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We study the potential effects on the real economy and welfare of four fiscal policy responses to an energy supply shock: energy vouchers to all households, only to lowincome households, or to non-energy goods producers, and subsidies for investments in the energy sector. The analysis relies on...
Persistent link: https://www.econbiz.de/10015179622
Persistent link: https://www.econbiz.de/10012507379
To help German households and firms with exploding energy costs, the German government is about to implement a new transfer scheme called "gas price brake." A unique feature of this energy price relief measure is that both households and the industry receive a transfer that increases in one's...
Persistent link: https://www.econbiz.de/10013473667
The planet's resources are finite and must be used rationally and responsibly to ensure a sustainable economy. On the basis of modern innovations and technologies, new sources of consumption or new ways to reduce the environmental impact of consumption can be found. Changes in the external...
Persistent link: https://www.econbiz.de/10014464296
Policies to address climate change and the energy transition are increasingly gaining ground. However, a large body of research has mainly focused on the efficiency aspect of different instruments rather than their unintended side-effects. Only recently, both policymakers as well as researchers...
Persistent link: https://www.econbiz.de/10015075048
To our knowledge, this paper is the first to discuss the response of European energy commodity prices to unexpected monetary policy surprises from the European Central Bank. Using the Rigobon (2003) identification through heteroscedasticity method, we find a significant and positive response...
Persistent link: https://www.econbiz.de/10014115109
In Germany, substantial drops in wholesale power prices have become a regular phenomenon. While such price drops have far-reaching implications for the functioning of the power market, their underlying determinants remain poorly understood. To fill this gap, we propose a Markov regime-switching...
Persistent link: https://www.econbiz.de/10014124138
In Germany, substantial drops in wholesale power prices have become a regular phenomenon. While such price drops have far-reaching implications for the functioning of the power market, their underlying determinants remain poorly understood. To fill this gap, we propose a Markov regime-switching...
Persistent link: https://www.econbiz.de/10012969041
Taking a 2035 horizon, we examine how world energy consumption and emission patterns will be shaped by the changing demand and technological capabilities of different regions. We combine a convergence model fitting three production factors (capital, labour and energy) and two factor-specific...
Persistent link: https://www.econbiz.de/10012946709
reserves. Ranked 2nd among OPEC and with a potential for natural gas exports to Europe and Asia, Iran also plays a significant …
Persistent link: https://www.econbiz.de/10013074990