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A Public Finance Perspective on Climate Policy: Six Interactions That May Enhance Welfare
Siegmeier, Jan; Mattauch, Linus; Franks, Max; Klenert, David - Fondazione ENI Enrico Mattei (FEEM) - 2015
Climate change economics mostly neglects sizeable interactions of carbon pricing with other fiscal policy instruments. Conversely, public finance typically overlooks the effects of future decarbonization efforts when devising instruments for the major goals of fiscal policy. We argue that such a...
Persistent link: https://www.econbiz.de/10011268596
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Redistribution Effects of Energy and Climate Policy: The Electricity Market
Hirth, Lion; Ueckerdt, Falko - Fondazione ENI Enrico Mattei (FEEM) - 2012
policies redistribute wealth between consumers and producers, and within these groups. While redistribution is seldom the focus … the redistribution effects of two major electricity policies: support schemes for renewable energy sources, and CO2 … pricing. We find that the redistribution effects of both policies are large, and they work in opposed directions: while …
Persistent link: https://www.econbiz.de/10010603764
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Monitoring Managers: Does it Matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - Fondazione ENI Enrico Mattei (FEEM) - 2010
We test under what circumstances boards discipline managers and whether such interventions improve performance. We exploit exogenous variation due to the staggered adoption of corporate governance laws in formerly Communist countries coupled with detailed ‘hard’ information about the...
Persistent link: https://www.econbiz.de/10008540409
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Hunting the Living Dead A “Peso Problem” in Corporate Liabilities Data
Manera, Matteo; Cherubini, Umberto - Fondazione ENI Enrico Mattei (FEEM) - 2005
Recent literature has pointed out that information asymmetries may be the reason for the poor performance of structural credit risk models to fit corporate bond data. It is well known in fact that these models lead to a strong understatement of the credit spread terms structure, particularly on...
Persistent link: https://www.econbiz.de/10005423110
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Crossing the River by Feeling the Stones: The Case of Carbon Trading in China
Zhang, ZhongXiang - Fondazione ENI Enrico Mattei (FEEM) - 2015
Putting a price on carbon is considered a crucial step for China’s endeavor of harnessing the market forces to reduce its energy consumption and carbon emissions. Indeed, aligned with China’s grand experiment with low-carbon provinces and low-carbon cities in six provinces and thirty-six...
Persistent link: https://www.econbiz.de/10011268612
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Price Competition and Product Differentiation when Consumers Care for the Environment
Conrad, Klaus - Fondazione ENI Enrico Mattei (FEEM) - 2003
Increasing environmental awareness may affect the pleasure of consuming a good for which an environmental friendly substitute is available. When deciding to buy differentiated products, a compromise is sometimes made between preferred characteristics of the good and its environmental properties....
Persistent link: https://www.econbiz.de/10005385334
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Optimal Soil Management and Environmental Policy
Lafforgue, Gilles; Oueslati, Walid - Fondazione ENI Enrico Mattei (FEEM) - 2005
This paper studies the effects of environmental policy on the farmer’s soil optimal management. We consider a dynamic economic model of soil erosion where the intensity use of inputs allows the farmer to control soil losses. Therefore, inputs use induces a pollution which is accentuated by the...
Persistent link: https://www.econbiz.de/10005385355
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The Distributional Impacts of Policies for the Control of Transport Externalities.An Applied General Equilibrium Model
Mayeres, Inge - Fondazione ENI Enrico Mattei (FEEM) - 1999
The paper uses an applied general equilibrium model, calibrated to the situation in Belgium in 1990, to evaluate the welfare effects of small policy changes in the presence of transport externalities. The model incorporates three types of externalities: congestion, which has a feedback effect on...
Persistent link: https://www.econbiz.de/10005385363
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Endogenous Technology and Tradable Emission Quotas
Hoel, Michael; Golombek, Rolf - Fondazione ENI Enrico Mattei (FEEM) - 2006
We study an international climate agreement that assigns emission quotas to each participating country. Unlike the simplest models in the literature, we assume that abatement costs are affected by R&D activities undertaken in all firms in all countries, i.e. abatement technologies are...
Persistent link: https://www.econbiz.de/10005385375
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Governance and Environmental Policy Integration in Europe: What Can We learn from the EU Emission Trading Scheme?
Catenacci, Michela; Buchner, Barbara; Sgobbi, Alessandra - Fondazione ENI Enrico Mattei (FEEM) - 2007
The European Union Emission Trading System (EU ETS) is a landmark environmental policy, representing the world’s first large-scale greenhouse gas (GHG) trading program. The coexistence of state actors and top-down processes with stakeholders participation and flexible abatement strategies make...
Persistent link: https://www.econbiz.de/10005385382