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on Environmental Economics |
| By: | Edwin van der Werf; Herman R. J. Vollebergh; Johanna Vogel |
| Abstract: | Limiting global warming to no more than 2°C requires global large-scale deployment of low-carbon and negative emissions technologies. This requires the development of new eco-innovations and the diffusion of new and existing ones. Existing portfolios of environmental and technology policy instruments, however, may not be up to this task. In this paper, we develop an evaluative framework for the assessment of existing and new policy instruments for the successful development and deployment of eco-innovations. Our evaluative framework considers focus, scope, strictness, coherence and timing as key criteria for the evaluation of policy instruments for the transition to a low-carbon economy. We apply our framework to the residential and commercial (buildings) sector in an ambitious country, Austria. |
| Keywords: | climate change mitigation policy, policy instruments, eco-innovation |
| JEL: | H23 Q54 Q58 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9192&r= |
| By: | Eskander, Shaikh; Fankhauser, Samuel |
| Abstract: | We present empirical evidence of the international emissions impact from climate change legislation in 98 countries between 1997 and 2017, using data from Climate Change Laws of the World. Unlike traditional measures of carbon leakage, we focus on net carbon imports, that is, the difference between consumption and production emissions. Using different estimation techniques, we estimate the impact on carbon intensity of two legislation variables, recent legislation (passed in the last 3 years) and older legislation (passed more than 3 years ago). We find that recent legislation reduces production emissions more than consumption emissions, while older laws have a bigger impact on consumption emissions. The combined effect of these changes on net carbon imports is very small. Overall, we find no evidence that domestic climate legislation has increased international carbon leakage over the past two decades. Indeed, in high-income countries the longrun leakage rate may even be negative. |
| Keywords: | climate change legislation; climate policy; carbon leakage; pollution havens; production emissions; consumption emissions; Centre for Climate Change Economics and Policy; Strategic Research Fund; Faculty of Business and Social Sciences |
| JEL: | F18 K32 Q54 Q58 |
| Date: | 2021–07–27 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111509&r= |
| By: | Julia M. Puaschunder (The New School, Department of Economics, USA) |
| Abstract: | This article proposed three innovative and heterodox ways to aid understanding and unleashing a sustainable economy in Three Essays on Environmental Justice: First, behavioral insights are presented about real-world relevant, easily-implementable nudges to steer human into future-oriented discounting. Second, macroeconomic modelling highlights countries’ different economic prospects on a warming globe in order to find a redistribution of benefits and burdens of climate change to share the gains and losses of a warming globe equally within society, between countries and over time. Third, a creative financialization strategy is introduced in bonds that help weight the burden of climate change more equally between today’s and tomorrow’s society. |
| Keywords: | Climate Bonds, Climate Change, Economics of the Environment, Ecotax, Environmental Justice, Environmental Governance, Fiscal Policy, Green New Deal, Monetary Policy, Multiplier, Sustainability, Teaching |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:smo:scmowp:01233&r= |
| By: | Elbaum Jean-David |
| Abstract: | This paper is a quasi-replication of Andersson (2019). I use the synthetic control method to estimate the effect of a carbon tax starting at $1.41 per tonne of CO2 and increased through successive reforms to $20 by 2011. The results show that, one year after the intervention, the tax reduced CO2 emissions from transport by around 10% relative to the synthetic counterfactual, composed from the weighted average of OECD countries. Five years after the intervention, the effect increases to almost 20% and in 2005, the last year of the dataset, the estimated effect is of around 48%. After some robustness checks, the estimated effect is a 15% reduction in 2005. My results are consistent with Andersson (2019), who finds a 12.5% reduction at the end of his studied period. My paper contributes to the thin literature analyzing the the effect of a carbon tax ex post, providing new evidence of the effectiveness of these instruments. |
| Keywords: | Solar systems; Carbon pricing; Emissions reduction; Environmental tax; Greenhouse gas emissions, Synthetic control method. |
| JEL: | H23 Q54 Q58 |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:irn:wpaper:21-05&r= |
| By: | Svenn Jensen; Christian P. Traeger; Christian Träger |
| Abstract: | Anthropogenic greenhouse gas emissions are changing the energy balance of our planet. Various climatic feedbacks make the resulting warming over the next decades and centuries highly uncertain. We quantify how this uncertainty changes the optimal carbon tax in a stochastic dynamic programming implementation of an integrated assessment model of climate change. We derive a general analytic formula for the “risk premium” governing the resulting climate policy. The formula generalizes simple precautionary savings analysis to more complex economic interactions and it builds the economic intuition for policy making under uncertainty. It clarifies the distinct roles of risk aversion, prudence, characteristics of the damage formulation, and future policy response. We show that an optimal response to uncertainty substantially reduces the risk premium. |
| Keywords: | climate change, uncertainty, risk premium, precautionary savings, prudence, climate policy, dynamic programming, integrated assessment, DICE, recursive utility |
| JEL: | Q54 Q00 D90 C63 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9196&r= |
| By: | Hochstetler, Kathryn |
| Abstract: | What kinds of national climate institutions can solve the governance challenges that the Paris Agreement devolves to them? This article identifies three stages of climate institutions in Brazil, a major emitter of greenhouse gases through deforestation that managed to reduce such emissions for nearly a decade. It shows that a narrow definition of climate institutions that seeks purpose-built state institutions fails to capture important dynamics there, and that such institutions have little direct impact on outcomes. In Brazil’s political landscape, national presidents exercise a decisive influence on their climate ambitions and capacities. However, positive and negative feedback loops also brought some effective climate action from the layering of climate purposes into existing institutions, as well as through non-traditional institutions like private governance arrangements for agriculture. |
| Keywords: | climate change; climate institutions; Brazil; deforestation; Taylor & Francis deal |
| JEL: | R14 J01 |
| Date: | 2021–07–21 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111417&r= |
| By: | Dikau, Simon; Volz, Ulrich |
| Abstract: | Chinese monetary and financial authorities have been among the pioneers in promoting green finance. This paper investigates the use of one specific monetary policy tool, namely window guidance, by the People’s Bank of China (PBC) and the China Banking Regulatory Commission (CBRC) to encourage financial institutions to expand credit to sustainable activities and curb lending to heavy-polluting industries. We investigate window guidance targets for the period 2001-2020 and find that ‘green window guidance’ was used by the CBRC from at least 2006 and by the PBC from 2007 to discourage lending to carbon-intensive and polluting industries and/or to increase support to sustainable activities. Both authorities stopped discouraging lending to carbon-intensive/polluting industries in 2014. Sustainable objectives were subsequently also removed from the PBC’s list of priority sectors at the start of 2019, ending the practice of green window guidance in China. Sustainability-enhancing window guidance targets were replaced and formalised through new ‘Guidelines for Establishing the Green Financial System’, reflecting efforts to move away from controls-based towards market-based policy instruments. Based on this analysis, the paper draws four lessons for the design of green finance policies for other countries that seek to enhance sustainable finance and mitigate climate change and related risks. |
| Keywords: | sustainable finance; central banking and financial supervision; China; Centre for Climate Change Economics and Policy; ES/P005241/1; ES/R009708/1; 71661137002 |
| JEL: | G10 G20 G30 Q01 Q50 |
| Date: | 2021–05–14 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111489&r= |
| By: | Sharma, Rajesh; Shahbaz, Muhammad; Sinha, Avik; Vo, Xuan Vinh |
| Abstract: | The growing size of stock market in the South Asian countries might have contributed to raising the level of industrial production and energy consumption. This upturned energy usage might have widened the scope for carbon emissions because these nations heavily rely on fossil fuels. In this milieu, therefore, in the present study, we assessed the impacts of stock market development, per capita income, trade expansion, renewable energy solutions, and technological innovations on carbon intensity in the four South Asia countries from 1990-2016. The empirical results based on the CS-ARDL approach revealed that stock market development, per capita income, and trade expansion invigorated carbon intensity in the South Asian countries. On the contrary, the increased usage of renewable energy solutions and technological advancement helped in reducing the energy-led carbon intensity. Further, the interaction of stock market with renewable energy, and subsequently with technological advancement delivered insignificant coefficients, which indicates the inefficacy of renewable energy and technological advancement in regulating stock market-led carbon intensity during the study period. Therefore, by considering the need for complementarity between economic growth and environmental targets, we proposed a multipronged policy framework, which may help the selected countries to attain the Sustainable Development Goals, with a special focus on SDG 7, 8, 9, and 13. |
| Keywords: | Stock Market Development; Carbon Intensity; South Asian Countries; Technological Innovations; Renewable Energy; CS-ARDL |
| JEL: | Q2 Q3 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108925&r= |
| By: | Christoph Siemroth; Lars Hornuf |
| Abstract: | Are investors willing to give up a higher return if the investment generates positive environmental impact? We investigate this question with a decision experiment among crowdfunders, where they choose between a higher return or environmental impact. Overall, 65% of investors choose environmental impact at the expense of a higher return for sufficiently large impact, 14% choose impact independent of the magnitude of impact, while 21% choose the higher return independent of impact. Combining the experimental data with historical investments, we find that investors allocate a larger share of funds to green projects if they value environmental impact more, and if they expect green projects to be more profitable. These findings suggest that investors have a preference for positive environmental impact, and satisfy it by investing in green projects. We further show that the preference for environmental impact is distinct from a preference for positive social impact. Finally, we introduce new survey measures of impact for future use, which are experimentally validated and predict field behavior. |
| Keywords: | debt crowdfunding, environmental impact, ESG, green investments, social impact, sustainable finance |
