Browsing by Author "Thor, Malin"

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    Connected but Divided? The Impact of the Flow-Based Method on Incentives to Invest in Electricity and Wind Power in Sweden
    (2025-07-06) Bergman, Melker; Thor, Malin; University of Gothenburg/Graduate School; Göteborgs universitet/Graduate School
    Sweden needs to expand its electricity production to meet a growing demand, driven by the electrification of society. Wind power is one of the most viable options for expansion, as a renewable energy source with low costs. It does, however, tend to ”cannibalize” its own revenues, since electricity prices drop during periods of high wind quantity. The Nordic countries recently implemented the flow-based capacity calculation method, which influence prices by determining how much transmission capacity is available. It is assumed to lead to price convergence in the region. This method has the potential to reduce cannibalization and can increase the incentives to invest in wind. This study investigates how incentives to invest in electricity and wind power have changed under the new method. This is done by using time series models across Sweden’s bidding zones. The results suggest that relative incentives to invest in wind power have increased in Northern Central Sweden. Contrary
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    Negativa styrräntor och coronapandemins påverkan på avkastning på aktier
    (2022-04-14) Johansson, Josefin; Thor, Malin; University of Gothenburg/Department of Economics; Göteborgs universitet/Institutionen för nationalekonomi med statistik
    This study aims to examine how negative interest rates and the corona pandemic affect stock returns in Sweden, Norway, and Denmark. The study also controls for the effect of additional macroeconomic factors. Sweden and Denmark have had interest rates below zero, while Norway has not. Using monthly data from January 2002 to November 2021 the effect of changes in the interest rate, growth in industrial production, inflation, and the corona pandemic on stock return is examined. By applying linear regression models this study finds evidence of a negative relationship between changes in the interest rate and stock return in Sweden and Denmark. When a dummy variable for negative interest rates is included, no significant effect is found which indicates that negative interest rates do not have a specific effect on stock returns. In 2020 the outbreak of the coronavirus had a great negative impact on the economies in Sweden, Norway, and Denmark. Therefore, a dummy variable for the corona pandemic is included in the regression analysis. The dummy variable is insignificant in all the regressions which means no effect of the pandemic on stock returns is found. In addition, a negative relationship between an inflation above the target and stock return is discovered in Sweden and Denmark. Furthermore, a positive relationship between growth in industrial production and stock return is found in Sweden.