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on Environmental Economics |
| By: | A T M Omor Faruq; Md Toufiqul Huq |
| Abstract: | This paper examines the pivotal role central banks play in advancing sustainable finance, a crucial component in addressing global environmental and social challenges. As supervisors of financial stability and economic growth, central banks have dominance over the financial system to influence how a country moves towards sustainable economy. The chapter explores how central banks integrate sustainability into their monetary policies, regulatory frameworks, and financial market operations. It highlights the ways in which central banks can promote green finance through sustainable investment principles, climate risk assessments, and green bond markets. Additionally, the chapter examines the collaborative efforts between central banks, governments, and international institutions to align financial systems with sustainability goals. By investigating case studies and best practices, the chapter provides a comprehensive understanding of the strategies central banks employ to foster a resilient and sustainable financial landscape. The findings underscore the imperative for central banks to balance traditional mandates with the emerging necessity to support sustainable development, ultimately contributing to the broader agenda of achieving global sustainability targets. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.13576 |
| 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: | 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: | 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: | 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: | Kubin, Ingrid; Zörner, Thomas O. |
| 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 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:wiw:wus005:69981137 |
| 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: | 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: | 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: | 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: | 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: | Bauer, Michael; Huber, Daniel; Offner, Eric; Renkel, Marlene; Wilms, Ole |
| 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, decarbonization commitments, text classification, event study, transition risk, carbon premium |
| JEL: | G14 G32 Q54 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:imfswp:306828 |
| 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: | 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: | Heidecke, Claudia; Clark, Harry; Verchot, Louis; Feike, Til; Grassnick, Nina; Reisinger, Andy; Ringler, Claudia; Runge, Tania; Zhang, Wei |
| Keywords: | Climate Change, Crop Production/Industries, Environmental Economics and Policy, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2024–10–21 |
| URL: | https://d.repec.org/n?u=RePEc:ags:jhimwp:348543 |
| 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: | Phoebe Koundouri; Mariatzela Chatzigiannakou; Konstantinos Dellis; Christopher Deranian; Stathis Devves; Hezal Sari |
| Abstract: | Integrated Assessment Models (IAMs) have become critical tools for analyzing the complex interactions within agriculture and food systems, offering valuable insights for evidence-based policymaking. This paper reviews twelve widely applied agriculture and food IAMs, categorizing them into four primary sub-groups: Food Security, Land Use, and Socio-economic Models; Hydrological and Water Resources Models; Land, Crop, and Food Production Models; and Food-Energy-Water Nexus Models. The review highlights their respective capabilities, including cost minimization, depth of the food-energy-water nexus analysis, integration with other domains and tools, and spatial and temporal resolution. A comparative assessment underscores each model's unique strengths, such as resource intensity accounting in FABLE, climate-focused numerical analysis in MAgPIE and IMPACT, and resource balance optimization in GCAM and WEAP. Synergies between IAMs and their integration with other domains, including energy and economic systems, are also explored, demonstrating their potential for producing holistic scenarios addressing climate adaptation, resource constraints, and dietary transitions. The findings emphasize the significant role IAMs play in advancing the EU�s sustainability agenda, including the Green Deal and Common Agricultural Policy. By fostering tailored projections and capacity-building potential, IAMs enable interactive engagement with diverse stakeholders and provide a framework for aligning national and international policies. These integrated approaches are crucial for crafting strategies that enhance food system resilience, optimize resource use, and support climate goals, positioning IAMs as indispensable instruments for shaping sustainable and equitable food systems worldwide. |
| Date: | 2024–12–11 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2418 |
| 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: | Turner, Dylan; Baldwin, Katherine; Beckman, Jayson; Nava, Noé J.; Tsiboe, Francis; Vaiknoras, Kate |
| Abstract: | More frequent and severe weather events are projected with climate change. The U.S. Federal Government offers programs to help producers mitigate the financial impacts of these adverse events, the largest of which is the USDA, Federal Crop Insurance Program (FCIP). The potential impacts on FCIP outlays under future climate scenarios have been explored but most analyses have focused on impacts on field crops. A changing climate could also affect forage commodities and livestock producers. The Pasture, Rangeland, and Forage (PRF) insurance plan was designed to help producers mitigate financial losses associated with a lack of precipitation. Payments are triggered if precipitation is below a historical index. Payment amounts are determined by the decrease in precipitation, changes in biomass value, and participation in the program. This report provides projected changes to precipitation (using climate estimates), biomass (using a livestock rangeland model), and future participation in the program. Results show that net payments (defined as indemnities, plus premium subsidies, minus total premiums) are projected to range from an annual average of approximately $495 million per year to $2.63 billion per year between 2024 and 2050 compared to the average net payments of $603 million per year (in 2024 terms) observed in 2020–23. |
| Keywords: | Agricultural and Food Policy, Climate Change, Crop Production/Industries, Livestock Production/Industries, Public Economics, Resource /Energy Economics and Policy, Risk and Uncertainty |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:ags:uerseb:348571 |
