multi region input output analysis of co2 emissions embodied in trade the feedback effects energy related co2 emissions embodied in international trade have been widely studied by researchers using the environmental input output framework despite the increasing interest in using the multi regional input output mrio model by researchers few studies have looked into the mechanism of feedback effects we introduce a method called the stepwise distribution of emissions embodied in trade swd eet to reveal how the emissions embodied in trade are absorbed by a country s final demands through a series of allocation steps a country s indirect absorption patterns and its indirect trade balance of emissions from bilateral trade with other countries are also studied based on the proposed method an empirical study using the data of asian economies shows significant differences in the consumption based emission estimates for some economies due to feedback effects through international trade the differences can be largely captured by the first step or the first two steps of the adjustment procedure in the swd eet analysis other findings and some recommendations are also presented

the value of corporate voting rights and control a cross country analysis this paper measures the value of corporate voting rights specifically of the control block of votes in a sample of 661 dual class firms in 18 countries in 1997 a consistent measure across countries is proposed the measure is adjusted for takeover probability block holding costs and dividend and liquidity differences between the share classes the value of controlblock votes varies widely across countries it is close to half of firm market value in south korea andclose to zero in finland the value of control block votes is interpretedas a lower bound for actual private benefits of the controlling shareholder the legal environment law enforcement investor protection takeover regulations andpower concentrating corporate charter provisions explain 68 of the cross country variation in the value of control block votes

the efficiency of equity in organizational decision processes it is now widely accepted that rent seeking anne krueger 1974 or directly unproductive profit seeking jagdish bhagwati 1982 may cause inefficiencies in the context of public sector decisions the possibility that government decisions for example about taxes quotas franchises or standards may create or redistribute rents induces private parties to spend valuable resources to influence that distribution even when such expenditures carry no social benefit moreover the social cost of rent seeking can exceed the value of the resources spent trying to gain and protect rents for example because the fear of losing wealth through redistribution reduces the incentives for wealth creation treating rent seeking activities as characteristic of public sector decision processes ignores the fact that similar phenomena are to be found in firms unions and other private sector organizations our recent work milgrom 1988 our 1988 1990 papers attempts to identify the advantages of decision processes private or public that permit rent seeking and to incorporate these into a cost benefit analysis of optimal decision processes our work begins with an analysis of why rents and quasi rents arise in organizations and of the forms that the rent seeking they engender may take some measures to insulate the decision process from rent seeking such as limits on the provision of information by interested parties or restrictions on the range of options considered may degrade the quality of decisions especially by blocking the flow of valuable information optimal decision processes balance the costs of rent seeking against the value of information obtained several aspects of the rules affect the opportunities that members have to spend resources trying to alter the distribution of rents to ascertain the possibilities for rent seeking the analyst must ask questions like can the parties propose new initiatives at any time can they give volumes of testimony in a form of their own choosing can they appeal adverse decisions are decision makers obliged to respond to the parties initiatives is the range of actions that they can take in response relatively broad rather than being tightly constrained by property rights or other formal rules more affirmative answers to these questions lead to more opportunities or greater incentives for costly rent seeking as a kind of shorthand we call decision processes that have more of these elements more open processes the very elements that make a process open to rent seeking may also add flexibility and responsiveness helping to ensure that important ideas and proposals are fully considered from this perspective the benefits of openness can in principle be measured by a value of information calculation in the usual manner of statistical decision theory weighing the costs and benefits it follows that a more open process is more desirable when the rents available for redistribution are low and the value of the information that might be acquired is high conversely when the potential for redistribution is high and the value of information is low the optimal decision process is less open this kind of reasoning helps to illuminate the variations in the decision processes that are found in many organizations we have discussed a number of examples in our earlier work including the characteristics of personnel departments the contrasting patterns of decision making employment and compensation in u s and japanese firms professor of economics stanford university and jonathan b lovelace professor of economics graduate school of business stanford university stanford ca 94305 respectively this work was supported by the national science foundation

