To date, slowdown trends in the global 𝐶𝑂2 emissions registered in 2012 to 2015 argue due to the transformation from an industrial based on a less-energy intensive services oriented. Nevertheless, inconsistent and insufficient evidence of the role of sectoral composition in influencing the carbon emissions is a serious academic and policy gaps that were overlooked. Thus, due the fact that Asian countries experiences a dramatic shift in phases of economic structure, this study aim to investigate whether the de-industrialization and tertiarization process might be the solution to the carbon emissions in Asian countries. As the structural heterogeneity exists widely across countries in Asian countries, this paper employs Stochastic Impact by Regression on Population, Affluence, Technology (STRIPAT) model as its analytical framework and estimate using the Dynamic Common Correlated Effects (DCCE) estimator to address the heterogeneity, cross-section dependence, and dynamic nature of carbon emissions. In sum, this study found that the de-industrialization moderating the 𝐶𝑂2 emissions in Asian countries, while the expansion of service sector bound to reduce the 𝐶𝑂2 emissions as presented in quadratic functional. Nevertheless, an N-shape relationship observe in cubic functional, thus there is no guarantee that long-term levels of pollution emissions will continue to fall as countries shifting to services-based economy. The finding of this study is important not only in term a value-added of current knowledge, but also in assisting the development of strategic planning and better sustainable policy to combat the growth of 𝐶𝑂2 emissions.
{"title":"Does the De-Industrialization and Tertiarization Process De-Carbonize Emissions in Asian Countries?","authors":"Jain Yassin, S. Aralas","doi":"10.2139/ssrn.3398334","DOIUrl":"https://doi.org/10.2139/ssrn.3398334","url":null,"abstract":"To date, slowdown trends in the global 𝐶𝑂2 emissions registered in 2012 to 2015 argue due to the transformation from an industrial based on a less-energy intensive services oriented. Nevertheless, inconsistent and insufficient evidence of the role of sectoral composition in influencing the carbon emissions is a serious academic and policy gaps that were overlooked. Thus, due the fact that Asian countries experiences a dramatic shift in phases of economic structure, this study aim to investigate whether the de-industrialization and tertiarization process might be the solution to the carbon emissions in Asian countries. As the structural heterogeneity exists widely across countries in Asian countries, this paper employs Stochastic Impact by Regression on Population, Affluence, Technology (STRIPAT) model as its analytical framework and estimate using the Dynamic Common Correlated Effects (DCCE) estimator to address the heterogeneity, cross-section dependence, and dynamic nature of carbon emissions. In sum, this study found that the de-industrialization moderating the 𝐶𝑂2 emissions in Asian countries, while the expansion of service sector bound to reduce the 𝐶𝑂2 emissions as presented in quadratic functional. Nevertheless, an N-shape relationship observe in cubic functional, thus there is no guarantee that long-term levels of pollution emissions will continue to fall as countries shifting to services-based economy. The finding of this study is important not only in term a value-added of current knowledge, but also in assisting the development of strategic planning and better sustainable policy to combat the growth of 𝐶𝑂2 emissions.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125399949","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}
This paper presents non-take-up rates of benefits from the German Income Support for Job Seekers scheme, called Unemployment Benefit II (Arbeitslosengeld II ). Eligibility to these benefits is simulated by applying a microsimulation model based on data from the Socio-economic Panel for the years 2005 to 2014. To ensure the quality of the results, feasible upper and lower bounds of nontake-up are shown for different simulation assumptions. By employing a binary choice framework, determinants of the decision (not) to take-up benefits are studied by means of a cross-sectional probit regression and a fixed effects linear probability model. The findings of this study indicate that rates of non-take-up are substantial and time-stable in the decade after the Hartz IV reform of 2005. On average, the share of households that do not claim benefits despite being eligible, amounts to 55.7 percent of all eligible households in that period. The issue of non-take-up has further important implications for the determination of the standard benefit rate. Since the legally defined calculation procedure does not account for non-take-up households in the reference group, the approximated consumption expenditure that is considered as necessary for a dignified life is calculated too low. The results of this study suggest that the legally defined monthly adult lump sum amount in the year 2014 would have been twelve euros higher if the issue of non-take-up was accounted for in the methodology. Based on the findings, the paper aims to give policy recommendations.