| 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: | 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: | 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: | Xiaojun Yu (School of Finance, Capital University of Economics and Business, Beijing, China.); Russell Smyth (Department of Economics, Monash University, Victoria, Australia.); Yao Yao (School of Economics and International Trade, Shanghai Lixin University of Accounting and Finance, Shanghai, China.); Quanda Zhang (Institute of Innovation, Science and Sustainability, Federation University Australia, Victoria, Australia & Department of Economics, Monash University, Victoria, Australia.) |
| Abstract: | We estimate the causal effect of climate change induced water stress on firm-level productivity in China. In contrast with most extant studies that have employed precipitation to proxy firm-level availability of water, we use local water runoff, which we argue is a more appropriate measure of water stress on firms. By matching a panel for half a million formal industrial firms with county-level data on water runoff, we find that shocks to local water runoff, defined as a standard deviation increase or decrease in local water runoff from its long-run average, exert asymmetric effects on firm productivity. A negative shock to water runoff reduces firm productivity by between 1.93 and 5.40 per cent, depending on the magnitude of the shock, while the effect of a positive shock to water runoff on firm productivity is insignificant. These results are robust to numerous sensitivity checks. We show that water runoff outperforms other proxies of water availability across different horserace specifications. We find that the main transmission mechanisms are the adverse effect of negative shocks to water runoff on constraining water inputs in production, disruptions to power generation and, to a lesser extent, higher financing cost. Our study sheds new light on how climate change can impede economic development. |
| Keywords: | Water stress, water runoff, climate change, firm performance, panel model |
| JEL: | L60 O44 O47 Q54 Q25 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:mos:moswps:2024-20 |
| 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: | Beacham, Austin; Hafner-Burton, Emilie M; Schneider, Christina J |
| Abstract: | The world is experiencing the increasingly destabilizing effects of climate change, but we currently know little about its effects on the quality of democracy. We argue that compounding climate shocks create conditions under which democratic resilience diminishes. The accelerated frequency and severity of climate-induced natural disasters and weather shocks, and their devastating economic and social consequences, have increased the likelihood and frequency of civil and political unrest, especially in contexts where climate-induced disasters compound and the government is unable to address citizen grievances. The necessity to respond to more frequent civil unrest and political instability increases the likelihood that governments rely on repressive measures that reduce democratic resilience. To test this argument, we explore whether compounded experiences with climate shocks increase the likelihood of a country experiencing a decline in democratic resilience. We find that the compounded effects of climate change significantly reduce the quality of democracy within the country, and that this is driven by increased instability and repressive measures in response. These findings have important implications for the future of democratic governance in a world increasingly confronted with the negative effects of climate change. |
| Keywords: | Social and Behavioral Sciences, Climate, democracy, unrest, disasters, backsliding |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:globco:qt4wd7x7jv |
| 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: | Enric Cervera (University Jaumé I); Inmaculada Martínez-Zarzoso (University Jaumé I & University of Goettingen) |
| Abstract: | This paper examines the impact of environmental litigation outcomes on greenhouse gas emissions, which are the main source of global warming. The empirical analysis is based on the stochastic version of the Impact, Population, Affluence Technology model, estimated using panel data and instrumental variables methods. The data are collected for a cross-section of countries over the period from 1996 to 2018. The results show that once litigations have been decided, emissions decrease in the whole sample, including high-income and middle-income countries. The results hold when the past number of litigation claims/fillings are used as instrumental variables. The robustness checks that consist of adding proxies for environmental regulations and estimating subsamples confirm the results. These outcomes have important policy implications for global warming issues. |
| Keywords: | GHG emissions, litigation decisions, IPAT, panel data, instrumental variables |
| JEL: | F |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:inf:wpaper:2024.16 |
| 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: | Petre Caraiani (Institute for Economic Forecasting, Romanian Academy; Bucharest University of Economics Studies); Carolyn Chisadza (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa) |
| Abstract: | This study updates the existing literature on the adverse effects of climate change on firms' performance by providing an alternative perspective that climate change can have potential growth benefits. We examine the effects of climate shocks on firms' investments. Using a spatial autoregressive model with United States (U.S.) firm-level data from 1985 to 2019, we find that increased frequency of climate shocks is positively associated with investments for firms, with larger spillover effects on neighbouring firms. These findings remain consistent for various robustness checks which include sub-sample analysis, different outcome variables and controlling for financial characteristics of the firms. The results highlight that contrary to current evidence, climate change can create incentives for firms to increase investments in adjusting their production processes to cleaner technologies. |
| Keywords: | Climate shocks, Corporate investments, Spatial econometrics, Production network structure |
| JEL: | C31 D24 D92 Q54 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:pre:wpaper:202448 |
| 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: | Jeddi, Behzad; DePaula, Guilherme |
