CO2 Speicherung in Deutschland: Eine Brückentechnologie als Klimalösung?

The technology for CO₂ capture, transport and storage (CCTS) in the power plant and industrial sector are considered as an important component in a portfolio of technologies for CO₂ reduction. However, delayed or canceled demonstration projects show that the cost of the capture unit, the necessary pipeline infrastructure and the scarce storage potential in geological formations restrict the CCTS potential. In addition, growing public resistance could lead a further reduction of the CO₂ abatement potential. In this paper the contribution of the CCTS technology for CO₂ reduction in the energy and industrial sectors in Germany is calculated using the model CCTSMOD. It turns out that the application of CCTS is economically interesting for selected industrial sectors under CO₂ certificate prices of 50 €/t and for the power sector under certificate prices of 75 €/t. Because of the limited storage potential, lack of alternative mitigation options and low cost of the deposition, a predominant use of technology in the steel and cement sector is recommended.     

Earnings persistence, accruals and managerial share ownership

We investigate the relationship between earnings persistence and a broad measure of total accruals (TACC). We propose and find that in Australia, TACC is less persistent than cash flows. We further propose that the persistence of accrual components is positively associated with the reliability of those components. However, we find that the least reliable accrual component has the greatest persistence and suggest possible reasons for this. We then investigate the relationship between earnings persistence and managerial share ownership, but find no evidence of a consistent, strong relationship. Rather, for the non-current operating accruals we find evidence consistent with incentive alignment for large firms with high operating cash flows, whereas for small firms we find evidence consistent with efficient contracting.     

Evaluating improvements in irrigation efficiency as a salinity mitigation option in the South Australian Riverland

A modelling framework incorporating relationships between agricultural production and groundwater hydrology was developed to estimate the benefits of improved irrigation efficiency in the Riverland of South Australia. Increased irrigation efficiency can generate external benefits to downstream users through reduced discharge of saline groundwater. In the Riverland these benefits are large in comparison to the direct value of the irrigation water. However, the non-exclusive and site-specific nature of these benefits makes it difficult to fully internalise them through market instruments such as salinity credits. Achieving optimal irrigation efficiency is likely to require institutional arrangements that promote collective investment and public expenditure.     

Capturing benefits from water entitlement trade in salinity affected areas: A role for trading houses?

While there is potential for substantial benefits from water entitlement trade, external effects such as salinity may mean that traders cannot capture these benefits. This paper demonstrates that by creating a trading house as a single seller of water entitlements, with trade profits distributed to buyers, it is possible to achieve an allocation of entitlements which gives a social outcome higher than that possible from atomistic competition for entitlements. Such an outcome may be comparable to an optimally set uniform charge for water entitlements, but the trading house mechanism has the advantage that it makes use of trade to generate information on the optimal level of charging in the presence of salinity.