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on Microeconomic European Issues |
| By: | Marco Di Cataldo (Department of Economics, Ca’ Foscari University of Venice; Department of Geography and Environment, London School of Economics); Elena Renzullo (Department of Economics, Ca’ Foscari University of Venice; Department of Geography and Environment, London School of Economics) |
| Abstract: | The EU Cohesion Policy, with its ability to influence the socio-economic trajectories of European regions and cities, also has the potential to shape the political preferences of citizens. While some evidence exists regarding the impact of EU funds on national electoral outcomes, their role for local elections remains largely unexplored, overlooking the inherently territorial nature of Cohesion Policy and the pivotal role played by local policymakers in its activation and implementation. This study leverages detailed administrative data on European development projects to investigate the impact of EU funds on the political support for local incumbent politicians in Italy. It studies the relationship between the inflow of European funds and the probability of re-election for Italian mayors, considering different project types that reflect the mayors’ ability to attract European funds. The results reveal that Cohesion Policy plays a critical role in shaping local voting behaviours. Larger and more visible projects significantly increase the chances of mayoral re election. Moreover, local contexts characterised by faster growth, where EU projects effectively improve municipal public services, witness the greatest electoral gains for incumbents. These results underscore the importance of the design, visibility, and effectiveness of local development projects in determining the political impact of EU redistributive policies. |
| Keywords: | EU Cohesion Policy, incumbent re-election, political preferences, redistribution, local voting behaviour |
| JEL: | D72 I38 H7 R58 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ven:wpaper:2024:02&r=eur |
| By: | Davide Antonioli (University of Ferrara); Alberto Marzucchi (Gran Sasso Science Institute); Francesco Rentocchini (European Commission, Joint Research Centre (JRC), Seville; Department of Economics Management and Quantitative Methods (DEMM), University of Milan); Simone Vannuccini (Université Côte d'Azur, CNRS, GREDEG, France) |
| Abstract: | We investigate the unexplored relationship between robot technology adoption and product innovation. We exploit Spanish firm-level data on robot adoption and use a staggered timing difference-in-differences, supported by an instrumental variable approach. Instead of an enabling effect, we find a negative association between robot adoption and the probability to introduce product innovations, as well as their number. The result is particularly significant for larger, established, and non-high-tech firms. In line with industry evolution models, we rationalise and interpret the findings suggesting that a key mechanism at work in the robotisation-innovation nexus are diseconomies of scope fuelled by capacity-increasing investments. We also discuss whether industrial robots in our data feature enabling capabilities at all. Our results have important implications for understanding the role of robots in firms’ operations and strategies, as well as for policy design. |
| Keywords: | robots, automation, product innovation, diseconomies of scope, Spain |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2024-01&r=eur |
| By: | Philipp, Marie-Fleur (University of Tübingen); Büchau, Silke (University of Tübingen); Schober, Pia S. (University of Tübingen); Werner, Viktoria (University of Tübingen); Spieß, C. Katharina (Bundesinstitut für Bevölkerungsforschung (BiB)) |
| Abstract: | Not only the quantity of formal daycare provision for young children, but also its quality has become an issue of political concern. This experimental study investigates how a hypothetical improvement in the quality of daycare facilities shapes normative judgements regarding daycare use and working hours norms for parents with young children in Germany. The analysis is framed using capability-based explanations combined with theoretical concepts of ideals of care and normative policy feedback theories. We draw on a factorial survey experiment implemented in 2019/2020 in the German Family Panel (pairfam) measuring underlying work-care norms for a couple with a 15-month-old child under different contextual conditions. Ordered logistic and linear multilevel regressions were conducted with 5, 324 respondents. On average, high hypothetical daycare quality for young children leads respondents to recommend greater daycare use and longer working hours for mothers and fathers by about 1 hour per week. Respondents who hold more egalitarian gender beliefs, those with tertiary education, native Germans and parents tend to respond more strongly to higher daycare quality by increasing their support for full-daycare use. The results consistently point to the relevance of high quality for increasing the acceptance and subsequently take-up of formal daycare. |
| Keywords: | work-care norms, gender beliefs, care ideals, early childhood education and care, daycare, childcare, factorial survey, pairfam, Germany |
| JEL: | I2 J13 J16 J22 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16729&r=eur |
| By: | Costi, Chiara (University of Luxembourg); Clark, Andrew E. (Paris School of Economics); Lepinteur, Anthony (University of Luxembourg); D'Ambrosio, Conchita (University of Luxembourg) |
| Abstract: | We evaluate the effect of the COVID-19 pandemic on the life satisfaction of healthcare workers, as compared to the wider workforce, in five European countries. In ten waves of quarterly panel data, the life satisfaction of healthcare workers is always higher than that of other essential workers and non-essential workers. Life satisfaction follows a double humped pattern over time for all workers, which is largely explained by the COVID-19 death rate and policy stringency. The spread of the pandemic in terms of the death rate has twice as large an effect on healthcare workers' life satisfaction; on the contrary, the latter are the only workers whose satisfaction was not affected by the stringency of lockdown policies. |
| Keywords: | healthcare workers, life satisfaction, COVID-19, policy stringency |
| JEL: | H51 I18 I31 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16680&r=eur |
| By: | Klara Kinnl (Department of Economics, Vienna University of Economics and Business); Urlich Wohak (Department of Economics, Vienna University of Economics and Business) |
| Abstract: | We study price and volume effects of VAT reductions for period products. We exploit varying treatment intensities and timing in several European countries and find that in response to a one percentage point reduction in the VAT, prices decrease by 0.55% in the following 12 months. Pass-through rates range from full pass-through to over-shifting 12 months post policy change, with low-income households benefiting the most. While the average effect on aggregate purchase volumes is statistically zero, low income households’ demand is stimulated. We find evidence that households purchase higher quality products as a result of the tax reform. |
| Keywords: | tax pass-through, VAT reduction, tampon tax, scanner data, tax incidence |
| JEL: | H2 H31 H22 D12 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwwuw:wuwp356&r=eur |
| By: | Camarero Garcia, Sebastian |
| Abstract: | Over the 2000s, many federal states in Germany shortened the duration of secondary school by one year while keeping the curriculum unchanged. The quasi-experimental variation arising from the staggered introduction of this reform allows me to identify the causal effect of increased learning intensity, the ratio of curricular content covered per year, on Inequality of Educational Opportunity (IEOp), the share in educational outcome variance explained by predetermined circumstances beyond a student's control. Findings show that higher learning intensity aggravated IEOp due to parental resources becoming more important through support opportunities like private tuition, adapting to an intensified educational process. The effect is stronger for mathematics/science than for reading, implying the existence of subject-dependent curricular flexibilities. My findings underscore the importance of accounting for distributional consequences when evaluating reforms aimed at increasing educational efficiency and point to the role of learning intensity for explaining changes in educational opportunities influencing social mobility. |
| Keywords: | compulsory education; educational efficiency; human capital; inequality of opportunity; school reform; social mobility |
| JEL: | D63 H75 I28 J24 J62 |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:113365&r=eur |
| By: | Kinnl, Klara; Wohak, Ulrich |
