282 research outputs found
The dynamic of the United States' Co2 emissions: An empirical multidimensional analysis
No full textIn recent years, energy policies have enhanced electricity generation from renewable energy sources (RES). The aim of this paper is to contribute to the literature on the determinants of carbon emissions and to provide an evaluation of policy effectiveness in promoting energy efficiency. We implement a Dynamic Factor Analysis (DFA) to select a smaller number of common dynamic factors that summarize the multidimensional determinants of CO2 emissions. The novelty of this paper lies on the estimation of the determinants of emission trend that uses a high number of control variables observed over a long time period. The results show that the CO2 trend is influenced by economic development in the short run. The negative signs of demographic and energy factors reveal the existence of a path through environmental sustainability in the U.S. The growth of the population and of energy emissions is accompianed by a a decrease of CO2 emissions in the long run
The role of environmental taxes and public policies in supporting RES investments in EU countries: Barriers and mimicking effects
No full textThis aim of the paper is to investigate on the strength of EU renewable energy policies and of internal barriers to energy investments. Using a novel approach based on spatial econometric methods, the paper contributes to the debate on the effectiveness of policies supporting renewable energy investments in the EU member states. The empirical analysis is based on estimates from spatial econometric models that combines independent variables with a weighting scheme of trade linkages between member states. It allows to show how trade relationships can play a role in shaping green energy policies. In fact, technological skills are transferred together with goods and services, trade flows represent an exogenous factor correlated with green investments
Energy dependence, renewable energy generation and import demand: Are EU countries resilient?
No full textIn this paper, we provide an in-depth analysis of factors determining energy import demand of EU countries. We suggest a novel approach to study the role of renewable versus non renewable energy sources in shaping the demand for energy imports. The aim of the paper is twofold. First, we provide a comprehensive analysis of the EU energy market structure using country-by-country I–O tables to show the rate of interdependency between EU member states in terms of renewable and non renewable energy flows. Second, we investigate on the role of renewable energy sources in reducing energy dependency in EU countries. The econometric analysis uses data from 26 EU countries observed between 2007 and 2016 available from the Eurostat energy statistics database. The descriptive analysis of I–O electricity tables shows some degree of heterogeneity between countries in terms of energy in- and out-flows. Such heterogeneous market structure suggests the use of panel models in the econometric analysis. Moreover, a lasso regression method has been employed for variables selection to avoid the collinearity. The results show that benefits may arise from replacing energy imports with domestic energy production and from reducing energy dependency rate. Moreover, if import substitution occurs with domestic renewable energy sources additional positive effects are produced in terms of either energy dependency, energy security and sustainable development
The causal relationship between energy consumption, energy prices and economic growth in Asian developing countries: A replication
No full textIn this paper, we first replicate estimates of [6] over a longer period from 1971 to 2015. We then extend the analysis estimating an additional specification in which a categorical variable is included to take into account if the four Asian countries adopted policies in support of the generation of energy from renewable sources. Most of the results of Asafu-Adjaye's analysis hold for Thailand and Philippines even when considering 20 years of additional data. The results for India and Indonesia are quite different from the original work in term of vector of cointegration and Granger-causality relationships. The Indian case is also different from other countries considered when we analyse the effects of the adoption of policies in favour of renewable energy sources. Keywords: Energy consumption, Economic growth, Granger causality, Replication, JEL classifications: C22, Q43, Q4
Regional tax evasion and audit enforcement
No full textRegional tax evasion and audit enforcement. Regional Studies. Using an original panel dataset on tax gap and audits, this paper sheds light on the impact of audit and enforcement on the Italian regional tax evasion over the period 2001–11. Spatial econometric models were used to model regional tax gaps and to control for endogeneity issues and spatial patterns. Results provide evidence that greater enforcement increases tax compliance. A higher probability of targeted audits and additional schemes to increase the disclosure of declared income decrease the tax gap. The paper provides a general framework to study determinants of tax evasion at the regional level
