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on Energy Economics |
| By: | Imelda (Geneva Graduate Institute (IHEID), Department of International Economics); Anna Lou Abatayo (Environmental Economics and Natural Resources Group, Wageningen University and Research); Budy Resusodarmo (Australian National University, Arndt-Corden Department of Economics, Crawford School of Public Policy) |
| Abstract: | The timing of payment can enhance salience, making customers more price-responsive when paying before consumption rather than after. This study examines Indonesia’s nationwide switch to prepaid electricity metering, impacting over 40 million households. We find that prepaid metering users are twice as price-elastic as postpaid users. We also find a positive willingness to pay for prepaid metering, suggesting consumer welfare gains. As prices rise, prepaid metering reduces excess burden by 1.5% and CO2 emissions by nearly 6%. These findings suggest prepaid meters can support climate policy goals by promoting energy conservation without imposing significant burdens on consumers. |
| Keywords: | electricity; prepayment; elasticity; salience; energy conservation |
| JEL: | Q41 Q48 I30 |
| Date: | 2024–12–17 |
| URL: | https://d.repec.org/n?u=RePEc:gii:giihei:heidwp22-2024 |
| By: | Till Fladung; Anna Saile |
| Abstract: | During the energy crisis in 2022, electricity prices in Germany soared to unprecedented levels. To explore the drivers of the high electricity prices, we develop an electricity dispatch model that simulates hourly equilibrium prices under the assumption of perfect competition. We then extend this model to account for firms exercising market power. By comparing the outcomes of the perfect competition and Cournot competition models with actual market data, we demonstrate that market power may contributed to higher prices during the crisis, elevating them beyond what rising input costs alone would justify. |
| Keywords: | Energy Economics, Market Power, Energy Crisis, Electricity Prices, Cournot Competition |
| JEL: | Q41 Q43 L13 D43 L94 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ifowps:_414 |
| By: | Emelianova, Polina (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)); Namockel, Nils (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)) |
| Abstract: | As part of the German energy transition, the increasing adoption of electricity-driven technologies in enduse sectors has become a key political priority. Decentralized flexibility from assets such as electric vehicles and heat pumps influences electricity price formation, raising new challenges related to the redistribution of welfare gains, not only between producers and consumers but also across different groups within these two categories. This paper addresses two research questions: How does decentralized flexibility affect the redistribution of total system welfare between producers and consumers in the wholesale electricity market? And how do varying degrees of flexibility impact electricity costs across different user groups in the transport and heating sectors? To explore these questions, we enhance a European high-resolution dispatch model, focusing specifically on Germany, and incorporate a range of flexibility options and heterogeneous end-user groups. We further simulate multiple use cases with varying degrees of flexibility in the road transport and heating sectors. Our findings reveal that while total system welfare improves slightly, increased flexibility redistributes welfare from producers to consumers. This redistribution benefits consumers as an aggregated group by reducing electricity procurement costs, regardless of whether they provide flexibility. Among the flexibility options analyzed, electric vehicles - particularly through bidirectional charging - demonstrates a greater potential for welfare gains compared to heat pumps. However, this dynamic intensifies competition with centralized assets like utility-scale batteries. In the transport sector, flexibility leads to notable variations in electricity costs based on charging behaviors, whereas in the heating sector, increased flexibility promotes cost convergence across different user groups. |
| Keywords: | Flexibility; Welfare Effects; Energy System Modeling; Energy Transition; End-use Sectors |
| JEL: | C61 D47 O33 Q41 Q48 |
| Date: | 2024–11–25 |
| URL: | https://d.repec.org/n?u=RePEc:ris:ewikln:2024_009 |
| By: | Magdalena Cornejo (UTDT-CONICET); Michelle Hallack (Florence School of Regulation); Matias David (Inter-American Development Bank) |
| Abstract: | This paper investigates the role of renewable energy adoption in mitigating the impact of international fossil fuel shocks on local inflation. We focus on LatinAmerica and the Caribbean (LAC), a region that has the highest share of renewables in its electricity matrix, but with significant heterogeneities across countriesand over time. Our findings reveal that the renewable adoption on electricity generation has had a dampening effect of international fossil fuel price shockson local inflation. The findings underscore the positive externality of renewable energy investment and its potential to enhance economic stability. Results arerobust to different speeds of renewables adoption and matrix composition. |
| Keywords: | Energy transition; Crude oil; Gas; Inflation; LAC |
| JEL: | Q42 E31 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:aoz:wpaper:345 |
| By: | Michael D. Bauer; Daniel Huber; Eric Offner; Marlene Renkel; Ole Wilms |
| Abstract: | We identify corporate commitments for reductions of greenhouse gas emissions—green pledges—from news articles using a large language model. About 8% of publicly traded U.S. companies have made green pledges, and these companies tend to be larger and browner than those without pledges. Announcements of green pledges significantly and persistently raise stock prices, consistent with reductions in the carbon premium. Firms that make green pledges subsequently reduce their CO2 emissions. Our evidence suggests that green pledges are credible, have material new information for investors, and can reduce perceived transition risk. |
| Keywords: | climate finance; text classification; event studies; transition risks |
| JEL: | G14 G32 Q54 Q56 |
| Date: | 2024–11–20 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedfwp:99236 |
| By: | Thomas Wein (Leuphana Universität Lüneburg, Institut für Volkswirtschaftslehre) |
| Abstract: | In recent years, CO2 emissions from building fires and traffic have been the focus of political debate: from 2035, combustion vehicles are to be banned, heating systems are to be operated with at least 65% renewable energy sources . Certificate trading is being extended to buildings and transport, a speed limit on motorways is considered necessary for climate policy, vehicle tax could take greater account of CO2 emissions, and the company car privilege should be dropped. The most important criterion for evaluating these measures is static efficiency, i.e. the most cost-effective avoidance of the targeted emission reduction. Against this background, a comprehensive certificate trading system should be created, which, in terms of its quantity restriction, is strictly aligned with the climate policy goals of the Paris Agreement. The EU and Germany are on the right track here. However, the administrative and other pricing mechanisms are then obsolete. |
| Keywords: | Zertifikatshandel, Ordnungsrechtliche Instrumente, statische Effizienz |
| JEL: | L91 H23 D62 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:lue:wpaper:431 |
| By: | Dittmann, Bente; Lauter, Tobias; Prokopczuk, Marcel; Sibbertsen, Philipp |
| Abstract: | In this paper, we provide new evidence on the determinants of EU emission allowance prices by analyzing the most recent time period, i.e. phases III and IV. We consider energy (oil, natural gas, coal) and electricity prices as well as profit spreads of marginal power generation (clean dark spread, clean spark spread) using various modeling approaches. We find that none of the approaches that have been proposed in the early literature on carbon pricing is suitable to explain the allowance price in more recent samples. Among the variables, crude oil appears to be the most important market fundamental, as it explains the largest share of variance on its own. However, the explanatory power of all variables diminishes compared to what has been documented before. Previous literature shows that the market fundamentals are able to explain about 30% of the variation of EU emission allowances in phase I, while we show that the explanatory power drops to below 5% in the more recent trading phases III and IV.We conjecture that as more and more industries fall under the regulation, the economic mechanics have fundamentally changed. |
| Keywords: | EU ETS, EUA price fundamentals, Carbon price |
| JEL: | C22 C32 G13 Q49 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:han:dpaper:dp-732 |
| By: | Alex, Ken; Lamm, Ted; Kammen, Daniel M. |
| Abstract: | Reducing air pollution from automobiles is a climate and public health imperative. Transportation is the “single largest source of CO2 emissions” in California and the second largest source nationwide. State leaders recognize the need for zero-emission vehicles to achieve statewide carbon neutrality. Millions of electric vehicles (EVs) are expected on American roads in the coming decade. California alone will require over two million publicly accessible EV chargers to support over 15 million EVs by 2035, and nationwide over 28 million total chargers will be needed by 2030. To date, public charging infrastructure investment has not prioritized lower-income and black and brown communities, and electrification has mostly benefitted higher-income, whiter communities. Federal and state funding programs for charging infrastructure have begun directing vehicle and charging investment to lower-income communities, rural communities, and areas at greatest risk of environmental harm, but this investment must be met with equity-oriented decision-making tools. |
| Keywords: | Law |
| Date: | 2024–11–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsrrp:qt4hj979ws |
| By: | Melanie Marten; Thomas Michael Rowley (CY Cergy Paris Université, THEMA) |
| Abstract: | This paper investigates the effects of the introduction of Article 173 of the 2015 Energy Transition for Green Growth (LTECV) Act on French firm-level manufacturing outcomes, with a specific focus on international trade dynamics. The carbon disclosure regulation requires institutional investors and asset managers to publicly disclose the carbon footprint of their portfolios, as well as their exposure to climate risks and their mitigation strategies. Employing a difference-in-differences approach and merging French corporate tax returns and customs data with OECD data on the carbon content of trade (TeCO2), findings show that a 10 percentage point increase in exposure to the regulation is associated with a statistically significant 5.84% drop in firm-level imported carbon emissions. Nevertheless, exposure is also associated with decreases in firm size and in trade activity. Effects are also largely driven by the more financially constrained firms. Findings highlight that increasing investor scrutiny may constrain the continued access to external financing for firms within their portfolios and impact the conduct of daily business activities of these exposed firms. Overall, the paper underscores the real effects of policies that aim to increase climate transparency to help steer investor capital towards less financially risky and more sustainable assets and projects. |