| Abstract: | We study price and volume effects of VAT reductions for period products. We exploit varying treatment intensities and timing in several European countries and find that in response to a one percentage point reduction in the VAT, prices decrease by 0.55% in the following 12 months. Pass- through rates range from full pass-through to over-shifting 12 months post policy change, with low- income households benefiting the most. While the average effect on aggregate purchase volumes is statistically zero, low income households’ demand is stimulated. We find evidence that households purchase higher quality products as a result of the tax reform. |
| Keywords: | tax pass-through; VAT reduction; tampon tax; scanner data; tax incidence |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wus005:59343848&r=eur |
| By: | Lehmann, Tobias (USI Università della Svizzera Italiana) |
| Abstract: | I study inequality in job values, both in terms of wages and non-wage values, in Austria over the period 1996 to 2011. I show that differences in non-wage job value between firms are non-parametrically identified from data on worker flows and wage differentials. Intuitively, firms with high non-wage value attract workers without paying a wage premium. I study the distribution of job value among workers and find a positive correlation between wage and non-wage value. Inequality in job value is thus considerably greater than wage inequality, reflected in the standard deviation of job value being more than twice as large as the standard deviation of wage. Job value inequality increases between 1996 and 2011, although wage inequality remains constant. An important reason is that, over time, dispersion of rents offered by firms increases, while compensating differentials lose importance. |
| Keywords: | inequality, amenities, worker heterogeneity, firm heterogeneity, on-the-job search, wage dispersion, matched employer-employee data |
| JEL: | E24 J31 J32 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16663&r=eur |
| By: | Antonio Sileo (Fondazione Eni Enrico Mattei); Monica Bonacina (Fondazione Eni Enrico Mattei) |
| Abstract: | This paper studies the effects of the latest European regulations on carbon emissions on the Italian car market and discusses the possibility of achieving climate neutrality of road transport through the “mere” replacement of cars currently on the road with new zero-emission cars. Since 2016, automakers’ production strategies have changed dramatically, with an increasing number of zero (and low) emission models on car lists. To date, these changes on the supply side have not been matched by similar changes in purchasing habits. In recent years, not only have few zero (and low) emission cars been sold, but also few new cars. Unless epoch-making changes occur, it is completely unrealistic to think that we can achieve climate neutrality by 2050 by leveraging exclusively on the renewal of the fleet. |
| Keywords: | automotive market, sustainable mobility, road transport decarbonization, electro-mobility, EU-car CO2 regulation |
| JEL: | L62 Q55 Q58 R41 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2024.01&r=eur |
| By: | Ana L. Abeliansky (Department of Economics, Vienna University of Economics and Business); Klaus Prettner (Department of Economics, Vienna University of Economics and Business); Roman Stoellinger (Department of Economics, Vienna University of Economics and Business) |
| Abstract: | We propose a model of production featuring the trade-off between employing workers versus employing robots and analyze the extent to which this trade-off is altered by the emergence of a highly transmissible infectious disease. Since workers are - in contrast to robots - susceptible to pathogens and also spread them at the workplace, the emergence of a new infectious disease should reduce demand for human labor. According to the model, the reduction in labor demand concerns automatable occupations and increases with the viral transmission risk. We test the model's predictions using Austrian employment data over the period 2015-2021, during which the COVID-19 pandemic increased the infection risk at the workplace substantially. We find a negative effect on occupation-level employment emanating from the higher viral transmission risk in the COVID years. As predicted by the model, a reduction in employment is detectable for automatable occupations but not for non-automatable occupations. |
| Keywords: | Automation, robots, pandemics, viral transmission risk, occupational employment, shadow cost of human labor |
| JEL: | I14 J21 J23 J32 O33 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwwuw:wuwp352&r=eur |
| By: | Kosfeld, Reinhold; Mitze, Timo; Rode, Johannes; Wälde, Klaus |
| Abstract: | The paper studies the containment effects of public health measures to curb the spread of Covid‐19 during the first wave of the pandemic in spring 2020 in Germany. To identify the effects of six compound sets of public health measures, we employ a spatial difference‐in‐differences approach. We find that contact restrictions, mandatory wearing of face masks and closure of schools substantially contributed to flattening the infection curve. The significance of the impact of restaurant closure does not prove to be robust. No incremental effect is evidenced for closure of establishments and the shutdown of nonessential retail stores. |
| Date: | 2023–12–22 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:142046&r=eur |
| By: | Edith Kouakou; Marielle Brunette; Richard Koenig; Philippe Delacote |
| Abstract: | The links between nitrogen uses and insurance are explored in this paper via the comparison of two insurance mechanisms: multi-peril crop insurance currently offered in France, and an index insurance based on area yields. A simulation of the two insurance systems on a data set at plot scale for two crops (maize and grassland) in the French department, Deux-S`evres, over the period 2010-2013, allowed us to define the most advantageous system in terms of yield loss coverage. Using the simulation result, we then modelled the relationship between nitrogen fertilisation and insurance eligibility for each of the two schemes based on a production function that links nitrogen to the yields. We found a mixed effect of nitrogen on insurance eligibility in both schemes for the two crops considered, suggesting that the effects of policies aimed at reducing nitrogen fertiliser use differ depending on the insurance system and the crop type. These results highlight the usefulness of crop-specific insurance contracts and bring insights to the current debates about crop insurance reform in various European countries, including France. |
| Keywords: | Crop Insurance; Nitrogen fertiliser; Risk; French Agriculture. |
| JEL: | Q14 G22 Q50 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2023-38&r=eur |
| By: | Dirk Broeders; Marleen de Jonge; David Rijsbergen |
| Abstract: | We document a positive and statistically significant carbon premium that investors demand for investing in bonds issued by high carbon-emitting firms in the euro area. Over the entire sample period, we estimate that doubling a firm’s Scope 1 and 2 emissions results in an average increase of 6.6 basis points in the spread on the firm’s issued bonds. In addition, we find that the carbon premium has increased since 2020 and the effect reached 13.9 basis points by early 2022. These results suggest that European companies with high levels of carbon emissions are experiencing progressively higher financing costs. Our research also reveals a distinctive carbon premium term structure, rising with longer maturities. Interestingly, over time the term structure flat tens, suggesting investors’ confident anticipation of ongoing carbon pricing in the European Union at a stable pace. |
| Keywords: | Carbon Premium; Carbon Premium Term Structure; Climate Change; Climate Transition Risk |
| JEL: | G12 G15 G23 Q51 Q54 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:798&r=eur |
| By: | Chaves, J. P.; Cossent, R.; Gómez San Román, T.; Linares, P.; Rivier, M. |
| Abstract: | The current European energy crisis, caused to a large extent by the unlawful invasion of Ukraine by Russia, has renewed calls for a deep reform of the European electricity market. In this paper, we look at the alternatives proposed for the reform of the European electricity market, analysing their advantages and disadvantages, and we put forward a specific proposal for the reform. We focus mostly on measures directed at the wholesale generation market, although we also propose some changes that we believe will also be needed at the retail level. Emergency measures to tackle the current energy crisis, which are not necessarily consistent with the long-term reform and should definitely not determine the long-term design of the European electricity market, are very briefly assessed in an annex, including their compatibility with this long-term reform. |
| Keywords: | Electricity market, energy transition, renewables |
| JEL: | Q41 L51 L94 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2325&r=eur |
