Welcome to our book review site go-pdf.online!
You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
Can Inflation Predict Energy Price Volatility?
Fluctuations in energy prices impact production costs and inflation. This study examines whether inflation data can predict volatility in energy markets. Both inflation and energy market volatility exhibit complex behaviour over time, including structural shifts due to demand and supply shocks. Accounting for differences in data frequencies, we use an extended GARCH model (MIDAS) with Laguerre polynomials for time-varying parameters. The empirical results demonstrate that including low-frequency inflation data enhances energy model predictability particularly during periods of high volatility and extreme price fluctuations. Considering inflation improves forecasting for energy market models, benefiting portfolio management and helping policymakers manage inflation.
Fuel Price Caps in the Australian National Wholesale Electricity Market
Fuel price caps are one of the potential regulatory tools for controlling wholesale electricity prices when fuel prices are volatile. In this paper, we introduce a theoretical model to study the effects of such caps on firms' bidding behavior and clearing prices in spot market auctions. We then use data from the Australian National Electricity Market (NEM), which recently implemented such caps, to empirically test and compare their effectiveness in three different states. Our theoretical findings suggest that fuel price caps can be binding, especially when electricity demand is lower and competition among generators is higher. When demand is high, alternative policy tools, such as market pri...
An Investigation of Auctions in the Regional Greenhouse Gas Initiative
The Regional Greenhouse Gas Initiative (RGGI), as the largest cap-and-trade system in the United States, conducts quarterly auctions to distribute emissions permits to firms. This study examines the behavior of firms and the performance of RGGI auctions from both theoretical and empirical perspectives. We begin by providing a theoretical model that offers insights regarding the optimal bidding behavior of firms participating in RGGI auctions. We then analyze data from 58 RGGI auctions to assess the relevant parameters, employing panel random effects and machine learning models. Our findings indicate that most significant policy changes within RGGI, such as the Cost Containment Reserve, positively impacted the auction clearing price. Furthermore, we identify critical parameters, including the number of bidders and the extent of their demand in the auction, demonstrating their influence on the auction clearing price. This paper offers valuable policy insights for all cap-and-trade systems that allocate permits through auctions, as it substantiates the efficacy of policies and the importance of specific parameters using data from an established market.
Fixing Fuel Poverty
Since its publication in the early 90s, Brenda Boardman's Fuel Poverty has been the reference text for those wishing to learn about this complex subject. In this, its successor, she turns a critical eye to the new millennium and finds that the situation, while now more widely recognised, is far from having improved. The book begins by discussing the political awakening to the issue and exploring just who constitutes the fuel poor. It examines the factors that contribute to fuel poverty - low incomes, high fuel prices and poor quality housing - and looks at and evaluates the policies that have been employed to help reduce the problem. The latter part presents a detailed set of proposals based around long-term improvements in the housing stock that must be employed if we are to avoid a dire situation continuing to get worse. Based on detailed analysis of the situation in the UK, the growth of fuel poverty (sometimes called energy poverty) in other countries and the new focus in European policy makes the book timely and provides important lessons for those who now have to produce policies to tackle the issues.
Dynamic Models for Volatility and Heavy Tails
The volatility of financial returns changes over time and, for the last thirty years, Generalized Autoregressive Conditional Heteroscedasticity (GARCH) models have provided the principal means of analyzing, modeling and monitoring such changes. Taking into account that financial returns typically exhibit heavy tails - that is, extreme values can occur from time to time - Andrew Harvey's new book shows how a small but radical change in the way GARCH models are formulated leads to a resolution of many of the theoretical problems inherent in the statistical theory. The approach can also be applied to other aspects of volatility. The more general class of Dynamic Conditional Score models extends to robust modeling of outliers in the levels of time series and to the treatment of time-varying relationships. The statistical theory draws on basic principles of maximum likelihood estimation and, by doing so, leads to an elegant and unified treatment of nonlinear time-series modeling.
International Encyclopedia of Transportation
In an increasingly globalised world, despite reductions in costs and time, transportation has become even more important as a facilitator of economic and human interaction; this is reflected in technical advances in transportation systems, increasing interest in how transportation interacts with society and the need to provide novel approaches to understanding its impacts. This has become particularly acute with the impact that Covid-19 has had on transportation across the world, at local, national and international levels. Encyclopedia of Transportation, Seven Volume Set - containing almost 600 articles - brings a cross-cutting and integrated approach to all aspects of transportation from a...
Multinational Enterprises and Host Country Development
Multinational Enterprises and Host Country Development is a unique collection of papers looking at different aspects of the link between multinational enterprises and their effects on the host countries' economies. The volume studies effects of multinationals on R&D, innovation, productivity, wages, as well as growth and survival of firms in the host countries, and distinguishes direct and indirect effects through spillovers. All the analyses are conducted using firm level data for countries as diverse as China, Ireland, Sweden, Ghana, the UK or a group of countries in Central and Eastern Europe. This volume is a valuable reading for graduate students and researchers wishing to investigate the impact of multinationals.
Combinatorial Auctions
A synthesis of theoretical and practical research on combinatorial auctions from the perspectives of economics, operations research, and computer science.
