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Essays in Environmental Economics /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in Environmental Economics /Kendra Marcoux.
Author:	Marcoux, Kendra,
Description:	1 electronic resource (141 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 87-08, Section: B.
Notes:	Advisors: Fowlie, Meredith Committee members: Sallee, James; Weber, Paige; Wagner, Katherine.
Contained By:	Dissertations Abstracts International87-08B.
Subject:	Climate change.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=32401377
ISBN:	9798276019895

Essays in Environmental Economics /
Marcoux, Kendra,

Essays in Environmental Economics /Kendra Marcoux. - 1 electronic resource (141 pages)

Source: Dissertations Abstracts International, Volume: 87-08, Section: B.

This dissertation includes three chapters, all of which focus on different aspects of environmental economics. In the first chapter I model the growth of the petrochemical industry to quantify the impacts that the shale gas boom and various proposed energy policies had or would have on aggregate petrochemical capacity and emissions in the United States. I estimate the relationship between input and output prices and firm capacity investment decisions in the petrochemical industry using a competitive, dynamic model of plant capacity and location choice. Using my estimated parameters and a series of counterfactual simulations, I find that the shale gas boom led to an increase in the size of the industry of between 1% and 12% per year over the years 2012 to 2024 and that subsidy-based energy policy and aggressive LNG export policy would lead to average annual aggregate capacity changes between 0.18% and 3.6% and -0.9% and -0.24%, respectively. I also find that a subsidy-based environmental policy like the Inflation Reduction Act would lead to carbon leakage between the energy and petrochemical sectors at a rate between 0.1% and 9.9%. In the second chapter I quantify the distortion that the FEMA Public Assistance Program places on local government investments in public infrastructure. I find that counties that receive federal disaster payouts spend

English

ISBN: 9798276019895Subjects--Topical Terms:

689368
Climate change.
Subjects--Index Terms:

Industrial organization

Essays in Environmental Economics /
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520 $a This dissertation includes three chapters, all of which focus on different aspects of environmental economics. In the first chapter I model the growth of the petrochemical industry to quantify the impacts that the shale gas boom and various proposed energy policies had or would have on aggregate petrochemical capacity and emissions in the United States. I estimate the relationship between input and output prices and firm capacity investment decisions in the petrochemical industry using a competitive, dynamic model of plant capacity and location choice. Using my estimated parameters and a series of counterfactual simulations, I find that the shale gas boom led to an increase in the size of the industry of between 1% and 12% per year over the years 2012 to 2024 and that subsidy-based energy policy and aggressive LNG export policy would lead to average annual aggregate capacity changes between 0.18% and 3.6% and -0.9% and -0.24%, respectively. I also find that a subsidy-based environmental policy like the Inflation Reduction Act would lead to carbon leakage between the energy and petrochemical sectors at a rate between 0.1% and 9.9%. In the second chapter I quantify the distortion that the FEMA Public Assistance Program places on local government investments in public infrastructure. I find that counties that receive federal disaster payouts spend $0 .22 per capita less on local infrastructure projects in the year following a disaster when compared to counties that did not receive funding but experienced similar levels of per capita damages. This result indicates that municipalities that receive insurance payouts may be less willing to invest in decreasing local exposure to climate risk and overall resilience than counties that were forced to shoulder the costs of disaster repairs themselves. In the final chapter, my coauthor and I review current challenges in both public and private natural disaster insurance markets in the United States and how the nature of these challenges has changed over the past fifty years. We discuss how the infrequent, spatially correlated, and extreme events that distinguish these markets complicate both the supply of and demand for natural disaster insurance, with spillovers to related markets such as real estate. We also highlight open questions that would be helpful to answer to inform analysis of currently proposed natural disaster insurance reforms.
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