| By: | Nino Buliskeria (Institute of Economic Studies of the Faculty of Social Sciences, Charles University, Prague, Czech Republic & The Czech Academy of Sciences, Institute of Information Theory and Automation, Prague, Czech Republic); Jaromir Baxa (Institute of Economic Studies of the Faculty of Social Sciences, Charles University, Prague, Czech Republic & The Czech Academy of Sciences, Institute of Information Theory and Automation, Prague, Czech Republic); Tomas Sestorad (Institute of Economic Studies of the Faculty of Social Sciences, Charles University, Prague, Czech Republic & The Czech Academy of Sciences, Institute of Information Theory and Automation, Prague, Czech Republic & The Czech National Bank, Prague, Czech Republic) |
| Abstract: | The news-based Economic Policy Uncertainty indices (EPU) of Germany, France, and the United Kingdom display discernible trends that can be found neither in other European countries nor in other uncertainty indicators. Therefore, we replicate the EPU index of European countries and show that these trends are sensitive to the rather arbitrary choice of normalizing the raw counts of news related to economic policy uncertainty by the count of all newspaper articles. We show that an alternative normalization by news on economic policy leads to different long-term dynamics with less pronounced trends and markedly lower uncertainty during recent periods of uncertainty such as Brexit or the COVID-19 pandemic. Consequently, our results suggest that the effects of uncertainty related to these events on economic activity may have been overestimated. |
| Keywords: | economic policy uncertainty, trend-cycle decomposition, reproducibility, reliability |
| JEL: | D80 E66 E32 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2024_01&r=eur |
| By: | Monika Junicke; Jakub Mateju; Haroon Mumtaz; Angeliki Theophilopoulou |
| Abstract: | We investigate the heterogeneity in the effects of monetary policy shocks on the distribution of wages and hours worked, using unique contract-level data from the Czech labor market and identifying monetary policy shocks using a narrative approach based on market surprises in interest rate futures. The results suggest that low-wage groups are hit more profoundly by monetary policy shocks than high-wage groups, and the effect of restrictive shocks is stronger in the manufacturing sector than in any other. Exploring other dimensions of the data offers insights into the heterogeneity of the the impact of monetary policy on different demographic groups. We show that low-educated and also young workers are more affected by restrictive monetary policy shocks due to their higher shares in low-wage groups. |
| Keywords: | Heterogeneity, monetary policy, shock identification, wage inequality |
| JEL: | C32 E24 E52 J31 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:cnb:wpaper:2023/4&r=eur |
| By: | Avdeitchikova, Sofia (Lund University); Schwaag Serger, Sylvia (Lund University) |
| Abstract: | In recent years, countries, regions, municipalities and the EU Commission have introduced a significant number of innovation policy initiatives under the banner of ‘missions’, ‘societal challenges’, sustainability and ‘transformation’, or systemic change. In parallel, there has been a rapidly growing body of literature seeking to analyze or assess these real-world manifestations of attempts to pivot innovation policy towards environmental and societal challenges. The aim of this chapter is to provide a reflexive overview of state of the art of the knowledge on transformative innovation policy design and implementation. To contribute real-world, real-time learning for planned or ongoing policymaking, we also synthesize lessons and insights from recent policy initiatives in Sweden, Finland and the Netherlands, with the purpose of distilling them into policy-relevant observations. Based on these, we draw conclusions on what recent experiences from trying to design and implement transformative innovation policies in the respective national and institutional contexts tell us about the role of innovation policy, and implicitly, the role of the state, in driving transformation. |
| Keywords: | innovation policy; transformation; societal challenges; public policy |
| JEL: | H11 I28 O33 O38 |
| Date: | 2024–01–07 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2024_001&r=eur |
| By: | Theodoros Chatzivasileiadis; Ignasi Cortes Arbues; Jochen Hinkel; Daniel Lincke; Richard S. J. Tol |
| Abstract: | This study investigates the long-term economic impact of sea-level rise (SLR) on coastal regions in Europe, focusing on Gross Domestic Product (GDP). Using a novel dataset covering regional SLR and economic growth from 1900 to 2020, we quantify the relationships between SLR and regional GDP per capita across 79 coastal EU & UK regions. Our results reveal that the current SLR has already negatively influenced GDP of coastal regions, leading to a cumulative 4.7% loss at 39 cm of SLR. Over the 120 year period studied, the actualised impact of SLR on the annual growth rate is between -0.02% and 0.04%. Extrapolating these findings to future climate and socio-economic scenarios, we show that in the absence of additional adaptation measures, GDP losses by 2100 could range between -6.3% and -20.8% under the most extreme SLR scenario (SSP5-RCP8.5 High-end Ice, or -4.0% to -14.1% in SSP5-RCP8.5 High Ice). This statistical analysis utilising a century-long dataset, provides an empirical foundation for designing region-specific climate adaptation strategies to mitigate economic damages caused by SLR. Our evidence supports the argument for strategically relocating assets and establishing coastal setback zones when it is economically preferable and socially agreeable, given that protection investments have an economic impact. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2401.00535&r=eur |
| By: | Martijn A. Boermans; Maurice Bun; Yasmine van der Straten |
| Abstract: | We study whether climate transition risk is priced in corporate bond markets. We assess whether corporate bond investors value companies’ efforts to mitigate climate change by innovating in the green space. By combining global firm-level data on greenhouse emissions and green patents with bond-level holdings data, we provide evidence of a positive transition risk premium, which is significantly lower for emission intensive companies that engage in green innovation. The joint effect of emission intensity and green innovation on bond yield spreads is driven by European investors, specifically institutional investors. Overall, our results indicate that investors care about whether companies are ‘fit’ for the green transition. |
| Keywords: | Climate Change; Climate Transition Risk; Carbon Premium; Greenium; Green Innovation; Green Patents; Institutional Investors; Institutional Ownership |
| JEL: | G12 G15 G23 Q51 Q54 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:797&r=eur |
| By: | Többen, Johannes; Banning, Maximilian; Hembach-Stunden, Katharina; Stöver, Britta; Ulrich, Philip; Schwab, Thomas |
| Abstract: | The European Green Deal mandates a substantial transformation of the energy sector, responsible for more than 80 % of total greenhouse gas emissions. This study investigates the economic implica-tions of achieving climate neutrality in the European energy sector in light of the EU's core goal of economic cohesion, i.e. harmonious economic development across European regions. Employing a novel multi-regional input-output model, our analysis reveals how the renewable energy transition affects European regions. Under complete decarbonisation, changes in value added per capita range from -2, 450 Euro to +1, 570 Euro, and employment levels fluctuate between -2.1 % and +4.9 %. On average, most regions experience positive effects, characterised by an average increase in value added per capita of 10 Euro and a 0.3 % rise in employment in 2050. Overall, rural regions with sub-stantial renewable energy potential derive the greatest benefits, while urban regions heavily reliant on carbon-intensive industries are more likely to experience adverse effects. This dynamic fosters economic cohesion by providing opportunities for lagging regions to catch up, yet also poses fresh challenges to achieving this goal. Therefore, cohesion policy must expand its scope to counter the adverse effects as well as leveraging opportunities created by the renewable energy transition in all European regions. |
| Keywords: | energy, transition, cohesion, inequality, regions |
| JEL: | C67 O11 Q43 |
| Date: | 2023–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119374&r=eur |
| By: | Rowland, Neil; McVicar, Duncan; Vlachos, Stavros; Jahanshahi, Babak; McGovern, Mark E.; O’Reilly, Dermot |