| JEL: | C93 D14 D90 G32 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9197&r= |
| By: | Raúl Gutiérrez-Meave; Juan Rosellón; Luis Sarmiento |
| Abstract: | The analysis of local environmental policies is essential when evaluating the consistency of national public policies vis-à-vis the compliance of global agreements to reduce climate change. This study explores one of these policies; the 2021 Mexican reform to change electric power dispatch from a marginal-cost-based to a command and control physical system prioritizing power generation from the state power company. The new law forces the dispatch of the state company power facilities before private power producers. We use the GENeSYS-MOD techno-economic model to determine the reform’s effect on the power system’s generation mix, cost structure, and anthropogenic emissions. For this, we optimize the model under three distinct scenarios; a business-as-usual scenario with no changes to the merit order, a model with the new physical order dispatch, and an additional case where in addition to the shift to the physical dispatch, we reduce the price of fuel oil below natural gas prices to simulate the current behavior of the power company. It is relevant to note that we optimize the energy system without any assumption regarding renewable targets or climate goals because of political uncertainty and the need of pinpoint the effect of the merit order change while avoiding possible variations in the state-space arising from other constraints. Our results show that by 2050, the new dispatch rule increases the market power of the state company to 99% of total generation and decreases the share of renewable technologies in the generation mix from 72% to 51%. Additionally, cumulative power sector emissions increase by 563 Megatons of CO2, which with the current cost of carbon in the European Emissions Trading System translates to around 36 billion Euros |
| Keywords: | Merit Order Rules; Power Sector; Energy Reform; Mexico; GENeSYS-MOD |
| JEL: | Q42 Q47 Q48 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1955&r= |
| By: | Nkosi, Mfundo; Dikgang, Johane; Kutela Gelo, Dambala; Pholo, Alain |
| Abstract: | An increasing number of countries around the world have linked taxes with passenger vehicle carbon dioxide (CO2) emission rates. Policymakers use vehicle and fuel taxes to target and reduce transportation greenhouse gas emissions. In 2010, the South African government joined this group, linking taxes to passenger-vehicle CO2-emission rates by introducing the vehicle CO2 tax, to reduce the carbon output of the new vehicle fleet by incentivising the purchase of more fuel-efficient vehicles. However, there is little evidence of the relative efficacy of this measure in South Africa. Based on new-vehicle sales data from 2010 to 2012, single-group interrupted time-series analysis (ITSA) reveals that CO2 taxes reduced average carbon emissions only marginally. This prompted the vehicle-CO2 tax reforms of 2013. Based on subsequent new-vehicle sales data, from 2013 to 2018, we find that the reforms have led to significant CO2 reductions. Overall, CO2 taxes moved consumer preference to low-emission vehicles (i.e., vehicles in the band producing less than 120g/km), and discouraged the purchase of bigger, heavier and more powerful vehicles. They also had a great effect on average emissions; by 2018, average carbon emissions had declined by 21% compared to 2010, to 151g/km. Moreover, there is some evidence that the tax has affected the mix of new vehicles that vehicle manufacturers sell in the South African market, as the volume of low carbon intensity new vehicles increased significantly, to 31% of total sales in 2018 compared to 13% in 2010. |
| Keywords: | CO2,emissions,taxes,vehicles |
| JEL: | H31 L62 Q41 Q54 R48 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:236726&r= |
| By: | Gillingham, Kenneth; Huang, Pei |
| Abstract: | This study examines the uneven effects of air pollution from maritime ports on physical and mental health across racial groups. We exploit quasi-random variation in vessels in port from weather events far out in the ocean to estimate how port traffic influences air pollution and human health. We find that one additional vessel in a port over a year leads to 3.0 hospital visits per thousand Black residents within 25 miles of the port and only 1.0 per thousand for whites. We assess a port-related environmental regulation and show that the policy can help alleviate racial inequalities in health outcomes. |
| Keywords: | air pollution,health,environmental justice,quasi-experiment,instrumental variables,regression discontinuity design |
| JEL: | D63 I14 Q51 Q53 Q58 R41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:21058&r= |
| By: | an Ha Truong (VIET - Vietnam Initiative for Energy Transition); Minh Ha-Duong (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Purpose: As governments force electricity producers to use more renewable energy sources, over a hundred thermal power plants in high-income countries turned to biomass as a partial or complete replacement for coal. Is the co-firing technology appropriate for Vietnam? Method: The technology assessment study is conducted by building an integrated lifecycle model of the sector, tracking material and financial flows from fuel sourcing to airborne emissions, simulating the economics, environmental and social implications of blending 5% of rice straw in two different existing coal power plants in Vietnam. Findings: The business value of co-firing is positive –straw is cheaper than coal–. It is likely not large enough to motivate the stakeholders. Co-firing creates an external social benefit by reducing air-borne pollution and creating jobs. It reduces the pollution caused by open field straw burning. We found the external social benefit to be several times larger than the private business value. Within that external benefit, the social value of avoided SO2, PM2.5 and NOx emissions dominates the social value of avoided CO2 emissions. The net job creation effect is positive: collecting straw creates more employment than using less coal destroys. Originality and limitations: This is the first technology assessment of co-firing biomass in coal power plants in Vietnam and one of the first for a subtropical middle-income country. The study only considers rice straw, and it does not address the role of government nor the biomass market functioning. Conclusion: The price of coal is the primary determinant of co-firing business value. There is an empirical economic justification for a public intervention to promote co-firing biomass in Vietnam. Local air quality goals, rather than greenhouse gas reduction policy, can justify such regulations. |
| Keywords: | Biomass cofiring,Emission control,Coal power,Lifecycle Assessment LCA,Technology assessment |
| Date: | 2021–07–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03277278&r= |
| By: | Kalsbach, Oliver; Rausch, Sebastian |
| Abstract: | Economists tend to view a uniform emissions price as the most cost-effective approach to reducing greenhouse gas emissions. This paper offers a different view, focusing on economies where society values the well-being of future generations more than private actors. Employing analytical and numerical general equilibrium models, we show that a uniform carbon price is efficient only under restrictive assumptions about technology homogeneity and intertemporal decision-making. Non-uniform pricing spurs capital accumulation and benefits future generations. Depending on sectoral heterogeneity in the substitutability between capital and energy inputs, we find that optimal carbon prices differ widely across sectors and yield substantial welfare gains relative to uniform pricing. |
| Keywords: | Sectoral Carbon Pricing,Differentiated Carbon Taxes,Climate Policy,Social Discounting |
| JEL: | Q54 Q58 Q43 H23 C61 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:21060&r= |
| By: | Tyler, Emily; Hochstetler, Kathryn |
| Abstract: | Strong climate institutional governance is necessary for countries to meet their international climate mitigation commitments. This article shows that while South Africa steadily created climate institutions up to 2011, these failed to take hold in the following years. Also, despite the systemically critical energy sector dominating the emissions profile, these climate institutions had no purchase over it. This situation is largely due to South Africa’s political economy of energy, which gave powerful actors the sustained ability to block meaningful institutionalisation of decarbonisation in the energy sector. As a result, South Africa’s climate institutions play few of the roles expected for successful institutionalization of climate action, with energy institutions instead playing a shadow climate governance role. This case suggests that conceptions of climate institutional governance in countries where single sectors dominate in emissions and power must accommodate the roles of institutions affecting climate outcomes despite this not being their primary objective. |
| Keywords: | climate institutions; just transition; minerals-energy complex; socio-economic transformation; South Africa; 19-1905-153965-CLS |
| JEL: | R14 J01 |
| Date: | 2021–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111482&r= |
| By: | Kenneth Gillingham; Pei Huang |
| Abstract: | This study examines the uneven effects of air pollution from maritime ports on physical and mental health across racial groups. We exploit quasi-random variation in vessels in port from weather events far out in the ocean to estimate how port traffic influences air pollution and human health. We find that one additional vessel in a port over a year leads to 3.0 hospital visits per thousand Black residents within 25 miles of the port and only 1.0 per thousand for whites. We assess a port-related environmental regulation and show that the policy can help alleviate racial inequalities in health outcomes. |
| JEL: | D63 I14 Q51 Q53 Q58 R41 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29108&r= |
| By: | Echeverría, Lucía (University of Zaragoza); Gimenez-Nadal, J. Ignacio (University of Zaragoza); Molina, José Alberto (University of Zaragoza) |
| Abstract: | Mobility gives individuals access to different daily activities, facilities, and places, but at the cost of imposing environmental burdens. The sustainable growth of society is linked to green mobility (e.g., public transport, walking, cycling) as a way to alleviate individual carbon footprints. This study explores the socio-demographic profile of individuals performing green travel (public and physical modes of transport) and identifies cross-country differences in green travelling behavior. We rely on information from the Multinational Time Use Study, MTUS. for Bulgaria, Canada, Spain, France, Hungary, Italy, the Netherlands, the United Kingdom, and the United States, from 2000 to 2019. We estimate Ordinary Least Squares regressions modelling individual decisions regarding green mobility. Our results indicate that the socio-demographic and family profile of travelers is not homogenous across green modes of transport, with physical travel exhibiting a much more consistent profile, across countries, in comparison to the use of public transport. Results indicate a positive relationship between living in urban areas and the time proportion of green travel, but estimates by country differ in magnitude and depend on the mode. We also find that some countries are more prone to green travel, and that transport infrastructure is more related to the proportion of time travelled by physical transport than by public transport. Our findings help in understanding who is committed to green mobility, while revealing systematic differences across countries that are worth analyzing. |
| Keywords: | green mobility, public transport, walking/cycling, Multinational Time Use Study |
| JEL: | R40 J22 O57 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14577&r= |
| By: | David S. Rapson; Erich Muehlegger |