The Economic Crisis: A Story of Supervisory Failure and Ideas for the Way Forward
No full textIn the aftermath of the Asian financial crisis, international financial institutions(IFI), national stakeholders and academia took several initiatives to improve the
quality of the regulato ry and supervisory framework for finance. It was hoped that a combination of stronger regulat
ory frameworks and better quality supervision would help to avoid, or at least mitigate the effec
ts of, a possible next crisis. Emerging initiatives, such as the Basel Core Principles for Effective Bank Supervision (BCP), were expedited and new initiatives, such as the IMF-World Bank Financial Sector Assessment Programs or FSAPs, were introduced. In the same period work on the Basel II regulatory framework saw the light of day. These
international efforts were complemented by revisions by several national authorities, of their supervisory architecture in order to enhance the effectiveness of
supervision. This wave of revisions was in
spired by the unification of all financial
supervisors in the Financial Services Auth
ority (FSA) in the UK in 1997. Crisis mitigation brought
additional arguments to the table for revising the national
supervisory architecture. Finally, work was also undertaken to strengthen governance of supervisory agencie
Comparison of Hysteroscopy and Hysterectomy in detecting Endometrial pathologies in Tamoxifen-treated women
No full textComparison of Hysteroscopy and Hysterectomy in detecting Endometrial pathologies in Tamoxifen-treated women
No full textTax gap and redistributive aspects across Italy
No full textOur aim in this paper is twofold. First, we seek to contribute to the debate on estimation of the tax gap by proposing a novel methodology to disaggregate the total tax gap empirically. Second, we analyze the effects of tax evasion in terms of primary distribution of income. Our methodology is based on an original integration of the top-down and the bottom-up approaches to estimating the tax gap. The former is based on the comparison between national accounts and administrative tax data and is employed to estimate the gap of the tax base. The bottom-up approach uses data from tax audits and is employed to derive figures on the tax gap disaggregated by type of taxpayer. Furthermore, the results of tax audits make it possible to examine how tax evasion modifies the progressivity of the tax system as well as the vertical and horizontal equity in the distribution of income. The analysis is conducted for Italian regions in order to take also the spatial distribution of the tax gap into account
Assessing the determinants of SIDS' pattern toward sustainability: A statistical analysis
No full textThe aim of this paper is twofold. First, we assess the SIDS' pattern towards energy sustainability. Second,
we try to understand the macrofactors that drive policy–makers in setting the optimal framework for
investments in renewable energy sources. The empirical analysis is performed on a large dataset of 136
countries and 41 variables observed in the time span 2000–2011. Countries analyzed include a sample of
12 SIDS (Bahrain,Cuba,DominicanRepublic,Fiji Islands,Guyana,Haiti,Jamaica,Maldives,Mauritius,
Papua NewGuinea,Singapore,Trinidad and Tobago) distributed worldwide. Due to the large number of
variables collected and their high degree of collinearity, the first step of the analysis concerns the implementation of a Principal Component Analysis in order to extract factors explaining the majority of variation of the original variables. In the second step, three different scenarios of modeling are designed to examine the key factors promoting RES investments. In a first scenario,we employ a pooled regression model, in the second a Fixed Effect model and, in the third, aRandom Effect model is estimated. The main results of empirical analysis could be unexpected at first sight. They show, infact, that SIDS are not
on a energy sustainability path .As in the case of other developing countries, policy–makers prefer to use resources to improve economic aspects of development leaving behind issues related to the environmental protection,the use of RES and sustainability. In order to improve economic and environmental resilience of SIDS a synergy between local governments and international organizations to promote the investments in RES is needed. Moreover,an energy plan that clearly supports the generation of energy from RES is recommended. Finally policy–makers should strength their commitment in raising population's awareness toward a green energy generation. Such synergic interventions will allow SIDS to
achieve a more sustainable development
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