| Abstract: | This article examines the environmental impacts of agricultural intensification in Brazil, particularly the significant expansion of a double-cropping system involving soybeans and corn, which has transformed Brazil into the world’s leading exporter of corn. We use econometric models with instrumental variables to assess the impact of double-cropping on pesticide runoff and land-use change, focusing on regions near tropical forests. Our results indicate that double-cropping reduces pesticide runoff by acting as a cover crop that limits chemical leaching, although the effect size is small. In our analysis of land-use change, we observe notable regional variation. In traditional agricultural zones, double-cropping has minimal influence on cropland expansion due to high land-conversion costs. However, in frontier areas where land conversion barriers are lower, double-cropping significantly drives cropland expansion. We estimate that 44% of the cropland expansion in the frontier region would not have occurred without the practice of double-cropping. This finding suggests that the recent growth of second-crop corn for ethanol production may have more substantial environmental impacts than previously anticipated. |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:isu:genstf:202412021626120000 |
| 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: | 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: | 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: | Khatun Mst Asma (Research Institute for Future Design, Kochi University of Technology, Japan); Md Rony Masud (College of Business, Rikkyo University, Japan); Koji Kotani (Research Institute for Future Design, Kochi University of Technology, Japan) |
| Abstract: | Agricultural financing is crucial for economic development and sustainability. However, little is known about how bankers are concerned about climate change as decision makers for agricultural financing as well as their concerns are related to the possible future performances. This study investigates a research question “how do bankers’ climate concerns and value orientation influence agricultural financing?†and the hypotheses “bankers’ climate concerns discourage agricultural financing, whereas their value orientations for future generations encourage it.†We conduct questionnaire surveys and collect data on concerns toward climate factors, prosocial attitude for future generations and sociodemographic information from 596 bankers at three areas in Bangladesh. The results reveal three main findings. First, bankers who have high climate concerns tend to be less optimistic about agricultural financing. Second, bankers who live in high climate-change areas tend to have more severe climate concerns and darker prospectives in agricultural financing than those in low climate-change areas. Third, bankers who have a high value orientation for future generations are likely to be positive over future agricultural financing. Overall, our findings suggest that agricultural financing shall be discouraged as climate change becomes severe, hitting low-land areas, such as Bangladesh, through the lens of bankers’ perceptions, unless the bankers possess high concerns for future generations. To counter such negative possibilities in agricultural financing, a new agricultural financing scheme, such as “agricultural green banking, †shall be necessary to implement. |
| Keywords: | Climate concerns, value orientation, agricultural financing, bankers, Bangladesh |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:kch:wpaper:sdes-2024-6 |
| By: | Rahman Md. Mostafizur (School of Economics and Management, Kochi University of Technology); Khatun Mst. Asma (Research Institute for Future Design, Kochi University of Technology); Moinul Islam (School of Economics and Management, Kochi University of Technology); Koji Kotani (School of Economics and Management, Kochi University of Technology) |
| Abstract: | Generativity, concern and commitment for the next generation, is established to be important for understanding people’s behaviors to SDGs. However, little is known about how generativity is related to sustainable food consumption intentions and behaviors. We consider the extended theory of planned behavior (TPB), investigating the question “how generativity matters for consumers’ intentions to purchase sustainable foods along with environmental concerns (EC)?†and the hypothesis “prosocial attitudes for future generations (PAF), one measure of generativity, is the key determinant.†We employ a field survey, collecting data on the intentions to purchase organic foods (INT), TPB constructs, i.e., attitudes, subjective norms and perceived behavioral controls, PAF and EC with 300 household heads in Bangladesh. We confirm the significance of PAF and EC on top of TPB constructs by testing the causality through partial-least squares structural equation modeling, yielding two main results. First, not only PAF but also EC have substantial positive effects on consumer intentions to purchase organic foods. Second, the relations between PAF and INT as well as those between EC and INT are fully and partially mediated by attitudes, respectively. Thus, PAF and EC are established to be key determinants for favorable attitudes toward sustainable food-purchase intentions. Overall, the results demonstrate that enhancement of people’s orientations for future generations and environment is effective at shaping sustainable food cultures and practices, and to this end, some future-studies approaches shall be recommended. |
| Keywords: | Sustainable foods, Purchase intentions, Generitivity, Environmental concerns |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:kch:wpaper:sdes-2024-5 |
| 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: | 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: | 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: | 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: | Ebata, Ayako; Belton, Ben |
| Abstract: | Academic and policy debates on agriculture emphasize a bimodal typology of ‘small-scale’ and ‘large-scale’ farms. In this article, we draw attention to the role and distinct characteristics of medium-scale monogastric livestock farms in the Global South, drawing on an empirically grounded typology of scale that incorporates three linked components: (1) Social and economic organization of production; (2) Technological choice and environmental impacts, and; (3) Food system linkages and spillovers. We review national livestock sector policy documents from three Asian countries - Bangladesh, Myanmar, and Vietnam - with reference to the typology, and compare assumptions embedded in the policies with the characteristics of farm scale revealed by the typology. Our analysis indicates that current policy goals are not well aligned with the characteristics of medium-scale livestock farming in the region. This disconnect presents a missed opportunity to enhance the livestock sector’s contributions to rural economies, nutrition security, food safety, and environmental performance. We conclude with examples of how policies could maintain and enhance medium-scale monogastriclivestock farms’ contributions to sustainable intensification, public health, and livelihoods. |
| Keywords: | agriculture; typology; farm size; livestock; policies; rural economics; nutrition security; food safety; sustainability; Bangladesh; Myanmar; Vietnam; Southern Asia |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprwp:159541 |
| By: | Drygalla, Andrej; Heinisch, Katja; Schult, Christoph |