energy embodied in the international trade of china an energy input output analysis abstract growing international trade has not only positively affected the people s republic of china s china s economic development but also expanded the exportation of energy embodied in goods during their production this energy flow out will pose risks to china s rational utilization of natural resources as well as environmental protection in this paper we evaluate the energy embodied in goods produced in china during 1992 2005 and use input output structural decomposition analysis to identify five key factors causing the changes of energy embodied in exports direct primary energy efficiency primary energy consumption structure structure of intermediate inputs structure of exports and scale of exports for the three sub periods of 1992 1997 1997 2002 and 2002 2005 results show that china is a net exporter of energy and the energy embodied in exports tends to increase over time the expanding total volume of exports and increasing exports of energy intensive goods tend to enlarge the energy embodied in exports within all three sub periods but these driving forces were offset by a considerable improvement of energy efficiency and changes in primary energy consumption structure from 1992 to 2002 and the effects of structure of intermediate input only in the sub period from 1992 to 1997 from 2002 to 2005 the sharp augmentation of energy embodied in exports was driven by all the five factors our research has practical implications for the chinese economy results of this study suggest that the energy embodied in trade should receive special attentions in energy policies design to limit the energy resource out flow and pollution generation

decoupling between human development and energy consumption within footprint accounts abstract historically the growth of energy consumption has fuelled human development but this approach is no longer socially and environmentally sustainable recent analyses suggest that some individual countries have responded to this issue successfully by decoupling total primary energy supply from human development increase however globalisation and international trade have allowed high income countries to outsource industrial production to lower income countries thereby increasingly relying on foreign energy use to satisfy their own consumption of goods and services accounting for the import of embodied energy in goods and services this study proposes an alternative estimation of the decoupling index based on the total primary energy footprint rather than total primary energy supply an analysis of 126 countries over the years 2000 2014 demonstrates that previous studies based on energy supply highly overestimated decoupling footprint based results on the other hand show an overall decrease of the decoupling index for most countries 93 out of 126 there is a reduction of the number of both absolutely decoupled countries from 40 to 27 and relatively decoupled countries from 29 to 17 and an increase of coupled countries from 55 to 80 furthermore the study shows that decoupling is not a phenomenon characterising only high income countries due to improvements in energy efficiency but is also occurring in countries with low human development index and low energy consumption finally six exemplary countries have been identified which were able to maintain a continuous decoupling trend from these exemplary countries lessons have been identified in order to boost the necessary global decoupling of energy consumption and achieved welfare

natural gas overview for world economy from primary supply to final demand via global supply chains abstract as the world is smoothing the transition towards a low carbon energy structure natural gas has occupied a critical position in global energy supply also globalization has catalyzed ever increasing indirect energy flows in international trade in order to present a comprehensive overview of natural gas use in globalized economy this paper applies the systems multi regional input output mrio analysis to track natural gas use from primary suppliers to final consumers via the links by producers in the world economy supported by typical statistics for the year of 2011 natural gas embodied in international trade is revealed amounting to 2722 1 bcm in magnitude up to 90 of total gas extraction for energy use indicating the intensive relocation of gas use by trade 83 of traded embodied natural gas is associated with intermediate trade mainly from leading primary suppliers including russia usa and western asia to dominant final consumers like usa eu27 and east asia significant differences are found between direct and embodied natural gas flows consumption based resource efficiency can break the illusion of efficiency improvements and trade imbalance in terms of gas use can be opposite to the trade imbalance in conventional monetary terms this paper has constructed a comprehensive analytical framework to trace natural gas flows in globalized economy for the first time aiming to provide new insights for policy making

an economic approach to influence activities in organizations members of organizations spend considerable time effort and ingenuity attempting to influence decision makers such influence activities may bring benefits to the organization but they also involve real costs this essay offers an economic rationale for such influence activity as representing rational self interested behavior in the presence of informational asymmetries and an analysis of how the design of the organization s structure and policies should respond to the incentives for attempting influence it is posited that information valuable for the organization s decision making is directly available only to members of the organization who have some personal stake in the decisions these individuals may then have an incentive to try to manipulate the information they develop and provide in order to influence the resulting decisions to their benefits this can be costly both in degrading the quality of decision making and in diverting the attention and effort of the organization s members from more productive activities the organization has three different methods it can employ to discourage excessive influence activities and to encourage more directly productive uses of time and effort it can limit access to decision makers and participation in decision making it can alter its decision making criteria to favor those performing well in productive activities and it can provide direct financial incentives to encourage the desired allocation of effort it is shown that an efficiently designed organization will use such financial incentives only as a last resort instead it will always first alter its decision participation policies and decisionmaking criteria

