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Annual Hawaii Forecast: Expansion Will Continue, Despite Global Challenges

This year has turned out a bit better than anticipated, and prospects remain good for 2016. Next year will see some easing of visitor growth, but no retreat from the high levels of activity that have built up in recent years. The construction expansion will continue, and tightening labor market conditions will support income gains. Arrayed against this positive outlook are important global challenges, ranging from the surging dollar to Chinese slowing and renewed terrorism threats.

This analysis and near-term forecast is available as a service to the public. For more detailed multi-year forecasts, subscribe to UHERO's Forecast Project.

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ThinkTech Hawaii: Matthias Fripp on Renewable Energy


UHERO Research Fellow Matthias Fripp appeared on ThinkTech Hawaii to discuss energy-saving tips and the path to 100% renewable energy in Hawaii.

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Methods of the Water-Energy-Food Nexus

This paper focuses on a collection of methods that can be used to analyze the water-energy-food (WEF) nexus. We classify these methods as qualitative or quantitative for interdisciplinary and transdisciplinary research approaches. The methods for interdisciplinary research approaches can be used to unify a collection of related variables, visualize the research problem, evaluate the issue, and simulate the system of interest. Qualitative methods are generally used to describe the nexus in the region of interest, and include primary research methods such as Questionnaire Surveys, as well as secondary research methods such as Ontology Engineering and Integrated Maps. Quantitative methods for examining the nexus include Physical Models, Benefit-Cost Analysis (BCA), Integrated Indices, and Optimization Management Models. The authors discuss each of these methods in the following sections, along with accompanying case studies from research sites in Japan and the Philippines. Although the case studies are specific to two regions, these methods could be applicable to other areas, with appropriate calibration.

Published version: Endo, A., K. Burnett, P. Orencio, T. Kumazawa, C. Wada, A. Ishii, I. Tsurita, and M. Taniguchi. 2015. Methods of the water-energy-food nexus. Water 7, 5806-5830.

WORKING PAPER


Forecasting in a Mixed Up World: Nowcasting Hawaii Tourism

We evaluate the short term forecasting performance of methods that systematically incorporate high frequency information via covariates. Our study provides a thorough introduction of these methods. We highlight the distinguishing features and limitations of each tool and evaluate their forecasting performance in two tourism-specific applications. The first uses monthly indicators to predict quarterly tourist arrivals to Hawaii; the second predicts quarterly labor income in the accommodations and food services sector. Our results indicate that compared to the exclusive use of low frequency aggregates, including timely intra-period data in the forecasting process results in significant gains in predictive accuracy. Anticipating growing popularity of these techniques among empirical analysts, we present practical implementation guidelines to facilitate their adoption.

Revised: Posted August 2, 2016

Published version: Ashley Hirashima, James Jones, Carl S. Bonham, Peter Fuleky, Forecasting in a Mixed Up World: Nowcasting Hawaii Tourism, Annals of Tourism Research, Volume 63, 2017, Pages 191-202, ISSN 0160-7383, http://dx.doi.org/10.1016/j.annals.2017.01.007.

Working Paper


The Conversation: Carl Bonham on the State Forecast Update

UHERO Executive Director Carl Bonham appears on The Conversation to talk about UHERO's State Forecast Update: Except for Weather, Outlook Shines.

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UHERO State Forecast Update: Except for Weather, Outlook Shines

Hawaii’s economic outlook continues to look bright. Tourism is pushing toward new records, and the construction upswing is building in strength. The overall expansion remains solidly on track, delivering better labor market conditions and the prospect of further household income gains. Still, in the midst of this hot and soggy summer we are pondering some ominous clouds forming out on the horizon.

This analysis and near-term forecast is available as a service to the public. For more detailed multi-year forecasts, subscribe to UHERO's Forecast Project.

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Facebook-to-Facebook: Online Communication and Economic Cooperation

Communication is often critical for economic cooperation and enhancement of trust. Traditionally, direct face-to-face communication has been found to be more effective than any form of indirect, mediated communication. We study whether this is still the case given that many people routinely use texting and online social media to conduct economic transactions. In our laboratory experiment, groups of participants communicate either (i) face-to-face, (ii) through the most popular online social network - Facebook, or (iii) using text messaging, before participating in a public goods or a trust game. While people talk significantly more under traditional face-to-face, discussions through Facebook and text messages prove as effective as face-to-face communication in enhancing cooperation and increasing trust. For all three media, discussions that focus on the game or use more positive emotion words are correlated with enhanced trust. It appears that young American adults are now just as adept at communicating and reducing social distance online as they are in person.

WORKING PAPER

 


KITV: Carl Bonham on Falling Gas Prices

UHERO Executive Director Carl Bonham appears on KITV to talk about the effects of falling gas prices on Hawaii's economy, as well as the latest State Council on Revenues general fund forecast. 

