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The Impact of Policy Measures on Future Power Generation Portfolio and Infrastructure: a Combined Electricity and CCTS Investment and Dispatch Model (ELCO)

This paper presents a general electricity-CO2 modeling framework that is able to simulate interactions of the energy-only market with different forms of national policy measures. We set up a two sector model where players can invest into various types of generation technologies including renewables, nuclear power and carbon capture, transport, and storage (CCTS). For a detailed representation of CCTS ...

Coal Taxes as Supply-Side Climate Policy: a Rationale for Major Exporters?

The shift away from coal is at the heart of the global low-carbon transition. Can governments of coal-producing countries help facilitate this transition and benefit from it? This paper analyses the case for coal taxes as supply-side climate policy implemented by large coal exporting countries. Coal taxes can reduce global carbon dioxide emissions and benefit coal-rich countries through improved terms-of-trade ...

Short-term benefits for Germany and the euro area from a U.S. interest rate hike

German Institute for Economic Research: No reason for exaggerated concern about an economic slowdown Euro area states can benefit from an interest rate increase in the U.S. in the short term, according to the findings of a current study by the German Institute for Economic Research (DIW Berlin). Thanks to the devaluation of the euro, their exports would rise to the extent that they are able to overcompensate ...

German and Euro Area Economies Will Benefit from a U.S. Interest Rate Hike in the Short Term

To accompany the economic upturn in the U.S., the Federal Reserve Bank has been raising its benchmark interest rate incrementally. In an increasingly globalized world in which the American economy plays a key role, an action like this has spillover effects on the international level. Based on a dynamic factor model, the present study shows that the member states of the euro area—Germany in particular—can ...

Liquidity Risk and Yield Spreads of Green Bonds

This study analyses how liquidity risk affects bonds’ yield spreads after controlling for credit risk, bond-specific characteristics and macroeconomic variables. Using two liquidity estimates, LOT liquidity and the bid-ask spread, we find that, in particular, the LOT liquidity measure has explanatory power for the yield spread of green bonds. Overall, however, the impact of LOT decreases over time, implying ...

Deutschland und der Euroraum profitieren kurzzeitig von einer Zinserhöhung in den USA

DIW Berlin: Kein Grund zu übertriebener Sorge vor einem wirtschaftlichen Dämpfer Die Euromitgliedstaaten können von Zinserhöhungen in den USA kurzzeitig wirtschaftlich profitieren, so das Ergebnis einer aktuellen Studie des Deutschen Instituts für Wirtschaftsforschung (DIW Berlin). Dank der Abwertung des Euros steigen die Exporte und können so die wegen der höheren ...

What about the U.S. interest rate: with Max Hanisch

To accompany the economic upturn in the U.S., the Federal Reserve Bank has been raising its benchmark interest rate incrementally. In an increasingly globalized world in which the American economy plays a key role, an action like this has spillover effects on the international level. Max Hanisch's study shows that the member states of the euro area—Germany in particular—can temporarily...

Nachgeforscht : bei Max Hanisch über US-Zinserhöhungen

Um den wirtschaftlichen Aufschwung in den USA zu begleiten,  hat die US-amerikanische Notenbank ihren Leitzins schritt- weise angehoben. In einer zunehmend globalisierten Welt, in  der die US-Wirtschaft eine führende Rolle spielt, bleibt eine  solche Entscheidung auf der internationalen Ebene nicht ohne  Folgen. Max Hanisch erklärt im "Nachgeforscht-Vlog", dass die...

Die Eurozone als Ganzes ist weniger anfällig für Schocks von außen: Interview mit Max Hanisch

Deutschland und der Euroraum profitieren wirtschaftlich kurzfristig von einer Zinserhöhung in den USA

Um den wirtschaftlichen Aufschwung in den USA zu begleiten, hat die US-amerikanische Notenbank ihren Leitzins schritt- weise angehoben. In einer zunehmend globalisierten Welt, in der die US-Wirtschaft eine führende Rolle spielt, bleibt eine solche Entscheidung auf der internationalen Ebene nicht ohne Folgen. Die vorliegende Studie zeigt anhand eines strukturellen dynamischen Faktormodells, dass ...