| Abstract: | In a multi-sector and multi-region framework, this paper employs a dynamic general equilibrium model to analyze climate-resilient economic development (DGE-CRED) in Vietnam. We calibrate sector and region-specific damage functions and quantify climate variable impacts on productivity and capital formation for various shared socioeconomic pathways (SSPs 119, 245, and 585). Our results based on simulations and cost-benefit analyses reveal a projected 5 percent reduction in annual GDP by 2050 in the SSP 245 scenario. Adaptation measures for the dyke system are crucial to mitigate the consumption gap, but they alone cannot sufficiently address it. Climate-induced damages to agriculture and labor productivity are the primary drivers of consumption reductions, underscoring the need for focused adaptation measures in the agricultural sector and strategies to reduce labor intensity as vital policy considerations for Vietnam's response to climate change. |
| Keywords: | adaptation, climate change, cost-benefit analysis, dynamic general equilibrium models |
| JEL: | E17 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:iwhtrp:306350 |
| 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: | 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: | ANTONIOLI Federico (European Commission - JRC); ISBASOIU Ancuta (European Commission - JRC); CIAIAN Pavel (European Commission - JRC); TUR CARDONA Juan (European Commission - JRC); FELLMANN Thomas (European Commission - JRC) |
| Abstract: | This report analyses the farm-level data collection practices of selected public and private sustainability-related certification schemes, with the aim of providing insights into synergies and gaps for the upcoming Farm Sustainability Data Network, which will collect data on environmental and social issues. The analysis is based on online surveys, semi-semi-structured interviews and desk research carried out between June and October 2023. Out of 188 common agricultural policy (CAP) interventions associated with certification schemes within the CAP strategic plans of the Member States, 25 relevant certification schemes were pre-selected for consideration in this report. A total of 10 respondents (i.e. certification agencies and, in some cases, responsible public authorities) participated, covering 16 certification schemes, resulting in response rates of 48 % for respondents and 64 % for certification schemes. Key findings relate to the monitoring practices of operators by certification agencies, data collection methods, data sources, data management practices, data exchange and costs incurred. Respondents rated the data collection process as somewhat costly for both certification agencies and farmers. The main challenges and burdens of the data collection process identified by the respondents are also outlined. The analysis indicates that, while data on environmental and social sustainability are available, considerable efforts are required to collect quantitative data and ensure that they are consistent, digitalised and accessible. The voluntary nature of participation in certification schemes limits the representativeness of the data collected and introduces selection bias. Furthermore, increasing farmers’ understanding of the purpose and benefits of data collection is crucial for motivating farmers. Providing incentives and collaborating with organisations that have direct contact with farmers can increase farmers’ willingness to participate. |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc138225 |
| By: | Marco Hening-Tallarico; Pablo Olivares |
| Abstract: | The objective of the paper is to price weather derivative contracts based on temperature and precipitation as underlying climate variables. We use a neural network approach combined with time series forecast to value Pacific Rim index in Toronto and Chicago |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.12013 |
| By: | Edoardo Santoni; Margherita Scarlato |
| Abstract: | Climate change is producing significant transformations in the labor market, intensifying inequalities due to its heterogeneous effects. Our study provides an empirical analysis for Italy on the causal relationship between high temperatures and work-related injuries, at the provincial and daily levels, for the period 2014-2022. We use the Wet Bulb Globe Temperature (WBGT), a more complex temperature indicator that incorporates air temperature, humidity, radiant heat, and air velocity and is therefore a stronger measure of heat stress at the workplace than air temperature alone. The empirical analysis confirms that the risk of work-related injuries in humid and hot environments increases significantly, for both male and female employees. We also find that the impact of heat on occupational injuries is increasing over time for the female population, raising new concerns for gender equality under the dimension of workplace health and safety. |
| Keywords: | Temperature, Occupational health & safety, Labor, Economics of gender, Climate change |
| JEL: | C23 I18 J28 J16 Q50 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:rtr:wpaper:0283 |
| By: | Gabriela Chmelikova (Department of Regional and Business Economics, Faculty of Regional Development and International Studies, Mendel University in Brno, Czech Republic); Renata Kucerova (Department of Management, Faculty of Business and Economics, Mendel University in Brno, Czech Republic); Helena Chladkova (Department of Management, Faculty of Business and Economics, Mendel University in Brno, Czech Republic); Jindrich Spicka (Department of Statistics, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic) |
| Abstract: | This paper investigates the role of the institutional business environment with favourable conditions for conducting business in the process of the EU transition towards sustainability. We draw on the theory of institutional economics and empirically investigate our overarching research question as to which extent the conditions conducive to do business are linked to increased levels of irresponsible corporate behaviour in the EU.. Pursuing an econometric approach, we test a set of hypotheses using various measures of favourable conditions for conducting business as drivers for corporate social irresponsibility. We build a unique dataset that includes observations of irresponsible corporate behaviour in 16 EU countries over the period 2015 – 2020. Our findings show that institutions conducive to support the ease of doing business lead to an increased ESG (Environmental, Social, and Governance) crime rate measured by the share of firms acting irresponsibly and that the intensity of past ESG incidents is associated with a lower current occurrence of offences against sustainability. Our conclusion could help drive progress toward sustainability by the recommendation to orient policies more toward countries with attractive business environments, as they tend to harbour a concentration of the most harmful firms. Further, it is recommended to harmonise corporate tax rates and other business conditions across EU member states. |