china s changing energy intensity trend a decomposition analysis china experienced a dramatic decline in energy intensity from the onset of economic reform in the late 1970s until 2000 but since then the rate of decline slowed and energy intensity actually increased in 2003 most previous studies found that most of the decline was due to technological change but disagreed on the role of structural change to the best of our knowledge no decomposition study has investigated the role of inter fuel substitution in the decline in energy intensity or the causes of the rise in energy intensity since 2000 in this paper we use logarithmic mean divisia index lmdi techniques to decompose changes in energy intensity in the period 1980 2003 we find that 1 technological change is confirmed as the dominant contributor to the decline in energy intensity 2 structural change at the industry and sector sub industry level actually increased energy intensity over the period of 1980 2003 although the structural change at the industry level was very different in the 1980s and in the post 1990 period 3 structural change involving shifts of production between sub sectors however decreased overall energy intensity 4 the increase in energy intensity since 2000 is explained by negative technological progress 5 inter fuel substitution is found to contribute little to the changes in energy intensity

carbon footprint scenarios for renewable electricity in australia abstract despite considerable mitigation efforts global emissions from the electricity sector continued to grow in recent years in australia the electricity sector is the largest co 2 emitting industry contributing 35 of the country s total greenhouse gas emissions the australian government targets an 80 reduction of greenhouse gas emissions by 2050 relative to 2010 with a large variety and quantity of renewable energy resources it is technically feasible and seems indispensable that australia s electricity sector be largely decarbonised by 2050 in order to achieve this target in this paper scenario based hybrid life cycle assessment is applied to calculate the economy wide carbon footprints of seven electricity generation technologies in scenarios with differing renewable electricity penetration this work is the first to apply a full life cycle approach to scenario analysis of electricity generation in australia the findings are at the higher end of previously reported carbon footprint intensity ranges and above median values however even when taking into account indirect emissions along the technologies life cycles the results indicate that the employment of different renewable energy technologies can potentially save a considerable fraction of australia s greenhouse gas emissions this makes renewables an essential option for climate change mitigation

efficient influence activities with endogenous rent this paper analyzes the effects of influenceactivities on organizational efficiency ina principal agent framework with endogenousrent it shows that with endogenousrent influence activities canimprove efficiency even if theirinformative value is low effects on thedissipation rate of rent are alsoconsidered in particular it is shownthat with endogenous rent more powerfulincentives on influence activities only increasethe dissipation rate when the sum ofthe elasticities of the influence costsfunction and of the production function isgreater than one

primary energy and greenhouse gases embodied in australian final consumption an input output analysis input output modeling of primary energy and greenhouse gas embodiments in goods and services is a useful technique for designing greenhouse gas abatement policies the present paper describes direct and indirect primary energy and greenhouse gas requirements for a given set of australian final consumption it considers sectoral disparities in energy prices capital formation and international trade flows and it accounts for embodiments in the gross national expenditure as well as the gross domestic product primary energy and greenhouse gas intensities in terms of mj and kg co2 e are reported as well as national balances of primary energy consumption and greenhouse gas emissions

energy requirements of sydney households supporting the lifestyles of the populations of modern cities requires vast quantities of natural resources and leads to environmental stresses such as air and water pollution research into the metabolism of cities therefore aims at understanding the physical flows into within and out of cities with a view to reducing the use of resources and the environmental impacts one important physical indicator is energy use most studies on cities only consider direct or end user energy consumption since the function of cities is to serve the lives of their residents indirect energy use in cities or energy embodied in the consumption of goods and services by its residents can be regarded as being as important as direct energy use however physical models of cities are extremely complex and have difficulty in dealing with boundary issues and hence the indirect resource requirements in this paper we use input output analysis and detailed household expenditure data to yield comprehensive energy use breakdowns for the 14 statistical subdivisions of sydney multivariate regression and structural path analysis spa are used to interpret the results clear correlations can be drawn between energy use and income household size age and degree of urbanity the structural path analysis is used to demonstrate how significant differences in lifestyles between inner and outer areas of sydney leads to different energy use characteristics this final consumption based approach to analysing the energy requirements for households has important implications for measures aimed at reducing energy use which tend to only consider direct energy use d 2004 elsevier b v all rights reserved

