Routledge Handbook of Energy Economics

Energy consumption and production have major influences on the economy, environment, and society, but in return they are also influenced by how the economy is structured, how the social institutions work, and how the society deals with environmental degradation. The need for integrated assessment of the relationship between energy, economy, environment, and society is clear, and this handbook offers an in-depth review of all four pillars of the energy-economy-environment-society nexus. Bringing together contributions from all over the world, this handbook includes sections devoted to each of the four pillars. Moreover, as the financialization of commodity markets has made risk analysis more complicated and intriguing, the sections also cover energy commodity markets and their links to other financial and non-financial markets. In addition, econometric modeling and the forecasting of energy needs, as well as energy prices and volatilities, are also explored. Each part emphasizes the multidisciplinary nature of the energy economics field and from this perspective, chapters offer a review of models and methods used in the literature. The Routledge Handbook of Energy Economics will be of great interest to all those studying and researching in the area of energy economics. It offers guideline suggestions for policy makers as well as for future research.

List of FiguresList of TablesList of ContributorsPreface, Reinhard MadlenerIntroduction, Ugur Soytas and Ramazan SariPart 1 Energy and economyEnergy demand, Govinda TimilsinaEnergy and economic growth, David SternOil prices and the macroeconomy, Lance Bachmeier and Michael PlanteEconomics of renewable energy, Painuly J. Prasad and Norbert WohlgemuthEnergy efficiency and economy-wide rebound: realising a net gain to society, Lisa Ryan, Karen Turner, and Nina CampbellEconomic impacts of energy transition, Christian Lutz and Ulrike LehrElectricity market integration, Lillian M. de Menezes and Michael TamvakisAnalysis of Macroeconomic Impacts of Energy Security Improvements in Asia, Deepak Sharma, Suwin Sandu, Muyi YangPart 2 Energy and environmentEnergy and climate, Richard S.J. TolCarbon emissions and energy use, Yi-Ming Wei and Lan-Cui LiuEnergy economics and environment of energy systems, Janie Ling-Chin, K. Rajendran, and A.P. RoskillyRenewable energy policy, Travis RoachThe energy water nexus, Benjamin K. SovacoolLow carbon economy and smart grids, Cédric Clastres and Patrice GeoffronThe role of carbon pricing in the Paris agreement, Izzet Ari and Ramazan SariPart 3 Energy and societyThe impact of climate change and the social cost of carbon, Richard S.J. TolEnergy and the public: the economic relevance of citizens’ engagement, Alessandro Sciullo, Anna PellizzoneQuality of life and energy use: Is there a fair energy use level?, Olcay Aydemir and Ugur SoytasResponsible investment, Aled JonesEnergy economics as an energy justice dilemma: Case studies of normative trade-offs in Malawi, Mexico, and Germany, Kirsten Jenkins, Shanil Samarakoon, and Paul MunroPart 4 Energy and other marketsOil spot and futures prices, Nikki Kantelis, Bradley T. EwingOil and stock prices, Perry SadorskyThe role of oil price volatility in the real and financial economy: a survey review, Nicholas ApergisMutual Funds and Energy Sector, Alper GormusOil prices and other energy commodities, Syed BasherOil and agricultural commodity prices, Saban NazliogluOil prices and exchange rates, Hassan Anjum and Farooq MalikVolatility spillovers on oil and forex markets, Jozef Baruník and Evzen KocendaEconomic and social challenges of Smart Grids, Daniela Velte and Guillermo Gil Part 5 Energy ModellingCGE models in energy economics, Ken’ichi Matsumoto and Shinichiro Fujimori'A Methodological Framework for Assessing Macroeconomic Impacts of Energy Security Improvements in Asia, Deepak Sharma, Suwin Sandu, Muyi YangTop-down and bottom-up models, Bora KatMacro-econometric and structural models, Ulrike Lehr and Christian LutzIndex decomposition analysis: Models and applications, Tian Goh and B.W. AngElectricity price forecasting, Rafal Weron and Florian ZielPaths and processes in complex electricity markets: the agent based perspective, Alessandro Sciullo, Elena Vallino, Martina Iori, and Magda FontanaBehavioral Economics and Energy Market, Ozlem OzdemirThe use of foresight in energy policy, Erik LaesMulti-criteria decision analysis for energy policy, Laurence Stamford, Burcin Atilgan, Jasmin Cooper and Adisa AzapagicIndex

Ugur Soytas is a Professor in the Department of Business Administration and the Earth System Science Graduate Program at the Middle East Technical University (METU), Turkey. He is the co-editor of the Energy Economics journal.Ramazan Sari is a Professor in the Department of Business Administration, Middle East Technical University (METU), Turkey. He is the Dean of Faculty of Economics and Administrative Sciences at METU.