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on Environmental Economics |
| By: | Aurore Fransolet; Amy Phillips; Deborah Lambert; Julien Vastenaekels; Tao An Tung |
| Abstract: | This report introduces the main results from the first phase of the COGITO project, a prospective research project that explores scenarios for a just transition to carbon neutrality and climate resilience in the Brussels Capital region (BCR) at horizon 2050. More specifically, it presents the prospective diagnosis of social-ecological inequalities in the BCR in the three interlinked domains considered as part of COGITO: green infrastructure, housing and mobility. The main objective of such diagnosis is to “understand, in a systemic and dynamic way, the present and past evolutions both of the system itself and of its environment” (Goux-Baudiment 2013, p. 16, personal translation). This work is based on an original social-ecological justice framework that combines perspectives of the (social-)environmental and the ecological justice models. It considers five types of social-ecological inequalities in relation with intergenerational, intragenerational and interspecies justice: 1) the unequal contribution to environmental degradation, 2) the unequal distribution of environmental goods and burdens, 3) the unequal impacts of environmental policies, 4) the unequal participation in environmental policy- and decision-making processes, and 5) the unequal recognition of the needs of vulnerable/vulnerabilized groups.The prospective diagnosis has involved the development of a retrospective analysis of social-ecological inequalities in the BCR based on documentary research, exploratory interviews, and thematic workshops. In this context, the past evolution and current state of social-ecological inequalities in green infrastructure, housing and mobility in the region, as well as the factors that have influenced these inequalities has been explored. This analysis has highlighted the complex and multidimensional nature of social-ecological inequalities in these different domains, alongside their many interrelated influencing factors. |
| Keywords: | Just transition; Social-ecological inequalities |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/391574 |
| By: | Kantor, Sylvia; Joyce, Linda A.; O’Dea, Claire B.; Reeves, Matt; Warziniack, Travis |
| Abstract: | Every 10 years the Forest Service presents an assessment of the nation’s forests and rangelands. The 2020 Resources Planning Act Assessment (RPA Assessment) looks at historical data trends and projects the availability and condition of renewable resources across the nation’s forests and rangelands 50 years into the future. Mandated by the 1974 Forest and Rangeland Renewable Resources Planning Act, it is the sixth report in almost 50 years. Scientists from USDA Forest Service research stations, including the Rocky Mountain Research Station (RMRS), and numerous collaborators have been hard at work modeling and analyzing how climate, population growth, and socioeconomic change are likely to affect a spectrum of land uses and natural resources across private and public lands. The RPA Assessment presents a wealth of information about past trends and projected futures for land use, forests and rangelands, forest product markets, water resources, biodiversity, and outdoor recreation. This Science You Can Use Bulletin presents a sampling of findings relevant to disturbance, forests and rangelands, and water, both across the nation and specifically within the RPA Rocky Mountain Region. |
| Keywords: | Climate Change, Community/Rural/Urban Development, Land Economics/Use, Research and Development/Tech Change/Emerging Technologies, Research Research Methods/Statistical Methods, Resource/Energy Economics and Policy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:usdami:359097 |
| By: | Venkatachalam Anbumozhi (Economic Research Institute for ASEAN and East Asia (ERIA)); Kaliappa Kalirajanl (Emeritus Professor, Australian National University); Ayu Pratiwi Muyasyaroh (Economic Research Institute for ASEAN and East Asia (ERIA)); Veerapandian Karthick (Assistant Professor, Institute for Social and Economic Change, Bengaluru, India) |
| Abstract: | Carbon pricing is a policy tool designed to account for the external costs of carbon emissions, such as damage to crops, healthcare costs, and property loss due to climate change. It attaches a price to these costs and allocates responsibility to the sources of emissions. This approach helps incentivise the reduction of carbon emissions and encourages the adoption of technologies aimed at achieving a net zero economy. Revenue generated from carbon pricing can be reinvested by companies to support sustainable practices, including employee benefits and health insurance. While a few countries in the Association of Southeast Asian Nations (ASEAN) and East Asia have implemented carbon pricing mechanisms, there is limited understanding of individual preferences regarding these mechanisms at the national and regional levels. The Carbon Border Adjustment Mechanism of the European Union aims to standardise carbon prices for internationally traded products. However, there is a lack of knowledge about preferences for such policy instruments across key stakeholders and countries. A survey has been conducted to elicit stakeholders’ preferences and willingness to pay (WTP) for a carbon price in ASEAN and East Asia. The overall proportion of ‘yes’ answers to the WTP question was around 70%. Mean WTP corresponds to an additional price of US$10–US$15. The analysis of more than 500 consumer responses revealed that several modifiers impact the choice of higher and lower WTP additional costs for climate actions. Amongst the consumer groups, academia and household residents are more concerned about climate change and its harmful consequences but have less knowledge and lower appreciation of external pressures such as the European Union’s Carbon Border Adjustment Mechanism. This, coupled with the already high electricity price, could have resulted in the lower WTP by the private sector respondents. Three null hypotheses on the effects of WTP on carbon emission reductions, revenue recycling, and regional cooperation are tested. The low WTP underscores the urgency of measures to overcome market size and technical and financing constraints, and to address regulatory hurdles that raise transaction costs, to achieve industrial competitiveness |
| Keywords: | carbon price; climate change; net zero economy; revenue recycling; willingness to pay; ASEAN and East Asia |
| JEL: | Q49 Q58 C46 |
| Date: | 2025–06–04 |
| URL: | https://d.repec.org/n?u=RePEc:era:wpaper:dp-2025-03 |
| By: | Moro, Alessandro; Zaghini, Andrea |
| Abstract: | With the aim of providing a comprehensive framework of analysis, the paper develops a signaling model in which green bonds are able to increase the environmental performance of companies, as they allow investors, endowed with environmental preferences, to uncover the adoption of clean production processes. Companies relying on green technologies are rewarded by lower financing costs. In particular, green bonds encourage more polluting firms to embark on the transition toward a cleaner production. Relying on a large sample of companies located worldwide and implementing a difference-in-difference strategy, we successfully test the model implications. The analysis also reveals that green bonds issued to finance mitigation policies are the most effective in improving companies' environmental performance. In line with model predictions, these bonds display the largest yield differential (greenium) with respect to their conventional peers. |
| Keywords: | Sustainable finance, ESG scores, Green bonds, Greenium, Corporate bonds |
| JEL: | G11 G12 G24 Q51 Q56 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cfswop:320433 |
| By: | Paola Galfrascoli; Gianna Serafina Monti; Elisa Ossola |
| Abstract: | We propose a synthetic green indicator incorporating several dimensions contributing to the definition of greenness at the bond level. We include information on the presence of a green label attributed by a data provider based on the use of proceeds of the funds raised and certifications by external institutions. Variables regarding how the proceeds of green bonds are managed and whether a commitment exists to ongoing reporting on the funded projects are also added to account for the transparency of the bond issuance. To establish its role among the determinants of green bond yields, we perform a regression analysis consistent with the literature on measuring the greenium. The study comprehends a sample of European corporate green bonds between 2013 and 2024, and results highlight a significant negative premium, indicating that, ceteris paribus, “the more green†a bond is, the higher its greenium. |
| Keywords: | corporate green bonds, green premium, sustainable finance, climate policy, multilevel models. |
| JEL: | G12 G28 Q5 C21 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:mib:wpaper:556 |
| By: | Liang , Pinghan (Sun Yat-sen University); Lou , Yadi (Sun Yat-sen University); Tian , Shu (Asian Development Bank) |
| Abstract: | Since the early 21st century, air quality concerns in the People’s Republic of China (PRC) have garnered significant attention from both the public authorities and society. This study investigates the effects of digital environmental monitoring technology on air pollution. Specifically, we explore the data from government procurement of digital environmental monitoring technologies over the 2014–2019 period. The baseline results indicate that on average, each additional environmental contract per 100, 000 residents signed by governments is associated with an 8-percentage point reduction in city PM2.5 levels. This effect arises from more accurate pollutant identification, which strengthens enforcement of environmental regulations, facilitating any necessary transition and, where applicable, orderly exit of heavily polluting enterprises, and fosters green innovation. Further, this effect exhibits regional variation in the extent of environmental concern and the level of information disclosure. The results suggest that technology-driven environmental governance, supported by public engagement and policy frameworks, plays a crucial role in enhancing air quality in the PRC. |
| Keywords: | digital environmental monitoring; PM2.5; public monitoring; information disclosure |
| JEL: | O18 O33 Q50 |
| Date: | 2025–07–02 |
| URL: | https://d.repec.org/n?u=RePEc:ris:adbewp:0788 |
| By: | Bazoumana Ouattara |
| Abstract: | This paper examines how African cities can reconcile rapid urbanization and development imperatives with urgent decarbonization goals through structural transformation. It begins by mapping key sources of urban carbon-energy poverty, inefficient buildings, poor planning, transport systems, waste management, and construction practices-and quantifies their contributions to emissions. |
| Keywords: | Structural transformation, Urbanization, Green cities, Investments, Governance, Carbon emission intensity, low-carbon future |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:unu:wpaper:wp-2025-43 |
| By: | Aurore Fransolet; Josefine J.V. Vanhille |
| Keywords: | Transition juste; Justice sociale-écologique; Inégalités environnementales; Belgique |
| Date: | 2023–11–07 |
| URL: | https://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/365729 |
| By: | Tarsia, Romano |
| Abstract: | This paper provides novel firm-level estimates of the economic damages caused by temperature shocks to European firms. I rely on a panel data analysis to show wide heterogeneities in the impact of temperature shocks, which depend on firm characteristics. This paper reveals the importance of micro-level data to reduce the uncertainty in climate damages estimates, as the average relationship between temperature and economic outcomes masks firms’ different susceptibilities to weather shocks. These create both winners and losers, harming less productive and smaller firms, particularly those in warmer regions, while benefiting more productive ones. This paper highlights the distributional effects of climate change, and offers insights for targeted adaptation policies. |
| Keywords: | weather; climate change; firms; climate damages; economic performance |
| JEL: | D24 O13 O14 O52 Q51 Q54 R11 |
| Date: | 2024–11–21 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128533 |
| By: | Blasberg, Alexander; Kiesel, Rüdiger; Taschini, Luca |
| Abstract: | Using Credit Default Swap spreads, we construct and validate a forward-looking, market-implied carbon risk (CR) factor and show that the impact of carbon regulations on firms’ credit risk varies with the regulation’s scope and stringency, and with the speed of mandated carbon reduction. We find that explicit carbon pricing sharpens lenders’ evaluations, resulting in firms under such regimes incurring three times the additional credit protection costs. This impact escalates with the proportion of a firm’s direct emissions subject to regulation – the policy’s stringency – and varies by the sector in which the firm operates. With an increase in the CR factor, lenders foresee higher costs for short-term transitions. |
| Keywords: | carbon risk; climate change; climate finance; credit risk; transition risk |
| JEL: | C21 C23 G12 G32 Q54 |
| Date: | 2024–06–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128528 |
| By: | Hastreiter, Nikolaus |
| Abstract: | This paper investigates the effectiveness of collective investor engagement in driving corporate climate action. Empirically, I focus on Climate Action 100+ (CA100+), the world’s largest investor coalition on climate change. To address common measurement issues in previous research, I conduct a multidimensional assessment of companies’ climate action. In particular, I collect new primary data on the ambition of carbon emission reduction targets and use the ClimateBERT model to analyse climate-related disclosure. To isolate the causal impact of CA100+, I examine the selection of the coalition’s focus companies and employ a Difference-in-Differences analysis. While the findings suggest that CA100+ has had no effect on companies’ disclosures or reductions in carbon emissions, I observe a significant impact on targets. However, this effect holds only for medium- and long-term targets, not in the short-term, and is exclusively driven by companies potentially selected based on prior investor knowledge. Overall, this study finds limited effectiveness of collective engagement through CA100+. It raises questions about the importance of investor selectivity for engagement success and highlights the risk of companies backloading their decarbonisation efforts. |
| JEL: | E22 Q50 |
| Date: | 2024–11–25 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128523 |
| By: | Piero Basaglia; Sophie M. Behr; Moritz A. Drupp |
| Abstract: | We investigate how fuel taxation reduces climate and pollution externalities by evaluating the world’s largest environmental tax reform. Using spatially detailed emissions data from more than 1, 000 European regions in a synthetic difference-in-differences framework, we evaluate the impact of Germany’s 1999 ecological tax reform on transport-related carbon and air pollutant emissions. We document sizable aggregate reductions for all emissions, exceeding 10 percent on average per year relative to synthetic baselines. Using official damage valuations, we estimate avoided external costs of more than €100 billion, two-thirds of which stem from health benefits due to reduced air pollution. Emission reductions and associated monetized benefits are larger in lower-income regions, contrasting with a slightly regressive distribution of fuel costs. These findings underscore the importance of incorporating air quality co-benefits when evaluating the efficiency and distributional effects of fuel and carbon pricing. |
| Keywords: | environmental policy, externalities, fuel tax, carbon tax, synthetic difference-in-differences, tax elasticity, climate, pollution |
| JEL: | Q58 H23 I18 R48 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11949 |
| By: | Kumara T M, Kiran; Birthal, Pratap Singh; Meena, Dinesh Chand; Kumar, Anjani |
| Abstract: | Agriculture is multi-functional, producing economic goods including food, feed, fibre, and fuel, as well as providing several intangible or non-tradable services to society free of cost. Non-tradable services, unlike economic goods, remain unpriced; as a result, farmers are not compensated monetarily for the benefits of the several non-tradable services they provide through agriculture. Recognizing the monetary value of non-tradable ecosystem services is crucial to incentivize farmers to adopt eco-friendly technologies and practices for the sustainable development of agriculture. Through a meta-analysis of the existing evidence on ecosystem services, this study attempts to estimate the value of ecosystem services by using direct and indirect valuation methods—for example, carbon sequestration, methane emission, nutrient availability, biological nitrogen fixation, and water saving—generated by several important technological and agronomic interventions, namely the direct seeding of rice (DSR), zero-tillage in wheat, leguminous crops, organic manure, integrated nutrient management, and agroforestry, based on studies conducted in India. It also explores the trade-offs between the non-tradable and tradable ecosystem services attributable to these interventions. The monetary value of the non-tradable services resulting from most of these interventions is quite large, 34–77% of the total value of all the ecosystem services. However, not all interventions result in a win-win situation that yields improvements in both tradable and non-tradable outcomes. While no-till wheat, legumes, and integrated nutrient management result in a win-win outcome, there are trade-offs between the tradable and non tradable ecosystem services in the cases of directed seed rice, organic manure, and agroforestry. This evidence suggests that not all agricultural technologies and practices are beneficial for farmers, despite their higher environmental benefits. Thus, the findings of this study imply that agricultural policy should provide incentives for the adoption of technologies and practices to conserve ecosystems and natural resources. |
| Keywords: | ecosystem services; agriculture; economic value; farmers; sustainability; incentives; technology adoption; India; Southern Asia |
| Date: | 2024–04–11 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:140796 |
| By: | Kalantzis, Fotios; Kesidou, Effie; Ri, Anastasia; Roper, Stephen |
| Abstract: | This paper investigates how firms navigate the dual challenges of digitalisation and climate change. Our comprehensive approach considers climate change strategies, distinguishing adaptation-only, mitigation-only and 'dual' adaptation and mitigation strategies. Drawing on theoretical insights from the literature on digital affordances, we argue that digitalisation enables firms to recognise better the opportunities and risks associated with climate change. These affordances significantly influence strategic decisions regarding adaptation, mitigation, or a combination of both, ultimately impacting the intensity of their implementation efforts. To empirically examine these dynamics, we analyse data from the 2022 and 2023 European Investment Bank Investment Survey waves. Our sample includes over 24, 000 firms, spanning small and medium-sized enterprises (SMEs) and large businesses across 27 EU Member States and the USA. Our results reveal that firms with higher digitalisation are more likely to adopt a 'dual' strategy that combines mitigation and adaptation efforts rather than pursuing a single climate strategy or no climate response. Furthermore, we find a positive relationship between digitalisation and climate action intensity across mitigation and adaptation measures. Importantly, these patterns hold consistently across different sectors and firm sizes. Overall, our study sheds light on the critical role of digital technologies in shaping firms' climate responses, emphasising the need for organisations to leverage their technological strengths to address environmental challenges effectively. |
| Keywords: | Business, Strategic management, Digitalization, Climate change, Climate protection, Environmental management, EU countries, USA |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:eibwps:319607 |
| By: | Ferrazzi, Matteo; Kalantzis, Fotios; Zwart, Sanne |