| Abstract: | Extensive evidence shows exposure to ambient PM2.5 is associated with a wide range of poor health outcomes. But few studies examine genuinely long-run pollution exposures in nationally representative data. This study does so, exploiting longitudinally-linked Census data for Northern Ireland, linked to annual average PM2.5 concentrations at the 1km grid-square level from 2002-2010, exploiting complete residential histories. We show strong unconditional associations between PM2.5 exposure, self-rated general health, disability, and all available (eleven) domain-specific health measures in the data. Associations with poor general health, chronic illness, breathing difficulties, mobility difficulties, and deafness are robust to extensive conditioning and to further analysis designed to examine sensitivity to unobserved confounders. |
| Keywords: | Long-term exposure to ambient air pollution, PM2.5, population health, linked Census data, neighbourhood fixed effects, Oster method for unobserved confounding |
| JEL: | I10 I18 Q53 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:qmsrps:202401&r=eur |
| By: | Juan S. Mora-Sanguinetti (Banque de France - Eurosystème and Banco de España - Eurosistema); Andrés Atienza-Maeso (Universidad Carlos III and Banco de España - Eurosistema) |
| Abstract: | The achievement of an environmentally sustainable growth model, the development of renewable energies or the adoption of energy efficiency measures are nowadays fundamental issues in economic analysis and are a substantial part of the public debate. However, while there may be an increased social awareness of these issues, a different question is at what pace these social concerns have been translated into regulation, fostering or hindering the development of new markets or “green” technologies. This paper proposes a rigorous empirical study identifying and quantifying, through text analysis, all regulations related to four different subject blocks associated with “green growth” (renewable energies, sustainable transportation, pollution and energy efficiency), issued by Spanish national or regional governments over the period 2000-2022. This research thus constructs a database in panel data format. Among other results, we identify 3, 482 regulations related to renewable energies, 783 regulations dealing with sustainable transportation, 108 on pollution management and 5, 116 related to the measurement (and management) of energy efficiency. The results show that regulation is diverse by subject matter, reflects significant regional diversity and has increased over time, especially in more recent years, after a certain standstill during the Great Recession. This database could help develop future research projects on the impacts of “green” regulation on certain economic or institutional variables (such as “green” innovation or environmental conflict). The paper concludes with a comparison of renewable energy regulation in France and Spain, also based on text analysis. Spain shows a higher and more disaggregated volume of regulation. |
| Keywords: | energy efficiency, renewable energies, sustainable transport, pollution, regulation, regulatory complexity, text mining |
| JEL: | K32 Q5 O13 O44 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2336&r=eur |
| By: | Halkos, George; Aslanidis, Panagiotis-Stavros |
| Abstract: | The current waste crisis calls for a stable and integrated institutional framework. Policymakers try to untangle the complicated and interconnected acts, regulations, and directives in the European Union (EU). However, it is not a plain sailing to observe and implement the vast regulatory armamentarium of the EU in the circular economy (CE) sectors to achieve sustainable waste management (SWM). Aim of the present study is to showcase the historic – international and European – institutional framework on waste management as well as the main hazardous and special waste streamsin order to build an integrated SWM framework. Moreover, CE necessitates for the safeguarding of critical raw materials (CRMs) and energy, in order to blueprint policies for the Net-Zero Age. Hence, the present study would show how CE can establish SWM, even though CE is going to face complex challenges till the conclusion of Agendas 2030 and 2050. |
| Keywords: | EU;sustainablewaste management; sustainabledevelopment; Agenda 2030; Agenda 2050 |
| JEL: | Q01 Q50 Q53 Q58 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119774&r=eur |
| By: | Tamas Berki (Magyar Nemzeti Bank (the Central Bank of Hungary)) |
| Abstract: | In this paper, we investigate the information and communication technology (ICT) usage patterns of Hungarian companies, relying on a company-level questionnaire survey conducted in 2020, and combining it with data from corporate annual reports. Our main objective is to construct an index of ICT usage patterns in the Hungarian business sector that reflects the digitisation level (ICT usage intensity) of companies and amalgamates into a single indicator the questionnaire survey information relevant to ICT usage. After aggregating (scoring) the qualitative questionnaire data, we used factor analysis to identify four distinct areas that are associated with the digitisation levels of the different business functions. These are the following: area responsible for integrating business functions, e-administration, IT infrastructure, and marketing and communications. The digitisation headline index is derived from the subindices of these four areas. Our paper also aims to map the patterns of ICT use by company size, sector, productivity and export activity. The intensity of ICT use is closely correlated with company size, export activity and productivity. Companies with more employees or higher productivity tend to be more intensive users of technologies. Firms that also export tend to use ICT more extensively than non-exporting ones. Technology use varies markedly from sector to sector, both in terms of the range of technologies used and their sophistication. |
| Keywords: | use of information and communication technologies, enterprise microdata, questionnaire survey, composite index, factor analysis. |
| JEL: | C43 C81 L25 O30 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:mnb:opaper:2024/149&r=eur |
| By: | Gabriel Felbermayr (WIFO); Klaus Friesenbichler; Markus Gerschberger; Peter Klimek; Birgit Meyer (Austrian Institute of Economic Research) |
| Abstract: | The EU Directive on Corporate Sustainable Due Diligence has sparked fierce debate about the regulations of supply chains. The Directive's objectives are aligned with European values. Assuming that enforcements of social and environmental rules are absent in certain third countries, it privatises compliance costs in complex supply networks. This paper suggests options to make the Directive more effective and efficient. It should exclude countries with a sufficient regulatory system and focus not on the entire network but on supplier-buyer relationships only. Public agencies should set harmonised regulatory standards, interpret the regulations and organise a private certification scheme in which liabilities are assumed by certification companies. The proposed system resembles the market for financial auditors. |
| Keywords: | EU, Supply Chain, Due Dilligence, Regulation, Firm, International Trade |
| Date: | 2024–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:wfo:wpaper:y:2024:i:669&r=eur |
| By: | Valērijs Dombrovskis (Faculty of Business and Economics, RISEBA University of Applied Science, Latvia Author-2-Name: Nellija Titova Author-2-Workplace-Name: PhD oec. cand., Vice-Rector for Development, RISEBA University of Applied Sciences, Riga, Latvia. Author-3-Name: Jeļena Ļevina Author-3-Workplace-Name: Dr. psych., leading researcher, European Social Fund Project No. 9.1.3.0/16/I/001 "Raising the Efficiency of Resocialization System, " Riga, Latvia. Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | "Objective - This study delved into the intricate dynamics between individuals' psychological well-being and their roles within the corporate realm. Methodology/Technique - By scrutinizing the potential impact of personality types on adopting sustainable corporate strategies, the research identified six distinct personality types grounded in autonomy and self-control factors. Employing the Ryff scales of psychological well-being, the study engaged 1, 110 residents of Latvia, unearthing valuable insights into the interplay between individual well-being and the successful implementation of sustainable corporate strategies. Finding - These findings contribute a unique perspective to existing literature, deepening our comprehension of how diverse personality types influence and respond to sustainability initiatives. Novelty - The research, thus, guides the formulation of more effective strategies and fosters a corporate culture that embraces sustainability as a fundamental value. Type of Paper - Empirical" |
| Keywords: | Typology, Personality types, Autonomy, Self-control, Sustainable corporate strategies. |
| JEL: | M14 I12 Q56 D23 O15 |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:gjbssr639&r=eur |
| By: | Eva Hromadkova; Ivana Kubicova; Branislav Saxa |
