Search results for " price"
showing 10 items of 290 documents
How does fiscal policy react to wealth composition and asset prices?
2012
Prova tipográfica
Putting time into space: the temporal coherence of spatial applications in the housing market
2016
International audience; Relationships between past events, future expectations and present decisions, typically examined through a temporal prism within applied economics, have been lately moving to the spatial dimension through spatial econometrics. However, violations of the “arrow of time”, and thus causality, have been identified in spatial econometric techniques applied to spatio-temporal data consisting of observations each at a specific location and distinct moment in time. A comprehensive review classifies for the first time several redresses to this issue in a currently fragmented literature. This paper puts back the temporal dimension into spatial Hedonic Pricing models through a …
The Influence of Oil Price on Renewable Energy Stock Prices: An Analysis for Entrepreneurs
2020
Abstract This study investigates the relationship between oil price fluctuations and renewable energy stock returns using daily data on Brent crude oil prices and global renewable energy stock market indices between 29 November 2010 and 18 February 2020. The investigation is based on the existing evidence on positive correlations between stock prices and oil prices, but it also considers the shift from non-renewable to renewable sources of energy. A two-stage GARCH(1,1) model and a Granger causality test were applied. Our results show that volatility clustering is present in the renewable energy companies‘ stock prices, but, oil price volatility does not seem to induce any significant effec…
Forecasting Weekly Electricity Prices at Nord Pool
2007
This paper analyses the forecasting power of weekly futures prices at Nord Pool. The forecasting power of futures prices is compared to an ARIMAX model of the spot price. The time series model contains lagged external variables such as: temperature, precipitation, reservoir levels and the basis (futures price less the spot price); and generally reflects the typical seasonal patterns in weekly spot prices. Results show that the time series model forecasts significantly beat futures prices when using the Diebold and Mariano (1995) test. Furthermore, the average forecasting error of futures prices reveals that they are significantly above the settlement spot price at the ‘delivery week’ and th…
Efficiency assessment of wastewater treatment plants: A data envelopment analysis approach integrating technical, economic, and environmental issues
2015
The assessment of the efficiency of wastewater treatment plants (WWTPs) is essential to compare their performance and consequently to identify the best operational practices that can contribute to the reduction of operational costs. Previous studies have evaluated the efficiency of WWTPs using conventional data envelopment analysis (DEA) models. Most of these studies have considered the operational costs of the WWTPs as inputs, while the pollutants removed from wastewater are treated as outputs. However, they have ignored the fact that each pollutant removed by a WWTP involves a different environmental impact. To overcome this limitation, this paper evaluates for the first time the efficien…
Economic feasibility study for wastewater treatment: a cost-benefit analysis.
2010
Water resource management should be made from a multidisciplinary perspective. In this sense, economic research into the design and implementation of policies for the efficient management of water resources has been emphasized by the European Water Framework Directive (WFD). Cost-benefit analysis (CBA) is one of the more widely accepted economic instruments since it is a rational and systematic decision-making support tool. Moreover, the wastewater treatment process has significant associated environmental benefits. However, these benefits are often left uncalculated because they have no market value. In this paper, using the concept of shadow price, a quantification of the environmental be…
Economic feasibility study for new technological alternatives in wastewater treatment processes: a review
2012
The concept of sustainability involves the integration of economic, environmental, and social aspects and this also applies in the field of wastewater treatment. Economic feasibility studies are a key tool for selecting the most appropriate option from a set of technological proposals. Moreover, these studies are needed to assess the viability of transferring new technologies from pilot-scale to full-scale. In traditional economic feasibility studies, the benefits that have no market price, such as environmental benefits, are not considered and are therefore underestimated. To overcome this limitation, we propose a new methodology to assess the economic viability of wastewater treatment tec…
Multi-step ahead electricity price forecasting using a hybrid model based on two-layer decomposition technique and BP neural network optimized by fir…
2017
In the deregulated competitive electricity market, the price which reflects the relationship between electricity supply and demand is one of the most important elements, making it crucial for all market participants to precisely forecast the electricity price. However, electricity price series usually has complex features such as non-linearity, non-stationarity and volatility, which makes the price forecasting turn out to be very difficult. In order to improve the accuracy of electricity price forecasting, this paper first proposes a two-layer decomposition technique and then develops a hybrid model based on fast ensemble empirical mode decomposition (FEEMD), variational mode decomposition …
Economic valuation of environmental benefits of removing pharmaceutical and personal care products from WWTP effluents by ozonation.
2013
Continuous release of pharmaceutical and personal care products (PPCPs) present in effluents from wastewater treatment plants (WWTPs) is nowadays leading to the adoption of specific measures within the framework of the Directive 2000/60/EC (Water Framework Directive). The ozonation process, normally employed for drinking water production, has also proven its potential to eliminate PPCPs from secondary effluents in spite of their low concentrations. However, there is a significant drawback related with the costs associated with its implementation. This lack of studies is especially pronounced regarding the economic valuation of the environmental benefits associated to avoid the discharge of …
Monetary valuation of salicylic acid, methylparaben and THCOOH in a Mediterranean coastal wetland through the shadow prices methodology
2018
The presence of pharmaceutical and personal care products and drugs of abuse (PPCPs) in wastewater treatment plants (WWTPs) indicates discharge of the effluent may not be suitable for the ecological balance of water ecosystems, such as wetlands. These PPCPs degrade water quality, considered as an ecosystem service (ES), provoking serious environmental impacts. Assessing the monetary value of PPCPs can be used as a proxy for environmental status of the ES of water quality (ESWQ). Considering PPCPs as non-desirable outputs of WWTPs, the shadow prices methodology has been implemented using directional distance function to measure the environmental avoided cost of removing salicylic acid (SA), …