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Renewable Energy and Equilibrium Hedging in Electricity Forward Markets

We study the impact of renewable energy on forward markets for electricity. Previous literature shows that forward prices are determined by time-varying demand and volatile spot prices. We introduce supply risk from renewable generation and find that stochastic renewable output mitigates income risk for generating firms, in particular when negative shocks to renewable output have large positive price ...

Technological Progress, Occupational Structure, and Gender Gaps in the German Labour Market

We analyze if technological progress and the change in the occupational structure have improved women’s position in the labour market. We show that women increasingly work in non-routine manual and in interactive occupations. However, the observed narrowing of the gender wage gap is entirely driven by declining gender wag gaps within, rather than between, occupations. A decomposition exercise reveals ...

Study on the Effectiveness of COVID-Aid on Firms

The study investigates the impact of COVID-related State aid measures (COVID-aid) on firms’ performance in selected EU countries, distinguishing among different categories of (pre-crisis) firm size, economic sector, and type of financial instrument received. The current analysis covers three countries with available National State Aid Registries, namely Italy, Poland, and Spain, which enable precise ...

Shared Pooled Mobility: Expert Review from Nine Disciplines and Implications for an Emerging Transdisciplinary Research Agenda

Shared pooled mobility has been hailed as a sustainable mobility solution that uses digital innovation to efficiently bundle rides. Multiple disciplines have started investigating and analyzing shared pooled mobility systems. However, there is a lack of cross-community communication making it hard to build upon knowledge from other fields or know which open questions may be of interest to other fields. ...

Collaborative Investor Engagement with Policymakers: Changing the Rules of the Game?

Purpose – Applying universal ownership theory and drawing on a multiplecase study design, this study aims to analyze what drives institutional investors to engage with government entities and what challengesthey find in the process.Design/methodology/approach – The authors relied on document analysis and conducted 12 semistructured interviews with representatives from asset owners, assetmanagers, investor ...

Labour Supply and Survivor Insurance in the Netherlands

This paper investigates the effects of survivor benefits (SB) on the labour supply of widows. Using richadministrative data on the Dutch population and a reform that considerably restricted eligibility to SB, weidentify the causal effect of SB on labour supply. Using a regression discontinuity design strategy based onthe cohort-based implementation of the reform, we show that labour income after spousal ...

Is There an Information Channel of Monetary Policy?

Exploiting the heteroscedasticity of the changes in short-term and long-term interest rates and exchange rates around the FOMC announcement, we identify three structural monetary policy shocks. We eliminate the predictable part of the shocks and study their effects on financial variables and macro variables. The first shock resembles a conventional monetary policy shock, and the second resembles an ...

Thermal Retrofitting of Worst Performing Buildings Mitigates Risk of High Heating Costs

The pace of thermal retrofit of buildings in Germany remains slow. A Worst-First approach, prioritizing the retrofit of inefficient buildings, would address energy- and social policy objectives and deliver economic and climate benefits. Data from the German Socio-Economic Panel (SOEP) show how such an approach would protect especially low-income households often living in very inefficient buildings ...

Sustainable Finance Taxonomies: Enabling the Transition towards Net Zero? A Transition Score for International Frameworks

A plethora of sustainable finance taxonomies are emerging worldwide to support shifting trillions for climate action. Employing a qualitative research approach, we use document analysis to assess 26 sustainable finance taxonomy frameworks worldwide that are in the developing phase or have been published and/or adopted. Based on literature and data we build a transition score (TS) to evaluate the framework’s ...

What are the distributional advantages of retrofitting?