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Benefits and costs of the ETS in the EU, a lesson learned for the CBAM design
Böning, Justus; Di Nino, Virginia; Folger, Till - 2023
The EU is revising its emissions trading system (ETS) and plans to impose a carbon border adjustment mechanism (CBAM … contributed to cut greenhouse gas (GHG) emissions in the EU by 2-2.5 percentage points per year; pricier emissions and more … stringent caps accelerated the EU greening process. However, some carbon leakages occurred as declining emissions in regulated …
Persistent link: https://www.econbiz.de/10013490761
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The impact of environmental regulation on clean innovation : are there crowding out effects?
Benatti, Nicola; Groiss, Martin; Kelly, Petra; … - 2024
We examine the extent to which environmental regulation affects innovation and which policy types provide the strongest incentives to innovate. Using a local projection framework, we estimate the regulatory impact on patenting activity over a five-year horizon. As a proxy for environmental...
Persistent link: https://www.econbiz.de/10014558850
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Environmental regulation and productivity growth in the euro area : testing the Porter hypothesis
Benatti, Nicola; Groiss, Martin; Kelly, Petra; … - 2023
This paper analyses the impact of changes in environmental regulations on productivity growth at country- and firm-level. We exploit several data sources and the environmental policy stringency index, to evaluate the Porter hypothesis, according to which firms' productivity can benefit from more...
Persistent link: https://www.econbiz.de/10014315280
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The interplay between green policy, electricity prices, financial constraints and jobs : firm-level evidence
Bijnens, Gert; Hutchinson, John; Konings, Jozef; … - 2021
Increased investment in clean electricity generation or the introduction of a carbon tax will most likely lead to higher electricity prices. We examine the effect from changing electricity prices on manufacturing employment. Analyzing firm-level data, we find that rising electricity prices lead...
Persistent link: https://www.econbiz.de/10012499645
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Whatever it takes to save the planet? : central banks and unconventional green policy
Ferrari, Alessandro; Landi, Valerio Nispi - 2020
We study the effects of a temporary Green QE, defined as a policy that temporarily tilts the central bank's balance sheet toward green bonds, i.e. bonds issued by firms in non-polluting sectors. To this purpose, we merge a standard DSGE framework with an environmental model. In our model,...
Persistent link: https://www.econbiz.de/10012384477
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Monetary policy, neutrality and the environment
Faria, João Ricardo; McAdam, Peter; Viscolani, Bruno - 2021
We study the interaction between monetary and fiscal policies in a Ramsey-Sidrauski model augmented with environmental capital. Equilibrium solutions are studied through the "Green Golden Rule". Despite the non-separability of money in utility and intertemporally nonseparable preferences, money...
Persistent link: https://www.econbiz.de/10012594070
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Climate change mitigation : how effective is green quantitative easing?
Abiry, Raphael; Ferdinandusse, Marien; Ludwig, Alexander; … - 2022
We develop a two-sector incomplete markets integrated assessment model to analyze the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...
Persistent link: https://www.econbiz.de/10013332857
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Climate-conscious monetary policy
Nakov, Anton; Thomas, Carlos - 2023
We study the implications of climate change and the associated mitigation measures for optimal monetary policy in a canonical New Keynesian model with climate externalities. Provided they are set at their socially optimal level, carbon taxes pose no trade-offs for monetary policy: it is both...
Persistent link: https://www.econbiz.de/10014376057
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Deeper, wider and more competitive? : monetary integration, Eastern enlargement and competitiveness in the European Union
Ottaviano, Gianmarco I. P. (contributor);  … - 2007
firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered … located in participating economies. Enlargement has, instead, two contrasting effects. It improves the accessibility of EU …
Persistent link: https://www.econbiz.de/10003635984
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Economic growth and budgetary components : a panel assessment for the EU
Afonso, António (contributor);  … - 2008
In this paper we test whether a reallocation of government budget items can enhance long-term GDP growth in a set of European countries. We apply modern panel data techniques to the period 1970-2006, and we use three alternative dependent variables in a growth regression: economic growth, total...
Persistent link: https://www.econbiz.de/10003636014