Suchergebnisse

The relationship among rice yield and weather variables in Korea is explored using a stochastic production function. The results reveal that average rice yield is positively related to temperature and negatively associated with precipitation. Both temperature and precipitation, which are risk-increasing inputs, are positively related to rice yield variability. The widened yield variability can be transferred to the fluctuation of rice production and rice price instability. Larger market risk is expected in the future since both temperature and precipitation are anticipated to increase. An evaluation of climate change impact on rice yield variability reveals that it may increase by up to 10%~20%. Reducing yield variability and managing market risk would be the primary goals of the government's farm policy and research.

Numerous studies have investigated the dynamic interrelationship between carbon emission trading market and energy markets. Previous studies focused on the European Union Emissions Trading Scheme ascertain that carbon market and energy markets are closely attached, and find that electricity market is the main driver of the system. Our research on U.S. Regional Greenhouse Gas Initiative (RGGI) using Lag Augmented Vector Autoregression reveals that the RGGI market and electricity market in the region are tied but not strongly, unlike the EU-ETS. This loose relationship between the two markets might be explained by the recent weak carbon credit demand stemming from fuel switching and low electricity demand. Another finding is that natural gas is the main driver of the RGGI system, which is possibly due to from the recent shale gas boom.

AbstractThis paper investigates the role of additional regulation in mitigating the 'adverse scale effect' associated with daily driving restrictions, which has become a popular regulatory tool used to control episodic air pollution internationally, especially in developing countries. We find that although an annual vehicle registration tax reduces the incentive to purchase additional vehicles among households whose sole purpose for doing so is to 'cheat' the restriction (i.e., the 'adverse scale effect'), it does so with an external cost. The cost occurs because households whose purpose for purchasing an additional vehicle is not to cheat the restriction are given the same disincentive with the tax. We show how simple one- and two-stage lotteries can be used to not only discriminate between cheater and non-cheater households (in particular, to avoid providing a disincentive to the latter type of household), but also to provide an even stronger disincentive to the former.

Often public works are made with little if any concern for risk. Analysis of public works investments especially during the 1990s and 2000s assumed rapid employment growth would continue into the future. However, with the "Great Recession," the assumption of continued high employment growth, and the absence of risk considerations in public works investments, a number of local government bankruptcies occurred. Public works decision makers must aim to identify public works investments that not only have the highest positive net returns under average conditions but also yield highest net returns under unfavorable conditions. This article discusses the incorporation of risk into public works investments and the use of Monte Carlo simulation to complete a standard investment or public works appraisal. The article completes an investment appraisal of a material recovery facility (MRF) system and discusses how risk could be addressed and analyzed by public decision makers.

Often public works are made with little if any concern for risk. Analysis of public works investments especially during the 1990s and 2000s assumed rapid employment growth would continue into the future. However, with the "Great Recession," the assumption of continued high employment growth, and the absence of risk considerations in public works investments, a number of local government bankruptcies occurred. Public works decision makers must aim to identify public works investments that not only have the highest positive net returns under average conditions but also yield highest net returns under unfavorable conditions. This article discusses the incorporation of risk into public works investments and the use of Monte Carlo simulation to complete a standard investment or public works appraisal. The article completes an investment appraisal of a material recovery facility (MRF) system and discusses how risk could be addressed and analyzed by public decision makers.

Mobility remains a vital part of the well-being of rural-living, older adults and transportation disadvantaged persons. This study seeks to identify research and policy needs related to rural transit for older people and the transportation disadvantaged. To obtain this goal, the multidisciplinary study team conducted two activities as part of a 2016 rural transportation conference: a survey of conference attendees and open discussion to elicit additional information. Results suggest the attendees felt the need for rural transit for older adults would continue to increase with public and private funding being critical issues. Respondents had similar opinions about challenges and opportunities across socioeconomic characteristics including age, gender, political leaning, rurality, and organizational function. This suggests an opportunity to mobilize support for public transportation.