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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

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

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

Does gender diversity in the workplace mitigate climate change?

Altunbaş, Yener; Gambacorta, Leonardo; Reghezza, Alessio; … - 2022

We match firm-corporate governance characteristics with firm-level carbon dioxide (CO2) emissions over the period 2009-2019 to study the relationship between gender diversity in the workplace and firm carbon emissions. We find that a 1 percentage point increase in the percentage of female...

Persistent link: https://www.econbiz.de/10012880714

Demand or supply? : an empirical exploration of the effects of climate change on the macroeconomy

Ciccarelli, Matteo; Marotta, Fulvia - 2021

The macroeconomic effects of climate-related events and climate policies depend on the interaction between demand- and supply-type of shocks that those events and policies imply. Using a panel of 24 OECD countries for the sample 1990-2019 and a standard macroeconomic framework, the paper tests...

Persistent link: https://www.econbiz.de/10012648889

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

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

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

The Green Golden Rule : habit and anticipation of future consumption

Faria, João Ricardo; McAdam, Peter - 2019

We derive the Green Golden Rule (GGR) in the Habit Formation (HF) and Anticipation of Future Consumption (AFC) frameworks. Since consumption is the key variable of GGR, time non-separabilities in preferences over consumption streams, given by the AFC and HF, may have important impacts on the...

Persistent link: https://www.econbiz.de/10011975631

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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