生的连锁效应对美国公民和利益的伤害,这些伤害最终会在美国感受到。(3)道德世界主义观点:在决定其监管范围时,美国应该考虑到它对非美国人造成的伤害。(4)囚徒困境论证:如果所有国家都使用一个国内数字,所有国家都会输;要想成功解决气候问题,各国必须将温室气体排放视为全球性的外部影响,而不仅仅是国内的外部影响。无论是认识论论证还是不完备性论证都不能证明选择全局数是正确的。道德世界主义和囚徒困境的论点有更充分的理由。
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引用次数: 2
Comparison Between the IPCC Reporting Framework and Country Practice IPCC报告框架与国家实践的比较
Pub Date : 2021-07-01 DOI: 10.2139/ssrn.3900798
Sam Chen, Martin Dietrich Brauch
This study examines national GHG inventories prepared by Australia, China, Germany, Japan, and the United States, and highlights how the inventories of different countries—though following the Intergovernmental Panel on Climate Change (IPCC) Guidelines for National Greenhouse Gas Inventories—reflect different choices of GHG accounting methodologies and approaches, emission factors, and categories and gases reported. These choices, allowed under the IPCC Guidelines, result in significant differences in reported GHG emissions, reinforcing the case for adopting a harmonized GHG accounting framework.
本研究考察了澳大利亚、中国、德国、日本和美国编制的国家温室气体清单,并强调了不同国家的清单——尽管遵循政府间气候变化专门委员会(IPCC)《国家温室气体清单指南》——如何反映了温室气体核算方法和方法、排放因子以及报告的类别和气体的不同选择。IPCC指南允许的这些选择导致报告的温室气体排放量存在显著差异,从而加强了采用统一温室气体核算框架的必要性。
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引用次数: 1
CBAM for the EU: A Policy Proposal 欧盟的CBAM:一项政策建议
Pub Date : 2021-04-07 DOI: 10.2139/ssrn.3838167
A. Cosbey, M. Mehling, A. Marcu
An important element of the comprehensive suite of climate and environmental policies advanced under the “European Green Deal” (EGD) is the “Carbon Border Adjustment Mechanism” (CBAM). CBAM is a policy safeguard against emissions leakage, that is, the relocation of emitting activities from the European Union (EU) to third countries due to the impact of EU climate policy ambition on production and investment decisions. A legislative proposal setting out the parameters of the CBAM is expected from the European Commission by the end of June 2021 as part of the “Fit for 55” package of initiatives operationalizing the strengthened climate target under the EGD.

As of now, the design parameters of a future EU CBAM are still uncertain. What the process so far – including a formal consultation process carried out by the European Commission – has unmistakably shown, however, are considerable divergences in the views of key EU stakeholders about the preferred CBAM design, and, in some cases, what they consider to be red lines.

This report proposes a CBAM design that seeks to balance trade-offs so as to secure its environmental and competitiveness benefits while maximizing its administrative, legal and technical viability, as well as political acceptability. An elegant technical proposal that ignores political feasibility is not one that should be taken seriously.

Beyond the mere design, this proposal also addresses important procedural aspects and the timeline of implementation, which are critical for legal and political acceptability.
“欧洲绿色协议”(EGD)提出的一整套气候和环境政策的一个重要组成部分是“碳边界调整机制”(CBAM)。CBAM是防止排放泄漏的政策保障,即由于欧盟气候政策雄心对生产和投资决策的影响,将排放活动从欧盟(EU)转移到第三国。欧盟委员会预计将在2021年6月底之前提出一项立法提案,规定CBAM的参数,作为“适合55年”一揽子举措的一部分,以实施EGD下加强的气候目标。到目前为止,未来欧盟CBAM的设计参数仍然不确定。然而,迄今为止的进程(包括欧盟委员会进行的正式磋商过程)清楚地表明,欧盟主要利益相关者对首选CBAM设计的看法存在相当大的分歧,在某些情况下,他们认为这是红线。本报告提出了一种CBAM设计,旨在平衡权衡,以确保其环境和竞争力效益,同时最大限度地提高其行政、法律和技术可行性,以及政治上的可接受性。一个忽视政治可行性的优雅的技术建议不应该被认真对待。除了单纯的设计之外,这项建议还涉及重要的程序方面和执行时间表,这对法律和政治上的可接受性至关重要。
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引用次数: 2
Climate Change in the Arctic and Future Directions for Adaptation: Views From Non-Arctic States 北极的气候变化和未来的适应方向:来自非北极国家的观点
Pub Date : 2021-03-04 DOI: 10.2139/ssrn.3802303
A. Timonin
This work studies the overpopulation issue and its effects on the country’s economy in Central Asia. Through the work, you will get some new up-to-date information about the situation with overpopulation and identify current problems. Research-based on primary research, in which citizens of Central Asia participated in interviews and survey.
本文研究中亚地区人口过剩问题及其对国家经济的影响。通过这项工作,你会得到一些关于人口过剩情况的最新信息,并找出当前的问题。研究基于初步研究,中亚公民参与访谈和调查。
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引用次数: 0
Spatial Dependence in the Relationship between Climate Change and Internal Migration: Evidence from the United States 气候变化与内部移民关系的空间依赖性:来自美国的证据
Pub Date : 2021-02-28 DOI: 10.2139/ssrn.3906643
M. Braun
Understanding and accurately estimating the effects of climate change on migration patterns may be an important concern for future climate change adaptation and mitigation efforts. In this context, issues of spatial dependence are likely relevant but have largely been neglected by previous literature. Drawing on empirical methods developed in the spatial econometrics literature, the current paper attempts to shed some light on the role of spatial dependence in the climate-migration relationship using data for the United States for the years 2005 to 2019. I find modest evidence of spatial spillover effects of temperature and precipitation on state-level migration rates. In particular, I show that not accounting for potential spatial spillover effects leads to an overestimation of the effects of precipitation on migration rates.
了解和准确估计气候变化对移徙模式的影响可能是今后适应和减缓气候变化努力的一个重要关切。在这种情况下,空间依赖问题可能是相关的,但在很大程度上被以前的文献所忽视。本文利用空间计量经济学文献中发展起来的经验方法,利用2005 - 2019年美国的数据,试图揭示空间依赖在气候迁移关系中的作用。我发现了温度和降水对州一级迁移率的空间溢出效应的适度证据。我特别指出,不考虑潜在的空间溢出效应会导致高估降水对迁移率的影响。
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引用次数: 0
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Climate Action eJournal
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