Fischer C.,Resources for the Future |
Fox A.K.,ITC Inc
Journal of Environmental Economics and Management | Year: 2012
We explore conditions determining which anti-leakage policies might be more effective complements to domestic greenhouse gas emissions regulation. We consider four policies that could be combined with unilateral emissions pricing to counter effects on international competitiveness: a border charge on imports, a border rebate for exports, full border adjustment, and domestic output-based rebating. Each option faces different potential legal hurdles in international trade law; each also has different economic impacts. While all can support competitiveness, none is necessarily effective at reducing global emissions. Nor is it possible to rank order the options; effectiveness depends on the relative emissions rates, elasticities of substitution, and consumption volumes. We illustrate these results with simulations for the energy-intensive sectors of three different economies, the United States, Canada and Europe. Although most controversial, full border adjustment is usually most effective, but output-based rebating for key manufacturing sectors can achieve many of the gains. © 2012 Elsevier Inc.
Fischer C.,Resources for the Future |
Fox A.K.,ITC Inc
Energy Economics | Year: 2012
Climate policymaking faces twin challenges of carbon leakage and public sector revenue requirements. A large literature advocates the use of CO2 pricing and recycling the revenues to lower distorting taxes as a way to minimize costs. In this paper, we explore the implications of labor tax interactions for cost-effectiveness of border adjustments and other measures to cope with leakage. We find that, for plausible values of labor supply elasticities, the cost savings from revenue recycling are significant-from 15 to 25%. The cost savings from anti-leakage measures are generally smaller, but also significant, particularly for small coalitions or more binding reduction targets. Tax interactions further enhance the cost savings from border adjustments, but make other measures like rebates or exemptions less attractive. © 2012 Elsevier B.V.
Girgis A.A.,Clemson University |
Mathure S.,ITC Inc
Electric Power Systems Research | Year: 2010
The occurrence of a large disturbance in a power system can lead to a decline in the system frequency and bus voltages due to a real and reactive power deficiency or due to the formation of islands with generation-load imbalance. Load shedding is an emergency control action that can prevent a blackout in the power system by relieving the overload in some parts of the system. This paper shows that rate of change of frequency can be utilized to determine the magnitude of generation-load imbalance, while the rate of change of voltage with respect to active power can be utilized to identify the sensitive bus for load shedding. The frequency, voltages and their rate of change can be obtained by means of measurements in real-time from various devices such as digital recorders or phasor measurement units or these parameters can be estimated from the voltage data by other means such as an optimal estimation method like Kalman filtering. The rate of change of system frequency, along with the equivalent system inertia may be used to estimate the magnitude of the disturbance prior to each load shedding step. The buses with a higher rate of change of voltage may be identified as the critical ones for load shedding and load can be first shed at these buses, depending on the change in the power flow at each bus. This application is tested on the IEEE 30 bus system and the preliminary results demonstrate that it is feasible to be used in load shedding to restore system voltage and frequency. © 2009 Elsevier B.V. All rights reserved.
News Article | November 11, 2015
Align had accused competitor ClearCorrect Operating LLC of infringing several patents. The ITC, which can block products from entering the United States, ordered ClearCorrect to stop transmitting digital models produced by technicians in Pakistan to its Texas manufacturing facility. Technology companies and the entertainment industry have followed the case closely because it could affect Internet transmissions and the fight against piracy. The U.S. Court of Appeals for the Federal Circuit in Washington, D.C. said data is not a tangible good over which the ITC has authority. Common sense "dictates that there is a fundamental difference between electronic transmissions and 'material things,'" the court said in a 2-1 decision. Critics said the ITC overstepped its authority when it ordered the company to cease transmission of digital models, because U.S. law gives the commission authority over unfair practices "in the importation of articles." The ITC expanded its jurisdiction to say digital data is included in the definition of "articles." High-tech companies like Google Inc and other Internet-related groups said global Internet transmissions should flow unimpeded and the ITC should not be authorized to regulate them. But associations for recording artists and Hollywood film studios saw the ITC's decision as an effective tool to fight piracy, most of which happens through electronic downloads and streaming. On Tuesday, the appeals court majority said articles are material things and thus the commission has no jurisdiction over the case. ClearCorrect's lawyer Michael Myers said in an interview this was the "correct result because the ITC was never intended to be the policeman of Internet or TV transmissions or radio signals." A representative for Align could not immediately be reached for comment. Circuit Judge Pauline Newman dissented from the opinion, saying that the commission must have the power to block the latest forms of infringing technology. Align's shares were trading at $65.74, down $1.34 from Monday's close. The case at the ITC is No. 14-1527.
News Article | October 25, 2015
The combined market valuation of top seven Sensex companies surged by Rs 54,619 crore last week, with RIL, Infosys and TCS stealing the show with big gains. Barring ONGC, Sun Pharma and SBI, rest seven companies in the top 10 Sensex firms, including ITC, HDFC Bank, CIL and HDFC, saw rise in their market capitalisation (m-cap). The valuation of RIL zoomed by Rs 14,135.74 crore to Rs 3,09,545.09 crore, emerging as the biggest gainer among top 10 firms. Infosys’ m-cap soared by Rs 12,587.26 crore to Rs 2,63,815.58 crore and that of TCS jumped by Rs 11,871.82 crore to Rs 4,99,739.93 crore. The value of ITC shot up by Rs 7,585.04 crore to Rs 2,87,589.32 crore and that of HDFC rose by Rs 4,535.83 crore to Rs 2,11,543.03 crore. Similarly, HDFC Bank saw a gain of Rs 2,039.74 crore to Rs 2,78,978.04 crore and CIL went up by Rs 1,863.33 crore to Rs 2,15,640.68 crore. In contrast, ONGC’s value dipped by Rs 5,903.29 crore to Rs 2,20,261.09 crore. SBI lost Rs 1,591.37 crore to Rs 1,96,281.82 crore and Sun Pharma witnessed a decline of Rs 1,034.77 crore to Rs 2,12,945.55 crore. The ranking of top-10 companies as of last week was: TCS, RIL, ITC, HDFC Bank, Infosys, ONGC, CIL, Sun Pharma, HDFC and SBI. Over the past week, the benchmark index Sensex ended at 27,470.81, showing a gain of 256.21 points, or 0.94 per cent. Besides, markets ended in the green for the fourth consecutive week. First Published on October 25, 2015 11:27 am