| Abstract: | We present an index to measure climate risk for over 170 countries, separately assessing physical and transition risk while accounting for adaptation and mitigation capacity. Crucially, we carefully select the most relevant risk factors and assign the related weights based on the literature and empirical evidence. This integrated approach distinguished our index from existing rankings which, through the use of numerous equally-weighted indicators, implicitly assign equal importance to risk factors. Our climate risk country scores for 2024 show that low-income economies are more vulnerable to physical risk, in particular to extreme weather events and excessive heat. Countries dependent on fossil fuel revenues are among the most exposed to transition risk, while high-income economies, which generate significant emissions, tend to face high transition risks as well. The scores can be used as a risk management tool, both at the country level and, as starting point, for the assessment of economic entities in each geography. In addition, they can also help to identify mitigation and adaptation priorities and related financing needs. The accompanying excel file (available upon request) allows to easily assess the impact of risk factors on the final scores and to adapt the methodology to alternative purposes. |
| Keywords: | Climate risk, Climate change, Climate scores, Physical risk, Transition risk |
| JEL: | F64 Q5 Q50 Q54 Q56 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:eibwps:319635 |
| By: | Ozili, Peterson K |
| Abstract: | Sustainability is a buzzword that has gained traction around the world. It is linked to, or synonymous with, environmental, social and governance (ESG) principles. The advocacy for sustainability has led many individuals, corporations and governments to incorporate ESG principles into their operations and processes, and communicate to stakeholders how they are meeting sustainability expectations and its role in the value creation process in society. Despite these strides, a critical mind would ask some important philosophical questions: Does “society” need sustainability? The answer is yes. Is the sustainability agenda good for the world? The answer is yes. But is sustainability the only way to conserve environmental, social and governance resources to make it available for the present and future generations? The answer is, no? This article discusses sustainability and argues that sustainability is a way to achieve the goal of resource preservation and continuity for the present and future generations, but it is not the only way. It critique attempts to present sustainability as the only way to achieve the goal of resource preservation. While this study does not offer an alternative way to achieve the goal of resource preservation for the present and future generations, it call on scholars to explore alternative ways to achieve the goal of resource preservation for the present and future generations. |
| Keywords: | sustainability, sustainable development, renewable energy, fossil fuels, ESG, information |
| JEL: | Q01 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125035 |
| By: | Osti, Davide |
| Abstract: | I briefy review and comment on some papers about climate change economics through time and space along the following exposition, especially centering on the work of William D. Nordhaus' dynamic integrated climate economy model (DICE) and other integrated assessment models to study the effects of climate change on temperatures, amenities, and the economy more broadly. |
| Keywords: | climate change, DICE model, IAMs models, parameter uncertainty |
| JEL: | C15 C51 D58 D62 D63 D71 D72 F43 F53 Q32 Q34 Q51 Q52 Q53 Q54 Q55 Q56 |
| Date: | 2025–06–10 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124987 |
| By: | Magaletti, Nicola; Notarnicola, Valeria; di Molfetta, Mauro; Leogrande, Angelo |
| Abstract: | This work tests the relationship of the building sector's carbon dioxide (CO₂) emissions with a set of environmental, social, and governance (ESG) indicators in an international panel of countries. Using machine learning approaches alongside traditional econometric techniques, the work identifies strong predictors of emissions intensity in the nature of scientific productivity, healthcare infrastructure, and good governance. The findings indicate higher scientific productivity and better government governance are associated with reduced CO₂ emissions from building stocks, while the effectiveness of government and R&D expenditures are found to be associated with higher emission rates, possibly due to the broader urban infrastructures of the developed nations. With the help of clustering as well as permutation-based measures of importance, the work establishes the complex dynamics interlinking development, knowledge creation, and environmental efficiency. The result provides practical indications for policymakers who aim to harmonize the national ESG policies with the targets of decarbonization in the built space. |
| Keywords: | Carbon Emissions, ESG Indicators, Building Sector, Machine Learning, Governance Effectiveness |
| JEL: | C55 H52 O38 O44 Q56 |
| Date: | 2025–06–20 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125068 |
| By: | Abatemarco, Antonio (CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy); Dell'Anno, Roberto (CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy); Lagomarsino, Elena (Department of Economics, University of Genoa - Italy) |
| Abstract: | The implementation of environmental policies varies substantially across geographical areas. This paper proposes a conceptual and methodological framework—adapted from the health economics literature—to assess equity in the allocation of environmental policy effort. We define “environmental care” as the set of local policy interventions aimed at improving environmental quality within an area, and evaluate its distribution relative to environmental need. Using direct and indirect standardization techniques, we measure horizontal inequity (unequal care among areas with similar need) and vertical inequity (differential care in response to differing needs). Applying this framework to traffic-related air pollution policies in Italian municipalities from 2012 to 2021, we find that the observed reduction of overall inequality in environmental care is mostly driven by a decline in hori- zontal inequity. However, we find evidence of persistent socioeconomic disparities, with lower-income municipalities receiving disproportionately less policy effort relative to their environmental needs. |
| Keywords: | environmental equity; environmental inequality; air pollution; distributive justice |
| JEL: | Q53 Q58 R58 |
| Date: | 2025–07–03 |
| URL: | https://d.repec.org/n?u=RePEc:sal:celpdp:0172 |
| By: | Heimann, Tobias; Wähling, Lara-Sophie; Honkomp, Tomke; Delzeit, Ruth; Pirrone, Alessandra; Schier, Franziska; Weimar, Holger |
| Abstract: | Bioenergy with carbon capture and storage (BECCS) is a crucial element in most modelling studies on emission pathways of the Intergovernmental Panel on Climate Change to limit global warming. BECCS can substitute fossil fuels in energy production and reduce CO2 emissions, while using biomass for energy production can have feedback effects on land use, agricultural and forest products markets, as well as biodiversity and water resources. To assess the former pros and cons of BECCS deployment, interdisciplinary model approaches require detailed estimates of technological information related to BECCS production technologies. Current estimates of the cost structure and capture potential of BECCS vary widely due to the absence of large-scale production. To obtain more precise estimates, a global online expert survey (N = 32) was conducted including questions on the regional development potential and biomass use of BECCS, as well as the future operating costs, capture potential, and scalability in different application sectors. In general, the experts consider the implementation of BECCS in Europe and North America to be very promising and regard BECCS application in the liquid biofuel industry and thermal power generation as very likely. The results show significant differences depending on whether the experts work in the Global North or the Global South. Thus, the findings underline the importance of including experts from the Global South in discussions on carbon dioxide removal methods. Regarding technical estimates, the operating costs of BECCS in thermal power generation were estimated in the range of 100–200 USD/tCO2, while the CO2 capture potential was estimated to be 50–200 MtCO2yr−1 by 2030, with cost-efficiency gains of 20% by 2050 due to technological progress. Whereas the individuals' experts provided more precise estimates, the overall distribution of estimates reflected the wide range of estimates found in the literature. For the cost shares within BECCS, it was difficult to obtain consistent estimates. However, due to very few current alternative estimates, the results are an important step for modelling the production sector of BECCS in interdisciplinary models that analyse cross-dimensional trade-offs and long-term sustainability. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkie:319917 |
| By: | Coppens, Léo; Venmans, Frank |
| Abstract: | Two approaches are predominant in climate models: cost-benefit and cost-effectiveness analysis. On the one hand, cost-benefit analysis maximises welfare, finding a trade-off between climate damages and emission abatement costs. On the other hand, cost-effectiveness analysis minimises abatement costs, omits damages but adds a climate constraint, such as a radiative forcing constraint, a temperature constraint or a cumulative emissions constraint. These constraints can be applied from today onwards or only from 2100 onwards, allowing to overshoot the target before 2100. We analyse the impacts of these different constraints on optimal carbon prices, emissions and welfare. To do so, we fit a model with abatement costs, capital repurposing costs (stranded assets) and technological change on IPCC and NGFS scenarios. The welfare-maximizing scenario reaching 1.5°C in 2100 has almost no net negative emissions at the end of the century (-2GtCO2/y). A constraint on cumulative emissions has the best welfare properties, followed by a temperature constraint with overshoot. A forcing constraint with overshoot has insufficient early abatement, leading to a substantial welfare loss of $29 Trillion, spread out over the century. As to the paths reaching 2°C, all cost-effectiveness analysis abate too late, but the welfare impact of this dynamic inefficiency is milder. Again, a forcing constraint with overshoot scores worst. |
| Keywords: | climate change mitigation; targets formulation; integrated assessment models; optimal abatement path; cost-benefit; cost-effectiveness; welfare; negative emissions |
| JEL: | Q54 Q58 D61 |
| Date: | 2023–10–26 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128529 |
| By: | Laborde Debucquet, David; Olivetti, Elsa B.; Piñeiro, Valeria; Illescas, Nelson |
| Abstract: | This study identifies food system interventions with high transformational potential for Indonesia by utilizing the MIRAGRODEP a multi-region, multisector computable general equilibrium model to analyze policy scenarios. Our findings reveal a range of economic, social, and environmental impacts. Initiatives such as social safety nets and food stamps can enhance affordability, while repurposing farm subsidies can improve socio-economic sustainability. Comprehensive policy packages that include social safety nets, repurposing agricultural supports, environmental regulation and investment in sustainable production, can lead to substantial GDP growth, poverty reduction, and dietary enhancements. However, each intervention presents distinct trade-offs between economic gains and environmental implications. This analysis underscores the need for a holistic policy approach when trying to achieve multiple sustainability goals. Implementing a blend of policies designed to promote environmental, social, and economic sustainability simultaneously could drive Indonesia towards a sustainable and resilient food system, addressing the complex interplay between economic development, environmental conservation, and improved nutrition. |
| Keywords: | food systems; computable general equilibrium models; policies; social safety nets; sustainable development; agriculture; economic development; nutrition; poverty; Indonesia; South-eastern Asia; Asia |
| Date: | 2024–07–25 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:149269 |
| By: | Abdulrahman, Abdulrahman |
| Abstract: | This paper investigates the determinants of energy consumption in Egypt using annual data from 1984 to 2014. It examines the relationships between energy consumption and key macroeconomic variables: GDP per capita, gross capital formation, CO₂ emissions, and financial development. Using multiple regression analysis (OLS model), the study finds statistically significant coefficients: GDP per capita and investment negatively influence energy consumption, while CO2 emissions show a strong positive correlation. Financial development displays a mixed effect. The regression model demonstrates a high explanatory power (R² = 99.3%), indicating that these variables jointly explain energy consumption patterns in Egypt. These results offer policy-relevant insights for balancing economic development with environmental sustainability through efficient energy use. |
| Keywords: | Energy consumption, GDP per capita, Investment, CO2 emissions, Financial development, Egypt, OLS regression, Macroeconomic determinants, Sustainable development, Environmental economics |
| JEL: | Q4 Q43 Q47 Q48 Q5 Q51 Q54 Q56 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125085 |
| By: | Matteo Crosignani; Martin Hiti |
| Abstract: | We introduce the first comprehensive publicly available dataset on county-level damages, injuries, and fatalities from natural disasters in the U.S. and present a few facts on the economic and human costs of extreme climate events. Our source is the National Oceanic and Atmospheric Administration’s Storm Events Database, which reports losses for geographic areas largely defined based on meteorological science. We map these areas to counties using geographic tools together with the spatial distribution of population, housing stock, and economic activity. Our estimates are particularly accurate for severe disasters. The Losses from Natural Disasters dataset is regularly updated at https://newyorkfed.org/research/policy/n atural-disaster-losses. |
| Keywords: | natural disasters; physical risk |
| JEL: | H12 H71 Q54 |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fednsr:101189 |
| By: | Aurore Fransolet; Jönne Huhnt; Alexandre Désaubry; Julien Vastenaekels; Amy Phillips; Deborah Lambert |
| Abstract: | In recent years, the concept of ‘just transition’ has evolved from a narrow social project, aimed at protecting workers in industries affected by environmental regulations, to a comprehensive social-ecological project aimed at addressing social inequalities and environmental degradation in an integrated way. This integrated pursuit of social justice and environmental sustainability objectives is particularly relevant for the urban context, where social and ecological issues concentrate and intertwine. Despite the growing prominence of just transition imperatives in urban agendas, questions of what a just and sustainable city could and should look like remain under-investigated. Against that background, the main objective of the present research is to explore urban visions that explicitly combine social justice and environmental sustainability objectives. More specifically, this research aims at 1) outlining contrasting visions of a just and sustainable city in the Brussels Capital Region, 2) identifying the actors who support these visions, and 3) highlighting the areas of consensus and debate on the issue. With that aim in mind, we conducted a survey of Brussels’ stakeholders based on a Q-methodology, i.e. a statistically supported survey method for understanding the plurality of perspectives on a topic within a group. This survey was carried out between December 2023 and January 2024, and 32 representatives of administrations and other public institutions, NGOs and associations, business federations, trade unions and citizen movements took part. The statistical analysis of survey data and the interpretation of its results led to the definition of three contrasted urban visions bridging social justice and environmental sustainability objectives: The ‘Smart City’, the ‘Foundational City’ and the ‘Exnovation City’. The main distinguishing characteristics of these visions of the just and sustainable city reflecting the different perspectives of Brussels' stakeholders are presented in the summary figure. By identifying and exploring three original visions of Brussels bridging social justice and environmental sustainability objectives, this research contributes to understanding the contours of the future(s) towards which just urban transitions could orient, alongside the main disagreements and consensus on this issue. It thus provides fruitful ground for open debate and further research on just transitions in Brussels-Capital Region and other metropolitan areas. |
| Keywords: | Just transition; Just sustainabilities |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/391572 |
| By: | Deschenes, Olivier; Jarvis, Stephen; Jha, Akshaya; Radford, Alan D |
| Abstract: | There is a large literature documenting the adverse impacts of air pollution on human health. In contrast, there is a paucity of research studying the effects of air pollution on animal health. We fill this gap, utilizing five years of data on over seven million visits to veterinary practices across the United Kingdom. Leveraging within-city variation in daily monitor-measured air pollution levels, we find that increases in fine particulate matter (i.e., PM2.5) lead to significant increases in the number of vet visits for both cats and dogs. In aggregate, these estimates indicate that reducing ambient PM2.5 levels to a maximum of 5µg/m3 as recommended by the World Health Organization would result in eighty thousand fewer vet visits each year (a 0.4% reduction). |
| Keywords: | pets; air pollution; animal health |
| JEL: | I00 Q51 Q53 Q57 |
| Date: | 2024–10–17 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128526 |
| By: | Andrea Lolli (Università degli studi di Ferrara) |
| Abstract: | There is strong scientific evidence that climate change is accelerating. Its effects on the Emilia-Romagna region in Italy are becoming increasingly severe and frequent, to the point that extreme weather events can no longer be considered unforeseeable or “fortuitous.†Reflecting this shift, Italian law now requires all businesses to purchase insurance coverage for natural disasters. At the same time, certain areas of the region are no longer safe for human settlement. Delocalization is planned, and those who choose not to relocate may no longer receive compensation for climate-related damages. A new legal tool – the “servitù di allagamento†(flood easement) – allows designated areas to be flooded, when necessary, without formal expropriation. Numerous public interventions are being planned, not only to repair past damage but also to prevent future floods. However, these measures are insufficient for addressing the most critical challenge: coastal zones. Scientific forecasts predict a significant rise in sea levels, particularly threatening the Po River Delta and coastal areas in the provinces of Ferrara and Ravenna, worsened by ongoing land subsidence. Despite this, Italian public authorities appear unwilling to confront the issue clearly. They neither deny the risk nor take meaningful action to address it, missing the opportunity to allocate PNRR (Next Generation EU) funds for coastal adaptation. In contrast, countries like Indonesia are already responding: facing rising sea levels, it has decided to relocate its capital from Jakarta – a city of 30 million people – to a new inland location. Italy does not yet seem ready to face such transformations. One can only hope that it will not take a tragedy to trigger awareness and action. |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:srt:wpaper:0525 |
| By: | Rik Rozendaal |
