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The recent fall in the price of crude oil in the international market is sending economic and political shocks around the world. The hardest hit has been countries like Nigeria whose economies depend largely on oil for appreciable percentage of their foreign exchange earnings. The study examined the effects of oil price shocks on exchange rate volatility in Nigeria using monthly data covering the period 1986:01 to 2015:11.The GARCH models employed are GARCH, PARCH and EGARCH, based on normal, student-t and GED distribution respectively. The study found out that real exchange rate fluctuation in Nigeria is significantly influenced by oil price fluctuations and a strong positive correlation between exchange rate return and future oil price volatility. We therefore recommend that any policy to address the issue of exchange rate fluctuations in Nigeria should give priority attention to oil price fluctuation of the variables as this will help to enhance the real exchange rate in Nigeria.

Recent changes to the electric power industry through deregulation and restructuring have had a considerable effect on power engineering education internationally. A number of Australian universities have also noticed a decline in the number of students interested in power engineering subjects, leading to the fewer graduates with power engineering knowledge. With a reduction in graduates and a perception of an ageing workforce a shortage of suitably qualified power engineers for industry may be imminent. This paper provides discussion on the current status of university power engineering education within Australia and includes results from a recent Australia-wide survey of the university and industry sectors of electric power engineering.

AbstractOur results introduce the preferences and attitudes of farmers and the internet-orientated population regarding renewable energy sources (RES) in Kosovo. The research included 243 internet-orientated participants and 30 farmers. The data was gathered through questionnaires (in both groups) and deep interviews (just in farmers). The results showed that the awareness of RES was high for especially solar, wind and hydro energy, the relationship among them was very strong. It was justified that firewood was typically used by respondents with low income, but not considered as renewable energy source, similarly to Hungary and the USA. A special feature of Kosovo is that electricity has very high importance for the man in the street, even for heating. Better education, higher income and environmental-consciousness definitely support better knowledge of RES, similarly to international tendencies. Males and employed participants had more knowledge about RES than females, or unemployed ones. Moreover, the results showed that the participants prefer environment rather than convenience, which is also typical of less wealthy countries. Our results might be useful as a typical less developed country case study for international comparison and helps to eliminate the unknown willingness in RES for the development of future agricultural strategies in Kosovo.

Aviation is one of the most significant growth drivers not only for the transportation infrastructure, but also for country’s economy as it contributes to both industrial and social progress of society. The paper focuses on Sheremetyevo International Airport, one of the largest Russian airports and analyzes it in terms of short-term and long-term perspectives. Using real statistical data, the article presents the models for forecasting essential performance indicators of airports, namely, passenger traffic and revenue. By comparing quality characteristics, most suitable models were selected and checked for adequacy. Forecasts of the probable changes in the values of the performance indicators were made under the assumption of maintaining the previously formed development trend.

As part of the Copenhagen Accord, individual countries have submitted greenhouse gas reduction proposals for the year 2020. This paper analyses the implications for emission reductions, the carbon price, and abatement costs of these submissions. The submissions of the Annex I (industrialised) countries are estimated to lead to a total reduction target of 12-18% below 1990 levels. The submissions of the seven major emerging economies are estimated to lead to an 11-14% reduction below baseline emissions, depending on international (financial) support. Global abatement costs in 2020 are estimated at about USD 60-100 billion, assuming that at least two-thirds of Annex I emission reduction targets need to be achieved domestically. The largest share of these costs are incurred by Annex I countries, although the costs as share of GDP are similar for Annex I as a group and the seven emerging economies as a group, even when assuming substantial international transfers from Annex I countries to the emerging economies to finance their abatement costs. If the restriction of achieving two-thirds of the emission reduction target domestically is abandoned, it would more than double the international carbon price and at the same time reduce global abatement costs by almost 25%.

