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Browsing Working Papers by Title

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  • Berndt, Ernst R.; Friedlaender, Ann Fetter; Wang Chiang, Judy S. (MIT Center for Energy and Environmental Policy Research, 1990)
    In this paper we show how to adapt the traditional contingent claims valuation techniques to correctly value the firm and its liabilities in the presence of agency costs. This enables us to measure the significance of the ...
  • L'Hegaret, Guillaume; Siliverstovs, Boriss; Hirschhausen, Christian von (MIT Center for Energy and Environmental Policy Research, 2004)
    We examine the degree of natural gas market integration in Europe, North America and Japan, between the mid 1990₂s and 2002. Our hypothesis is that there was a certain split of prices between Europe and North America. The ...
  • Margolis, Robert M. (MIT Center for Energy and Environmental Policy Research, 1992)
    This paper discusses how two sets of emissions scenarios, generated using the Atmospheric Stabilization Framework, were used by the United Nations Intergovernmental Panel on Climate Change (IPCC). In particular it discusses ...
  • Bailey, Elizabeth M. (MIT Center for Energy and Environmental Policy Research, 1998)
    The Clean Air Act Amendments of 1990 initiated the first large-scale use of the tradable permit approach to pollution control. The theoretical case for this approach rests on the assumption of an efficient market for ...
  • Finon, Dominique (MIT Center for Energy and Environmental Policy Research, 2002)
    The introduction of market rules in a electricity supply industry characterized by a vertically integrated monopoly and public ownership is not inherently doomed to failure if characteristics of the reform or other elements ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1990)
    I examine the behavior of inventories and their role in the short-run dynamics of commodity production and price. Competitive producers of a storable commodity react to price changes by balancing costs of changing production ...
  • Metcalf, Gilbert E. (MIT Center for Energy and Environmental Research Policy, 2009-10)
    Federal tax policy provides a broad array of incentives for energy investment. I review those policies and construct estimates of marginal effective tax rates for different energy capital investments as of 2007. Effective ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1992)
    I study irreversible investment decisions when projects take time to complete, and are subject to two types of uncertainty over the cost of completion. The first is technical uncertainty, i.e., uncertainty over the amount ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1999)
    The Standard framework in which economists evaluate environmental policies is cost-benefit analysis, so policy debates usually focus on the expected flows of costs and benefits, or on the choice of discount rate. But this ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1990)
    The explanation of aggregate and sectoral investment behavior has been one of the less successful endeavors in empirical economics. Existing econometric models have had little success in explaining or predicting investment ...
  • Brooks, Eileen L. (MIT Center for Energy and Environmental Policy Research, 1994)
    This paper incorporates an option value into deforestation policy analysis. Similar to an option value in finance, the option value here reflects the advantage to delaying irreversible species extinction until more information ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1990)
    Most investment expenditures have two important characteristics. First, they are largely irreversible; the firm cannot disinvest, so the expenditures are sunk costs. Second, they can be delayed, allowing ...
  • Poterba, James M. (MIT Center for Energy and Environmental Policy Research, 1990)
    Claims of the regressivity of gasoline taxes typically rely on annual surveys of consumer income and expenditures which show that gasoline expenditures are a larger fraction of income for very low income households than ...
  • Atkeson, Erica (MIT Center for Energy and Environmental Policy Research, 1997.)
    The United Nation's Framework Convention on Climate Change (FCCC), signed by more than 150 nations in June 1992, commits signatory countries to limit greenhouse gas (GHG) emissions to 1990 levels by the year 2000. Article ...
  • Eckaus, Richard S. (MIT Center for Energy and Environmental Policy Research, 1992)
    The use of the atmosphere as a dumping place for greenhouse gases has been a matter of laissez faire. Proposals for international agreement to restrict the rate of such emissions are, in effect, proposals for collectively ...
  • Ellerman, A. Denny (MIT Center for Energy and Environmental Policy Research, 2003)
    This paper provides preliminary answers to four questions concerning the behavior of agents operating under the SO2 Allowance Trading Program that could not be adequately answered until several years' data on compliance ...
  • Greenstone, Michael (MIT Center for Energy and Environmental Policy Research, 2011-06-01)
  • Eckaus, Richard S. (MIT CEEPR, 2012-05-21)
    Though the facts of global climate change are beyond doubt, there has been relatively limited information about its local consequences. Global climate models and their derivatives have provided often differing and unspecific ...
  • Pindyck, Robert S. (MIT Center for Energy and Environmental Policy Research, 1999)
    I examine the long-run behavior of oil, coal, and natural gas prices, using up to 127 years of data, and address the following questions: What does over a century of data tell us about the stochastic dynamics of price ...
  • Neumann, Anne; Hirschhausen, Christian von (MIT Center for Energy and Environmental Policy Research, 2006)
    In this paper, we analyze structural changes in long-term contracts in the international trade of natural gas. Using a unique data set of 262 long-term contracts between natural gas producers and importers, we estimate the ...
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