| Abstract: | This paper studies the relationship between climate policy, market power and innovation. Using data on patenting and firms' balance sheets, I document that firms with a higher degree of market power are, on average, more invested in dirty technologies than their direct competitors. I then develop a model of directed technical change with strategic innovation incentives, incorporating the empirical evidence. A carbon tax affects market power and both the intensity and the direction of innovation. In the calibrated model, a carbon tax lowers aggregate markups and increases clean innovation while also increasing dirty innovation by some firms. |
| Keywords: | climate policy, market power, innovation, directed technical change |
| JEL: | O30 O44 Q55 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11938 |
| By: | García-Suaza, Andres; Caiza-Guamán, Pamela; Sarango-Iturralde, Alexander; Romero-Torres, Bernardo; Buitrago, Catalina |
| Abstract: | The green transition represents one of the most significant transformational forces in the labor market in the coming years. This paper analyzes the incidence of green jobs in four Latin American countries using information from job vacancy data. The results reveal a low incidence of demand for jobs with green potential or for new and emerging occupations related to the green transition. Such occupations are characterized by requiring high levels of education and offer a significant wage premium. These results highlight the main challenge of the green transition, which lies in the need to implement training processes, while revealing opportunities for the creation of high-quality jobs in the region. |
| Keywords: | Labor demand, green jobs, green transition, climate change, skills |
| JEL: | J24 J62 Q52 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1625 |
| By: | Benfica, Rui; Hossain, Marup; Davis, Kristin E.; Boukaka, Sedi Anne; Azzarri, Carlo |
| Abstract: | Sustainable agrifood systems (AFS) provide food security and nutrition without compromising economic, social, and environmental objectives. However, many AFS generate substantial unaccounted for environmental, social, and health costs. True cost accounting (TCA) is one method that adds direct and external costs to find the “true cost” of food production, which can inform policies to reduce externalities or adjust market prices. We find that for Kenya— considering the entire food system, including crops, livestock, fishing, and value addition sectors at the national level—external costs represent 35 percent of the output value. Social costs account for 73 percent of the total external costs, while environmental costs are 27 percent. In contrast, in Viet Nam, where total external costs represent 15 percent of the output value, the environmental costs (75 percent) dominate social costs. At the subnational level, in the three Kenyan counties (Kisumu, Vihiga, and Kajiado) covered by the CGIAR Research Initiative on Nature-Positive Solutions (NATURE+), external costs (or the true cost gap) represent about 30 percent of all household crop production costs. Those external costs are overwhelmingly dominated by social (84 percent) over environmental (16 percent) externalities. In Viet Nam's Sa Pa and Mai Son districts, external costs represent about 24 percent of all household crop production costs. Environmental externalities (61 percent) are greater than social ones (39 percent). In Kenya, forced labor is the main social (and overall) external impact driven by factors ranging from "less severe" financial coercion to "more severe" forms of physical coercion. Land occupation is the most important environmental impact, resulting from occupation of lands for cultivation rather than conservation, while underpayment (low wages) and low profits are important social costs that are closely associated with the prevailing gender wage gap and occurrence of harassment. Soil degradation is the only other environmental impact, linked with the use of inorganic fertilizers (60 percent of households) and pesticides (36 percent). In Viet Nam, land occupation is the most important external impact, followed by soil degradation and contributions to climate change, primarily due to widespread use of inorganic fertilizers (98 percent of households) and pesticides (93 percent). Underpayment and insufficient income are significant social costs, followed by the gender wage gap and child labor. Crop production systems in Kenya exhibit relatively high labor-related costs compared with nonlabor inputs, with relatively lower intensity in the use of inorganic fertilizer and other chemical inputs and lower crop yields. This production system leads to relatively greater social externalities. Conversely, crop yields in Viet Nam are significantly higher than those in Kenya, likely due to the extensive use of inorganic fertilizers representing the largest direct cost component and leading to a relatively higher level of environmental externalities. Because external costs represent a significant part of the total cost of food production, policy and investments to minimize these costs are essential to a nature-positive AFS that is environmentally sustainable and socially equitable. Strategies to reach this goal include regulatory adjustments, investments in resource efficient infrastructure and technologies that minimize costs, and the prudent management of environmentally impactful production inputs and factors. |
| Keywords: | agrifood systems; environment; food security; sustainability; true cost accounting; food production; Kenya; Vietnam; Africa; South-eastern Asia; Asia; Eastern Africa |
| Date: | 2024–09–10 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:152074 |
| By: | Augustus Smith |
| Abstract: | Many countries plan to ban the sale of new combustion engine vehicles. I examine the impact of introducing such a ban in Great Britain in 2023, estimating demand, and calculating the reduction in the carbon externality using data on vehicle emissions and individual mileages. This reveals issues with the ban’s design, mainly due to hybrids’ popularity: anticipation will not incentivise firms to develop electric vehicles, low-income households would be harmed most, and CO2 emissions would not be substantially reduced. Using a revenue-neutral combination of sales taxes and subsidies delivers 50% of the ban’s climate benefit at 15% of the cost. |
| Date: | 2025–06–17 |
| URL: | https://d.repec.org/n?u=RePEc:oxf:wpaper:1083 |
| By: | Guanyu LU; Kenta TANAKA; Toshi H. ARIMURA |
| Abstract: | This study examines the impact of the Tokyo and Saitama regional emissions trading systems (ETSs) on the productivity of Japan’s manufacturing installations. Utilizing data from the Economic Census for Business Activity and the Census of Manufacture, we measure the total factor productivity (TFP) of both regulated and unregulated manufacturing installations. Subsequently, we estimate the extent to which the ETSs impact the TFP of regulated manufacturing installations. Our findings indicate that the TFP of regulated installations increases after the implementation of ETS compared to that of unregulated installations. Furthermore, the results of factor analysis suggest that investment trends in equipment differ between regulated and unregulated installations. These findings underscore the interaction between environmental regulations and installation productivity in Japan, contributing to policy discussions on effective climate change mitigation strategies. |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:eti:dpaper:25063 |
| By: | Tao, Miaomiao; Saadaoui, Jamel |
| Abstract: | We identify the negative influence of nationalist sentiment on economic growth. Our cross-country evidence confirms the growth-depressing effect of nationalism, projecting that economic growth has been constrained by roughly 12 percent over thirty years. This conclusion is robust across various tests. Paradoxically, nationalism helps reduce environmental damage, lowering overall emissions and intensity, especially in the building, industry, and transportation sectors. We observe that the effect of nationalism in cutting carbon emissions weakens slightly as GDP per capita rises. However, in poorer countries, this environmental impact remains steady regardless of changes in income, suggesting nationalism’s role in reducing emissions stays stable despite economic growth. |
| Keywords: | Nationalism; Economic Growth; Political Economy; Environmental Impact |
| JEL: | F5 F52 O40 O47 |
| Date: | 2025–06–22 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125113 |
| By: | Ignacio Félez de Torres (BANCO DE ESPAÑA); Clara I. González Martínez (BANCO DE ESPAÑA); Elena Triebskorn (DEUTSCHE BUNDESBANK) |
| Abstract: | With the effects of climate change becoming more evident every year, preventing and, ideally, reversing it is a pressing challenge. The Paris Agreement was a milestone in the fight against climate change, establishing a series of specific targets for 2050. The agreement sets out various goals, including to hold the increase in the global temperature to below 2°C above pre-industrial levels and to pursue efforts to limit the increase to 1.5°C. Assessing the world’s progress towards this goal requires forward-looking information on the transition to net-zero of countries, companies and the financial sector. In this paper, we begin by highlighting the importance of forward-looking indicators for assessing climate-related transition risks, both for corporations and countries. We then assess a range of currently available data sources, which provide a variety of indicators, particularly for corporations. However, we find that results vary depending on the data sources used, and only a limited number of firms, primarily large ones, are currently disclosing forward-looking indicators. These discrepancies can partly be attributed to differences in methodology, they are not always easy to understand, nor are they always comparable or communicated transparently. Therefore, their appropriate use depends on specific use cases. We also analyse the goals and pathways established by countries to achieve the Paris Agreement’s main target to limit the increase in global temperature through different data sources and frameworks. We find that there are different approaches based on the original goals set by each country with different coverage. We close the paper by outlining potential ways forward for central banks and ways by which statisticians, standard setters and other relevant stakeholders, including private entities, can help improve the quality, accessibility and comparability of forward-looking climate transition risk data. |
| Keywords: | climate change, goals, forward-looking, indicators |
| JEL: | C00 E58 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:bde:opaper:2515e |
| By: | Anna D. Mata; Héctor M. Núñez |
| Abstract: | This study examines the energy efficiency and environmental performance of Mexico's manufacturing sector across regions. We employ a Data Envelopment Analysis model that optimizes the weighted output-input ratio for each decision-making unit. Specifically, a non-radial directional distance function model is used to account for both desirable outputs and undesirable outputs, represented by greenhouse gas emissions. The findings show that including undesirable outputs reduces the estimated economic efficiency. Over the analysis period, the production frontier shifted only modestly. Regionally, northern states perform best, while southern states lag behind, revealing considerable potential for national energy and emission savings. |
| Keywords: | Undesirable output;Energy efficiency improvements;GHG emission performance;Directional distance function |
| JEL: | C61 D24 Q43 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:bdm:wpaper:2025-10 |
| By: | Chiara Castelli (The Vienna Institute for International Economic Studies, wiiw); Ronald B. Davies; Mahdi Ghodsi (The Vienna Institute for International Economic Studies, wiiw); Francesca Guadagno (The Vienna Institute for International Economic Studies, wiiw); Javier Flórez Mendoza (The Vienna Institute for International Economic Studies, wiiw); Francesca Micocci; Armando Rungi |
| Abstract: | Foreign direct investment (FDI) has become a driver of growth in both developed and developing countries, as it enables the transfer of know-how and advanced technologies to host economies. This policy note discusses how FDI can effectively support innovation and green growth within the European Union (EU). It focuses on the role of regulatory harmonisation and technological alignment as factors that can significantly influence the location decisions and effectiveness of FDI. Similarly, as spill-overs from foreign affiliates substantially enhance local innovation capabilities, particularly in green technologies, we argue in favour of policies enhancing domestic absorptive capacity and of policy mechanisms that can systematically integrate sustainability criteria into FDI screening processes. Aligning investment policies with regional technological strengths and green transition goals will enable the EU to leverage FDI strategically for sustainable economic growth and climate resilience. |
| Keywords: | FDI, regulatory distance in NTMs, technological proximity, environmental technology, regional spill-overs |
| JEL: | F23 L23 O24 O33 O34 R58 Q55 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:wii:pnotes:pn:97 |
| By: | Calel, Raphael; Dechezlepretre, Antoine; Venmans, Frank |
| Abstract: | Carbon markets have emerged in recent decades as one of the most important tools for curbing industrial greenhouse gas emissions, but they present a number of novel enforcement challenges as compared to more conventional pollution regulations—new regulators with narrow authority, lack of legal precedent, and more. To shed light on the practical issues involved in policing carbon markets, we present the first comprehensive analysis of the EU Emissions Trading System, a single program that was policed by 31 different national regulators. We find generally high rates of compliance coupled with low rates of enforcement, a pattern that is known in the literature as ‘Harrington’s paradox.’ Variation in the probability and severity of fines explain just one tenth of the variation in compliance rates. Meanwhile, other enforcement strategies that have been pointed to as resolutions to Harrington’s paradox in other applications, such as ‘naming and shaming, ’ appear to have had little discernible effect. |
| Keywords: | pollution control; compliance; enforcement; cap-and-trade |
| JEL: | Q50 Q52 C14 |
| Date: | 2023–09–13 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128531 |
| By: | Birthal, Pratap S.; Srivastava, Shivendra Kumar; Saxena, Raka; Godara, S.; Chand, Prem; Kishore, Prabhat; Jumrani, Jaya; Kandpal, Ankita; Sharma, Purushottam; Pant, Devesh Kumar |
| Abstract: | Indian agriculture has reached the stage of unprecedented achievements, accompanied by unprecedented challenges. It has witnessed an all-time high growth of approximately 4% during the past decade ending 2023-24, which is likely to continue with the right set of technologies, policies and institutions. However, it is pertinent to examine the factors underlying these achievements and their associated costs to prepare a roadmap for sustainable growth of agriculture to achieve the national goals of food and nutrition security, and inclusive development. In some states, agricultural sector has emerged as the primary driver of economic growth. However, this occurred because of the intensive use of resources and prioritizing short-term gains over long-term sustainability in most cases. This is evidenced by the factors such as increased use of fertilizers to produce the same amount of output, declining groundwater levels, soil degradation, and environmental pollution. |
| Keywords: | Agricultural and Food Policy, Crop Production/Industries, Research and Development/Tech Change/Emerging Technologies, Sustainability |
| Date: | 2025–03–03 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icar24:358871 |
| By: | Ambec, Stefan; Crampes, Claude; Lamp, Stefan |
| Abstract: | The energy transition requires significant investment in intermittent renewable energy sources, such as solar and wind power. New generation capacities are generally procured through fixed price contracts, such as power purchase agreements and contracts for difference, or feed-in tariffs. With these designs, renewable technologies are selected based on their generation, regardless of their adequacy with demand and supply by other technologies. We show that fixed-price contracts implement the optimal portfolio of renewable technologies if the price is adjusted with a technology-specific bonus-malus system that depends on the correlation between renewable energy production and the wholesale electricity price. We estimate the bonus-malus for solar and wind power in California, France, Germany, and Spain and decompose it to identify the key market factors driving the adjustment. We argue that the bonus-malus measures the cost of integrating intermittent generation into the energy mix. Therefore, it should be added to the levelized cost of energy (LCOE) to obtain the cost of generating an additional megawatt-hour with a specific renewable technology. |
| Keywords: | Electricity market; levelized cost of energy; climate change; intermittent renewable energy; feed-in tariff; power purchase agreement; contract for difference. |
| JEL: | D47 L23 Q41 Q48 |
| Date: | 2025–07–07 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:130654 |
| By: | Bortolan, Leonardo; Dey, Atreya; Taschini, Luca |
| Abstract: | We establish the financial materiality of temperature variability by demonstrating its impact on US firms and investors. A long-short strategy that sorts firms based on exposure earns a market-adjusted alpha of 39 basis points per month. This variability metric is related to aggregate decreases in firm profitability, with asymmetric effects across industries. These outcomes are driven by reductions in consumer demand and labor productivity coupled with changes in media and investor attention. The geographically scalable statistical framework provides a reference for assessing the quantitative effects of climate-related physical risks, offering a metric for improving the disclosure of material climate risks. |
| Keywords: | corporate climate reporting; climate attention; temperature variability; stock returns; firm performance |
| JEL: | C21 C23 G12 G32 Q54 |
| Date: | 2024–12–06 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128521 |
| By: | Marwil J. Davila-Fernandez; Christian R. Proano; Serena Sordi |
| Abstract: | Drawing on the political science literature, we develop a heterogeneous agents macro model that differentiates between left- and right-wing voting preferences in two political dimensions: the economic-distributive (ED) and the socio-cultural (SC) in particular regarding climate change. The model is compatible with the emergence of "ED-left/SC-left", "ED-left/SC-right", "ED-right/SC-left", and "ED-right/SC-right" coalitions, each associated with a tax rate on the skill wage premium and on carbon emissions. Human capital accumulation regarding results in a wage differential that influences production and feedback on inequality. Through induced technical change, taxing emissions impacts the development of carbon-neutral production techniques, affecting output and ultimately feeding political attitudes. We study analytically and through numerical simulations the conditions resulting in the coexistence of multiple stable equilibria and the possible implications for carbon emissions. Three results are worth highlighting. First, when income inequality, captured by the skill premium, is the primary motivation to become more educated, left-wing ED coalitions generate higher inequality than their right-wing counterpart. Second, it is shown that the consensus required to implement a carbon tax is only the first part of the problem. Absolute decoupling requires a sufficiently strong response from technology favouring carbon-neutral production techniques. Finally, our model suggests that the SC dimension matters most under medium levels of inequality. When inequality is very high, as in the pre-war period, ED dominates the debate, and there is a right-wing SC consensus. As inequality fell during the 1950s and 1960s, socio-cultural aspects gained importance. This change led to a situation where "ED-left/SC-left", "ED-left/SC-right", "ED-right/SC-left", and "ED-right/SC-right" stable coalitions became possible, creating a disconnect between education and left-wing support. |
| Keywords: | political cleavages, climate change, inequality, human capital, carbon tax |
| JEL: | C62 D72 Q01 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:een:camaaa:2025-37 |
