energy consumption and economic growth nexus in tanzania an ardl bounds testing approach abstract in this paper we examine the intertemporal causal relationship between energy consumption and economic growth in tanzania during the period of 1971 2006 unlike the majority of the previous studies we employ the newly developed autoregressive distributed lag ardl bounds testing approach by pesaran et al 2001 bounds testing approaches to the analysis of level relationships journal of applied econometrics 16 289 326 to examine this linkage we also use two proxies of energy consumption namely total energy consumption per capita and electricity consumption per capita the results of the bounds test show that there is a stable long run relationship between each of the proxies of energy consumption and economic growth the results of the causality test on the other hand show that there is a unidirectional causal flow from total energy consumption to economic growth and a prima facie causal flow from electricity consumption to economic growth overall the study finds that energy consumption spurs economic growth in tanzania

demand for gasoline in kuwait an empirical analysis using cointegration techniques abstract this paper estimates the demand for gasoline in kuwait for the period 1970 1989 using a cointegration and error correction model ecm it is found that gasoline demand is inelastic with respect to price in the short and long run and while it is elastic in the long run gasoline demand is inelastic with respect to income in the short run this suggests that gasoline demand response to income changes is higher in the long run than in the short run furthermore gasoline consumption adjusts towards its long run level with about 52 of the adjustment occurring in the first year

the unilateral incentives for technology transfers predation and deterrence by proxy abstract joint production between rival firms often entails knowledge transfers without direct compensation leaving the question as to why more efficient firms would give their rivals such an advantage we find that such transfers are credible mechanisms to make the market more competitive so as to deter entry or force exit we determine that with free entry such transfers are profitable and further it may be optimal to predate or deter every firm possible so that a market with many firms can become a duopoly while consumers are harmed by such action production efficiency normally increases sufficiently so that welfare increases

energy use efficiency in the indian manufacturing sector an interstate analysis abstract this paper approaches the measurement of energy efficiency from a production theoretic framework and uses data envelopment analysis to measure energy efficiency in the indian manufacturing sector using data from the annual survey of industries for the years 1998 99 through 2003 04 the study compares the energy efficiency in manufacturing across states based on several models the results show considerable variation in energy efficiency across states comparing the results across our models we find that the relative pricing of energy does not provide the appropriate incentives for energy conservation a second stage regression analysis reveals that states with a larger share of manufacturing output in energy intensive industries have lower energy efficiency also higher quality labor force associates with higher energy efficiency finally the power sector reforms have not yet had any significant impact on achieving energy efficiency

electricity pricing in a partial reformed plan system the case of china despite three decades of reform the electric power industry in china is still organised by a partial reformed plan system where the investment to build capacity has been liberalised but the prices and the production remain controlled by the state this paper examines the pricing behaviour of the power supply in china where the state attempts to balance the interest between the public and the electric power industry the empirical evidence shows that the cost factors are critical to the electricity pricing in china and that the bargaining mechanism which sets the plan price allows the power producers to face a soft budget constraint on their own costs

technical change inter factor and inter fuel substitution possibilities in pakistan a trans log production function approach abstract energy consumption in pakistan increased significantly over the last two decades primarily due to industrialization in order to meet the growing energy needs the government adopted short term policies by setting up thermal power projects which are more expensive both in terms of fiscal cost and environmental damages as compared to hydro power projects the former has exposed pakistan to international oil price shocks and environmental degradations this study therefore attempts to analyze technical change using trans log production function by employing non energy factors i e capital and labor and energy factors i e petroleum and natural gas to estimate elasticity of substitution the purpose of the study is to provide policy suggestions to the government on how to achieve high economic growth vis a vis improved energy security and environmental sustainability the results reveal that capital energy and labor energy are substitutes thereby suggesting the need for an increased focus on technological advancement and skilled employment generation to conserve energy and reduce co 2 emission a gradual elimination of energy subsidies which will make energy price reflects its true cost is required to further discourage increased energy consumption and promote capital intensive production methods a scenario analysis based on the elasticity of substitution between capital energy and petroleum gas shows the potential of energy conservation and emission mitigation the results further suggest the importance of a diversified energy supply mix characterized by abundant hydro and other renewable energy resources alongside natural gas

estimates of electricity saving potential in chinese nonferrous metals industry the paper analyzes the electricity saving potential of nonferrous metals industry in china the cointegration method is applied to estimate electricity intensity of chinese nonferrous metals industry in an effort to predict future electricity saving potential the results show that there is a long run equilibrium between electricity intensity and factors such as r d intensity industrial electricity price enterprise scale and labor productivity by means of scenario analysis we evaluate different possible measures that might be adopted to narrow down the electricity efficiency gap between nonferrous metals industry in china and that of japan the results indicate that more active electricity conservation policies are needed in order to reduce the electricity intensity of chinese nonferrous metals industry we also find that the electricity efficiency gap could be significantly narrowed by 2020 if proper electricity conservation policy is adopted finally based on the results of the scenario analysis future policy priorities are suggested

the rebound effect for heavy industry empirical evidence from china abstract energy efficiency improvement will reduce the effective price of energy services and hence at least partially mitigate original expected energy conservation therefore the magnitude of rebound effect is important for the design and timing of an effective energy conservation policy under the framework of translog cost share equations we estimates the direct rebound effect for heavy industry in china for the first time by conducting an empirical research on the relationship between the direct rebound effect and the ease with which energy services can substitute for other inputs additionally asymmetric price responses are specified in the model for the rebound effect estimation empirical results in our paper indicate that the rebound effect for heavy industry in china is about 74 3 this reveals that energy efficiency improvement can save energy to a certain degree since the rebound effect is less than 100 back fire but most of the expected reduction in heavy industry energy consumption is mitigated these findings prove that energy pricing reforms and energy taxes should be further implemented to achieve effective energy conservation in china s 12th five years plan

income and price elasticities of electricity demand aggregate and sector wise analyses abstract cointegration and vector error correction modeling approaches are widely used in electricity demand analysis the study rigorously examines the determinants of electricity demand at aggregate and sectoral levels in pakistan in the backdrop of severe electricity shortages our empirical findings give support to the existence of a stable long run relationship among the variables and indicate that electricity demand is elastic in the long run to both income and price at aggregate level at sectoral level long run income and price elasticity estimates follow this pattern except in agricultural sector where electricity demand is found elastic to output but inelastic to electricity price on the contrary the coefficients for income and price are rather small and mostly insignificant in the short run we employed temperature index price of diesel oil and capital stock at aggregate and sectoral levels as exogenous variables these variables account for most of the variations in electricity demand in the short run it shows that mechanization of the economy significantly affect the electricity demand at macro level moreover elastic electricity demand with respect to electricity price in most of the sectors implies that electricity price as a policy tool can be used for efficient use and conservation