{"title":"Non-Take-Up of Means-Tested Social Benefits in Germany","authors":"Michelle Harnisch","doi":"10.2139/ssrn.3352378","DOIUrl":"https://doi.org/10.2139/ssrn.3352378","url":null,"abstract":"This paper presents non-take-up rates of benefits from the German Income Support for Job Seekers scheme, called Unemployment Benefit II (Arbeitslosengeld II ). Eligibility to these benefits is simulated by applying a microsimulation model based on data from the Socio-economic Panel for the years 2005 to 2014. To ensure the quality of the results, feasible upper and lower bounds of nontake-up are shown for different simulation assumptions. By employing a binary choice framework, determinants of the decision (not) to take-up benefits are studied by means of a cross-sectional probit regression and a fixed effects linear probability model. The findings of this study indicate that rates of non-take-up are substantial and time-stable in the decade after the Hartz IV reform of 2005. On average, the share of households that do not claim benefits despite being eligible, amounts to 55.7 percent of all eligible households in that period. The issue of non-take-up has further important implications for the determination of the standard benefit rate. Since the legally defined calculation procedure does not account for non-take-up households in the reference group, the approximated consumption expenditure that is considered as necessary for a dignified life is calculated too low. The results of this study suggest that the legally defined monthly adult lump sum amount in the year 2014 would have been twelve euros higher if the issue of non-take-up was accounted for in the methodology. Based on the findings, the paper aims to give policy recommendations.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"144 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115185604","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}
This article aims to present the main issues about China's economic growth and the internationalization of its currency - the Renminbi (RMB), as well as the financial and economic instruments used by China for this purpose not only around the world but also in the countries of South America. Finally, it assesses Brazil's foreign policy concerning China's economic and monetary expansion strategy, concluding that Brazil and South America, in general, do not have any economic and political strategy to deal with the Chinese monetary expansion.
{"title":"The Financial Power of China and the Internationalization of its Currency","authors":"Alexandre Coelho","doi":"10.2139/ssrn.3430883","DOIUrl":"https://doi.org/10.2139/ssrn.3430883","url":null,"abstract":"This article aims to present the main issues about China's economic growth and the internationalization of its currency - the Renminbi (RMB), as well as the financial and economic instruments used by China for this purpose not only around the world but also in the countries of South America. Finally, it assesses Brazil's foreign policy concerning China's economic and monetary expansion strategy, concluding that Brazil and South America, in general, do not have any economic and political strategy to deal with the Chinese monetary expansion.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129448201","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}
This paper derives a long-term dynamic growth model that endogenously links biophysical and economic variables in a stock-flow consistent manner. The two industrial sector model enables exploration of interdependencies among resource extraction rate, the accumulation of population, capital, and debt, and the distribution of money flows within the economy. Using a post-Keynesian economic framework, we find that wage share declines after the model reaches its peak per capita resource extraction rate, with the level of investment and markup on costs determining the rate of decline. We show that this pattern is consistent with data for the United States. Further, the distribution of intermediate transactions within the model follows the same temporal pattern as in the post- World War II U.S. economy indicating that this framework enables realistic investigation of trade-offs between economic distribution, size, and resources consumption. It serves as a platform upon which to add features to explore long-term sustainability questions such as a transition to low-carbon energy.
{"title":"An Integrated Biophysical and Economic Modeling Framework for Long-Term Sustainability Analysis","authors":"C. King","doi":"10.2139/ssrn.3334615","DOIUrl":"https://doi.org/10.2139/ssrn.3334615","url":null,"abstract":"This paper derives a long-term dynamic growth model that endogenously links biophysical and economic variables in a stock-flow consistent manner. The two industrial sector model enables exploration of interdependencies among resource extraction rate, the accumulation of population, capital, and debt, and the distribution of money flows within the economy. Using a post-Keynesian economic framework, we find that wage share declines after the model reaches its peak per capita resource extraction rate, with the level of investment and markup on costs determining the rate of decline. We show that this pattern is consistent with data for the United States. Further, the distribution of intermediate transactions within the model follows the same temporal pattern as in the post- World War II U.S. economy indicating that this framework enables realistic investigation of trade-offs between economic distribution, size, and resources consumption. It serves as a platform upon which to add features to explore long-term sustainability questions such as a transition to low-carbon energy.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125015799","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}
M. Donadelli, Marcus Jüppner, A. Paradiso, Christian Schlag
We produce novel empirical evidence on the relevance of temperature volatility shocks for the dynamics of macro aggregates and asset prices. Using two centuries of UK temperature data, we document that the relationship between temperature volatility and the macroeconomy varies over time. First, the sign of the causality from temperature volatility to TFP growth is negative in the post-war period (i.e., 1950-2015) and positive before (i.e., 1800-1950). Second, over the pre-1950 (post-1950) period temperature volatility shocks positively (negatively) affect TFP growth. In the post-1950 period, temperature volatility shocks are also found to undermine equity valuations and other main macro aggregates. More importantly, temperature volatility shocks are priced in the cross section of returns and command a positive premium. We rationalize these findings within a production economy featuring long-run productivity and temperature volatility risk. In the model temperature volatility shocks generate non-negligible welfare costs. Such costs decrease (increase) when associated with immediate technology adaptation (capital depreciation).