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The Conversation: Carl Bonham on the State Council on Revenues General Fund Forecast

UHERO Executive Director Carl Bonham appears on The Conversation to discuss the State Council on Revenues forecast for the 2015 fiscal year.

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Electric Vehicle Lifecycle Cost Assessment for Hawaii

This study develops a model to estimate the total cost of ownership of electric vehicles (EVs) in comparison to similar internal combustion engine (ICEVs) and hybrid electric vehicles (HEVs). The model includes issues related to purchase/finance, insurance, maintenance, resale value, future fuel prices and access to solar photovoltaic (PV). It also estimates the impact of proposed EV time-of-use rates on ownership costs.

Key findings are as follows:

  •  EVs on average cost more than their internal combustion engine (ICE) or hybrid electric vehicle (HEV) counterparts, though this gap is substantially reduced with the federal tax credit.
  •  The Nissan Leaf is cost competitive without the federal tax credit and has the lowest lifecycle vehicle cost when incorporating the federal tax credit (among all vehicles considered).
  •  Electricity rates in Hawaii are much higher than the national average. Using the Energy Information Administration’s range of forecasts for future oil prices (low, reference and high), a set of future electricity and gasoline prices are determined. The model finds that when oil prices are low or reference, lifetime fuel costs are higher for EVs than other vehicles. When oil prices are high, on the other hand, EVs offer notable cost savings while accounting for Hawaii’s historic relationship between oil prices and electric rates.
  •  Having residential PV substantially brings down the cost of EV ownership, even considering the capital expenditure for PV panels.
  •  The pilot and proposed TOU rates offered by the utility reduce lifecycle EV fuel costs, assuming charging only when rates are lowest, by an average of 10%.

Read the full report at the Electric Vehicle Transportation Center.


ThinkTech Hawaii: Makena Coffman on Sustainable Hawaii


UHERO Research Fellow Makena Coffman appeared on ThinkTech Hawaii to discuss lifecycle analysis and greenhouse gas emissions.

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Where do Social Preferences Come From?

Where do preferences for fairness come from? We use a unique field setting to test for a spillover of sharing norms from the workplace to a laboratory experiment. Fishermen working in teams receive random income shocks (catching fish) that they must regularly divide among themselves. We demonstrate a clear correlation between sharing norms in the field and sharing norms in the lab. Furthermore, the spillover effect is stronger for fishermen who have been exposed to a sharing norm for longer, suggesting that our findings are not driven by selection effects. Our results are consistent with the hypothesis that work environments shape social preferences.

WORKING PAPER


Efficient Design of Net Metering Agreements in Hawaii and Beyond

In Hawaii, like most U.S. states, households installing rooftop solar photovoltaic (PV) systems receive special pricing under net-metering agreements. These agreements allow households with rooftop solar to buy and sell electricity at the retail rate, effectively using the larger grid to store surplus generation from their panels during sunny times and return it when the sun isn’t shining. If a household generates more electricity than it consumes over the course of a month, it obtains a credit that rolls over for use in future months. Net generation supplied to the grid in excess of that consumed over the course of a full year is forfeited to the utility. 

Project Report


Water, energy, and food Security in the Asia Pacific Region

Security measures of three resources; water, energy and food are analysed for thirty two countries in the Asia Pacific region, in terms of amounts of the resource, self-production, and diversity of souces of each resource. We find that the Asia Pacific countries contain almost half of the world’s income and population, and are more self-sufficient in food production than the rest of the world, but are less self-sufficient in energy production. The self-production ratio of food within the Asia Pacific region has been decreasing since the 1960’s, though the ratio is still over 100 %. On the other hand, the self-production energy rate within the Asia-Pacific region increased from 82 % in the 1970’s up to 95 % in 2010. Diversity for all the three resources is also analyzed using surface water and groundwater for water sources; hydro power, geothermal power, solar, and biomass for energy; and cereals, vegetable, fruit, meat, and fish for food. We see high diversity of sources of water in the US and the Philippines, and a low diversity of sources of food in the US, Canada, and Indonesia.

WORKING PAPER


Balancing Opportunities and Costs in Hawaii's Increasingly Green Grid

Hawaii’s tourism-dependent economy and oil-fired power plants make it the most oil dependent state in the United States. It also has the nation’s highest electricity prices, often between 3 and 4 times the national average over the last decade. These high prices, the state’s sunny and windy climate that make it amenable to increasingly economical renewable energy, plus a relatively progressive political culture have pushed the state to adopt an ambitious goal of being 100 percent renewable by 2045. Focusing mainly on the state’s largest grid on Oahu, where most people live, we discuss the cost structure of the current electricity system, the potential benefits and challenges of growing the share of renewable energy, and make a few policy suggestions. In particular, we argue that all homes and businesses should be given an opportunity to buy and sell electricity at the marginal cost of generation. Variable pricing could greatly reduce the cost of renewable energy, and perhaps seed development of Hawaii as a technology center focused on batteries and smart machines that can help shift electricity demand to align with the variable supply of solar and wind energy.

Working Paper


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