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The Economic Consequences of Delay in U.S. Climate Policy

McKibbin, Warwick J.; Morris, Adele C.; Wilcoxen, Peter J. - 2014

The United States Environmental Protection Agency (EPA) has begun regulating existing stationary sources of greenhouse gases (GHG) using its authority under the Clean Air Act (the Act). The regulatory process under the Act is long and involved and raises the prospect that significant U.S. action...

Persistent link: https://www.econbiz.de/10014144219

Mitigating Climate Change : Growth-friendly Policies to Achieve Net Zero Emissions by 2050

Jaumotte, Florence; Liu, Weifeng; McKibbin, Warwick J. - 2021

The paper examines climate mitigation strategies to reach net-zero emissions by mid-century, focusing on smoothing macroeconomic costs in the short- to medium-term - the horizon relevant for policymakers. It explores a comprehensive policy package, which complements carbon pricing with an...

Persistent link: https://www.econbiz.de/10013212868

Substitutability and the Cost of Climate Mitigation Policy

Lu, YingYing - 2014

We explore how and by how much the values of elasticities of substitution affect estimates of the cost of emissions reduction policies in computable general equilibrium (CGE) models. We use G-Cubed, an intertemporal CGE model, to carry out a sensitivity and factor decomposition analysis. Average...

Persistent link: https://www.econbiz.de/10013056907

A UK Financial Conditions Index Using Targeted Data Reduction : Forecasting and Structural Identification

Kapetanios, George - 2017

A financial conditions index (FCI) is designed to summarise the state of financial markets. We construct two with UK data. The first is the first principal component (PC) of a set of financial indicators. The second comes from a new approach taking information from a large set of macroeconomic...

Persistent link: https://www.econbiz.de/10012948001

The Stability of Tax Elasticities Over the Business Cycle in European Countries

Boschi, Melisso - 2017

We estimate short- and long-run tax elasticities that capture the relationship between changes in national income and tax revenue. We show that the short-run tax elasticity changes according to the business cycle. We estimate a two state Markov-switching regression on a novel dataset of tax...

Persistent link: https://www.econbiz.de/10012951605

Investigating a Measure of Conventional and Unconventional Stimulus for the Euro Area

Halberstadt, Arne; Krippner, Leo - 2021

Older version is available at: https://ssrn.com/abstract=2899670We investigate the effect of the “Effective Monetary Stimulus” (EMS) on German and euro-area macroeconomic variables using a small-scale vector autoregression (VAR). The EMS is obtained from yield curve data and survey data, and...

Persistent link: https://www.econbiz.de/10013241257

What Drives the German Current Account? And How Does It Affect Other EU Member States?

Kollmann, Robert - 2014

We estimate a three-country model using 1995-2013 data for Germany, the Rest of the Euro Area (REA) and the Rest of the World (ROW) to analyze the determinants of Germany's current account surplus after the launch of the Euro. The most important factors driving the German surplus were positive...

Persistent link: https://www.econbiz.de/10013054630

What's in a Second Opinion? Shadowing the ECB and the Bank of England

Neuenkirch, Matthias - 2014

One way of evaluating how well monetary authorities perform is to provide the public with a regular and independent second opinion. The European Central Bank (ECB) and the Bank of England (BoE) are shadowed by professional and academic economists who provide a separate policy rate recommendation...

Persistent link: https://www.econbiz.de/10013063248

COVID-19 and Seasonal Adjustment

Abeln, Barend; Jacobs, Jan - 2021

The COVID19 crisis has a huge impact on economies all over the world. In this note we compare seasonal adjustments of X13 and CAMPLET before and after the COVID19 crisis. We show results of Quasi Real Time analyses for the quarterly series real GDP and the monthly series Consumption of...

Persistent link: https://www.econbiz.de/10013245262

What Affects Bank Market Power in the Euro Area? A Structural Model Approach

Coccorese, Paolo; Girardone, Claudia; Shaffer, Sherrill - 2021

In this study we explore market power in 13 EU banking sectors for the years 2007 to 2019 by estimating a structural …’ conduct that depends on selected factors. Our evidence indicates that EU banks enjoy a significant degree of market power …. Finally, a clear convergence pattern emerges in the behaviour of EU banks …

Persistent link: https://www.econbiz.de/10013249739