{"title":"Temperature Volatility Risk","authors":"M. Donadelli, Marcus Jüppner, A. Paradiso, Christian Schlag","doi":"10.2139/ssrn.3333915","DOIUrl":"https://doi.org/10.2139/ssrn.3333915","url":null,"abstract":"We produce novel empirical evidence on the relevance of temperature volatility shocks for the dynamics of macro aggregates and asset prices. Using two centuries of UK temperature data, we document that the relationship between temperature volatility and the macroeconomy varies over time. First, the sign of the causality from temperature volatility to TFP growth is negative in the post-war period (i.e., 1950-2015) and positive before (i.e., 1800-1950). Second, over the pre-1950 (post-1950) period temperature volatility shocks positively (negatively) affect TFP growth. In the post-1950 period, temperature volatility shocks are also found to undermine equity valuations and other main macro aggregates. More importantly, temperature volatility shocks are priced in the cross section of returns and command a positive premium. We rationalize these findings within a production economy featuring long-run productivity and temperature volatility risk. In the model temperature volatility shocks generate non-negligible welfare costs. Such costs decrease (increase) when associated with immediate technology adaptation (capital depreciation).","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123112581","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}
This discussion paper considers the role that blockchain-based technologies can play in advancing initiatives pertaining to environmental sustainability, using the case study of IBM’s water management blockchain development in California. The paper finds that there is substantial room for incorporating blockchain technology into environmental protection and sustainability projects, including in the mitigation of information asymmetry through transparency so as to foster stronger market-mechanisms in the allocation of resources.
{"title":"Blockchain and Environmental Sustainability: Case of IBM's Blockchain Water Management","authors":"Usman W. Chohan","doi":"10.2139/ssrn.3334154","DOIUrl":"https://doi.org/10.2139/ssrn.3334154","url":null,"abstract":"This discussion paper considers the role that blockchain-based technologies can play in advancing initiatives pertaining to environmental sustainability, using the case study of IBM’s water management blockchain development in California. The paper finds that there is substantial room for incorporating blockchain technology into environmental protection and sustainability projects, including in the mitigation of information asymmetry through transparency so as to foster stronger market-mechanisms in the allocation of resources.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121952082","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}
The performance of two ongoing regulatory frameworks for hydropower remuneration in Brazil is analysed. The former is the status quo design, where the individual operational risks are mitigated by a risk-sharing principle within a hydro pool structure. The latter is an insurance approach, where a security framework enables the hydro generators to transfer their risks to the consumers. Three different long-term scenario settings are assessed by using stochastic optimisation techniques. The results suggest that the level of risk in the status quo design strongly relies on the generation mix evolution, notably thermal, rather than wind or solar generation. The current insurance approach is likely to drive a transfer of wealth from consumers to generators. This condition can be overcome by adapting the insurance premium setting criteria.
