Hydrological shocks, thermal substitution, and carbon intensity in Brazil’s interconnected electricity system
Description
This dataset contains the replication files for the article “Hydrological shocks, thermal substitution, and carbon intensity in Brazil’s interconnected electricity system”. The files include the Stata do-file, input dataset, and output structure required to reproduce Table 2, Table 3, and the heatmap coefficients reported in the manuscript. The empirical analysis uses monthly subsystem-level data for Brazil’s National Interconnected System, with the main estimations restricted to 2006–2024.
Files
Steps to reproduce
1. Download and unzip the replication package. 2. Open Stata 17 or later. 3. Set the working directory to the folder where the replication package was extracted. 4. Confirm that the input dataset is located in the data/ folder with the following name: data/national_system_spillovers_master_panel_2000_2024.dta 5. Run the Stata do-file: code/replicate_tables2_3_nova_economia.do 6. The do-file creates the required output folders automatically and reproduces the main empirical outputs reported in the manuscript. 7. The main outputs are saved in: outputs/tables/table2_national_system_co2_response.rtf outputs/tables/table3_cross_subsystem_thermal_spillovers.rtf outputs/tables/figure2_heatmap_coefficients.csv outputs/processed/national_monthly_system_dataset.dta outputs/logs/replication_tables2_3_nova_economia.log 8. Table 2 reports the national Newey-West models linking hydrological stress, thermal generation share, thermal CO2 intensity, and the official SIN CO2 factor. 9. Table 3 reports the cross-subsystem spillover models linking drought-origin subsystems to thermal generation in each receiving subsystem. 10. The heatmap coefficients used in Figure 2 are exported separately as a CSV file.