| By: | Nikolai Cook, Hugo Cordeau, Tongzhe Li, Taylor Wright |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:wlu:lcerpa:jc0159 |
| By: | Fausto Cavalli; Ahmad Naimzada; Daniela Visetti |
| Abstract: | We study a model encompassing economic, epidemiological and environmental domains, which feature reciprocal interactions. The economy is described by an overlapping generations model in which productivity and agents’ preferences are affected by the epidemiological situation. The evolution of an epidemic is represented through a susceptible-infected-susceptible model, in which the disease spread depends on the pollution level and can be reduced through the government expenditure. The pollution level increases during the production process and can be reduced by allocating resources to its abatement. Resources are collected through the capital taxation and the regulator must decide how to share them between healthcare and environmental protection. For the resulting model, we show the possible existence of a unique steady state, either characterized by the presence of epidemics or disease-free. We study its comparative statics depending on the policy parameter regulating the share of resources that is devoted to improve the epidemiological situation with respect to the environmental one. We investigate the emergence of dynamics non convergent toward the equilibrium, with possible complex and quasi-periodic trajectories. |
| Keywords: | OLG model, Epidemiological and environmental domains, Dynamical analysis, Bifurcations. |
| JEL: | C61 O11 Q56 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:mib:wpaper:555 |
| By: | McLaughlin, Eoin; Moro, Mirko; de Vries, Frans P. |
| Abstract: | The regulatory shift by competition and antitrust authorities, allowing limited industry collusion in sustainability-related investments to align markets with broader environmental and social objectives, suggests a re-evaluation of competition as a mechanism for promoting collective welfare. Drawing on Adam Smith's classical works as presented in The Wealth of Nations and The Theory of Moral Sentiments, this paper explores this issue through a historical lens while at the same time showing how this innately connects to the established literature on sustainable development, in particular justice and inclusive wealth. Combined, we discuss the role of modern competition policy in adjudicating and evaluating trade-offs in societies' overall welfare function that comprises negative externalities and natural capital. |
| Keywords: | Wealth of Nations, Justice, Investment collusion, Antitrust, Sustainable development |
| JEL: | B21 D63 K21 L41 Q01 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:hwuaef:320415 |
| By: | Stefano Di Bucchianico; Mario Di Serio; Matteo Fragetta; Giovanni Melina |
| Abstract: | A Bayesian factor-augmented interacted vector autoregression framework purified of expectations is employed to analyze how government spending shocks have impacted CO2 emissions in the United States from the 1980s to the pre-pandemic period. Consumption-generated emissions are found to have generally risen following fiscal expansions, although their elasticity to government spending has declined substantially over time—with the five-year elasticity dropping from about 0.5 in the early 1980s to 0.1 by 2019. In contrast, positive government spending shocks increased production-generated emissions in the early 1980s—with a five-year elasticity near 0.4—but reversed course by the 1990s, eventually reaching an elasticity of –0.5 by the end of the sample. Examination of time-varying interaction variables suggests that environmental regulation, tertiarization, and a larger share of spending on public goods can mitigate—or even reverse—the emissions growth associated with economic expansions driven by government spending. Furthermore, government consumption, rather than investment, is chiefly responsible for these shifts in emissions elasticities. |
| Keywords: | government spending, fiscal policy, CO2 emissions |
| JEL: | C32 C38 E62 Q54 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11960 |
| By: | Sulaimanova, Burulcha (OSCE Academy, Bishkek); Azhgaliyeva, Dina (Asian Development Bank); Holzhacker, Hans (Central Asia Regional Economic Cooperation Institute); Overland, Indra (Norwegian Institute of International Affairs) |
| Abstract: | This study investigates factors influencing household cooling choices in Central Asia, focusing on air-conditioning and fans/sunscreen films. Using data from the 2023 “Household Access to Energy in the Fergana Valley” survey in the Kyrgyz Republic, Tajikistan, and Uzbekistan, the analysis employs a multinomial probit model to examine socioeconomic, environmental, and power supply factors. Across the three countries, it finds that 48% of households use fans or sunscreen films (without air-conditioning), 30% use no cooling, and 22% use air-conditioning, noting significant variations between countries. Cooling degree days (CDD) significantly impact cooling appliance adoption, with higher CDD regions more likely to use cooling solutions. Power outages negatively affect air-conditioning adoption but not fans/sunscreen films, highlighting the importance of power stability. Robustness checks confirm that power supply reliability is crucial for cooling choices. The findings suggest policy implications, including the potential of solar panels to meet summer energy demands. This research underscores the need to address power sector reliability and climate adaptation in vulnerable regions. |
| Keywords: | heat waves; environmental extremes; infrastructural adaptations; power outages; cooling technologies; Central Asia |
| JEL: | Q41 Q54 R21 |
| Date: | 2025–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:ris:adbewp:0787 |
| By: | Howarth, Candice; Mcloughlin, Niall; Murtagh, Ellie; Kythreotis, Andrew P.; Porter, James |
| Abstract: | The integration of climate change mitigation and adaptation policy – or ‘climate policy integration’ (CPI) – is key to mainstreaming and harmonising both of these crucial strands of action in policy responses to climate change worldwide. However, little is known about how CPI can be applied in practice beyond single policy areas. This paper addresses this gap by considering how CPI can be better implemented in the context of responding to extreme heat, a climate change impact and risk that is growing in international importance. Using the heatwaves that occurred in the UK during the summer of 2022 as a case study, the paper explores the extent to which key stakeholders consider the integration of adaptation and mitigation to be important; perceptions of the feasibility of such integration; and the main enablers and challenges associated with integrating adaptation and mitigation. They find appetite for integrating mitigation and adaptation but a lack of integration happening in practice. |
| Keywords: | heat risk; adaptation; migration; integration; resilience; climate resilient net zero |
| JEL: | Q54 Q58 |
| Date: | 2024–10–21 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128525 |
| By: | Anubhab Pattanayak ((corresponding author) IIT-Kharagpur, Kharagpur, India); K.S. Kavi Kumar (Professor, Madras School of Economics, Chennai, Tamil Nadu, India, 600025) |
| Abstract: | Non-availability of official, single-source, reliable and easy to access weather data at administrative regions such as states and districts poses significant challenges for Indian social science research community interested in climate impact research and policy. This paper provides a brief summary of evolution of access to weather data in the public domain over the past three decades in India. Gridded datasets being the standard for making available the official weather information, the paper discusses the concepts and procedures involved in using such data products to arrive at weather information at various administrative scales. A transparent approach to spatially interpolate the gridded weather data (supplied by IMD) on temperature and rainfall to determine state and district level estimates of weather over the period 1951 to 2021 is presented. The paper further analyzes the long-term trends and changes in the distribution of annual and intra-annual temperature and rainfall at the All India level and at one sub-national state (Tamil Nadu) level across multiple time-scales (i.e., 1951-1980, 1981-2010, and 2011-2021) using traditional methods such as Mann-Kendall tests and Sen’s Slope estimates. The paper further reports the climate trends across Tamil Nadu districts over the period 1951 to 2021 using the visually appealing Innovative Polygon Trend Analysis. |
| Keywords: | Weather Data; Climate Trends; Mann-Kendall; IPTA |
| JEL: | C14 C23 Q54 |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:mad:wpaper:2025-281 |
| By: | Jean-Guillaume Sahuc; Barbara Annicchiarico; Rebecca Clipal |
| Abstract: | We study intergenerational differences in household balance sheets in the United States and the euro area and assess their implications for the green transition. Using harmonized microdata from the Survey of Consumer Finances and Household Finance and Consumption Survey , we document how asset composition, debt dynamics, and liquidity vary across age groups and regions. U.S. households, especially older cohorts, hold more financial and liquid assets, while euro-area households concentrate wealth in housing and deleverage earlier. These structural differences shape the capacity to finance climate investments, particularly deep housing retrofits that involve large upfront costs. We find that a majority of U.S. households aged 55+ could self-fund such renovations, compared to less than half of their euro-area counterparts. Liquidity constraints are more binding for younger cohorts in both regions. Our findings underscore the importance of accounting for intergenerational balance sheet heterogeneity indesigning equitable environmental and economic policies. |
| Keywords: | Household finance, surveys, overlapping generations, transatlantic comparison, green investments |
| JEL: | G51 N20 Q52 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:drm:wpaper:2025-30 |
| By: | Liesebach, Mirko (Ed.); Tröber, Ute (Ed.) |
| Abstract: | Vom 11. bis 13. September 2024 richteten die Sektion Forstgenetik / Forstpflanzenzüchtung, die Deutsche Dendrologische Gesellschaft (DDG) und die Forstliche Versuchsanstalt Baden-Württemberg (FVA) die 8. Tagung in Freiburg im Breisgau / Baden-Württemberg aus. Die dreitägige Veranstaltung stand unter dem Thema "Wald der Zukunft - Beitrag von Forstgenetik und Forstpflanzenzüchtung". Anlass für die Tagung gab es mehr als genug. Der Klimawandel wird immer offensichtlicher. Die Auswirkungen der in weiten Teilen Deutschlands zunehmend zu trockenen und zu warmen Jahre stellen Waldbesitzer und -bewirtschafter vor Herausforderungen. Mit der Veranstaltung versuchten wir auf einige der anstehenden Fragen eine Antwort zu geben. Auf der Tagung wurden 51 Vorträge und Poster vorgestellt, die 10 Blöcken zugeordnet waren: Trockenstresstoleranz, biotischer Stress, Alternativbaumarten, forstliches Vermehrungsgut, neue Saatgutquellen, genetische Analysen, Rot-Eiche I und II, Anpassung und innovative Ansätze... |
| Abstract: | The 8th meeting of the "Section Forest Genetics / Forest Tree Breeding", the German Dendrology Society (DDG) and the Forest Research institute Baden-Württemberg (FVA) took place in Freiburg im Breisgau / Baden-Württemberg from September 11-13, 2024. The focus of the three-day lecture event was on " Forests of the Future - Contribution of Forest Genetics and Forest Tree Breeding". There were more than enough reason for the conference. Climate change is becoming more and more obvious. The effects of the excessively dry and warm years in large parts of Germany pose challenges for forest owners and managers. With the meeting we tried to answer some of the questions. At the conference, 51 presentations were given, which were assigned to 10 blocks: drought stress tolerance, biotic stress, alternative tree species, forest reproductive material, new seed sources, genetic analyses, red oak I and II, adaptation and innovative approaches... |
| Keywords: | Forstgenetik, Forstpflanzenzüchtung, Klimawandel, Nachhaltigkeit, Forest genetics, forest tree breeding, nature conservation, climate change |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:jhtire:319870 |
| By: | Lesman Ghazaryan (EESC-GEM Grenoble Ecole de Management, USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc); Corinne Faure (EESC-GEM Grenoble Ecole de Management); Joachim Schleich (EESC-GEM Grenoble Ecole de Management, Fraunhofer ISI - Fraunhofer Institute for Systems and Innovation Research - Fraunhofer-Gesellschaft - Fraunhofer); Mia M. Birau (EM - EMLyon Business School) |
| Abstract: | Pay-As-You-Throw (PAYT) tariff schemes, in which households pay based on their waste generation, are proposed as solutions to the growing worldwide challenge of municipal solid waste management. However, public acceptance of such schemes remains low. Using a one-factor between-subject experimental survey design with 620 participants, we test the effects of environmental and accountability appeals and of individual characteristics in shaping preferences for a proposed PAYT scheme in Grenoble, France. We find a positive effect of the accountability appeal and no effect of the environmental appeal on preference for the PAYT scheme compared to a fixed-fee scheme. Additional analyses suggest that accountability appeals are particularly effective for individuals with below-median age, above-median income, and at least a master's degree, indicating that policymakers should target younger and educated citizens with these appeals in PAYT campaigns. Future research could test the applicability of these findings in other settings and for other waste-related interventions. |
| Keywords: | Pay-as-you-throw, Unit pricing of waste, Waste management, Communication strategies, Public acceptability, Survey experiment |
| Date: | 2025–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:gemptp:hal-05083048 |
| By: | Batabyal, Amitrajeet |
| Abstract: | We analyzed water pollution in the Ganges River caused by tanneries in Kanpur, India. Specifically, we examined the merits of a claim made recently in the literature that unitizing or merging polluting tanneries can improve water quality in the Ganges. We modeled the n≥2 polluting tanneries in Kanpur as a Cournot oligopoly and derived the equilibrium output of leather, profits, and social welfare. Second, we permitted m |
| Keywords: | Ganges River, Social Welfare, Tannery, Unitization, Water Pollution |
| JEL: | G34 Q25 Q28 |
| Date: | 2024–12–16 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124763 |
| By: | Kalantzis, Fotios; Revoltella, Debora; Gatti, Matteo |
| Abstract: | Leveraging data from the European Investment Survey (EIBIS) spanning 2019-2022, encompassing the pandemic crisis and the 2022 energy price shocks, our study investigates how uncertainty influence firms' climate action investment decisions in Europe at a time of one of the largest energy shocks in recent history. Our results offer insights into firms' investment behaviors across various dimensions including country, sector, and firm size. We find that increasing energy prices drove European firms to invest in both energy efficiency and climate action investments to maintain competitiveness, albeit with a more pronounced effect on the former. By contrast, uncertainty deters firms from investing in climate action and reaching their potential, making them prioritize short-term challenges over long-term climate concerns. Additionally, we observe that firm characteristics, notably energy intensity, play a significant role in shaping investment decisions, with firms operating in energyintensive sectors demonstrating a greater likelihood to invest in climate action regardless of uncertainty levels. Our results reveal the challenges and trade-offs that firms face when investing in climate action under uncertainty and high energy prices and emphasize the need for consistent and supportive policies to foster a green transition. |
| Keywords: | European Investment Bank Investment Survey, Uncertainty, Energy efficiency, Corporate investments, Energy costs, Climate Action |
| JEL: | D22 P28 Q5 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:eibwps:319634 |
| By: | Hasna, Z.; Hatton, H.; Jaumotte, F.; Kim, J.; Mohaddes, K. |
| Abstract: | This paper investigates how climate policies affect low-carbon innovation (as measured by patents) and assesses the link between such innovation and economic activity. Climate policies, including international cooperation, spur both specific and overall innovation, with regulations, emissions-trading systems, and expenditure measures such as R&D subsidies and feed-in tariffs being particularly impactful. In turn, low-carbon innovation raises economic activity as much as other types of innovation and past technological revolutions. However, the mechanisms are different: low-carbon innovation increases capital accumulation, while other types of innovation increase total factor productivity (TFP). |
| Keywords: | Low-Carbon Innovation, Growth, Climate Policies, Climate Change, Porter Hypothesis |
| JEL: | F64 H23 O33 O44 Q55 Q56 Q58 |
| Date: | 2025–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camjip:2516 |
| By: | Fernando M. Aragon, Mahyar Rezazadeh (Simon Fraser University) |
| Abstract: | This paper examines how adaptation shapes the impact of extreme heat on labor productivity. We use global data on competitive runners, combined with highresolution weather information, to estimate how race-day heat affects running speed. Consistent with adaptation, we find that runners from hotter countries are significantly less affected by extreme temperatures. The performance gap is most pronounced in endurance events and narrows in high-stakes races, suggesting that both physiological factors and incentives may play a role. Our findings contribute to the literature on climate adaptation by providing evidence that prior exposure reduces sensitivity to heat. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:sfu:sfudps:dp25-02 |
| By: | Nikolaos Kalyviotis |
| Abstract: | Road infrastructure significantly impacts how people move and live and the emissions associated with travel behaviour. The design of roads is crucial in mitigating emissions. This paper reviews existing transport life cycle assessment tools that have been developed by various entities and can be used for roads. The review focuses on data sources used in the analysis, methods of estimating carbon dioxide emissions, the underlying software that is used to make the estimates, and any limitations of the tools. A critical issue identified in life cycle assessment analysis is the erroneous assumption that relationships within the assessed systems are linear. The current tools focusing on transport infrastructure assessment were developed based on the linear assumptions and limitations of the life cycle assessment analysis. A significant research gap identified is that existing life cycle assessment tools are not integrated with the design process. The analysis is an add-on process to design and the results of an assessment are not then used iteratively to enhance the design. A case study on aggregate road design found that road area significantly correlates with emissions, slope adjustments reduce emissions, and soil type impacts emissions, suggesting future research should explore non-linear relationships for sustainable road design. |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2506.13896 |
| By: | Jhonatan Vicuna (Central Reserve Bank of Peru); Renzo Castellares (Central Reserve Bank of Peru) |
| Abstract: | This paper estimates the impact of natural events on the economic vulnerability of Peruvian households, with a focus on the role of frequency and severity. We combine detailed, high-frequency administrative data from emergency records at the district level provided by the National Institute of Civil Defense (INDECI) and nationally representative household survey data to construct householdlevel exposure measures. We define frequency as the number of distinct weeks with recorded events in a household's district of residence, while severity is based on the number of individuals affected and displaced by each event. To account for the potential effect of treatment lags, we employ a recent differences-in-differences estimator, an approach not yet widely applied in the natural disaster literature and particularly relevant in contexts where such events are frequent and varied. While natural events overall show limited effects on economic outcomes, we find that high-frequency and high-severity exposure is associated with slower income and consumption growth, with effects that persist and even intensify over time. These findings suggest that households display a degree of resilience that weakens when events are too frequent or severe. We also document heterogeneity by type of natural event: low temperature episodes reduce income growth, whereas precipitation-related events might have positive economic effects. |
| Keywords: | economic vulnerability; household welfare; natural disasters; natural events; shocks |
| JEL: | D12 I32 O12 Q54 |
| Date: | 2025–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:gii:giihei:heidwp07-2025 |
| By: | Bowman, Maria; Ferraro, Paul J.; Fuller, Kate Binzen; Gramig, Benjamin; Mosheim, Roberto; Njuki, Eric; Pratt, Bryan; Rejesus, Roderick; Rosenberg, Andrew |
| Abstract: | The use of soil health and conservation practices has the potential to benefit society and agricultural producers through improvement in soil health, water quality, agricultural productivity, and other ecosystem services. However, there are costs associated with implementing such practices, and the net benefit to the producer and to society depends on how the practice is implemented, the production system, weather, climate, soils, and other variables. In addition, the factors affecting a producer’s decision to implement soil health and conservation practices are complex. These factors include expectations about short- and long-run profitability, the risk and uncertainty associated with the practices, and behavioral factors such as producer willingness to take on risk, peer effects, and stewardship identity. This report provides conceptual framing and background on soil health management, producer decision making, and economic outcomes of soil health and conservation practices; documents trends in the adoption of key soil health and conservation practices on cropland; reviews key findings on the economic effects of soil health and conservation practices; and provides new results on the relationship between selected practices and the yields and costs at the field level and farm-level productivity and technical efficiency. |
| Keywords: | Crop Production/Industries, Farm Management, Institutional and Behavioral Economics, Land Economics/Use, Production Economics, Productivity Analysis, Research Research Methods/Statistical Methods, Resource/Energy Economics and Policy |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:ags:uersrr:358985 |
| By: | Maxime Sauzet |
| Abstract: | Can environmentally-minded investors impact the cost of capital of green firms even when they invest through financial intermediaries? To answer this and related questions, I build an equilibrium intermediary asset pricing model with three investors, two risky assets, and a riskless bond. Specifically, two heterogeneous retail investors invest via a financial intermediary who decides on the portfolio allocation that she offers between a green and a brown equity. Both retail investors and the financial intermediary can tilt towards the green asset, beyond pure financial considerations. Perhaps surprisingly, the green retail investor can have significant impact on the pricing of green assets, even when she invests via an intermediary who does not tilt: a sizable green premium --that is, a lower cost of capital-- can emerge on the equity of the green firm. This good news comes with important qualifications, however: the green retail investor has to take large leveraged positions in the portfolio offered by the intermediary, her strategy must be inherently state-dependent, and economic conditions or the specification of preferences can overturn or limit the result. When the financial intermediary decides (or is made) to tilt instead, the impact on the green premium is substantially larger, although it is largest when preference are aligned with retail investors. I also study what happens when the green retail investor does not know the weights in the portfolio offered by the intermediary, the potential impact of greenwashing, and the effect of portfolio constraints. Taken together, these findings highlight the central role that financial intermediaries can play in channeling financing (or not) towards the green transition. |
| Keywords: | sustainable finance, intermediary asset pricing, index investing, portfolio choice |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11944 |
| By: | Federico Fabio Frattini; Francesco Vona; Filippo Bontadini; Italo Colantone |
| Abstract: | What are the job multipliers of the green industrialization? We tackle this question within EU regions over the period 2003-2017, building a novel measure of green manufacturing penetration that combines green production and regional employment data. We estimate local job multipliers of green penetration in a long-difference model, using a shift-share instrument that exploits plausibly exogenous changes in non-EU green innovation. We find that a 3-years change in green penetration per worker increases the employment-to-active population ratio by 0.11 pp. The effect is: persistent both in manufacturing and outside manufacturing; halved by agglomeration effects that increase the labour market tightness; stronger for workers with high and low-education; and present also in regions specialized in polluting industries. When focusing on large shocks in a staggered DiD design, we find ten times larger effects, particularly in earlier periods. |
| Keywords: | green industrialisation, local job multipliers, employment effects of the green transition, shift-share IV design, difference-in-differences |
| JEL: | J21 O14 R11 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11939 |
| By: | Emiliano Basco (Central Bank of Argentina); Diego Elías (Central Bank of Argentina); Luciana Pastore (Central Bank of Argentina); Maximiliano Gómez Aguirre (Central Bank of Argentina) |
| Abstract: | Agriculture, and especially soybean production, has a critical role in Argentina’s economy, as a major contributor to GDP and export revenue. This paper studies the impact of climate variability on soybean yields in Argentina using a novel department-level dataset spanning 1980–2023. We estimate a fixed effects spatial error model (SEM) to quantify the effects of weather shocks– measured by extreme heat, precipitation, and ENSO phases–while controlling for economic and technological factors such as seed technology and relative prices. Our results show that extreme heat significantly reduces yields, while moderate rainfall boosts them up to a nonlinear threshold. El Niño phases increase yields, whereas La Niña events are detrimental. Technological adoption and favorable price signals also enhance productivity. These findings highlight the importance of accounting for both climate dynamics and spatial distributions when estimating agricultural outcomes. Time series models provide a strong empirical basis for forecasting soybean yields and informing policy decisions under increasing climate uncertainty. These models can be employed as effective tools for anticipating yield outcomes under different climate scenarios and utilized in stress test exercises. This work provides valuable insights for policymaking decisions, contributing to prepare for potential economic impacts stemming from climate risks on Argentina’s agricultural sector. |
| Keywords: | Soybean Yields; Argentina; Forecasting; Model Selection |
| JEL: | Q10 Q12 C13 C32 C33 |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:bcr:wpaper:2025117 |
| By: | Tröster, Bernhard; Papatheophilou, Simela; Küblböck, Karin |
| Abstract: | Global demand for specific mineral raw materials is increasing, driven largely by the energy and digital transition. Although the EU is making efforts to boost domestic supply, it will remain highly dependent on imports of those minerals from third countries to achieve strategic autonomy in manufacturing capacities for both transition-related and military sectors in Europe. As global competition over access to raw materials intensifies, the EU is adapting its policy approaches in response. This briefing paper examines how geopolitical dynamics and evolving EU priorities are shaping EU's external raw materials policies. It assesses the use of different trade policy instruments and raw materials diplomacy, including new approaches such as the introduction of Strategic Projects, Raw Materials Club or Strategic Partnerships on raw materials. These partnerships reflect the EU's broader goal of strengthening manufacturing in Europe by integrating raw materials sectors from partner countries into these new value chains. However, we find that the incentives offered by the EU - such as more sustainable mining, increased investment, and mutual economic gains - remain non-binding and challenging to implement in practice. This is largely due to the lack of enforceable sustainability provisions and the absence of a coherent strategy to support investment and value-added processing in the raw materials sector. At the same time, traditional tools such as free trade agreements and regulatory cooperation remain central. These instruments must balance EU interests with the development needs of partner countries, particularly by allowing policy space for industrialization strategies and ensuring that environmental and social standards are effectively implemented. |
| Keywords: | EU raw materials policy, Critical Raw Materials, Critical Raw Materials Act (CRMA), Strategic Partnerships, Energy and Raw Materials Chapters in Free Trade Agreements |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:oefseb:319648 |
| By: | Kumar, Suresh; Birthal, Pratap S.; Kumar, S.; Yadav, R. K. |
| Abstract: | Sustaining livelihoods in fragile environments, characterized by land degradation amidst the increasing threat of climate change, is a significant challenge. Soil salinity and other forms of land degradation severely affect crop yield and food supply. Hence, both preventive and curative strategies are essential for managing salt-affected and waterlogged saline soils. To effectively promote such strategies, policymakers need robust evidence on their socioeconomic impacts. This study provides evidence of the economic impact of subsurface drainage technologies. In addition, it identifies constraints faced by farmers and project implementation agencies during the execution and operation of the subsurface drainage system. By highlighting these challenges, this study offers valuable insights into the practical difficulties in implementing strategies for reclamation of waterlogged saline soils. |
| Keywords: | Climate Change, Crop Production/Industries, Food Security and Poverty, Land Economics/Use, Sustainability |
| Date: | 2025–02–03 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icar24:358870 |
| By: | Matteo Crosignani; Martin Hiti |
| Abstract: | The Federal Reserve’s mission and regional structure ask that it always work to better understand local and regional economic activity. This requires gauging the economic impact of localized events, including natural disasters. Despite the economic significance of natural disasters—flowing often from their human toll—there are currently no publicly available data on the damages they cause in the United States at the county level. |
| Keywords: | natural disasters; economic activity |
| JEL: | E32 Q54 |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fednls:101188 |
| By: | Schuß, Eric; Thöne, Michael |
| Abstract: | Im Zuge der durch die Bundesregierung formulierten Klimaschutzziele haben sich auch zahlreiche Kommunen in Deutschland eigene ambitionierte Ziele zur Reduzierung der Treibhausgase gesetzt. Als lokale Akteure können die Kommunen oftmals besser als übergeordnete Ebenen einschätzen, in welchen Maßnahmen vor Ort das größte Potenzial zur Einsparung von Treibhausgasen ruht. Aufgrund ihrer zentralen Rolle bei der Erreichung der Klimaschutzziele betrachtet der vorliegende Projektbericht explizit die Rolle der Kommunen und den Investitionspfad, der nötig ist, um ihren Kapitalstock klimaorientiert zu transformieren. Hierzu werden mehrere finanzwissenschaftliche Instrumente vorgestellt, die dabei helfen sollen, die finanziellen Ressourcen, die für den Klimaschutz und die Klimaanpassung zur Verfügung stehen, auszuweiten und effizient(er) einzusetzen. Im Zentrum steht dabei der Vorschlag eines wirkungsorientierten Förderbudgets, das den Kommunen langfristig als Finanzierungsgrundlage zur Verfügung stehen soll, um in die klimaorientierten Maßnahmen investieren zu können, die aus Sicht der Kommunen am dringlichsten sind. Dieser Vorschlag sieht vor, die Klimawirkung einer Maßnahme in den Mittelpunkt bei der Frage zu stellen, in welche Maßnahmen investiert werden soll. Gleichzeitig soll dadurch die Autonomie der Kommunen im Rahmen der Auswahl der Maßnahmen gestärkt werden. Als zweite wichtige Frage wird untersucht, welche klimaorientierten Maßnahmen in den Kommunen überhaupt ergriffen werden müssen, um die Klimaziele zu erreichen. Basierend auf der bisherigen Forschung wurde hierzu eine Übersicht mit den wichtigsten Maßnahmen in den Investitionsbereichen Verkehr, Energie und Gebäude sowie Grund und Boden erstellt. Dabei wurde auch geprüft, anhand welcher Indikatoren Fortschritte in den genannten Bereichen beschrieben und welche Indikatoren mit Daten auf kommunaler Ebene gefüttert werden können. Dadurch wird ersichtlich, inwiefern und in welchen Investitionsbereichen und bei welchen Maßnahmen die Datengrundlage noch ausbaufähig ist. Diese Fragen sind Grundlage für eine konsistente "Gesamtperspektive 2045" als Wissens-, Planungs- und Entscheidungsgrundlage für die Kommunen. Durch dieses Projekt wird insbesondere deutlich, dass für die Erreichung der Klimaziele nicht nur die Durchführung einzelner Maßnahmen wichtig ist, sondern vor allem das Verfolgen eines zusammenhängenden Gesamtkonzepts. Gleiches gilt für eine entsprechende Datengrundlage, mit der die klimaorientierte Investitionstätigkeit vor allem auf kommunaler Ebene hinsichtlich seiner Klimaschutzwirkung sowie seiner Wirkung auf Wirtschaftskraft, öffentliche Finanzen und den Arbeitsmarkt fundiert evaluiert werden könnte. |
| Abstract: | In the context of the climate protection targets of the German federal government, numerous municipalities have set their own ambitious targets for reducing greenhouse gases. As local actors, municipalities are often in a better position than superior levels to assess which local measures offer the greatest potential for reducing greenhouse gases. Due to their central role in achieving climate protection targets, this project considers explicitly the role of the German municipalities and the investment pathway that is required to transform their capital stock in a climate-oriented manner. For this purpose, several financial instruments are presented that should help to expand the financial resources available for climate change mitigation and adaptation and to use them more efficiently. At the centre of this project, we consider the proposal of an impact-oriented funding budget, which should provide a long-term financing basis to local authorities to enable them to invest in climate-oriented measures that are most urgent from the local authorities' perspective. This proposal is aimed at placing the climate impact of a measure at the centre of the question as to which measures should be invested in. At the same time, the funding budget is intended to strengthen the autonomy of local authorities in the selection of measures. The second important question is which climate-oriented measures need to be used in the municipalities in order to achieve the climate targets. Based on previous research, an overview of the most important measures in the investment areas of transport, energy and buildings as well as land and soil was elaborated. In this context, it was examined which indicators can be used to describe progress in these areas and whether data at the municipal level is available to empirically assess this progress. This should underline to what extent and in which investment areas and for which measures the data basis should be expanded. These questions form the basis for a consistent "Overall Perspective 2045" as a knowledge, planning and decision-making basis for the municipalities. This project highlights that it is not only the implementation of individual measures that is important for achieving the climate targets, in particular, a coherent overall concept is very essential. The same applies to a corresponding data basis that can describe the climate-oriented investment activities, especially at the municipal level, and that also helps to evaluate the effects of local climate protection measures on economic development, public finances and the labour market. |
| Keywords: | Climate change and climate adoption, municipalcapital stock, investments, impact-oriented funding budget, Klimaschutz und -anpassung, kommunaler Kapitalstock, Investitionen, wirkungsorientiertes Förderbudget |
| JEL: | H71 Q58 R11 R53 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:fifore:319879 |
| By: | Pagel, Jeff; Sileci, Lorenzo |
| Abstract: | One potential nature-based solution to jointly address poverty and environmental concerns is large-scale tree planting. This study examines the National Greening Program (NGP) in the Philippines, a major tree planting initiative involving 80, 522 localized projects that directly or indirectly generated hundreds of thousands of jobs. Utilizing a dynamic difference-in-differences approach that leverages the staggered implementation of the NGP, we find a significant and sizable reduction in poverty, measured via traditional and remotely sensed indicators. The NGP also spurred structural shifts, notably decreasing agricultural employment while boosting unskilled labor and service sector jobs. Our analysis estimates that the NGP sequestered 71.4 to 303 MtCO2 over a decade, achieving a cost efficiency of $2 to $10 per averted tCO2. These findings underscore the potential of tree planting as a dual-purpose strategy for climate mitigation and poverty alleviation. |
| JEL: | Q23 Q56 I32 |
| Date: | 2024–07–29 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128527 |
| By: | Ozili, Peterson K |
| Abstract: | This study examines the effect of CO2 emissions from gaseous fuel consumption on financial inclusion through physical financial access points in non-crisis years. The findings reveal that higher CO2 emissions are associated with a high level of financial inclusion in European, Asian and developing countries, implying that CO2 emissions do not decrease the level of financial inclusion. CO2 emissions decrease the level of financial inclusion in African countries that have strong institutions and a high lending rate. CO2 emissions also decrease the level of financial inclusion in developing countries that have a high lending rate. The implication is that policymakers and banks in European, African and Asian countries should reduce their reliance on physical financial access points to increase financial inclusion. They should adopt digital financial inclusion strategies to mitigate the adverse effect of CO2 emissions on the physical financial access points provided by banks to increase financial inclusion. |
| Keywords: | climate change, CO2 emissions, financial inclusion, institutional quality, inflation, interest rate, financial access points, bank branch, ATM, Africa, Asia, Europe, developing countries. |
| JEL: | G21 Q01 Q50 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125032 |
| By: | Aragie, Emerta A.; Thurlow, James |
| Abstract: | Climate and weather shocks pose significant threats to crop-livestock systems, leading to economic losses and humanitarian crises. Utilizing a modeling framework that innovatively integrates the crop and livestock systems, this study examines the interactions and dynamic adjustments within these systems following weather shocks, using Ethiopia as a case study. We also evaluate the effectiveness of various adaptation strategies in sustaining farm incomes, food security, and welfare. Results show unique effects on the crop and livestock sectors resulting from a joint shock on the two systems. While food crops experience a strong and immediate growth effect that fades quickly, the livestock sector faces the full impact of the shock a year later, with the effect persisting to some degree. We also find diverging economic and livestock system adjustment trajectories from the separate shocks to the crop and livestock systems. Further, the intervention options analyzed show contrasting impacts on various outcome indications, with only the resilient crop intervention causing sector-indifferent impacts. Our findings emphasize the importance of proactive measures to enhance the resilience of crop-livestock systems, with implications for policy and practice aimed at safeguarding food security and livelihoods in semi-subsistence economies. |