| Keywords: | Corporate Social Irresponsibility, Institutional Economics, Attractive Business Environments, Sustainability, ESG |
| JEL: | K42 L51 M14 O17 Q56 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:men:wpaper:97_2024 |
| 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: | 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: | Xinming Du; Lei Li; Eric Zou |
| Abstract: | This paper shows a cascading mechanism through which international trade-induced deforestation results in a decline of health outcomes in cities distant from where trade activities occur. We examine Brazil, which has ramped up agricultural export over the last two decades to meet rising global demand. Using a shift-share research design, we first show that export shocks cause substantial local agricultural expansion and a virtual one-for-one decline in forest cover. We then construct a dynamic area-of-effect model that predicts where atmospheric changes should be felt - due to loss of forests that would otherwise serve to filter out and absorb air pollutants as they travel - downwind of the deforestation areas. Leveraging quasi-random variation in these atmospheric connections, we establish a causal link between deforestation upstream and subsequent rises in air pollution and premature deaths downstream, with the mortality effects predominantly driven by cardiovascular and respiratory causes. Our estimates reveal a large telecoupled health externality of trade deforestation: over 700, 000 premature deaths in Brazil over the past two decades. This equates to $0.18 loss in statistical life value per $1 agricultural exports over the study period. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2411.13516 |
| By: | Rubio-Ramos, Melissa (UNIVERSITÄT ZU KÖLN); Isendahl, Christian (Department of Historical Studies, University of Gothenburg); Olsson, Ola (Department of Economics, School of Business, Economics and Law, Göteborg University) |
| Abstract: | In early states, government elites provided both productivity-enhancing infrastructure, such as irrigation systems, as well as seemingly non-productive monumental architecture like temples and pyramids. The nature of this ”bread-and-circuses”-tradeoff is not well understood. In this paper, we examine this phenomenon in the Classic Maya civilization (c. 250-950 CE) where city-state elites chose between investing in essential water management infrastructure (reservoirs, canals), and monumental architecture. We analyze information from 870 dated monuments from 110 cities. Correlating this dataset with a proxy record for variations in annual rainfall, we find–perhaps counter-intuitively–that monumental construction activity was more intense during drought years. A text analysis of 2.2 million words from deciphered hieroglyphic inscriptions on monuments, further shows higher frequencies of terms associated with war or violent conflict during periods of drought. We propose that in the Classic Maya setting, with numerous small city-states, monument construction functioned as a costly signaling device about state capacity, designed to attract labor for future control of revenue. |
| Keywords: | Bread and circuses; public goods; monumental architecture; drought; Maya |
| JEL: | N50 O43 |
| Date: | 2024–11–18 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:gunwpe:0850 |
| By: | Brilé Anderson; Jorge Patiño; Jennifer Sheahan; Prof. Kwadwo Owusu; Dr. Ernest Agyemang; Dr. Doris Boateng; Yaroslav Kholodov; Nick Carros; Alex Johnson |
| Abstract: | The transport systems of Accra and Kumasi confront formidable challenges, including rising pollution, congestion, emissions along with traffic accidents. Even though most residents rely on walking and popular transport (notably trotro), it is challenging to reach essential services throughout the city via these modes. In fact, accessibility deserts exist for non-car modes, i.e., it is impossible to reach crucial destinations within a 30-minute walking radius especially in newly urbanised areas. Furthermore, popular transport is not fully meeting the needs of all travellers, e.g., additional costs and denial of access for heavy loads, disproportionately impact women, who often combine work-related travel with care responsibilities. The prohibition of potentially beneficial modes, such as three-wheelers and moto-taxis, could exacerbate accessibility gaps. This policy paper high-lights the need for sustainable, inclusive, and accessible transport systems in these dynamic and urbanising cities. |
| Keywords: | accessibility, gender, Ghana, sustainability, transport |
| JEL: | Q01 Q52 R41 R42 J16 |
| Date: | 2024–11–29 |
| URL: | https://d.repec.org/n?u=RePEc:oec:swacaa:46-en |
| By: | Dang, Hai-Anh H (World Bank); Carletto, Calogero (World Bank); Jolliffe, Dean (World Bank) |
| Abstract: | Existing data are severely insufficient for monitoring progress on the Sustainable Development Goals (SDGs), particularly for poorer countries. While we should continue efforts to produce new, high-quality data, this approach seems not feasible for all poorer countries. We call for a more systematic use of recent innovations with techniques such as data imputation to address existing data challenges. Given some resistance to utilizing new methods for filling data gaps, efforts aiming at changing the current perception and employing a mix of new data collection and data imputation can be useful. We also note that the best and most cost-effective approach would be highly context-specific and depends on various factors such as available budget, logistical capacity, and timeline. |
| Keywords: | poverty, imputation, Sustainable Development Goals, developing countries |
| JEL: | C15 I32 O15 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izapps:pp215 |
| By: | RENTOCCHINI Francesco (European Commission - JRC); VEZZANI Antonio; MONTRESOR Sandro |
| Abstract: | We examine whether government sponsored R&D induces the development of clean technologies with a high impact on subsequent technological development. The analysis uses information on USPTO patents granted between 2005 and 2015 and combines different methods to control for possible sorting of projects into public funding and for non-random (public) treatment. We also assess the distributional effect of government sponsored R&D. Results show that patents from public funded projects have a significantly higher impact and that this is particularly true for highly cited patents, thus supporting a role for technology-push policies in determining a clean technological transition. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:wpaper:202301 |