technological progress and energy rebound effect in china s textile industry evidence and policy implications abstract although energy efficiency improvement can reduce energy consumption reduction of the effective price will also increase the demand for energy services part of this reduction is then offset because of the energy efficiency improvement the magnitude of this energy rebound effect is one of the important factors that must be considered in the formulation and implementation of energy policies the textile industry is a traditional pillar industry in china it is an important part of the national economy and contributes significantly to international trade this study uses the morishima elasticities of substitution mes model combined with asymmetric energy prices trans log cost function and other econometric methods to establish a framework to measure the rebound effect in china s textile industry the empirical results of this paper indicate that the rebound effect for china s textile industry is 20 991 this reveals that energy efficiency improvement is conducive for energy saving to a certain degree notwithstanding these results also prove that energy efficiency improvement is not the only way for china s textile industry to realize energy saving and emission reduction finally based on the analysis future policy priorities are suggested

modelling energy demand of developing countries are the specific features adequately captured abstract this paper critically reviews existing energy demand forecasting methodologies highlighting the methodological diversities and developments over the past four decades in order to investigate whether the existing energy demand models are appropriate for capturing the specific features of developing countries the study finds that two types of approaches econometric and end use accounting are commonly used in the existing energy demand models although energy demand models have greatly evolved since the early seventies key issues such as the poor rich and urban rural divides traditional energy resources and differentiation between commercial and non commercial energy commodities are often poorly reflected in these models while the end use energy accounting models with detailed sectoral representations produce more realistic projections as compared to the econometric models they still suffer from huge data deficiencies especially in developing countries development and maintenance of more detailed energy databases further development of models to better reflect developing country context and institutionalizing the modelling capacity in developing countries are the key requirements for energy demand modelling to deliver richer and more reliable input to policy formulation in developing countries

energy consumption and economic growth assessing the evidence from greece abstract this paper attempts to shed light into the empirical relationship between energy consumption and economic growth for greece 1960 1996 employing the vector error correction model estimation the vector specification includes energy consumption real gdp and price developments the latter taken to represent a measure of economic efficiency the empirical evidence suggests that there is a long run relationship between the three variables supporting the endogeneity of energy consumption and real output these findings have important policy implications since the adoption of suitable structural policies aiming at improving economic efficiency can induce energy conservation without impeding economic growth

future demand of petroleum products in india this paper examines the long run equilibrium relationship between total petroleum products consumption and economic growth in india for the period 1970 1971 to 2001 2002 using cointegration and error correction modeling approach augmented dickey fuller tests reveal that both the series after logarithmic transformation are non stationary and individually integrated of order one the empirical results suggest that the series are cointegrated the long term demand elasticity for petroleum products has been estimated furthermore as a special case similar sort of exercise between the consumption of middle distillates and economic growth in india using annual data for the time span 1974 1975 to 2001 2002 has been carried out which also confirms the existence of cointegration in sample forecasts fitted well against actual numbers finally the paper forecasts total petroleum products and middle distillates demands till 2011 2012 and provide an idea about the investment required in refinery sector in india till 2011 2012

nonuniform bertrand competition the feasibility of bertrand undercutting with nonuniform prices is established and properties are derived for bertrand equilibrium in nonuniform price strategies with free entry equilibrium entails zero profit minimum average cost production if there is more than one producing firm all prices collapse to a minimum average cost uniform price an existence condition is compared to conditions from uniform price theory without free entry equilibrium prices may not collapse to a uniform price positive profit may occur but all firms earn equal profit and incur equal marginal cost while consumers pay average outlay no greater than marginal cost copyright 1992 by the econometric society

fees versus royalties and the private value of a patent we compare how much profit an owner of a patented cost reducing invention can realize by licensing it to an oligopolistic industry producing a homogeneous product by means of a fixed fee or a per unit royalty our analysis is conducted in terms of a noncooperative game involving n 1 players the inventor and the n firms in this game the inventor acts as a stackelberg leader and it has a unique subgame perfect equilibrium in pure strategies it is shown that licensing by means of a fixed fee is superior to licensing by means of a royalty for both the inventor and consumers only a drastic innovation is licensed to a single producer

oil development in china current status and future trends the future of oil has become an important topic of the discussion of energy policy in china this paper attempts to present a full picture of the current status and future trends of china s oil development through system analysis first we map a sankey diagram of china s oil flow to reveal the physical pattern of china s oil supply and consumption then we present the historical and ongoing trends of china s oil flow from key aspects such as oil demand oil resource availability technology improvement and policy adjustment based on these understandings we design three scenarios of china s oil demand in 2030 and analyze policy implications for oil saving automotive energy development and energy security from the analysis we draw some conclusions for policy decisions such as to control the total oil consumption to avoid energy security risks to enhance oil saving in all sectors with road transportation as the emphasis and to increase the investment on oil production and refining to secure oil supply and reduce emissions

general licensing schemes for a cost reducing innovation optimal combinations of upfront fees and royalties are considered for a cost reducing innovation in a cournot oligopoly for both outside and incumbent innovators it is shown that for any nondrastic innovation a the license is practically sold to all firms ensuring full diffusion of the innovation b consumers are better off firms are worse off and the social welfare is improved c the optimal licensing policy involves positive royalty for relatively significant innovations d compared to an incumbent firm an outsider invests more in r d and has higher incentive to innovate and e as a function of the magnitude of the innovation the industry size that provides the highest incentive to innovate is u shaped

the public perceptions and willingness to pay from the perspective of the smog crisis in china the deteriorating air quality which is linked to human actions related to energy resources has become an urgent global problem china s air pollution has reached the hazardous level since 2000s in consideration of the serious health and social problems residential demand for clean air is increasing this paper applies the contingent valuation method to estimate public s willingness to pay wtp for reducing air pollution in the urban area of china open ended scenarios through face to face surveys are used to elicit public s wtp the two part model is employed for the estimation the probit model is used to estimate the probability of respondents who have positive wtp values and the interval regression model is employed to estimate the specific wtp level of those with nonzero wtp values the results show that nearly 90 of the respondents are willing to pay for reducing air pollution and the average amount of wtp per individual is 382 6rmb per year household income is found to be positively correlated with people s wtp and those who trust the government are more willing to share the cost of reducing air pollution this study recommends designing some effective mechanisms to tap the potentially available source of money for smog mitigation and improving the transparency of smog governance to enhance the government credibility as solutions to cope with smog crisis

