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Diskussionspapiere 2089 / 2024
This paper first shows that, contrary to conventional wisdom, the European Central Bank (ECB) can influence global energy prices. Second, through Lucas critique-robust counterfactual analysis, we uncover that the ECB’s ability to affect fast-moving energy prices plays an important role in the transmission of monetary policy. Third, we empirically document that, to optimally fulfill its primary mandate, ...
2024| Gökhan Ider, Alexander Kriwoluzky, Frederik Kurcz, Ben Schumann
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Refereed essays Web of Science
The use of gas will decline dramatically as part of the transition to net zero. Modeling at European levelsshows that by 2050 about 70% less gaseous fuels will be used. Significant regulatory reform is needed todeal with the impacts of this decline on the gas grid.
In:
One Earth
7 (2024), 7, S. 1158-1161
| Jan Rosenow, Richard Lowes, Claudia Kemfert
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Diskussionspapiere 2090 / 2024
We discuss the main Theories of Harm in EU merger control and their evolution since the 1990s. We present stylised facts and trends using data extracted from EU merger decisions by natural language processing tools. EU merger policy has adapted over time, both in terms of legislation and theories of harm, as well as in terms of the investigative tools and evidence used. The introduction of the new ...
2024| Tomaso Duso, Lea Bernhardt, Joanna Piechucka
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Refereed essays Web of Science
The energy transition requires substantial amounts of metals, including copper, nickel, cobalt, and lithium. Are these metals a bottleneck? We identify metal-specific demand shocks, estimate supply elasticities, and study the price impact of the transition in a structural scenario analysis. Prices of these four metals would reach previous historical peaks but for an unprecedented, sustained period ...
In:
Journal of the European Economic Association
22 (2024), 1, S. 200–229
| Lukas Boer, Andrea Pescatori, Martin Stuermer
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Other refereed essays
This paper presents a comprehensive analysis of the suitability of nuclear power as an option to combat the escalating climate emergency. Summarizing and evaluating key arguments, we elucidate why nuclear power is unsuitable for addressing climate change. The primary argument centers around the unresolved technical and human risks of accidents and proliferation, which are unlikely to be e????ectively ...
In:
Frontiers in Environmental Economics
3 (2024), 1242818, 10 S.
| Fabian Präger, Christian Breyer, Hans-Josef Fell, Christian von Hirschhausen, Claudia Kemfert, Björn Steigerwald, Thure Traber, Ben Wealer
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Externe Monographien
Für Länder auf der ganzen Welt stellt der Übergang zur Klimaneutralität eine Chance für Wirtschaftswachstum und Wohlstand dar. Gleichzeitig haben die Transformation der Wirtschaft und die mit ihr einhergehenden Staatsausgaben wichtige verteilungspolitische Implikationen. Die politischen Debatten um Energie- und Klimapolitik zeigen, wie wichtig es ist, diese verteilungspolitischen Implikationen zu verstehen, ...
Berlin:
TU Berlin,
2024,
XV, 132 S.
| Mats Kröger
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Externe Monographien
Policies that affect the cost of using fossil fuels in production have a complex impact on the economy. In this paper, we focus on the role of these policies for the pattern of comparative advantage through their effect on production costs in manufacturing industries. Using data on carbon prices and fossil fuel subsidies, we show that less stringent carbon pricing policies increase comparative advantage ...
Geneva:
WTO,
2024,
48 S.
(Staff Working Paper ; Research ERSD-2024-08)
| Antonia Kurz, Stela Rubínová
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Refereed essays Web of Science
We examine how competition affects VAT pass-through in isolated oligopolistic markets as defined by the Greek islands. Using daily gasoline prices and a difference-in-differences methodology, we investigate how changes in VAT rates are passed through to consumers in islands with different market structure. We show that pass-through increases with competition, going from 50% in monopoly to around 80% ...
In:
International Journal of Industrial Organization
97 (2024), 103110, 18 S.
| Lydia Dimitrakopoulou, Christos Genakos, Themistoklis Kampouris, Stella Papadokonstantaki
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Refereed essays Web of Science
A recent discussion paper Sufficiency as a “Strategy of the Enough”: A Necessary Debate by the German Advisory Council on the Environment (SRU) aims to intensify the debate on sufficiency, a central but neglected element of future-oriented policy. It defines sufficiency as the need to limit the consumption and production of ecologically critical goods and services, mainly by the economically rich, ...
In:
Gaia
33 (2024), 3, S. 275 – 281
| Julia Michaelis, Bendix Vogel, Sebastian Strunz, Wolfgang Lucht, Henriette Dahms, Christina Dornack, Anne Geissler, Julia Hertin, Franziska Hoffart, Claudia Kemfert, Manuel Klein, Wolfgang Köck, Jonas Lage, Elisabeth Marquard, Sophie Schmalz, Josef Settele, Bernd Sommer, Sebastian Weiss, Sophie Wiegand
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Externe Monographien
We study the impact of fossil fuel subsidy removal on presidential popularity using difference-indifference approaches and a stylized theoretical model. Analyzing macro level data for two subsidy removal events in Mexico and Bolivia in the early 2010s, we find evidence of a negative impact on presidential approval. Our theoretical probabilistic voting model predicts that the decline in popularity is ...
Washington D.C.:
IMF,
2024,
49 S.
(IMF Working Paper ; 24/230)
| Mariza Montes de Oca Léon, Achim Hagen, Franziska Holz