shareholders agreements and voting power evidence from italian listed firms this work provides an empirical investigation of shareholders agreements signed in italy over the past decade the evidence shows that agreements produce a remarkable reshuffling of voting power shapley value among participants in particular the first owner gains much voting power at low levels of ownership concentration and his gain is decreasing in his ownership stake the opposite happens for the other participants in addition the likelihood that a supermajority rule is included in an agreement contract is increasing in the first owner s share of equity these findings are consistent with the hypothesis that agreements are used to correct situations where the first owner s power is at one of the two extremes either too low leading to insufficient monitoring over managers and gridlocks in decision making or too high enabling him to extract large private benefits of control

comparison of household consumption and regional production approaches to assess urban energy use and implications for policy assessment of urban energy use may proceed by a number of methods here we derive an energy account from local statistics and compare them with an input output io analysis as applied to melbourne australia these approaches highlight different aspects of urban energy use and comparable outputs are presented together to assess consistency to identify complementarities and discuss the insight each approach brings to understanding urban energy the io method captures the direct and embodied primary energy requirements of local household expenditure 235 8 gj capita year while the regional assessment more directly accounts for local production activity 258 1 gj capita year the parity of these results is unexpected for a developed city with a strong tertiary sector sectoral detail reveals differences between the primary energy required by melbourne s economic structure and that ultimately required through the full supply chain relating to household expenditure this is accompanied by an io analysis of the geography of melbourne s energy catchment it is suggested that the io consumption and regional production approaches have particular relevance to policies aimed at consumption behaviour and economic re structuring respectively their complementarity further suggests that a combined analysis would be valuable in understanding urban energy futures and economic transitions elsewhere

energy use embodied in china s construction industry a multi regional input output analysis abstract the rapid urbanization process was bound to produce considerable energy demand in china which increased the pressure on sustainable development this study employed a multi regional input output model to investigate energy use embodied in the consumption and interregional trade of china s construction industry results show that as a typical demand driven sector the construction industry consumed 793 74 million tons of coal equivalent in 2007 which is equal to 29 6 of china s total national energy consumption regions have been divided according to different driving forces for energy increment shanxi liaoning heilongjiang henan and sichuan were identified to be driven by their extensive construction activities and inefficient construction process interregional imports of the construction industry represented a resource dependent geographical distribution energy flows are from resource abundant areas in the central part to resource deficient areas in the eastern coast by contrast energy exports represented a regional discrete distribution which mainly transferred energy in the form of labor mobility and service supply this study provided insight into the current energy consumption status of provincial construction industry from both regional and sectoral perspectives which can be a basis for energy policy making and implementation

optimal monetary policy in economies with dual labor markets abstract we present a dynamic stochastic general equilibrium dsge new keynesian model with indivisible labor and a dual labor market a walrasian one where wages are fully flexible and a unionized one characterized by real wage rigidity we show that the negative effect of a productivity shock on inflation and the positive effect of a cost push shock are crucially determined by the proportion of firms that belong to the unionized sector the larger this number the larger are these effects consequently the larger the union coverage the larger should be the optimal response of the nominal interest rate to exogenous productivity and cost push shocks the optimal inflation and output gap volatility increases as the number of the unionized firms in the economy increases

energy intensity developments in 40 major economies structural change or technology improvement this study analyzes energy intensity trends and drivers in 40 major economies using the wiod database a novel harmonized and consistent dataset of input output table time series accompanied by environmental satellite data we use logarithmic mean divisia index decomposition to 1 study trends in global energy intensity between 1995 and 2007 2 attribute efficiency changes to either changes in technology or changes in the structure of the economy and 3 highlight sectoral and regional differences we first show that heterogeneity within each sector across countries is high these general trends within the sectors are dominated by large economies first and foremost the united states in most cases heterogeneity is lower within each country across the different sectors regarding changes of energy intensity at the country level improvements between 1995 and 2007 are largely attributable to technological change while structural change is less important in most countries notable exceptions are japan the united states australia taiwan mexico and brazil where a change in the industry mix was the main driver behind the observed energy intensity reduction

