nep-env New Economics Papers
on Environmental Economics
Issue of 2021‒02‒08
58 papers chosen by
Francisco S. Ramos
Universidade Federal de Pernambuco

  1. Fiscal tools to reduce transition costs of climate change mitigation By Michele Catalano; Lorenzo Forni; Emilia Pezzolla
  2. Does pricing carbon mitigate climate change? Firm-level evidence from the European Union emissions trading scheme By Jonathan Colmer; Ralf Martin; Mirabelle Muûls; Ulrich J. Wagner
  3. Carbon adjustment mechanisms: Empirics, design and caveats By Garnadt, Niklas; Grimm, Veronika; Reuter, Wolf Heinrich
  4. Probability Assessments of an Ice-Free Arctic: Comparing Statistical and Climate Model Projections By Francis X. Diebold; Glenn D. Rudebusch
  5. Climate Policy and Optimal Public Debt By Maximilian Kellner; Marco Runkel
  6. Natural Resources Depletion, Renewable Energy Consumption and Environmental Degradation: A Comparative Analysis of Developed and Developing World By Ali, Amjad; Audi, Marc; Roussel, Yannick
  7. Amenazas de cambio climático, métricas de mitigación y adaptación en ciudades de América Latina y el Caribe By Siclari Bravo, Paola Gabriela
  8. A visualization review analysis of the last two decades for Environmental Kuznets Curve “EKC” based on co-citation analysis theory and pathfinder network scaling algorithms By Koondhar, Mansoor Ahmed; Shahbaz, Muhammad; Memon, Kamran Ali; Ozturk, Ilhan; Rong, Kong
  9. Advances in accounting for biodiversity and ecosystems: a typology focusing upon the environmental results imperative By C. Feger; Laurent Mermet
  10. Sustainability competences: A systematic literature review By Guia Bianchi
  11. Globalization and Greenhouse Gas Emissions: Evidence from the United States By Arik Levinson
  12. CLIMATE CHANGE AND MICROFINANCE: A WAKE-UP CALL FOR POLICY MAKERS By Alberto Lanzavecchia; Maria Palumbo; Bharat Singh Thapa
  13. The Elephant in the Room: Why Transformative Education Must Address the Problem of Endless Exponential Economic Growth By Chirag Dhara; Vandana Singh
  14. Assessment of possible leakage effects of implementing EU COM proposals for the EU Biodiversity Strategy on forestry and forests in non-EU countries By Dieter, Matthias; Weimar, Holger; Iost, Susanne; Englert, Hermann; Fischer, Richard; Günter, Sven; Morland, Christian; Roering, Hans-Walter; Schier, Franziska; Seintsch, Björn; Schweinle, Jörg; Zhunusova, Eliza
  15. OPTIMAL CARBON PRICING IN GENERAL EQUILIBRIUM: Temperature caps and stranded assets in an extended annual DSGE model By Frederick van der Ploeg; Armon Rezai
  16. Business concerns regarding environmental responsibility By Halkos, George; Nomikos, Stylianos
  17. Reviewing the 17 Sustainable Development Goals: Importance and Progress By Halkos, George; Gkampoura, Eleni-Christina
  18. Wanted! Free Trade Agreements in the Service of Environmental and Climate Protection By Julia Grübler; Roman Stöllinger; Gabriele Tondl
  19. Investigation of Institutional and Legislative Barriers and Drivers for Sustainable Transition Development of SMEs in Sri Lanka: A Literature Review By Rajapakshe, PSK; Jayasundara, JMSB; Prasanna, RPIR; Ekanayake, EMS; Naradda Gamage, Sisira Kumara; Abeyrathne, GAKNJ; Aravinda, MAKN; Bandara, KBTUK; Senarath, BTDN
  20. Biodiversity Conservation under ICDPs in a Bioeconomic Model: Nonprofit vs For-Profit National Parks By Zijin Xie; Ayumi Onuma
  21. Regulators and Environmental Groups: Substitutes or Complements? By Espinola-Arredondo, Ana; Stathopoulou, Eleni; Munoz, Felix
  22. Macroeconomic Outcomes in Disaster-Prone Countries By Alessandro Cantelmo; Giovanni Melina; Chris Papageorgiou
  23. What policies for the hydrogen sector ? Lessons from city buses By Guy Meunier; Jean-Pierre Ponssard
  24. Initial allocation of emission permits By Richard S.J. Tol
  25. A Possible Approach to Fiscal Rules in Small Islands — Incorporating Natural Disasters and Climate Change By Ryota Nakatani
  26. El financiamiento de la banca de desarrollo para un gran impulso ambiental en México en los tiempos del COVID-19 By Félix Mendoza, Alicia; Canseco Gómez, Gonzalo; Pérez Verdía Canales, Carlos; Saade Hazin, Miryam
  27. The grandkids aren't alright: the intergenerational effects of prenatal pollution exposure By Jonathan Colmer; John Voorheis
  28. EU Emissions Trading System By Richard S.J. Tol
  29. Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature By Signe Krogstrup; William Oman
  30. 3EID and Waste IO: the state of environmentally extended Input-Output Analysis in Japan By Shinichiro Nakamura
  31. Cap and trade By Richard S.J. Tol
  32. Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis By Matthew E. Kahn; Kamiar Mohaddes; Ryan N. C. Ng; M. Hashem Pesaran; Mehdi Raissi; Jui-Chung Yang
  33. The semiconducting principle of monetary and environmental values exchange By Vuong, Quan-Hoang
  34. Taxing Energy Use and Carbon Emissions to Reduce Global CO2 Levels By Karen Thierfelder; Scott McDonald; Sherman Robinson
  35. Governance of the water-energy-food nexus for an integrated implementation of the 2030 Agenda: Conceptual and methodological framework for analysis By Srigiri, Srinivasa Reddy; Dombrowsky, Ines
  36. Clean development mechanism By Richard S.J. Tol
  37. Green certificates- a better version of green bonds By Dion Bongaerts; Dirk Schoenmaker
  38. Nomadic Pastoralism, Climate Change, and Conflict in Africa By Eoin F. McGuirk; Nathan Nunn
  39. Understanding the European Union’s regional potential in low-carbon technologies By Enrico Bergamini; Georg Zachmann
  40. Disaster Displacement and Its Linkage to Climate Change Litigation in Africa By Klaaren, Jonathan
  41. Viewpoint: Regulating meat consumption to improve health, the environment and animal welfare By Bonnet, Céline; Bouamra-Mechemache, Zohra; Réquillart, Vincent; Treich, Nicolas
  42. Price Signaling and Quality Monitoring in Markets for Credence Goods By Philippe Mahenc; Alexandre Volle
  43. Fatality Risk Regulation By Hammitt, James K.; Treich, Nicolas
  44. Winds of Fire and Smoke: Air Pollution and Health in the Brazilian Amazon By Rudi Rocha; André Sant’Anna
  45. The impact economy- balancing profit and impact By Dirk Schoenmaker
  46. Enfoque NEXO en Centroamérica: nuevas estrategias para promover el desarrollo del riego en áreas rurales. Diagnóstico y propuesta de fomento del riego en la agricultura familiar de Honduras By Aedo, Marcela
  47. Inequality in the 21st Century: Climate, Digital Skills and Access to Education By Julia M. Puaschunder
  48. Health crises, resilience and refoundation of food systems [Editorial] By Jean-Louis Rastoin
  49. Quelles politiques publiques pour la filière hydrogène? Les enseignements tirés du cas des bus urbains By Guy Meunier; Jean-Pierre Ponssard
  50. Climate Change and Occupational Health: Are There Limits to Our Ability to Adapt? By Marcus Dillender
  51. The causal effects of long-term PM2.5 exposure on COVID-19 in India By Takahiro Yamada; Hiroyuki Yamada; Muthukumara Mani
  52. Quantifying the externalities of renewable energy plants using wellbeing data: the case of biogas By Krekel, Christian; Rechlitz, Julia; Rode, Johannes; Zerrahn, Alexander
  53. Heterogeneity in Migration Responses to Climate Shocks: Evidence from Madagascar By Marchetta, Francesca; Sahn, David E.; Tiberti, Luca; Dufour, Johany
  54. Exploring the Significance of Stakeholder Management in Ecotourism Implementation By Ahmad Salman
  55. Rational Drivers and the Choice Between Congestion Tolls and Tradeable Permits: A Political Economy Model By Bruno De Borger; Amihai Glazer; Stef Proost
  56. Who Values Future Energy Savings? Evidence from American Drivers By Arik Levinson; Lutz Sager
  57. Assessing social sustainability in the gig economy By Loganathan, Muralidharan
  58. Nouveaux élus locaux : pilotez votre plan de mandat !! By David Carassus

  1. By: Michele Catalano (Prometeia); Lorenzo Forni (Prometeia and University of Padova); Emilia Pezzolla (Prometeia)
    Abstract: How much the transition out of greenhouse gas emissions will cost to the economy? Current available estimates differ widely. This reflects different methodologies and assumptions adopted by different studies, combined with the inherent uncertainty related to forecasting future greenhouse gas emissions and temperature increases. This paper takes a different approach. In addition to replicating business as usual scenarios, we assume as given widely-used mitigation scenarios for future carbon emissions (as the Paris agreement path for example), and then back out the combinations of fiscal tools (especially carbon price measures and tax incentives for green investments) that can minimize the transition costs. To this end the paper extends the work done in Catalano et al. [2019] by using a global overlapping generations model in the spirit of Kotlikoff et al. [2019] combined with a climate module. The results show that the estimated economic costs of the carbon transition vary significantly depending on the fiscal tools used to reduce greenhouse gas emissions. Due to adjustment costs in the production structure, the world economy would minimize the potential transition costs if sustained by debt financed investment policies.