| Abstract: | We examine interest rate pass-through in the Czech Republic over the period of 2004-2022. We investigate the speed and completeness of the transmission of changes in reference market interest rates to lending rates on loans to non-financial companies and housing loans. The use of a rolling window approach enables us to examine changes in the pass-through over time. In the case of housing loans, the transmission of the 5-year interest rate swap rate to client rates is strong in the long term, although currently it is not complete. A 1 percentage point increase in the unemployment rate implies an approximately 0.2 percentage point increase in the risk premium for the interest rate on loans for house purchase. Our estimates for loans to non-financial companies confirm that changes in the 3M PRIBOR are passed on almost completely with minimal delay. A 1 percentage point reduction in the output gap implies an approximately 0.1 percentage point increase in the risk premium for the client interest rate on corporate loans. |
| Keywords: | ARDL model, credit premium, interest rate pass-through, rolling windows |
| JEL: | C2 E43 E52 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:cnb:rpnrpn:2023/02&r=eur |
| By: | Perona, Mathieu |
| Abstract: | En décembre 2023, les principaux indicateurs de bien-être subjectif en France sont à des niveaux proches de leur moyenne depuis 2016. Au-delà de la baisse saisonnière du bien-être émotionnel, la satisfaction dans la vie, le sentiment de sens et l’évaluation du niveau de vie restent stables, tandis que les craintes quant aux difficultés financières reculent. Cependant, les perspectives d’avenir continuent de se dégrader, en particulier en ce qui concerne la prochaine génération en France, et le sentiment de sécurité recule à nouveau. |
| Keywords: | France, Well-Being, Conjoncture, Bien-être |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:cpm:notobe:2401&r=eur |
| By: | Jaromir Baxa (Institute of Economic Studies of the Faculty of Social Sciences, Charles University, Prague, Czech Republic & The Czech Academy of Sciences, Institute of Information Theory and Automation, Prague, Czech Republic); Tomas Sestorad (Institute of Economic Studies of the Faculty of Social Sciences, Charles University, Prague, Czech Republic & The Czech Academy of Sciences, Institute of Information Theory and Automation, Prague, Czech Republic & The Czech National Bank, Prague, Czech Republic) |
| Abstract: | Several alternative news-based Economic Policy Uncertainty indices have been developer for Spain and a few other European countries. These alternative indices differ in the selection of keywords, newspaper coverage, and a scaling factor that is used to calculate the EPU index from the raw news data. Using the generalized forecast error variance decompositions of the time-varying parameter VAR model and the analysis of dynamic connectedness, we show that the restriction to include only domestic news affects estimated spillovers substantially, leading to different qualitative and quantitative assessments of uncertainty spillovers in Europe. Therefore, not all EPU indices are the same. |
| Keywords: | Uncertainty, Forecast error variance decomposition, Spillovers |
| JEL: | C32 F42 F45 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2024_03&r=eur |
| By: | Malin, Lydia; Schumacher, Simon |
| Abstract: | Der Fachkräftemangel stellt auch pharmazeutische Unternehmen in Deutschland vor große Herausforderungen und wird dies vor dem Hintergrund des demografischen Wandels perspektivisch immer stärker tun. Mit Blick auf die Positionierung Deutschlands im internationalen Wettbewerb innovativer Pharmastandorte kann dies zu einem Hemmschuh werden. Entlang der gesamten pharmazeutischen Wertschöpfungskette schlagen die Fachkräfteengpässe stark durch. So verschärfen sich nicht nur die Stellenbesetzungsschwierigkeiten in pharmarelevanten IT-Berufen, die bundesweit kaum mehr am Arbeitsmarkt zur Verfügung stehen und in allen Branchen benötigt werden, um den digitalen Wandel voranzutreiben. Es fällt den Unternehmen auch zunehmend schwerer, passende Arbeitskräfte in pharmarelevanten Berufen in den Bereichen "Produktion" und "Vertrieb" zu finden. Hier stehen die Pharmaunternehmen im Wettbewerb mit Unternehmen anderer Branchen um verfügbare Fachkräfte. Die regional konzentrierte Pharmaindustrie ist in den betrachteten Clusterregionen unterschiedlich intensiv von Stellenbesetzungsschwierigkeiten betroffen. Dabei variieren die betroffenen Berufsbilder in den Regionen entsprechend der wirtschaftlichen Schwerpunktsetzung der Unternehmen. So sind beispielsweise im Cluster "Oberbayern" sogar die sogenannten pharmazeutischen Kernberufe, denen eine branchenspezifische Qualifizierung vorausgeht, und in denen Arbeitnehmer überdurchschnittlich häufig in der Pharmaindustrie angestellt sind, mittlerweile stärker von Engpässen betroffen. Ob dies aber im Zusammenhang mit der regionalen Spezialisierung der Unternehmen oder in der allgemein überproportional angespannten Arbeitsmarktsituation der Region begründet liegt, kann im Rahmen der quantitativen Betrachtung nicht abschließend beantwortet werden. Deutlich wird, dass dringend sowohl politische Rahmenbedingungen zu setzen sind, um den Fachkräftebedarf der Zukunft zu sichern, als auch Unternehmen im stärker werdenden Wettbewerb um die verfügbaren Fachkräfte kurz- bis mittelfristig die richtigen Anreize für die Fachkräftesicherung finden müssen. |
| Abstract: | The shortage of skilled workers poses significant challenges for pharmaceutical companies in Germany and is expected to become increasingly problematic in the context of demographic changes. Concerning Germany's positioning in the international competition among innovative pharmaceutical locations, this shortage could become a hindrance. Among all Occupations throughout the entire pharmaceutical value chain, shortages of skilled workers are getting significantly stronger. Not only are difficulties in filling positions intensifying in IT professions relevant to the pharmaceutical industry, which are required by pharmaceutical companies as well as other industries to drive digital transformation and are scarcely available nationwide in the job market. Companies are also finding it increasingly challenging to find suitable personnel in pharmaceutical-related occupations within 'production' and 'sales'. Here, the shortages are primarily driven by occupations where pharmaceutical companies compete with other industries for available skilled workers. The regionally concentrated pharmaceutical industry is differently affected by more severe staffing difficulties across all considered cluster regions. The affected job profiles in these regions vary also according to the economic focus of the companies. Among other factors, specific pharmaceutical core professions, which require industry-specific qualifications and in which employees are employed more frequently in the pharmaceutical industry, are now more affected by shortages. However, whether this is related to the regional specialization of companies or the generally strained labor market situation in the region cannot be conclusively answered within the scope of the quantitative analysis. Urgent action is required to establish both political frameworks to secure the future demand for skilled workers and incentives for companies, in the increasingly competitive environment for available skilled workers, to find the right measures for securing skilled workers in the short to medium term. |
| JEL: | J21 J24 J29 J44 L60 L65 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkrep:280970&r=eur |
| By: | Hansen, Gerrit |
| Abstract: | The upcoming United Nations Climate Change Conference in Dubai (COP28) will see a new round of battle regarding the call to phase out fossil fuels. Intense debates have taken place in Germany and the European Union (EU) to determine positions in the run-up to the conference. The main point of contention is whether to call for a complete global phase-out of all fossil fuels or only for a phase-down of their unabated use, that is, without additional abatement measures such as carbon capture and storage (CCS). The role of abated fossil fuels in a net-zero economy is very controversial. In the long run, it will depend on several factors, including the effective deployment and scale-up of CCS, the capture rates achieved therein and the availability of carbon dioxide removal (CDR) technologies to address residual emissions. CCS is unlikely to make a significant contribution to urgently needed greenhouse gas reductions in the power sector by 2030. Whether the decision in Dubai will deliver a credible signal to rapidly reduce fossil fuel emissions depends in no small part on a precise, science-based definition of the scale of emission reductions required for fossil fuels to be considered as abated in line with the temperature goal of the Paris Agreement. |
