This paper shows that the same conditions that lead to pollution leakage enhance the efficacy of clean subsidies.

Pigouvian subsidies are efficient, but output subsidies with uncertain or limited durations are not Pigouvian. This paper shows that optimal “time-limited” policies must also subsidize investment to correct externalities generated after the output subsidy ends.

This paper estimates the effect of competition on incumbent firm pricing by using high frequency price data and the precise geographic location for all gas stations in California.

This paper uses emergency outages of coal generators as an exogenous source of variation in the power generation stack to study how changes in marginal fuel affect real-time prices. Contrary to anecdotal evidence, the authors find that wholesale prices are less volatile when natural gas is on the margin more often.

This paper studies whether electricity bill shocks draw attention to the benefits of home energy efficiency investments.

This paper studies the general equilibrium effects of time-varying geopolitical risk in the oil market by simultaneously modeling downside risk from disasters, oil storage and the endogenous determination of oil price and macroeconomic uncertainty in the global economy.