energy consumption and economic growth evidence from china at both aggregated and disaggregated levels using a neo classical aggregate production model where capital labor and energy are treated as separate inputs this paper tests for the existence and direction of causality between output growth and energy use in china at both aggregated total energy and disaggregated levels as coal oil and electricity consumption using the johansen cointegration technique the empirical findings indicate that there exists long run cointegration among output labor capital and energy use in china at both aggregated and all three disaggregated levels then using a vec specification the short run dynamics of the interested variables are tested indicating that there exists granger causality running from electricity and oil consumption to gdp but does not exist granger causality running from coal and total energy consumption to gdp on the other hand short run granger causality exists from gdp to total energy coal and oil consumption but does not exist from gdp to electricity consumption we thus propose policy suggestions to solve the energy and sustainable development dilemma in china as enhancing energy supply security and guaranteeing energy supply especially in the short run to provide adequate electric power supply and set up national strategic oil reserve enhancing energy efficiency to save energy diversifying energy sources energetically exploiting renewable energy and drawing out corresponding policies and measures and finally in the long run transforming development pattern and cut reliance on resource and energy dependent industries

an analysis of the driving forces of energy related carbon dioxide emissions in china s industrial sector abstract both energy consumption and the growth of carbon dioxide co2 emissions in china are attributed to the industrial sector energy conservation and co2 emissions reduction in china s industrial sector is decisive for achieving a low carbon transition we analyze the change of energy related co2 emissions in china s industrial sector from 1991 to 2010 based on the logarithmic mean divisia index lmdi method results indicate that industrial activity is the major factor that contributes to the increase of industrial co2 emissions while energy intensity is the major contributor to the decrease of co2 emissions industry size shows a varying trend interchanging intervals of growth along the study period moreover both energy mix and carbon intensity of energy use have negative effects on the increase of co2 emissions the cointegration method is adopted to further explore determinants of co2 emissions in china s industrial sector results show that there exists a long run relationship between industrial co2 emissions and affecting factors such as co2 emissions per unit of energy consumption industrial value added labor productivity and fossil fuel consumption china s industrial co2 emissions are mainly attributed to the coal dominated energy structure policy suggestions are thus provided to reduce industrial co2 emissions in china

estimation on oil demand and oil saving potential of china s road transport sector national social science foundation of china 12zd059 ministry of education 10gbj013 national natural science foundation of china 71203186 fundamental research funds for the central universities 2010221051 national science foundation for disting

how not to sell nuclear weapons we consider situations where a sale affects the ensuing interaction between potential buyers these situations are modeled by assuming that an agent who does not acquire the object for sale incurs an identity dependent externality we construct a revenue maximizing auction for the seller we observe that 1 outside options and participation constraints are endogenous 2 the seller extracts surplus also from agents who do not obtain the auctioned object 3 the seller is better off by not selling at all while obtaining some payments if externalities are much larger than valuations

energy consumption prices and economic growth in three ssa countries a comparative study in this paper we examine the causal relationship between energy consumption and economic growth in three sub saharan african countries namely south africa kenya and congo drc we incorporate prices as an intermittent variable in a bivariate setting between energy consumption and economic growth thereby creating a simple trivariate framework using the ardl bounds testing procedure we find that the causality between energy consumption and economic growth varies significantly across the countries under study the results show that for south africa and kenya there is a unidirectional causal flow from energy consumption to economic growth however for congo drc it is economic growth that drives energy consumption these findings have important policy implications insofar as energy conservation policies are concerned in the case of congo drc for example the implementation of energy conservation policies may not significantly affect economic growth because the country s economy is not entirely energy dependent however for south africa and kenya there is a need for more energy supply augmentations in order to cope with the long run energy demand in the short run however the two countries should explore more efficient and cost effective sources of energy in order to address the energy dependency problem

stock watson dynamic ols dols and error correction modelling approaches to estimating long and short run elasticities in a demand function new evidence and methodological implications from an application to the demand for coal in mainland china in this paper robust elasticity estimates of coal demand for china are derived using annual data 1953 92 in so doing we illustrate the use of a powerful yet practically convenient and recently developed modelling procedure devised by stock and watson known as dynamic ols dols who provide evidence based on monte carlo simulations of this estimator being superior in small samples compared to a number of alternative estimators as well as being able not only to accommodate higher orders of integration but also to account for possible simultaneity within regressors of a potential demand system furthermore cointegration and error correction methods are employed to derive short run price and income elasticities estimated results are quite robust not only in terms of statistical prowess but also in terms of economic intuition and indicate that over the long run both price and income elasticities are close to unity while short run price and income elasticities are less in absolute value than their long run counterparts there seems to be some divergence in short run parameters from a subsample analysis overall results seem to imply that for china coal consumption should remain relatively constant as future modernization strategies for economic development are pursued in addition the study has clear methodological implications for estimating the long and short run elasticities in a demand function in general and in a wide variety of fields in future applied research

electricity demand in kazakhstan properties of electricity demand in transition economies have not been sufficiently well researched mostly due to data limitations however information on the properties of electricity demand is necessary for policy makers to evaluate effects of price changes on different consumers and obtain demand forecasts for capacity planning this study estimates kazakhstan s aggregate demand for electricity as well as electricity demand in the industrial service and residential sectors using regional data firstly our results show that price elasticity of demand in all sectors is low this fact suggests that there is considerable room for price increases necessary to finance generation and distribution system upgrading secondly we find that income elasticity of demand in the aggregate and all sectoral models is less than unity of the three sectors electricity demand in the residential sector has the lowest income elasticity this result indicates that policy initiatives to secure affordability of electricity consumption to lower income residential consumers may be required finally our forecast shows that electricity demand may grow at either 3 or 5 per year depending on rates of economic growth and government policy regarding price increases and promotion of efficiency we find that planned supply increases would be sufficient to cover growing demand only if real electricity prices start to increase toward long run cost recovery levels and policy measures are implemented to maintain the current high growth of electricity efficiency

energy gdp relationship revisited an example from gcc countries using panel causality abstract this work investigates the causality relationship between gross domestic product gdp and energy consumption in the six countries of the gulf cooperation council gcc recently developed panel cointegration and causality techniques are used to uncover the direction of energy gdp causality in the gcc empirical results indicate a unidirectional causality running from gdp to energy consumption evidence shows no support for the hypothesis that energy consumption is the source of gdp growth in the gcc countries such results suggest that energy conservation policies may be adopted without much concern about their adverse effects on the growth of gcc economies

choosing the competition and patent licensing this article examines licensing as a means of choosing the competitors which a patentee monopolist will face in the period after the patent expires the queue of entrants consists of two firms which differ in their relative strengths as competitors for example by size or level of marginal cost by structuring the industry to be composed of weak competitors the incumbent is able to prolong its dominant position in the industry after the patent expires examples are presented in which the evidence suggests that choosing the competition was an important motivation of the licensor s behavior