| Keywords: | PCarbon Embodied in Imports, Global Value Chains, Environmental Policy, Corporate Finance |
| JEL: | F18 Q56 Q58 G23 G30 |
| URL: | https://d.repec.org/n?u=RePEc:ema:worpap:2024-13 |
| By: | Miriam Stumpe (Paderborn University); David Rößler-von Saß (Freie Universtität Berlin); Natalia Kliewer (Freie Universtität Berlin); Guido Schryen (Paderborn University) |
| Abstract: | This paper presents a holistic framework for the transition from diesel to electric bus networks, crucial for meeting EU regulations targeting 100\% zero-emission urban buses by 2035. We employ a two-phase solution approach: first, solving the Charging Location and Electric Vehicle Scheduling Problem (CLEVSP) to generate vehicle schedules for full electrification; second, addressing the multi-period transition planning problem to minimize the total cost of ownership for the electrified fleet. Our experiments show that CLEVSP-generated schedules significantly outperform traditional methods, resulting in lower costs. Additionally, gradual transition plans reduce emissions by up to 85\% compared to a diesel-only scenario. We find that vehicle rotations with long distances and sufficient idle time are prioritized for electrification, enabling earlier emission reductions and cost savings. This highlights the importance of adopting vehicle scheduling tailored for electric buses, rather than relying on legacy diesel schedules. |
| Keywords: | electric bus; multi-period planning; electric vehicle scheduling; fleet replacement; charging infrastructure |
| JEL: | R4 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:pdn:dispap:127 |
| By: | Alyssa R. Pfadt-Trilling; Marie-Odile P. Fortier |
| Abstract: | Effective climate action depends on dismantling the assumptions and oversimplifications that have become the basis of climate policy. The assumption that greenhouse gases (GHG) are fungible and the use of single-point values in normalizing GHG species to CO2-equivalents can propagate inaccuracies in carbon accounting and have already led to failures of carbon offset systems. Separate emission reduction targets and tracking by GHG species are recommended to achieve long-term climate stabilization. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.08053 |
| By: | Yannik Pflugfelder; Aiko Schinke-Nendza; Jonathan Dumas; Christoph Weber (Chair for Management Sciences and Energy Economics, University of Duisburg-Essen) |
| Abstract: | Accurate forecasting of solar PV generation is critical for integrating renewable energy into power systems. This paper presents a multivariate probabilistic forecasting model that addresses the challenges posed by imbalanced data resulting from day and night-time periods in solar photovoltaic (PV) generation. The proposed approach offers a robust and accurate method for predicting solar PV output by incorporating forecast updates and modeling the temporal interdependencies. The methodology is applied to a case study in France, demonstrating effectiveness across different spatial granularities and forecast horizons. The model uses advanced data handling methods combined with copula models, resulting in improved Energy Scores and Variogram-based Scores. These improvements underscore the importance of addressing imbalanced data and utilizing multivariate models with repeated updates to enhance solar forecasting accuracy. This work contributes to advancing forecasting techniques essential for integrating renewable energy into power grids, supporting the global transition to a sustainable energy future. |
| Keywords: | Multivariate probabilistic forecasts, Forecast updates, Solar generation, Copula |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:dui:wpaper:2407 |
| By: | Abdel Mokhtari (emlyon business school, 144 avenue Jean Jaurès, 69007, Lyon, France); Richard Ruble (emlyon business school, CNRS, Université Lumière Lyon 2, Université Jean Monnet Saint-Etienne, GATE, 69007, Lyon, France) |
| Abstract: | We study incentives to invest in electricity generation capacity if an incumbent using nuclear power competes with an endogenous number of entrants using intermittent renewable energy sources. The intermittence of renewables makes the incumbent less aggressive, and the incumbent accommodates if the efficiency difference between technologies is not too large. We analyze France’s long-running subsidy scheme, the ARENH, through the prism of our model. This policy achieves its aim of making product market outcomes more competitive through an endogenous entry channel, but if investments in nuclear power are restarted then pursuing such a scheme would run the risk of facilitating deterrence. |
| Keywords: | Free entry, Intermittence, Renewable energy, Stackelberg leadership |
| JEL: | D24 D61 L13 Q41 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:gat:wpaper:2422 |
| By: | Breitschopf, Barbara; Billerbeck, Anna |
| Abstract: | This paper investigates potential drivers of technology and financial investments in energy transition technologies (ETT). The empirical findings rely on three online surveys, one conducted in March and the other two in May 2024 in Germany. The paper presents the descriptive results of the surveys. Respondents reveal a significant engagement in energy-efficient appliances and building measures, followed by roof-mounted PV systems and heat pumps. Notably, financial investments in renewable energy projects remain low. The general approval for the energy transition is high but declines when associated with burdens. Co-ownership of local energy suppliers or municipalities in energy projects enhance investment willingness of citizens, emphasizing the importance of trust in local policymakers. Key non-monetary factors influencing investment decisions include nonmonetary costs such as stress and physical efforts, as well as non-monetary benefits such as ease of use, energy independence, or environmental benefits. The paper highlights that while monetary costs are crucial, non-monetary aspects, such as efforts, individual benefits, followed by social benefits, significantly motivate investments in ETT, underscoring the complexity of factors influencing financial participation in energy transition. |
| Keywords: | financial participation, energy transition, preferences, design elements, nonmonetary effects |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:fisisi:306343 |
| By: | Pia Andres; Ralf Martin; Maxwell Read; Esin Serin; Arjun Shah; Anna Valero |
| Abstract: | This paper presents new evidence to inform industrial strategy prioritisation of clean energy technologies in the UK. It focuses on seven technology categories relevant for reducing emissions across power, heat and industry. We present a granular analysis at the sub-technology level to identify opportunities for growth, both nationally and sub-nationally, and consider strategic importance for the UK. A 'green industrial policy matrix' summarises our findings and points to CCUS and offshore wind as particular areas where the UK has current and future potential strengths, and where there is potential for growth that is regionally balanced - though all seven categories contain specific technologies that could represent opportunities for the UK. Our methodology can be extended for other technologies and sectors. |
| Keywords: | Green Energy , Industrial Strategy, Technological change |
| Date: | 2024–11–25 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepsps:48 |
| By: | Beatrice Negro; Giovanni Dosi; Maria Enrica Virgillito |
| Abstract: | The adverse effects of the climate crisis call for a structural change in the economy toward less environmentally disruptive development pathways. To address decarbonisation, hydrogen seems to be the most promising element to complement renewable energy. However, the dominant technology for its production relies on hydrocarbons, while a radical transition would require the establishment of a green hydrogen technological paradigm. Green hydrogen production is also hampered by critical materials and geographic attributes that only some countries would meet. This may constitute a window of opportunity for latecomers' countries to pursue green industrialization or a condition for their exploitation. So, what are the drivers behind hydrogen technologies production? And, how do countries learn and consequently specialise? We tackle these questions investigating the technologies, products, and processes behind hydrogen production. Using trade data, we examine the pattern of countries' specialisation and dependence on raw materials. Our findings indicate that hydrogen technologies market is undergoing a transformation in their composition rather than expansion. Moreover, looking at the critical raw materials content of green hydrogen technology, we find a negative relationship between dependence on critical raw materials and the autonomous specialisation of countries in their related production. |
| Keywords: | ecological transition, hydrogen paradigms, specialisation, dependency, mission-oriented policies |
| Date: | 2024–12–18 |
| URL: | https://d.repec.org/n?u=RePEc:ssa:lemwps:2024/33 |
| By: | Baptiste Rigaux; Sam Hamels; Marten Ovaere (-) |
| Abstract: | As renewable energy grows, flexible electricity demand becomes essential. We conducted a field experiment with nine heat pumps in well-insulated homes near Ghent, Belgium. During 287 flexibility interventions, we remotely deactivated heating until indoor temperatures reached predefined thresholds or households manually overruled the intervention. After initiating a flexibility event, the heat pump power is initially lowered by 250Won average per unit in the fleet. As some heat pumps in the fleet reactivate, they consume more power to restore their threshold temperatures, triggering a rebound effect that gradually reduces net power savings achieved. On average, net power savings become zero after 18 hours, followed by a rebound period. Overall heat pump consumption was reduced by 1 kWh per event, stabilizing 36 hours after the event start. If flexibility activation is timed strategically, up to €1.1 can be saved through price arbitrage, assuming energy-crisis-level wholesale prices. Colder weather significantly influences savings, by increasing heat pump power available for flexibility but also amplifying rebound effects. This flexibility came with moderate comfort impacts: on average, indoor temperatures were 0.38°C lower during interventions. However, 19% of interventions were manually overruled when larger temperature drops occurred, with households citing discomfort, illness, or occupancy as factors on an online dashboard. These findings suggest that flexible residential heating can support renewable energy integration with moderate comfort impacts. |
| Keywords: | Electricity Demand; Flexibility; Direct Load Control; Field Experiment; Household; Heat Pump; Thermal Comfort |
| JEL: | Q40 Q41 D12 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:rug:rugwps:24/1101 |
| By: | Schwarzbauer, Wolfgang; Bittó, Virág; Koch, Philipp; Steininger, Jonathan |