    Keywords: Climate, Global Warming, Government Policy, International Economics, Fiscal Policies and Behavior of Economic Agents
    JEL: Q54 Q58 F0 H2 H3
    Date: 2020–11
    URL: http://d.repec.org/n?u=RePEc:pad:wpaper:0265&r=all
  2. By: Jonathan Colmer; Ralf Martin; Mirabelle Muûls; Ulrich J. Wagner
    Abstract: In theory, market-based regulatory instruments correct market failures at least cost. However, evidence on their efficacy remains scarce. We evaluate the European Union Emissions Trading Scheme (EU ETS) - the world's first and largest market-based climate policy. Using administrative data on almost 4,000 French manufacturing firms, we estimate that the EU ETS induced regulated firms to reduce carbon dioxide emissions by 8-12% compared to unregulated firms after the Pilot phase, a necessary condition for climate change mitigation. These reductions account for 26% of the concurrent decline in aggregate industrial emission in France. We do not estimate any negative effects on the scale of production; instead we find that firms reduced the emissions intensity of value added by making targeted investments. We find no evidence that firms outsourced production to unregulated firms or markets. Collectively, these findings suggest that the EU ETS induced global emissions reductions, a necessary and sufficient condition for mitigating climate change.
    Keywords: climate, externalities & environmental regulation, trade and environment
    JEL: Q58 H23 F18
    Date: 2020–11
    URL: http://d.repec.org/n?u=RePEc:cep:cepdps:dp1728&r=all
  3. By: Garnadt, Niklas; Grimm, Veronika; Reuter, Wolf Heinrich
    Abstract: This article explores the design of Carbon Adjustment Mechanisms based on an analysis of historical data, the existing literature as well as theoretical considerations. In the empirical analysis we quantify territorial emissions as compared to the CO2 footprints for countries within the EU-ETS area and globally, we show which (mostly upstream) industries account for the majority of emissions, and identify how their emissions are imported embedded in final or intermediate products from more downstream industries. In an analysis based on gravity equations, we find evidence for carbon leakage in some emission-intensive industries, but only small overall effects. Based on our own evidence and the current literature, we conclude that - if a Carbon Adjustment Mechanism is to be established - focusing on emissions intensive industries could balance excessive bureaucratic burden and carbon leakage mitigation. To be effective, such a system should also extend to embedded emissions in downstream industries to avoid a shift of imports down the value chain. Concerns with regard to international trade relations could be addressed by not implementing Carbon Adjustment Mechanisms unilaterally, but rather using them as the basis for a cooperative approach to climate protection jointly with the most important trading partners.
    Keywords: Carbon border adjustment,Carbon leakage,Carbon tax,Climate policy
    JEL: Q56 Q53 F18 F14 F55 F64
    Date: 2020
    URL: http://d.repec.org/n?u=RePEc:zbw:svrwwp:112020&r=all
  4. By: Francis X. Diebold; Glenn D. Rudebusch
    Abstract: The downward trend in the amount of Arctic sea ice has a wide range of environmental and economic consequences including important effects on the pace and intensity of global climate change. Based on several decades of satellite data, we provide statistical forecasts of Arctic sea ice extent during the rest of this century. The best fitting statistical model indicates that overall sea ice coverage is declining at an increasing rate. By contrast, average projections from the CMIP5 global climate models foresee a gradual slowing of Arctic sea ice loss even in scenarios with high carbon emissions. Our long-range statistical projections also deliver probability assessments of the timing of an ice-free Arctic. These results indicate almost a 60 percent chance of an effectively ice-free Arctic Ocean sometime during the 2030s—much earlier than the average projection from the global climate models.
    JEL: C22 C51 C52 C53 Q54
    Date: 2020–12
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:28228&r=all
  5. By: Maximilian Kellner; Marco Runkel
    Abstract: This paper analyzes the optimal level of public debt when taxes are used not only for funding public expenditures but also for correcting externalities from climate change. Taking into account externalities implies that the optimal policy deviates from tax smoothing. Provided cumulative marginal damages are larger from today’s than from tomorrow’s emissions, the internalization of externalities decreases [increases] optimal debt if tax rates are on the increasing [decreasing] side of the Laffer curve. The reversed holds if the cumulative marginal damages increase over time. Allowing for endogenous adaptation investments reduces the deviation from tax-smoothing, but nevertheless increases optimal debt.
    Keywords: environmental externality, public debt, tax smoothing
    JEL: H23 H63 Q54 Q58
    Date: 2021
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_8865&r=all
  6. By: Ali, Amjad; Audi, Marc; Roussel, Yannick
    Abstract: This article investigates the impact of renewable energy consumption and natural resource depletion on environmental degradation from 1990 to 2014. The analysis of this study is distributed into three parts, developing country analysis, developed country analysis and complete sample analysis. An insignificant relation has found between natural resource depletion and environmental degradation in the case of complete sample analysis and developing country analysis, but vica-versa in developed countries. Fossil fuel energy consumption has a positive and significant impact on environmental degradation in developing countries. Renewable energy consumption has negative impact on environmental degradation in the case of complete sample analysis and developed country analysis, but visa-versa in developing countries. Economic growth positively and significantly effecting environmental degradation in all the three cases, this mean for higher economic growth we have to bear some environmental degradation. But it is the need of the hour that we should find some threshold between economic growth and pollutant emissions, so that a healthy environment can be safe for coming generations. So, for a healthy environment, fossil fuel consumption should be reduced and consumption of renewable energy with merchandised trade and urbanization can be encouraged.
    Keywords: environmental degradation, natural resources, economic growth, renewable energy
    JEL: F43 Q20 Q26 Q57
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:105277&r=all
  7. By: Siclari Bravo, Paola Gabriela
    Abstract: En este documento se aborda la relación entre ciudad y cambio climático, mediante la investigación de las tipologías, métricas y acciones aplicables al contexto de América Latina y el Caribe. Para profundizar el análisis de dichos aspectos, se seleccionaron cinco ciudades: Ciudad de México (México), Medellín (Colombia), Guayaquil (Ecuador), Puno (región) (Perú) y Recife (Brasil). En esa muestra, se analizaron el método y las herramientas de construcción del inventario de emisiones de gases de efecto invernadero, las características generales del plan de mitigación, el estudio de vulnerabilidad, el plan de adaptación y la relación de estas medidas con las contribuciones determinadas a nivel nacional.
    Keywords: CAMBIO CLIMATICO, CIUDADES, GAS DE EFECTO INVERNADERO, MEDIO AMBIENTE, DETERIORO AMBIENTAL, MEDICION, ESTUDIOS DE CASOS, CLIMATE CHANGE, CITIES, GREENHOUSE GASES, ENVIRONMENT, ENVIRONMENTAL DEGRADATION, MEASUREMENT, CASE STUDIES
    Date: 2021–01–12
    URL: http://d.repec.org/n?u=RePEc:ecr:col022:46575&r=all
  8. By: Koondhar, Mansoor Ahmed; Shahbaz, Muhammad; Memon, Kamran Ali; Ozturk, Ilhan; Rong, Kong
    Abstract: Environmental Kuznets curve (EKC) is a statistical tool to examine the cointegration and causality nexus between economic growth and carbon emissions. The EKC is widely used in energy and environmental economics studies. Although, a large number of researchers have analyzed the EKC by applying different statistical models, and some review work has been summarized to draw a pictorial view of extending studies in this research field. However, still, the macroscopic overview needs to be considered. Therefore, this study aims to contribute to the literature for finding a new pathway for further research employing, and to facilitate this research Scientometric analysis is carried out by feature in CiteSpace. The dataset of screened 2384 records out of a total of 59225 Web of Science (WoS) references for the timespan 1999-2019 was used to visualize the knowledge map and outcome of the scientific enterprise. The visualization results reveal the most influencing studies, institutions, authors, countries, keywords, and category cloud, in the research field of EKC. This paper reveals that the research on EKC in alignment with green and sustainable technology science requires more attention. Further, this paper would help authors and publishers make their decisions for the research of EKC and planning for future perspectives to contribute to academic development and applied methodology.