| Abstract: | Electric vehicles (EVs) powered by renewable electricity are a centerpiece of efforts to decarbonize transportation. EV advocates also claim benefits from local pollution reductions, lower life-cycle costs to consumers, and improved energy security. We examine the theory and evidence behind these claims and evaluate when the market will produce the optimal path of EV adoption. Optimal EV policy is nuanced. While EVs driven in some locations reduce pollution, they increase pollution in others. While many consumers enjoy cost savings from EVs, some experience net benefits from choosing gasoline-powered cars, even after accounting for EV subsidies. And depending on the dynamic benefits of stimulating EV adoption today, optimal policy might front-load stimulus, even though the environmental benefits of EV adoption are likely to increase over time as electricity grids become cleaner. Reflecting these nuances, the policy landscape is complicated and often creates conflicting incentives for EV adoption in regions with ambitious adoption goals. We highlight several themes for policy design, including 1) promoting regional variation in EV policies that align private incentives with social benefits, 2) pursuing a time-path of policies that follows the trajectory of marginal benefits, and 3) rationalizing electricity and gasoline prices to reflect their social marginal cost. On the extensive margin, purchase incentives should ramp-down as learning-by-doing and network externalities that may exist diminish; on the intensive margin, gasoline should become relative more expensive than electricity (per mile traveled) to reflect cleaner marginal emissions from electricity generation. |
| JEL: | Q54 Q55 Q58 R4 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29093&r= |
| By: | De Bandt Olivier; Jacolin Luc; Lemaire Thibault |
| Abstract: | Using panel data covering 126 low- and middle-income countries over 1960-2017, we find that sustained positive temperature deviations from their historical norms have a non-linear negative effect on economic growth and growth per capita. A sustained 1°C temperature increase lowers real GDP per capita annual growth by 0.74–1.52 percentage points, irrespective of levels of development. We also find that temperature rise affects the households’ intertemporal trade-off between consumption and investment, since the share of private consumption in total value-added increases while the share of investment declines. A sectoral decomposition shows that the share of industrial value-added also declines. While the share of agricultural value-added increases, agricultural output and productivity declines. Taken together, our results suggest that global warming will reinforce development traps, hindering further adaptation to climate change, particularly in the countries with the lowest levels of income given their lower resilience and higher socioeconomic vulnerability. |
| Keywords: | Climate Change, Economic Growth, Adaptation, Developing Countries |
| JEL: | C33 E20 O11 O13 Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:banfra:822&r= |
| By: | Delzeit, Ruth; Heimann, Tobias; Schünemann, Franziska; Söder, Mareike |
| Abstract: | The replacement of fossil resources with renewable biomass in a bioeconomy is seen as a major contribution to climate change mitigation. This transformation will affect all members of society, making it crucial to consider the views of different stakeholders to ensure a socially acceptable transition towards a sustainable bioeconomy. To explore potential outcomes of bioeconomy strategies assuming different future pathways, a scenario analysis is a tool to inform decision-makers about policy impacts and trade-offs. The inter- and transdisciplinary research project 'BioNex - The future of the biomass nexus' is the first project to develop bioeconomy scenarios together with stakeholders from politics, industry, and civil society in an iterative co-design process. As a result, three storylines describing diverging potential global futures are developed and quantified: Towards sustainability, business as usual, and towards resource depletion. The futures are driven by different assumptions on climate policy, cropland expansion, productivity growth in agriculture, prices of fossil energy, and consumption behaviour. Additionally, in the co-design process, three bioeconomy policies are developed: policy as usual, stronger development of the bioeconomy, and no policies. Besides presenting the results of the stakeholder workshops, this paper evaluates the strengths and shortcomings of a stakeholder approach in terms of policy-oriented research. According to the experience made within this study, it provides valuable insights for researchers and funding authorities they can use to optimise the employment of stakeholder-based research approaches. |
| Keywords: | Co-design,scenario analysis,bioeconomy,modelling framework |
| JEL: | Q16 C83 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkwp:2188&r= |
| By: | Isaksen, Elisabeth; Johansen, Bjørn G. |
| Abstract: | This paper shows that differentiating driving costs by time of day and vehicle type help improve urban air quality, lower driving, and induce adoption of electric vehicles. By taking advantage of a congestion charge that imposed spatial and temporal variation in the cost of driving a conventional vehicle, we find that economic incentives lower traffic and concentrations of NO2. Exploiting a novel dataset on car ownership, we find that households exposed to congestion charging on their way to work were more likely to adopt an electric vehicle. We document strong heterogeneous patterns of electric vehicle adoption along several socioeconomic dimensions, including household type, income, age, education, work distance and public transit quality. |
| Keywords: | air pollution; electric vehicles; transportation policies; congestion charging; Centre for Climate Change Economics and Policy; 267942; 302059; 295789 |
| JEL: | C33 H23 Q53 Q55 Q58 R41 R48 |
| Date: | 2021–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111493&r= |
| By: | Khalifa, Sherin; Petri, Svetlana; Henning, Christian H. C. A. |
| Abstract: | This paper provides an analysis of the impact of extraordinary climate shocks on the incidence of civil conflict using cross-country panel data from Africa and the Middle East (1981 to 2015). We find that: (i) The estimated impact of climate shocks (mainly temperature effect) on economic growth rate and domestic food production ranges from 3 to 5% compared to the estimated impact of temperature growth 47%. (ii) We identified a direct impact of climate shocks on the incidence of civil conflict, where this impact is similar in magnitude to the negative impact of rainfall growth on conflict (3-4%). (iii) We confirmed the negative link between conflict and both economic indicators, conflict begets next conflict, the positive impact of good governance and polity IV estimates, and the freshwater availability on reducing the risk of conflict. Concluding that the main effect of climate comes from the temperature growth effects and it is not extreme shocks that drive economic declines, which indicates that the climate rather operates in a non-linear process. |
| Keywords: | Climate shocks,civil conflict,economic development |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cauapw:wp202004&r= |
| By: | Baer, Moritz; Campiglio, Emanuele; Deyris, Jérôme |
| Abstract: | This article studies how institutional dynamics might affect the implementation of climate-related financial policies. First, we propose a three-dimensional framework to distinguish: i) motives for policy implementation (prudential or promotional); ii) policy instruments (informational, incentive or coercive); and iii) implementing authorities (political or delegated). Second, we use this framework to show how sustainable financial interventions in certain jurisdictions - most notably, Europe - rely solely on informational policies to achieve both promotional and prudential objectives. Policymakers in other jurisdictions - e.g., China - also implement incentive or coercive financial policies to achieve promotional objectives. Third, we identify two main institutional explanations for this European ‘promotional gap’: i) limited control of political authorities on financial dynamics; and ii) strong powers and independence of delegated authorities. This governance configuration leads to an institutional deadlock in which only measures fitting with both political and delegated authorities’ objectives can be implemented. Finally, we discuss the scenarios that might originate from the current institutional setting. We identify three possible evolutionary paths: i) a drift towards a green financial technocracy; ii) a re-politicization of delegated authorities; iii) a move towards fiscal-monetary coordination. |
| Keywords: | sustainable finance; climate change; low-carbon transition; central banks; financial supervisors; delegation; Centre for Climate Change Economics and Policy; 853050 |
| JEL: | E44 E58 G28 G18 G14 |
| Date: | 2021–04–22 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111492&r= |
| By: | Lyu, Chenyan (Copenhagen School of Energy Infrastructure, Department of Economics, Copenhagen Business School) |
| Abstract: | China accounts for the largest share of the world’s total greenhouse gas emissions. The scale and growth of industrial activities and energy consumption in China explain the high level of emissions. Achieving “carbon neutrality” through administrative means can be effective but also costly and inefficient. The emission trading scheme is a way to put a price on carbon. The absence of such a mechanism could let low efficiency continue, delay the adoption of clean energy practices, risk a shortage of energy, and even allow corruption in regulation of emissions. In 2013, the government introduced pilot emission trading schemes; and a national ETS, which has started trading since June 2021, is becoming the world’s largest carbon market. This paper focuses on the fragmentation of and integration levels within China’s regional Emission Trading Schemes (ETSs) and the potential models the regional schemes — in Beijing, Shanghai, Shenzhen, Hubei, and Guangdong — offer for national effectiveness. The empirical results from this study suggest the general low level of co-integration in China’s ETS pilots within the sample period may be due to the different economic development levels, energy structures, and degrees of government supervision in each pilot as well as different choices of sector coverage and market threshold in regional ETSs. As the national ETS is at a key stage of construction, greater attention should be paid to exploring reasons for differences among the regional pilot carbon markets, to improve market mechanisms. |
| Keywords: | Carbon markets; China’s regional emissions trading; Emission allowances; Market architecture; Cointegration |
| JEL: | C32 E44 Q43 R11 |
| Date: | 2021–08–05 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cbsnow:2021_013&r= |
| By: | Maximilian Konradt (IHEID, Graduate Institute of International and Development Studies, Geneva); Beatrice Weder di Mauro (IHEID, Graduate Institute of International and Development Studies, Geneva) |
| Abstract: | What is the effect of climate policies on inflation and economic activity? Answering this question is critical for central banks trying to achieve price stability. This paper studies the experience from existing carbon taxes in Canada and Europe, introduced over the last 30 years. Based on two separate empirical approaches, we find that carbon taxes do not have to be inflationary and may even have deflationary effects. In particular, our evidence suggests that the increase in energy prices was more than offset by a fall in the prices of services and other non-tradables. Our results are robust for Europe and Canada, as well as a number of different country groupings. At least in case of British Columbia, a contraction in household incomes and expenditures, in particular among the richer households, could explain the deflationary effect. |
