1,720,966 research outputs found
Searching for a Carbon Laffer Curve: Estimates from the European Union Emissions Trading System
No full textCarbon prices have grown remarkably in the European Union (EU) Emissions Trading System (ETS) in recent years, raising distributional concerns. Revenues are expected to grow with higher carbon prices, thus providing resources to address distributional issues. Beyond a certain point, however, higher prices can discourage the purchase of allowances and ultimately reduce revenues, describing a Carbon Laffer Curve (CLC). We empirically investigate the CLC in the EU ETS between 2012 and 2021 using auction revenues at the country level. Results indicate that ETS revenues follow an inverted‐U relationship in both the volume and the price of auctioned allowances, with an estimated optimal price between 86 and 125 euros
Material governance and circularity policies: How waste policies and innovation affect household appliances' accumulation
No full textThis paper investigates the macro-economic drivers of accumulation and recycling of material capital from in-use Stock of a class of durable goods: Electrical and Electronic Equipment. This category is relevant for the European policy's objectives for its content of critical raw materials and its relevance in the Digital Agenda. A theoretical model and empirical estimations over a EU27 + UK national panel are developed to understand the optimal dynamic of accumulation, innovation, and recycling. The former is growth models supporting a theory of stock accumulation and stock diversity. This framework is used to delineate possible biases of the empirical analysis, which is made throughout a panel data model estimation. The panel uses weight per capita and Shannon concentration index as target variables to address the Environmental Kuznets Curve. Dummies proxied the Waste Packages of 2008 and 2012 to control for breaks. The results show the high significance of the panel data model within each Stratum of EU states. Waste policies are strongly correlated to increasing EEE material accumulation rather than a reduction ceteris paribus. Socio-economic variables are generally significant, with evidence of economic activity decoupling EEE stock. Lastly, the increase in average durability is positively correlated to material accumulation
Estimating total potential material recovery from EEE in EU28
No full textIn this paper we explored the recycling potential across EU28 of Electrical and Electronic Equipment (EEE). This category embodies the commodities that require electricity in order to function. Per capita rate of EEE varies from less than 150 Kg to more than 2 tons in 2018. Economic intensity of this stock is overall decreasing and it is currently near to zero. EEE are composed by a wide range of materials, comprehending valuables ones as gold and rare ones as antimony. We calculated the potential recovery rate of 16 materials from this category. Using inflow-driven analysis, we estimated the potential value for both in-use stock and waste flows. We defined this rate artificial ore grade (AOG), given recycling as mining of the anthroposphere. Using the same dataset, we estimated the composition of EEE for the same materials and compared the results with other studies. Results show that in-use stock AOG is decreasing over time, possibly due to com-position change of EEE. Nevertheless, potential recovery from these 16 materials accounts to almost 15% of EEE weight in richer countries. Similar results occur for waste AOG. The only two materials that face an increase in rate are iron and chlorine: respectively 0.08%–0.1% and 0.0013%–0.0015% stock-waste. Heavy equipment seems to be the richest category due to size effect. We finally compared the in-use material stock contained within EEE and the rest of anthroposphere. The total weight of EEE is residual compared to total in-use stock. Our results show that high recovery potential is paired with low material consumption compared to the rest of economy. This is a good sign for material footprint, but negative for the volume of recycled materials
The implications of industrial waste for financial markets
No full textThis work assesses the implications of industrial waste for financial performances of listed companies according to policy transparency. The study uses listed companies disclosing waste indicators from 2010 to 2020. An indicator of national waste policies is made to cluster nations into two major groups. Pooled regression models have been estimated to find the relationship between stock returns and industrial waste production while factoring for industry and nations. The results indicate that the financial performance of companies listed in nations with high policy transparency is negatively related to both gross industrial waste production and revenue intensity. The results have been compared with available examples in literature for waste production and carbon emissions as well. The estimates in this paper indicated that one standard deviation of waste intensity negatively affects stock performances worse than carbon emissions. This work presented therefore evidence of a potential 'circularity' transition risk accompanying the well-known climate transition risk
Fiscal policies, public investments and wellbeing dynamics: mapping the evolution of the EU through crises
No full textThe European Union faced several crises in the last twenty years that destabilized its macroeconomic equilibrium
and development capacity. Standard economic methodologies were capable of neither predicting nor completely solving
these crises through appropriate investments. To understand the overall development performance, the well-known Human
Development Index (HDI) is the most widely deployed conceptual framework. In this article, we look at the components of
welfare dynamics in the EU by examining socio-economic performance. Through a ‘beyond gross domestic product (GDP)’
approach, we analyse public expenditures, especially focusing on the pillars of growth and socio-economic development:
education, health, and total R&D. We believe that convergence policies and sustainability policies should together be given a
greater role within the EU agenda. They are necessarily interlinked with each other and with the common welfare, the true
objective of public policy. European strategies on the key human development pillars were heterogeneous during the last
decades. The post 2009 recession was characterized by non-expansionary measures that have undermined development in
most countries. Due to the lack of a robust investment patterns towards human and sustainable development, European countries were not fully prepared to tackle the COVID-19 shock. Growth and development figures were already gloomy in
2019 and the years before. The hope is that this lesson is useful to create a solid society and economic system for possible
future crises
Climate reputation risk and abnormal returns in the stock markets: A focus on large emitters
No full textReputation risk is among the possible climate transition risks companies face, especially in emission-intensive industries. Failing to meet stakeholders' expectations about the contribution to climate goals might influence investors' strategies and produce financial damages. We look at the climate-related social media talk in a sample of highly polluting companies. For these companies, reputation risk materialises if their climate talk is perceived as not coherent with their action-taking. We then assess the impact of climate talk on short-term stock market performance, as measured by abnormal returns, and find a positive association between climate-related social media talks and abnormal returns. The strength of this association lowers during peak days of social media attention on climate-related topics
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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