The Devil Dwells in the Tails A Quantile Regression Approach to Firm Growth

This paper explores the firm growth rate distribution in a Gibrat’s Law context. The aim is to provide an empirical exploration of the determinants of firm growth. The work is novel in two respects. First, rather than limiting the analysis to focus on the conditional mean growth level, we investigate the complete shape of the distribution. Second, we show that the differences in the firm growth rate process between large and small firms are highly circumstantial. That industry dynamics have a substantial influence on the relationship between firm size and firm growth. The data used includes more than 9000 Danish firms from manufacturing, services and construction. We provide robust evidence indicating that firm growth studies should be less obsessed with explaining means and instead look to other parts of the firm growth rate distribution.Firm growth; quantile regression; distribution shape

The emission consequences of using biodiesel and bio ethanol as a fuel for road transport in Denmark

This article explains the emission consequences of using biodiesel and bio ethanol as a fuel for road transport in Denmark calculated in the REBECa project. For the years 2004, 2010, 2015, 2020, 2025 and 2030, two fossil fuel baseline scenarios (FS) are considered characterised by different traffic growth rates. For each FS, two biofuel scenarios (BS1, BS2) are considered with a 5.75 % biodiesel/bio ethanol share in 2010 as a common starting point. From 2010, linear growths are assumed for BS1 (10 % in 2020) and BS2 (25 % in 2030). The emissions presented in this study are vehicle based; a separate Well to Wheels (W-t-W) assessment of the total emission consequences of producing and using biofuels has been conducted in a different part of REBECa. The maximum CO2 emission difference between FS and BS2 becomes 26 % in 2030. The NOx and VOC emission variations between FS and both biofuel scenarios are 3 % or less. For CO and TSP the largest emission differences, 5 % and -12 %, respectively, occur between the FS and BS2 scenarios in 2030. The biofuel emission impacts are insignificant for NOx,VOC, CO and TSP compared to the generally large emission reductions predicted in all scenarios driven by the gradual strengthened emission standards for new vehicles, by far outweighing the emission influence from biofuels and traffic growth. The emission estimates for NOx, VOC, CO and TSP presented in this study are less certain than for CO2 due to the relatively scarce biofuel emission data implemented in the calculations. As a consequence, the obtained emission results must be assessed with care. Bearing in mind these uncertainties, the calculation approach for emissions from biofuel usage presented in this study can be used as a tool to carry out sensitivity analysis, environmental impact assessment studies, or for research purposes as such

The Emission consequences of using biodiesel and bio ethanol as a fuel for road transport in Denmark

This article explains the emission consequences of using biodiesel and bio ethanol as a fuel for road transport in Denmark calculated in the REBECa project. For the years 2004, 2010, 2015, 2020, 2025 and 2030, two fossil fuel baseline scenarios (FS) are considered characterised by different traffic growth rates. For each FS, two biofuel scenarios (BS1, BS2) are considered with a 5.75 % biodiesel/bio ethanol share in 2010 as a common starting point. From 2010, linear growths are assumed for BS1 (10 % in 2020) and BS2 (25 % in 2030). The emissions presented in this study are vehicle based; a separate Well to Wheels (W-t-W) assessment of the total emission consequences of producing and using biofuels has been conducted in a different part of REBECa. The maximum CO2 emission difference between FS and BS2 becomes 26 % in 2030. The NOx and VOC emission variations between FS and both biofuel scenarios are 3 % or less. For CO and TSP the largest emission differences, 5 % and -12 %, respectively, occur between the FS and BS2 scenarios in 2030. The biofuel emission impacts are insignificant for NOx,VOC, CO and TSP compared to the generally large emission reductions predicted in all scenarios driven by the gradual strengthened emission standards for new vehicles, by far outweighing the emission influence from biofuels and traffic growth. The emission estimates for NOX, VOC, CO and TSP presented in this study are less certain than for CO2 due to the relatively scarce biofuel emission data implemented in the calculations. As a consequence, the obtained emission results must be assessed with care. Bearing in mind these uncertainties, the calculation approach for emissions from biofuel usage presented in this study can be used as a tool to carry out sensitivity analysis, environmental impact assessment studies, or for research purposes as such

Ensiling of wheat straw decreases the required temperature in hydrothermal pretreatment

BACKGROUND: Ensiling is a well-known method for preserving green biomasses through anaerobic production of organic acids by lactic acid bacteria. In this study, wheat straw is subjected to ensiling in combination with hydrothermal treatment as a combined pretreatment method, taking advantage of the produced organic acids. RESULTS: Ensiling for 4 weeks was accomplished in a vacuum bag system after addition of an inoculum of Lactobacillus buchneri and 7% w/w xylose to wheat straw biomass at 35% final dry matter. Both glucan and xylan were preserved, and the DM loss after ensiling was less than 0.5%. When comparing hydrothermally treated wheat straw (170, 180 and 190°C) with hydrothermally treated ensiled wheat straw (same temperatures), several positive effects of ensiling were revealed. Glucan was up-concentrated in the solid fraction and the solubilisation of hemicellulose was significantly increased. Subsequent enzymatic hydrolysis of the solid fractions showed that ensiling significantly improved the effect of pretreatment, especially at the lower temperatures of 170 and 180°C. The overall glucose yields after pretreatments of ensiled wheat straw were higher than for non-ensiled wheat straw hydrothermally treated at 190°C, namely 74-81% of the theoretical maximum glucose in the raw material, which was ~1.8 times better than the corresponding yields for the non-ensiled straw pretreated at 170 or 180°C. The highest overall conversion of combined glucose and xylose was achieved for ensiled wheat straw hydrothermally treated at 180°C, with overall glucose yield of 78% and overall conversion yield of xylose of 87%. CONCLUSIONS: Ensiling of wheat straw is shown to be an effective pre-step to hydrothermal treatment, and can give rise to a welcomed decrease of process temperature in hydrothermal treatments, thereby potentially having a positive effect on large scale pretreatment costs

Field emissions of N2O during biomass production may affect the sustainability of agro-biofuels

Field emissions of N2O during cultivation of bioenergy crops may counterbalance a considerable part of the avoided fossil CO2 emissions that are achieved by fossil fuel displacemen