    Keywords: Environmental Kuznets Curve (EKC), Bibliometric, Scientometric Analysis Algorithm, Co-citation, Visualization, CiteSpace
    JEL: Q0
    Date: 2020–12–07
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:104949&r=all
  9. By: C. Feger (AgroParisTech, MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier); Laurent Mermet (AgroParisTech, CESCO - Centre d'Ecologie et des Sciences de la COnservation - MNHN - Muséum national d'Histoire naturelle - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique)
    Abstract: Accounting for biodiversity and ecosystems is a new and growing field of research. This is the first time four major areas of leading research in this field have been identified and reviewed simultaneously on the basis of their differences in scope (company, ecosystem or national) and purposes (logics of management accounting or balance sheet). In this paper, the usefulness of pursuing the growth in the developing field of "ecosystem-centric management accounting" is highlighted and makes assessment and monitoring of environmental results possible. In the field of social and environmental accounting, the suggested classification offers one form of response to the main test which arises from discussions over the interlinking of private and collective accounting systems.
    Abstract: Les recherches en comptabilité sur le thème de la biodiversité et des écosystèmes constituent un champ nouveau et en plein essor. Pour la première fois, quatre grands domaines d'innovation en la matière sont ici identifiés et discutés conjointement, sur la base de leurs différences de périmètres (entreprise, de l'écosystème ou national) et de finalités (logiques de comptabilités de gestion ou de bilan). L'importance de poursuivre le développement du domaine émergent des « comptabilités de gestion écosystème-centrées», qui rend possible l'évaluation et le suivi des résultats environnementaux, est mise en lumière. La typologie proposée apporte une forme de réponse au défi majeur de l'articulation entre les comptabilités privées et les comptabilités collectives dans le champ des comptabilités sociales et environnementales.
    Keywords: extra-financial reporting,ecosystems,indicators,accounting,biodiversity,natural capital,environment,ecological indicators,nonfinancial reporting
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-02549016&r=all
  10. By: Guia Bianchi (Sant'Anna School of Advanced Studies, Pisa, Italy.)
    Abstract: The green transition requires investments in updated skill sets to master green technologies and reduce the environmental footprint of activities. This report aims to support the implementation of the European Green Deal, the European Industry Strategy and the recently adopted European Skills Agenda for Sustainable Competitiveness, Social, Fairness and Resilience in the area of the EU citizens' skills necessary to guarantee a smooth twin digital and green transition. This study underlines the need to develop a more encompassing system to identify and update the necessary sustainability (instead of green) competences critical to perform sustainability-related jobs and other jobs in a sustainable manner.
    Keywords: Sustainability, Competences, Education, Green transition, Skills, Education
    Date: 2020–12
    URL: http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc123624&r=all
  11. By: Arik Levinson (Department of Economics, Georgetown University)
    Abstract: The US has been a global leader in regulating local air pollution and a global laggard in regulating greenhouse gases (GHGs). For decades, critics of US policy have expressed fears that stringent US regulations on local air pollution would lead to pollution havens overseas. Prior research suggests that has not happened. But what about the converse fear? Are the less stringent US climate regulations causing the US to become a pollution haven for other countries’ GHG-intensive industries? We provide a decomposition of US manufacturing GHG emissions and find no evidence of offshoring either to or from the United States since 1990.
    Keywords: Climate, International Trade, Sector Decomposition
    JEL: Q51 Q53 H41
    URL: http://d.repec.org/n?u=RePEc:geo:guwopa:gueconwpa~21-21-01&r=all
  12. By: Alberto Lanzavecchia (University of Padova, Padova, Italy); Maria Palumbo (University of Padova, Padova, Italy); Bharat Singh Thapa (Tribhuvan University, Kathmandu, Nepal)
    Abstract: People in the Hindu-Kush Himalayan region are particularly vulnerable to food insecurity related to climate change because of poor infrastructure, limited access to global markets, physical isolation, low productivity, and hazard exposure (IPCC, 2019). Farmers in this region are facing more frequent floods as well as prolonged droughts with ensuing negative impacts on agricultural yields and increases in food insecurity (Hussain et al. 2016; Manzoor et al. 2013). Drought, forest fires, floods and landslides are nowadays magnified by climate change. In Nepal, changes in monsoon patterns, increasing hydropower projects and poorly planned rural road projects will greatly exacerbate the situation of unacceptable presence of poverty and inequality of opportunities in the country. Climate change adaptation and mitigation measures at household level and micro business are urgent for policy makers. Microfinance can play a crucial role in fostering such good practice if capital is constrained by policy rules. Through the provision of credit and other financial services, microfinance helps rural people develop alternate livelihood opportunities, build assets and spread risks. There is a significant potential for taking benefit from financial innovations such as risk insurance, microfinance, conditional cash transfer programs, and targeted subsidies by scaling up these initiatives through policy and community level initiatives. However, mitigation and adaptation measures are not enough to prevent climate change adverse impacts: loss and damage (L&D) measures is becoming increasingly urgent and unavoidable. As a consequence, a full multi-level governance is needed. The Warsaw International Mechanism for Loss and Damage associated with Climate Change Impacts (2013) needs concrete implementation that requires the support of national policies and mechanisms. Following the case of Bangladesh, we call for both a top-down and bottom-up approach for addressing in a more comprehensive way L&D within the territory of Nepal. This policy paper is targeted at policy makers to urgently take action to design and implement effective strategies to tackle climate change impact to achieve economic and social progress.
    Keywords: climate change, adaptation, loss and damage, microfinance, Nepal
    JEL: Q54 R51 Q58
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:pad:wpaper:0268&r=all
  13. By: Chirag Dhara; Vandana Singh
    Abstract: A transformative approach to addressing complex social-environmental problems warrants reexamining our most fundamental assumptions about sustainability and progress, including the entrenched imperative for limitless economic growth. Our global resource footprint has grown in lock-step with GDP since the industrial revolution, spawning the climate and ecological crises. Faith that technology will eventually decouple resource use from GDP growth is pervasive, despite there being practically no empirical evidence of decoupling in any country. We argue that complete long-term decoupling is, in fact, well-nigh impossible for fundamental physical, mathematical, logical, pragmatic and behavioural reasons. We suggest that a crucial first step toward a transformative education is to acknowledge this incompatibility, and provide examples of where and how our arguments may be incorporated in education. More broadly, we propose that foregrounding SDG 12 with a functional definition of sustainability, and educating and upskilling students to this end, must be a necessary minimum goal of any transformative approach to sustainability education. Our aim is to provide a conceptual scaffolding around which learning frameworks may be developed to make room for diverse alternative paths to truly sustainable social-ecological cultures.
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2101.07467&r=all
  14. By: Dieter, Matthias; Weimar, Holger; Iost, Susanne; Englert, Hermann; Fischer, Richard; Günter, Sven; Morland, Christian; Roering, Hans-Walter; Schier, Franziska; Seintsch, Björn; Schweinle, Jörg; Zhunusova, Eliza
    Abstract: Overarching objective of the EU biodiversity strategy for 2030 is recovering biodiversity by strengthening the protection and restoration of nature. Key elements are the creation of protected areas on at least 30% of Europe's land and sea area, including stronger protective measures for forests. However, any implementation of dedicated measures will reduce roundwood production in EU member states. It is to be expected that parts of this reduced roundwood production will be compensated by increasing roundwood production in non-EU countries. There is a fundamental risk of biodiversity losses in non-EU countries accompanying such leakage of roundwood production. From a global perspective, such biodiversity losses must be opposed to biodiversity gains in EU countries. The presented study provides a first assessment of possible leakage effects and rep-resents the state of work as of September 2020. At first, the presented study provides an estimate of the decline in roundwood production in EU member states as a result of implementing partial or full production restrictions in forests. In a second step, implications of reduced roundwood production within EU-27 on global wood markets are assessed. Finally, leakage of roundwood production to non-EU countries is evaluated using indicators related to governance, sustainable forest management, biodiversity, forest condition, deforestation pressure and socio-economic aspects. In order to estimate the reduction in roundwood production in EU countries firstly three single implementation measures are assessed and then consolidated for Germany: (i) 10 % share of forest area set-aside, (ii) non-utilization of 'old-growth forests' and (iii) 30 % share of protected forest areas under Habitats Directive management requirements. As a result, the potential roundwood production in Germany declines on average within the period examined (2018 - 2052) by 23.96 million m³/a to 52.77 million m³/a or to 69 %. In the following calculations, this reduction share is assigned to all EU-27 countries. [...]