renewable energy consumption and income in emerging economies abstract increased economic growth and demand for energy in emerging economies is creating an opportunity for these countries to increase their usage of renewable energy this paper presents and estimates two empirical models of renewable energy consumption and income for a panel of emerging economies panel cointegration estimates show that increases in real per capita income have a positive and statistically significant impact on per capita renewable energy consumption in the long term a 1 increase in real income per capita increases the consumption of renewable energy per capita in emerging economies by approximately 3 5 long term renewable energy per capita consumption price elasticity estimates are approximately equal to 0 70

the future of uk final user energy demand anticipation of final user energy demand is central to suppliers and policy makers plans recent developments in dynamic econometrics such as the cointegration approach have enabled energy modellers to study long run relationships between demand and its determinants principally economic activity and real prices the purpose of this paper is to present the seecem output elasticity estimates and forecasts using the cointegration approach as well as the methodology and analysis underlying them as economic activity is expected to grow in all but the iron and steel sector the long run relationships indicate that most sectors will increase overall fuel use up to the year 2000 despite weak but potentially volatile world oil prices and given stable environmental policies average real oil prices should remain broadly constant except in the transport sector economic activity elasticities and increased competition in supply industries imply that natural gas and electricity are likely to take an increasing share of final user requirements at the expense of petroleum products and coal this gradual and continued shift towards cleaner fuels is likely to ameliorate adverse environmental consequences resulting from the overall growth in final user fuel demand

econometric modelling of international carbon tax regimes an econometric model of fossil fuel demand has been estimated for eight oecd countries relating coal oil and gas demands to gdp and prices in addition a model of endogenous technical progress has been estimated aiming to include both price induced innovation in energy and structural change in the economy as long term determinants of energy consumption a number of possible international carbon energy tax agreements are simulated showing the impacts on carbon dioxide emissions and comparing the two models in the long run the magnitude of taxes required to stabilize or reduce emissions would be large and there are important differences between countries in price responses which must be taken into account in international modelling and policy formulation

price competition in a capacity constrained duopoly abstract this paper characterizes the set of nash equilibria in a model of price setting duopoly in which each firm has limited capacity and demand is continuous and decreasing in general there is a unique equilibrium so that comparative static exercises are meaningful the properties of the equilibrium conform with a number of stylized facts the equilibrium prices are lower the smaller is demand relative to capacity when demand is in an intermediate range the firms use mixed strategies they randomly hold sales if capacities are chosen simultaneously before prices the set of equilibrium capacities coincides with the set of cournot quantities

evaluation of electricity saving potential in china s chemical industry based on cointegration new huadu business school ministry of education foundation 10jzd0018 10gbj013 basic research universities special foundation 2010221051 national social science foundation 09zd050

optimal licensing of technology in the face of asymmetric competition abstract we reconsider the optimal technology licensing by an incumbent firm facing multiple competitors first we cover the case of one license and show that competition has a drastic effect on optimal two part tariffs we also consider license auctions and design a more profitable dynamic mechanism next we allow the licensor to award multiple licenses and design a dynamic mechanism that extracts the maximum industry profit it awards licenses to all firms prescribes maximum permitted royalty rates and positive fixed fees and is more profitable than other dynamic mechanisms finally we show that a slight modification of that mechanism is also optimal for outside patent holders

india s petroleum demand estimations and projections energy security is crucial for sustaining high economic growth in india this article empirically estimates india s long and short term demand relations for crude oil diesel and petrol gasoline using the ardl and ecm cointegration procedures and then uses them to project demand for these products up to 2025 under various scenarios of gdp growth and oil prices our projections show that over 2012 to 2025 demand is likely to increase by about 74 for crude oil 117 for diesel and 136 for petrol the annual growth rates being about 4 3 for crude oil 6 1 for diesel and 6 8 for petrol gasoline this article suggests that india needs to 1 take measures to improve efficiency in the use of petroleum products 2 try to enhance supplies such as through production sharing agreements by indian oil companies with other countries and 3 increase the use of nuclear hydro solar and other alternative energy sources as western european countries have done

metaanalisis de las elasticidades ingreso y precio de la demanda de energia algunas implicaciones de politica publica para america latina the aim of this paper is to analyze the variation in empirical estimates of the income and price elasticities of energy demand the evidence presented through a meta analysis allows identification of the weighted average of the income and price elasticities shows that the estimates are very heterogeneous that there is publication bias and that factors such as region energy sector among others affect its volatility the evidence also indicates that income elasticity in latin america is greater than in the oecd countries and that the price elasticity of energy demand is lower in latin america than in the oecd countries therefore continued economic growth in latin america will be accompanied by a growth in energy demand moreover the establishment of a tax in latin america under the current elasticities is less effective and will be insufficient to control the increase in energy consumption

welfare reducing licensing abstract in this paper we characterize situations where licensing a cost reducing innovation to a rival firm using two part tariff contracts a fixed fee plus a linear per unit of output royalty reduces social welfare we show that it occurs if i the firms compete in prices ii the innovation is large enough but not drastic and iii the goods are close enough substitutes moreover we show that regardless of the type of competition first the optimal contract always includes a positive royalty and second even drastic innovations are licensed whenever the goods are not homogeneous

an empirical analysis of electricity consumption in cyprus abstract the paper presents the first empirical analysis of electricity consumption in cyprus using annual data from 1960 to 2004 we have examined electricity use in the residential and the services sectors which are the fastest growing electricity consumers in the island and its interaction with income prices and the weather the analysis was performed with the aid of time series analysis techniques such as unit root tests with and without a structural break in levels cointegration tests vector error correction models granger causality tests and impulse response functions results show long term elasticities of electricity use above unity for income and of the order of 0 3 to 0 4 for prices in the short term electricity consumption is rather inelastic mostly affected by weather fluctuations granger causality tests confirm exogeneity of electricity prices and bidirectional causality between residential electricity consumption and private income the commercial sector is less elastic and reverts faster to equilibrium than the residential sector despite the relatively small sample size results reported here are quite robust and can be used for forecasts and policy analyses

helping minor firms reduces welfare the effect on national welfare of uneven technical progress and eli mination of a firm is analyzed under the existence of a cournot oligopolistic sector an increase in the share of an inefficient firm owing to its innovations results in a shift of production from more efficient firms to the inefficient firm causing a less efficie nt allocation of production it may decrease welfare even though the innovation itself is beneficial conversely policies keeping ineffic ient firms from innovations or eliminating them may increase welfare though they make the market structure more oligopolistic copyright 1988 by royal economic society