german s oil footprint an input output and structural decomposition analysis abstract it is generally thought that the country with net exports in goods is also a net exporter of energy embodied in goods in this work we report a paradox phenomenon which shows that germany was a net goods exporter but also a net importer of embodied oil based on the multi region input output model and structural decomposition analysis this paper comprehensively analyzed the changing trend and main driving factors of oil footprints in german trade the results showed that germany s embodied oil exports increased by 35 06 with the expansion of trade scale and germany s net imports of embodied oil fell by 45 49 during the study period although the focus of embodied oil transfer in trade was eu countries the embodied oil trade volume between germany and developing countries especially china grew rapidly from sectoral level heavy manufacturing and transport industry dominated more than 70 of the germany s embodied oil trade the decomposition analysis showed that the scale effect of final demand was the main factor that contributed to the growth of oil footprints in germany s international trade which offset the inhibition of oil consumption intensity the effect of production structure played an important role in the embodied oil trade and the low oil intensive industrial structure was the main reason why germany was a net importer of embodied oil

the olson ratio and indirectly endogenous rent we consider an economy where the rent value depends indirectly on value adding investment of agents thus indirectly endogenous and the win probability is a function of rent seeking spending we introduce the olson ratio characterize it at symmetric cournot nash equilibrium of a perfectly discriminating contest and relate it to the tullock dissipation rate we investigate the possibility of black holes

the driving forces of china s energy use from 1992 to 2010 an empirical study of input output and structural decomposition analysis abstract the energy consumption in china has accelerated since the early 2000s and china became the largest energy consumer in the world by 2010 to examine the driving forces of china s energy use this paper conducts a structural decomposition analysis based on hybrid input output tables in addition we describe the framework of china s energy system by using two energy flow charts the results show that china s current energy use is investment led demand between 1992 and 2007 the three main final demand categories gross fixed capital formation household consumption and exports contributed approximately one third each to the changes of total energy use in china between 2007 and 2010 however three quarters of energy consumption changes came from investment activity only technological improvement saved approximately five percent of the total energy use annually during the periods of 1992 1997 1997 2002 and 2007 2010 in the period of 2002 2007 however its contribution dropped to only three percent p a due to the rise of the indirect energy requirement coefficient in the construction sector these results suggest that adjusting the final demand structure and improving energy efficiency further will meet china s energy challenges in the future

changes in energy efficiency in australia a decomposition of aggregate energy intensity using logarithmic mean divisia approach abstract this paper provides an empirical estimation of energy efficiency and other proximate factors that explain energy intensity in australia for the period 1978 2009 the analysis is performed by decomposing the changes in energy intensity by means of energy efficiency fuel mix and structural changes using sectoral and sub sectoral levels of data the results show that the driving forces behind the decrease in energy intensity in australia are efficiency effect and sectoral composition effect where the former is found to be more prominent than the latter moreover the favourable impact of the composition effect has slowed consistently in recent years a perfect positive association characterizes the relationship between energy intensity and carbon intensity in australia the decomposition results indicate that australia needs to improve energy efficiency further to reduce energy intensity and carbon emissions

input output analysis of co2 emissions embodied in trade the effects of sector aggregation abstract energy related co2 emissions embodied in international trade have been widely studied by researchers using the environmental input output analysis framework it is well known that both sector aggregation and spatial aggregation affect the results obtained in such studies with regard to the latter past studies are often conducted at the national level irrespective of country or economy size for a large economy with the needed data studies may be conducted at different levels of spatial aggregation we examine this problem analytically by extending the work of su et al su b huang h c ang b w zhou p 2010 input output analysis of co2 emissions embodied in trade the effects of sector aggregation energy economics 32 1 166 175 on sector aggregation we present a numerical example using the data of china and by dividing the country into eight regions it is found that the results are highly dependent on spatial aggregation our study shows that for a large country like china it is meaningful to look into the effect of spatial aggregation

structural path and decomposition analysis of aggregate embodied energy intensities in china 2012 2017 abstract the dependence of the economic development of a region on its energy consumption is a major challenge for developing countries the aggregate embodied energy intensity aei based on an input output framework reflects the interaction between regional economy and energy consumption driven by final demand studying the change in aei from the perspective of sector production and final demand can effectively control the source and trend of energy intensity change in order to control the growth of energy intensity however there is a relative lack of studies determining the causes of aei changes from the perspective of sectors and final demands this study attempted to identify the influencing factors of aei changes and establish an aei based environmental policy in china a multiplicative structural decomposition analysis and a structural path analysis were used to study the aei under conditions of different final demands sectors and transmission layers along with the factors influencing aei changes in china from 2012 to 2017 our results indicate that the final demand category of gross fixed capital formation made the largest contribution to aei changes in 2012 and 2017 and the multiplicative intensity factor significantly inhibited the decrease in aei among the sectors studied only a few were found to significantly affect the change in aei with s11 processing of petroleum coking and nuclear fuel s12 chemical industry and s14 smelting and rolling of metals being the key sectors that input high energy consumption products to other sectors