| Abstract: | Global value chains (GVCs) play a crucial role in today's international trade. High value-added activities tend to cluster at the start and the end of GVCs, resulting in a U-shaped relationship across production steps known as the "smile curve". The distribution of CO2 emissions along the value chain, however, is relatively unexplored. Here, we map embodied CO2 emissions in GVCs to test whether emissions are distributed differently across production stages than value-added. We find that activities with high high emissions per unit of labour compensation cluster at early stages (e.g. energy production, mining), while late stages (e.g. retail trade) exhibit lower emission intensities. This results in a downward-sloping emissions curve with tentative evidence of a frown-curve pattern. We explore several examples at different levels of aggregation and provide an interactive platform to explore the mapping of value-added and emissions across GVCs. |
| Abstract: | Globale Wertschöpfungsketten (GVCs) spielen heute eine entscheidende Rolle im internationalen Handel. Aktivitäten mit hoher Wertschöpfung tendieren dazu, sich am Anfang und am Ende von Wertschöpfungsketten zu konzentrieren, was zu einem U-förmigen Verlauf entlang der Produktionsschritte führt - der sogenannten "smile curve". Die Verteilung der CO2-Emissionen entlang der Wertschöpfungskette ist jedoch relativ unerforscht. Hier bilden wir die eingebetteten CO2-Emissionen in GVCs ab, um zu testen, ob Emissionen entlang der Produktionsstufen anders verteilt sind als die Wertschöpfung. Wir stellen fest, dass Aktivitäten mit hohen Emissionen pro Einheit Arbeitsentgelt in den frühen Stufen (z.B. Energieproduktion, Bergbau) konzentriert sind, während die späten Stufen (z.B. Einzelhandel) geringere Emissionsintensitäten aufweisen. Dies führt zu einer abwärts gerichteten Emissionskurve mit indikativen Hinweisen auf einen invers U-förmigen Verlauf. Wir untersuchen mehrere Beispiele auf unterschiedlichen Aggregationsebenen und stellen eine interaktive Plattform zur Verfügung, die es ermöglicht die Verteilung von Wertschöpfungs- und Emissionsbeiträgen entlang von verschiedenen GVCs zu erkunden. |
| Keywords: | Greenhouse gas emissions, Sustainable Development, Transition towards green economy, Global Value Chains, Multi-Regional Input-Output Model, International Trade, Climate change |
| JEL: | C67 F18 F62 F63 F64 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ecoarp:306347 |
| By: | Mamdouh Abdelkader; Lilia Karnizova (Department of Economics, University of Ottawa, Canada) |
| Abstract: | As climate change risks escalate, central banks are increasingly called upon to address this global challenge. Yet, estimates of the environmental impact of monetary policy are limited, leaving a significant gap in understanding how monetary policy interacts with climate change. In this paper, we aim to fill this gap by providing new evidence based on U.S. data. We identify monetary policy shocks using the recursiveness assumption and estimate their effects on domestic carbon dioxide emissions. Three key findings emerge from our analysis. First, an unexpected monetary policy tightening produces a persistent yet transitory negative effect on total CO2 emissions. This finding holds consistently across different model specifications, periods, and monetary policy indicators, underscoring its robustness. Second, the effects of monetary policy vary significantly across major polluter types. Emissions in the industrial sector, closely tied to production activities, show the strongest response. In contrast, emissions in the residential and commercial sectors are weakly affected, likely due to the essential nature of energy services. Finally, the contribution of U.S. monetary policy shocks to explaining domestic CO2 emissions fluctuations has been modest. Since central banks have limited capacity to directly influence environmental outcomes, monetary policy should be viewed as complementary to fiscal policy and environmental regulation in addressing climate change. |
| Keywords: | CO2 emissions, Carbon emissions, Monetary policy shocks, Climate change, Environmental policy, Recursive VAR. |
| JEL: | E52 E58 Q50 Q51 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ott:wpaper:2406e |
| By: | Ingrid Kubin (Vienna University of Economics and Business); Thomas O. Zoerner (Oesterreichische Nationalbank) |
| Abstract: | We augment an overlapping generations endogenous credit cycle model with an environmental sector and study the interplay between fiscal and financial environmental regulation, which ultimately affects environmental quality, macroeconomic stability, and income distribution. We define environmental quality as the amount of pollution emitted, which can be regulated either by financial constraints on polluting projects (environmental haircuts) or by tax-financed investment in abatement and improvement technologies. We find that environmental haircuts and environmental taxes each affect emissions and income distribution in unique ways, with interaction effects that reveal trade-offs between economic stability, income, and environmental outcomes. Compared to scenarios in which only financial regulations are implemented, the introduction of a supplementary environmental tax on emissions maintains similar environmental standards, but leads to higher total income and capital per worker. However, this shift in income distribution favors green investors, while the older generation, which relies more on capital income, may experience an overall decrease in net income. |
| Keywords: | Green transition, environmental regulation, economic stability, income distribution, nonlinear model |
| JEL: | C61 C62 E32 Q52 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:wiw:wiwwuw:wuwp373 |
| By: | Baute, Sharon |
| Abstract: | Europe's transition towards climate neutrality by 2050 requires major shifts in the structure of our economy and society - and wide societal backing. But how do citizens perceive climate change and what kind of EU climate policies do they support? New survey among German vot- ers shows that Germans generally prefer policy packages that (1) target financial support within the renewable energy sector, (2) include social investment policies, (3) are financed by increasing taxes on the wealthy, and (4) distribute resources across EU member states based on popu- lation size. Based on these findings, this policy paper formulates recom- mendations for climate policy making - inter alia to - couple climate mitigation policies with social investment or compensatory measures for lower-income households. |
| Abstract: | Klimaneutralität ist in Europa bis 2050 nicht ohne erhebliche Veränderungen in unserer Wirtschafts- und Gesellschaftsstruktur zu erreichen - und nicht ohne breite gesellschaftliche Unterstützung für diese Transformation. Doch wie nehmen die Bürger:innen den Klimawandel wahr - und welche Art von EU-Klimapolitik findet gesellschaftliche Zustimmung? Einer neuen Umfrage zufolge bevorzugen deutsche Bürger:innen allgemein Maßnahmenpakete, die (1) Subventionen vor allem im Bereich der erneuerbaren Energien einsetzen, (2) sozialinvestive Maßnahmen beinhalten, (3) durch Steuererhöhungen für Reiche finanziert werden und (4) EU-Mittel auf Grundlage der Bevölkerungsgröße auf die Mitgliedstaaten verteilen. Ausgehend von diesen Befunden werden im vorliegenden Policy Paper Implikationen und im Empfehlungen für die Klimapolitik formuliert. |
| Keywords: | Climate policy, EU environmental policy, Public opinion, Germany |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cexpps:307118 |
| By: | Fernando Navajas; Julián Puig |
| Abstract: | The paper models the implementation of increasing block pricing (IBP) coupled with household group segmentation by incomes (high, middle and low) and find necessary conditions for use of progressive block prices and fixed charges based on the distributional characteristics of blocks. It evaluates the recent combination of IBP and group segmentation in residential electricity and natural gas in Argentina using current rate schedules for the Metropolitan Area of Buenos Aires and microdata from the latest Household Expenditure Survey. The findings indicate that those conditions are not validated by the data and estimates and do not justify IBP of fixed charges and marginal prices across blocks within a given household group. Additionally, inconsistencies are observed across groups, with the rate structure (fixed charges for both electricity and natural gas, and block prices for electricity) of the middle-income group being unduly close to that of the low-income group. The analysis provides some justification for the discrimination in natural gas (distribution) prices between Buenos Aires City and Greater Buenos Aires within a given group, due to income disparities between households in both areas. The study suggests a direction of reform towards smaller dispersion of energy prices across groups so as to reduce subsidies and advocate for a shift from IBP to a Two-Part Tariff, incorporating lump sum redistribution across groups. |
| JEL: | D31 H23 L11 L51 L94 L95 L98 Q41 Q48 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:akh:wcefip:047 |
| By: | X. Liu; H. Yu |
| Abstract: | This paper evaluates the impact of a mandatory shutdown policy of small-capacity coal power plants during China's $11^{th}$ Five-Year Plan (2006--2010) on under-5 mortality. We collect information on 2181 coal power plants that operated during 2000--2010 and compile a unique dataset combining coal power plants, county-level under-5 mortality and socioeconomic variables, high spatial resolution data of PM$_{2.5}$ and SO$_2$ and meteorological conditions. We model the impacts of air pollution on under-5 mortality using IV-Lasso method, with distance-weighted sums of retired capacity and high altitude wind conditions as instrument candidates for air pollutants. Our estimates imply the phase-out policy saved around 46, 000 lives during the $11^{th}$ Five-Year Plan period. We also find heterogeneity in policy effects across regions. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.10728 |
| By: | Le Moigne, Mathilde; Lepot, Simon; Ossa, Ralph; Ritel, Marcos; Simon, Dóra Zsuzsanna |
| Abstract: | We show that climate policy can unlock large environmental gains from trade by inducing economies to specialize according to their environmental comparative advantage. We make this point by exploring the effects of a carbon tax in a quantitative trade model. Our main result is that the environmental gains from trade account for over one-third of the total reduction in greenhouse gas emissions brought about by the carbon tax. This finding holds for a wide range of carbon tax rates and coverages. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:wtowps:306822 |
| By: | Jan Nill |