| Keywords: | United Nations Climate Change Conference in Dubai 2023 (COP28), Intergovernmental Panel on Climate Change (IPCC), global CO2 emissions, net zero, climate crisis, European Union (EU), Carbon Capture and Storage (CCS), Carbon Dioxide Removal (CDR), UNFCCC, coal, oil, gas, Global Stocktake (GST) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpcom:281027&r=eur |
| By: | Pollitt, M G. |
| Abstract: | This paper examines the 2021-2023 energy crisis in Europe exacerbated by the energy consequences of the full-scale Russia – Ukraine war which began in February 2022. We show that this is an historically unprecedented price shock to both gas and electricity prices. We then draw on lessons from UK energy policy in World War Two to inform European energy policy during this crisis. In light of this, we examine actual policy responses by the European Union (EU). The EU has responsibility for the European single market in electricity and gas (which also formally includes Norway and effectively includes the UK) and has attempted to co-ordinate EU-27 responses to the crisis. We highlight four good and three bad policy responses observed across Europe. We conclude with longer-run lessons for energy and climate policy arising from this gas and electricity price shock. |
| Keywords: | energy crisis, single market in energy, wartime |
| JEL: | L94 L95 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2350&r=eur |
| By: | Conor McCaffrey; Niclas Poitiers |
| Abstract: | Efforts to address skilled-labour shortages in the battery sector can provide lessons to other areas of EU industrial policy. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:bre:wpaper:node_9676&r=eur |
| By: | Gerardo Sabater-Grande (LEE and Department of Economics, Universitat Jaume I, Castellón, Spain); Noemí Herranz-Zarzoso (Department of Economic Analysis, Universitat de València, Spain); Aurora García-Gallego (LEE & Economics Department, Universitat Jaume I, Castellón-Spain) |
| Abstract: | We analyze the effectiveness of monetary incentives and/or feedback in order to improve students’ calibration of academic performance. A randomized field experiment is implemented in which undergraduate students enrolled in a Microeconomics course are offered the possibility to judge their academic performance immediately before (prediction) and after (postdiction) completing each of the three exam-multiple choice tests of their continuous evaluation. Potential (actual) miscalibration in each test is calculated as the difference between the predicted (post-dicted) grade and the actual grade. The treatment variables are monetary incentives and individual feedback since they may potentially affect students’ judgment accuracy. Different treatments allow for the analysis of the effect of one of the variables alone or the joint effect of introducing the two variables. The main result is that potential and actual miscalibration are independent of the treatment variables. Our data analysis controls for confounding factors like students’ cognitive ability, academic record, risk attitudes and personality traits. Our data reflect that students’ potential miscalibration is significantly reduced in subsequent tests to the first, only in the treatment where individual feedback as well as monetary incentives are provided. |
| Keywords: | calibration of academic performance, monetary incentives, feedback, prediction, post-diction |
| JEL: | C93 D03 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:jau:wpaper:2024/01&r=eur |
| By: | Albert Cohen; Jimmy Risk |
| Abstract: | This paper presents a new framework for player valuation in European football by fusing principles from financial mathematics and network theory. The valuation model leverages a "passing matrix" to encapsulate player interactions on the field, utilizing centrality measures to quantify individual influence. Unlike traditional approaches, this model is both metric-driven and cohort-free, providing a dynamic and individualized framework for ascertaining a player's fair market value. The methodology is empirically validated through a case study in European football, employing real-world match and financial data. The paper advances the disciplines of sports analytics and financial mathematics by offering a cross-disciplinary mechanism for player valuation, and also links together two well-known econometric methods in marginal revenue product and expected present valuation. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2312.16179&r=eur |
| By: | Bustamante, Maria Cecilia; Zucchi, Francesca |
| Abstract: | The control of carbon emissions by policymakers poses the corporate challenge of developing an optimal carbon management policy. We provide a unified model that characterizes how firms should optimally manage emissions through production, green investment, and the trading of carbon credits. We show that carbon pricing reduces firms’ emissions but also induces firms to tilt towards more immediate yet transient types of green investment—such as abatement as opposed to innovation—as it becomes costlier to comply. Green innovation subsidies mitigate this effect and complement carbon pricing in ensuring innovation-driven sustainability. Perhaps surprisingly, we show that carbon regulation need not reduce firm value. JEL Classification: G30, G31, G12, D62, O33 |
| Keywords: | carbon abatement, carbon emissions, Carbon pricing, green innovation, sustainability |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20242885&r=eur |
| By: | International Monetary Fund |
| Abstract: | Selected Issues |
| Date: | 2023–12–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/387&r=eur |
| By: | Frédéric Marty (Université Côte d'Azur, France; GREDEG CNRS) |
| Abstract: | La valorisation des droits audiovisuels des compétitions sportives est une variable clé de l'équilibre économique des clubs professionnels, notamment du football français. La capacité à dégager un prix satisfaisant des procédures de mise en concurrence pour l'attribution des droits va dépendre de l'intensité de la concurrence pour le marché et de la qualité intrinsèque de ces derniers pour les diffuseurs. Selon que les droits apparaîtront comme des ressources 'essentielles' (en d'autres termes incontournables pour les diffuseurs), premia ou aisément substituables avec d'autres contenus le résultat de l'enchère sera très différent. Il s'agit ici de s'interroger sur une éventuelle érosion de la valeur des droits sur la Ligue 1 française qui procèderait d'une concurrence croissante d'autres sports ou d'autres compétitions footballistiques et sur les conséquences qu'elle pourrait avoir sur la viabilité économique des clubs professionnels. |
| Keywords: | droits audiovisuels, économie du football, contenus premia |
| JEL: | L13 L83 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2024-02&r=eur |
| By: | William A. Allen (National Institute of Economic and Social Research) |
| Abstract: | The history of ‘money doctors’ despatched to give financial advice to countries thought to be in need of it has mainly concentrated on American advisers (e.g. Flandreau 2003). This paper gives an account of a British mission to Poland in 1923 – 1924, a period which coincided with the ending of Poland’s hyper-inflation. It describes how the mission contributed to Poland’s monetary stabilisation in 1924, and explores the tensions that arose about the scope and functions of the mission, and of foreign advisers more generally, both between the mission and the Polish authorities, and within the mission. |
| Keywords: | Poland, money doctors, inflation, Hilton Young, Grabski, monetary reform |
| JEL: | N14 N24 N44 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:nbp:nbpmis:366&r=eur |
| By: | Lidia Smitkova |
| Abstract: | In this paper, I study financial liberalization between economies with differing aggregate profit shares. I show that if firms compete oligopolistically, then economies which generate more very large — ‘superstar’ — firms enjoy higher aggregate profit shares. Embedding this setup in a two-country model with heterogeneous agents and non-homothetic saving behavior, I show that more profitable economies feature lower autarkic interest rate and experience capital outflows during financial liberalization. Calibrating the model to eight European economies, I show that the profit share gap can explain 29% of variation in the current account imbalances incurred between 1998 and 2019. |
| Date: | 2023–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:1030&r=eur |
| By: | Balafoutas (University of Exeter, United Kingdom, University of Innsbruck, Austria); Helena Fornwagner (University of Exeter, Austrian Institute of Economic Research (WIFO)); Rudolf Kerschbamer (University of Innsbruck, Austria); Matthias Sutter (Max Planck Institute for Research on Collective Goods, IZA Bonn, CESifo Munich, University of Cologne); Maryna Tverdostup (Vienna Institute for International Economic Studies, Austria) |