    Keywords: leakage,biodiversity,EU,forestry,forests
    Date: 2020
    URL: http://d.repec.org/n?u=RePEc:zbw:jhtiwp:159&r=all
  15. By: Frederick van der Ploeg; Armon Rezai
    Abstract: The general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for additional negative impacts of global warming on utility and productivity growth, mean reversion in the ratio of climate damages to production, labour-augmenting technical progress, and population growth. We also replace the GHKT assumption of full depreciation of capital each decade by annual logarithmic depreciation. Furthermore, we allow the government to use a lower discount rate than the private sector. We derive a tractable rule for the optimal carbon price for each of these extensions. We then simplify the GHKT model by modelling temperature as cumulative emissions and calibrating it to Burke et al. (2015) damages. Finally, we consider how the rule for the optimal carbon price must be modified to allow for a temperature cap, and what this implies for stranded oil and gas reserves. We illustrate our analytical results with a range of optimal policy simulations.
    Keywords: carbon price, tractable rule, general equilibrium, utility and growth damages, technical progress, population growth, logarithmic depreciation, differential discount rates, temperature cap, stranded oil and gas reserves
    JEL: H21 Q51 Q54
    Date: 2021–01–27
    URL: http://d.repec.org/n?u=RePEc:oxf:oxcrwp:227&r=all
  16. By: Halkos, George; Nomikos, Stylianos
    Abstract: The United Nations introduced the 17 Sustainable Development Goals in 2015, aiming to tackle economic, social and environmental problems that exist in the world and to promote the concept of sustainability and sustainable development. This paper provides a comprehensive literature review regarding the background of sustainable development and each one of the 17 SDGs; an in-depth analysis of the problems addressed in each goal is provided and these problems’ impacts in the world are identified. The importance of achieving each goal is highlighted, while recent data regarding the targets included in each goal are provided, as well as the mean changes of these data for the past few years, based on a trend analysis that we performed. An evaluation of the achievement of various targets is discussed; we highlight the need of improvement of various SDGs’ progress, including the 4th, 11th and 13th SDG.
    Keywords: GRI; Corporate social responsibility (CSR); Energy; Trend analysis.
    JEL: M00 Q01 Q40 Q5 Q50 Q56
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:105330&r=all
  17. By: Halkos, George; Gkampoura, Eleni-Christina
    Abstract: The United Nations introduced the 17 Sustainable Development Goals in 2015, aiming to tackle economic, social and environmental problems that exist in the world and to promote the concept of sustainability and sustainable development. This paper provides a comprehensive literature review regarding the background of sustainable development and each one of the 17 SDGs; an in-depth analysis of the problems addressed in each goal is provided and these problems’ impacts in the world are identified. The importance of achieving each goal is highlighted, while recent data regarding the targets included in each goal are provided, as well as the mean changes of these data for the past few years, based on a trend analysis that we performed. An evaluation of the achievement of various targets is discussed; we highlight the need of improvement of various SDGs’ progress, including the 4th, 11th and 13th SDG.
    Keywords: Sustainable Development Goals; SDGs progress; sustainability.
    JEL: I31 O44 Q01 Q56 Q58
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:105329&r=all
  18. By: Julia Grübler (The Vienna Institute for International Economic Studies, wiiw); Roman Stöllinger (The Vienna Institute for International Economic Studies, wiiw); Gabriele Tondl
    Abstract: The effects of international trade on the planet’s climate and environment are manifold and complex. This makes assessment of the impact of free trade agreements (FTAs) a delicate matter. This study provides an overview of the development of sustainability chapters in FTAs and discusses their potential and limitations. It highlights particular industry-specific environmental issues related to EU trade, especially with developing countries, and presents complementary policy options. In this vein, it zooms in on the EU-Mercosur FTA, for which a political agreement was reached in June 2019. It contrasts the estimated cost of increased CO2 emissions attributable to intensified trade relations, as one element of the ‘pains from trade’, with the estimated ‘gains from trade’ arising from lower prices for consumers. The analysis suggests that the benefits outweigh the costs; yet, the result is sensitive to assumed prices for pollutants. Furthermore, the effectiveness of the incorporated sustainability chapter is limited by its enforceability. The latter provokes a discussion on the modernisation of the framework of the World Trade Organization, which currently does not allow environmental challenges to be tackled effectively.
    Keywords: free trade agreements, trade policy, environment, sustainability, WTO, Mercosur
    JEL: F13 F14 F18 F64 O13 Q56
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:wii:rpaper:rr:451&r=all
  19. By: Rajapakshe, PSK; Jayasundara, JMSB; Prasanna, RPIR; Ekanayake, EMS; Naradda Gamage, Sisira Kumara; Abeyrathne, GAKNJ; Aravinda, MAKN; Bandara, KBTUK; Senarath, BTDN
    Abstract: It is well documented that Small and Medium Enterprises (SMEs) are recognized as the key to economic growth, innovations and market competition in both developed and developing countries. In Sri Lankan context SMEs play a noteworthy role in environmental, social and economic sustainability. This paper attempted to investigate institutional and legislative barriers and to explore the drivers affecting towards the sustainable transition development of Sri Lankan SMEs, through a systemic literature review. In this study researchers developed model framework for sustainable transition development of SMEs and filled the gap of literature interms of institutional and legislative barriers and drivers on SMEs sustainability. Findings of this study will provide directions for further invetigations on barriers and drivers for sustainable transition development of SMEs in an empirical context which certainly helpful to find out the case specific and unique divers and barriers for sustainability of SMEs.
    Keywords: Institutonal Barriers, Economic Growth, Sustainable Transition Development, Economic Sustainability, SMEs, Sri Lanka
    JEL: L10
    Date: 2020–12–30
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:105052&r=all
  20. By: Zijin Xie (Graduate School of Economics, Keio University); Ayumi Onuma (Faculty of Economics, Keio University)
    Abstract: Integrated conservation development projects (ICDPs) are considered important for enhancing biodiversity conservation and local development in developing countries. These projects usually share benefits with local communities and incorporate locals in biodiversity management. While some studies shed light on the effectiveness of ICDPs in biodiversity conservation, most of them do not consider the employment of locals in biodiversity management. Moreover, existing literature assumes that national parks are for-profit organizations whereas they are generally nonprofit entities. We develop a bioeconomic model to investigate the effect of introducing ICDPs in nonprofit as well as for- profit national parks with the employment of local labor in tourism on biodiversity conservation. We demonstrate that there are conditions for the ICDP to be successful in enhancing biodiversity. Under these conditions, if biodiversity improves or has no impact on agricultural productivity, the nonprofit national parks invariably bring higher utility to locals and improve biodiversity than for-profit national parks. Otherwise, nonprofit national parks do not necessarily bring higher utility to locals or improve biodiversity, as compared to for-profit national parks. Moreover, the ICDP is evaluated in terms of social welfare, and we show that a subsidy/taxation on wage rates will bring the market equilibrium to a social optimum.
    Keywords: Bioeconomic modeling, Biodiversity conservation, National park, ICDPs
    JEL: Q29 Q56 Q57
    Date: 2021–01–04
    URL: http://d.repec.org/n?u=RePEc:keo:dpaper:2021-001&r=all
  21. By: Espinola-Arredondo, Ana (Washington State University); Stathopoulou, Eleni (University of Leicester); Munoz, Felix (Washington State University)
    Abstract: This paper examines green alliances between environmental groups and polluting firms, which have become more common in the last decades, and analyzes how they a¤ect policy design. We first show that the activities of regulators and environmental groups are strategic substitutes, giving rise to free-riding incentives on both agents. Nonetheless, we find that the presence of the environmental group alone yields no welfare bene?t, as firms have no incentives to alter their abatement decisions when they do not face regulation. Therefore, the introduction of environmental groups yields a welfare gain when firms are already subject to regulation, suggesting that the former cannot completely replace environmental policy.
    Keywords: Abatement; Emission fees; R&D disruptive e¤ects; Equilibrium pro?les; Spillovers
    JEL: H23 L12 Q58
    Date: 2019–03–12
    URL: http://d.repec.org/n?u=RePEc:ris:wsuwpa:2019_001&r=all
  22. By: Alessandro Cantelmo; Giovanni Melina; Chris Papageorgiou
    Abstract: Using a dynamic stochastic general equilibrium model, we study the channels through which natural disaster shocks affect macroeconomic outcomes and welfare in disaster-prone countries. We solve the model using Taylor projection, a solution method that is shown to deal effectively with high-impact weather shocks calibrated in accordance to empirical evidence. We find large and persistent effects of weather shocks that significantly impact the income convergence path of disaster-prone countries. Relative to non-disaster-prone countries, on average, these shocks cause a welfare loss equivalent to a permanent fall in consumption of 1.6 percent. Welfare gains to countries that self-finance investments in resilient public infrastructure are found to be negligible, and international aid has to be sizable to achieve significant welfare gains. In addition, it is more cost-effective for donors to contribute to the financing of resilience before the realization of disasters, rather than disbursing aid after their realization.