| Abstract: | The EU agreed to phase out fossil fuel subsidies (FFS). Nevertheless, FFS strongly increased in 2022 to address the effects of the energy price spikes reached during the energy crisis. Phasing out FFS is therefore also a critical element analysed as part of the European Semester. This paper provides a detailed picture of recent trends and discusses the methodological challenges in analysing FFS. The majority of FFS in the EU are usually tax-related measures, though in the responses to the energy crisis price-related transfers have been dominant. As the part of FFS in price-related support measures cannot always be identified, the crisis-related FFS in EU Member States are likely to be underestimated. Aggregating Member States projections of those FFS in their budgets indicates that the strong rise in directly targeted FFS amounts in 2022 and to a lesser extent in 2023, in particular to support households, is likely to be temporary. Going forward, still around half of EU Member States have only limited or no known plans to phase-out FFS. There are different and partly complementary approaches to define and measure FFS. All approaches have specific challenges. Further reflection is needed on whether all public support which benefits fossil fuels should be treated the same way, or whether particular attention should be paid to FFS linked to a clear economic advantage provided to fossil fuels over other fuels and energy sources. Also, the definition and scope of FFS related to income support may require further scrutiny. The same holds for ways to improve comparability of tax-related FFS, and a possible combined analysis of FFS and implicit and explicit carbon pricing. Finally, further reflection is needed how to take account of the EU and international qualifying criteria for the phase out of fossil fuel subsidies. |
| JEL: | C8 H2 H5 Q3 Q4 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:euf:dispap:214 |
| By: | Armin Schmutzler |
| Abstract: | By affecting prices and thereby market shares of green and brown firms, product innovations and process innovations influence industry emissions even when they do not directly affect the emission intensity of the innovating firm. Using a differentiated two-stage duopoly, this paper therefore analyzes the effects of environmental policy on such innovations, and it asks how these effects differ from each other and from those of environmental innovations that directly reduce the emission intensity. The paper investigates the determinants of R&D investments, showing in particular that incentives for certain types of potentially beneficial innovations may be negative. Moreover, it analyzes how suitable policies can foster green innovation. |
| Keywords: | Innovation, environmental policy, imperfect competition |
| JEL: | Q55 L13 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:zur:econwp:462 |
| By: | Miguel Cárdenas Rodríguez; Emma Schwentner; Edoardo Falchi; Andrzej Suchodolski; Rodrigo Pizarro |
| Abstract: | This paper addresses the need for a comprehensive global dataset on national greenhouse gas (GHG) emission inventories to support policy analysis and track progress towards climate change mitigation goals. While numerous datasets exist, gaps in official data, particularly from developing countries, hinder their utility. The paper develops a methodology to compile a complete dataset, prioritising official data reported to the United Nations Framework Convention on Climate Change (UNFCCC) and the OECD. To fill gaps, estimates based on unofficial datasets, such as PRIMAP, will be used, as they demonstrate the greatest alignment with official data in terms of emission levels, trends and categories. As official data become available under the Enhanced Transparency Framework of the Paris Agreement, estimated values would be replaced and additional data collection would not be necessary. The dataset disaggregates emissions by IPCC categories, gases, countries, and years, distinguishing between official data points and estimates. This harmonised dataset enhances transparency, improves data collection efficiencies, and enables more robust evidence-based policy analysis. Moving forward, the paper recommends refining the dataset with sector-specific data and fostering collaboration with international organisations to improve the reliability and consistency of global GHG emissions data and indicators. |
| Keywords: | climate change mitigation, emission sources, Greenhouse gas emissions, national inventories, official data |
| JEL: | C82 E01 Q54 Q56 |
| Date: | 2024–11–29 |
| URL: | https://d.repec.org/n?u=RePEc:oec:envaaa:252-en |
| By: | Amaral, Francisco; Soufflet, Morgane; Zdrzalek, Jonas; Zetzmann, Steffen |
| Abstract: | In this study, we analyze the effect of energy performance certificates on sales prices and rents on the basis of millions of sales and rental listings in Germany in order to understand the causes of the stagnation of the refurbishment rate in the German housing stock. The results show that higher energy efficiency is reflected in higher prices and rents. Sales and rent premiums for energy-efficient buildings are higher when using the so-called Bedarfsausweis (energy demand certificate), which is based on an expert evaluation of the property's energy status. However, these premiums are noticeably lower when using the so-called Verbrauchsausweis (energy consumption certificate), which relies on the meter readings from the past three years. The rent premium for energy efficient dwellings can be fully explained by the energy cost savings when switching from low to high energy efficiency using the Bedarfsausweis. This suggests that when accurate information is available, market participants correctly internalize energy cost savings. Comparing the sale price premium with refurbishment costs suggests that refurbishment is financially viable, but only if the Bedarfsausweis is used. Despite mandatory energy performance certificates, a significant portion of property listings do not provide this information, suggesting the need for stricter enforcement. Policy recommendations: Strengthen the quality of energy performance certificates by focusing on the Bedarfsausweis and phasing out the Verbrauchsausweis. In addition, strengthen compliance with reporting requirements for energy performance certificates by introducing a sanction mechanism. This will increase transparency and can therefore contribute to an increase in the refurbishment rate. |
| Abstract: | In dieser Studie analysieren wir auf Grundlage von Millionen Verkaufs- und Mietinseraten in Deutschland den Effekt von Energieausweisen auf Verkaufspreise und Mieten, um die Ursachen für die Stagnation der Sanierungsrate im Wohnungsbestand zu verstehen. Die Ergebnisse zeigen, dass höhere Energieeffizienz in höheren Preisen und Mieten widergespiegelt wird. Verkaufs- und Mietprämien für energieeffiziente Gebäude sind höher, wenn der Bedarfsausweis verwendet wird, der auf einer Expertenbewertung des energetischen Zustands der Immobilie basiert. Die Prämien sind jedoch deutlich niedriger, wenn der Verbrauchsausweis verwendet wird, der sich auf die Energieverbrauchsdaten der letzten drei Jahre stützt. Die Mietprämie für energieeffiziente Wohnungen kann vollständig durch die Energiekosteneinsparungen beim Wechsel von niedriger zu hoher Energieeffizienz erklärt werden, wenn ein Bedarfsausweis verwendet wird. Dies deutet darauf hin, dass Marktteilnehmer Energiekosteneinsparungen korrekt einpreisen, wenn genaue Informationen verfügbar sind. Der Vergleich von Verkaufspreisen mit energetischen Sanierungskosten legt nahe, dass eine Sanierung finanziell rentabel ist, aber nur, wenn der Bedarfsausweis verwendet wird. Trotz der Pflicht zu Energieausweisen enthält ein erheblicher Teil der Immobilienanzeigen diese Informationen nicht, was auf die Notwendigkeit strengerer Durchsetzung hindeutet. Politikempfehlungen: Verbesserung der Qualität der Energieausweise durch die Etablierung des Bedarfsausweises als Standard und die schrittweise Abschaffung des Verbrauchsausweises. Darüber hinaus sollte die Einhaltung der Meldepflichten für Energieausweise durch die Einführung eines Sanktionsmechanismus gestärkt werden. Dies wird zu mehr Transparenz führen und kann somit zu einer Steigerung der Sanierungsrate beitragen. |
| Keywords: | Energy efficiency, German Housing Markets, Energy Performance Certificates, Refurbishment, Energieeffizienz, Deutsche Wohnungsmärkte, Energieausweise, Sanierung |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkpb:306857 |
| By: | Amaral, Francisco; Soufflet, Morgane; Zdrzalek, Jonas; Zetzmann, Steffen |
| Abstract: | In dieser Studie analysieren wir auf Grundlage von Millionen Verkaufs- und Mietinseraten in Deutschland den Effekt von Energieausweisen auf Verkaufspreise und Mieten, um die Ursachen für die Stagnation der Sanierungsrate im Wohnungsbestand zu verstehen. Die Ergebnisse zeigen, dass höhere Energieeffizienz in höheren Preisen und Mieten widergespiegelt wird. Verkaufs- und Mietprämien für energieeffiziente Gebäude sind höher, wenn der Bedarfsausweis verwendet wird, der auf einer Expertenbewertung des energetischen Zustands der Immobilie basiert. Die Prämien sind jedoch deutlich niedriger, wenn der Verbrauchsausweis verwendet wird, der sich auf die Energieverbrauchsdaten der letzten drei Jahre stützt. Die Mietprämie für energieeffiziente Wohnungen kann vollständig durch die Energiekosteneinsparungen beim Wechsel von niedriger zu hoher Energieeffizienz erklärt werden, wenn ein Bedarfsausweis verwendet wird. Dies deutet darauf hin, dass Marktteilnehmer Energiekosteneinsparungen korrekt einpreisen, wenn genaue Informationen verfügbar sind. Der Vergleich von Verkaufspreisen mit energetischen Sanierungskosten legt nahe, dass eine Sanierung finanziell rentabel ist, aber nur, wenn der Bedarfsausweis verwendet wird. Trotz der Pflicht zu Energieausweisen enthält ein erheblicher Teil der Immobilienanzeigen diese Informationen nicht, was auf die Notwendigkeit strengerer Durchsetzung hindeutet. Politikempfehlungen: Verbesserung der Qualität der Energieausweise durch die Etablierung des Bedarfsausweises als Standard und die schrittweise Abschaffung des Verbrauchsausweises. Darüber hinaus sollte die Einhaltung der Meldepflichten für Energieausweise durch die Einführung eines Sanktionsmechanismus gestärkt werden. Dies wird zu mehr Transparenz führen und kann somit zu einer Steigerung der Sanierungsrate beitragen. |
| Abstract: | In this study, we analyze the effect of energy performance certificates on sales prices and rents on the basis of millions of sales and rental listings in Germany in order to understand the causes of the stagnation of the refurbishment rate in the German housing stock. The results show that higher energy efficiency is reflected in higher prices and rents. Sales and rent premiums for energy-efficient buildings are higher when using the so-called Bedarfsausweis (energy demand certificate), which is based on an expert evaluation of the property's energy status. However, these premiums are noticeably lower when using the so-called Verbrauchsausweis (energy consumption certificate), which relies on the meter readings from the past three years. The rent premium for energy efficient dwellings can be fully explained by the energy cost savings when switching from low to high energy efficiency using the Bedarfsausweis. This suggests that when accurate information is available, market participants correctly internalize energy cost savings. Comparing the sale price premium with refurbishment costs suggests that refurbishment is financially viable, but only if the Bedarfsausweis is used. Despite mandatory energy performance certificates, a significant portion of property listings do not provide this information, suggesting the need for stricter enforcement. Policy recommendations: Strengthen the quality of energy performance certificates by focusing on the Bedarfsausweis and phasing out the Verbrauchsausweis. In addition, strengthen compliance with reporting requirements for energy performance certificates by introducing a sanction mechanism. This will increase transparency and can therefore contribute to an increase in the refurbishment rate. |