| Abstract: | Credence goods markets are prone to fraudulent behavior and market inefficiencies due to informational asymmetries between sellers and customers. We examine experimentally the effects of diagnostic uncertainty and insurance coverage on the information acquisition and provision decisions by sellers and the trading decisions by consumers. Our results reveal that diagnostic uncertainty is a major source of inefficiency by decreasing efficient service provision. Insurance coverage has a positive net effect on market efficiency, despite making information acquisition and efficient service provision less likely. We also examine the role of -s and of sellers’ prosociality in shaping service provision and information acquisition. |
| Keywords: | Credence goods, diagnostic uncertainty, insurance coverage, experiment |
| JEL: | C91 D82 G22 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:mpg:wpaper:2023_11&r=eur |
| By: | Alexandre Mathieu (SOURCE - SOUtenabilité et RésilienCE - UVSQ - Université de Versailles Saint-Quentin-en-Yvelines - IRD [France-Nord] - Institut de Recherche pour le Développement) |
| Abstract: | The realm of green jobs presents a fertile ground for understanding the intersecting pathways between sustainable transition and the labor market. We have crafted a bibliometric dataset centered on this concept, amassing 414 articles from the Scopus and Web of Science databases, following a laid down protocol, PRISMA, spanning the period from 1995 to 2022. This endeavor aims to depict the dynamics, themes, and conceptual approaches shaping the discourse on green jobs. The dataset, structured around 13 descriptive variables such as authors, keywords, and cited references, is made available to researchers, institutions, and decision-makers to provide insight into the academic debates on ecological transition through the lens of employment, especially in the wake of a green economy. The potential for reutilizing these data is expansive. They can serve as a foundation for comparative analyses with the media and institutional portrayals of green jobs. Furthermore, the dataset can be enriched by integrating other forms of literature, such as books, chapters, or conference proceedings, while retaining the existing structure. This expansibility paves the way for a multidisciplinary and multilingual exploration, thereby enhancing the richness and diversity of possible analyses. |
| Abstract: | Le domaine des emplois verts représente un terrain fertile pour comprendre les chemins croisés entre la transition soutenable et le marché du travail. Nous avons élaboré un ensemble de données bibliométriques centré sur ce concept, accumulant 414 articles des bases de données Scopus et Web of Science, suivant un protocole établi, PRISMA, couvrant la période de 1995 à 2022. Cette entreprise vise à dépeindre la dynamique, les thèmes et les approches conceptuelles qui façonnent le discours sur les emplois verts. L'ensemble de données, structuré autour de 13 variables descriptives telles que les auteurs, les mots-clés et les références citées, est mis à disposition des chercheurs, des institutions et des décideurs pour fournir un aperçu des débats académiques sur la transition écologique à travers le prisme de l'emploi, notamment dans le sillage d'une économie verte. Le potentiel de réutilisation de ces données est vaste. Elles peuvent servir de base pour des analyses comparatives avec les représentations médiatiques et institutionnelles des emplois verts. De plus, l'ensemble de données peut être enrichi en intégrant d'autres formes de littérature, telles que des livres, des chapitres ou des actes de conférence, tout en conservant la structure existante. Cette expansibilité ouvre la voie à une exploration multidisciplinaire et multilingue, améliorant ainsi la richesse et la diversité des analyses possibles. |
| Keywords: | Bibliometrics, Green Job, Green collar job, Green work, Green employment, Green economy, Sustainable development, Bibliometrics Green Job Green collar job Green work Green employment Green economy Sustainable development, Bibliométrie, Emploi vert, Travail vert, Travail soutenable, Économie verte, Développement soutenable |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04338772&r=eur |
| By: | Matthias Firgo; Fabian Gabelberger (Austrian Institute of Economic Research); Andreas Reinstaller; Yvonne Wolfmayr |
| Abstract: | Recent shocks to global value chains and geopolitical tensions have reignited the debate on domestic production of strategic goods and technologies. This paper proposes an analytical framework for identifying and prioritising activities and regions for potential reshoring policies combining methods from international, industrial and regional economics. Particularly, we assess import dependencies, potentials and risks for competitive domestic production, and evaluate the embeddedness of existing and potential production in cognitively and technologically related activities in a region. We highlight the relevance of this approach as a policy tool using industries manufacturing strategic products and regions in Austria as an example. |
| Keywords: | Strategic products, reshoring, industrial policy, comparative advantage, import dependency, skill-relatedness |
| Date: | 2024–01–16 |
| URL: | http://d.repec.org/n?u=RePEc:wfo:wpaper:y:2024:i:670&r=eur |
| By: | Josef Sveda; Jiri Panos; Vojtech Siuda |
| Abstract: | We propose an improved methodology for modelling potential scenario paths of banks' risk-weighted assets, which drive the denominator of capital adequacy ratios. Our approach centres on modelling the internal risk structure of bank portfolios and thus aims to provide more accurate estimations than the common portfolio level approaches used in top-down stress testing frameworks. This should reduce the likelihood of significant misestimation of risk-weighted assets, which can lead to unjustifiably high or low solvency measures and induce false perceptions about banks' financial health. The proposed methodology is easy to replicate and suitable for various applications, including stress testing and calibration of macroprudential tools. After the methodology is introduced, we show how our proposed approach compares favourably to the methods typically used. Subsequently, we use our approach to estimate the potential increase in risk weights due to a cyclical deterioration in credit parameters and the corresponding setup of the countercyclical capital buffer for the Czech banking sector. Finally, an illustrative, hands-on example is provided in the Appendix. |
| Keywords: | Countercyclical capital buffer, credit portfolio structure, risk weighted exposure, stress-testing |
| JEL: | E58 G21 G28 G29 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:cnb:wpaper:2023/15&r=eur |
| By: | Uchida, Yuki; Ono, Tetsuo |
| Abstract: | This study examines the golden rule of public finance, distinguishing between public investment and consumption spending when borrowing, allowing for exclusively debt-financed public investment. Explored within an overlapping-generations model that encompasses the accumulation of physical and public capital, the rule and its associated fiscal policy emerge internally, selected by short-lived governments that represent current generations. The model is calibrated for Germany, Japan, and the United Kingdom, demonstrating adherence to the rule in Germany and deviation from it in Japan and the United Kingdom, which aligns with the available evidence. The evaluation from the perspective of a long-term planner reveals the government’s excessive choices in public debt across these countries. |
| Keywords: | Fiscal Rule; Golden Rule of Public Finance; Probabilistic Voting; Overlapping Generations; Political Distortions |
| JEL: | D70 E62 H63 |
| Date: | 2023–12–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119724&r=eur |
| By: | MARINESCU, Gabriela |
| Abstract: | The work aims to highlight the changes that modern technologies can bring to the labor market in the future. Studies and research demonstrate the benefits and threats that Artificial Intelligence will cause on the labor market, in general, on the Romanian one, in particular. Questions such as: What is the strategy that will reduce job losses? How and where will new jobs be created? What do we do when the number of lost jobs exceeds the number of new ones, and the market presents high unemployment and few qualified human resources? Where education goes headed for the training of specialists in new fields? ; bring into view big issues that cannot be ignored. The research succinctly answers these, showing that the labor market will have a very different picture from today, with nuances from one country to another. The first conclusion that emerges from the study is that the new structure of services and activities of the future requires high-level skills and competencies, which are difficult to acquire quickly and without important individual and collective efforts. A second emphasizes that we need adequate education for the changes that Artificial Intelligence will cause. In Romania, the process of innovation and creativity is continuously decreasing. Society is increasingly unprofessional, and people with skills are hard to find. This development should raise public concern, as the challenges posed by technologies already seem insurmountable due to poor governance, aging populations, and job structures. |
