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Economic analysis, sustainability and environmental commons

Musu, Ignazio - 2013

When confronted with market weaknesses and failures determining sustainability problems for environmental common-pool resources, economic analysis has proposed government intervention as the only alternative available. Elinor Ostrom showed that this dichotomy between market and government is not...

Persistent link: https://www.econbiz.de/10010223360

Fiscal and regulatory instruments for clean technology development in the European Union

Dechezleprêtre, Antoine; Popp, David - 2015

This policy note investigates whether the current level of public support to environment-friendly technologies is sufficient to allow European countries to respond to the multiple challenges posed by climate change and other environmental concerns. We first lay out the justifications for...

Persistent link: https://www.econbiz.de/10010519926

Carbon prices are redundant in the 2030 EU climate and energy policy package

Aune, Finn Roar; Golombek, Rolf - 2018

In June 2018, an agreement between key EU institutions - the Commission, the European Parliament, and the European … Council - was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a … comprehensive assessment of the EU package, with its three main targets: lower greenhouse gas emissions, higher renewable share in …

Persistent link: https://www.econbiz.de/10011933893

Smart cap

Karp, Larry S.; Traeger, Christian - 2021

We introduce a "smart" cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty”). This cap responds endogenously to technology or macroeconomic shocks, relying on the market price of certificates to aggregate information. It allows policy makers to...

Persistent link: https://www.econbiz.de/10012438358

Does pricing carbon mitigate climate change? : firm-level evidence from the European Union emissions trading scheme

Colmer, Jonathan; Martin, Ralf; Muûls, Mirabelle; … - 2020

Persistent link: https://www.econbiz.de/10012487129

Trust in government and fiscal adjustments

Bursian, Dirk; Weichenrieder, Alfons J.; Zimmer, Jochen - 2013

The paper looks at the determinants of fiscal adjustments as reflected in the primary surplus of countries. Our conjecture is that governments will usually find it more attractive to pursue fiscal adjustments in a situation of relatively high growth, but based on a simple stylized model of...

Persistent link: https://www.econbiz.de/10009764994

Euro membership and fiscal reaction functions

Weichenrieder, Alfons J.; Zimmer, Jochen - 2013

The paper uses fiscal reaction functions for a panel of euro-area countries to investigate whether euro membership has reduced the responsiveness of countries to shocks in the level of inherited debt compared to the period prior to succession to the euro. While we find some evidence for such a...

Persistent link: https://www.econbiz.de/10009748386

Fiscal sustainability in the EU after the global crisis : is there any progress?

Wysocki, Maciej; Wójcik, Cezary - 2018

interesting case of a member state that without significant market pressure (the only EU country without recession during the … crisis) actively promoted several changes in the EU fiscal framework (e.g. 6-pack) and effectively internalized some of these … 2014 Q1. The case of Poland seems to suggest that the post-crisis EU fiscal measures can be effectively used to increase …

Persistent link: https://www.econbiz.de/10011900847

Fiscal sustainability and the role of inflation

Afonso, António; Alves, José; Matvejevs, Oļegs; … - 2023

We examine the relationship between inflation and fiscal sustainability with a two-step approach. In the first step, we estimate to estimate a country-specific time-varying measure of fiscal sustainability using the fiscal reaction function. This function captures the response of the primary...

Persistent link: https://www.econbiz.de/10014444867

Does monetary policy influence Euro area fiscal sustainability?

Afonso, António; Pereira, Francisco Gomes - 2024

This paper studies the impact of monetary policy on fiscal sustainability in the euro area. Our sample includes 12 euro area countries and covers the period from 2003:Q1 to 2022:Q4. We extend a fiscal reaction function (Bohn’s rule) by including the monetary policy stance as an interaction...

Persistent link: https://www.econbiz.de/10015046233