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Carbon pricing policies worldwide are increasingly coupled with direct or indirect subsidies where emissions pricing revenues are rebated to the regulated entities. This paper analyzes the incentives created by two novel forms of rebating that reward additional emission intensity reductions: one...
Persistent link: https://www.econbiz.de/10013203035
Climate change ranks high on the policy agenda of the European Union (EU) which considers itself as a leading force in … the battle against anthropogenic climate change. The EU is committed to the objective of limiting the rise in global … climate system. This article provides a critical appraisal of two decades of EU climate policy. Based on the global nature of …
Persistent link: https://www.econbiz.de/10013062011
New York is considering additional emission regulation on top of its obligations under the Regional Greenhouse Gas Initiative (RGGI) to achieve its State Energy Plan targets. The proposed measure is a so-called "carbon adder" on CO2 emissions from the power sector which is set as the difference...
Persistent link: https://www.econbiz.de/10012098228
Persistent link: https://www.econbiz.de/10002110260
This brief assesses the experiences of Europe's policy regime in the two years since the introduction of the euro in 1999, particularly the performance of the European Central Bank (ECB), the institution in charge of conducting monetary policy for the euro area. Conventional accounts of European...
Persistent link: https://www.econbiz.de/10003353731
Die Studie stellt die verbreitete These, die seit 2001 trotz konjunktureller Schwäche anhaltend hohe Inflationsrate im Euroraum sei die Folge struktureller Rigiditäten, in Frage. Anhänger dieser These sehen in Strukturreformen, die diese Rigiditäten beseitigen, die wichtigste Voraussetzung...
Persistent link: https://www.econbiz.de/10003851509
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10003888991
Three computable general equilibrium models are used to estimate the economic implications of a stylized version of EU …, however, that the distortions introduced by total EU package imply a substantial welfare loss over and above the costs needed …
Persistent link: https://www.econbiz.de/10003898714
"This paper deals with potential instabilities in the Eurozone stemming from an insufficient interplay between monetary policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we assess the effect of EMU on structural reform and...
Persistent link: https://www.econbiz.de/10003429626
Persistent link: https://www.econbiz.de/10008668358