published_or_final_version / Public Administration / Master / Master of Social Sciences

Thesis--University of Missouri, School of Mines and Metallurgy, 1912. / The entire thesis text is included in file. Typescript. Illustrated by author. Title from title screen of thesis/dissertation PDF file (viewed March 11, 2009) Includes bibliographical references (p. [2]).

Economic regulation of business activities appears to be contrary to the philosophy of free enterprise. It can be justified only if it is imposed as a means to serve the public interest - to enhance the economic welfare of society - when the self interest of the producer is likely to prove harmful to the general interest of society. Public utilities are enterprises which have to be regulated in the interest of society and particularly the rates they may charge. In the regulation of utility rates, cost is often accepted as the proper basis for fixing the rates. Among the costs of rendering a utility service is the cost associated with the use of a capital asset, that is, depreciation expense. There are various bases on which depreciation expense is computed. Thus, there arises the problem of selecting a proper basis for determining the depreciation expense that is consistent with the purpose of rate regulation. An examination of current literature suggested that there is a case, on theoretical grounds, for adopting the current replacement cost approach to depreciation accounting when the purpose of fixing a utility rate is to serve the interest of society. The case appears strong when a marginal-cost standard is accepted for rate regulation since, under the assumption of continuity of operations, the cost of replacing the services of a capital asset is the long-run marginal (opportunity) cost of employing the asset in the enterprise; thus, a rate that is fixed on the basis of current replacement cost will promote optimum allocation of resources in the economy. Even if a "full-cost" standard is employed in the regulation of utility rates, there is still a case for determining depreciation expense on the basis of current replacement cost. A utility rate that is fixed on this basis is more comparable to the price charged in the non-utility sector of the economy and, thus, promotes better allocation of resources between the utility sector and the rest of the economy. It also provides the enterprise an opportunity to maintain intact its productive capacity if this is in the interest of society; for the ability of the enterprise to continue production in the future will not be impaired. It is recognized that there are practical problems associated with the application of the proposal to a real life situation. However, they are not insurmountable. They appear no greater than the problems associated with the use of reproduction cost new - a concept which has been applied in practice in the history of rate regulation. / Business, Sauder School of / Graduate

This thesis attempts to model the returns on Regional Greenhouse Gas Initiative (RGGI) allowances using logged monthly returns from 2011-2018. This asset, shown to be a useful diversifier in portfolios, has been identified by previous literature to behave similarly to commodities. I used auto-regressive, GARCH, and Markov regime switching models to analyze the returns because the returns displayed changing volatility. These models were comparatively analyzed both in and out-of-sample. In this limited data analysis, the Markov model outperformed both alternatives in-sample. The Markov and Garch models displayed similar predictive power out-of-sample, however neither were particularly effective.

In January 2005 a trading scheme with emission allowances, including carbon dioxide (CO2), was introduced in Europe. This has influenced the electricity price as well as the price of CO2 emitting production. The paper and pulp industry uses a high share of electricity and emits CO2 and is therefore chosen. This industry is investigated to see if the competitiveness for the industry has been influenced by the emission trading scheme. Since the trial period is too short to give any clear results, USA has been investigated to make comparisons with Sweden. Different theories about the subject together with electricity price and production price data from Statistiska Centralbyrån. A competitiveness model is calculated with help from production prices and show that Sweden has become relatively more competitive compared to the USA since 1995. A reason for this can be the introduction of an emission trading scheme in the USA in 1995. If this is the case, the Swedish paper and pulp industry can face a decrease in competitiveness in the near future.

<p>In January 2005 a trading scheme with emission allowances, including carbon dioxide (CO2), was introduced in Europe. This has influenced the electricity price as well as the price of CO2 emitting production. The paper and pulp industry uses a high share of electricity and emits CO2 and is therefore chosen. This industry is investigated to see if the competitiveness for the industry has been influenced by the emission trading scheme. Since the trial period is too short to give any clear results, USA has been investigated to make comparisons with Sweden. Different theories about the subject together with electricity price and production price data from Statistiska Centralbyrån. A competitiveness model is calculated with help from production prices and show that Sweden has become relatively more competitive compared to the USA since 1995. A reason for this can be the introduction of an emission trading scheme in the USA in 1995. If this is the case, the Swedish paper and pulp industry can face a decrease in competitiveness in the near future.</p>

Thesis (doctoral)--Universität Köln.

Thesis (Ph. D.)--University of California, San Diego, 1997. / Vita. Includes bibliographical references (leaves 255-276).

Thesis (S.T.D.)--Catholic University of America. / Bibliography: p. 129-137.

This Master thesis analyses the European Union Emissions Trading Scheme (EU ETS). The aim is to analyse this instrument and its achievements. Emission allowances represent a new market instrument of the European Union's policy to reduce greenhouse gas emissions in order to combat the climate change. The first part of the thesis focuses on international climate negotiations, in particular on the Kyoto Protocol, which triggered the establishment of the EU ETS. The second part focuses on the system functioning and its achievements. The third part deals with the functioning of the EU ETS in the Czech Republic.