{"title":"Assessment of the Current Regulatory Framework for Hydropower Remuneration in Brazil","authors":"Bruno Goulart F. Machado, Pradyumna C. Bhagwat","doi":"10.2139/ssrn.3330576","DOIUrl":"https://doi.org/10.2139/ssrn.3330576","url":null,"abstract":"The performance of two ongoing regulatory frameworks for hydropower remuneration in Brazil is analysed. The former is the status quo design, where the individual operational risks are mitigated by a risk-sharing principle within a hydro pool structure. The latter is an insurance approach, where a security framework enables the hydro generators to transfer their risks to the consumers. Three different long-term scenario settings are assessed by using stochastic optimisation techniques. The results suggest that the level of risk in the status quo design strongly relies on the generation mix evolution, notably thermal, rather than wind or solar generation. The current insurance approach is likely to drive a transfer of wealth from consumers to generators. This condition can be overcome by adapting the insurance premium setting criteria.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"186 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121841021","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}
C. Nicolas, Benjamin Samson, J. Rozenberg, Tatiana Peralta-Quirós
This paper explores the investments needed to achieve universal access to electricity in Sub-Saharan Africa by 2030, and the additional operation and maintenance costs these investments entail. It also explores the drivers of these costs, by exploring hundreds of scenarios that combine alternative assumptions on the level of service targeted, population growth, urbanization, industrial demand, and technology cost. The main driver of electrification costs is found to be the tier of service offered to newly connected households. The annual investment required to reach universal access varies between US$14.5 billion per year on average for the basic access scenarios (0.7 percent of the region's gross domestic product per year over the period) and US$22.7 billion on average for the high-quality scenarios (1 percent of gross domestic product). In the basic access scenario, costs depend mostly on industrial demand, which takes a large share of total demand. In the high-quality scenarios, costs depend on urbanization rates, as it is cheaper to connect urban households to the grid. Investment costs are not sufficient to provide reliable service, and when operations and maintenance are accounted for, total costs increase to US$39.7 billion on average for the basic scenarios and US$61.5 billion on average for the high-quality scenarios.
{"title":"Meeting the Sustainable Development Goal for Electricity Access -- Using a Multi-Scenario Approach to Understand the Cost Drivers of Power Infrastructure in Sub-Saharan Africa","authors":"C. Nicolas, Benjamin Samson, J. Rozenberg, Tatiana Peralta-Quirós","doi":"10.1596/1813-9450-8747","DOIUrl":"https://doi.org/10.1596/1813-9450-8747","url":null,"abstract":"This paper explores the investments needed to achieve universal access to electricity in Sub-Saharan Africa by 2030, and the additional operation and maintenance costs these investments entail. It also explores the drivers of these costs, by exploring hundreds of scenarios that combine alternative assumptions on the level of service targeted, population growth, urbanization, industrial demand, and technology cost. The main driver of electrification costs is found to be the tier of service offered to newly connected households. The annual investment required to reach universal access varies between US$14.5 billion per year on average for the basic access scenarios (0.7 percent of the region's gross domestic product per year over the period) and US$22.7 billion on average for the high-quality scenarios (1 percent of gross domestic product). In the basic access scenario, costs depend mostly on industrial demand, which takes a large share of total demand. In the high-quality scenarios, costs depend on urbanization rates, as it is cheaper to connect urban households to the grid. Investment costs are not sufficient to provide reliable service, and when operations and maintenance are accounted for, total costs increase to US$39.7 billion on average for the basic scenarios and US$61.5 billion on average for the high-quality scenarios.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"429 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126502844","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}
The authors discuss the concept of sustainable society and present various components of sustainable societies. The authors discuss the procedure and steps to achieve sustainable society. The authors also discuss the hurdles in the path towards sustainable societies. The authors here present a few case studies from India to clarify the concepts and to discuss about the issues relating to sustainable societies in developing countries.
{"title":"Developing Democracy in Developing Countries: Role of Higher Educational Institutions","authors":"T. Jain, Er. Nirupa Jain","doi":"10.2139/ssrn.3314754","DOIUrl":"https://doi.org/10.2139/ssrn.3314754","url":null,"abstract":"The authors discuss the concept of sustainable society and present various components of sustainable societies. The authors discuss the procedure and steps to achieve sustainable society. The authors also discuss the hurdles in the path towards sustainable societies. The authors here present a few case studies from India to clarify the concepts and to discuss about the issues relating to sustainable societies in developing countries.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126901861","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}
The authors discuss the concept of sustainable society and present various components of sustainable societies. The authors discuss the procedure and steps to achieve sustainable society. The authors also discuss the hurdles in the path towards sustainable societies. The authors here present a few case studies from India to clarify the concepts and to discuss about the issues relating to sustainable societies in developing countries.
{"title":"Building Sustainable Society: Strategic Options and Case Studies","authors":"T. Jain, Er. Nirupa Jain","doi":"10.2139/ssrn.3314621","DOIUrl":"https://doi.org/10.2139/ssrn.3314621","url":null,"abstract":"The authors discuss the concept of sustainable society and present various components of sustainable societies. The authors discuss the procedure and steps to achieve sustainable society. The authors also discuss the hurdles in the path towards sustainable societies. The authors here present a few case studies from India to clarify the concepts and to discuss about the issues relating to sustainable societies in developing countries.","PeriodicalId":365767,"journal":{"name":"Sustainability & Economics eJournal","volume":"250 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133558409","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}
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