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  • Other refereed essays

    The Impact of the Tax Reduction on Fuel Prices in Germany: A Synthetic Difference-in-Differences Approach

    We analyse the impact of the temporary tax reduction on diesel and gasoline prices from June to the end of August 2022 in Germany. By implementing a synthetic difference-in-differences approach with different baskets of European countries, we find a significant reduction in prices by 33.8–34.4 cents per litre for gasoline and 12.2–14.6 cents per litre for diesel. These results are robust to variations ...

    In: Review of Economics 74 (2023), 2, S. 141-160 | Lea Bernhardt, Xenia Breiderhoff, Ralf Dewenter
  • Diskussionspapiere 2041 / 2023

    De-Fueling Externalities: How Tax Salience and Fuel Substitution Mediate Climate and Health Benefits

    This paper provides a comprehensive evaluation of the world’s largest environmental tax reform. We compare carbon and air pollutant emissions of the German transport sector and synthetic counterfactuals following the 1999 eco-tax reform, and find average re- ductions in external damages of around 80 billion Euros. We further show that the eco-tax induced low-carbon innovation and document much stronger ...

    2023| Pier Basaglia, Sophie Behr, Moritz A. Drupp
  • Diskussionspapiere 2035 / 2023

    Contracting Matters: Hedging Producers and Consumers with a Renewable Energy Pool

    Renewable energy installations are rapidly gaining market share due to falling technology costs and supportive policies. Meanwhile, the energy price crisis resulting from the Russian-Ukrainian war has shifted the energy policy debate toward the question of how consumers can benefit more from the low and stable generation costs of renewable electricity. Here we suggest a Renewable Pool (“RE-Pool”) under ...

    2023| Karsten Neuhoff, Fernanda Ballesteros, Mats Kröger, Jörn C. Richstein
  • SOEPpapers 1186 / 2023

    Health Implications of Building Retrofits: Evidence from a Population-Wide Weatherization Program

    What is the impact of housing upgrades on occupant health? Although economists and policymakers are certain about the health implications of housing upgrades, empirical evidence is largely missing or else only based on small-scale experiments in developing countries. This study provides the first population-representative quasi-experimental estimates based on a large-scale refurbishment program that ...

    2023| Steffen Künn, Juan Palacios
  • Diskussionspapiere 2036 / 2023

    Have the Effects of Shocks to Oil Price Expectations Changed? Evidence from Heteroskedastic Proxy Vector Autoregressions

    Studies of the crude oil market based on structural vector autoregressive (VAR) models typically assume a time-invariant model and transmission of shocks or they consider a time-varying model and shock transmission. We assume a heteroskedastic reduced-form VAR model with time-invariant slope coefficients and test for time-varying impulse responses in a model for the global crude oil market that includes ...

    2023| Martin Bruns, Helmut Lütkepohl
  • Externe Monographien

    De-Fueling Externalities: Causal Effects of Fuel Taxation and Mediating Mechanisms for Reducing Climate and Pollution Costs

    This paper provides the most comprehensive assessment of how fuel taxation reduces climate and pollution externalities with a quasi-experimental evaluation of the world’s largest environmental tax reform. Leveraging multiple causal inference methods, we compare carbon and air pollutant emissions of the actual and counterfactual German transport sector following the 1999 eco-tax reform and demonstrate ...

    München: CESifo, 2023, 37 S.
    (CESifo Working Papers ; 10508)
    | Pier Basaglia, Sophie M. Behr, Moritz A. Drupp
  • Externe Monographien

    The Value of a Loss: The Impact of Restricting Tax Loss Transfers

    We study the economic consequences of anti-loss trafficking rules, which disallow theuse of loss carry-forwards as tax shield after a substantial ownership change. We usestaggered changes to anti-loss trafficking rules in the EU27 Member States, Norwayand United Kingdom from 1998 to 2019 and find that limiting the transfer of tax lossesreduces the number of M&As by 18%. The impairment is driven by ...

    SSRN, 2023, 56 S.
    (TRR 266 Accounting for Transparency Working Paper Series ; 128)
    | Theresa Bührle, Elisa Casi, Barbara Stage, Johannes Voget
  • Refereed essays Web of Science

    Have the Effects of Shocks to Oil Price Expectations Changed? Evidence from Heteroskedastic Proxy Vector Autoregressions

    Studies of the crude oil market based on structural vector autoregressive (VAR) models typically assume a time-invariant model and transmission of shocks and possibly allow for heteroskedasticity by using robust inference procedures. We assume a heteroskedastic reduced-form VAR model with time-invariant slope coefficients and explicitly consider the possibility of time-varying shock transmission due ...

    In: Economics Letters 233 (2023), 111416, 5 S. | Martin Bruns, Helmut Lütkepohl
  • Diskussionspapiere 2056 / 2023

    Hicks in HANK: Fiscal Responses to an Energy Shock

    The distributional and disruptive effects of energy supply shocks are potentially large. We study the effectiveness of alternative fiscal responses in a two-country HANK model that we calibrate to the euro area. Energy subsidies can stabilize the domestic economy, but are fiscally costly and generate adverse spillovers to the rest of the monetary union: What the subsidizing country gains, the other ...

    2023| Christian Bayer, Alexander Kriwoluzky, Gernot J. Müller, Fabian Seyrich
  • Refereed essays Web of Science

    Local Energy Markets

    In current power markets, the bulk of electricity is sold wholesale and transported to consumers via long-distance transmission lines. Recently, decentralized local energy markets have evolved, often as isolated networks based on solar generation. We analyze strategic pricing, investment, and welfare in local energy markets. We show that local energy markets yield competitive equilibrium prices and ...

    In: The Journal of Industrial Economics 71 (2023), 3, S. 855-882 | Pio Baake, Sebastian Schwenen, Christian von Hirschhausen
416 results, from 31
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