competitive two part tariffs as a response to differential rates of time preference the major focus of the nonlinear pricing literature has been to demonstrate how welfare in a monopoly can be improved through the use of a nonlinear payment schedule however nonlinear prices arise in many different markets this paper explores nonlinear price equilibria in which both multiple firms and price schedules exist these outcomes are driven by the use of a sustainability criterion for equilibrium and differential rates of discount as the motivating force for the formation of nonlinear prices copyright 1991 by the london school of economics and political science

electricity consumption and economic growth in south africa a trivariate causality test abstract in this paper we examine the causal relationship between electricity consumption and economic growth in south africa we incorporate the employment rate as an intermittent variable in the bivariate model between electricity consumption and economic growth thereby creating a simple trivariate causality framework our empirical results show that there is a distinct bidirectional causality between electricity consumption and economic growth in south africa in addition the results show that employment in south africa granger causes economic growth the results apply irrespective of whether the causality is estimated in the short run or in the long run formulation the study therefore recommends that policies geared towards the expansion of the electricity infrastructure should be intensified in south africa in order to cope with the increasing demand exerted by the country s strong economic growth and rapid industrialisation programme this will certainly enable the country to avoid unprecedented power outages similar to those experienced in the country in mid january 2008

econometric modeling of electricity consumption in post war lebanon this paper applies econometric models to investigate determinants of electrical energy consumption in post war lebanon the impact of the gross domestic product gdp proxied by total imports ti and degree days dd on electricity consumption is investigated over different time spans covering the period from 1993 to 1997 the time spans are chosen according to the rationing level of electricity supply for the 1993 1994 time span ti is found to be a significant determinant of energy consumption whereas dd has a negative correlation this inconsistency might be attributed to an extensive rationing policy followed during this period for the 1995 1997 time span which includes reduced rationing period 1995 all electrical energy consumption determinants are found to be significant at the 5 significance level analysis results for the rationing free 1996 1997 time span also show the significance of ti and dd at the 5 level furthermore cointegration analysis for the 1995 1997 and 1996 1997 subsets reveals the existence of a long run relationship between all variables in addition error correction models for both subsets are developed to predict short run dynamics finally statistical performance measures such as mean square error mean average deviation and mean average percentage error are presented for all models

short and long run demand for energy in mexico a cointegration approach abstract the objective of this paper is to estimate the demands for the different types of energy consumption for the mexican economy over the period 1965 2001 these demands are modeled as a function of output and the own real price the johansen j econ dynamics control 12 1988 231 procedure and the likelihood ratio tests indicate the existence of long run and stable relationships between each type of energy demand and income with the exception of the industrial sector where the cointegrating vector also includes the relative prices the weak exogeneity tests indicate that energy consumption and income do not reject the null hypothesis of weak exogeneity when relative prices are weak exogenous the final econometric models show that relative prices in the short run are relevant in all cases with the exception of the residential sector these results indicate that in mexico the demand for energy is fundamentally driven by income and that the effect of the relative prices is basically concentrated on the short run with the exception of the industrial sector which also shows a long term price impact the strong dependence of energy consumption with respect to income and the price inelastic response indicates that it is necessary to introduce strong measures to decouple energy consumption from output in order to obtain sustainable economic growth in mexico

temptation self control and competitive nonlinear pricing abstract standard pricing theories consider consumers without temptation with temptation and costly self control consumers dislike choice sets with tempting alternatives we study firms strategy against such consumers using gul pesendorfer preferences and a game where firms compete by offering menus

on two part tariff competition in a homogeneous product duopoly abstract we explore aspects of two part tariff competition between duopolists providing a homogeneous service when consumers differ with respect to their usage levels competition in only one price component the fee or the rate may allow both firms to enjoy positive profits if the other price component has been set at levels different enough between firms fixing one price component alters the nature of competition indirectly introducing an element of product differentiation endogenous market segmentation emerges with the heavier users choosing the lower rate firm and the lighter users choosing the lower fee firm when no price component can be negative competition becomes softer profits tend to be higher but there is also a disadvantage for the firm that starts with a higher fee than that of its rival

energy and national income in korea further evidence on the role of omitted variables abstract results of this paper indicate that the real oil price is a major determinant of real national income and energy consumption the combined effects of real money and real government expenditure on real income and energy consumption are also substantial a lack of causality or the causality between energy and real income in prior studies is due to the omitted variables results also confirm that the two oil price shocks combined adversely affected real national income

prospects of india s energy and emissions for a long time frame abstract for any nation sector wise forecasts of energy demand and emissions are becoming valuable elements in devising its national and international policies relating to energy security local environment and global climate change it is in this context that this work attempts to forecast india s possible energy demands and emissions adopting a key indicator approach on least cost generation expansion optimization methodology for a long time frame this study developed key indicators for useful energy demand for end use sectors such as industry commerce and residence key indicators for transport sector and non energy use sectors were developed on transport mobility demand and end use fuel demand the main drivers of these key indicators are socio economic parameters this work was conducted in a linear programmed lp times g5 model on times modeling framework for model horizon of 1990 2100 by the end of the 21st century india s energy demands are projected to be about 1825 mtoe of primary energy 1263 mtoe of final energy consumption 4840 twh of electricity generations 723 mtoe of energy import and 4414 mt of co2 emissions

electricity consumption and economic growth in china cointegration and co feature analysis abstract this paper applies the cointegration theory to examine the causal relationship between electricity consumption and real gdp gross demostic product for china during 1978 2004 our estimation results indicate that real gdp and electricity consumption for china are cointegrated and there is only unidirectional granger causality running from electricity consumption to real gdp but not the vice versa then hodrick prescott hp filter is applied to decompose the trend and fluctuation component of the gdp and electricity consumption series the estimation results indicate that there is cointegration between not only the trend components but also the cyclical components of the two series which implies that the granger causality is probably related with the business cycle the estimation results are of policy implication to the development of electric sector in china

determinants of china s energy imports an empirical analysis sustained economic growth in china has triggered a surge of energy imports especially oil imports this paper investigates the determinants of china s energy import demand by using cointegraiton and vecm techniques the findings suggest that in the long run growth of industrial production and expansion of transport sectors affect china s oil imports while domestic energy output has a substitution effect thus as the chinese economy industrializes and the automotive sector expands china s oil imports are likely to increase though china s domestic oil production has a substitution effect on imports its growth is limited due to scarce domestic reserve and high exploration costs it is anticipated that china will be more dependent on overseas oil supply regardless of the world oil price

