The aim of this paper is to investigate bi-directional spillovers into residential and industrial sectors induced by energy efficiency improvement (EEI) in both the short- and long-term, and the impact of nesting structure as well as the size of elasticities of substitution of production and...

Carbon control policies in OECD countries commonly differentiate emission prices in favor of energy-intensiveindustries. While leakage provides a efficiency argument for differential emission pricing, the lattermay be a disguised beggar-thy-neighbor policy to exploit terms of trade. Using an...

We study how the framework of classical game theory changes when the preferences of the players are described by Prospect Theory instead of Expected Utility Theory. Specifically, we study the influence of framing effect and probability weighting on the existence and specific structure of Nash...

This paper aims at empirically testing the dynamics of budget outcomes of Italian municipalities in the aftermath of floods, by accounting for heterogeneous levels of resilience and vulnerability to natural disasters. Our findings, based on a dynamic difference-in-difference after propensity...

The paper develops an explicit formula for the calculation of optimal carbon taxes in a dynamic integrated assessment framework. We attempt to generalize the Gosolov et al. (2014) theory by relaxing the restrictions with logarithmic preferences, Cobb-Douglas production and the full periodwise...

The climate targets defined under the Paris agreement of limiting global temperature increase below 1.5 or 2°C require massive deployment of low-carbon options in the energy mix, which is currently dominated by fossil fuels. Scenarios suggest that Carbon Capture and Storage (CCS) might play a...

The existing studies on Green Paradox and stranded assets focus on dirty exhaustible assets (fossil fuel reserves) and show that environmental regulations, by changing the costs of dirty inputs relative to clean ones, lead to replacements of the former by the latter and stranding of dirty assets...

The funds allocated by the National Recovery and Resilience Plan (NRRP) aim to trigger a multiplier effect on GDP as they are designed to help the recovery after the Covid-19 pandemic. The GDP increase is in turn expected to drive energy consumption up which will increase CO2 emissions, given...

The Water, Energy, Food and Ecosystems (WEFE) nexus refers to the system of complex and highly non-linear interconnections between these four elements. It now represents the basic framework to assess and design policies characterized by an holistic environmental end economical perspective. In...

This paper studies the impact of carbon pricing on firms' inflation expectations and discusses the potential implications for what constitutes the core of most central banks' mandate: price stability. Carbon policy shocks are identified from high-frequency changes in carbon futures price around...