| 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: | Zilong Li (School of Economics, University College Dublin; Geary Institute for Public Policy, University College Dublin, Ireland); Xidong Guo (Vanke School of Public Health, Tsinghua University, Beijing 100084, China); Zuzanna Studnicka (School of Economics, University College Dublin, Ireland); Jiming Zhu (Vanke School of Public Health, Tsinghua University, Beijing 100084, China) |
| Abstract: | We examine the home advantage in the Chinese Basketball Association during the “neutral venues policy”, a period of approximately 2.5 years when games were relocated to neutral sites due to China’s strict COVID-19 regulations. We observe a reduced home advantage under this policy, providing a natural experiment to analyze the heterogeneous effects of neutral venues. We investigate these effects from two perspectives: (1) the relative strength of the home team and (2) the climate conditions of the home team’s original location. We find that stronger home teams are less affected by playing in neutral venues, suggesting that such teams rely less on the benefits of their home ground. Moreover, teams based in colder regions experience a more pronounced decline in home advantage during winter when they are unable to play on their home courts. |
| Keywords: | Home advantage; COVID-19; Neutral venues; Cold temperature; Team strength |
| JEL: | D91 L83 Q54 Z20 |
| Date: | 2024–12–16 |
| URL: | https://d.repec.org/n?u=RePEc:ucd:wpaper:202408 |
| 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: | 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: | 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: | 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: | Paul M. Lohmann (University of Cambridge); Elisabeth Gsottbauer (Free University of Bozen-Bolzano); Christina Gravert (Department of Economics, University of Copenhagen); Lucia A. Reisch (Judge Business School, University of Cambridge,) |
| Abstract: | This paper explores the relationship between decision-making speed and the effectiveness of two nudges – carbon footprint labelling and menu repositioning – aimed at encouraging climate-friendly food choices. Building on Kahneman’s dual-process theory of decision-making, we examine whether these interventions are more effective in fast, intuitive (System 1) contexts compared to reflective, deliberate (System 2) ones. Using an incentivized online randomized controlled trial with a quasirepresentative sample of British consumers (N=3, 052) ordering meals through an experimental food-delivery platform, we introduced a time-pressure mechanism to capture both fast and slow decision-making processes. Our findings suggest that menu repositioning is an effective tool for promoting climate-friendly choices when decisions are made quickly, though the effect fades with extended deliberation. Carbon labels, in contrast, showed minimal impact overall but reduced emissions among highly educated, climate-conscious individuals under time pressure. The results imply that choice architects should apply both interventions in contexts where consumers make rapid decisions, such as digital platforms, to help mitigate climate externalities. |
| Keywords: | carbon-footprint labelling, choice architecture, food-delivery apps, low-carbon diets, dual-process models, system 1 |
| JEL: | C90 D04 I18 D90 Q18 Q50 |
| Date: | 2024–12–13 |
| URL: | https://d.repec.org/n?u=RePEc:kud:kucebi:2419 |
| 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: | Satyanand, Premila Nazareth |
| Abstract: | FDI could significantly propel global progress on sustainable development, if host countries make it the core driver for all aspects of investment attraction and facilitation - a "must do" instead of a "nice to do." This Perspective outlines how they might do this through focused investor targeting, messaging, servicing and monitoring. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:colfdi:306299 |
| 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: | 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: | 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: | Kungl, Gregor |
| Abstract: | Dieser Beitrag schafft einen Überblick über den Stand der Forschung zur Rolle etablierter Unternehmen (Incumbents) emissionsintensiver Wirtschaftsbereiche (Energieversorgung, Transport, Lebensmittelversorgung und verarbeitende Industrie) in nachhaltigen Transformationsprozessen. Anhand eines systematischen Reviews von 175 Fallstudien aus der nachhaltigen Transitionsforschung (Sustainability-Transitions) leistet er drei konzeptionelle Beiträge: Erstens bietet er eine (Neu-)Definition des Begriffs Incumbent, die auf die Transitionsforschung zugeschnitten ist und bisherigen begrifflichen Unschärfen begegnet. Zweitens formuliert er sieben Idealtypen von etablierten Unternehmen in nachhaltigen Transformationsprozessen, die über dichotome Rollenzuschreibungen hinausgehen und der Ambiguität und temporalen Dynamik der Aktivitäten von Incumbents gerecht werden. Drittens arbeitet er zehn Einflussfaktoren heraus, die den heterogenen Umgang von etablierten Unternehmen mit nachhaltigkeitsbezogenen Herausforderungen erklären können. Aus den Ergebnissen werden Perspektiven für die zukünftige Forschung über etablierte Unternehmen in nachhaltigen Transformationsprozessen abgeleitet. |
| Abstract: | This paper gives an overview of the state of research on the role of incumbents in emission-intensive economic sectors (energy supply, transportation, food supply and processing industries) in sustainable transformation processes. Based on a systematic review of 175 case studies from sustainability transitions research, it makes three conceptual contributions: First, it offers a (new) definition of the term incumbent that is tailored to transition research and addresses previous conceptual ambiguities. Secondly, it formulates seven ideal types of incumbent firms in sustainable transformation processes that go beyond dichotomous role attributions and do justice to the ambiguity and temporal dynamics of the activities of incumbents. Thirdly, it identifies ten factors that can explain the heterogeneous responses of incumbent firms to sustainability-related challenges. Finally, perspectives for future research on incumbent companies in sustainable transformation processes are derived from the results. |
| Keywords: | Unternehmen, Umweltbelastung, Umweltmanagement, Corporate Social Responsibility, Organisatorischer Wandel, Systematic Literature Review |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:stusoi:306345 |
| 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 |
| By: | RENDA Andrea |