| Keywords: | Energieeffizienz, Deutsche Wohnungsmärkte, Energieausweise, Sanierung, Energy efficiency, German Housing Markets, Energy Performance Certificates, Refurbishment |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkpb:306848 |
| By: | Baute, Sharon |
| Abstract: | Klimaneutralität ist in Europa bis 2050 nicht ohne erhebliche Veränderungen in unserer Wirtschafts- und Gesellschaftsstruktur zu erreichen - und nicht ohne breite gesellschaftliche Unterstützung für diese Transformation. Doch wie nehmen die Bürger:innen den Klimawandel wahr - und welche Art von EU-Klimapolitik findet gesellschaftliche Zustimmung? Einer neuen Umfrage zufolge bevorzugen deutsche Bürger:innen allgemein Maßnahmenpakete, die (1) Subventionen vor allem im Bereich der erneuerbaren Energien einsetzen, (2) sozialinvestive Maßnahmen beinhalten, (3) durch Steuererhöhungen für Reiche finanziert werden und (4) EU-Mittel auf Grundlage der Bevölkerungsgröße auf die Mitgliedstaaten verteilen. Ausgehend von diesen Befunden werden im vorliegenden Policy Paper Implikationen und im Empfehlungen für die Klimapolitik formuliert. |
| Abstract: | Europe's transition towards climate neutrality by 2050 requires major shifts in the structure of our economy and society - and wide societal backing. But how do citizens perceive climate change and what kind of EU climate policies do they support? New survey among German vot- ers shows that Germans generally prefer policy packages that (1) target financial support within the renewable energy sector, (2) include social investment policies, (3) are financed by increasing taxes on the wealthy, and (4) distribute resources across EU member states based on popu- lation size. Based on these findings, this policy paper formulates recom- mendations for climate policy making - inter alia to - couple climate mitigation policies with social investment or compensatory measures for lower-income households. |
| Keywords: | Klimapolitik, EU-Umweltpolitik, Öffentliche Meinung, Deutschland |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cexpps:307109 |
| By: | Federica Daniele (Bank of Italy); Guido de Blasio (Bank of Italy); Alessandra Pasquini (Bank of Italy) |
| Abstract: | Local opposition to the installation of renewable energy sources is a potential threat to the energy transition. According to widespread belief, mostly based on anecdotal evidence, local communities tend to oppose to the construction of energy plants due to the supposedly negative externalities therein associated (the so-called “not in my backyard†or NIMBY phenomenon). Using administrative data on wind turbine installation and electoral outcomes across municipalities located in the South of Italy during 2005-20, we estimate the impact of wind turbines’ installation on incumbent regional coalitions’ electoral support during the next elections. Our main findings, obtained by instrumenting wind turbine development with wind speed, point in the direction of a mild and not statistically significant electoral backlash for right-wing regional coalitions and of a strong and statistically significant positive reinforcement for left-wing ones. Positive reinforcement appears to be weaker but still statistically significant in areas more exposed to the potentially negative economic effects of wind turbine development, with exposure proxied through higher house prices and tourism intensity. Based on our analysis, the hypothesis of a political cost associated with the development of wind turbines due to a NIMBY type of behavior appears to be rejected by the data. |
| Keywords: | wind turbine installation, electoral outcomes, local opposition |
| JEL: | D72 P18 R12 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:ahy:wpaper:wp57 |
| By: | Vicente Ferreira; Joao Pedro Ferreira; Dario Guarascio; Francesco Zezza |
| Abstract: | We estimate how energy shocks affect the functional distribution of income. Using structural vector autoregressions identified with the oil supply news instrument proposed by Kanzig(2021), we find that an increase in oil prices leads to a substantial and long-lasting decline in the wage share. Real aggregate wage income is significantly impacted, with a considerable part of this decline stemming from distributive dynamics. We also investigate possible asymmetries in the response to oil supply shocks, finding that the wage share is more sensitive to negative shocks than to positive ones. This suggests that wage earners lose from oil price hikes more than they benefit from declines. |
| Keywords: | Inflation, Supply chain shocks, Input-Output, Core-periphery |
| Date: | 2024–11–20 |
| URL: | https://d.repec.org/n?u=RePEc:ssa:lemwps:2024/31 |
| By: | Eßer, Jana; Frondel, Manuel |
| Abstract: | Vor dem Hintergrund der Mannigfaltigkeit an klima- und energiepolitischen Maßnahmen, die seit Beginn der Dekade eingeführt wurden, präsentiert dieser Beitrag die Ergebnisse einer Panelerhebung aus dem Jahr 2022, in der die Akzeptanz und die wahrgenommene Gerechtigkeit von ausgewählten Maßnahmen zur Energie- und Verkehrswende untersucht wurde. Die Befragung von rund 6.000 Probanden war Teil der Panelerhebungen des vom RWI etablierten Sozialökologischen Panels. Als wesentliche Ergebnisse sind hervorzuheben, dass die Energiewende von einer überwältigenden absoluten Mehrheit von nahezu 90% der Befragten befürwortet wird und die Befürwortung in positiver Weise mit der Bildung der Antwortenden und dem Haushaltsnettoeinkommen korreliert ist. In Ostdeutschland indessen wird die Energiewende im Mittel deutlich weniger stark befürwortet als in Westdeutschland. Die in einem randomisierten Kontrollexperiment präsentierten Informationen zu den Kosten und dem Nutzen der Energiewende veränderten die Akzeptanzrate mit Ausnahme einer experimentellen Gruppe nicht in signifikanter Weise im Vergleich zur Kontrollgruppe. Lediglich in jener Gruppe, der einseitige Informationen zu den Kosten der Energiewende für private Haushalte präsentiert wurden, lag die Akzeptanzrate um rund 16 Prozentpunkte niedriger als in der Kontrollgruppe, die keine derartigen Informationen erhielt. Etwas überraschend ist vor dem Hintergrund der mittlerweile seit vier Jahren existierenden nationalen CO2-Bepreisung, mit der fossile Kraft- und Brennstoffe Jahr für Jahr aus Klimaschutzgründen verteuert werden, dass sich eine absolute Mehrheit von 65, 6% der Teilnehmenden gegen eine alljährliche Erhöhung der staatlichen Abgaben auf die Benzin- und Dieselpreise ausspricht. Ein nahezu ebenso großer Anteil der Befragten hält diese Maßnahme auch für ungerecht. |
| Abstract: | Against the backdrop of the wide range of climate and energy policy measures that have been introduced since the beginning of the decade, this article presents the results of a panel survey from 2022, in which the acceptance and perceived fairness of selected measures for the energy and transport transition were examined. The survey of around 6, 000 respondents was part of the panel surveys of the Socio-Ecological Panel established by RWI. The key findings are that the energy transition is supported by an overwhelming absolute majority of almost 90% of respondents and that this support is positively correlated with the respondents' education and net household income. In eastern Germany, however, the energy transition is supported significantly less strongly on average than in western Germany. The information presented in a randomized control experiment on the costs and benefits of the energy transition did not significantly change the acceptance rate compared to the control group, with the exception of one experimental group. Only in the group that was presented with one-sided information on the costs of the energy transition for private households was the acceptance rate around 16 percentage points lower than in the control group, which received no such information. Against the backdrop of the national CO2 pricing, which has now been in place for four years and makes fossil fuels and combustibles more expensive year after year for climate protection reasons, it is somewhat surprising that an absolute majority of 65.6% of participants are against an annual increase in state levies on petrol and diesel prices. An almost equally large proportion of respondents also consider this measure to be unfair. |
| Keywords: | City-Maut, randomisiertes Kontrollexperiment, Wärmewende |
| JEL: | D12 C25 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwimat:307133 |
| By: | Felix Meurer; Marco Sebastian Breder; Michael Bucksteeg; Hannes Hobbie; Dominik Moest; Hendrik Scharf; Christoph Weber (University of Duisburg-Essen, FU Hagen and TU Dresden) |
| Abstract: | Reaching Germany’s PV expansion goal requires regulatory instruments that promote new investments in PV rooftop installations complementing other environmental measures and enhancing coordination among stakeholders and alongside the building lifecycle. In great regional detail, this paper examines how an obligation tied to new building construction and renovation in the residential and non-residential sectors might further PV expansion and considers its socio-economic implications. The findings suggest that while a PV obligation could significantly advance national energy goals, it would contribute only a fraction of the annual growth in PV capacity needed. The research identifies a positive correlation between the impact of PV obligations for non-residential building construction and regional gross domestic product, indicating a potential distributive effect where less affluent regions lag further behind in sustainable energy production. In conclusion, a PV obligation could play a key role in future German energy legislation, but broader measures must complement it. Policymakers need to carefully balance the PV obligation’s potential for capacity growth with the risk of undermining public acceptance of the energy transition. |
| Keywords: | Obligation, Building, Renovation, Residential, Non-Residential |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:dui:wpaper:2408 |
| By: | César Barreto (OECD); Jonas Fluchtmann (OECD); Alexander Hijzen (OECD); Stefano Lombardi (VATT); Patrick Bennett (University of Liverpool); Antoine Bertheau (NHH); Winnie Chan (Statistics Canada); Andrei Gorshkov (IFAU); Jonathan Hambur (Reserve Bank of Australia); Nick Johnstone (IEA); Benjamin Lochner (FAU); Jordy Meekes (Leiden University); Tahsin Mehdi (Statistics Canada); Balázs Muraközy (University of Liverpool); Gulnara Nolan (Reserve Bank of Australia); Kjell Salvanes (NHH); Oskar Nordström Skans (Uppsala University); Rune Vejlin (Aarhus University) |
| Abstract: | This paper provides a comprehensive analysis of the costs of job displacement in energy-intensive industries in selected OECD countries. Based on harmonised linked employer-employee data from 14 OECD countries, we estimate the effect of job displacement in three energy-intensive industries, namely energy supply, heavy manufacturing and transport, compared to other industries. We find that workers displaced from energy supply and heavy manufacturing, experience larger earnings losses compared with workers in non-energy-intensive and transport sectors. Larger earnings losses mainly result from weaker re-employment outcomes in terms of wages and job instability but also challenges with finding another job. They reflect significant differences in the composition of workers and firms in energy supply and heavy manufacturing and the rest of the economy. Displaced workers in these sectors tend to be older, are less skilled and more likely to be previously employed in high-wage firms. |
