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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

Pollution havens? : carbon taxes, globalization, and the geography of emissions

Schroeder, Christofer; Stracca, Livio - 2023

This paper studies the impact of national carbon taxes on CO2 emissions. To do so, we run local projections on a cross-country panel dataset, matching measures of emissions of carbon dioxide with information on the introduction of carbon taxes and their implied price. Importantly, we consider...

Persistent link: https://www.econbiz.de/10014481125

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

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