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ID: 176646

Continuing evolution of Energy Policy / Brown, Stephen P A

Brown, Stephen P A	Journal Article
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Summary/Abstract

As the world confronts the Covid-19 pandemic, we hope that all of you are doing well. We know that many lives have been greatly disrupted, and that world economic activity is slowing and maybe declining in some places. We have read reports that energy consumption has been greatly affected by the slowdown in world economic activity—likely contributing to the sharp plunge in oil prices earlier this year. We do not know how long this pandemic may last. As we look forward to the end of the pandemic and a recovering world economy, however, we wonder if and how energy systems may have to be transformed, and whether new energy policy needs and approaches will emerge. Will we see any change in the trajectory of adopting sustainable energy systems and reducing carbon emissions?

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Energy Policy

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ID: 149896

Using the Environmental Kuznets Curve to evaluate energy policy: some practical considerations / Brown, Stephen P A; McDonough, Ian K

Brown, Stephen P A	Journal Article
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The Environmental Kuznets Curve (EKC) is a widely applied empirical model that is used to assess the effect of country's increased income on its emissions (such as CO2). Typical estimation is of a reduced form model relating per capita emissions to per capita GDP (and sometimes to energy consumption) with an eye toward determining whether a country's per capita emissions increase or decrease with per capita GDP. In this article, we consider a number of practical issues in estimating and using the EKC for energy policy analysis. Proper estimation procedures should be used if the empirical work is to provide valid estimates of the EKC's shape. In addition, policymakers should proceed with caution when crafting policy on the basis of reduced form estimates of the EKC because the reduced form model provides limited insight into the policy implications of the relationship between income, energy consumption and emissions.

Key Words

Error-Correction Model ; TURNING POINT ; Environmental Kuznets Curve ; Reduced form Estimation ; Inverted-U-Shape

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