    Keywords: Natural disasters;Public debt;Climate change;Consumption;Private investment;WP,depreciation rate,math display
    Date: 2019–10–11
    URL: http://d.repec.org/n?u=RePEc:imf:imfwpa:2019/217&r=all
  23. By: Guy Meunier; Jean-Pierre Ponssard (X - École polytechnique)
    Abstract: Summary: Hydrogen is a possible alternative to the internal combustion engine, alongside battery-powered vehicles, in the context of reducing greenhouse gas emissions associated with transport activities. The costs associated with hydrogen vehicles are currently high, even when considering the greenhouse gas emissions and other pollutants avoided by their use. Efforts to reduce these costs, which will determine the social and environmental desirability of hydrogen vehicles, face two challenges : the high cost of refueling, linked to the crucial problem of coordination between development of the vehicle fleet and refueling infrastructure; and high purchase prices, which may decrease when sufficient quantities generate experience effects. This policy brief argues that each of these two handicaps calls for a specific policy design : at a local level for coordination between actors, and at a European level to generate sufficient volumes. The example of hydrogen-powered urban buses offers a telling illustration of these issues.. Key points: The growing importance of the hydrogen sector has been encouraged by various initiatives in France. These initiatives are based on the idea of a regional ecosystem : around a city, a network of local communities, or even a department or a region. The example of hydrogen buses shows that the abatement costs induced by this technology are still too high. The problem lies both in the price of the vehicles and the supply of fuel. Reducing the costs associated with the supply of fuel requires the resolution of coordination problems linked to network effects, which calls for a response at the local level. Achieving vehicle purchase prices low enough to be competitive requires a European approach, which alone makes it possible to reach significant volumes.
    Date: 2020–07
    URL: http://d.repec.org/n?u=RePEc:hal:journl:halshs-03019425&r=all
  24. By: Richard S.J. Tol (Department of Economics, University of Sussex, Falmer, United Kingdom)
    Abstract: Video discussion of the initial allocation of tradable emission permits
    Keywords: climate change, cap and trade, undergraduate, video
    JEL: Q54
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:sus:susvid:2104&r=all
  25. By: Ryota Nakatani
    Abstract: A big challenge for the economic development of small island countries is dealing with external shocks. The Pacific Islands are vulnerable to natural disasters, climate change, commodity price changes, and uncertain donor grants. The question that arises is how should small developing countries formulate a fiscal policy to achieve economic stability and fiscal sustainability when prone to various shocks? We study how natural disasters affect long-term debt dynamics and propose fiscal policy rules that could help insulate the economy from such unexpected shocks. We propose fiscal rules to address these shocks and uncertainties using the example of Papua New Guinea. Our study finds the advantages of expenditure rules, especially a recurrent expenditure rule based on non-resource and non-grant revenue, interdependently determined by government debt and budget balance targets with expected disaster shocks. This paper contributes to the literature and policy dialogue by theoretically analyzing the impact of natural disasters on debt sustainability and proposing fiscal rules against natural disasters and climate changes. Our fiscal policy framework is practically applicable for many developing countries facing increasing frequency and impact of natural disasters and climate change. Our rules-based fiscal framework is crucial for sustainable and countercyclical macroeconomic policies to build resilience against devastating natural hazards.
    Keywords: Natural disasters;Fiscal rules;Expenditure;Fiscal policy;Public debt;WP,expenditure rule,stabilization fund
    Date: 2019–09–06
    URL: http://d.repec.org/n?u=RePEc:imf:imfwpa:2019/186&r=all
  26. By: Félix Mendoza, Alicia; Canseco Gómez, Gonzalo; Pérez Verdía Canales, Carlos; Saade Hazin, Miryam
    Abstract: El presente estudio explora el papel de la banca mexicana de fomento en el financiamiento y la movilización de recursos en el contexto de la pandemia de COVID-19 y, más ampliamente, su función en la promoción de un desarrollo más sostenible, que sea congruente con una visión de gran impulso ambiental. Sus autores recomiendan emprender una estrategia de financiamiento firmemente basada en la Agenda 2030 para el Desarrollo Sostenible, con un enfoque “de abajo hacia arriba” que responda a las necesidades propias de cada región y sector del país.
    Keywords: COVID-19, VIRUS, EPIDEMIAS, ENFERMEDADES VIROSICAS, ASPECTOS AMBIENTALES, ASPECTOS ECONOMICOS, DESARROLLO SOSTENIBLE, FINANCIACION DEL DESARROLLO, BANCOS DE DESARROLLO, POLITICA FINANCIERA, POLITICA AMBIENTAL, ESTUDIOS DE CASOS, COVID-19, VIRUSES, EPIDEMICS, VIRAL DISEASES, ENVIRONMENTAL ASPECTS, ECONOMIC ASPECTS, SUSTAINABLE DEVELOPMENT, DEVELOPMENT FINANCE, DEVELOPMENT BANKS, FINANCIAL POLICY, ENVIRONMENTAL POLICY, CASE STUDIES
    Date: 2021–01–13
    URL: http://d.repec.org/n?u=RePEc:ecr:col022:46578&r=all
  27. By: Jonathan Colmer; John Voorheis
    Abstract: Evidence shows that environmental quality shapes human capital at birth with long-run effects on health and welfare. Do these effects, in turn, affect the economic opportunities of future generations? Using newly linked survey and administrative data, providing more than 150 million parent-child links, we show that regulation-induced improvements in air quality that an individual experienced in the womb increase the likelihood that their children, the second generation, attend college 40-50 years later. Intergenerational transmission appears to arise from greater parental resources and investments, rather than heritable, biological channels. Our findings suggest that within-generation estimates of marginal damages substantially underestimate the total welfare effects of improving environmental quality and point to the empirical relevance of environmental quality as a contributor to economic opportunity in the United States
    Keywords: air pollution, environmental regulation, social mobility, human capital
    JEL: H23 Q53 J00
    Date: 2020–12
    URL: http://d.repec.org/n?u=RePEc:cep:cepdps:dp1733&r=all
  28. By: Richard S.J. Tol (Department of Economics, University of Sussex, Falmer, United Kingdom)
    Abstract: Video discussion of the EU ETS
    Keywords: climate change, cap and trade, undergraduate, video
    JEL: Q54
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:sus:susvid:2106&r=all
  29. By: Signe Krogstrup; William Oman
    Abstract: Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.
    Keywords: Climate change;Carbon tax;Climate policy;Greenhouse gas emissions;Public investment and public-private partnerships (PPP);WP,government failure,policy authorities,Policy tool,mitigation policy,monetary policy tool,Policy instrument
    Date: 2019–09–04
    URL: http://d.repec.org/n?u=RePEc:imf:imfwpa:2019/185&r=all
  30. By: Shinichiro Nakamura (Faculty of Political Science & Economics, Waseda University)
    Abstract: Japanese IO tables are one of the largest in the world. Taking advantage of this situation, highly original contributions were developed in the area of environmental IOA. This report focuses on 3EID, an IObased database on embodied greenhouse gas GHG emissions developed in the National Institute for Environmental Studies (NIES) and waste IO (WIO) developed by Nakamura and Kondo. Besides its high level of resolution in terms of sectoral disaggregation, the originality of 3EID consists in its explicit consideration of the physical relationships between input structure and emissions, which are mostly neglected in major international IO databases with GHG emissions. WIO has integrated waste generation and recycling within the framework of extended IOA in a highly general and flexible fashion. Recently, the Japanese Ministry of the Environment (MOE) developed and published its official WIO table, the first WIO officially developed and made public.
    Date: 2020–08
    URL: http://d.repec.org/n?u=RePEc:wap:wpaper:2010&r=all
  31. By: Richard S.J. Tol (Department of Economics, University of Sussex, Falmer, United Kingdom)
    Abstract: Video discussion of the many cap and trade systems around the world
    Keywords: climate change, tradable emission permits, undergraduate, video
    JEL: Q54
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:sus:susvid:2105&r=all
  32. By: Matthew E. Kahn; Kamiar Mohaddes; Ryan N. C. Ng; M. Hashem Pesaran; Mehdi Raissi; Jui-Chung Yang
    Abstract: We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms. Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capita real output growth is adversely affected by persistent changes in the temperature above or below its historical norm, but we do not obtain any statistically significant effects for changes in precipitation. Our counterfactual analysis suggests that a persistent increase in average global temperature by 0.04°C per year, in the absence of mitigation policies, reduces world real GDP per capita by more than 7 percent by 2100. On the other hand, abiding by the Paris Agreement, thereby limiting the temperature increase to 0.01°C per annum, reduces the loss substantially to about 1 percent. These effects vary significantly across countries depending on the pace of temperature increases and variability of climate conditions. We also provide supplementary evidence using data on a sample of 48 U.S. states between 1963 and 2016, and show that climate change has a long-lasting adverse impact on real output in various states and economic sectors, and on labor productivity and employment.