| Abstract: | This paper focuses on ways to ensure coherence between place-based innovation and EU industrial policy, and proposes a new approach to sustainable, resilient and secure development in the EU. Underlying the proposed approach is the recognition that past attempts at goal-based policymaking, including the European Green Deal, have overlooked key trade-offs such as those involving socio economic impacts and territorial impacts. This in turn created discontent and a significant polarisation of public opinion, with non-metropolitan areas witnessing a rise in the anti-European sentiment. The paper argues that mono-dimensional approaches to industrial development (e.g. decarbonisation pathways) are unlikely to deliver prosperity and well-being, which stand as the ultimate goals of the European Union; and that a multi-dimensional approach aimed at addressing key trade-offs are much more suitable to such enterprise. In outlining a backcasting, mission-oriented and foresight-inspired approach, this paper suggests that the EU fully embraces economic complexity when looking at its geography, and that of the rest of the world. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc139506 |
| By: | Hart, Oliver D.; Landemore, Hélène; Zingales, Luigi |
| Abstract: | We propose a novel way to give mutual funds' investors a voice, an alternative to the pass-through voting large mutual funds companies are starting to implement. Based on the experience of citizen assemblies in the political sphere, we propose allocating the power to decide how to cast mutual funds' votes in corporate ballots on environmental, social, and political issues to a randomly drawn assembly of its investors. We analyze the advantages and limitations of such a model and discuss various implementation issues. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cbscwp:307593 |
| 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: | Ghislain B. D. Aïhounton (Laboratory of Analysis and Research on Economic and Social Dynamics, University of Parakou, Benin; Department of Food and Resource Economics, University of Copenhagen); Arne Henningsen (Department of Food and Resource Economics, University of Copenhagen) |
| Abstract: | While price premiums incentivise farmers to engage in organic farming, these premiums are frequently insufficient to compensate for lower yields, resulting in no monetary benefits from adopting organic farming. This study goes beyond purely monetary outcomes and investigates how organic farming is related to both monetary and non-monetary outcomes, including farmers’ general life satisfaction or ‘happiness’. We use data collected from organic and conventional cotton growing households in Benin and employ Structural Equation Modelling in order to investigate the pathways through which organic farming is related to happiness. Our findings indicate that organic farming is positively associated with happiness through farmers’ improved (self-reported) health and increased satisfaction with their work as well as through a direct relationship between organic farming and happiness. While a negative association between organic farming and income exists, it only reduces the overall positive relationship between organic farming and happiness to a very limited extent. Thus, our results show that non-monetary outcomes may be important drivers of the adoption of sustainability standards as well as relevant measures of farmers’ welfare when evaluating policies and programmes. |
| Keywords: | organic farming, happiness, life satisfaction, non-monetary measures of wellbeing, income, farm households. |
| JEL: | D60 I31 O13 Q12 Q18 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:foi:wpaper:2024_01 |
| By: | Richard Grieveson (The Vienna Institute for International Economic Studies, wiiw); Mario Holzner (The Vienna Institute for International Economic Studies, wiiw); Branimir Jovanović (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | Why did the socialist system that dominated Eastern European countries for much of the 20th century collapse around 1990? Drawing on the newly released wiiw COMECON Dataset and reports that the wiiw was publishing at that time, we explore whether the collapse was due to unfixable systemic flaws of the socialist economies, an unfavourable global environment since the mid-1970s, or policy mistakes made by socialist leaders. Our analysis concludes that all three factors contributed to the collapse. Although the international context – with rising oil prices and interest rates – and the limited openness and competitiveness of socialist economies presented significant challenges, these economies might have survived without the sharp rise in borrowing during the 1970s, the Soviet Union’s squandering of the oil windfall between 1973 and 1985, the failure of Gorbachev’s reforms in the late 1980s, and exchange rate mismanagement in Hungary, Poland, Romania and Yugoslavia. A particularly grave policy mistake was the Soviet Union’s 1975 decision to replace the fixed five-year oil pricing system with one based on annual adjustments using a five-year moving average tied to world market prices, which exposed the COMECON countries to the full force of the 1970s energy crisis, thereby triggering – or at least catalysing – the system’s collapse. Finally, we also find that extreme weather events played a significant role by causing crop failures, which led to a loss of hard currency export revenues and subsequent current account issues. wiiw COMECON Dataset https //comecon.wiiw.ac.at/ |
| Keywords: | socialism, communism, COMECON, Eastern Bloc, collapse, systemic deficiencies, international environment, policy mistakes, climate crisis, energy crisis |
| JEL: | N14 P20 P24 P27 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:wii:rpaper:rr:477 |
| By: | Bernhard Mayr |
| Abstract: | An increased frequency and intensity of climate-related natural catastrophes has created significant challenges for both the private and the public sector. Existing risk-sharing approaches are reaching their efficacy limits, pushing governments to take on an increasing share of the burden as private-sector solutions become less affordable or available. This paper outlines how adding a European loan-based backstop facility to the risk-sharing hierarchy can contribute to a more efficient solution and why it may enhance private insurers’ risk-taking capacity. We elaborate on the mechanics of such an approach and show how it could increase private sector insurance capacity without additionally burdening the public. |
| Date: | 2024–11–27 |
| URL: | https://d.repec.org/n?u=RePEc:stm:dpaper:24 |
| 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: | Brilé Anderson; Jorge Patiño; Jennifer Sheahan; Prof. Kwadwo Owusu; Dr. Ernest Agyemang; Dr. Doris Boateng; Yaroslav Kholodov; Nick Carros; Alex Johnson |