| Keywords: | labor market, new technologies, artificial intelligence. |
| JEL: | J23 |
| Date: | 2023–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119675&r=eur |
| By: | Busch, Berthold; Sultan, Samina |
| Abstract: | Nach der Empfehlung der Europäischen Kommission, Beitrittsverhandlungen mit der Ukraine aufzunehmen, wird der Europäische Rat darüber auf seinem Gipfel im Dezember entscheiden. Dies ist ein historischer Schritt, der, besonders vor dem Hintergrund des andauernden russischen Angriffskriegs, eine große geostrategische Bedeutung hat. Sollte die Ukraine in den nächsten Jahren der Europäischen Union (EU) beitreten, wird dies eine Vielzahl an Folgen haben. Nicht zuletzt wird sich ein solcher Beitritt auf den EU-Haushalt auswirken. Als bevölkerungsreiches, wenig wohlhabendes und landwirtschaftlich geprägtes Land ist abzusehen, dass der Ukraine umfangreiche Finanzmittel aus dem EU-Haushalt zustehen würden. Trotz der großen Unsicherheiten, die derzeit noch bezüglich eines Beitritts der Ukraine bestehen, etwa hinsichtlich der genauen formalen Ausgestaltung oder der zeitlichen Dimension, ist eine quantitative Abschätzung der Kosten wichtig für die weitere Debatte. In einer Abschätzung beziffert dieser Report die finanziellen Folgen einer Vollmitgliedschaft der Ukraine auf den derzeitigen Mehrjährigen Finanzrahmen (MFR) 2021 bis 2027 mit rund 130 bis 190 Milliarden Euro, je nachdem welche Annahmen über die Ackerlandfläche und die Bevölkerungszahl für die Ukraine getroffen werden. Davon würden demnach zwischen 70 und 90 Milliarden Euro auf Agrarsubventionen entfallen, auf die Kohäsionspolitik zwischen 50 bis 90 Milliarden Euro. Angesichts dieses Volumens müsste die EU bereit sein, sich zu reformieren. Nur so kann die politische Entscheidung, vor allem die Ukraine mit einer Beitrittsperspektive enger an sich zu binden, glaubwürdig sein. Dies gilt zum einen auf der institutionellen Ebene, aber es gilt auch auf fiskalischer Ebene. Eine Umschichtung im EU-Haushalt könnte bei der Bereitstellung der notwendigen Finanzmittel helfen. Ein möglicher Ansatzpunkt dafür wäre die Kohäsionspolitik. Da ein primäres Ziel der europäischen Kohäsionspolitik darin liegt, weniger entwickelte Regionen zu unterstützen, wäre hier eine Umschichtung bei einer Erweiterung um die Ukraine folgerichtig. Bei einer Umstellung der europäischen Kohäsionspolitik auf ein Konzentrationsmodell, bei der die Kohäsionsausgaben auf die ärmeren Mitgliedstaaten beschränkt sind, würden Finanzmittel in Höhe von rund 140 Milliarden Euro über den Siebenjahreszeitraum des aktuellen MFR zur Verfügung stehen. Somit würde eine Umschichtung bei der Kohäsionspolitik einen erheblichen Beitrag zur Deckung der Kosten eines EU-Beitritts der Ukraine leisten können. Bei aller berechtigten Kritik einer Konzentration der europäischen Kohäsionsmittel, gilt es, dieses Potenzial, etwa bei der Aufstellung des nächsten MFR 2028 bis 2034, in dessen Zeitraum eine Erweiterung der EU fallen könnte, zu beachten. |
| Abstract: | Following the European Commission's recommendation to open accession negotiations with Ukraine, the European Council will decide on this at its summit in December. This is a historic step that is of great geostrategic importance, particularly in light of the ongoing Russian war of aggression. If Ukraine joins the European Union (EU) in the next few years, this will have several consequences. Not least, such an accession will have an impact on the EU budget. As a highly populated, less prosperous and agriculturally dominated country, it is foreseeable that Ukraine would be entitled to extensive financial resources from the EU budget. Despite the great uncertainties that still exist regarding Ukraine's accession, for example regarding the exact formal structure or the time frame, a quantitative estimate of the costs is important for the further debate. In an estimate, this report puts the financial consequences of Ukraine's full membership on the current Multiannual Financial Framework (MFF) 2021 to 2027 at between around 130 and 190 billion euros, depending on the assumptions made about Ukraine's arable land area and population. Of this, between around 70 and 90 billion euros would be allocated to agricultural subsidies. Cohesion policy would account for between 50 and 90 billion euros. In view of this volume, the EU must be prepared to reform itself. Only then can the political decision to bind Ukraine in particular more closely to the EU with the prospect of accession be credible. This applies not only to the institutional level, but it also applies to the fiscal level. The necessary financial resources could be made available through a reallocation in the EU budget, for example. One possible starting point for this would be the cohesion policy. As one of the primary objectives of the European cohesion policy is to support less developed regions, a reallocation in this field would be logical in case Ukraine joins the EU. If European cohesion policy were to switch to a concentration model, in which cohesion spending is limited to the poorer member states, it is estimated that financial resources of around 140 billion euros would be available over the sevenyear period of the MFF. A reallocation of cohesion policy would therefore be able to make a significant contribution to covering the costs of Ukraine's EU accession. Despite all justified criticism of a concentration of European cohesion funds, this potential must be taken into account, for example when drawing up the next MFF from 2028 to 2034, during which time an enlargement of the EU could take place. |
| Keywords: | EU-Mitgliedschaft, Ukraine, Wirkungsanalyse, EU-Haushalt, EU-Finanzbeziehungen, EU-Strukturfonds, EU-Staaten |
| JEL: | H50 H61 O52 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwkrep:280922&r=eur |
| By: | Loukas Balafoutas (University of Exeter, United Kingdom, University of Innsbruck, Austria); Helena Fornwagner (University of Exeter, Austrian Institute of Economic Research (WIFO)); Rudolf Kerschbamer (University of Innsbruck, Austria); Matthias Sutter (Max Planck Institute for Research on Collective Goods, IZA Bonn, CESifo Munich, University of Cologne); Maryna Tverdostup (Vienna Institute for International Economic Studies, Austria) |
| Abstract: | In markets for credence goods – such as health care or repair services – fraudulent behavior by better informed experts is a common problem. Our model studies how four common features shape experts’ provision behavior in credence goods markets: (i) diagnostic uncertainty of experts; (ii) insurance coverage of consumers; (iii) malpractice payments for treatment failure; and (vi) consumer-regarding preferences of experts. Diagnostic imprecision unambiguously leads to less efficient provision. Insurance coverage and malpractice payments have an ambiguous effect on efficient provision. The impact of consumer-regarding preferences on efficiency is positive without insurance but ambiguous in the presence of insurance. |
| Keywords: | Credence goods, diagnostic uncertainty, insurance coverage, social preferences |
| JEL: | D82 G22 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:mpg:wpaper:2023_12&r=eur |
| By: | Arturs Kokars (Ventspils University, Inzenieru St. 101A, LV3601, Ventspils, Latvia. Author-2-Name: Hilkevics Sergejs Author-2-Workplace-Name: Ventspils University, Inzenieru St. 101A, LV3601, Ventspils, Latvia. Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - The current paper investigates the role of creating public and private goods through aviation to determine state policy priorities and analyse the aviation industry's impact on the national economy in Latvia. Methodology - The current paper involves a multi-factorial approach, combining legal, economic, and social impact assessment elements. The quantitative analysis applies an input-output model to assess the aviation industry's direct, indirect, inducted, and catalytic effects. Findings - The assessment of multi-factorial indicators assumes paramount importance in ascertaining the contribution of the Latvian aviation sector to the nation's gross domestic product (GDP). Despite its immersion within an intensely competitive market environment, the aviation sector continues to witness substantial government interventions on a global scale. Thus, it becomes imperative to delineate the considerations that delineate public goods, ensuring their alignment with the tenets of equitable competition. Novelty - Compared to previous studies, the input-output analysis in the aviation industry is extended to evaluate the public and private goods created by the aviation industry to determine favourable state aid policies. Type of Paper - Empirical" |
| Keywords: | Aviation, Input-Output Model, State Aid, State Policy, Public Goods. |
| JEL: | D71 H11 |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jber240&r=eur |