My primary interests lie in the intersection of environmental and energy economics, climate change and environmental policy. In my current research, I use varied statistical and econometric modeling techniques to study the costs and benefits of reducing nutrient loss and eutrophication in the Great Lakes Basin and further design and implement a phosphorus trading market in Canada.
Author: Haiyan Liu, Susana Ferreira, Brady Brewer (University of Georgia)
Abstract:
Using data from Oklahoma County, an area severely affected by the increase in seismicity associated with injection wells since 2009, we recover hedonic estimates of property value impacts from nearby shale oil and gas development that vary with earthquake exposure. Results suggest that the 2011 Oklahoma earthquake in Prague, OK, and generally, earthquakes happening in the county have enhanced the perception of risks associated with wastewater injection but not shale gas production. This risk perception only manifests for properties with injection wells within 2 km. Results also suggest potential private groundwater contamination risk related to injection wells, while public water is perceived to be at risk from production wells, and large earthquakes exacerbate both types of risk.
Author: Haiyan Liu, Susana Ferreira, Berna Karali (University of Georgia)
Abstract:
Recent hydro-meteorological disasters have sparked popular interest in climate change and on its role in driving these events. We focus on the information provided by one such type of disaster, hurricanes, to capital markets. Because carbon dioxide emissions from the combustion of fossil fuels are a sizeable contributor to greenhouse gas concentrations, and their reduction is a key ingredient in any climate change mitigation strategy, we focus on energy companies. We estimate the reaction of the stock market returns of the largest energy companies in the United States to the most notorious, damaging hurricanes in each of the last four decades in the United States: Hugo (1989), Andrew (1992), Katrina (2005), and Sandy (2012). The event study analysis shows that the impacts are not large. After more recent hurricanes, however, especially after Sandy the impacts differ across energy companies based on their carbon intensity, with negative cumulative average abnormal returns for coal firms relative to the oil, natural gas, and mostly the renewable industry. The stock price reactions to extreme weather events provide a signal for energy companies to plan for climate change now.
Author: Haiyan Liu (University of Georgia)
Abstract:
Using a publicly available rich individual hospital visit data from all 254 counties in Texas and a genetic matching technique, I estimate the average increased health care costs when shale gas production (boom) is present. Estimation based on data from January to June 2010 shows that hospitalization rates and per capita costs for circulatory, digestive, respiratory, and skin and sense organ illnesses were not highly different between counties that had active fracking activities and those not. However, infections to circulatory and digestive systems were more likely. There was clear heterogeneity of the impacts between age groups. People in the 0-4, 10-14, and 15-19 age groups were most affected. Sensitivity analysis indicates that our results may suffer from hidden bias due to small sample size. Future research should expand the scope of the study both in time and space, and include health conditions that manifest in the long-run.