the value of the voting right a study of the milan stock exchange experience i study the large premium 82 percent attributed to voting shares on the milan stock exchange the premium varies according to the ownership structare and the concentration of the voting rights and it can be rationalized in the presence of enormous private benefits of control a case study seems to indicate that in italy private benefits of control can easily be worth more than 60 percent of the value of nonvoting equity a tentative explanation for these findings is provided traditional finance theory disregards the value of voting rights in pricing common stock in most cases this omission does not seem harmful many studies of differential voting stocks in different countries have indicated that voting rights are generally worth between 10 percent and 20 percent of the value of common stock the italian evidence i present differs sharply from this view in italy voting shares that have inferior dividend rights trade at an average premium

multiplicative structural decomposition analysis of aggregate embodied energy and emission intensities abstract aggregate intensity indicators such as the ratio of a country s energy and emissions to its gdp are often used by researchers and policymakers to study energy and environmental performance this paper analyzes the relationship between energy or emissions and value added or gdp from a different viewpoint namely from the demand rather than the production perspective using the input output i o framework the aggregate embodied intensity aei defined as the ratio of embodied energy or emissions to embodied value added can be defined at the aggregate final demand category and sectoral levels the total aggregate intensity can be presented as a weighted sum of the aeis at the final demand category or sectoral level changes of the aei at different levels can be decomposed to identify the driving forces using multiplicative sda a study using the latest 2007 and 2012 datasets of china indicates that a its aggregate intensity of co 2 emissions was mainly determined by the aei in investment and b the emission intensity effect generally contributed the most to the aei ratio changes at different levels the proposed framework can be applied to other aggregate intensity indicators and extended to multi country region analysis

coal use embodied in globalized world economy from source to sink through supply chain abstract an empirical analysis of coal use embodied in the globalized world economy is performed in the present work via the application of a systems multi regional input output model for 2012 the use of primary coal is tracked from the sources of exploitation to the sinks of final use through inter regional trade as a global supply network mainland china is revealed to be the largest coal user but the per capita coal use embodied in its household consumption is only a quarter of that in the united states and doesn t even exceed the level in the united kingdom the leader in the movement away from coal the global trade volume of coal use is in magnitude calculated up to seventy percent of the world total coal exploitation the united states is demonstrated to be the world s leading importer of coal use of which the imports are dominated by non coal products as indirect coal imports in contrast mainland china is the leading exporter mainly due to the massive exports of commodities made in china two new indicators of self sufficiency rates are developed in order to explore the direct and indirect external coal dependence of the region two fifths of the coal finally used by the united states turns out to be exploited from foreign areas which is different from the result that the united states has no dependence on foreign coal resources based on the conventional external dependence degree this overview of coal use aims to provide a global insight into energy sustainability as well as a sound scientific reference for policy making for global resources management and climate change mitigation

china s energy consumption change from 1987 to 2007 a multi regional structural decomposition analysis abstract increasing use of energy has helped to stimulate china s economy despite central planning china has great differences in economic development energy endowment and energy consumption across its regions this paper uses the structural decomposition approach to uncover the regional disparities in energy consumption from 1987 to 2007 we also examine six possible key factors for the change in energy consumption by region we find that final demand change outpaced efficiency improvements to drive up energy use in all regions between 1987 and 2007 more surprisingly from 2002 to 2007 it appears that changes in production structure enhanced energy consumption in most regions china produced more energy intensive goods for capital investment and export we contend that improving the energy efficiency of key energy intensive sectors would lead a significant decline in energy intensity energy directly or indirectly is flowing from northwest central and north china to coastal regions regional specific policies should be designed to promote production structure change and curb energy demand