    Keywords: Climate change;Production growth;Labor;Public expenditure review;Climate policy;WP,math display
    Date: 2019–10–11
    URL: http://d.repec.org/n?u=RePEc:imf:imfwpa:2019/215&r=all
  33. By: Vuong, Quan-Hoang
    Abstract: This short article represents the first attempt to define a new core cultural value that will enable engaging the business sector in humankind’s mission to heal nature. First, I start with defining the problem of the current business culture and the extant thinking on how to solve environmental problems, which I called “the eco-deficit culture.” Then, I present a solution to this problem by formulating the “semiconducting principle” of monetary and environmental values exchange, which I believe can generate “an eco-surplus business culture.” This work adds one new element, the eleventh cultural value, to the ten core values of progressive cultures postulated by Harrison (2000).
    Date: 2021–01–14
    URL: http://d.repec.org/n?u=RePEc:osf:osfxxx:b6pwx&r=all
  34. By: Karen Thierfelder (United States Naval Academy); Scott McDonald (Humboldt University); Sherman Robinson (Peterson Institute for International Economics)
    Abstract: The purpose of this paper is to analyze the effect energy taxes have on CO2 emissions. The paper describes a short run response to current demands for mitigation, working through the price system to change behavior and using instruments currently available to governments. Other policy options such as changes to technology or the establishment of a market for carbon permits (i.e. cap and trade schemes) will take time to develop. This paper shows the implications of using either a sales tax on energy commodities or a tax on carbon to achieve mitigation objectives. A tax on carbon is more efficient than a tax on fossil fuels and requires less adjustment in terms of real GDP. The analysis also addresses the role of developing countries, finding that they can be exempt from tax changes with little effect on global CO2 emissions.
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:usn:usnawp:66&r=all
  35. By: Srigiri, Srinivasa Reddy; Dombrowsky, Ines
    Abstract: Implementing the 2030 Agenda requires an improved understanding of the interdependencies among the Sustainable Development Goals (SDGs) and targets and the design and implementation of coherent policies across different levels and sectors. The water-energy-food (WEF) nexus has emerged over the past decade as a useful concept to reduce trade-offs and increase synergies in promoting goals of water, energy and food security. While WEF scholarship substantiates the biophysical interlinkages and calls for increased and effective coordination across sectors and levels, knowledge about the conditions for effective coordination is lacking. We aim to contribute to this understanding by conceptualising WEF nexus governance from an analytical perspective as a polycentric system and by developing a framework based on the concept of networks of adjacent action situations (NAASs). The interdependence among transactions for pursuing WEF securities by actors in the differing action situations generates a need for coordination in changing or sustaining institutions, policy goals and policy instruments that guide actions leading to sustainable outcomes. Coordination is achieved through arrangements based on cooperation, coercion and competition. Coordination in complex social-ecological systems is unlikely to be achieved by a single governance mode but rather by synergistic combinations of such modes. Particular coordination arrangements that emerge in a given context depend on the distribution of authority, information and resources within and across interlinked decision-making centres. Integrating the political ecology-based conceptualisations of power into the analytical framework further extends the governance analysis to include the influence of power relations on coordination. Methodological innovation in delineating action situations and identifying the unit of analysis as well as integrating different sources and types of data are required to operationalise the conceptual framework.
    Date: 2021
    URL: http://d.repec.org/n?u=RePEc:zbw:diedps:22021&r=all
  36. By: Richard S.J. Tol (Department of Economics, University of Sussex, Falmer, United Kingdom)
    Abstract: Video discussion of the Clean Development Mechanism
    Keywords: climate change, emission reduction credits, undergraduate, video
    JEL: Q54
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:sus:susvid:2107&r=all
  37. By: Dion Bongaerts; Dirk Schoenmaker
    Abstract: The market for green bonds is growing rapidly and has been boosted by the European Commission’s plan to raise through green bonds 30 percent of the up to €750 billion that will be borrowed under the Next Generation EU coronavirus economic recovery programme. But while green bonds can reduce the financing costs of green projects and technologies, their current design means they fall short of fulfilling their full potential. Issuing green...
    Date: 2020–11
    URL: http://d.repec.org/n?u=RePEc:bre:polcon:39972&r=all
  38. By: Eoin F. McGuirk; Nathan Nunn
    Abstract: Arid regions of Africa are expanding by thousands of square kilometers a year, potentially disturbing pastoral routes that have been forged over a long period of time. This disturbance is often said to explain why “herder-farmer” conflicts have erupted in recent years, as pastoralists and agriculturalists compete for increasingly scarce resources. We examine this hypothesis by combining ecological and ethnographic data on the location of pastoral ethnic groups with grid-cell level data on violent conflict in Africa from 1989 to 2018. First, using ecological data, (i) we confirm that areas suited to both agriculture and pastoralism are particularly prone to conflict relative to either agricultural or pastoral areas alone; and (ii) we find that the effect of precipitation shocks on conflict in these agro-pastoral zones is negative at the country-level, but not at the cell-level. To explain this pattern, we compile data on the historical location of borders between both types of ethnic groups. We find that droughts in pastoral areas lead to conflict in neighboring agricultural areas. This spillover mechanism appears to explain much of the negative overall relationship between precipitation and conflict in the sample. It implies that agro-pastoral conflict is caused by the displacement of pastoral groups due to low precipitation in their homelands. This finding establishes one mechanism through which climate change can lead to more conflict in agro-pastoral zones.
    JEL: N10 Q54 Z1
    Date: 2020–12
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:28243&r=all
  39. By: Enrico Bergamini; Georg Zachmann
    Abstract: This research identifies existing and potential specialisation in green technologies in European Union regions, and proposes an approach to identify policies that can help to realise this potential. Using the Organisation for Economic Cooperation and Development’s REGPAT database for regionalised patent data, we estimate the potential advantage European NUTS2 regions could have in 14 green technologies. We use network proximity between technologies and between regions to understand technological/regional clusters, and...
    Date: 2020–11
    URL: http://d.repec.org/n?u=RePEc:bre:wpaper:40007&r=all
  40. By: Klaaren, Jonathan
    Abstract: It has been observed that the scholarship on African responses to climate change law lags behind the reality. This are however some recent efforts to address this gap in the literature. Some recent work has carefully sketched the national development of framework laws in Kenya and Uganda and, taking a pan-African albeit Anglophone perspective, has also addressed the ways in which such national laws might work with and influence each other. This gap is replicated in another corner of climate change scholarship, the literature on climate change litigation. This is unfortunate since action by civil society through national judiciaries often has real impact. For instance, the impact of the provisions in Kenya’s climate change legislation were significantly strengthened by the purposive interpretation given those provisions in Kenya’s most celebrated instance of climate change litigation, the Save Lamu matter. And courts are recognized to play a role in multi-level climate change governance, in part by providing a platform for transnational climate change litigation. Concerned to address these gaps, this article explores the material and conceptual linkages between disaster displacement and climate change with particular attention to litigation and to legal support structures. This article assumes a certain degree of familiarity with climate change litigation and its literature. It proceeds to explore and present a specific cross-cutting perspective, for which there is only modest treatment in the existing literature. This is the linkage of disaster displacement litigation (and legal responses) to climate change litigation. The article outlines and briefly examines a short but intense period of litigation regarding a disaster-induced displacement in South Africa which has not been widely discussed or attended to anywhere in the scholarly literature. Beyond demonstrating the gap between local institutional preparedness and the evident level of risk from disasters at all scales including those associated with climate change, the case study investigated here shows the importance of thinking about the local with the global, particularly with respect to the linkage between displacement and climate change.
    Date: 2021–01–14
    URL: http://d.repec.org/n?u=RePEc:osf:osfxxx:e5zju&r=all
  41. By: Bonnet, Céline; Bouamra-Mechemache, Zohra; Réquillart, Vincent; Treich, Nicolas
    Abstract: Meat consumption has increased significantly in the last 50 years. This trend raises various health and environmental issues, as well as moral concerns regarding farm animal welfare. In this paper, we discuss the regulation of meat consumption in developed countries. Specifically, we discuss possible justifications for this regulation in terms of environmental, health and animal welfare considerations, as well as the effect of fiscal, informational and behavioral regulatory instruments. Finally, we present a list of challenges that policy makers and food scholars may need to confront in the future.
    Keywords: Meat consumption; Regulation; Health; Environment; Climate change; Animal welfare
    JEL: Q11 Q52 H31
    Date: 2021–01–23
    URL: http://d.repec.org/n?u=RePEc:tse:wpaper:125173&r=all
  42. By: Philippe Mahenc (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Alexandre Volle (DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique)
    Abstract: We explore the interplay between price signaling and independent monitoring for communicating information about the credence attribute of a good, such as environmental quality. We augment the standard model of price signaling allowing consumers to use the results of noisy monitoring as a complementary source of information. We show that monitoring restores the credibility of price signaling by saving partly or fully the signaling cost borne by green rms to deter cheating. A key reason for this is that monitoring compensates for the lack of information resulting from arbitrary beliefs based on surprising prices. The more accurate monitoring, the cheaper price signaling. The signaling behavior of green rms also depends on their number. We determine which proportion of rms choose to improve environmental quality.
    Keywords: credence good,fraud,monitoring,signaling.
