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on Economic Design |
| By: | Breitschopf, Barbara; Büttner, Isabelle; Burghard, Uta |
| Abstract: | In light of the increasing climate change, policy makers have set ambitious targets for greenhouse gas emission. To achieve these targets, it is necessary to speed up the installation of renewable wind and solar power plants. This dynamic calls for an accelerated planning and permitting process with low resistance from citizens. To ensure a high acceptance of the energy transition, it is important to understand which design elements or characteristics, objectives or impacts of the energy transition are more or less preferred by citizens. This study therefore investigates what the preferred design elements for a fair and secure energy transition of German households look like. Based on literature and Energy Union objectives and policies, key dimensions are identified and then described by design elements. The dimensions are: the form of burden sharing of energy transition costs (distributional aspects), actions with respect to investment in and consumption of energy, the origin and security of energy supply and policies for a sustainable energy transition. To identify the favoured design elements, we applied a conjoint analysis. In an online survey conducted among 2000 German citizens, the respondents were asked to choose between two designs of the energy transition that are described by a design element per dimension. The results show that German households favour the polluter-pays rule for burden sharing, a regional energy supply to ensure supply security, information and appeals as policy instruments to promote the energy transition. Regarding actions, households opt for installing private photovoltaics. At the level of dimensions, the approval and refusal of the suggested burden sharing mechanisms were larger than those of the suggested energy supply design elements. |
| Keywords: | design elements, energy transition, preferences, burden sharing, energysecurity, investor |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisisi:s062023&r=des |
| By: | Hack, Lukas; Istrefi, Klodiana; Meier, Matthias |
| Abstract: | We propose a novel identification design to estimate the causal effects of systematic monetary policy on the propagation of macroeconomic shocks. The design combines (i) a time-varying measure of systematic monetary policy based on the historical composition of hawks and doves in the Federal Open Market Committee (FOMC) with (ii) an instrument that leverages the mechanical FOMC rotation of voting rights. We apply our design to study the effects of government spending shocks. We find fiscal multipliers between two and three when the FOMC is dovish and below zero when it is hawkish. Narrative evidence from historical FOMC records corroborates our findings. JEL Classification: E32, E52, E62, E63, H56 |
| Keywords: | FOMC, government spending, monetary policy, rotation |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20232851&r=des |
| By: | Raghbendra Jha; Azad Singh Bali |
| Abstract: | The 2017 Goods and Services Tax (GST) was one of most ambitious tax reforms introduced in India. This paper documents the context in which the GST was introduced – particularly the regional disparities in economic capacity, discusses design challenges in developing the GST, and the basic contours of the newly introduced GST. The paper advances two arguments. First, the he efficacy of India’s tax reform must be assessed in the context of federal transfers and larger spillovers of the GST to the economy. Further, there is a compelling necessity to review and recalibrate the entire gamut (and not piecemeal) of federal relations – tax, expenditure and transfers. This is critical to ensure the stability and predictability needed to ensure that India’s state driven growth blossoms and attains full fruition. |
| Keywords: | Fiscal Federalism, GST, federal transfers, India |
| JEL: | H2 H5 H6 H7 O5 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pas:asarcc:2023-02&r=des |