| Keywords: | crops; economics; livestock; weather; Ethiopia; Africa; Eastern Africa |
| Date: | 2024–09–24 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:152379 |
| By: | Vinod Joseph Kannankeril Joseph (Max Planck Institute for Demographic Research, Rostock, Germany); Risto Conte Keivabu (Max Planck Institute for Demographic Research, Rostock, Germany); Raya Muttarak; Emilio Zagheni (Max Planck Institute for Demographic Research, Rostock, Germany); Stefano Mazzuco |
| Abstract: | It is well-established that deaths peak in winter and show throughs in summer. However, it remains unclear how mortality patterns will unfold as the climate warms, bringing fewer cold days and more hot days. One concern is “harvesting, ” where a short-term surge in deaths among the most vulnerable people is then followed by a period with fewer deaths than usual because those individuals would have died soon anyway. Under global warming, it is possible that higher mortality rates in summer will result not only from an increase in extreme heat events but also from a seasonal shift in excess deaths that would have previously occurred in winter. Combining mortality data from the Italian Statistical Office with temperature data from the Copernicus Data Store for Italy at the provincial level from 2011 to 2019, we employ Poisson regression models to estimate the effects of temperature extremes on mortality among individuals aged 60 and above. The results reveal that temperatures outside the comfort zone, both lower and higher, are associated with increased monthly mortality rates, with the strongest effects seen in the most extreme temperature ranges. We find evidence of a harvesting effect, particularly for moderately warm days (≥ 85th to |
| Keywords: | Italy, climate, mortality |
| JEL: | J1 Z0 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:dem:wpaper:wp-2025-018 |
| By: | Kim, Keuntae; Volker, Jamey M.B.; McGinnis, Claire; Zepeda, Melissa; Barajas, Jesus M. |
| Abstract: | In 2018, pursuant to Senate Bill (SB) 743 (2013), the Governor’s Office of Planning and Research (OPR) and the California Natural Resources Agency promulgated regulations and technical guidance that eliminated automobile level of service (LOS) as a transportation impact metric for land development projects under the California Environmental Quality Act (CEQA), and replaced it with Vehicle Miles Traveled (VMT). The authors investigated the equity effects of VMT mitigation measures and developed a framework for evaluating those effects at the project level. The authors then applied the framework to two highway expansion case studies in California. They found that most VMT mitigation would be implemented at least partially within the project impact areas, as well as some disadvantaged communities, but would generally benefit communities outside of the project area, too. Most of the proposed mitigation measures would not displace existing residences or businesses or pose a significant risk of gentrification. Many of the measures showed substantial potential to improve accessibility to jobs, though less potential to improve accessibility to grocery stores. Community engagement and empowerment was harder to gauge. Overall, the five-part framework can provide a first-cut assessment of the equity effects of VMT mitigation measures during the environmental review phase of VMT-generating projects, like roadway expansions. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, VMT, mitigation, equity, environmental justice, induced travel, gentrification, displacement, accessibility |
| Date: | 2025–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt3vq3k9h3 |
| By: | Czyżewski, Bazyli; Poczta-Wajda, Agnieszka; Matuszczak, Anna; Smędzik-Ambroży, Katarzyna; Guth, Marta |
| Abstract: | CONTEXT. The European Union actively supports and promotes the development of more sustainable and resilient farming systems and contributes to the significant expansion of organic farming. Despite the considerable growth of the organic agricultural sector, this process faces several structural challenges, especially in countries with fragmented agriculture, such as Romania, where small-scale farming dominates. Small-scale farmers are quite reluctant to transition to organic farming even despite financial incentives. OBJECTIVE. This study aims to understand small-scale farmers’ reluctance to adopt organic farming by combining embeddedness theory, which links economic activities to social structures, with the Theory of Planned Behaviour (TPB). METHODS. A survey of 150 small-scale farms in Romania's Centru region was conducted in 2023 using semi-structured face-to-face questionnaires. The research framework combines embeddedness theory and the extended TPB using structural equation modelling and simultaneous confirmatory factor analysis. RESULTS AND CONCLUSIONS. It was demonstrated that network embeddedness exerts the most significant influence on pro-ecological behavioural intentions when considered in the context of other TPB constructs. However, this positive impact is partially offset by the negative impact of embeddedness at the farm level. Our research results suggest that changing the approach of small-scale farmers to organic farming requires strengthening network embeddedness through workshops, training sessions, rallies, and meetings that would highlight the benefits of organic farming. SIGNIFICANCE. We shed more light on the behavioural drivers of adopting organic practices in small-scale framing and argue that the relational embeddedness construct represents a significant extension of the TPB framework for agri-environmental studies. |
| Keywords: | organic farming, Romanian agriculture, structural equation modelling, extended TPB, social embeddedness |
| JEL: | Q15 Q18 Q56 |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123832 |
| By: | Guglielmo Maria Caporale; Anamaria Diana Sova; Robert Sova |
| Abstract: | This study provides new panel evidence on the effects on climate risk on financial stability in the European banking sector using yearly data over the period 2000-2021. More specifically, the impact of a number of climate risk indices on the Z-score (capturing the probability of default of a country’s banking system) is assessed after controlling for various macro and bank-related factors. The estimation is carried out using the GMM method. The analysis is also performed for two subsets of countries, namely EU (European Union) and non-EU ones. Finally, the role of governance quality is investigated. The results suggest that higher emissions growth tends to be associated with lower Z-scores, which indicate lower financial stability. However, the size of this effect differs between EU and non-EU European countries, suggesting that differences in policies, regulatory environments, and economic structures may influence how emissions growth affects financial stability across these areas. Our analysis also shows that the climate risk–financial stability relationship is affected by the quality of governance since the WGI (World Governance Index) does not appear to have a mitigating effect in non-EU countries with poorer governance. |
| Keywords: | climate risk, financial stability, Z-score, Europe, panel data, GMM (Generalized Method of Moments) estimator |
| JEL: | C33 G12 G18 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11958 |
| By: | Inaki Veruete Villegas (Charles University, Institute of Economic Studies at Faculty of Social Sciences & The Environment Center, Czech Republic & BETA, CNRS, University of Strasbourg); Milan Scasny (Charles University, Institute of Economic Studies at Faculty of Social Sciences and The Environment Center, Czech Republic.) |
| Abstract: | The current geopolitical landscape, exemplified by the Russian invasion of Ukraine, has heightened concerns about energy security. This study delves into the nexus of energy security and natural gas utilization in the Czech Republic, offering a thorough analysis amid these turbulent times. Despite the fact that the environment/energy-extended input-output models have been significantly improved, they still fail to fully capture a sector’s role in an economic system characterized as a network of sectors as they primarily analyze sectors as both ends of the supply chain, ignoring a significant role of transmission sectors. We overcome this gap by applying a multidimensional approach to scrutinize the energy supply chain in order to assess the repercussions of heightened natural gas prices post-Russian invasion. Specifically, we combine domestic energy input-output demand and price models to assess the economic impacts under constrained alternative energy scenarios, particularly relevant given the challenges of replacing Russian gas. Additionally, leveraging network analysis techniques —node and edge betweenness centrality—and the hypothetical extraction method are used to identify critically important structural elements within the country’s natural gas consumption chain. While the former pinpoints vital transmission sectors based on gas flow, the latter gauges sectoral significance by simulating complete disconnections, without being influenced by the number of times the sector appears in the supply chain path. Last, we develop a complete map of the embodied energy flows. Structural Path Analysis traces intermediate product flows, enabling the quantification of embodied energy across the supply chain and its representation as a tree-like structure. Our findings reveal significant implications of natural gas price fluctuations on key manufacturing industries, notably those engaged in international trade which are vulnerable to energy supply and price disruptions. We emphasize the critical role of sectors providing essential household goods and services, like energy, food, and transportation. Strategic interventions may be necessary to safeguard domestic demand and the competitive edge of vital sectors like automotive. As energy security remains a dynamic and evolving challenge, our research contributes significantly to the ongoing discourse on energy resilience, particularly for countries dependent on energy imports. Despite the fact our study is applied to the energy field, this framework is useful to analyze the footprint of any inputs, including usage of critical materials, environmental inputs, or emissions, which face similar complexities. |
| Keywords: | Energy-Extended Input-Output Aanalysis; Energy Supply Chain; Natural Gas Footprint; Embodied Energy; Betwenness Centrality; Hypothetical Extraction; Structural Path Analysis; Input-Output Price Model |
| JEL: | C67 Q43 H56 |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:fau:wpaper:wp2024_18 |
| By: | Jack Keane; Dennis Guignet |
| Abstract: | About 15% of the United States population (43 million people) rely on private wells for their primary source of potable water, and yet (in contrast to public water systems), no routine contaminant monitoring and water treatment is required. Water testing can be expensive, and the need for routine testing may often be unknown to residents, thus allowing potentially harmful water contaminants to go undetected. As such, estimates of the potential effects on households are needed to inform policies and programs to maintain safe potable groundwater wells. We attempt to help fill this gap by estimating hedonic property value models of homes in the Orlando, Florida Metropolitan Statistical Area. We link home transactions to home-specific private well tests conducted by the Florida Department of Health. We find that homes with groundwater well contamination experience a roughly 7% decline in value, and that this decrement persists for many years. Key Words: contamination; drinking water; groundwater; hedonic; housing; private well |
| JEL: | D6 Q51 Q53 R2 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:apl:wpaper:25-05 |
| By: | Kane, Papa Abdoulaye; Barry, Mamadou Bobo; Eissler, Sarah; Tall, Thiané; Camara, Astou Diao; Sall, Moussa; Fass, Simone; Bryan, Elizabeth; Ringler, Claudia |
| Abstract: | Goats are an important source of income, nutrition and resilience in Senegal. This study assesses opportunities to strengthen women’s agency, increase resilience to climate change, and improve nutrition along the various stages of goat value chains from the acquisition of feed resources and other inputs to processing, marketing and consumption of various goat products. The qualitative study finds that even though goats are more climate resilient than other livestock, climate change impacts on goat production and productivity are increasingly felt, particularly through impacts on feed resources. The study identified opportunities to strengthen women’s roles along the goat value chain, particularly in goat production and, to a lesser extent, in processing of goat products. Women and their families also benefit from the consumption of goat milk and women have some degree of control over income from the sale of goat products. Strengthening women’s agency in these nutrient-rich and relatively climate-resilient value chains will require improving their access to land resources and better animal feeds, supporting women’s groups and building women’s capacity for processing and marketing goat products, improving access to electricity for cold storage of goat products, and raising awareness regarding the nutritional benefits of goat products, especially for women and children. |
| Keywords: | climate change; goats; nutrition; climate resilience; value chains; women’s empowerment; gender; Senegal; Africa; Western Africa |
| Date: | 2024–09–17 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:152294 |
| By: | Francesco Ravazzolo (Norwegian Business School, Norway; Free-University of Bozen-Bolzano, Italy; Rimini Centre for Economic Analysis); Luca Rossini (University of Milan, Italy; Fondazione Eni Enrico Mattei, Italy); Andrea Viselli (University of Milan, Italy) |
| Abstract: | This paper introduces a novel Bayesian reverse unrestricted mixed-frequency model applied to a panel of nine European electricity markets. Our model analyzes the impact of daily fossil fuel prices and hourly renewable energy generation on hourly electricity prices, employing a hierarchical structure to capture cross-country interdependencies and idiosyncratic factors. The inclusion of random effects demonstrates that electricity market integration both mitigates and amplifies shocks. Our results highlight that while renewable energy sources consistently reduce electricity prices across all countries, gas prices remain a dominant driver of cross-country electricity price disparities and instability. This finding underscores the critical importance of energy diversification, above all on renewable energy sources, and coordinated fossil fuel supply strategies for bolstering European energy security. |
| Keywords: | Dynamic panel model, Mixed-frequency, Bayesian time series, Electricity Prices, Renewable energy sources, Market Integration |
| JEL: | C11 C32 C33 C55 Q40 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:rim:rimwps:25-06 |
| By: | Mondon, Camille; Trinh, Thi-Huong; Martín-Fernández, Josep Antoni; Thomas-Agnan, Christine |
| Abstract: | Given samples of density functions on an interval (a, b) of R, categorized according to a factor variable, we aim to test the equality of their mean functions both overall and across the groups defined by the factor. While the Functional Analysis of Variance (FANOVA) methodology is well-established for functional data, its adaptation to density functions (DANOVA) is necessary due to their inherent constraints of positivity and unit integral. To accommodate these constraints, we naturally use Bayes spaces methodology by mapping the densities using the centered log-ratio transformation into the L^2_0 (a, b) space where we can use FANOVA techniques. Many traditional contrasts in FANOVA rely on squared differences and can be reinterpreted as squared distances between Bayes perturbations within the densities space. We illustrate our methodology on a dataset comprising daily maximum temperatures across Vietnamese provinces between 1987 and 2016. Within the context of climate change, we first investigate the existence of a non-zero temporal trend of the densities of daily maximum temperature over Vietnam and then examine whether there is any regional effect on these trends. Finally, we explore odds ratio based interpretations allowing to describe the trends more locally. |
| Keywords: | Analysis of variance; Density data; Functional data; Log ratio; Odds ratio; Bayes spaces |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:130641 |
| By: | Baraldi, Anna Laura; Cantabene, Claudia; De Iudicibus, Alessandro; Fosco, Giovanni; Papagni, Erasmo |
| Abstract: | This paper examines how natural disasters shape electoral preferences by analyzing the impact of earthquakes in Italy between 1990 and 2019. Using a staggered Difference-in-Differences design, we estimate that affected municipalities are more likely to elect female, more educated, and older city councilors. Similar shifts occur for mayors. These effects persist across election cycles and are robust to alternative specifications. We rule out competing explanations such as changes in turnout or candidate supply. The findings suggest that crises push voters to favor politicians perceived as more competent, experienced, and prosocial. |
| Keywords: | Natural disasters; Electoral behavior; Local elections; Political selection; Gender and representation; Earthquakes; Difference-in-Differences; Voter preferences |
| JEL: | H70 H84 Q54 |
| Date: | 2025–06–19 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125061 |
| By: | Achmad Solikin (Economic Research Institute for ASEAN and East Asia (ERIA)); Rahayu Susanti (Economic Research Institute for ASEAN and East Asia (ERIA)); Mirrah Nabighah (Economic Research Institute for ASEAN and East Asia (ERIA)); Yasuyuki Mitsuhashi (Economic Research Institute for ASEAN and East Asia (ERIA)); Manami Uechi (Economic Research Institute for ASEAN and East Asia (ERIA)) |
| Abstract: | In ASEAN countries, interest in and publication of research on micro/nanoplastics (MNPs) have significantly increased, reflecting growing political will to understand, regulate, and reduce MNP-related risks. However, the research agenda has largely focused on MNP distribution, exposure pathways, characterisation, and material properties, with limited attention to their toxicological effects. Although there is a rise in MNP-health research outputs, there has not yet been a systemic or holistic application of the One Health approach to assess the health risks of MNPs, nor to evaluate the hazardous nature of MNP constituents and their impacts on humans, animals, and ecosystems. This policy brief calls for the mainstreaming of the One Health Framework into the MNP research agenda across ASEAN. One Health – a transdisciplinary and integrative approach – is particularly suited to addressing the complexity of MNP pollution by accounting for the interconnectedness of human, animal, and environmental health. Integrating One Health into MNP research would foster collaboration across scientific disciplines and enable a more comprehensive evaluation of the implications of MNP exposure. Such integration would allow for robust, multidisciplinary data collection on MNP instrumentations, exposure routes, constituent hazards, and toxicity effects. To this end, ASEAN Member States are strongly encouraged to embed the One Health Framework in national and regional studies on MNPs. Doing so will enhance the capacity of the region to generate actionable evidence and support more informed, effective policy decisions on the intersection of health and micro/nanoplastic pollution. Latest Articles |
| Date: | 2025–06–26 |
| URL: | https://d.repec.org/n?u=RePEc:era:wpaper:pb-2025-05 |
| By: | Daw, Georges |