| Keywords: | Carbon taxes; carbon pricing; inflation; monetary policy; climate change |
| JEL: | E31 E50 Q54 Q43 |
| Date: | 2021–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:gii:giihei:heidwp17-2021&r= |
| By: | Sébastien Duchêne (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - 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); Adrien Nguyen-Huu (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - 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, Chaire Energie & Prospérité - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - X - École polytechnique - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Institut Louis Bachelier); Dimitri Dubois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - 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); Marc Willinger (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - 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) |
| Abstract: | We assess the impact of environmental externalities on portfolio decisions in a lab-inthe-field experiment on finance professionals and students. Subjects show pro-environmental preferences, with a strong asymmetry because of the sign of the externality. They are prone to accept lower return for positive environmental impact, but not to bear increased risk. Finance professionals are more pro-environmental than students, particularly regarding negative externalities, and less influenced by a ranking signal about environmental performance. Additional control tasks show that pro-social and pro-environmental preferences have much less influence on portfolio composition than market practices for finance professionals, but they are significant predictors for students. |
| Abstract: | Nous évaluons l'impact d'externalités environnementales sur les décisions de portefeuille dans le cadre d'une expérience en laboratoire sur des professionnels de la finance et des étudiants. Les sujets exhibent des préférences pro-environnementales, avec une forte asymétrie due au signe de l'externalité. Ils sont enclins à accepter un rendement inférieur pour un impact environnemental positif, mais pas à supporter un risque accru. Les professionnels de la finance sont plus pro-environnementaux que les étudiants, notamment en ce qui concerne les externalités négatives, et moins influencés par un signal de rang concernant la performance environnementale. Des tâches de contrôle supplémentaires montrent que les préférences pro-sociales et pro-environnementales ont beaucoup moins d'influence sur la composition du portefeuille que les pratiques de marché pour les professionnels de la finance, mais qu'elles sont des prédicteurs significatifs pour les étudiants. |
| Date: | 2021–07–13 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03285376&r= |
| By: | Piergiorgio Alessandri; Haroon Mumtaz |
| Abstract: | We study the impact of climate volatility on economic growth exploiting data on 133 countries between 1960 and 2005. We show that the conditional (ex-ante) volatility of annual temperatures increased steadily over time, rendering climate conditions less predictable across countries, with important implications for growth. Controlling for concomitant changes in temperatures, a +1oC increase in temperature volatility causes on average a 0.9 percent decline in GDP growth and a 1.3 percent increase in the volatility of GDP. Unlike changes in average temperatures, changes in temperature volatility affect both rich and poor countries. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2108.01617&r= |
| By: | Faria, Joao Ricardo; McAdam, Peter; Viscolani, Bruno |
| Abstract: | We study the interaction between monetary and fiscal policies in a Ramsey-Sidrauski model augmented with environmental capital. Equilibrium solutions are studied through the “Green Golden Rule”. Despite the non-separability of money in utility and intertemporally non-separable preferences, money is environmentally neutral. Policy impacts the environment via the marginal rate of transformation rather than the marginal rate of substitution between consumption and environment. Fiscal policies, lump sum and distortionary, under a balanced budget, are also environmentally non-neutral. Only under a non-balanced budget, when deficits are monetized, is money environmentally non-neutral. In alternative approaches (Cash-in-Advance, Transactions Costs), money is environmentally non-neutral. JEL Classification: E52, E62, H23 |
| Keywords: | cash in advance, Chichilnisky et al. conjecture, environmental capital, Friedman rule, green golden rule, Ramsey-Sidrauski, transactions costs |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20212573&r= |
| By: | Khalifa, Sherin; Henning, Christian H. C. A. |
| Abstract: | In this paper, the mechanisms of climate change impacts on the incidence of civil conflict are tested separately in Sub-Saharan Africa (SSA) compared to the Middle East and North Africa (MENA) for the period 1981 to 2015. We draw several conclusions: (i) Climate has a significant impact on economic development, through economic growth rate in the MENA, and food production in SSA. (ii) Economic growth rate and food production index are significant indicators for social stability reduce the risk of civil conflict, in SSA and MENA, respectively. (iii) A direct impact of climate change on civil conflict is identified. (iv) Conflict in the previous year increases the probability of civil conflict in SSA by 0.30 pp, and in the MENA by 0.50 pp. Moreover, as the type of political system and accountability are important control variables in SSA, water availability reduces the risks of conflict in the MENA region. However, there appears to be evidence of different mechanisms in different regions. However, the identification of stable mechanisms needs to be precisely addressed in future work. |
| Keywords: | Climate impact mechanisms,conflict,economic development,MENA,SSA |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cauapw:wp202003&r= |
| By: | Hochman, Gal; Zhang, Hainan; Xia, Lili; Robock, Alan; Aleti, Saketh; van der Mensbrugghe, Dominique Y.; Jagermeyr, Jonas |
| Abstract: | A nuclear war using less than 1% of the current global nuclear arsenal could produce climate change unprecedented in recorded human history and large impacts on agricultural productivity. These e↵ects would be most severe for the first five years after the nuclear war and may last for more than a decade. This paper calculates how the price and availability of food worldwide would change by employing the Environmental Impact and Sustainability Applied General Equilibrium model. It evaluates how results depend on assumptions about how free trade would continue in a post-war economic environment. The results suggest that preserving the world trading system is key to preventing widespread food shortages as a thriving world trading system minimizes the costs born from disruptions to climate. The analysis shows that the regional nuclear war scenario would a↵ect regional food supply systems, especially in high latitude regions. Although the global average impact on wheat is only a few percentage points, the regional nuclear war leads wheat production in EU 28 countries to plumed, on average, by more than 15%. The model also suggests that regional impacts may result in a plausible domino e↵ect with substantial negative ramifications for local food supplies. |
| Keywords: | Agricultural and Food Policy, Environmental Economics and Policy, International Relations/Trade |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:313021&r= |
| By: | Macaire Camille,; Naef Alain. |
| Abstract: | In June 2018, the People’s Bank of China (PBoC) decided to include green financial bonds into the pool of assets eligible as collateral for its Medium Term Lending Facility. The PBoC also gave green financial bonds a “first-among-equals” status. We measure the impact of the policy on the yield spread between green and non-green bonds. We show that pre-reform trends are minor, meaning that both green and non-green bonds yields evolved similarily at the time of the reform. Using a difference-in-differences approach, we show that the policy increased the spread by 46 basis points. Our approach differs from the literature in that we match bonds under review with non-green bonds with similar characteristics and issued by the same firm, which improves the relevance of firm fixed-effects. We also specifically investigate the impact on green bonds. The granularity of the data (daily) also allows us to conduct a dynamic analysis by dividing the sample into weekly, monthly and quarterly observations. Our results also show that the impact of the reform starts to materialize after three weeks, has a maximum effect after three months, and has a persistent effect over six months. |
| Keywords: | People’s Bank of China, Central Bank Collateral Framework, Green Bonds, Bond Yields, Greenium. |
| JEL: | E52 E58 Q51 Q54 G12 G18 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:banfra:812&r= |
| By: | Fukushige, Tatsuya; Fitch, Dillon; Handy, Susan |
| Abstract: | Dock-less, electric bike-share services offer cities a new transportation option with the potential to improve environmental, social, and health outcomes by increasing physical activity and reducing vehicle miles traveled (VMT) and related greenhouse gas emissions. But these benefits accrue only if bike-share use replaces car travel. If bikeshare pulls users from public transit, personal bikes, or walking, the benefits will be limited. Little is known about the factors influencing whether bike-share substitutes for driving. Understanding the degree to which and under what circumstances bike-share use reduces car travel can inform cities’ efforts to meet VMT reduction goals set under California’s Sustainable Communities and Climate Protection Act of 2008 (Senate Bill 375). Researchers at the University of California, Davis collected user surveys and system-wide trip data from a Sacramentoarea dockless e-bike-share program in 2018 and 2019 to examine factors influencing travel mode substitution and estimated system-wide VMT reductions caused by bikeshare use. They developed a model to examine factors influencing bike-share demand and estimated potential VMT reductions for hypothetical expanded service scenarios. |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2021–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt18q404xb&r= |
| By: | Afridi, Farzana (Indian Statistical Institute); Mahajan, Kanika (Ashoka University); Sangwan, Nikita (Indian Statistical Institute) |
| Abstract: | Climate change has increased rainfall uncertainty, leading to greater production risks in agriculture. We examine the gender-differentiated labor impacts of droughts resulting from lower precipitation using unique individual-level panel data for agricultural households in India over half a decade. Accounting for unobserved heterogeneity in individual responses, we find that women's workdays fall by 11% more than men's when a drought occurs, driven by former's lack of diversification to the non-farm sector. Women are less likely to work outside their village and migrate relative to men in response to droughts, and are consequently unable to cope fully with the adverse agricultural productivity shock. Our findings can be explained by social costs emanating from gender norms that constrain women's access to non-farm work opportunities. The results highlight the gendered impact of climate change, potentially exacerbating extant gender gaps in the labor market. |
| Keywords: | climate, drought, agriculture, labor, gender |
| JEL: | Q54 J16 J43 J60 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14568&r= |
| By: | Mathithibane, Mpho Steve |
| Abstract: | This paper investigates the effect of Foreign Direct Investment (FDI) on the growth of agricultural insurance markets for low-income farmers in Southern Africa for the period 2010 to 2020. Agricultural insurance products for low-income farmers are typically based on weather index insurance contracts. These insurance contracts are cost-effective responses to uninsured agricultural risk in developing economies, and are often considered part of effective ex-ante climate change adaptation strategies. The approach followed in this paper is to assess the extent of FDI transactional flows based on a literature review of past and present pilots as well as market-based weather index insurance schemes. The findings revealed that FDI is relatively low to support weather index insurance development and there exists massive scale for expansion and economic growth opportunities. The study advocates for an improved policy environment with a focus on increasing agricultural productivity among low-income farmers while promoting parallel climate change mitigation strategies, this is likely to have spill-over effects on the acceleration and development of appropriate insurance solutions. |
| Keywords: | Foreign Direct Investment, weather index insurance, Southern African Development Community, Southern African. |
| JEL: | Q14 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108890&r= |
| By: | Jonathan Colmer; Dajun Lin; Siying Liu; Jay Shimshack |
| Abstract: | Conventional wisdom suggests that marginal damages from particulate matter pollution are high in less-developed countries because they are highly polluted. Using administrative data on the universe of births and deaths, we explore birthweight and mortality effects of gestational particulate matter exposure in high-pollution yet high-income Hong Kong. The marginal effects of particulates on birthweight are large but we fail to detect an effect on neonatal mortality. We interpret our stark mortality results in a comparative analysis of pollution-mortality relationships across studies. We provide early evidence that marginal mortality damages from pollution are high in less-developed countries because they are less developed, not because they are more polluted. |
| JEL: | Q53 I15 Q56 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9206&r= |
| By: | Mehryar, Sara; Sasson, Idan; Surminski, Swenja |
| Abstract: | Cities are emerging as leading forces for climate change adaptation and resilience due to their financial, technological, and human capacities. Many approaches and tools have been developed and used over the last decades to measure climate resilience in cities and identify areas that need further intervention. In this study, we explore how and to what extent such tools can be or have been utilized by city-level actors to support their decision-making process for building climate resilience. To do this, we applied a document analysis of 27 tools developed for measuring urban climate resilience and supplemented it with 12 semi-structured interviews with local experts involved in implementation of these tools across the world. Our analysis shows that only 10 of these tools are designed to support implementing resilience actions while the rest mainly focus on sharing knowledge and raising awareness. We also observed a prevailing focus on evaluating coping capacities (as opposed to adaptive and transformative capacities) of cities against climate risks in such tools, which tends to trigger short-term solutions rather than long-term transformational adaptation strategies. Therefore, we argue that urban climate resilience measurement tools need to 1) support action implementation processes as much as assessing outcomes, and 2) consider the enabling environment for enhancing adaptive and transformative capacities as much as coping capacities of cities. Finally, we explore challenges and opportunities of resilience measurement practices for decision-making drawn from end-users’ insights. |
| JEL: | R14 J01 |
| Date: | 2021–07–16 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111057&r= |
| By: | Domingo, Sonny N.; Umlas, Anna Jennifer L.; Zuluaga, Katrina Mae C. |
| Abstract: | This paper discusses collected data and initial results in developing the rapid climate decision analysis tool applicable to smallholder high value crop farming in Atok, Benguet. The excel-based tool harnesses the knowledge of farmers and agricultural extension workers and aims to aid them in decisionmaking. Information gathered are yields, production costs and prices by crop, season and amount of rainfall. <p>The paper is part of the project titled, "Action ready climate knowledge to improve disaster risk management for smallholder farmers in the Philippines" that explores, among others, the context faced by farmers in making farm decisions, particularly those that are influenced by weather and climate information. |
| Keywords: | agriculture, climate information, weather information, smallholder farming, decision analysis, Rapid Climate Decision Analysis Tool |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2020-12&r= |
| By: | Spackman, Michael |
| Abstract: | There has been a forty-year divide in economics on the relevance to public funding of the equity premium (in particular, today, the consumption CAPM). The costs and benefits of public spending are often correlated with income, but conventional neoclassical analysis, applied by many governments, suggests that the cost of this systematic risk in publicly funded activities is usually trivial. On the other hand, it is often asserted that equity market premiums, which are very much higher than would be estimated from neoclassical analysis (the equity premium ‘puzzle’), should apply also to public funding. This paper, which aims largely to help government administrations, assembles a picture of the evolving research on and understanding of the premium. Public funding does incur social costs arising from the associated tax burden. There is, however, no evidence to support assertions that the equity risk premium anomaly is relevant to public funding. In any case, the cost of systematic risk in the benefits of public funding does not fall as an annual percentage rate to financiers, but as an absolute cost to public service beneficiaries. |
| Keywords: | climate change legislation; climate policy; carbon leakage; pollution havens; production emissions; consumption emissions; Centre for Climate Change Economics and Policy |
| JEL: | N0 E6 |
| Date: | 2021–07–28 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111488&r= |
| By: | Adjin, K. Christophe; Henning, Christian H. C. A. |
| Abstract: | This paper aimed to analyse Senegalese farmers' technical efficiency in the context of climate variability and spatial heterogeneity. To achieve this, firstly using simulated data, we evaluated the newly developed spatial stochastic frontier estimation technique based on skew-normal distributions. Secondly, using cross-sectional survey data we conducted an empirical analysis for 4423 Senegalese farm households. Simulation results show that the estimation approach used is appropriate and produces consistent results with large sample sizes, although it might suffer from a "starting values" problem. Empirical findings reveal that agricultural production in Senegal mostly depends on the allocated area and it is highly affected by climatic factors such as rainfall and temperature. Moreover, within a radius of 4 km, the technical efficiency of farms appears to be significantly affected by unobserved spatial features. Furthermore, this farm's technical efficiency can on average be increased by 20%, when accounting for spatial heterogeneity. |
| Keywords: | Climate variability,Farm efficiency,Spatial heterogeneity,Senegal |
| JEL: | Q54 C21 D24 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cauapw:wp202009&r= |
| By: | Bernardo Melo Pimentel (NOVA SBE - NOVA - School of Business and Economics - NOVA - Universidade Nova de Lisboa = NOVA University Lisbon, ISEG - ISEG-Lisbon School of Economics and Management - University of Lisbon); Guillermo Ramírez (ESCP Europe - Ecole Supérieure de Commerce de Paris) |
| Abstract: | We describe how Sustainable Finance is understood in the European context, its current state, and its outlook. We argue that while the framework currently being developed to standardize our understanding of sustainable investments is absolutely necessary, it is also crucial for concrete laws and regulations to be created to incentivize actors in the financial markets to redirect funds from non-sustainable investments to sustainable alternatives. |
| Date: | 2021–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03286596&r= |
| By: | International Monetary Fund |
| Abstract: | Dominica is among the countries most vulnerable to natural disasters and climate change. During 1997-2017, it was the country with highest GDP losses to climate-related natural disasters and ranked in the top 10 percent among 182 countries for climate-related fatalities. Following a huge devastation, owing to back-to-back major storms in 2015 and 2017, Dominica announced its intention to become the first disaster resilient nation. In 2019, it was agreed with the government that the Fund, in consultation and collaboration with other development partners, would provide support for preparing a Disaster Resilience Strategy (DRS), a comprehensive plan including policies, cost, and financing to build resilience against natural disasters. |
| Date: | 2021–08–11 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2021/182&r= |
| By: | Dipanwita Pal (Galsi Mahavidyalaya, West Bengal, India) |
| Abstract: | Ecocriticism is, as put forward by Diamond and Orenstein, ‘a new term for ancient wisdom’. It is a value system that explores the connections between androcentrism and environmental destruction. The theory emerged from various social movements, from both activist and academic fields during the 1980s. Ecofeminism, as a movement, developed from antimilitarist action movement in the United States while founding a political platform for the US Green party. The term was first used by Francoise D’Eaubonne (1980) in her article “Feminism or Death.†From the mid-1970s, ecological critique turned to play a significant role in the women’s movements worldwide. |
| Keywords: | ecofeminism, value dualism, androcentrism, gender inequalities |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:smo:scmowp:01244&r= |
| By: | Nicholas Ryan (Cowles Foundation, Yale University) |
| Abstract: | Green energy is produced by relationship-speciï¬ c assets that are vulnerable to hold-up if contracts are not strictly enforced. I study the role of counterparty risk in the procurement of green energy using data on the universe of solar procurement auctions in India. The Indian context allows clean estimates of how risk affects procurement, because solar power plants set up in the same states, by the same ï¬ rms, are procured in auctions variously intermediated by either risky states themselves or the central government. I ï¬ nd that: (i) the counterparty risk of an average state increases solar energy prices by 10%; (ii) the intermediation of the central government eliminates this risk premium; (iii) higher prices due to risk reduce investment, because state demand for green energy is elastic. The results suggest that the risk of hold-up places developing countries at a disadvantage in the procurement of green energy. |
| JEL: | L14 O13 Q42 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:cwl:cwldpp:2294&r= |
| By: | S. Snapp (Michigan State University [East Lansing] - Michigan State University System); Yodit Kebede (UMR Eco&Sols - Ecologie fonctionnelle et biogéochimie des sols et des agro-écosystèmes - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - 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, CIAT - International Center for Tropical Agriculture [Colombie] - Consultative Group on International Agricultural Research [CGIAR]); Eva Wollenberg (University of Vermont [Burlington]); K.M. Dittmer (CIAT - International Center for Tropical Agriculture [Colombie] - Consultative Group on International Agricultural Research [CGIAR]); S. Brickman (University of Vermont [Burlington]); C. Egler (University of Vermont [Burlington]); S. Shelton (University of Vermont [Burlington]) |
