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ID:
150727
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| Summary/Abstract |
Over the last decades, electricity markets across OECD countries have been subjected to profound structural changes with far-reaching implications on the economy and the environment. This paper investigates the effect of restructuring – changes in entry regulations, the degree of vertical integration and ownership structure – on GHG emissions. The findings show that competition policies – particularly reducing the degree of vertical integration and increasing privatization – correlate negatively with emission intensity. However, the environmental effect of reducing market entry barriers is generally insignificant. Integration of competition and stringent environmental policies are required to reduce GHG emissions and improve environmental quality.
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| 2 |
ID:
137724
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| Summary/Abstract |
Consumers in Germany often complain that retail fuel prices usually adjust quickly to crude oil price increases than decreases and characterize this pricing pattern as market power exploitation. In this paper, we use both weekly national and daily city-specific (Berlin, Hamburg, Munich and Cologne) data to investigate the extent to which retail fuel prices in Germany adjust to changes in the international crude oil price. At the national level with weekly prices, we find positive asymmetries for both gasoline and diesel within the period 2003–2007, reflecting that retail prices react more swiftly to crude oil price increases than decreases. In contrast, for 2009–2013, we observe symmetric adjustment and negative asymmetry for retail diesel and gasoline prices, respectively. The city level analysis supports our findings in the latter time period. Thus, regulatory measures aimed at the retail fuel market over recent years seem to have been effective, and, contrary to consumers' perception, we find no evidence for excessive market power or collusion.
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