| Keywords: | dismissal; linked employer-employee data; just transition |
| JEL: | J31 J63 Q43 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:rba:rbardp:rdp2024-09 |
| By: | Patrick Gruning (Latvijas Banka); Zeynep Kantur (Baskent University) |
| Abstract: | This paper introduces financial intermediaries, who engage in lending to firms for investments and buying public bonds issued by the government, and unconventional monetary policy in the form of quantitative easing or tightening into a rich New- Keynesian multi-sector E-DSGE model with production and investment networks. Due to the strong input-output linkages between sectors, almost all policies are found to be not effective in facilitating a green transition. The policies considered are sector-specific bank regulation policies, unconventional monetary policies, various carbon tax revenue recycling schemes, public green capital investment, and sector- specific investment tax/subsidy policies. Only if carbon tax revenues are used to build public green capital, thereby boosting productivity of the green sectors, the trade-off between achieving positive economic growth and reducing carbon emissions is fully resolved. |
| Keywords: | Production network, Investment network, Climate change, Financial intermediation, Financial stability, Stranded assets, Monetary policy |
| JEL: | E22 E32 E52 G21 L14 Q50 |
| Date: | 2024–11–14 |
| URL: | https://d.repec.org/n?u=RePEc:ltv:wpaper:202406 |
| By: | MUÑOZ DE BUSTILLO LLORENTE Rafael |
| Abstract: | The working paper explores the complex relationship between the digital and green transitions and analyses how these two transformations, although independent, influence each other. It discusses the potential positive effects of digitalisation in the fight against climate change, such as improved efficiency and coordination of production and the dematerialisation of goods and services. However, the paper also highlights the risk of significant backlash due to the existence of rebound effects, as well as the potential negative consequences of digitalisation for the environment, including the high energy consumption associated with digital technologies, the generation of e-waste, and the environmental impact of cryptocurrencies and artificial intelligence. Finally, the paper analyses the current state of adoption of the two transitions in companies, showing that although digitisation is more common, a significant percentage of companies are implementing both transitions, especially among large companies. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:laedte:202407 |
| By: | Cappelli, Federica; Di Bucchianico, Stefano |
| Abstract: | Given the empirical evidence showing the crucial role of income distribution and excessive consumption of richer households in determining greenhouse gas emissions, understanding their connection becomes especially important. Building on the distinction between subsistence and luxury emissions, we study where to intervene in reducing non-essential emissions. In doing so, we are able to connect the double role of luxury goods. Together with surplus production of other wage-goods, they are the reason why profits exist, but they are also the major constituent of wasteful luxury consumption and, hence, major drivers of consumer-generated greenhouse gas emissions. Among the three different scenarios ('greener consumption', 'reformist', and 'just transition') we depict, only the just transition is a viable option to respect both social and environmental boundaries. |
| Keywords: | rate of profit, luxury goods, GHG emissions, just transition, climate change |
| JEL: | Q57 Q52 B24 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ipewps:306820 |
| By: | Wang, Shu |
| Abstract: | This paper presents a high-frequency structural VAR framework for identifying oil price shocks and examining their uncertainty transmission in the U.S. macroeconomy and financial markets. Leveraging the stylized features of financial data - specifically, volatility clustering effectively captured by a GARCH model - this approach achieves global identification of shocks while allowing for volatility spillovers across them. Findings reveal that increased variance in aggregate demand shocks increases the oil-equity price covariance, while precautionary demand shocks, triggering heightened investor risk aversion, significantly diminish this covariance. A real-time forecast error variance decomposition further highlights that oil supply uncertainty was the primary source of oil price forecast uncertainty from late March to early May 2020, yet it contributed minimally during the 2022 Russian invasion of Ukraine. |
| Keywords: | Oil price, uncertainty, impulse response functions, structural VAR, forecast error variance decomposition, GARCH |
| JEL: | Q43 Q47 C32 C58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cegedp:307602 |
| By: | Jan Frankowski; Aleksandra Prusak; Jakub Sokołowski; Joanna Mazurkiewicz; Tomasz Świetlik |
| Abstract: | The importance of energy as a common good becomes especially pronounced during crises. This paper reconstructs the response of housing cooperatives to the energy crisis by applying Kenneth Burke’s five categories of theatre interpretation and eighteen impression management strategies inspired by Erving Goffman’s dramaturgical sociology to assess the dominant cooperative approaches. We analyse a unique dataset of 215 annual reports of Polish rural housing cooperatives, which display a range of reactive, proactive, and collaborative attitudes to high energy prices and fuel shortages resulting from the embargo on Russian coal. The unexpected nature of the crisis led four out of five rural housing cooperatives to adopt defensive impression management strategies. The three most common strategies were crisis attribution (66%), resourceful management (18%), and deliberative silence (12%). Our findings portray housing cooperatives as solitary and routine actors, undertaking an extraordinary effort often beyond their capacities. While cooperative efforts were partially supplemented by resident solidarity, particularly within micro-cooperatives reliant on coal with a stronger sense of community, the uncertain future of these entities calls for louder advocacy, targeted financial support, and better recognition of rural cooperatives as heating communities and intermediaries essential for ensuring local energy security. |
| Keywords: | housing cooperatives, heating, local communities, energy transition |
| JEL: | P13 O18 P28 P48 P31 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:ibt:wpaper:wp042024 |
| By: | De Oliveira Amado, Cristina Alexandra; Garrón Vedia, Ignacio; Lopes Moreira da Veiga, María Helena |
| Abstract: | This paper addresses the efect of country geopolitical risk on energy inflation by employing a methodology that combines fixed efects panel quantile regressions and local projections. The panel covers country-level indicators for 16 OECD countries from January 1990 to December 2022. Results show that adverse country-specific geopolitical events are associated with upside risks on energy inflation whereas the analysis reveals insignificant efects for both the median and left tail of energy inflation distribution. |
| Keywords: | Geopolitical risk; Energy inflation; Fixed efects; Panel data; Quantile regression |
| JEL: | C22 C23 E31 Q40 |
| Date: | 2024–11–29 |
| URL: | https://d.repec.org/n?u=RePEc:cte:wsrepe:45113 |
| By: | Lorenzo Mori; Gert Peersman (-) |
| Abstract: | A common approach for estimating the macroeconomic effects of oil supply news employs SVAR-IV models identified using changes in oil futures prices around OPEC quota announcements as an instrument. However, we show that the reduced-form oil price innovations, structural shocks, and the instrumental variable in these estimations are all Granger-caused by financial variables, indicating informational deficiencies in the VAR model and contamination of the instrument. To resolve these issues, we incorporate financial indicators into the econometrician’s information set, yielding significantly different results. These include a sharper short-term output decline, lower and less persistent inflationary effects, and a reversal of the monetary policy response. Our results also show greater stability over time and the disappearance of puzzling responses. Finally, we identify similar issues in other prominent oil-market SVAR models, suggesting that informational deficiencies are a pervasive issue in oil-market research. |
| JEL: | C32 C36 E31 E32 F31 Q43 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:rug:rugwps:24/1099 |
| By: | Petar Mitić (Institute of Economic Sciences, Belgrade, Serbia) |
| Abstract: | This paper presents a comprehensive strategic framework for advancing the production of electric vehicles (EVs), including the production of EV batteries in Serbia. It first provides a brief overview of the importance of the automotive industry in the Serbian economy, before highlighting the goals of the national strategies, government incentives for EV and battery production, and the adoption and diffusion of EVs. The paper also offers an overview of the use of EU funds to promote the production and use of EVs and analyzes the implementation progress in Serbia so far |
| Keywords: | automotive industry, development policy, battery production, mining |
| JEL: | L62 O25 Q01 Q58 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:iwe:workpr:279 |
| By: | Peter W. Kennedy (Department of Economics, University of Victoria) |
| Abstract: | I examine the implications of variance and skewness in the distribution of GDP for the properties of the non-cooperative equilibrium in greenhouse gas emissions. The key consequence of these features of the GDP distribution is that some countries have much greater scope of control over global emissions than others. This has a number of interesting implications. First, global emissions are decreasing in the variance of the GDP distribution but emissions for an individual country of any given GDP are increasing in that variance. Second, the scope-of-control effect on technology choices underlies a technique effect that can produce an environmental Kuznets curve across countries. Third, very large countries may under-emit relative to the first-best solution as a best response to the high-emissions-technology choices made by smaller countries. Fourth, the prospects for cooperative action – as determined by the potential gains from trade available from emissions trading – are increasing in the skewness of the GDP distribution because of the large induced asymmetry in marginal abatement costs across countries in the non-cooperative equilibrium. JEL Classification: Q53, Q56 |
| Keywords: | greenhouse gas emissions; climate change; economic size; scope of control; distribution of GDP. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:vic:vicddp:2403 |
| By: | Thomas Garcia |
