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The Trade-Off between Economic and Environmental Objectives in Japan's Power Sector

Hisashi Amagai and PingSun Leung

Year: 1991
Volume: Volume 12
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No4-6
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Abstract:
The current concern about global warming has made it necessary for the electric power industry in Japan to reexamine its power generation mix plan. Past studies on the optimal power generation mix in Japan have only emphasized economic efficiency. Thermal power generation producing carbon dioxide (CO2) emissions has a lower generation cost than hydropower and new energy sources. Hence, there is a trade-off between generation-cost minimization (the economic objective) and COz emission minimization (the environmental objective). This paper presents a quantitative study of the trade-off between these two objectives in the year 2000, and discusses the nature of the trade-off curve and the extent of power generation by source.



Demand for Ground Transportation Fuel and Pricing Policy in Asian Tigers: A Comparative Study of Korea and Taiwan

Sara Banaszak, Ujjayant Chakravorty and PingSun Leung

Year: 1999
Volume: Volume20
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol20-No2-6
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Abstract:
This paper examines the demand for gasoline and diesel in the ground transportation sectors of South Korea and Taiwan, comparing the effects of their different pricing policies and stages of economic growth. To account for substitutability between the two fuels, the model proposed here uses a system of equations estimated simultaneously with time-series data from 1973-1992. Results yield demand elasticities that confirm previous research showing that oil product demand is generally price inelastic, while income elasticities (reflecting a longer period of economic growth than previous studies in the Asian region) are lower than those previously reported. The estimated demand functions are then used to generate forecasts for both countries and, in particular, for an assumed reduction in a 180% tax on gasoline in Korea. Forecasted increases in demand by the year 2010 range from 40 to 180%, while the tax analysis suggests that Korea's pricing policy has reduced total demand and promoted the use of diesel over gasoline.





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