PEPP Seminar (June 15th, 2023): “Firm Responses to Electricity Shortages: The Case of the Fukushima Nuclear Accidents” by Mr. Takanao Tanaka
2023/06/12
By Mr. Takanao Tanaka (UC Berkeley, Agricultural and Resource Economics, Ph.D. student)
Date： Thursday, June 15th, 2023
Time：16:45～18:15 (JST)
Venue: 3A308
Abstract:
The nuclear phase-out following the Fukushima Nuclear accident caused a countrywide electricity supply shock, necessitating the manufacturing plants to significantly reduce electricity usage.
Utilizing heterogeneous exposure to the regional shortage, we find that these shortages significantly curtailed manufacturing plants’ inputs, and revenue within three years, accounting for 0.5-0.7% of GDP loss.
Manufacturing plants substitute electricity with other energy sources and invest in capital that can enhance energy productivity, potentially alleviating the damages.
We will extend our analysis by estimating the production function and quantifying the welfare implications of plant adjustments and various policy scenarios.
