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  1. Taxation of carbon emissions and air pollution in intertemporal optimization frameworks with social and private discount rates
    Autor*in: Mier, Mathias; Adelowo, Jacqueline; Weissbart, Christoph
    Erschienen: October 2021
    Verlag:  ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich, Germany

    Current policies focus on reducing CO2 emissions, neglecting the existence and impact of other air pollutants such as NO2, NH3, NMVOC, PPM10, PPM2.5, and SO2. We devise a strategy to model those emissions and related social cost accounting for... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 402
    Fernleihe:
    keine Fernleihe

     

    Current policies focus on reducing CO2 emissions, neglecting the existence and impact of other air pollutants such as NO2, NH3, NMVOC, PPM10, PPM2.5, and SO2. We devise a strategy to model those emissions and related social cost accounting for diverging social and private discount rates in an intertemporal optimization framework that aims to predict firm behavior. We derive optimal CO2 and air pollution taxes above the social cost of carbon or social cost of air pollution, respectively, when social discount rates are below private ones. We implement the modeling strategy in the EUREGEN model to determine the technology and emission mix of the European power market until 2050 and quantify aggregated social cost. No taxation yields aggregated social cost of 5,145 billion € in the period 2020 to 2050. Taxing CO2 emissions only leads to aggregated social cost of 794 billion € and promotes the deployment of CCS technologies. Taxing air pollution only results in aggregated social cost of 2,091 billion € and fosters the deployment of nuclear. Taxing both reduces cost to 622 billion €. Wind and solar are almost unaffected by internalization choices.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/248558
    Schriftenreihe: Ifo working papers ; 360 (2021)
    Schlagworte: Taxation; intertemporal optimization; social cost; air pollution; carbon emission; externality; energy system model; power market model; decarbonization
    Umfang: 1 Online-Ressource (circa 80 Seiten), Illustrationen
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    Erscheint auch als Druck-Ausgabe
  2. Taxation of carbon emissions with social and private discount rates
    Autor*in: Mier, Mathias; Adelowo, Jacqueline
    Erschienen: [2022]
    Verlag:  ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich, Germany

    Energy system and power market models refrain from distinguishing between private and social discount rates. We devise a strategy to account for diverging private and social discount rates in intertemporal optimization frameworks, resulting in an... mehr

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 402
    Fernleihe:
    keine Fernleihe

     

    Energy system and power market models refrain from distinguishing between private and social discount rates. We devise a strategy to account for diverging private and social discount rates in intertemporal optimization frameworks, resulting in an optimal carbon tax above the marginal damage when private discount rates exceed the social one. We quantify results for the European power market until 2050. Not distinguishing between private and social discount rates yields carbon emissions of 0.83 Gt in 2050 with rising trend from 2020 onwards. Distinguishing between private and social discount rates achieves full decarbonization (–0.15 Gt in 2050) and avoids damages of 1,386 billion € until 2050. Results explain missing investments of firms and suggest that policymakers should announce high future carbon prices to incentivize sufficient investments into clean technologies.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/263163
    Schriftenreihe: Ifo working papers ; 374 (2022, July 2022)
    Schlagworte: Carbon taxation; discounting; social cost; carbon emission; externality; intertemporal optimization; power market model; decarbonization
    Umfang: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  3. Complementary taxation of carbon emissions and local air pollution
    Autor*in: Mier, Mathias; Adelowo, Jacqueline; Weissbart, Christoph
    Erschienen: [2022]
    Verlag:  ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich, Germany

    Current decarbonization policies neglect damages from local air pollutants. We analyze the trade-off between complementary taxation of carbon emissions and local air pollution. We quantify results for the European power market until 2050. Taxing only... mehr

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    Verlag (kostenfrei)
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    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 402
    Fernleihe:
    keine Fernleihe

     

    Current decarbonization policies neglect damages from local air pollutants. We analyze the trade-off between complementary taxation of carbon emissions and local air pollution. We quantify results for the European power market until 2050. Taxing only air pollution results in social cost of 5,890 billion € and fosters nuclear deployment. Taxing only carbon yields social cost of 716 billion € and promotes CCS deployment. Taxing both yields cost of 1,118 billion €. Moderate carbon taxation can be complementary to a primary policy of air pollution abatement. On the contrary, a primary policy of decarbonization stands in trade-off with air pollution abatement in the long-term.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/263164
    Schriftenreihe: Ifo working papers ; 375 (2022, July 2022)
    Schlagworte: Taxation; social cost; air pollution; carbon emission; externality; energy system model; power market model; decarbonization
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  4. Endogenous technological change in power markets
    Autor*in: Mier, Mathias; Adelowo, Jacqueline; Azarova, Valeriya
    Erschienen: July 2022
    Verlag:  ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich, Germany

    Decarbonization requires the transformation of power markets towards renewable energies and investment costs are decisive for the deployed technologies. Exogenous cost assumptions cannot fully reflect the underlying dynamics of technological change.... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 402
    Fernleihe:
    keine Fernleihe

     

    Decarbonization requires the transformation of power markets towards renewable energies and investment costs are decisive for the deployed technologies. Exogenous cost assumptions cannot fully reflect the underlying dynamics of technological change. We implement divergent learning-by-doing specifications in a multi-region power market model by means of mixed-integer programming to approximate non-linear investment costs. We consider European learning, regional learning, and three different ways to depreciate experience stocks within the European learning metric: perfect recall, continuous forgetting, and lifetime forgetting. Learning generally yields earlier investments. European learning fosters the deployment of solar PV and wind onshore, whereas regional learning leads to more wind offshore deployment in regions with high wind offshore quality. Perfect recall fosters solar PV and wind onshore expansion, whereas lifetime forgetting fosters wind offshore usage. Results for continuous forgetting are in between those of perfect recall and lifetime forgetting. Generally, learning leads to the earlier deployment of learning technologies but regional patterns are different across learning specifications and also deviate significantly from this general pattern of preponing investments.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/261403
    Schriftenreihe: Ifo working papers ; 373 (2022)
    Schlagworte: Endogenous technological change; learning-by-doing; forgetting; renewable energies; power market model; decarbonization
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  5. Redesigning automated market power mitigation in electricity markets
    Autor*in: Adelowo, Jacqueline; Bohland, Moritz
    Erschienen: December 2022
    Verlag:  ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich, Germany

    Electricity markets are prone to the abuse of market power. Several US markets employ algorithms to monitor and mitigate market power abuse in real time. The performance of automated mitigation procedures is contingent on precise estimates of firms'... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 402
    Fernleihe:
    keine Fernleihe

     

    Electricity markets are prone to the abuse of market power. Several US markets employ algorithms to monitor and mitigate market power abuse in real time. The performance of automated mitigation procedures is contingent on precise estimates of firms' marginal production costs. Currently, marginal cost are inferred from the past offers of a plant. We present new estimation approaches and compare them to the currently applied benchmark method. We test the performance of all the approaches on auction data from the Iberian power market. The results show that our novel approaches outperform the benchmark approach significantly, reducing the mean absolute estimation error from 11.53 €/MWh to 2.77 €/MWh for our most precise alternative approach. Applying this result to a market mitigation simulation we find sizeable overall welfare gains and welfare transfers from supplier to buyer surplus. Our research contributes to accurate monitoring of market power and improved automated mitigation. Although we focus on power markets, our findings are applicable to monitoring of renewable energy tenders or market power surveillance in rail and air traffic.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/266604
    Schriftenreihe: Ifo working papers ; 387 (2022)
    Schlagworte: Regulation; automated mitigation procedure; best-response pricing; market power; Electricity; mark-up
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen