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on Environmental Economics |
| By: | Niemann, Rainer; Rohlfing-Bastian, Anna |
| Abstract: | This paper analyzes how ESG-linked executive compensation interacts with carbon taxation in a multitask principal-agent framework. A risk-neutral principal with financial and environmental preferences incentivizes a risk-averse manager to exert productive and abatement effort while facing an exogenous carbon tax on emissions. We show that, in the absence of ESG incentives, carbon taxes reduce emissions mainly by lowering production. In contrast, ESG-linked compensation shifts emission reductions toward increased abatement, allowing the principal to raise expected payoff while simultaneously reducing emissions, both with and without carbon taxation. However, carbon taxes narrow the range of feasible ESG preferences and, at high levels, may induce excessive abatement, potentially leading to negative net emissions. Our results highlight the importance of aligning internal incentive design with external climate regulation. The interplay of ESG compensation and carbon taxes should also be considered from a regulatory perspective. |
| Keywords: | ESG-linked executive compensation, Carbon taxation, Environmental regulation, Climate policy, Managerial incentives |
| JEL: | D82 M52 Q58 Q54 H25 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:safewp:341429 |
| By: | Jasmin Lukasz (School of Accounting, Finance and Economics (SoAFE) and Centre of Political Economy, Governance, Finance and Accountability (PEGFA), University of Greenwich, UK); Maria Nikolaidi (School of Accounting, Finance and Economics (SoAFE) and Centre of Political Economy, Governance, Finance and Accountability (PEGFA), University of Greenwich, UK); Özlem Onaran (School of Accounting, Finance and Economics (SoAFE) and Centre of Political Economy, Governance, Finance and Accountability (PEGFA), University of Greenwich, UK) |
| Abstract: | This paper presents a conceptual framework for an integrated global, sectoral and gendered analysis of the macroeconomic and social dimensions of the green transition with a focus on three critical aspects. The first concerns the uneven global effects of the green transition. Due to differentiated sectoral structures and positions in the global financial architecture, the transition has highly uneven effects across countries: interconnected global production and financial networks can result in the green transition in the Global North having important adverse macrofinancial effects on Global South countries, particularly those reliant on fossil fuel exports, raising climate justice concerns. The second refers to the environmental footprint of green structural change that extends well beyond direct emissions: resource-intensive green activities, such as electric vehicle production, drive ecological degradation through supply chains in Global South producer countries and reinforce green extractivism, making adaptation and the protection of water, land, and biodiversity central for a just green transition. The third is related to the gendered effects of the transition, which can either intensify or reduce existing inequalities through the impact of the green transition on women’s paid and unpaid work. These effects diverge between North and South due to differences in labour informality, exposure to environmental degradation, and the gender composition of ‘green’, ‘fossil’, and ‘purple’ sectors. Drawing on post-Keynesian, ecological, and feminist macroeconomics, as well as the physical and monetary input-output approaches, the paper develops a framework that emphasises international and sectoral spillover effects, macrofinancial channels and the local-specific gendered effects of green policies through paid and unpaid work. Based on this framework, the paper outlines how the combined use of green and purple policies can reduce global, sectoral and gender inequalities. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:new:wpaper:2606 |
| By: | Joseph Nyangon |
| Abstract: | The global push for electric vehicles (EVs) has sharply increased demand for critical minerals such as cobalt and lithium, creating a tension between rapid industrial growth and long-term sustainability. Extraction is concentrated in a few regions -- notably the Democratic Republic of Congo (DRC), Chile, and Argentina -- where it has produced serious socio-environmental harms, including ecosystem degradation, labour exploitation, and the displacement of Indigenous communities. In the DRC, cobalt mining is frequently linked to child labour and hazardous working conditions; in Chile, lithium extraction intensifies water scarcity and threatens local agriculture and biodiversity. Policy instruments such as the U.S. Inflation Reduction Act (IRA) seek to promote ethical sourcing, but an extraction-driven model continues to deepen global inequalities. This chapter examines the contested temporalities of the transition, in which the short-term economic incentives of extraction conflict with longer-term environmental and social goals. It argues for a place-based framework built on community-centred governance, sustainable mining practices, and circular-economy strategies, including recycling and material substitution, to align resource security with equity and ensure that the shift to EVs does not reproduce the injustices it aims to address. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.24356 |
| By: | Yassine Kirat (ULH - Université Le Havre Normandie - NU - Normandie Université, EDEHN - Equipe d'Economie Le Havre Normandie - ULH - Université Le Havre Normandie - NU - Normandie Université); Tina Prodromou (University of Wollongong [Australia]); Sandy Suardi (University of Wollongong [Australia]) |
| Abstract: | This study delves into the complex interplay of climate change, natural disasters, energy consumption, and carbon emissions across 111 countries from 1990 to 2019. A structural shift in 2004 signifies altered global dynamics in CO2 emissions, closely linked to the escalation of meteorological and hydrological disasters driven by climate change. Globally, we illuminate the significant impact of climate-induced natural disasters, especially storms and extreme temperatures, on energy consumption and carbon emissions, albeit with variations. Regionally, we establish a notable positive association between extreme temperature-related disasters and both energy consumption and carbon emissions in Europe. Examining the aftermath of catastrophic events reveals an intensified influence of these disasters on carbon emissions and energy consumption in Africa, Latin America, and Europe. Developed economies experience significant impacts on carbon emissions and energy consumption from storms and extreme temperatures, while flood severity predominantly affects carbon emissions in developing countries. Additionally, we explore the potential of green patents in mitigating energy consumption and emissions triggered by disasters. While not conclusively proven, the statistically significant impact of green patents on energy conservation holds profound policy implications for advancing climate understanding, transforming energy landscapes, and addressing future sustainability concerns. |
| Keywords: | Natural disasters Climate change Energy consumption Carbon emissions Green patents |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05623681 |
| By: | Timilsina, Govinda R.; Tran, Chau; Hochman.Gal |
| Abstract: | Viet Nam is committed to reducing its greenhouse gas emissions by 15.8% by 2030 and meeting its net-zero emission target by 2050. The industrial sector, including the power sector, is the primary emitter and its active participation is necessary to achieve the targets. This study uses a stated-preference survey Vietnamese firms to understand their preferences in reducing greenhouse gas emissions. The study finds that Vietnamese firms prefer to reduce their greenhouse gas emissions through improving energy efficiency, substituting fossil fuels with non-fossil fuels and changing production processes. The ranking of preferences differs across the size, type, ownership and geographical location of firms. Their willingness to reduce emissions is driven by anticipated future regulations, social image, and global trends. They consider the lack of finance to be the main barrier to investing in climate change mitigation measures. The study also finds that if a carbon tax were imposed at 100, 000 local currency (around US$5) per ton of carbon dioxide, over 60% of firms would be willing to invest less than 5% of their annual revenue in greenhouse gas mitigation; only less than 10% of the firms are willing to allocate more than 10% their revenue for greenhouse gas mitigation. The findings also show that larger firms and state-owned firms have a higher willingness to pay for emission mitigation measures. Given the small sample size and static preference approach, the findings should be interpreted as indicative rather than conclusive. |
| Date: | 2026–06–02 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11406 |
| By: | Oleksandr Talavera (University of Birmingham); Haonan Tian (University of Birmingham); Liyun Zhang (University of Birmingham) |