revisiting drivers of energy intensity in china during 1997 2007 a structural decomposition analysis the decline of china s energy intensity slowed since 2000 during 2002 2005 it actually increased reversing the long term trend therefore it is important to identify drivers of the fluctuation of energy intensity we use input output structural decomposition analysis to investigate the contributions of changes in energy mix sectoral energy efficiency production structure final demand structure and final demand category composition to china s energy intensity fluctuation during 1997 2007 we include household energy consumption in the study by closing the input output model with respect to households results show that sectoral energy efficiency improvements contribute the most to the energy intensity decline during 1997 2007 the increase in china s energy intensity during 2002 2007 is instead explained by changes in final demand composition and production structure changes in final demand composition are mainly due to increasing share of exports while changes in production structure mainly arise from the shift of chinese economy to more energy intensive industries changes in energy mix and final demand structure contribute little to china s energy intensity fluctuation from the consumption perspective growing exports of energy intensive products and increasing infrastructure demands explain the majority of energy intensity increase during 2002 2007

energy use by chinese economy a systems cross scale input output analysis abstract an overview for energy use in chinese economy is presented in this study by means of a systems cross scale input output analysis to concretely reflect the cross scale effect between china and the rest of the world embodied energy intensity of foreign imports is provided on the basis of our recent work on the world economy in contrast to the conventional assumption of the same intensity for both the foreign and domestic trade in 2012 the energy embodied in gross fixed capital formation is found to constitute nearly half of the total energy use in china three quarters larger than the total household consumption approximately 40 of energy resources embodied in final use turn out to be imported from foreign regions twice the share of the direct energy imports in total energy consumption recorded by traditional direct accounting the trade imbalance in energy use is illustrated with the support of the law of comparative advantage in addition to economic benefits hidden social impacts including indirect external dependence and health costs associated with non energy trade should also be considered by the government in industrial structure adjustment the present embodiment study is expected to be remarkably supportive for sustainable energy policy making in china

corporate groups dual class shares and the value of voting rights abstract it is known that deviating from the one share one vote principle through the issue of non voting stock increases the value of outsiders voting rights we argue that the creation of a business group is another way to deviate from one share one vote and we show that it produces a larger voting share premium in holding companies as a consequence having both subsidiaries and non voting stock produces a multiplier effect on the voting premium the puzzling size of the premium in italy was never related to the interaction of pyramiding and non voting stock our empirical study confirms that the premium is larger for holding companies issuing non voting stock than for similar operating companies without non voting equity

labour productivity and energy intensity in australia 1974 87 an input output analysis abstract energy and labour productivity in australia is examined using the notion of vertical integration in an input output framework results indicate a decline in productivity growth rates during the 1978 1982 period for both energy and labour energy productivity growth was negative during this period the productivity slowdown was pronounced in the natural resource sectors agriculture food products and minerals results indicate that movements in primary input efficiency are positively correlated suggesting that input complementarity may override substitution effects during macroeconomic shocks

the social value of public information with costly information acquisition abstract in a beauty contest framework public authorities decide the accuracy of public information evaluating how it affects individual actions and private information acquisition more precise public information increases welfare whenever its marginal cost does not exceed that of private information

an analysis of the principal agent problem most analyses of the principal agent problem assume that the principal chooses an incentive scheme to maximize expected utility subject to the agent s utility being at a stationary point an important paper of mirrlees has shown that this approach is generally invalid we present an alternative procedure if the agent s preferences over income lotteries are independent of action we show that the optimal way of implementing an action by the agent can be found by solving a convex programming problem we use this to characterize the optimal incentive scheme and to analyze the determinants of the seriousness of an incentive problem

energy intensity and embodied energy flow in australia an input output analysis abstract decoupling energy use from economic growth is critical for improving energy productivity and mitigating climate change input output databases have been increasingly utilised for consumption based energy accounting and for exploring both the direct and indirect influence of energy use this study performed an environmentally extended input output analysis of energy use in australia from 2006 to 2015 to investigate the total energy intensity of industry sectors and the embodied energy flow from sources of energy use to the final consumption of commodities between 2006 and 2015 the national direct energy intensity reduced by an average of 2 per annum nearly all industry sectoral groups reduced their total energy intensity because of direct energy intensity reduction from other or within industry sectoral groups the difference between the embodied energy use in the import and the export had widened making australia a greater net importer of embodied energy with significant outsourcing of direct energy use and associated greenhouse gas emissions despite a slight reduction in per capita direct household energy use 3 the per capita indirect energy use embodied in household commodity consumption increased by 7 as indirect household energy use is more than three times direct household energy use improving end use energy efficiency should also consider the embodied energy in commodities structural decomposition analysis shows that for the studied period population growth and per capita demand for imported commodities are two major contributors for the increased total embodied energy in australia