| Abstract: | This paper studies different aspects of electricity pricing for the different provinces of Argentina as of January 2018. In particular, a description of the electricity sector is made, the tariff structures are evaluated, an economic analysis of the different tariff tables is carried out, the discrepancies between the tariffs according to the different provinces are calculated and the national social tariff is analyzed. The main conclusion are: a) The two-parts tariff is the tariff structure used by all distribution companies; b) There are tariff differences between provinces, both in the full tariff and in the national social tariff.; c) For consumption levels of 150 and 300 kWh/month, the highest prices are recorded in the southern, northern and Atlantic areas of the Province of Buenos Aires, Córdoba and Santa Fe. The lowest prices are shown in the regions of the Autonomous City of Buenos Aires, Santa Cruz and La Pampa; d) For consumptions of 450 and 600 kWh/month, the highest prices are charged in the southern and northern areas of the province of Buenos Aires and Córdoba. The regions where the lowest prices are charged are Santa Cruz, La Pampa, La Rioja and Catamarca. |
| JEL: | L11 L51 L94 L98 Q41 Q48 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:akh:wcefip:048 |
| By: | Claudio Deiana; Davide Dragone; Ludovica Giua |
| Abstract: | This paper examines the role of domestic elections and political polarisation in shaping international environmental agreements and how electoral dynamics may explain the limited success of current climate cooperation. I focus on two key factors: the impact of domestic electoral pressure on international policy decisions and the mismatch between short election cycles and long-term treaty commitments. Using a 4-stage game modelling a bilateral environmental agreement, I analyse how incumbents strategically balance policy preferences with reelection prospects. Results show that while a green incumbent is often forced to temper their ambitions, a brown incumbent faces fewer electoral constraints, explaining why stringent policies are harder to achieve. Nonetheless, electoral pressure can moderate policies, producing outcomes more aligned with the preferences of the median voter. Finally, I discuss how political polarisation, particularly in two party systems, adds complexity to international cooperation on global public goods. |
| JEL: | I18 L43 L83 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:bol:bodewp:wp1197 |
| By: | Aryan Eftekhari; Doris Folini; Aleksandra Friedl; Felix K\"ubler; Simon Scheidegger; Olaf Schenk |
| Abstract: | This paper presents a framework for developing efficient and interpretable carbon-cycle emulators (CCEs) as part of climate emulators in Integrated Assessment Models, enabling economists to custom-build CCEs accurately calibrated to advanced climate science. We propose a generalized multi-reservoir linear box-model CCE that preserves key physical quantities and can be use-case tailored for specific use cases. Three CCEs are presented for illustration: the 3SR model (replicating DICE-2016), the 4PR model (including the land biosphere), and the 4PR-X model (accounting for dynamic land-use changes like deforestation that impact the reservoir's storage capacity). Evaluation of these models within the DICE framework shows that land-use changes in the 4PR-X model significantly impact atmospheric carbon and temperatures -- emphasizing the importance of using tailored climate emulators. By providing a transparent and flexible tool for policy analysis, our framework allows economists to assess the economic impacts of climate policies more accurately. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.10768 |
| By: | Chad Fiechter; Binayak Kunwar; Guy Tchuente |
| Abstract: | This study examines the impact of monetary factors on the conversion of farmland to renewable energy generation, specifically solar and wind, in the context of expanding U.S. energy production. We propose a new econometric method that accounts for the diverse circumstances of landowners, including their unordered alternative land use options, non-monetary benefits from farming, and the influence of local regulations. We demonstrate that identifying the cross elasticity of landowners' farming income in relation to the conversion of farmland to renewable energy requires an understanding of their preferences. By utilizing county legislation that we assume to be shaped by land-use preferences, we estimate the cross-elasticities of farming income. Our findings indicate that monetary incentives may only influence landowners' decisions in areas with potential for future residential development, underscoring the importance of considering both preferences and regulatory contexts. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.10600 |
| By: | Brennan, Louis; Eszterhai, Viktor; He, Shaowei |
| Abstract: | China's EV industry is investing heavily in Hungary giving it an additional mode of entry into the European market. As the EU attempts to protect European incumbent firms with the imposition of tariffs on EV imports from China, this investment creates a challenge for European policy makers. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:colfdi:306298 |
| By: | Aleksandr Arsenev (The Vienna Institute for International Economic Studies, wiiw); Chiara Castelli (The Vienna Institute for International Economic Studies, wiiw); Ronald B. Davies; Javier Flórez Mendoza (The Vienna Institute for International Economic Studies, wiiw); Mahdi Ghodsi (The Vienna Institute for International Economic Studies, wiiw); Francesca Micocci; Leon Podkaminer (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | Chart of the month The war dividend by Aleksandr Arsenev The Polish catering sector falling demand but rising prices by Leon Podkaminer Recent data suggest that while demand for the services of Polish catering companies may be falling, the prices charged by larger firms – and their profits – are rising. Cooling the economy through restrictive macro policy reduces demand, but eliminates a swathe of smaller producers, making life easier for those firms that survive. They can generate above-average profits by charging more than the ‘normal’ prices that obtain under more effective competition. The impact of foreign direct investment on innovation in the EU by Francesca Micocci and Mahdi Ghodsi This study examines the influence of foreign direct investment (FDI) on innovation within European regional industries. Using the number of patents as a measure of innovation, we find compelling evidence to support FDI’s positive impact. Notably, among the measures of FDI explored, mergers and acquisitions (M&A) activity has the biggest effect on innovation, suggesting that this is a fundamental channel for knowledge transfer to the firms acquired and their markets. Innovation in climate change mitigation technologies across Europe by Chiara Castelli, Ronald B. Davies, Javier Flórez Mendoza, Mahdi Ghodsi and Francesca Micocci Innovation can act as an effective instrument for climate change mitigation (CCM), fostering the green transition. This study aims to assess regional technological capabilities in the climate change domain through two main innovation channels technological specialisation and foreign direct investment (FDI) in green technologies over the period 2008-2018. The main findings reveal significant disparities across European regions, especially among the less developed areas. As such, while some transition regions have great potential to become attractive hubs for green innovators, others still need more structural interventions to cope with the challenges of implementing the twin green and digital transitions. Monthly and quarterly statistics for Central, East and Southeast Europe |
| Keywords: | war dividend, defence contractors, stock prices, catering sector, inflation, consumer demand, market structure, innovation, greenfield FDI, M&As, climate change mitigation, technological specialisation, FDI |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wii:mpaper:mr:2024-06 |
| By: | Yves Jégourel |
| Abstract: | Si la réalité même de la transition énergétique est parfois questionnée, voire remise en cause (Fressoz, 2023), l’effet de report qu’elle crée sur les ressources minérales, mis en évidence par de nombreuses études prospectives, apparaît indiscutable. Plus de cuivre, de lithium, de nickel, de graphite ou de terres rares : telles sont les conditions non exhaustives permettant de soutenir le développement de l’électromobilité et des énergies renouvelables et, ainsi, de contribuer à la limitation du réchauffement climatique, conformément aux engagements pris lors des accords de Paris sur le climat de 2015. Au-delà des évidences, ce nouveau paradigme pose intrinsèquement la question de la définition et de l’optimalité des politiques publiques et privées permettant, d’une part, une plus grande valorisation du sous-sol et le développement industriel des pays producteurs et, d’autre part, de réduire des contraintes d’approvisionnement et la dépendance stratégique des nations importatrices. Il interroge également, plus fondamentalement encore, sur la volonté, voire la capacité, des nations à s’affranchir des stratégies bilatérales pour engager des négociations internationales sur ces ressources, parallèlement à celles menées sur le climat. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:pp_19-24 |
| By: | Liping Gao; Hyeongwoo Kim; Jiquan Chen |
| Abstract: | This study proposes an alternative approach to examining the Environmental Kuznets Curve (EKC). Instead of using conventional pollution indicators, we employ gross primary production (GPP) data from the NASA-MODIS dataset as a proxy for environmental quality across 131 countries. By estimating the nonlinear relationship between environmental protection and economic development, we confirm the conventional EKC pattern only in wealthy nations, where environmental quality improves as economies achieve higher levels of prosperity. In less developed countries, however, environmental quality tends to deteriorate further as economic growth accelerates. These results suggest that the EKC may be a localized phenomenon, raising concerns about policy suggestions that prioritize economic growth over environmental protection in less developed regions. |
| Keywords: | Gross Primary Production; NASA-MODIS; Environmental Kuznets Curve; Nonlinearity; Income Groups |
| JEL: | Q0 Q5 O0 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:abn:wpaper:auwp2024-08 |
| By: | Stefano Basilico; Alberto Marzucchi; Sandro Montresor; ; |
| Abstract: | This paper focuses on the combination of green and digital technologies at the regional level. Using patent data, we put forward an original measurement of the regional speed of green-digital (i.e. twin) combination: the temporal distance between the time at which a combination is realised for the first time in the frontier region and the time at which this same combination is accomplished in the focal region. We proceed by investigating the drivers and the technological impact related to this speed. We find that the speed of combination is enhanced by dealing with broad and diverse twin technologies. The speed at which the gap is closed, also crucially depends on the interdependencies between green and digital domains, captured by the overlap in their knowledge bases. Counterintuitively, the longer the combination paths, the faster the region combines green and digital technologies. This finding is then rationalised further looking at the policy and network characteristics. Finally, we find that the earlier the combination happens, the greater is likely to be the impact on subsequent inventions, but only for granted patents. Overall, these results are discussed in terms of policy recommendations, given the high attention placed by policymakers on the twin transition. |