| Abstract: | We revisit the nonconsensual econometric works – although the natural resource curse may have flourished – on the relationship between natural resources and economic performance. We first question the two terms of the relationship. We consider the role of institutions (separately and in interaction with the variable of interest) and of a number of usual or new control variables (income inequality and current account). The model, based on development accounting, is tested using four econometric techniques on the full sample (130 countries, 1990-2019) and by sub-samples according to per capita income, illustrating the non-linearity of the relationship. Three stylized facts emerge: first, the overall results converge towards a strong blessing of resource rents on GDP per capita. This can be explained mainly by the role of these rents in countries with very high GDP per capita. Second, institutional variables significantly mitigate the negative effect or reinforce the positive effect of these resources on development. Finally, among the categories of resources considered, it is the oil rent that favors this strong natural resource blessing. The effects of the observed categories may offset each other. Detailed analyses of estimation’s results in sub-samples and articulated with the results of the full sample are also proposed. |
| Keywords: | Comparative studies of countries ; Development accounting ; Econometrics ; Natural resources and economic development ; Share of resources rents in GDP ; Weak and strong resource curse (or blessing). |
| JEL: | C20 O1 O13 O57 Q32 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125145 |
| By: | Aneli Bongers (Department of Economics, University of Malaga); Jose L. Torres (Department of Economics, University of Malaga) |
| Abstract: | This paper evaluates optimal active debris removal (ADR) policies for managing space pollution caused by orbital debris. ADR refers to ex post mitigation efforts that involve removing debris from orbit. We extend the DISE-2024 model, an integrated assessment model (IAM) of the global economy and space environment, by incorporating ex-post abatement cost functions for different types of orbital debris. The model determines optimal abatement expenditures and the optimal proportion of debris (derelict satellites, rocket bodies, and fragments) to be removed in order to maximize social welfare. Our findings indicate that the optimal removal rate for small debris fragments is higher than for larger objects such as derelict satellites and rocket bodies. The cost of implementing ADR policies increases over time as space activity expands. Importantly, optimal ADR policies help prevent unlimited accumulation of orbital debris, avoiding the risk of a Kessler syndrome. |
| Keywords: | Outer space; Orbital debris; Satellites; Abatement cost; Optimal policy; ADR policies |
| JEL: | D62 E21 Q53 Q58 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:bhw:wpaper:07-2025 |
| By: | Namockel, Nils (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)) |
| Abstract: | Within the transition to climate-neutral energy systems, hydrogen has the potential to support decarbonization of multiple sectors. Just like in electricity markets, volatility in hydrogen supply and process-specific demand may lead to volatile prices in a hydrogen market. This volatility may affect the interplay of hydrogen and electricity markets, which remains insufficiently explored. This study investigates fundamental price formation mechanisms for hydrogen and electricity, emphasizing their mutual dependencies, volatility, and the impact of short-term system conditions such as weather and demand variability. Additionally, it explores how these dynamics respond to variations in system conőgurations. Using the European energy system model DIMENSION, enhanced to incorporate detailed hydrogen supply and demand options including storage, cross-border trade, and updated import cost data, this study derives shadow prices as the basis for the subsequent statistical analysis. Results show that hydrogen and electricity prices are governed by short-term interactions. While electricity price formation can be well explained by renewable generation and demand, hydrogen prices emerge to be more structurally driven. Storage dynamics and cross-border trade moderate hydrogen price formation next to electrolysis. Strong price coupling between the hydrogen and electricity market likely occurs under low residual load conditions dominated by electrolysis, whereas decoupling arises during high residual load situations dominated by storage discharge. The electricity-to-hydrogen price ratio averages 0.56, lower than previous estimates, primarily due to the consideration of inflexible hydrogen imports and infrastructure constraints. Furthermore, the analysis indicates that short-term price signals alone may be insufficient for investment recovery, highlighting the need for complementary market mechanisms to develop a liquid hydrogen market. |
| Keywords: | Hydrogen; Electricity; Energy system modeling; Price formation; Climate neutrality |
| JEL: | C61 D47 Q21 Q41 Q48 |
| Date: | 2025–06–23 |
| URL: | https://d.repec.org/n?u=RePEc:ris:ewikln:2025_006 |
| By: | Raffaella Barone |
| Abstract: | This paper examines the relationship between non-residential property prices and various social, economic, and environmental indicators within the provinces where these properties are located. We focus on indicators from the Eni Enrico Mattei Foundation and SDSN Italia that track the 17 sustainable development goals, as well as additional factors like crime rates, per capita GDP, and sales frequency. Using a machine learning algorithm, we predicted property sale prices and applied SHapley Additive exPlanations to assess the importance of each variable. Our findings highlight the strong influence of categorical variables and SDG indicators on prices. Finally, we used causal inference to explore how policy interventions might affect property prices. |
| Keywords: | Machine Learning, Real estate market, Financial Stability, Sustainability, Crimes |
| JEL: | B4 C1 G01 R33 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:baf:cbafwp:cbafwp25238 |
| By: | Wietschel, Martin; Thielmann, Axel; Gnann, Till; Hettesheimer, Tim; Langkau, Sabine; Neef, Christoph; Plötz, Patrick; Sievers, Luisa; Tercero Espinoza, Luis Alberto; Edler, Jakob; Krail, Michael; Doll, Claus; Link, Steffen; Stephan, Annegret; Scherrer, Aline; Klobasa, Marian; Speth, Daniel; Wicke, Tim; Schicho, Michaela; Kamamia, Ann Wahu; Loibl, Antonia |
| Abstract: | When looking at the key issues along the entire battery value chain, it becomes clear that there are no insurmountable obstacles to the continued widespread market diffusion of battery-electric cars. However, there are still several technical, economic, environmental, regulatory and social challenges to address in the coming years. These challenges can be overcome, provided there is the political will to do so. The most important findings are summarized below and discussed in greater detail in the sections on the individual questions. Note: This policy brief was published under the same title in 2020, but its content has been completely revised, and new aspects have been added. It reflects the state of research as of February 2025. |
| Keywords: | Electric vehicle, battery, electromobility, sustainable mobility |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:fisipp:320419 |
| By: | Carry, Inga |
| Abstract: | In summer 2023, the EU entered a strategic raw materials partnership with Chile. While the EU is seeking to gain better access to critical raw materials such as lithium and copper, Chile is aiming to diversify its raw materials sector and boost local value creation. Despite progress having been made in the scientific and technological spheres, industrial cooperation has so far fallen short of expectations. To fully realise the potential of the partnership, the EU should seek to ensure that its existing initiatives with Chile are more closely aligned and should make more effective use of synergies between raw materials, renewable energy and hydrogen. This will require stronger investment incentives for European companies. Given the new US trade policy, it is especially important that the EU underpins its partnership promises through concrete actions in order to demonstrate that it is a reliable partner. |
| Keywords: | raw materials, Chile, EU, geopolitical dynamics, lithium, copper, industrial cooperation, partnership, renewable energy, hydrogen, mining companies, CODELCO |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpcom:319693 |
| By: | Kosec, Katrina; Kyle, Jordan; Narayanan, Sudha; Raghunathan, Kalyani; Ray, Soumyajit |
| Abstract: | This paper examines the dynamics of women's claim-making within the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme in India, focusing on their participation in selecting durable assets for climate resilience. Despite legal entitlements and protections for women within the program, gender disparities persist in claiming public resources. Utilizing a mixed-methods approach including surveys and qualitative interviews, the study uncovers various pathways to women’s claim-making, influenced by factors such as gender norms around mobility and women’s voice and agency, internal barriers and constraints including comfort in public speaking, and knowledge of the program and its various procedures for selecting assets. While challenges to women’s effective participation remain, findings from our analysis suggest potential for interventions to reduce gender gaps and enhance inclusivity in planning processes. Moreover, the study underscores the importance of recognizing diverse claim-making pathways to promote inclusion effectively within the program. |
| Keywords: | climate resilience; gender equality; infrastructure; women's empowerment; employment; women's participation; gender norms; governance; India; Asia; Southern Asia |
| Date: | 2024–03–31 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:140692 |
| By: | Anna Laura Baraldi; Claudia Cantabene; Alessandro De Iudicibus; Giovanni Fosco; Erasmo Papagni |
| Abstract: | This paper examines how natural disasters shape electoral preferences by analyzing the impact of earthquakes in Italy between 1990 and 2019. Using a staggered Difference-in-Differences design, we estimate that affected municipalities are more likely to elect female, more educated, and older city councilors. Similar shifts occur for mayors. These effects persist across election cycles and are robust to alternative specifications. We rule out competing explanations such as changes in turnout or candidate supply. The findings suggest that crises push voters to favor politicians perceived as more competent, experienced, and prosocial. |
| Keywords: | Natural disasters; Electoral behavior; Local elections; Political seÂlection; Gender and representation; Earthquakes; Difference-in-Differences; Voter preferences |
| JEL: | D72 H84 J16 C23 O15 |
| Date: | 2025–06–06 |
| URL: | https://d.repec.org/n?u=RePEc:eei:rpaper:eeri_rp_2025_06 |
| By: | Kishore, Prabhat; Birthal, Pratap S.; Srivastava, Shivendra Kumar |
| Abstract: | Propelled by advancements in agricultural technology, irrigation expansion, infrastructure development, and incentives such as subsidies on inputs and guaranteed purchase of produce at government-determined prices, India’s food system has evolved, transforming the country from a state of food deficit to food surplus. However, this transformation has come at a cost. The incentive structure that contributed to this transformation has now become unsupportive of agricultural sustainability, damaging natural resources, agrobiodiversity, and the environment. This paradoxical situation necessitates a critical examination of current policies and practices. In this study, we evaluated the impact of Minimum Support Prices (MSP), one of the key components of agricultural policy, on crop yields, market prices, farmers’ income, and groundwater levels. The findings demonstrate that MSP-based procurement, by mitigating market uncertainties and price risks, and incentivizing production, serves as an income safety net for farming communities. |
| Keywords: | Food Security and Poverty, Sustainability |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icar24:358869 |
| By: | Guglielmo Maria Caporale; Luis Alberiko Gil-Alana; Nieves Carmona-González |
| Abstract: | This paper analyses trends and persistence in atmospheric pollution in ten US cities over the period from January 2014 to January 2024 using fractional integration methods. The results support the hypothesis of long memory and mean reversion in atmospheric pollution in all cities examined. They also indicate that Boston is the only city in the sample where atmospheric pollution exhibits a significant positive linear trend, though it is also characterised by the lowest degree of integration, which implies that shocks have transitory effects and mean reversion occurs at a fast rate. |
| Keywords: | atmospheric pollution, particular matter (PM2.5), fractional integration, long memory, persistence |
| JEL: | C22 Q53 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11957 |
| By: | Millward-Hopkins, Joel; Hickel, Jason; Nag, Suryadeepto |
| Abstract: | Background: Increasing global use of energy and materials is breaching planetary boundaries, but large inequalities mean that billions of people still cannot meet basic needs. Researchers have estimated minimum energy and material requirements to secure human wellbeing. However, it remains unclear whether countries with shortfalls in energy and material use are increasing their consumption towards sufficient levels, and whether countries with surplus consumption are reducing theirs to sustainable levels. Methods: In this empirical modelling study, we compared large datasets of national energy and material footprints with estimates of the energy and material required for each country to bring its poorest populations up to decent living standards (DLS). We then estimated the share of countries that are in shortfall and in surplus, for both energy and material consumption, and assessed to what degree countries are moving in the right direction, given existing growth rates. For countries with consumption shortfalls, we calculated the time it will take, at current growth rates, to reach energy and material use sufficient for DLS. Findings: The world currently uses more energy and materials than is required to achieve DLS for all (approximately 2·5 times more), even with existing within-country distributions (approximately 1·5 times more). However, 50% of nations currently have energy shortfall, and 46% have material shortfall. For most of these countries, growth in energy and material use is too slow to achieve DLS by 2050. Indeed, with current growth rates and national inequalities, at least one in five countries will remain in shortfall in 2100. By contrast, the growth rates of countries in surplus are four times higher than the growth rates of countries in shortfall, exacerbating ecological pressures. Interpretation: Currently, the world is not moving towards a just and ecological future for all. Growth in energy and material use is occurring primarily in countries that do not need it and is not occurring fast enough (or is declining) in countries that do need it. A substantial redistribution of energy and material use is needed—both within countries and between them—to achieve faster progress on DLS with less ecological pressure. Indeed, this redistribution is imperative if we are to achieve DLS for all while also achieving the Paris Agreement objectives. Convergence between the Global North and South is necessary but is not occurring fast enough. At current rates, convergence will not occur within the next 100 years. Funding: European Research Council. |
| JEL: | Q56 O40 |
| Date: | 2025–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128547 |
| By: | Aneli Bongers (Department of Economics, University of Malaga); Jose L. Torres (Department of Economics, University of Malaga) |
| Abstract: | This paper introduces the DISE-2024 (Dynamic Integrated Space Economy) model, an Integrated Assessment Model (IAM) designed to analyze the economics of efficient mitigation policies for orbital debris. The DISE-2024 model integrates an optimal neoclassical economic growth framework with a physical model of the Earth's orbital environment, capturing the dynamics of orbital debris and the likelihood of collisions. The economic component of the model determines the optimal consumption path and investments across two capital assets: Earth capital and space capital (i.e., satellites). The physical component models the endogenous generation of orbital debris, accounting for factors such as launch activity, in-orbit breakups, and collisions. The model is simulated over a 200-year horizon under various policy scenarios, including no intervention, de-orbiting policy, no breakups, reusable launch vehicles, debris-free launch systems, collision avoidance, and the European Space Agency's (ESA) zero debris policy. A key finding of the study is that mitigation policies targeting debris emissions alone have a limited impact on reducing the long-term accumulation of orbital debris. Only scenarios involving complete collision avoidance can prevent the catastrophic chain reaction predicted by Kessler syndrome. |
| Keywords: | Outer space; Orbital debris; Satellites; Integrated assessment model; Debris migitagion guidelines; Optimal policy. |
| JEL: | D62 E21 Q53 Q58 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:bhw:wpaper:06-2025 |
| By: | Sanford, Luke; Martinez-Alvarez, Cesar B |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:globco:qt2tm2g72j |
| By: | Benhao Du; Thomas Treillard; Francois Wang |
| Abstract: | This paper explores stochastic control models in the context of decarbonization within the energy market. We study three progressively complex scenarios: (1) a single firm operating with two technologies-one polluting and one clean, (2)two firms model and (3) two firms without any regulatory incentive. For each setting, we formulate the corresponding stochastic control problem and characterize the firms' optimal strategies in terms of investment and production. The analysis highlights the strategic interactions between firms and the role of incentives in accelerating the transition to cleaner technologies. |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2506.14286 |
| By: | Yukihiro Nishimura (Osaka University and CESifo) |
| Abstract: | This paper develops a Kantian equilibrium framework, subsuming the global pollution model with private ownership, wherein agents condition their contributions on a universalizable moral imperative reflecting income and preference heterogeneity. After showing a specific proportionality assumption linking Kantian reasoning to other agents’ behavior that must make the Kantian equilibrium coincide with the Lindahl equilibrium, we show that the level of the public good increases with income inequality. Applying this framework to a global pollution model, we demonstrate that the Lindahl allocation in the global pollution model may fail to Pareto dominate the voluntary contribution (disagreement) equilibrium. In the global public good problem, we compare the Lindahl allocation with other proposed solutions, so we will discuss the nature of inter-country transfers and whether it Pareto dominates the disagreement equilibrium. Our analysis contributes to a re-interpretation of the morally grounded mechanisms for global public good provision, offering a bridge between normative ethics and economic design. |
| Keywords: | Global externalities, Kantian equilibrium, Income inequality, International emissions trading |
| JEL: | H41 D63 Q54 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:osk:wpaper:2504 |
| By: | Keitaro Nagai (Hakuoh University) |
| Abstract: | This study investigates the transition from coal-to petroleum-based production in Japan’s chemical industry during the high-growth era by focusing on the Ministry of International Trade and Industry (MITI) raw material conversion policies. Through case studies, this study reexamines the prevailing view of MITI’s role in Japan’s economic development, highlighting a collaborative policymaking process between the government and industry. The analysis elucidates how acetaldehyde production shifted swiftly to petrochemical methods during the Second Petrochemical Phase Plan (1960–1964) as MITI’s policies incorporated earlier proposals from industry. For ammonia, the transition happened through the First and Second Large-Scale Expansion Plans launched in 1965 and 1967, respectively. These policies were formally established by the MITI, but they were implemented in response to requests from industry stakeholders. |
| Keywords: | Industrial Policy, MITI (Ministry of International Trade and Industry), HighGrowth Era, Chemical Industry, Energy Transition |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:wap:wpaper:2516 |
