This paper provides novel information on the propagation of the pandemic-induced real shock to firms' financial conditions. It uses firm-level survey data from end February to early April 2020 for a large sample of euro area SMEs and large firms. Firms' expectations on the availability of credit...

This paper examines typical “energy paths”, i.e. the intertemporal development of the energy mixes of the member states of the European Union over 1971-2010. We apply model based clustering to detect major energy profiles and their compositional dynamics. The seven identified clusters show...

Across the globe, renewable energy policy is changing. The change is coming so quickly that it appears the world is now on the cusp of a new future. The renewable energy policy of the past is on its way out; a new and different policy is taking its place. That new policy has different end goals,...

This paper discusses possible technical, economical and geopolitical consequences of the new energy scenario. We analyze the net zero emissions global race with an emphasis on the role renewable energies will play in this phenomenon and COP26’s recent decisions on climate and energy...

Using new and unique survey evidence on digitalisation activities and investment in climate change of non-financial firms in the EU and the US, this article documents the trend towards twin digital and green investment in the corporate landscape after the COVID-19 pandemic. We use information...

This study explores the relationship between energy and material efficiency innovations (EMEIs) and innovation strategies employed by manufacturing firms to develop their process innovations. Firms may mainly develop process innovations in-house, let them mainly develop by other enterprises or...

The aim of this report is to foster a better understanding of past trends in, and drivers of, productivity growth in the countries of the European Union (EU) and of the interplay between productivity and monetary policy. To this end, a group of experts from 15 national central banks and the...

A large literature links wage inequality to technology, but it does not explicitly consider whether innovation contributes to shaping wage inequalities within firms. In this work we seek to fill this gap, exploiting a representative matched employer–employee survey on firms active in major...

Applications such as iMessage, KakaoTalk, LINE, Signal, Skype, Snapchat, Threema, Viber, WhatsApp and WeChat have become an increasingly popular means of personal and business interaction. Surprisingly little academic effort has gone into understanding the nature and origin of these...

This paper empirically studies how emission pricing affects capital replacement and adoption of embodied environmental technology. A pricing policy encourages firms to accelerate retirement of old capital assets and replace them with newer more efficient assets, but this may crowd out...