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UAM-RIEEM Workshop

Apr 4, 2018 at Waseda University

On 4th April, 2018, Research Institute for Environmental Economics and Management (RIEEM) hosted a workshop entitled UAM-RIEEM Workshop at Waseda University,

Moderated by Professor Ken-Ichi Akao (Waseda University), the workshop started with opening remark and introduction of RIEEM by the director of RIEEM, Professor Toshi H. Arimura.

Afterwards, Professor Miguel Buñuel (Universidad Autónoma de Madrid, hereafter UAM) introduced UAM and its Faculty of Economics and Business Studies.

Following the introduction of UAM, Professor Carmel Arguedas (UAM) gave a talk about her paper entitled “Technology Adoption in Emission Trading Programs with Market Power” which was joint research with Francisco J. André from Universidad Complutense de Madrid. Their paper theoretically studied the relationship between market power in emission permit markets and endogenous technology adoption. They found that the initial distribution of permits is crucial in determining over- or under-investment regarding the benchmark model without market power.

Professor Akao presented his research “International Environmental Agreements as an Equilibrium Choice in a Different Game” that is the joint research with Kento Uchida and Yasuaki Wasa from Waseda University. They theoretically investigated payoff dominant Nash equilibria in the Dockner and Long’s (1993) international pollution control model.

Professor Buñuel talked about his paper “How to Fight Climate Change Mixing a Carbon Tax and Subsidies to Renewable Energy”. He studied the potential impact of a carbon tax on sectoral prices using Input-Out analysis. It shows that imposing a carbon tax would not give major inflationary effects beyond the direct impact on fuel prices.

After coffee break, Professor Arimura spoke about the joint research with Tatsuya Abe (Ph.D student at Waseda University) entitled “An Empirical Study of Tokyo Emission Trading Scheme: An Ex-post Analysis of Emissions from Commercial Buildings”. Their study empirically examined the effect of Tokyo Emission Trading Scheme (ETS) on CO2 emission, electricity consumption and energy consumption of commercial buildings in Tokyo. They showed that Tokyo ETS as well as electricity price increase significantly reduced CO2 emission, electricity consumption and energy consumption.

Professor Carmel Arguedas (UAM) gave a research lecture entitled “Enforcing Pollution Standards in Stock Pollution Problems” which was joint research with Francisco Cabo (Universidad de Valladolid) and Guiomar Martín-Herrán (Universidad de Valladolid). They theoretically study the features of optimal pollution standards and enforcement strategies in settings where environmental damages depend on accumulated pollution, and enforcement is socially costly. It was shown that as long as the environmental problem worsens, the optimal standard becomes harsher, and the optimal fine becomes larger.

Professor Yasushi Kondo (Waseda University) gave a talk entitled “Input-Output Analysis of Circular Economy”. He firstly introduced what is waste input-output analysis and presented how he has applied the method to LCA (life cycle assessment), LCC (life cycle cost), and material flow analysis.

The workshop concluded with closing remarks by Professor Akao. We had about 20 participants including Faculty members of Waseda University, RIEEM researchers, graduate students and our research collaborator from Sophia University.

This workshop was supported by the Organization for University Research Initiatives, Waseda University, Research Institute for Environmental Economics and Management (RIEEM), Waseda University and Waseda Institute of Political Economy (WINPEC). This event was also supported by Universidad Autónoma de Madrid, and Banco Santander.