| Abstract: | Agroecology is increasingly seen as being able, or even necessary, to transform food systems (HLPE 2019). The Foreign, Commonwealth and Development Office (FCDO) and the CGIAR Research Programme on Climate Change, Agriculture and Food Security (CCAFS) commissioned this rapid evidence-based review to assess the quality and strength of evidence regarding (i) the impact of agroecological approaches on climate change mitigation and adaptation in low- and middle-income countries (LMICs) and (ii) the programming approaches and conditions supporting large-scale transitions to agroecology and transitions. The review also aims to identify knowledge gaps critical to understand and inform future public and private investment in research, development, and deployment of agroecological approaches. The focus here is on the science of agroecology at the field and landscape level, not on social movement, value chain or business aspects. We use the Food and Agriculture Organization of the United Nations (FAO) 10 elements of agroecology with the Gliessman (2016) framework to identify agroecology practices (transition level 2) and agroecology systems (transition level 3). To assess evidence related to agroecology's climate change outcomes we conducted a systematic literature review of i) synthesis papers and ii) primary empirical studies related to nutrient and pest and disease management. For the latter we documented the presence of evidence for climate change outcome indicators, but not the magnitude or direction of the change. We also conducted semi-structured interviews with representatives from 12 organisations supporting or implementing on-the-ground agricultural development programmes to better understand the feasibility of scaling out agroecology. |
| Keywords: | MONDE |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03278936&r= |
| By: | David Friederich; Lynn H. Kaack; Alexandra Luccioni; Bjarne Steffen |
| Abstract: | It is important for policymakers to understand which financial policies are effective in increasing climate risk disclosure in corporate reporting. We use machine learning to automatically identify disclosures of five different types of climate-related risks. For this purpose, we have created a dataset of over 120 manually-annotated annual reports by European firms. Applying our approach to reporting of 337 firms over the last 20 years, we find that risk disclosure is increasing. Disclosure of transition risks grows more dynamically than physical risks, and there are marked differences across industries. Country-specific dynamics indicate that regulatory environments potentially have an important role to play for increasing disclosure. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2108.01415&r= |
| By: | Khalifa, Sherin; Henning, Christian H. C. A. |
| Abstract: | We replicated the findings of Miguel and his co-authors, who find a significant negative relationship between economic shocks and the likelihood of civil conflict in Sub-Saharan Africa (SSA) for the period 1981- 1999, using rainfall growth as an instrumental variable for the economic growth rate. The replication of this study is successfully performed. Furthermore, we apply a robustness test to the results using new cross-country panel data, with different measurements, and econometric specifications. The results appear to be sensitive to changes in data sources that use different methods of making the data available, although we find partly the same patterns between weather and economic growth rate, and between the income growth and the likelihood of civil conflict, like Miguel et al. (2004) for SSA period 1981-1999. |
| Keywords: | Rainfall,economic growth rate,conflict,Sub-Saharan Africa |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cauapw:wp202002&r= |
| By: | Chlond, Bettina; Gavard, Claire; Jeuck, Lisa |
| Abstract: | In the context of tight public budgets and increasingly ambitious climate objectives, the performance of the support policies for residential energy conservation works needs to be assessed. We compare the performance of four types of support schemes in France, namely the income tax credit, a grant scheme, the reduction of the value-added tax, and the White Certificates scheme. The analysis employs a dataset covering close to 14,000 French households who conducted conservation works in France. To address self-selection bias and potential endogeneity concerns, we use a double-robust inverse probability weighting estimator, a method mostly used in epidemiology so far. We assess the effect of the adoption of each scheme on the funding acquired, the private investment, total investment and the reduction of the household energy expenses. We deduct metrics of cost-effectiveness, redistribution and the ability to trigger private investment and additional total investment in energy conservation works via the schemes. We find funding from the schemes to reduce energy expenses most cost-effectively via the White Certificates. Additional private and total investment is highest with the adoption of the VAT reduction. The redistribution of public funds to low-income households is highest with the grant scheme. |
| Keywords: | Energy efficiency,energy conservation,residential retrofits,cost-effectiveness,re-distribution,inverse probability weighting |
| JEL: | H23 Q58 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:21056&r= |
| By: | Khalifa, Sherin; Petri, Svetlana; Henning, Christian H. C. A. |
| Abstract: | Based on the analysis of a new cross-country panel data from Africa and the Middle East for the time period between 1981 and 2015, we show that reductions in per capita income growth rate or domestic food production induced by climate variation significantly increase the probability of civil conflict. A 10% reduction in economic growth or domestic food production leads to a 1.25% and 1.59% increase in the likelihood of civil conflict, respectively. Furthermore, we identify a direct link of climate on the incidence of civil conflict. Additionally, the level of democracy and good governance are good control variables. Regarding the Syrian conflict, when considering 2010 data, the increase in temperature growth explains around 30% of falling income growth as well as 85% of the shrinking food production index and in this way contributed to the onset of war. We explain the probability of ongoing conflict by 43-56%. The two strongest factors explaining the conflict are lagged conflicts and economic development. Adequate economic policies that are able to accelerate economic development, play a role in peace, and avoiding new conflicts. |
| Keywords: | Climate variation,economic growth rate,food production index,civil war |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cauapw:wp202001&r= |
| By: | Ge-zhi Wu; Da-ming You |
| Abstract: | This paper uses the panel data of Chinese listed companies from 2007 to 2019, uses the relaxation of China's margin trading and Short-Selling restrictions as the basis of quasi experimental research, and then constructs a double difference model to analyze whether the margin trading and Short-Selling will encourage enterprises to engage in green technology innovation activities. Firstly, our research results show that after the implementation of the margin trading and Short-Selling, the green technology innovation behavior of pilot companies will increase significantly. We believe that the short selling threat and pressure brought by short selling to enterprises are the main reasons for pilot enterprises to engage in green technology innovation. Secondly, the empirical results show that the implementation of margin trading and Short-Selling restrictions will significantly promote the number of green technology innovation of pilot enterprises, but will not promote the quality of green technology innovation of pilot enterprises. Furthermore, we analyze the difference of the impact of margin trading and Short-Selling restrictions on the number of green technology innovation of pilot enterprises in different periods. Finally, we find that the yield gap between financial assets and operating assets, the risk of stock price decline, management shareholding, institutional shareholding ratio, weak product market competition and bull market will affect the role of short selling in promoting green technology innovation of pilot enterprises. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2107.11255&r= |
| By: | Laurent CLERC,; Anne-Lise BONTEMPS-CHANEL,; Sébastien DIOT,; George OVERTON,; Solène SOARES DE ALBERGARIA,; Lucas VERNET,; Maxime LOUARDI. |
| Abstract: | L’exercice pilote climatique conduit par l’ACPR est inédit. C’est en effet la première fois qu’un superviseur organise avec les groupes bancaires et organismes d’assurance placés sous sa responsabilité un exercice d’évaluation des risques associés au changement climatique aussi complet et exigeant. Son caractère inédit et ambitieux réside dans l’horizon sur lequel les risques sont évalués (30 ans), les méthodologies employées (analyse de scénarios déclinés au niveau des secteurs économiques), ses hypothèses novatrices (notamment de bilan dynamique), sa couverture des risques physique et de transition, enfin, le fait que les institutions participantes évaluent directement leurs risques sur la base d’hypothèses communes. Il illustre le rôle moteur joué par les autorités et la place financière de Paris et les progrès accomplis dans la lutte contre le dérèglement climatique, depuis l’adoption de la Loi sur la transition énergétique et la croissance verte et la signature de l’Accord de Paris en 2015. |
| Keywords: | Changement climatique ; prix du carbone ; projections à long terme ; régulation bancaire ; scénarios ; tests de résistance. |
| JEL: | G21 G28 H23 Q48 Q54 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:analys:122&r= |
| By: | Tabios, Guillermo Q. III; de Leon, Tomas Paolo Z. |
| Abstract: | This study assesses the irrigation service areas of Angat-Maasim River Irrigation System (AMRIS) and Pampanga Delta Irrigation Systems (PDRIS) benchmarked against design area water availability, land use (including flood vulnerability), and status of irrigation facilities using resource assessment and watershed and irrigation modeling. The study finds that irrigation area of AMRIS fell below design area due to urbanization, lowered height of Bustos Dam, complicated by competing use of water for hydropower. Likewise, the PDRIS system only realized half of the target irrigation service area due to urbanization, flooding, and the low diversion dam height of Cong Dadong Dam. Among others, the study recommends conduct of periodic appraisal or assessment of the efficiency of irrigation water delivery operations through hydraulic model simulations to maintain and upgrade the irrigation facility as needed. |
| Keywords: | irrigation system, , irrigation water delivery operation, hydraulic model simulation |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2020-11&r= |
| By: | Nguyen Thang Dao |
| Abstract: | We set up a model with intergenerational bequest transfers and climate damage on the wealth of heterogeneous households. We show that, under credit market imperfections and depending on wealth distribution across households, a balanced budget climate policy may widen the wealth inequality gap between the rich and poor. Climate policy may create positive effects on the wealth of households, but these effects are asymmetric across households in terms of both magnitude and the transmission of gains from a climate policy within households. The gains of the poor from a climate policy are mainly transmitted into improving living standards and the investment in human capital due to the higher marginal return to education investment. By contrast, the gains of the rich from a climate policy are transmitted biasedly into physical capital accumulation and thereby enhance their monopolistic position in the production of intermediate inputs. We show that, for any climate policy, there exists a corresponding threshold of aggregate physical capital. When the aggregate physical capital of the economy exceeds this threshold, the corresponding climate policy may widen the intergenerational bequest transfers among heterogeneous households, thereby contributing to widening the wealth inequality gap between the rich and poor in the long run. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:dpr:wpaper:1139&r= |
