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Integration in Gasoline and Ethanol Markets in Brazil over Time and Space under the Flex-fuel Technology

Hector M. Nuñez and Jesús Otero

Year: 2017
Volume: Volume 38
Number: Number 2
DOI: 10.5547/01956574.38.2.hnun
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Abstract:
We employ a pair-wise approach to analyse regional integration in the gasoline and ethanol markets in Brazil. Using weekly price data for these two fuels at the state level over a period of almost ten years, we find that more than half of the fuel price differentials are stationary, which reveals the importance of allowing for spatial considerations when testing for market integration. We also find that the speed at which prices converge to the long-run equilibrium depends upon the distance between states, the differential in sugarcane mills density between states, and the similarity between tax regimes. Other demand and supply factors such as population density, gas stations density, sugarcane mills density and GDP per capita are not statistically significant.



Electricity Tariff Rebalancing in Emerging Countries: The Efficiency-equity Tradeoff and Its Impact on Photovoltaic Distributed Generation

Pedro I. Hancevic, Hector M. Nuñez, and Juan Rosellón

Year: 2022
Volume: Volume 43
Number: Number 4
DOI: 10.5547/01956574.43.4.phan
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Abstract:
Existing tariff schemes often fail to achieve basic economic objectives. They set prices per unit that either exceed or fall short the social marginal cost and produce unfair distributional outcomes. In many cases, electricity rates also contribute to unsustainable fiscal deficits due to the (almost) generalized electricity subsidies. Moreover, inefficient residential tariffs do not favor the adoption of green technologies and the investment in energy efficiency improvements. We argue that the efficient deployment of green technologies, and more generally, the clean energy transition, will require electricity tariff reforms. In this paper, we use household level data and hourly industry data from Mexico to show how more efficient pricing mechanisms (such as a two-part tariff scheme in the context of efficient nodal pricing), combined with well-design environmental regulations (e.g., net-metering schemes) and correctly targeted transfer programs (e.g., means testing mechanisms) can improve economic, social, and environmental outcomes significantly, all at once.





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