This paper compares how the pursuit of self-sufficient Lithium-ion battery production by the three main geo-economic players (China, the European Union, and the United States) is unfolding by looking at the electrification of the transport sector. The analysis of this paper uses the concept of...

This report presents an analysis of China's transition to a low-carbon energy system, which requires multi-disciplinary approaches. As a world's energy consumption driver, China will continue to play a significant role in the global energy transition in next few decades and its future choices in...

Electricity tariff reforms will be an essential part of the clean energy transition. Existing tariffs rely on average cost pricing and often set a price per unit that exceeds marginal cost. The higher price encourages over-adoption of residential solar panels and under-adoption of electric...

We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by durables whereas unsecured debt can be discharged in bankruptcy procedures. We show that the model matches the main quantitative characteristics of observed wealth and debt...

This paper extends Carroll's (2006) endogenous grid method and its combination with value function iteration by Barillas and Fernández-Villaverde (2007) to non-concave problems. The method is illustrated using a consumer problem in which consumers choose both durable and non-durable...

"This paper provides a simple dynamic optimization model of durable goods inventories. Closed-form solutions are derived in a general equilibrium environment with imperfect information and serially correlated shocks. The model is then applied to scrutinize some popular conjectures regarding the...