renewable energy consumption co2 emissions and oil prices in the g7 countries abstract economic and societal issues related to energy security and global warming is placing greater emphasis on the consumption of renewable energy this paper presents and estimates an empirical model of renewable energy consumption for the g7 countries panel cointegration estimates show that in the long term increases in real gdp per capita and co2 per capita are found to be major drivers behind per capita renewable energy consumption these results are robust across two different panel cointegration estimators oil price increases have a smaller although negative impact on renewable energy consumption deviations from equilibrium are driven mostly by the error correction term as opposed to short term shocks short term deviations from the long term equilibrium take anywhere from between 1 3 years france and 7 3 years japan to correct

fee versus royalty reconsidered for an outsider innovator in a cournot oligopoly royalty licensing could be superior to both fixed fee and auction the result depends on a simple fact that has been overlooked in the existing literature namely the number of licenses can take only integer values

short and long run effects between oil consumption and economic growth in china this paper examines both the equilibrium relationship and the predictability between oil consumption and economic growth in china time series variables are employed in empirical tests cointegration tests suggest that these two variables tend to move together in the long run in addition granger causality tests indicate that oil consumption could be a useful factor that forecasts changes in the economy in the short run as well as in the long run the oil consumption is found to have great effects on the economy this is because the enormous use of oil in sectors like the industry may have directly pushed the economy however this finding would probably stimulate faster growth in oil consumption and so should be concerned with care conversely economic growth could be used as a predictive factor forecasting oil consumption only in the long run economic growth appears to have small effects on oil use this could be attributed largely to china s energy consumption structure coal constitutes most of the energy consumption and thus the considerable demand for energy resulting from rapid economic growth could be mostly explained by the mass use of coal

estimating short and long term residential demand for electricity new evidence from sri lanka this study investigates the short run dynamics and long run equilibrium relationship between residential electricity demand and factors influencing demand per capita income price of electricity price of kerosene oil and price of liquefied petroleum gas using annual data for sri lanka for the period 1960 2007 the study uses unit root cointegration and error correction models the long run demand elasticities of income own price and price of kerosene oil substitute were estimated to be 0 78 0 62 and 0 14 respectively the short run elasticities for the same variables were estimated to be 032 0 16 and 0 10 respectively liquefied petroleum lp gas is a substitute for electricity only in the short run with an elasticity 0 09 the main findings of the paper support the following 1 increasing the price of electricity is not the most effective tool to reduce electricity consumption 2 existing subsidies on electricity consumption can be removed without reducing government revenue 3 the long run income elasticity of demand shows that any future increase in household incomes is likely to significantly increase the demand for electricity and 4 any power generation plans which consider only current per capita consumption and population growth should be revised taking into account the potential future income increases in order to avoid power shortages ill the country

energy consumption and gdp in turkey is there a co integration relationship energy consumption and gdp are expected to grow by 5 9 and 7 annually until 2025 in turkey this paper tries to unfold the linkage between energy consumption and gdp by undertaking a co integration analysis for turkey with annual data over the period 1970 2003 the analysis shows that energy consumption and gdp are co integrated this means that there is a possibly bi directional causality relationship between the two we establish that there is a unidirectional causality running from gdp to energy consumption indicating that energy saving would not harm economic growth in turkey in addition we find that energy consumption keeps on growing as long as the economy grows in turkey

a panel cointegration analysis of the demand for oil in the middle east this article applies recently developed panel unit root and panel cointegration techniques to estimate the long run income and price elasticities for oil in the middle east the results for the panel indicate that demand for oil is highly price inelastic and slightly income elastic in the middle east there is considerable variation in the results for the income variable across countries with the coefficient on the income variable statistically insignificant for several countries the coefficient on the price variable is statistically significant in all cases with the expected sign and the price elasticity is uniformly low while the results for the income variable differ across countries the results for the panel as a whole suggest that the demand for oil in the middle east is being driven largely by strong economic growth while consumers are largely insensitive to price changes

quantity competition with access fees abstract we analyze an oligopoly model where firms choose both quantities and access fees per unit prices are determined endogenously to equate quantity demanded with quantity supplied at each firm in a nash equilibrium of the game played by firms the per unit prices equal marginal cost and access fees may or may not extract all consumer surplus as the number of firms increases access fees fall below net consumer surplus and toward zero existence is guaranteed if marshallian consumer surplus is not too concave with open entry quantity competition with access fees may be less efficient than without access fees

price and income elasticities of crude oil import demand in south africa a cointegration analysis abstract this paper examines the demand for imported crude oil in south africa as a function of real income and the price of crude oil over the period 1980 2006 we carried out the johansen co integration multivariate analysis to determine the long run income and price elasticities a unique long run cointegration relationship exists between crude oil imports and the explanatory variables the short run dynamics are estimated by specifying a general error correction model the estimated long run price and income elasticities of 0 147 and 0 429 suggest that import demand for crude oil is price and income inelastic there is also evidence of unidirectional long run causality running from real gdp to crude oil imports

energy consumption and economic growth new insights into the cointegration relationship abstract this paper examines the long run relationship between energy consumption and real gdp including energy prices for 25 oecd countries from 1981 to 2007 the distinction between common factors and idiosyncratic components using principal component analysis allows to distinguish between developments on an international and a national level as drivers of the long run relationship indeed cointegration between the common components of the underlying variables indicates that international developments dominate the long run relationship between energy consumption and real gdp furthermore the results suggest that energy consumption is price inelastic causality tests indicate the presence of a bi directional causal relationship between energy consumption and economic growth

energy consumption real income and temporal causality results from a multi country study based on cointegration and error correction modelling techniques abstract unlike previous studies on the causal relationship between energy consumption and economic growth this paper illustrates how the finding of cointegration i e long term equilibrium relationship between these variables may be used in testing granger causality based on the most recent johansen s multivariate cointegration tests preceded by various unit root or non stationarity tests we test for cointegration between total energy consumption and real income of six asian economies india pakistan malaysia singapore indonesia and the philippines non rejection of cointegration between variables rules out granger non causality and imples at least one way of granger causality either unidirectional or bidirectionial secondly by using a dynamic vector error correction model we then analyse the direction of granger causation and hence the within sample granger exogeneity or endogeneity of each of the variables thirdly the relative strength of the causality is gauged through the dynamic variance decomposition technique by decomposing the total impact of an unanticipated shock to each of the variables beyond the sample period into proportions attributable to shocks in the other variables including its own in the bivariate system results based on these tools of methodology indicate that while all pair wise relationships shared common univariate integrational properties only relationships for three countries india pakistan and indonesia were cointegrated for these countries temporal causality results were mixed with unidirectional causality from energy to income for india exactly the reverse for indonesia and mutual causality for pakistan the vdcs were not inconsistent with these results and provided us with an additional insight as to the relatively more dominant direction of causation in pakistan simple bivariate vector autoregressive models for the three non cointegrated systems did not indicate any direction of causality significantly in either direction