| Abstract: | Accra et Kumasi, deux villes ghanéennes en pleine expansion, font face à des défis croissants en matière de transport avec une augmentation de la pollution atmosphérique, des embouteillages et des accidents de la circulation. La majorité des habitants s’y déplacent à pied ou en transports populaires (notamment en tro-tro), confrontés à un accès aux services essentiels encore difficile. De véritables déserts d’accessibilité existent pour les modes de transport autres que la voiture, notamment dans les zones nouvellement urbanisées, où il est impossible d’atteindre les services essentiels en 30 minutes de marche. De plus, les transports populaires ne répondent pas pleinement aux besoins des usagers, en imposant par exemple des coûts supplémentaires ou en refusant l’accès aux personnes transportant de lourdes charges ou accompagnées d’enfants. Cette situation affecte de manière disproportionnée les femmes, qui combinent souvent déplacements professionnels et charges familiales. L’interdiction de certains modes de transport, comme les trois roues et les motos-taxis dans les deux villes, risque d’aggraver ces problèmes d’accessibilité. Cette note souligne les besoins en systèmes de transport durables, inclusifs et accessibles dans ces deux villes en pleine urbanisation. |
| JEL: | Q01 Q52 R41 R42 J16 |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:oec:swacab:46-fr |
| By: | Harris, Nicholas |
| Abstract: | Literature attesting to the existence of a resource ‘curse’ implied that economic prospects for resource abundant nations were poor and out of their hands. Not only had resource abundance created difficult-tomanage structural conditions, but it had also corrupted institutions and, in turn, condemned nations to further negative management of resources in the future. A critical branch of literature rose in opposition, suggesting that the outcomes of resource abundant nations had not been predetermined by their resources, but had been contingent on active institutional management. Correct management could not only have mitigated the immediate structural and institutional impacts of the socalled ‘curse, ’ but it could also have prevented the degradation of these virtuous institutional behaviours themselves. This comment will add to the debate by demonstrating which theory applies better to the case of Chile during its nitrate era: which stated ‘curse’ effects struck Chile, and how culpable was institutional management in this process? I find that whilst there are definite ‘curse’ symptoms, institutional management played a larger role than ‘determinists’ would predict, supporting the ‘activist’ strand of argument. This is not to downplay, however, the pressures that resource abundance exerted, even in countries that had a claim to institutional exceptionality. |
| JEL: | O13 N56 |
| Date: | 2024–11–22 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:wpaper:126154 |
| 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: | Diana Cook; Hilary Devine; Anna Golebicka-Buchanan (The Treasury) |
| Abstract: | This paper provides a summary of the Treasury’s Guest Lecture Series (TGLS) on the theme of Productivity in a Changing World, which ran over 2023-24. The purpose of the TGLS is to bring the latest research and cutting-edge thinking into the Treasury, and to foster public engagement and debate. We chose the theme of Productivity in a Changing World in recognition that lifting our productivity performance continues to be central to improving New Zealanders’ wellbeing, but that we are facing this challenge in the context of significant economic, social and environmental shifts. It has been a fascinating and thought-provoking series. We heard from a range of excellent speakers, exploring the implications of the changing world we find ourselves in and what this means for productivity growth in New Zealand and around the world. The Treasury has already been drawing on the insights from the series to inform its work, particularly in a recent Treasury Paper that explores trends in New Zealand’s productivity performance to inform our economic forecasts. This paper draws out themes that emerged across the seminar series, as well as providing a summary of the presentation from each speaker. There were many insights and different perspectives. Our speakers, and their discussions with audiences, have highlighted the wide-ranging and complex interaction between global trends and productivity. However, the following themes emerged through the series: Most of the speakers recognised the global productivity slowdown, and that New Zealand has not been exempted. While there were different degrees of optimism for the future, several speakers signalled that there are challenges ahead. Many speakers highlighted the importance of innovation and technological change, as well as the debate on the extent to which innovation will contribute to future productivity. Linked to the role of innovation, the importance of skills and capabilities which support the diffusion and adoption of new technologies, was highlighted by many speakers. The role of management capabilities was particularly emphasised. Last, but not least, many of our speakers explored the theme of climate change and productivity, including the compatibility of climate change and productivity goals. This paper aims to capture the key lessons from the series and help others to access them. If you want to delve deeper into the presentation of any of the speakers, you can find video, transcripts and slides on the Treasury website. |
| Date: | 2024–06–26 |
| URL: | https://d.repec.org/n?u=RePEc:nzt:nzttps:tp24/02 |
| 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: | 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: | Bernard Gazier (Centre d'Economie de la Sorbonne); Frédéric Bruggeman (Ex-expert auprès des comités d'entreprise) |
| Abstract: | This paper presents and discusses the idea that political democracy and social democracy must be coupled in order to successufully deal with the challenges of a necessarily radical ecological turning point. We face a double paradox here, because social dialogue nowadays is patchy and weakened, and because unions mainly relay the legitimate concerns of the workers, fearing the job losses and improverishment risks stemming from the ecological crisis as well as from the measures implemented to address it. However it is more than ever necessary to actively involve all the stakeholders, especially the workers. The paper argues that in order to do so, social dialogue must be enlarged and renewed. We proceed in four steps. First, we analyse the present difficulties of the political process and suggest that overcoming them implies among others to set out a new social contract, replacing the previous fordist one. Second, we examine the concrete ways through which the actors and stakes of environment are currently introduced in the social dialogue as it is practiced in Europe, and we show that such an introduction does not come up to the challenge. Third, we introduce a theoretical perspective, enlarging the picture and focussing on workers' "real freedom" and on the old and new forms of scarcities that our societies confront. Fourth and last, we go back to social dialogue and discuss the important transformations it needs in order to simultaneously foster workers' emancipation and the ecological turning point |
| Keywords: | Social dialogue; ecological transition; capabilities; "transitional labour markets" |
| JEL: | J22 J24 J50 J62 J80 |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:mse:cesdoc:24002r |