| By: | Grimm, Daniel |
| Keywords: | Land Economics/Use, Production Economics |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ags:jhimwp:359283 |
| By: | - |
| Abstract: | El presente texto entrega una síntesis de las ponencias presentadas en el Seminario internacional “Desafíos actuales para un desarrollo territorial inclusivo y sostenible en América Latina y el Caribe”, llevado a cabo en La Antigua, Guatemala, los días 22 y 23 de mayo de 2024, organizado por el Instituto Latinoamericano y del Caribe de Planificación Económica y Social (ILPES) de la Comisión Económica para América Latina y el Caribe (CEPAL). El encuentro contó con el apoyo de la Secretaría de Planificación y Programación de la Presidencia de Guatemala (SEGEPLAN) y del Centro de Formación de la Cooperación Española en La Antigua, se realizó en el marco de las actividades del proyecto “Sistemas de gestión pública resilientes e inclusivo para el desarrollo sostenible en América Latina y el Caribe”, que forma parte de la Cuenta de las Naciones Unidas para el Desarrollo y del Proyecto AECID sobre Fortalecimiento de capacidades para la implementación de la Agenda 2030. El Seminario también formó parte de un conjunto de actividades orientadas a la preparación del Panorama del Desarrollo Territorial 2024, preparado por el ILPES cada dos años, y que fue publicado en enero de 2025. |
| Date: | 2025–06–17 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col043:81871 |
| By: | Schenuit, Felix |
| Abstract: | In den Diskussionen, die auf EU-Ebene über das neue Emissionsminderungsziel für 2040 geführt werden, rückte zuletzt die Rolle internationaler Zertifikate in den Fokus. Die Diskussionen gewinnen auch deshalb an Dynamik, weil die Bundesregierung ihre Unterstützung für das Ziel, die Emissionen um netto 90 Prozent gegenüber dem Wert von 1990 zu mindern, an die Bedingung knüpft, bis zu drei Prozent der Zielvorgabe mittels internationaler Zertifikate aus Partnerländern zu erfüllen. Wie das Ziel konkret ausgestaltet werden soll und was daraus für die europäischen Politikinstrumente folgt, wird in den bevorstehenden EU-Gesetzgebungsprozessen Anlass für Konflikte sein. Trotz offener Fragen zur Qualität, Zusätzlichkeit und Verfügbarkeit der Zertifikate ist eine frühzeitige Debatte über ihre möglichen Funktionen sinnoll - um Politikinstrumente gegebenenfalls weiterzuentwickeln und spätere Korrekturen zu ermöglichen. Zielführend wäre es, den Einsatz internationaler Zertifikate auf dauerhafte CO2-Entnahmetechnologien zu konzentrieren, die in der EU selbst nur begrenzt skalierbar sind. Internationale CO2-Entnahme-Zertifikate könnten als Ausgleich von Restemissionen nicht nur einen Beitrag zur Bewältigung der noch bevorstehenden Herausforderungen auf dem Weg zu Treibhausgasneutralität leisten; die Etablierung einer institutionalisierten Nachfrage nach qualitativ hochwertigen Entnahmemethoden würde zugleich eine wichtige Grundlage für das Erreichen netto-negativer Emissionen schaffen. |
| Keywords: | EU, Emissionsminderungsziel für 2040, CO2-Entnahme-Zertifikate, Treibhausgasneutralität, Klimapolitik, Netto-Null-Treibhausgasemissionen, Carbon Management, CCS, CCU, CDR, Klimarahmenkonvention (UNFCCC) |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpakt:319695 |
| By: | Michael S. Barr |
| Date: | 2025–06–26 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgsq:101165 |
| By: | Nguyen, Ha Trong; Mitrou, Francis |
| Abstract: | Using longitudinal, nationally representative data from Australia, this study uncovers a previously undocumented pattern: in over half of cases where one household member reports weather-related home damage, their co-resident does not. This high rate of intra-household inconsistency is striking, particularly given that respondents are asked the same question within a similar timeframe, and that prior research has generally treated self-reported damage as exogenous to individual behaviour. Household fixed-effects models indicate that a range of factors, including individual health, life satisfaction, local socio-economic conditions, and cyclone exposure, are systematically associated with both the likelihood of reporting damage and intra-household inconsistencies. Individuals in better health, with higher life satisfaction, or residing in more advantaged areas are less likely to report damage-whether consistently or inconsistently-relative to their household member. Furthermore, replacing self-reported damage with a more objective measure substantially attenuates the observed associations between damage and individual health and life satisfaction. Taken together, these findings challenge the common assumption of exogeneity in self-reported weather-related home damage and underscore the risk of biased inference if endogeneity is not adequately addressed. |
| Keywords: | Measurement Errors, Survey Misreporting, Natural Disasters, Cyclones, Housing |
| JEL: | C18 Q54 R23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1624 |
| By: | Jeremy Lind; Carolina Holland-Szyp; Rachel Sabates-Wheeler; Yihunbelay Teshome; Lars Otto Naess |
| Abstract: | The paper discusses the growing interest in using social protection to address climate-related vulnerabilities and strengthen resilience, particularly in conflict-affected settings. It examines the Productive Safety Net Programme in Ethiopia, highlighting that while social assistance offers a protective function, it falls short of reducing long-term vulnerabilities, especially in settings characterised by multidimensional and enduring stressors and shocks. The assistance provided is often inadequate, leaving recipients to rely on their own resources. |
| Keywords: | Livelihoods, Resilience, Crisis, Social protection, Climate uncertainty, social safety nets, Ethiopia |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:unu:wpaper:wp-2025-44 |
| By: | Hoogland, Kelly PhD; Hardman, Scott PhD |
| Abstract: | Battery-electric vehicles (BEVs) are central to California’s strategy to reduce transportation-related emissions; however, low-income households face significant structural barriers to adoption. These barriers include the high upfront purchase costs of new BEVs, limited supply of used BEVs, limited access to home charging, and low awareness of BEVs. To better understand these obstacles and identify effective policy responses, our research team analyzed survey data collected from 2, 051 priority population households throughout California between December 2023 and June 2024. The survey asked households about their vehicle purchasing behavior, ownership costs, and socio-demographics. |
| Keywords: | Engineering |
| Date: | 2025–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt5996v4gn |
| By: | John Heilbron; Stathis Tompaidis |
| Abstract: | U.S. G-SIBs are likely to experience resource depletion during stress but still appear well equipped to meet hypothetical CCP assessments. |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:ofr:ofrblg:25-07 |
| By: | Miguel Martinez Rodriguez; Chi Kong Chyong; Timothy Fitzgerald; Miguel Vazquez Martínez |
| Keywords: | Hydrogen infrastructure, pipeline regulation, third-party access (TPA), unbundling, market design |
| JEL: | L95 L51 Q48 Q42 D47 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:enp:wpaper:eprg2514 |
| By: | Irene Alvarado-Quesada (Department of Economic Research, Central Bank of Costa Rica); Jose Pablo Barquero-Romero (Department of Economic Research, Central Bank of Costa Rica); Cristian Sancho-Brenes (Department of Economic Research, Central Bank of Costa Rica) |
| Abstract: | This study examines, for the first time, the exposure of the credit portfolio of the banking system in Costa Rica to hydrometeorological events, specifically excess rainfall events, with a focus on firm credit at the canton level. We propose a credit risk indicator to identify cantons with credit portfolios that are more affected by rainfall events. Moreover, we introduce a novel approach with respect to firm level data to assign a single productive location to firms with two or more establishments. We find that cantons with the highest number of excess rainfall events represent a small share of the average credit balance of the country. Furthermore, we observe that the top three cantons with the highest credit risk score are driven by economic activities that are not expected to be notably vulnerable to extreme rainfall. |
| Keywords: | Hydrometeorological Events;Physical Risks;Banking Sector;Credit Risk |
| JEL: | Q54 G21 G28 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:apk:epolec:2401 |
| By: | Stefaniia Parubets; Hisahiro Naito |
| Abstract: | This study evaluates the effectiveness of satellite-derived tropospheric nitrogen dioxide (NO2) concentrations as a proxy for economic activity in Japan. While nighttime light (NTL) data has been widely used to approximate economic output, recent research has highlighted its' key limitations. In particular, the relationship between NTL and economic outcomes weakens in sub-sample analyses with shorter time spans or restricted geographic coverage. NTL data also faces several key limitations: saturation in dense urban areas reduces measurement accuracy, capturing nighttime emissions fails to account for essential daytime economic activity, inconsistent sensors across different satellites introduce measurement variability, and the technology's sensitivity diminishes when differentiating economic development beyond certain brightness thresholds. Our results show that NO2's effectiveness as an economic proxy is highly dependent on spatial resolution. Using 0.25 degree esolution NO2 data, we find statistically significant relationships with prefecture-level GDP across multiple sectors. Mining shows the strongest elasticity (3.02%), followed by electricity, gas, and water (1.51%), and manufacturing (0.48%). Agriculture, forestry, and fisheries exhibit negative associations (-0.11%), consistent with vegetation serving as NO2 sinks. However, when using higher resolution 0.1 degree NO2 data, these relationships largely disappear, with most coefficients becoming statistically insignificant and sometimes counterintuitive. These findings highlight the importance of matching satellite data resolution to the geographic scale of economic analysis, with coarser resolution being optimal for prefecture-level analysis in Japanese context. This research demonstrates NO2's potential as a more reliable alternative to NTL for economic monitoring when appropriately calibrated. This study examines the effect of exports on subnational income and regional inequality between urban (trade hub) and rural (non–trade hub) areas, using nighttime luminosity as a proxy for economic activity. We construct a country-period panel dataset covering 104 countries, based on five-year average data from 1997 to 2020. Trade hub areas are defined as the union of areas within a 30 km or 50 km radius of each of the three largest ports and three international airports in a country, while all remaining areas are classified as non–trade hub areas. To address endogeneity, we employ a two-stage least squares (2SLS) approach, using predicted trade as an instrumental variable. Predicted trade is derived from a dynamic gravity equation in which time dummies are interacted with sea and air transport distances. This instrument captures variation in transportation costs driven by technological advances that have shifted trade from sea to air, thereby influencing trade volumes. Our results show that a 1\% increase in exports raises nighttime luminosity by 0.3% in trade hub areas and by 0.06\% in non–trade hub areas. Export growth also leads to population increases in trade hub areas, but not in non–trade hub areas. Furthermore, we find that a 1% increase in exports raises nighttime luminosity per capita by 0.18% in trade hub areas and by 0.06% in non–trade hub areas. These findings suggest that while exports stimulate economic activity in trade hubs, population inflows partially offset per capita gains. Nonetheless, exports significantly exacerbate regional inequality. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:tsu:tewpjp:2025-002 |
| By: | Marcella Lucchetta (Ca' Foscari University of Venice) |
| Abstract: | Recent financial crises have exposed the vulnerabilities of heterogeneous banking models, with investment banks facing greater risks than their retail counterparts due to volatile trading portfolios. This study introduces a three-period general equilibrium model that integrates bank heterogeneity with a novel crisis-induced adaptation mechanism, enabling banks to shift toward resilient retail models during economic distress. Unlike traditional frameworks that assume uniform bank behavior or rely on static analyses, this model captures the dynamic structural adjustments that mitigate systemic risk, offering a nuanced perspective on financial stability. Drawing on comprehensive U.S. and European banking data, the framework is validated across diverse shocks, including regional bank failures and global market disruptions. The findings inform regulatory strategies aligned with Basel III principles, addressing the unique challenges of mid-sized banks while tackling emerging risks from fintech innovations and climate exposures. By bridging micro-level bank dynamics with macro-level stability, the study provides a robust tool for regulators navigating the complexities of modern financial systems, with implications for both domestic and global banking landscapes. |
| Keywords: | Bank Heterogeneity, Systemic Risk, Crisis Adaptation Policy, Marginal Expected Shortfall, Financial Stability, Fintech, Climate Risk |
| JEL: | G21 G01 E44 G28 Q54 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ven:wpaper:2025:08 |
| By: | Becker, Marco; Daube, Carl Heinz |
| Abstract: | Im zweiten Teil dieser Reihe befassen sich die Autoren mit den kulturell-mindset-orientierten Modellen des Transformationsmanagements. Die klassischen Methoden des Change-Managements erweisen sich häufig als unzureichend, um tiefgreifende strategische Transformationen erfolgreich zu bewältigen. Unternehmen stehen derzeit vor der Herausforderung, spezifische Methoden und Modelle zu entwickeln, um den aktuellen Entwicklungen, wie etwa der Digitalisierung, der Globalisierung und den gestiegenen Anforderungen an Nachhaltigkeit, zu begegnen. Im Folgenden werden vier zielführende Modelle vorgestellt und bewertet: 1. Transformation Mindset Modell 2. Modell Integrales Unternehmen 3. Wheel of Transformation Modell 4. 360° Transformationsmodell Im Rahmen der Bewertung wird jedes Model einer sorgfältigen Bewertung unterzogen, um seine Eignung für die erfolgreiche Umsetzung nachhaltiger Transformationen in Unternehmen zu ermitteln. Für eine erfolgreiche Transformation ist die Integration kultureller, strategischer und prozessorientierter Ansätze von entscheidender Bedeutung. |
| Abstract: | In the second part of this series, the authors look at the cultural-mindset-oriented models of transformation management. The classic methods of change management often prove to be inadequate for successfully mastering far-reaching strategic transformations. Companies are currently facing the challenge of developing specific methods and models in order to meet current developments such as digitalization, globalization and the increased demands for sustainability. The following four key models are presented and evaluated below: 5. transformation mindset model 6. integral enterprise model 7. wheel of transformation model 8. 360° transformation model As part of the assessment, each model is carefully evaluated to determine its suitability for the successful implementation of sustainable transformations in companies. The integration of cultural, strategic and process-oriented approaches is crucial for a successful transformation. |
| Keywords: | Transformation, Transformantionsmanagement, Change, Change Management, Transformation Mindset Modell, Modell Integrales Unternehmen, Wheel of Transformation Modell, 360° Transformationsmodell |
| JEL: | O |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:320203 |
| By: | Emmanuel, Zachariah; Emmanuel, Maria; Aipoh, Godwin; Dickson, Vonke; Collins, Emma |
| Abstract: | This paper examines the effects of tobacco restrictions policy on respiratory health. We leverage the heterogeneous timing across states in the adoption of the policy from a sample of 8, 175 individuals between the ages of 18 and 21. Using the 2011 to 2019 Behavioral Risk Factor Surveillance System (BRFSS), we estimate the impact of the Tobacco 21 MLSA policy on the prevalence of chronic obstructive pulmonary disease (COPD), a progressive lung condition marked by airflow obstruction due to prolonged exposure to irritants like cigarette smoke and air pollution. We find that the T21 MLSA policy lowered the risk of COPD by 11.4 percentage points, or approximately 6.7%, among young adults between the ages of 18 and 21. In addition, we find that the policy had a greater effect on male, black, and Hispanic populations. We also find the policy to be more effective among 20-year-old unemployed young adults with some college education. These findings suggest that the T21 MLSA policy has effectively reduced respiratory health problems among teenagers and young adults, supporting its public health benefits to society. Therefore, states that are yet to adopt the T21 MLSA policy should consider its potential to decrease the risk of COPD and, ultimately, tobacco-related mortality as a valuable component of their health policy. |
| Keywords: | Tobacco 21 MLSA policy, respiratory health, copd, |
| JEL: | I1 I12 I18 |
| Date: | 2025–03–26 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124994 |
| By: | Anne-Célia Disdier (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Les normes de qualité, notamment les mesures sanitaires et phytosanitaires (SPS) ainsi que les obstacles techniques au commerce (OTC), sont de plus en plus utilisées par les gouvernements nationaux et donnent lieu à un nombre croissant de différends commerciaux internationaux. 1 Une étude récente (Disdier, Gaigné and Herghelegiu, 2023), analyse l'impact des normes de qualité appliquées par un pays sur la qualité des produits échangés et la compétitivité des filières. |
| Keywords: | Economie et sociologie pour l'agriculture, l'alimentation et l'environnement |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:pseptp:hal-05128678 |
| By: | Bleck, Jaimie; Carrillo, Lucia; Gottlieb, Jessica; Kosec, Katrina; Kyle, Jordan; Soumano, Moumouni |
| Abstract: | We surveyed 2, 919 community leaders across seven regions of Mali to provide insights on the prevalence and severity of shocks and crises across localities; which types of shocks and crises are most difficult from which to recover; the formal and informal ways in which local actors are involved in aid distribution systems; and the types of programming local actors view as most beneficial for promoting resilience. Despite increasing prevalence of conflict across localities, leaders predominately cited climate-related shocks as the most difficult from which to recover— especially droughts. We find that localities vary in the inclusiveness of local governance around aid distribution: while elected mayors are almost always involved, traditional leaders, women’s group and youth leaders in villages, civil servants, and civil society leaders are each involved in 40–60% of localities. We used both a budget allocation exercise and an experimental game in which we introduced the concept of anticipatory action (AA) programming—aid that is “triggered” by an early warning signal to arrive before a shock and mitigate its worst effects—to probe preferences over aid modality. We found that leaders see value in balancing investment across resilience programming (including AA) and humanitarian response, especially food aid. However, there is some important variation between village- and commune-level officials: village-level leaders are more likely to prioritize aid modalities that target households directly, like food aid and cash transfers, while commune-level leaders are more likely to prioritize risk prevention trainings. Our findings have important policy implications for promoting local resilience in Mali, including the importance of investing more in drought resilience, engaging actors at different levels of local governance who have different information and perspectives, and simultaneously investing in capacity-building around early warning system accuracy and dissemination. |
| Keywords: | governance; climate; conflicts; resilience; Mali; Africa; Western Africa |
| Date: | 2024–09–16 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:gsspwp:152260 |