choosing a licensee from heterogeneous rivals we examine a rm that can license its production technology to a rival when rms are heterogeneous in production costs we show that a complete technology transfer from one rm to another always increases joint pro t under weakly concave demand when at least three rms remain in the industry a jointly pro table transfer may reduce social welfare although a jointly pro table transfer from the most e cient rm always increases welfare we also consider two auction games under complete information a standard rst price auction and a menu auction by bernheim and whinston 1986 with natural re nement of equilibria we show that the resulting licensees are ordered by degree of e ciency menu auction simple auction and joint pro t maximizing licensees in weakly descending order

estimating energy conservation potential in china s energy intensive industries with rebound effect abstract the energy consumption of china s six most energy intensive sub industries is about half of the total national energy consumption and accounts for more than 70 of industrial energy consumption in recent years these six industries are capital and energy intensive and have a great impact on the energy consumption of china so they are directly related to the achievement of the energy conservation goal in the 13th five year plan this paper investigates the influential factors of energy consumption in the industries by employing the cointegration method and estimates the possible energy conservation potential considering energy rebound effect the results show that gdp and the scale of industries are the deterministic factors increasing energy consumption while r d intensity decreases it energy price has little impact on energy consumption the average energy rebound effect is calculated using the latent variable approach and the result is 90 75 considering energy rebound effect the energy conservation potential of china s energy intensive industries is 14 18 26 54 million tons of standard coal equivalent in 2020 and 44 64 80 72 million tons of standard coal equivalent in 2030

estimates of energy subsidies in china and impact of energy subsidy reform abstract for a transitional economy such as china some energy subsidies are reasonable and sometimes even necessary for achieving social goals however with rising energy prices and environmental concerns we see conflicts emerging between energy subsidies energy demand supply fundamentals and climate change considerations energy subsidies have important implications for sustainable development through their effects on energy use efficiency and the choice of fuel source this paper applies the price gap approach to estimate china s energy subsidies results indicate that china s energy subsidies amounted to cny 356 73 billion in 2007 equivalent to 1 43 of gdp subsidies for oil products consumption are the largest followed by subsidies for the electricity and coal sectors furthermore a cge model is used to analyze the economic impacts of energy subsidy reforms our findings show that removing energy subsidies will result in a significant fall in energy demand and emissions but will have negative impacts on macroeconomic variables we conclude that offsetting policies could be adopted such that certain shares of these subsidies are reallocated to support other sustainable development measures which could lead to reducing energy intensity and favoring the environment

nonlinear pricing of information goods this paper analyzes optimal pricing for information goods under incomplete information when both unlimited usage fixed fee pricing and usage based pricing are feasible and administering usage based pricing may involve transaction costs it is shown that offering fixed fee pricing in addition to a nonlinear usage based pricing scheme is always profit improving in the presence of nonzero transaction costs and there may be markets in which a pure fixed fee is optimal this implies that the optimal pricing strategy for information goods is almost never fully revealing moreover it is proved that the optimal usage based pricing schedule is independent of the value of the fixed fee a result that simplifies the simultaneous design of pricing schedules considerably and provides a simple procedure for determining the optimal combination of fixed fee and nonlinear usage based pricing the introduction of fixed fee pricing is shown to increase both consumer surplus and total surplus the differential effects of setup costs fixed transaction costs and variable transaction costs on pricing policy are described these results suggest a number of managerial guidelines for designing pricing schedules for instance in nascent information markets firms may profit from low fixed fee penetration pricing but as these markets mature the optimal pricing mix should expand to include a wider range of usage based pricing options minimum fees quantity discounts and adoption levels across the different pricing schemes are characterized strategic pricing responses to changes in market characteristics are described and the implications of the paper s results for bundling and vertical differentiation of information goods are discussed

asymmetric oligopoly and technology transfers using a simple cournot model this paper shows that 1 if technologies are perfectly replicable then a lower cost firm has always an incentive to transfer its technology and as a result a fully asymmetric oligopoly can never be a noncooperative nash equilibrium 2 as a technology transfer between any two firms can always be disrupted by some other firm the cournot game cum technology transfer has no noncooperative nash equilibria in pure strategies and 3 there exi st nonlinear transfer payments that sustain the fully collusive outcome as an noncooperative nash equilibrium even in a finitely repeated game copyright 1993 by royal economic society

electricity demand analysis and forecasting a panel cointegration approach abstract this article analyzes the demand for electricity and provides out of sample forecasting at the sectoral level using a panel cointegration approach the econometric model permits cross sectional heterogeneity within a dynamic framework that incorporates information on relevant income and prices of domestic and foreign goods both the short run dynamics and the long run slope coefficients are allowed to vary across cross sections also the testing for unit roots and cointegration in panels allows for heterogeneous fixed effects and deterministic trends using egyptian data it is shown that the empirical model produces reliable ex post forecasts near the end of the full sample period these pseudo forecasts are representative of what one would expect if the forecasting relationship is stationary the long run parameter estimates are then used to conduct ex ante forecasting under plausible assumptions for policy making

rationing rules and bertrand edgeworth equilibria in large markets abstract in a market with concave downward sloping demand and symmetric firms which compete in prices with constant marginal costs and capacity limits it is shown that the supports of the symmetric mixed strategy nash equilibria converge to the unique competitive price provided that unsatisfied demand is allocated according to the surplus maximizing rationing rule

energy models for demand forecasting a review abstract energy is vital for sustainable development of any nation be it social economic or environment in the past decade energy consumption has increased exponentially globally energy management is crucial for the future economic prosperity and environmental security energy is linked to industrial production agricultural output health access to water population education quality of life etc energy demand management is required for proper allocation of the available resources during the last decade several new techniques are being used for energy demand management to accurately predict the future energy needs in this paper an attempt is made to review the various energy demand forecasting models traditional methods such as time series regression econometric arima as well as soft computing techniques such as fuzzy logic genetic algorithm and neural networks are being extensively used for demand side management support vector regression ant colony and particle swarm optimization are new techniques being adopted for energy demand forecasting bottom up models such as markal and leap are also being used at the national and regional level for energy demand management

short and long run elasticities in us residential electricity demand a co integration approach abstract co integration techniques show promise in the analysis of short and long run effects of economic variables on energy use we use these techniques to develop an error correction model of annual us residential electricity demand we construct equipment stock indices and estimate the model for 1949 1993 our analysis suggests a structural shift in consumption during the 1960s we discuss reasons for this shift report the short and long run elasticities provide forecasts for 1994 1995 and compare the model s forecasts with other published forecasts