| Keywords: | Twin transition; Digital technologies; Green technologies; Regional knowledge base |
| JEL: | O31 O33 R11 R12 Q55 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:egu:wpaper:2440 |
| By: | Phoebe Koundouri; Conrad Landis; Panagiota Koltsida; Lydia Papadaki; Eleni Toli |
| Abstract: | The maritime sector is confronted with substantial obstacles in its efforts to adjust to the changing requirements for digital and green skills, which are essential for the advancement of technological innovation and sustainability. In order to remain competitive and adhere to rigorous environmental regulations and technological advancements, it is imperative to address these skill disparities. The objective of this study is to assess the responses to three primary enquiries: Which maritime occupations are in the highest demand, which are the most prominent in terms of digital and green skills, and what is the minimum educational requirement for the most sought-after professions in the maritime industry. This research is based on two components: desk research and field research. The maritime-related sectors that have been investigated in this study are: (a) Shipping, (b) Ports and terminals, (c) Shipbuilding and ship repair, (d) Supply chain management and maritime logistics, and (e) Marine technology and equipment. The objective of this approach is to identify current job market deficiencies and prioritise essential green and digital skills for future educational and training programmes in the maritime sectors. |
| Keywords: | blue skills, green skills, digital skills, maritime sector |
| Date: | 2024–12–11 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2417 |
| By: | Pongsak Luangaram; Yuthana Sethapramote; Kannika Thampanishvong; Gazi Salah Uddin |
| Abstract: | Understanding the impact of climate risks on financial stability is crucial for ensuring the resilience of banking sectors, particularly in economies exposed to climate change. This paper investigates how transition and physical risks influence systemic risk in Thailand’s banking sector. Transition risks are analyzed using the Fama-French multi-factor asset pricing model to estimate the risk premium of brown industries relative to green industries, termed Brown-minus-Green (BMG). Physical risks are assessed using the Standardized Precipitation Evapotranspiration Index (SPEI), an indicator of flood and drought conditions. Systemic risk at the bank level is measured using conditional value-at-risk (CoVaR). Panel regressions are employed to examine the relationship between climate risks and systemic risk. The results reveal that transition risks, as captured by the BMG factor, significantly heighten systemic risk among Thai banks, emphasizing their critical role in financial vulnerabilities. Additionally, physical risks, particularly those associated with flood exposure, create substantial challenges for bank portfolios. These findings highlight the importance of integrating transition and physical risk indicators into regulatory monitoring frameworks to enhance financial stability. Furthermore, Thai commercial banks can apply these insights to conduct climate stress tests and develop strategies for managing climate-related risks more effectively. |
| Keywords: | climate risk; Systemic risk; Thailand; Banking sector; BMG; SPEI; CoVar |
| JEL: | C58 G12 G21 Q54 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:pui:dpaper:224 |
| By: | Maier, Gunther; Reyman, Katarzyna; Gluszak, Michal |
| Abstract: | This paper provides a preliminary descriptive analysis of the spatial and temporal diffusion of green building certifications in Europe. The analysis is preliminary because it does not include all the major green building certification schemas in Europe; just BREEAM and LEED. The main aim of this analysis is to show that there is a strong diffusion process of green building certifications in Europe and that this process has marked spatial and temporal dynamics. The paper also aims to demonstrate that this process can be analyzed at different spatial scales from countries to NUTS3 regions to municipalities. |
| Keywords: | green buildings; diffusion; LEED; BREEAM |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:wiw:wus009:69189979 |
| By: | Natasha Aggarwal (TrustBridge Rule of Law Foundation); Bhavin Patel (TrustBridge Rule of Law Foundation) |
| Abstract: | A 2023 decision of the Supreme Court underscored the importance of judicial deference to expert bodies, stating that the High Court should have remanded a technical matter to the Appellate Tribunal for Electricity ('APTEL') instead of adjudicating it itself. Judicial review of erc orders cannot be eliminated, but the grounds and scope of judicial review should be confined within well-settled principles of administrative law. Many challenges against the Telangana State Electricity Regulatory Commission's ('TSERC') orders are filed before the Telangana High Court: in 2021-22, 12 appeals from TSERC were filed before aptel, while 85 appeals were filed before the Telangana High Court (i.e., over seven times the number of appeals before aptel). We analysed writ petitions and appeals involving TSERC before the Telangana High Court between 2014-2022 and examined whether judicial review of the TSERC's orders by the Telangana High Court is within the permitted limits in administrative law. We propose to conduct similar studies for other SERCAs and a comparative study across SERCs. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:bjd:wpaper:7 |
| By: | Odran Bonnet (Institut national de la statistique et des études économiques (INSEE)); Étienne Fize (IPP - Institut des politiques publiques, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Tristan Loisel (Institut national de la statistique et des études économiques (INSEE)); Lionel Wilner (CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Compensating agents against substantial and sudden shocks requires both targeting tax policies and taking behavioral responses into account. Based on transaction-level data from France, this article exploits quasi-experimental variation provided by 2022 fuel price inflation and excise tax cuts. After disentangling anticipation from price effects, we estimate a price elasticity of fuel demand of -0.31, on average, which varies little with respect to income and location but substantially decreases with fuel spending, in absolute value. Using targeted transfers only achieves imperfect compensation, yet a budget-constrained policy-maker seeking to alleviate excessive losses relative to income prefers income-based transfers to price subsidies. |
| Keywords: | Commodity taxation, Excise fuel tax, Tax-and-transfer schemes, Gasoline price elasticity, Anticipatory behavior, Transaction-level data |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:hal:ipppap:hal-04799412 |
| By: | Krüger, Manon |
| Abstract: | Der Tourismus ist ein maßgeblicher Verursacher klimaschädlicher Treibhausgasemissionen, von denen ein Großteil auf den touristischen Verkehr und insbesondere auf die Fahrt zwischen Wohnort und Reiseziel entfällt. Die Förderung der Nutzung emissionsärmerer Verkehrsmittel wie des Reisebusses kann ein Weg sein, die touristischen Emissionen zu reduzieren. Hierfür ist das Verständnis über die Entscheidungsfaktoren bei der Verkehrsmittelwahl sowie die wahrgenommene Anspruchserfüllung durch die zur Auswahl stehenden Verkehrsmittel aus Sicht der potenziell Reisenden von hoher Bedeutung. Die vorliegende Studie untersucht die Relevanz ausgewählter verkehrssystemabhängiger Determinanten bei der Wahl des Hauptverkehrsmittels für die An- und Abreise zu einem erdgebundenen Urlaubsreiseziel sowie die wahrgenommene Eignung des Reisebusses bezüglich dieser Faktoren im Vergleich zum Pkw und zur Bahn aus Sicht der deutschen Bevölkerung. Aus der Gegenüberstellung der Ergebnisse zu beiden Fragestellungen werden Argumentations- und Handlungsansätze für eine Förderung der Wahl des Reisebusses als Hauptverkehrsmittel bei erdgebundenen Urlaubsreisen abgeleitet. Die Untersuchung basiert auf einer im Herbst 2022 durchgeführten, für die deutsche Wohnbevölkerung ab 16 Jahren repräsentativen Erhebung (n = 1.002). |
| Abstract: | Tourism is a major source of climate-damaging greenhouse gas emissions. A large proportion of tourism-related emissions are caused by tourism transport, particularly travel to and from the destinati on. Encouraging the use of lower-emission modes of transport such as coaches can be one way to reduce tourism emissions. To do this, it is important to understand the factors that determine the choice of transport mode and the perceived suitability of the available transport modes by potential travelers. This study examines the relevance of selected transport system-related determinants in the choice of the main means of transport for travelling to and from a land-based holiday destination and the perceived suitability of coaches in relation to these factors in comparison to cars and trains from the perspective of the German population. By comparing the results of both questions, arguments and approaches for promoting the choice of coach as the main mode of transport for land-based holiday trips are derived. The study is based on a representative survey of the German resident population aged 16 and older (n = 1, 002) conducted in the autumn of 2022. |
| Keywords: | Verkehrsmittelwahl, Urlaubsreisen, An- und Abreise, Reisebus, Pkw, Bahn, Busreise, choice of means of transport, holiday travel, arrival and departure, coach, car, train, coach trip |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ditfwp:306352 |
| By: | Blanc, Corin; Perona, Mathieu; Senik, Claudia |
| Abstract: | L’hiver 2022-2023, marqué par l’augmentation conjointe des prix de l’énergie et des aliments constitue un avant-goût d’une partie des effets du dérèglement climatique : des périodes de forte volatilité des prix, avec une adaptation brutale, et souvent contrainte, des ménages. Sur la base d’une enquête réalisée par Ipsos pour RTE, nous montrons que le sentiment d’avoir fait ou dû faire des efforts difficiles durant cette période croise des éléments objectifs (les plus pauvres et les plus jeunes ont été plus affectés), subjectifs (à situation objective identique, les partisans des partis aux extrémités du spectre politique ont plus le sentiment d’avoir été affectés), et collectifs (encore à situation et niveau d’effort identique, les ménages dont le moyen de chauffage est individuel ont eu le sentiment d’un effort plus important que ceux à chauffage collectif, qui par construction savaient l’effort commun). Ces trois dimensions fixent les axes impératifs pour une transition écologique acceptable : une assistance aux ménages pour lesquels l’augmentation des prix implique de rogner sur l’essentiel (santé, alimentation, mobilité contrainte), une prise en compte de la pluralité des motivations et des valeurs qui les sous-tendent, et l’importance du sentiment d’un effort collectif équitablement partagé. |
| Keywords: | France, Well-Being, Inflation, Bien-être, Transition |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpm:notobe:2414 |