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Optimal Carbon Taxation and Horizontal Equity : A Welfare-Theoretic Approach with Application to German Household Data
Hänsel, Martin C.; Franks, Max; Kalkuhl, Matthias; … - 2021
We develop a model of optimal carbon taxation and redistribution taking into account horizontal equity concerns by considering heterogeneous energy efficiencies. By deriving first- and secondbest rules for policy instruments including carbon taxes, transfers and energy subsidies, we then...
Persistent link: https://www.econbiz.de/10013239565
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Estimating the marginal abatement costs of carbon dioxide emissions in China : a parametric analysis
Du, Limin; Hanley, Aoife; Wei, Chu - 2013
This paper investigates the technical inefficiency, shadow price and substitution elasticity of CO2 emissions of China based on a provincial panel for 2001-2010. Using linear programming to calculate a quadratic parameterized directional output distance function, we show that China’s technical...
Persistent link: https://www.econbiz.de/10010211750
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The effect of climate policy on productivity and cost pass-through in the German manufacturing sector
Hintermann, Beat; Žarković, Maja; Di Maria, Corrado; … - 2020
We investigate productivity and cost pass-through of German manufacturing firms using administrative data from 2001 to 2014. Our framework allows for the estimation of quantity-based production functions for multi-product firms while controlling for unobserved productivity shocks and unobserved...
Persistent link: https://www.econbiz.de/10012385375
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Differential exposure to climate change? : evidence from the 2021 floods in Germany
Odersky, Moritz; Löffler, Max - 2023
We analyze the exposure of different income groups to the 2021 floods in Germany, which serve as an exemplary case of natural disasters intensified by anthropogenic climate change. To this end, we link official geo-coded satellite data on flood-affected buildings to neighborhood-level...
Persistent link: https://www.econbiz.de/10014419481
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Who’s fit for the low-carbon transition? Emerging skills and wage gaps in job and data
Saussay, Aurélien; Sato, Misato; Vona, Francesco; … - 2022
As governments worldwide increase their commitments to tackling climate change, the number of low-carbon jobs are expected to grow rapidly. Here we provide evidence on the characteristics of low-carbon jobs in the US using comprehensive online job postings data between 2010-2019. By accurately...
Persistent link: https://www.econbiz.de/10014243120
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Pricing Poseidon : extreme weather uncertainty and firm return dynamics
Kruttli, Mathias S.; Roth Tran, Brigitte; Watugala, … - 2019
We investigate the uncertainty dynamics surrounding extreme weather events through the lens of option and stock markets … by identifying market responses to the uncertainty regarding both potential hurricane landfall and subsequent economic … 5-10 percent, reflecting impact uncertainty. Using hurricane forecasts, we show that landfall uncertainty and potential …
Persistent link: https://www.econbiz.de/10012181922
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Extreme weather and risk preference : panel evidence from Germany
Kahsay, Goytom Abraha; Osberghaus, Daniel - 2016
Individual risk preference may change after experiencing external socio-economic or natural shocks. Theoretical predictions and empirical studies suggest that risk taking may increase or decrease after experiencing shocks. So far the empirical evidence is sparse, especially when it comes to...
Persistent link: https://www.econbiz.de/10011454120
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No need to worry? : estimating the exposure of the German banking sector to climate-related transition risks
D'Orazio, Paola; Hertel, Tobias; Kasbrink, Fynn - 2022
Climate change poses several risks to the value of financial assets and financial stability. The study conducted in this paper focuses on the German banking sector and estimates its exposure to climate risks arising from a transition to a carbon-neutral economy. Our analysis identifies the...
Persistent link: https://www.econbiz.de/10013164602
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The risk-adjusted carbon price
Ploeg, Frederick van der; Bremer, Ton van den - 2021
analytical results, and offer analytical insights into numerical results on the effects of economic and damage ratio uncertainty …
Persistent link: https://www.econbiz.de/10012545108
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Climate transition risk metrics: understanding convergence and divergence across firms and providers
Bingler, Julia Anna; Colesanti Senni, Chiara; Monnin, Pierre - 2021
Climate risks are now fully recognized as financial risks by asset managers, investors, central banks, and financial supervisors. Against this background, a rapidly growing number of market participants and financial authorities are exploring which metrics to use to capture climate risks, as...
Persistent link: https://www.econbiz.de/10012662168