modeling of industrial energy consumption an introduction and context industrial energy accounts for roughly one third of total global energy consumption and is expected to continue to use a similar share in the foreseeable future however this is one of the hardest end uses to analyze model and forecast the reasons for modeling industrial energy consumption are as varied as the ways in which energy is used in production processes this has led to the application of a broad set of emperical tools from several different disciplines in this article we provide an introduction and context for a compendium or survey of the methods used in this area this special issue of energy economics is designed to provide both newcomers and accomplished researchers with an overview of the current state of development in the are of industrial energy modeling

short and long run elasticities of gasoline demand in india an empirical analysis using cointegration techniques abstract in developing countries like india consumption of petroleum products has implications on its balance of payments economic growth and fiscal deficit gasoline is one of the prime petroleum products in this paper the relationship between gasoline demand national income and price of gasoline is empirically examined using cointegration and error correction techniques the time frame of the analysis is from 1972 1973 to 1993 1994 it has been found that gasoline demand is likely to increase significantly for a given increase in the gross domestic product the increase will be larger in the long run 2 682 than in the short run 1 178 gasoline demand is relatively inelastic to price changes both in the long and short terms the error correction model has shown that gasoline demand adjusts to their respective long run equilibrium at a relatively slow rate with about 28 of adjustment taking place in the first year

electricity consumption in g7 countries a panel cointegration analysis of residential demand elasticities this article applies recently developed panel unit root and panel cointegration techniques to estimate the long run and short run income and price elasticities for residential demand for electricity in g7 countries the panel results indicate that in the long run residential demand for electricity is price elastic and income inelastic the study concludes that from an environmental perspective there is potential to use pricing policies in the g7 countries to curtail residential electricity demand and thus curb carbon emissions in the long run

divisionalization franchising and divestiture incentives in oligopoly a two stage game is used to model firms strategic incentives to divide production among autonomous competing units through divisionalization franchising or divestiture firms simultaneously choose their number of competing units which then engage in cournot competition while it is costly to form autonomous units each firm does so in equilibrium thus reducing firm profits and increasing social welfare relative to the case where firms cannot form competing units with linear demand and costs duopolists choose the socially optimal number of competing units oligopolies with larger numbers of firms choose too many the case of nonlinear demand is also examined copyright 1996 by american economic association

electricity demand and conservation potential in the chinese nonmetallic mineral products industry newhuadu business school research fund ministry of education foundation 10jzd0018 10jbg013 china sustainable energy program g 1103 13921 national social science foundation 09zd050

uncertain demand consumer loss aversion and flat rate tariffs we consider a model of firm pricing and consumer choice where consumers are loss averse and uncertain about their future demand possibly consumers in our model prefer a flat rate to a measured tariff even though this choice does not minimize their expected billing amount a behavior in line with ample empirical evidence we solve for the profit maximizing two part tariff which is a flat rate if a marginal costs are not too high b loss aversion is intense and c there are strong variations in demand moreover we analyze the optimal nonlinear tariff this tariff has a large flat part when a flat rate is optimal among the class of two part tariffs

a characterization for the negative welfare effects of cost reduction in cournot oligopoly abstract this paper characterizes the welfare effects of cost reductions in a cournot model with linear costs under linear demand a small reduction in a firm s marginal cost reduces welfare if and only if its market share is less than 1 2n 2 or equivalently its marginal cost exceeds a critical level determined by the market a large cost reduction by the firm increases welfare if and only if its magnitude is at least twice the difference between the current marginal cost and its critical value the paper also extends the results to non linear demand but the characterizations become less tractable

how to license intangible property we examine the optimal licensing strategy of a research lab selling to firms who are product market competitors we consider an independent lab as well as a research joint venture we show that 1 demands are interdependent and hence the standard price mechanism is not the profit maximizing licensing strategy 2 the seller s incentives to develop the innovation may be excessive 3 the seller s incentives to disseminate the innovation typically are too low 4 larger ventures are less likely to develop the innovation and more likely to restrict its dissemination in those cases where development occurs and 5 a downstream firm that is not a member of the research venture is worse off as a result of the innovation

structural breaks energy consumption and economic growth revisited evidence from taiwan abstract this paper studies the stability between energy consumption and gdp for taiwan during 1954 2003 we use aggregate as well as various disaggregate data of energy consumption including coal oil gas and electricity to employ the unit root tests and the cointegration tests allowing for structural breaks our main findings are first though gas consumption seems to have structural breaks in the 1960s after considering the structural breaks the series is a stationary variable when taiwan adopted its expansionary export trade policy second we find that different directions of causality exist between gdp and various kinds of energy consumption the empirical result shows unanimously in the long run that energy acts as an engine of economic growth and that energy conservation may harm economic growth third the cointegration between energy consumption and gdp is unstable and some economic events may affect the stability overall we do find the structural breakpoints and they look to match clearly with the corresponding critical economic incidents

integrated assessment of global climate change with learning by doing and energy related research and development this paper presents a small scale version of an integrated assessment model iam of global climate change which is based on a global regionally differentiated computable general equilibrium cge model with endogenous technological change this model can be viewed as a basic framework for analyzing a broad range of economic issues related to climate change in particular since technological change is represented in two ways on the one hand there is learning by doing lbd in non fossil energy supply technologies and on the other hand there is research and development r d driven energy saving technical progress in production computational experiments are added for illustrating the role of technological innovation in a world both with and without cooperation in the solution of the global climate problem

the role of globalization on the recent evolution of energy demand in india implications for sustainable development using annual data for the period 1971 2012 this study explores the relationship between globalization and energy consumption for india by endogenizing economic growth financial development and urbanization the cointegration test proposed by bayer hanck 2013 is applied to estimate the long run and short run relationships among the variables after confirming the existence of cointegration the overall results from the estimation of an ardl energy demand function reveal that in the long run the acceleration of globalization measured in three dimensions economic social and overall globalization leads to a decline in energy demand in india furthermore while financial development is negatively related to energy consumption economic growth and urbanization are the key factors leading to increased energy demand in the long run these results have policy implications for the sustainable development of india in particular globalization and financial development provide a win win situation for india to increase its economic growth in the long run and become more environmentally sustainable

bertrand edgeworth equilibrium with a large number of firms abstract we examine a model of price competition with strictly convex costs where the firms simultaneously decide on both price and quantity are free to supply less than the quantity demanded and there is discrete pricing if firms are symmetric then for a large class of residual demand functions there is a unique equilibrium in pure strategies whenever for a fixed grid size the number of firms is sufficiently large moreover this equilibrium price is within a grid unit of the competitive price the results go through to a large extent when the firms are asymmetric or they are symmetric but play a two stage game and the tie breaking rule is weakly manipulable