    Date: 2021–01–05
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03098440&r=all
  43. By: Hammitt, James K.; Treich, Nicolas
    Abstract: Environmental, transportation, occupational, and other regulations that reduce fatality risk are frequently evaluated using benefit-cost analysis (BCA). We examine how risk reductions are valued under BCA, utilitarian and prioritarian SWFs. The social value of risk reduction (SVRR) to an individual is the rate of increase of social welfare for a small decrease to the individual’s current-period fatality risk. Under BCA, the SVRR is the individual’s value per statistical life (VSL), which is increasing in wealth and baseline risk. Under utilitarian and prioritarian SWFs, the SVRR is far less sensitive to income; it can decrease with income for prioritarian SWFs that exhibit sufficient inequality aversion. The SVRR increases with or is independent of baseline risk. Like VSL, it can increase or decrease with age, but prioritarian SWFs assign larger SVRR to younger relative to older individuals than does the utilitarian SWF. Extensions to catastrophe aversion and nonfatal health risks are discussed.
    Keywords: mortality; regulation; benefit-cost analysis; value of a statistical life; fair innings; age; income; catastrophe aversion; prioritarian; utilitarian
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:tse:wpaper:125139&r=all
  44. By: Rudi Rocha; André Sant’Anna
    Keywords: fires, air pollution, health outcomes, Amazon
    Date: 2020–09–01
    URL: http://d.repec.org/n?u=RePEc:amc:wpaper:07&r=all
  45. By: Dirk Schoenmaker
    Abstract: How can governments and companies be jointly empowered to have a positive impact on the sustainable development goals? The current economic system is largely geared towards increasing economic growth. But this could come at the expense of rising social inequality and environmental degradation. This paper examines the link between economic system outcomes and corporate sustainability outcomes. We provide evidence that governments and companies can reinforce each other in their pursuit...
    Date: 2020–07
    URL: http://d.repec.org/n?u=RePEc:bre:wpaper:37575&r=all
  46. By: Aedo, Marcela
    Abstract: En el presente documento se hace un análisis de la situación en que se encuentran los tres sectores (agua, la energía y la producción de alimentos en la implementación de políticas públicas) y se presenta una propuesta para el fomento del riego en la agricultura familiar, determinando las posibles fuentes de agua y energía para abastecer el riego en las condiciones mencionadas. En el marco de los Objetivos de Desarrollo Sostenible definidos en la Agenda 2030 para el Desarrollo Sostenible se busca incrementar la producción de alimentos de una manera más eficiente y sostenible, así como mejorar las condiciones de vida de la población que vive en estos territorios rurales.
    Keywords: RIEGO, RECURSOS HIDRICOS, AGUA, USO DE LA TIERRA, CALIDAD DEL AGUA, AGRICULTURA, PEQUEÑAS EXPLOTACIONES AGRICOLAS, DERECHOS A LA TIERRA, DERECHOS SOBRE LAS AGUAS, RECURSOS ENERGETICOS, POLITICA DE AGUA, WATER, WATER RESOURCES, LAND USE, WATER QUALITY, AGRICULTURE, SMALL FARMS, LAND RIGHTS, WATER RIGHTS, ENERGY RESOURCES, WATER POLICY, IRRIGATION
    Date: 2021–01–15
    URL: http://d.repec.org/n?u=RePEc:ecr:col022:46583&r=all
  47. By: Julia M. Puaschunder (The New School, Department of Economics, USA)
    Abstract: In the 21st Century, inequality has many faces. This paper addresses three inequalities in the domains of climate change, digitalization and social justice in the eye of unequal access to education. The inequalities are first presented and then creative inequality alleviation strategies. Climate change requires attention for fairness that the costs of climate change mitigation and adaptation are spread equally within society, between countries and over time inbetween generations. Inequality arises in the access to quality healthcare that varies dramatically around the world. Access to good education is another area of inequality concern and in order to breed social upward mobility, a bundling strategy is proposed that aids excellent and struggling students.
    Keywords: Access to Education, Climate change, Digitalization, Equal Chances, Fairness, Inequality, Skills, Social Justice
    Date: 2020–11
    URL: http://d.repec.org/n?u=RePEc:smo:scmowp:010jmp&r=all
  48. By: Jean-Louis Rastoin (UMR MOISA - Marchés, Organisations, Institutions et Stratégies d'Acteurs - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement)
    Abstract: The agro-industrial food system after major advances is now facing heavy negative externalities, with health, social and environmental crises. An alternative prospective scenario (territorialized food systems) is driven by the objectives of sustainable development. It is based on product quality, autonomy, proximity, and local, national and international solidarity. It requires new food policies.
    Abstract: Le système alimentaire agroindustriel après d'importantes avancées se heurte désormais à de lourdes externalités négatives, marquées par de multiples crises sanitaires, sociales et environnementales. Un scénario de prospective alternatif (systèmes alimentaires territorialisés) est piloté par les objectifs du développement durable. Il est fondé sur la qualité des produits, l'autonomie, la proximité, et la solidarité locale, nationale et internationale. Il suppose de nouvelles politiques alimentaires.
    Keywords: food system,transition,territory,history,prospective,système alimentaire,territoire,histoire
    Date: 2020
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-03031701&r=all
  49. By: Guy Meunier; Jean-Pierre Ponssard (X - École polytechnique)
    Abstract: Résumé : La filière hydrogène est une alternative possible au moteur thermique, aux côtés des véhicules à batterie, dans la perspective de réduire les émissions de gaz à effets de serre associées aux activités de transport. Les coûts associés aux véhicules à hydrogène sont actuellement élevés, même au regard des émissions de gaz à effet de serre et de polluants évitées par leur utilisation. Une diminution des coûts associés aux véhicules à hydrogène, déterminant de leur désirabilité sociale et environnementale, se heurte pourtant à des difficultés de deux ordres. D'une part un coût de recharge élevé, où le problème de la coordination entre développement de la flotte de véhicules et infrastructure de recharge est crucial. D'autre part, des prix d'achat élevés, susceptibles de diminuer grâce à des quantités suffisantes générant des effets d'expérience.Cette note argumente que chacun de ces deux handicaps appellent une politique publique structurée à un niveau spécifique : un niveau local pour la coordination entre acteurs, et un niveau européen pour générer des volumes suffisants. L'exemple des bus urbains à hydrogène offre une illustration parlante de ces problématiques. Points clés : La montée en puissance de la filière hydrogène est encouragée par diverses initiatives en France. Ces initiatives reposent sur la notion d'écosystème régional : autour d'une ville, d'une communauté de collectivités locales, voire d'un département ou d'une région. L'exemple des bus à hydrogène montre que les coûts d'abattements induits par cette technologie sont encore trop élevés. Le problème réside à la fois dans le prix des véhicules et dans la fourniture du combustible. Faire diminuer les coûts associés à la fourniture du combustible nécessite la résolution de problèmes de coordination liés aux effets de réseau, ce qui appelle une réponse au niveau local. Atteindre des prix d'achats de véhicules suffisamment bas pour être compétitifs nécessite une approche européenne, qui seule permet d'atteindre un niveau significatif de volumes.
    Date: 2020–07
    URL: http://d.repec.org/n?u=RePEc:hal:journl:halshs-03019417&r=all
  50. By: Marcus Dillender (W.E. Upjohn Institute for Employment Research)
    Abstract: This study considers the relationship between temperature and occupational health. The results indicate that both high and low temperatures increase injury rates and that high temperatures have more severe adverse effects in warmer climates, which suggests that avoiding the adverse effects of high temperatures may be easier for workers when hot days are rarer. While research on the effect of temperature on mortality finds substantial capacity for adaption with current technology, the results presented here suggest that outdoor workers face challenges in adapting to high temperatures.
    Keywords: Multipliers, agglomeration economies, congestion effects, high-technology industries
    JEL: R11 R23
    Date: 2019–02
    URL: http://d.repec.org/n?u=RePEc:upj:weupjo:19-299&r=all
  51. By: Takahiro Yamada (The World Bank); Hiroyuki Yamada (Faculty of Economics, Keio University); Muthukumara Mani (The World Bank)
    Abstract: This study investigates the causal effects of long-term PM2.5 exposure on COVID-19 deaths, fatality rates and cases in India by using an instrumental variables approach based on thermal inversion episodes. The estimation results indicate that a 1% increase in long-term exposure to PM2.5 leads to an increase in COVID-19 deaths by 5.7 percentage points and an increase in the COVID-19 fatality rate by 0.027 percentage points, but this exposure is not necessarily correlated with COVID-19 cases. People with underlying health conditions such as respiratory illness caused by exposure to air pollution might have a higher risk of death following SARS-CoV-2 infection. This finding might also apply to other countries where high levels of air pollution are a critical issue in terms of development and public health.