| By: | Caroline Orset (Université Paris-Saclay, ECO-PUB - Economie Publique - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CEC - Chaire Economie du Climat - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres) |
| Abstract: | Despite several financial aids intended to promote the energy transition, the French people continue to buy energy-intensive products and are not interested in improving the energy performance of their homes. We propose a new measure which consists of provision of information to change individual behaviour. Currently, health and the environment are the prime concerns and we propose to encourage individuals to reduce their energy consumption by informing them of the environmental and health consequences linked to energy consumption. To test the validity of our proposal, we use the willingness to pay for more energy efficient equipment and thermal insulation. We conducted an online survey which included messages on the link between environment-energy and health-energy. We showed that it affected households' energy behaviour. We compared this strategy with policies already in place. We found that policies that combined provision of information with a subsidy, increase sales of goods that reduce energy consumption and was the best option from a social welfare perspective. |
| Abstract: | Malgré plusieurs aides financières destinées à favoriser la transition énergétique, les Français continuent d'acheter des produits énergivores et ne sont pas intéressés par l'amélioration de la performance énergétique de leur logement. Nous proposons une nouvelle mesure qui consiste à fournir des informations pour changer le comportement individuel. Actuellement, la santé et l'environnement sont au cœur des préoccupations et nous proposons d'inciter les particuliers à réduire leur consommation d'énergie en les informant des conséquences environnementales et sanitaires liées à la consommation d'énergie. Pour tester la validité de notre proposition, nous utilisons le consentement à payer pour des équipements plus économes en énergie et une isolation thermique. Nous avons mené une enquête en ligne qui comprenait des messages sur le lien entre environnement-énergie et santé-énergie. Nous avons montré qu'elle affectait le comportement énergétique des ménages. Nous avons comparé cette stratégie avec les politiques déjà en place. Nous avons constaté que les politiques qui combinent information et subvention, augmentent les ventes de biens qui réduisent la consommation d'énergie et constituent la meilleure option du point de vue du bien-être social. |
| Keywords: | Health and environment,Energy policy,Energy efficiency,Consumer willingness to pay,Politique énergétique,Consentement à payer du consommateur,Efficacité Energétique,Santé et environnement |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03284569&r= |
| By: | Jens Abildtrup (INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Johanna Breyne (Université de Liège - Gembloux); Chaer Soraya |
| Date: | 2021–05–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03230012&r= |
| By: | Frank Geels (The Productivity Institute, Alliance Manchester Business School, The University of Manchester); Guillermo Ivan Pereira (The Productivity Institute, Alliance Manchester Business School, The University of Manchester); Jonatan Pinkse (The Productivity Institute, Alliance Manchester Business School, The University of Manchester) |
| Keywords: | green recovery, Covid-19 |
| URL: | http://d.repec.org/n?u=RePEc:anj:wpaper:004&r= |
| By: | Javier Aliaga Lordemann (Senior Associate Researcher at INESAD) |
| Abstract: | Common pool resources (CPRs) are usually exploited one generation after another – often overexploited - meaning there is an intergenerational link between the consumers – e.g., water for farming activities. This key dimension is often not considered in theoretical or field experiments, due to the difficultly in approaching it. We want to overcome this barrier introducing the hypothesis of ‘’intergenerational altruism” for CPRs. The implication is that altruism reduce the exploitation of the natural resources, since the agents recognize that the exploitation not only creates negative externalities for their own generation, but also for all future generations. An alternative hypothesis is the ‘’intergenerational equity’’ where the agents restrain their consumption to equalize their income over time. To prove these hypotheses, we conducted a field experiment in four farming communities located in the Bolivian Department of Chuquisaca during the third quarter of 2019. We consider common water for farming activities as a CPRs, since these communities use this resource for several decades, the intergenerational link is evident. Our intergenerational field experiment includes four treatments based on the replacement rate of the resources – i.e., FAST, SLOW, RESTART or normal replacement, under one-shot non-cooperative game without feedback. We also introduce two variations, the possibility to accumulate water in a dam, which modify the availability of CPRs. Second, the possibility to manage the common farming water through the traditional social arrangement of the Water Judge, which is a representative member of the community delegated to solve problems related with water management, named SAT treatment. The results showed that our hypothesis was not probed since the intergenerational link does not mitigate the overexploitation of CPRs. Nevertheless, we also found that the “Water Judge” could be a cost-effective treatment in small farming communities. |
| Keywords: | Common pool resources, intergenerational altruism and equity, free riders . |
| JEL: | C72 C92 D62 Q20 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:adv:wpaper:202101&r= |
| By: | Muriel Gilardone (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Ce papier est la cinquième et dernière contribution au projet scientifique interdisciplinaire porté par Marie Rota, visant à valoriser le rôle des plantes au travers du procédé de l'écriture. Il explore une façon de concevoir l'écriture des plantes invasives en économie depuis une perspective critique des approches standards, à partir d'une approche qui se situe au croisement de la philosophie du développement humain théorisé par Amartya Sen et de l'éthique permaculturelle initiée par Bill Mollison et David Holmgren. Il constituera une annexe du chapitre 5 de l'ouvrage à paraître aux éditions Le Bord de l'eau : Marie Rota (Ed.) (2021), Ecrire les plantes. Une approche interdisciplinaire. |
| Keywords: | développement humain,éthique permaculturelle,plantes invasives,écosystème,algues vertes,signal de rétroaction,pollution,conséquences non voulues,enquête,responsabilité,action publique |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03276679&r= |
| By: | Jorge H. Maldonado; Rocío del Pilar Moreno Sánchez; Myriam E. Vargas; Emilio Leguízamo |
| Abstract: | Las comunidades de pescadores artesanales en países en desarrollo generalmente exhiben altos niveles de pobreza y vulnerabilidad, y una fuerte dependencia de los recursos pesqueros para su subsistencia. Sin embargo, no existe suficiente información que permita entender las decisiones de producción y consumo de estos hogares. Este estudio contribuye a entender los medios de vida de pescadores localizados en la zona de influencia de un área marina protegida en el Caribe Colombiano, y a identificar cómo parámetros económicos clave afectan las decisiones de los hogares pescadores, incluyendo aquellas relacionadas con la pesca. Se propone un modelo de producción de hogares, donde ellos toman simultáneamente decisiones de producción y de consumo. La pesca juega un papel central en estas decisiones como fuente de ingreso y seguridad alimentaria. El modelo teórico se valida con información recogida cada mes durante un año en hogares pescadores en la comunidad de Barú, Colombia. El modelo permite simular los efectos de varias políticas sobre el uso y manejo de pesquerías artesanales y sobre el bienestar de los hogares pescadores. Los resultados ofrecen señales para el diseño de políticas que apunten tanto al uso sostenible de los recursos marinos como al desarrollo económico de las comunidades. |
| Keywords: | pesca artesanal; medios de vida de pescadores; conservación; uso sostenible;recursos marinos; Caribe Colombiano |
| JEL: | C63 C83 D13 J22 O13 Q22 Q56 Q57 |
| Date: | 2021–07–22 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019425&r= |
| By: | Andrés O. Dávila; Manuel Fernández; Hernando Zuleta |
| Abstract: | We study the effect of the upsurge of natural resources income from the commodity price boom of the 2000s on the functional distribution of income. To do so, we build a general equilibrium model of Dutch disease that characterizes how natural resource windfalls affect equilibrium factor shares. The theory suggests that the response of factor shares to exogenous changes in commodity prices depends on the relative intensity of factors in the tradable and natural resource sectors. We construct estimates of income shares accruing to raw labor, human capital, physical capital, and natural resources, and quantify the effect of the resource boom on factor shares. For identification, we use a two-way fixed effects strategy and a differential exposure design to instrument commodity prices. We find that a natural resource boom negatively impacts the total labor, human capital, and physical capital shares, while the raw labor share remains unchanged. Our estimates suggest that the natural resource boom explains nearly 25.7 percent of the global decline of the total labor share during the 2000s. We also find a redistribution effect within labor income that indicates that the fall of the labor share was unevenly distributed against human capital. |
| Keywords: | Labor Share, Factor Income Shares, Natural Resource Boom, Commodity Price Boom, Dutch Disease, Human Capital. |
| JEL: | D33 F14 J31 O13 |
| Date: | 2021–07–23 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019427&r= |
| By: | Singh, Radhika; Joshi, Shail |
| Abstract: | The Bundelkhand region in India has been dealing with a severe water crisis for the last two decades. This water crisis has received a significant amount of attention from the central government, media and academics. However, although multiple policies and acts have been passed, and extensive resources distributed, there has not been much improvement on the ground. This thesis analyzes the reasons behind ineffective water governance and implementation at all levels of government, and concludes that over-centralization of planning, crisis-response rather than long-term planning, and a lack of pragmatic planning are key to understanding the current situation. More generally, the disjointed nature of water governance in India has made it difficult for the public sector to carry out cohesive planning approaches. We suggest reforms that can be adopted, and consider the possible consequences to water management and planning if Bundelkhand were to become a separate state. |
| Keywords: | Bundelkhand, drought, water resource governance, water scarcity, agriculture, India, groundwater |
| JEL: | O13 O21 Q1 Q15 Q18 Q25 Q28 Q54 Q58 R5 R58 |
| Date: | 2020–05–19 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109067&r= |
| By: | Dávila, Andrés O. (Universidad de los Andes); Fernandez Sierra, Manuel (Universidad de los Andes); Zuleta, Hernando (Universidad de los Andes) |