A promising route to transition wastewater treatment facilities (WWTFs) from energy-consuming to net energy-positive is to retrofit existing facilities with process modifications, residual biosolid upcycling, and effluent thermal energy recovery. This study assesses the economics and life cycle environmental impacts of three proposed retrofits of WWTFs that consider thermochemical conversion technologies, namely, hydrothermal liquefaction, slow pyrolysis, and fast pyrolysis, along with advanced bioreactors. The results are in turn compared to the reference design, showing the retrofitting design with hydrothermal liquefaction, and an up-flow anaerobic sludge blanket has the highest net present value (NPV) of $177.36MM over a 20-year plant lifetime despite 15% higher annual production costs than the reference design. According to the ReCiPe method, chlorination is identified as the major contributor for most impact categories in all cases. There are several uncertainties embedded in the techno-economic analysis and life cycle assessment, including the discount rate, capital investment, sewer rate, and prices of main products; among which, the price of biochar presents the widest variation from $50 to $1900/t. Sensitivity analyses reveal that the variation of discount rates causes the most significant changes in NPVs. The impact of the biochar price is more pronounced in the slow pyrolysis-based pathway compared to the fast pyrolysis since biochar is the main product of slow pyrolysis.

The increasing depletion of natural resources, combined with a wider set of pressures on the environment, has, in recent years, highlighted the need for a more efficient use of energy and a development process that involves alternative energy sources. Energy efficiency has received much attention as a solution, implying both monetary and emissions savings. However, the latter may be partially offset by the income and demand effects of the former, both in more efficient sectors and in spreading to the wider economy. This is the problem of rebound effects. Taking Spain as a case study, and introducing an energy-related CGE model that develops the inclusion of renewables, this paper evaluates a combination of efficiency initiatives to deliver both reduced energy use by households and a more sustainable supply of energy. Our findings suggest that a package aimed at improving efficiency in household electricity and petroleum use, combined with a more competitive supply of energy from renewable sources, may be the only way to get reductions in all energy use, and thus benefit the economy. Specifically, we consider how this package may lead to positive economic impacts and associated rebound effects, where the latter are focused on a greener energy supply.

AbstractRemittances to the Philippines constitute a prominent part of its economy. However, remittances' effects on its environment have not been researched. In this regard, this research examines the direct and indirect impacts of remittance inflows on the Philippines' environmental sustainability for the 1977–2016 period by proposing a multivariate model, and by utilising the augmented ARDL and VECM methods to estimate this model. Our findings indicate that remittance inflows threaten environmental sustainability in the long‐run both directly and indirectly through boosting income and energy (oil) consumption. The results additionally imply that income and energy consumption also increase the ecological footprint of the Philippines in the long‐run. However, economic globalisation's long‐run impact is insignificant, yet its short‐run impact is significantly negative on the country's level of environmental degradation. Additionally, the findings reveal that the feedback hypothesis is valid between income and energy consumption in the long‐run, but the neutrality hypothesis is valid in the short‐run. This research's findings reveal that remittance inflows' impact on the environment is significant, and can occur through direct and various indirect channels, therefore, these inflows should be an integral part of sustainability policies in the Philippines, as ignoring them could cause further environmental decline.

The proposition that living in the largest urban agglomerations of an advanced economy reduces the average wellbeing of residents is known as the urban wellbeing paradox. Empirical tests using subjective wellbeing have produced mixed results and there are two reasons for being cautious. Firstly, the default reliance on the conditional mean can disguise uneven effects across the wellbeing distribution. Secondly, relying on respondents to define their settlement size does not ensure a consistent measure of the agglomeration. I therefore apply quantile regression to the life satisfaction and happiness measures of wellbeing as collected by the 2018 European Social Survey (ESS9) and employ a consistent local labour market-based definition of agglomeration—The Functional Urban Area (FUA). I compare three countries as proof of concept: one with a known strong negative (respondent defined) agglomeration effect (Austria), one with a slight negative effect (Czech Republic), and one where living in the main agglomeration is positively associated with average wellbeing (Slovenia). The uneven wellbeing effect of living in the largest agglomeration in each country raises questions about who benefits in which cities.