    Keywords: COVID-19, Ambient Air Pollution, Instrumental Variables Approach, Thermal Inversion, India
    JEL: Q53 I15 O13
    Date: 2021–01–05
    URL: http://d.repec.org/n?u=RePEc:keo:dpaper:2021-002&r=all
  52. By: Krekel, Christian; Rechlitz, Julia; Rode, Johannes; Zerrahn, Alexander
    Abstract: Although there is strong support for renewable energy plants, they are often met with local resistance. We quantify the externalities of renewable energy plants using well-being data. We focus on the example of biogas, one of the most frequently deployed technologies besides wind and solar. To this end, we combine longitudinal household data with novel panel data on more than 13,000 installations in Germany. Identification rests on a spatial difference-in-differences design exploiting exact geographical coordinates of households, biogas installations and wind direction and intensity. We find limited evidence for negative externalities: impacts are moderate in size and spatially confined to a radius of 2,000 metres around plants. We discuss implications for research and regional planning, in particular minimum setback distances and potential monetary compensations.
    Keywords: renewables; biogas; externalities; social acceptance; wellbeing; spatial analysis; economic geography
    JEL: C23 Q42 Q51 R20
    Date: 2020–12
    URL: http://d.repec.org/n?u=RePEc:ehl:lserod:108526&r=all
  53. By: Marchetta, Francesca (CERDI, University of Auvergne); Sahn, David E. (Cornell University); Tiberti, Luca (Partnership for Economic Policy (pep)); Dufour, Johany (Université Laval)
    Abstract: We analyze the impact of climate events on migration among a cohort of young adults residing in rural Madagascar. We find a strong negative impact of drought on the decision of youth to migrate in the year after the adverse weather shock. Household assets and access to savings institutions attenuate this impact, consistent with the notion that wealth and savings cushion the blow of the shock on the resources required to finance migration. We also find that households that report more social connections outside their villages are more likely to have their young adult members migrate. Our findings suggest that the liquidity constraints from climate shocks that prevent youth migration are more binding for young women who migrate largely for reasons of marriage and education. Males, in contrast, are more likely to migrate in search of employment, which often has higher economic returns than migration motivated by marriage and education. These factors likely explain why drought deters migration of young women, but not so for young men who still choose to migrate in search of a job.
    Keywords: climate shocks, Madagascar, youth migration, internal migration
    JEL: O15 J13 N3 N57
    Date: 2021–01
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp14052&r=all
  54. By: Ahmad Salman (PhD Researcher School of Housing Building & Planning, University Sains Malaysia, Malaysia Author-2-Name: Mastura Jaafar Author-2-Workplace-Name: Faculty of Housing Building & Planning, University Sains Malaysia, Malaysia Author-3-Name: Diana Mohammad Author-3-Workplace-Name: Faculty of Housing Building & Planning, University Sains Malaysia, Malaysia Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: Objective - Ecotourism is one of the fastest-growing sectors of tourism. It is considered to be an alternative to mass tourism. The negative impacts, such as loss of biodiversity and loss of natural resources is confronted with the help of ecotourism. For the past years, stakeholders are considered to be vital for ecotourism implementation. Successful implementation of the ecotourism is not possible without the understanding, involvement and management of the stakeholders. Stakeholder management is vital for the successful ecotourism implementation in the destination, but it is not as simple as it sounds. Even though many types of research have been made on the issue of achieving ecotourism sustainability in tourism destination but there is still a lack of a robust and proper model that can assist in the management of stakeholders which can help to unify stakeholders to achieve sustainable ecotourism in the destination. Therefore, the aim of this study is to explore the importance of identifying stakeholder management significance that can enhance stakeholder interests to unify them towards achieving sustainable ecotourism in the destination. Methodology/Technique - Content analysis was done, and the study concludes that in order to manage stakeholders, their engagement has to be well planned by understanding their interests and level of influence. Twenty-one articles were selected and analyzed from Scopus and Web of Science databases. Finding - The management of the stakeholders varies accordingly to the destination due to which it has to be carefully planned so that sustainable ecotourism can be implemented in the destination. Stakeholders understanding will provide a win-win situation for the destination and make the ecotourism implementation process smoother. Moreover, the study also fills in the theoretical gap of the analysis of the studies, which is a part of a significant contribution towards ecotourism implementation in a destination.
    Keywords: Stakeholder Management, Engagement, Ecotourism, Sustainable Ecotourism
    JEL: D63 G12 G14
    Date: 2020–12–31
    URL: http://d.repec.org/n?u=RePEc:gtr:gatrjs:gjbssr575&r=all
  55. By: Bruno De Borger; Amihai Glazer; Stef Proost
    Abstract: People who anticipate the introduction of a policy can adapt their behavior, perhaps in ways that make the policy ineffective and exacerbate the problem to be addressed. This paper develops a political economy model to study strategic behavior related to the introduction of congestion policies, focusing on tradeable driving permits and congestion tolls. We have the following results. First, anticipatory behavior after the policies are announced but prior to their introduction may make both congestion policies welfare-reducing. Second, drivers will oppose the policies even when they receive all permits for free, or toll revenues are distributed to drivers only. As a consequence, strategic behavior makes it more difficult to get a political majority to support both congestion policies. Third, in an infinite horizon setting, tradable permits are superior to congestion tolls in that they avoid strategic behavior once the system is implemented. In contrast, with congestion tolls the steady-state equilibrium implies continuing strategic behavior. Drivers will always strictly prefer a permit system over congestion tolls as long as they receive a sufficient share of the permits for free.
    Keywords: anticipatory behaviour, political economy, congestion tolls, tradeable driving permits, strategic behavior
    JEL: H23 R41 R48 P16
    Date: 2021
    URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_8821&r=all
  56. By: Arik Levinson; Lutz Sager
    Abstract: Regulators attest that tightened energy efficiency standards save consumers money. Efficient light bulbs, appliances, and vehicles cost more upfront but reduce energy expenses by more than enough to compensate. We use survey data on American cars and their drivers to examine whether individual drivers have indeed underinvested in fuel economy, given the gas prices they face and the miles they drive. We find that may be true, but only on average. Some drivers could likely have saved money by spending more upfront for efficient cars. But many others could have saved money purchasing less expensive, less fuel-efficient cars. In fact we find little correlation between individual drivers’ annual fuel expenditures and their fuel economy choices: a driver’s income, sex, age, and education are far more closely associated with their vehicle’s fuel economy. We can rule out several explanations for the disconnect. Rich car purchasers do not seem to consider fuel expenses any more than poorer ones, undermining arguments that borrowing constraints prevent low-income consumers from investing in fuel efficiency. And the disconnect between fuel expenses and vehicle choice holds whether we examine anticipated or realized mileage, ruling out mistaken expectations about future driving as an explanation.
    JEL: Q48 Q58 R48
    Date: 2020–12
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:28219&r=all
  57. By: Loganathan, Muralidharan
    Abstract: Sustainable Development Goal 8 to “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all” necessitates country level measures across the world. We take forward a comparative analysis of India’s SDG 8 indicator list with both the UN and ILO measurements. We note inadequate measurements on social-protection and rights for non-standard forms of employment including gig work, that are intermediated by ICT platforms. From our analysis we identify some levers to broaden the current indicator measurements to include these non-standard workers as well, to improve social sustainability.
    Date: 2021–01–10
    URL: http://d.repec.org/n?u=RePEc:osf:socarx:5gych&r=all
  58. By: David Carassus (CREG - Centre de recherche et d'études en gestion - UPPA - Université de Pau et des Pays de l'Adour)
    Abstract: Les récentes élections locales ont amené, ou vont le faire, à ce que de nouveaux élus, qu'ils soient d'ailleurs sortants ou arrivants, soient désignés à la tête des communes et des structures intercommunales. Le temps de la campagne politique, et des joutes associées, laissent alors la place à la gestion locale, qu'elle soit stratégique ou opérationnelle. Or, parfois, dans la pratique locale, ces deux temps peuvent être dissociés, la campagne politique réalisée en amont n'ayant que peu d'influences sur la gestion effective de la collectivité. Pourtant, le plan de mandat, même s'il n'est pas formalisé en tant que tel, peut constituer un moyen de mise en relation et en action des propositions réalisées par les candidats avec la gestion opérationnelle de la collectivité. Il constitue en effet une somme d'actions projetées, plus ou moins organisée, par les futurs élus vis-à-vis de la population. Il représente aussi un engagement de la nouvelle équipe sur la période du mandat, et donne du sens aux engagements pris. Le plan de mandat fixe ainsi l'ambition de la nouvelle équipe, définie comme la représentation idéale et souhaitée de la collectivité, comme une projection formalisant une dynamique collective, ou encore comme une vision de l'action locale au regard d'un contexte donné. Il annonce de ce fait le positionnement de la collectivité sur un temps long en lien avec son territoire.
    Date: 2020–08–03
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-03046490&r=all

This nep-env issue is ©2021 by Francisco S. Ramos. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at http://nep.repec.org. For comments please write to the director of NEP, Marco Novarese at <director@nep.repec.org>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.