Value-at-risk estimations of energy commodities via long-memory, asymmetry and fat-tailed GARCH models
Dates
Year
2010
Citation
Aloui, C., and Mabrouk, S., 2010, Value-at-risk estimations of energy commodities via long-memory, asymmetry and fat-tailed GARCH models: Energy Policy, v. 38, iss. 5, p. 2326-2339.
Summary
The extraction of energy resources and the preservation of sensitive in-situ environmental assets are invariably mutually exclusive alternatives. The opportunity cost value of preserving the environmental assets can be assessed by recourse to resource rent taxes, and threshold values. The case study analysis carried out in this paper suggests that the preservation of these assets could be justifiable on the grounds of “acceptable sacrifice”.
Summary
The extraction of energy resources and the preservation of sensitive in-situ environmental assets are invariably mutually exclusive alternatives. The opportunity cost value of preserving the environmental assets can be assessed by recourse to resource rent taxes, and threshold values. The case study analysis carried out in this paper suggests that the preservation of these assets could be justifiable on the grounds of “acceptable sacrifice”.