Market Stability Reserve under exogenous shock: The case of COVID-19 pandemic

Azarova, Valeriya; Mier, Mathias

doi:10.1016/j.apenergy.2020.116351

Cited by 31 publications

(22 citation statements)

References 37 publications

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“…Complementary policies, including investments in quality infrastructure (e.g. for active modes of transport) and the provision of public transport, would provide alternatives, enabling people to switch modes while improving the effectiveness and the perceived fairness of carbon pricing (OECD, 2021 [38]). In fact, public transport infrastructure has been found to significantly increase consumer's responsiveness of travel and energy demand (and related GHG emissions) to carbon pricing (Avner, Rentschler and Hallegatte, 2014 [37]).…”

Section: Other Policies Can Make Carbon Pricing More Effective and Ac...mentioning

confidence: 99%

Carbon pricing and COVID-19

2022

OECD Environment Working Papers

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Carbon pricing and COVID-19: Policy changes, challenges and design options in OECD and G20 countries Environment Working Paper No. 191By Daniel Nachtigall (1), Jane Ellis (1) and Sofie Errendal (1)(1) OECD Environment Directorate OECD Working Papers should not be reported as representing the official views of the OECD or its member countries. The opinions expressed and arguments employed are those of the authors.

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Section: Other Policies Can Make Carbon Pricing More Effective and Ac...mentioning

confidence: 99%

Carbon pricing and COVID-19

2022

OECD Environment Working Papers

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“…This reforming trend has been accompanied by 20 consent decrees since 1997. Economists have used the notion of exogenous shocks to describe an event that causes a rapid and sudden change to an economy (e.g., COVID 19 pandemic, deregulation) (Azarova and Mier 2021;Favara and Imbs 2015). In a similar vein, consent decrees serve as an exogenous shock to police departments who must respond immediately to the binding federal court enforced agreement by instituting organizational and operational changes that respond to allegations made against them (i.e., disproportionate stops of minority residents).…”

Section: Frameworkmentioning

confidence: 99%

The Racial Divide at Micro Places: A Pre/Post Analysis of the Effects of the Newark Consent Decree on Field Inquiries (2015–2017)

Chillar¹

2021

Journal of Research in Crime and Delinquency

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Objectives: An initial investigation by the Department of Justice (DOJ) found that the Newark Police Department (NPD) had engaged in a “pattern or practice” of constitutional violations with regard to stop and arrest practices, prompting the city to enter a consent decree. Methods: This study draws on official event-level data on FIs recorded by NPD officers (N = 50,322) and uses random effects panel regression models to examine how socioeconomic characteristics interact with the implementation of the consent decree at micro places in the short term. Results: Spatial analyses indicate a concentration of FI encounters. The implementation of the consent decree coincided with improvements in the quality of data collected by officers conducting FIs of citizens. It was also associated with decreased rates of reported FIs for the city’s Black and Latino citizens relative to their share of the local population, and patterns of FI encounters. Conclusions: Newark’s consent decree improved the quality of data collection. However, the spatial concentration of reported FIs and subsequent arrest of Black and Latino individuals have not experienced the same effect as they presumably require a culture change that is likely to necessitate a longer time frame to manifest.

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“…Double and triple CO2 price assume doubled or tripled CO2 prices, respectively, from 2025 onwards. The flat scenario reflects a demolition of the EU ETS, the double CO2 price scenario is closer to developments reflecting latest changes of the EU ETS (market stability reserve with canceling mechanisms), and the triple scenario seems to be a good reflection of future changes regarding the goals underpinning the European Green Deal (Azarova and Mier, 2020). Figure 4 shows the evolution of installed capacity (upper diagram), and CO2 emissions (gray bars with scale on the left axis) as well as system cost (orange diamonds with scale on the right axis) for the myopic and the intertemporal specification for the four different market environments.…”

Section: Varying Carbon Pricesmentioning

confidence: 99%

Unraveling the Black Box of Power Market Models

Mier

Azarova

2021

SSRN Journal

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Detailed numerical models of power markets with millions of variables and equations are often perceived as black boxes, because differences in results cannot be traced back to single equations or assumptions, respectively. We unravel parts of those black box by determining the impact of different investment cost specifications including the role of varying discount and interest rates. We further expand our analysis to the impact of simplifications strategies (foresight, spatial resolution, temporal resolution) that are applied to contain numerical feasibility of such models. The choice of investment cost modeling (and related discount and interest rates) has the highest impact on results. Increasing or decreasing, respectively, complexity in turn, has only minor impacts. Our findings questions the current focus of the literature on complexity of power market models neglecting the most relevant factor, which is the choice of handling investment costs.

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Market Stability Reserve under exogenous shock: The case of COVID-19 pandemic

Cited by 31 publications

References 37 publications

Carbon pricing and COVID-19

Carbon pricing and COVID-19

The Racial Divide at Micro Places: A Pre/Post Analysis of the Effects of the Newark Consent Decree on Field Inquiries (2015–2017)

Unraveling the Black Box of Power Market Models

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