In this paper we analyze the economic effects of implementing EPA’s newly proposed regulations for carbon dioxide (CO2) on existing U.S. coal-fired power plants using nonparametric methods on a sample of 144 electricity generating units. Moreover, we develop an approach for evaluating the economic gains from averaging emission intensities among the utilities’ generating units, compared to imple...

An Empirical Study of the Relationships between CO2 Emissions, Economic Growth and Openness This paper investigates the existence of the environmental Kuznets curve (EKC) for carbon dioxide (CO2) emissions and its causal relationships with economic growth and openness by using time series data (1971-2006) from China (an emerging market), Korea (a newly industrialized country), and Japan (a deve...

This paper assesses the economic impacts of the Swiss climate policy formulated under the Kyoto Protocol; the impacts on the carbon price, the welfare cost, and trade effects are examined. Our analysis is based on a multi-sectoral and multi-regional, computable general equilibrium (CGE) model of the world economy (GEMINI-E3) which includes a representation of the Swiss economy. The model is use...

s tructural change is defined as a change in the relative weight of the important constituents of the macro-economic indicator such as production, taxes, imports and exports, workforce etc. since the structure change is one of the main reasons for the growth and economic development of countries, the investigation of the trend of changes in economic important constituents is important. tax as a...

abstract: this paper discusses two topics. at first, it uses continuous wavelet (morlet) transform, coherency, and phase angle analysis to study the effect of mean volatility in opec crude oil prices, wti crude oil prices, brent crude oil prices and iran’s crude oil prices on the iran’s reer. to this end, the monthly data of the variables for years 2003 to 2012 is used. coherency analysis revea...

F Forecasting the path of China’s CO2 emissions using provincelevel information Maximilian Auffhammer , Richard T. Carson Department of Agricultural and Resource Economics, 207 Giannini Hall, University of California, Berkeley, CA 94720-3310, USA University of California, San Diego, USA Received 31 December 2006 O CT ED P RO Abstract Our results suggest that the anticipated path of China’s carb...

We investigate the effects of outliers on the KPSS tests. We find that for nonstationary series outliers induce spurious stationarity by lowering the power of these tests. The empirical size of these tests is also found to be sensitive to the location of the outlier. JEL classification: C15, C22

This paper estimates the speed of the adjustment coefficient in structural error correction models (ECM) and employs a system method for real exchange rates with Hansen and Sargent’s (1980, 1982) IV methods. Empirical results show that the half-lives of purchasing power parity deviations are less than one year in most cases. JEL classification: C22, F31, F41

This study shows that annual output data of the G7 countries in the twentieth century are better characterized as transitory deviations from a (shifting) growth trend than as integrated processes. Furthermore, I find no two countries share common business cycles. JEL classification: C22, E32, 057

Li, Maddala, and Rush (1995) proposed a low-pass spectral filter method to estimate cointegrating vectors in small samples. This paper tests the effectiveness of the approach in the presence of measurement error. Two other methods, valid under the assumption of stationarity, are also tested. Email: [email protected], [email protected] Keyword: Measurement error, cointegrating vector, filter...