| Abstract: | We study the effect of the upsurge of natural resources income from the commodity price boom of the 2000s on the functional distribution of income. To do so, we build a general equilibrium model of Dutch disease that characterizes how natural resource windfalls affect equilibrium factor shares. The theory suggests that the response of factor shares to exogenous changes in commodity prices depends on the relative intensity in which factors are used in the tradable and natural resource sectors. We construct estimates of income shares accruing to raw labor, human capital, physical capital, and natural resources, and quantify the effect of the resource boom on factor shares. For identification, we use a two-way fixed effects strategy and a differential exposure design to instrument commodity prices. We find that a natural resource boom negatively impacts the total labor, human capital, and physical capital shares, while the raw labor share remains unchanged. Our estimates suggest that the natural resource boom explains nearly 25.7 percent of the global decline of the total labor share during the 2000s. We also find a redistribution effect within labor income that indicates that the fall of the labor share was unevenly distributed against human capital. |
| Keywords: | labor share, factor income shares, natural resource boom, commodity price boom, dutch disease, human capital |
| JEL: | D33 F14 J31 O13 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14592&r= |
| By: | Tim Kautz; Kathleen Feeney; Hanley Chiang; Sarah Lauffer; Maria Bartlett; Charles Tilley |
| Abstract: | The District of Columbia Public Schools (DCPS) has prioritized efforts to support students' social and emotional learning (SEL) competencies, such as perseverance and social awareness. |
| Keywords: | rel, mid-atlantic, report, survey, social, emotional, learning, sel, school climate, decisionmaking; |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:34e434508fe24859b54434e73fc9fa81&r= |
| By: | Denis Dupré (STEEP - Sustainability transition, environment, economy and local policy - Inria Grenoble - Rhône-Alpes - Inria - Institut National de Recherche en Informatique et en Automatique - LJK - Laboratoire Jean Kuntzmann - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes) |
| Abstract: | The issues of private property and survival are intimately intertwined in Francis of Assisi's vision of the radical imagination as defined by Castoriadis. His concept of property pulverizes the classical usus fructus abusus and replaces it with charity. Today a pragmatic philosophical reading of Pope Francis' encyclical Laudate Si illuminates a very Franciscan approach to property. It is the analysis of the means of access to basic food for survival that has given rise to the concept of common goods, in the sense of Ostrom, defined by Polanyi: land, money and work. For today, and taking into account possible collapses, we think it is useful to rely on these approaches to reform our institutions and put them at the service of survival for all. |
| Abstract: | Les questions de la propriété privée et de la survie sont intimement mêlées chez François d'Assise en une vision qui témoigne de l'imagination radicale telle que définie par Castoriadis. Son concept de propriété pulvérise le classique usus fructus abusus et le remplace par la charité. Aujourd'hui une lecture philosophique pragmatique de l'encyclique Laudate Si du pape François éclaire une approche très franciscaine de la propriété. C'est l'analyse des moyens d'accès à la nourriture de base pour la survie qui a fait apparaitre le concept des biens communs, au sens d'Ostrom, définis par Polanyi : la terre, la monnaie et le travail. Pour aujourd'hui et en tenant compte des effondrements possibles, nous pensons utile de nous appuyer sur ces approches pour réformer nos institutions et les mettre au service de la survie pour tous. |
| Abstract: | Le questioni della proprietà privata e della sopravvivenza sono intimamente intrecciate nella visione di Francesco d'Assisi dell'immaginazione radicale come definita da Castoriadis. Il suo concetto di proprietà polverizza il classico usus fructus abususus e lo sostituisce con la carità. Oggi una lettura filosofica pragmatica dell'enciclica Laudato Si' di Papa Francesco illumina un approccio molto francescano alla proprietà. È l'analisi dei mezzi di accesso al cibo di base per la sopravvivenza che ha dato origine al concetto di beni comuni, nel senso di Ostrom, definito da Polanyi: terra, denaro e lavoro. Per oggi e tenendo conto dei possibili crolli, pensiamo che sia utile contare su questi approcci per riformare le nostre istituzioni e metterle al servizio della sopravvivenza di tutti. |
| Keywords: | radical imagination,environmental justice,Polanyi,Castoriadis,property,Francis of Assisi',pope Francis,common good,survival |
| Date: | 2021–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03279027&r= |
| By: | Muriel Gilardone (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Ce papier est la deuxième contribution au projet scientifique interdisciplinaire porté par Marie Rota, visant à valoriser le rôle des plantes au travers du procédé de l'écriture. Il explore une façon de concevoir l'écriture des graines en économie depuis une perspective critique des approches standards, à partir d'une approche qui se situe au croisement de la philosophie du développement humain théorisé par Amartya Sen et de l'éthique permaculturelle initiée par Bill Mollison et David Holmgren. Il constituera une annexe du chapitre 2 de l'ouvrage à paraître aux éditions Le Bord de l'eau : Marie Rota (Ed.) (2021), Ecrire les plantes. Une approche interdisciplinaire. |
| Keywords: | développement humain,éthique permaculturelle,économie des semences,modèle agricole,modèle de consommation durable,économie du partage,puissance d'agir |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03276541&r= |
| By: | Spackman, Michael |
| Abstract: | This paper is a contribution to the understanding and development of social discounting regimes. It first addresses three, often overlooked implications of how public funding differs from private financing by debt and equity. One implication is that the cost of systematic (income-correlated) risk in public service benefits does not fall as a rate of return, but as an absolute reduction in the value of the benefits. This is quantitatively important. Another is that, while ‘social opportunity cost’ discounting can for some governments be the best practicable option for most cost benefit analysis, it is unsuitable for other applications, which require lower rates. This can be handled by a hybrid regime. Third, with ‘social time preference’ discounting it is usually assumed that the cost of public funding should be handled by an explicit shadow price (≥1) for public spending. However a value-for-money approach, optimising spending from given, constrained budgets, is in important ways superior. The paper then examines US Federal and United Kingdom central government conventions, illustrating hybrid and value-for-money regimes, and also illustrating the difficulties of establishing and maintaining analytically rigorous social discounting procedures in practice. |
| Keywords: | Centre for Climate Change Economics and Policy |
| JEL: | F3 G3 E6 J1 |
| Date: | 2021–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:111490&r= |
| By: | Florjan Bombaj (UMR Innovation - Innovation et Développement dans l'Agriculture et l'Alimentation - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - 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) |
| Date: | 2019–10–23 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03277455&r= |
| By: | Muriel Gilardone (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Ce papier est la première contribution au projet scientifique interdisciplinaire porté par Marie Rota, visant à valoriser le rôle des plantes au travers du procédé de l'écriture. Il expose la perspective épistémologique du point de vue économiste qui sera proposé dans le cadre des différents ateliers de ce projet : une perspective critique de l'économie standard, et l'exploration d'une approche alternative au croisement de la philosophie du développement humain théorisé par Amartya Sen et de l'éthique permaculturelle initiée par Bill Mollison et David Holmgren. Il constituera une annexe du chapitre 1 de l'ouvrage à paraître aux éditions Le Bord de l'eau : Marie Rota (Ed.) (2021), Écrire les plantes. Une approche interdisciplinaire. |
| Keywords: | human development,économics,ecology,plants,capabilities,permacultural ethics,greening of economics |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03276515&r= |
| By: | Odusola, Ayodele; Mekuria, Fisseha; Mzyece, Mjumo; Mfupe, Luzango |
| Abstract: | Innovation on sustainable ICT technologies to realize affordable broadband connectivity for rural and underserved communities is a crucial component of the effort to achieve the aim of “leaving no one behind by 2030” as championed by the United Nations. Digital connectivity and the creation of a digital entrepreneurial rural ecosystem (DERE) are two interconnected interventions necessary to achieve digital inclusion with rural communities as the main target. This paper defines the ecosystem components for the DERE, which include affordable broadband, sustainable business models and co-creation of relevant ICT services involving beneficiary rural communities. This framework presents a proof of concept on rural SMEs-driven digital inclusion being implemented at four sites in South Africa. |
| Keywords: | Community/Rural/Urban Development, International Development, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2021–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:ags:undpae:313056&r= |
| By: | María Patricia Giraldo Correa; Julián Collantes Rubio |
| Keywords: | ResponsabilidadEmpresaMedio ambienteSostenibilidad |
| Date: | 2020–05–20 |
| URL: | http://d.repec.org/n?u=RePEc:col:000563:019379&r= |
| By: | Muriel Gilardone (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Ce papier est la troisième contribution au projet scientifique interdisciplinaire porté par Marie Rota, visant à valoriser le rôle des plantes au travers du procédé de l'écriture. Il explore une façon de concevoir l'écriture des plantes nocives en économie depuis une perspective critique des approches standards, à partir d'une approche qui se situe au croisement de la philosophie du développement humain théorisé par Amartya Sen et de l'éthique permaculturelle initiée par Bill Mollison et David Holmgren. Il constituera une annexe du chapitre 3 de l'ouvrage à paraître aux éditions Le Bord de l'eau : Marie Rota (Ed.) (2021), Ecrire les plantes. Une approche interdisciplinaire. |
| Keywords: | développement humain,éthique permaculturelle,économie normative,éthique,externalités,biens communs,modèle agricole,choix collectif,souveraineté du consommateur,agentivité des personnes |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03276579&r= |
| By: | Muriel Gilardone (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Ce papier est la quatrième contribution au projet scientifique interdisciplinaire porté par Marie Rota, visant à valoriser le rôle des plantes au travers du procédé de l'écriture. Il explore une façon de concevoir l'écriture des plantes médicinales en économie depuis une perspective critique des approches standards, à partir d'une approche qui se situe au croisement de la philosophie du développement humain théorisé par Amartya Sen et de l'éthique permaculturelle initiée par Bill Mollison et David Holmgren. Il constituera une annexe du chapitre 4 de l'ouvrage à paraître aux éditions Le Bord de l'eau : Marie Rota (Ed.) (2021), Ecrire les plantes. Une approche interdisciplinaire. |
| Keywords: | développement humain,éthique permaculturelle,plantes médicinales,éthique du soin,santé humaine,agentivité des personnes,puissance du végétal,entraide |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03276598&r= |