| Abstract: | We examine whether ambient temperature affects Energy Performance Certificate (EPC) scores assigned by government-accredited assessors. Using over 17 million EPCs from England and Wales (2008–2025) linked with high-frequency weather and pollution data, we find that inspection-day temperature changes reported energy-efficiency scores. The effect is nonlinear and asymmetric: sub-zero days raise scores, with the largest increase below −5C, when scores are 1.36 points higher than on 10–15C days; warmer conditions generate smaller downward adjustments. The pattern is concentrated in assessments relying on less directly verified inputs and in settings where outdoor verification is more costly, pointing to a verification-effort mechanism. Temperature-related score movements also cluster near EPC rating thresholds, where small changes can alter assigned labels and imply £5, 220–7, 250 property-value shifts. Temporary environmental conditions can therefore enter durable certification records and affect green-label reliability in housing markets. |
| Keywords: | Temperature; Energy Performance Certificates; Green labels; Assessor discretion; Behavioural bias; Housing regulation |
| JEL: | D01 D91 K32 Q48 Q54 R31 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:bir:birmec:26-01 |
| By: | Balado-Naves, Roberto (University of Oviedo, Department of Economics); Llorca, Manuel (Department of Economics, Copenhagen Business School); Jamasb, Tooraj (Department of Economics, Copenhagen Business School) |
| Abstract: | This paper examines whether populist prime ministers hinder the green transition in the EU and increase greenhouse gas (GHG) emissions. Using a panel of 230 NUTS2 regions over 1995–2022, we find evidence of environmental consequences of populist rule. We employ static and dynamic difference-in-differences (DiD) estimators, inverse probability weighting (IPW) adjustments and a heterogeneity-robust estimator. Our baseline static estimates find that populist prime ministers are associated with a 2.2–4.3% increase in regional GHG emissions, a result that withstands robustness checks. Dynamic event-study specifications show no evidence of pre-existing trends, while post-treatment effects emerge immediately after the populist transition and persist over multiple years. Once treatment-effect heterogeneity and switching treatments are fully accounted for, each additional year of populist rule raises regional emissions by around 9% over a period of 6.4 years. Heterogeneity analysis shows that this is driven entirely by right-wing populist prime ministers, while left- and center-wing populist leaders do not have statistically significant environmental impact. Analysis of mediating channels suggests that the emission-increasing effect operates primarily through short-run institutional deterioration and a temporary boost in regional GDP per capita, rather than through direct changes in the energy mix or energy intensity. |
| Keywords: | Populism; Greenhouse gas emissions; Difference-in-differences |
| JEL: | C23 D72 Q54 Q58 |
| Date: | 2026–06–24 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:cbsnow:2026_010 |
| By: | Abitbol, Mathias; Aghion, Philippe; Antonin, Céline; Barrage, Lint; Lengereau, Benjamin |
| Abstract: | This paper studies the environmental effects of the large-scale deployment of AI-driven monitoring systems across French wastewater treatment plants operated by a global leader in water supply services. Exploiting quasi-experimental variation in both the timing of adoption and outages thanks to high-frequency data, we estimate the causal impact of AI on energy use and carbon emissions. We find that AI has allowed treated plants to reduce their electricity consumption and carbon emissions by 5.4% and 6% respectively, and electricity costs by 8.2%, resulting in negative abatement costs, and still improved water effluent quality. The additional electricity demand generated by AI servers represents less than 1% of these savings. Beyond average effects, AI-equipped plants exhibit greater resilience to high operational stress, including extreme meteorological events and chemical pollutant peaks. They also improve load management by reallocating consumption from peak toward off-peak hours. Finally, we assess the aggregate implications of our findings for global climate and welfare using the DICE model. We find large estimated global welfare gains associated with our estimate of AI-induced CO2 reductions. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:21576 |
| By: | Angelos Alamanos; Phoebe Koundouri (Dept. of International and European Economic Studies, Athens University of Economics and Business) |
| Abstract: | Climate change is intensifying wildfires, which in turn amplify flood hazards through altered soil infiltration, increased runoff, and debris-laden flows, forming a cascading crisis threatening multiple Sustainable Development Goals (SDGs). This chapter presents an interdisciplinary framework that integrates remote-sensing burn-severity mapping and atmospheric model-based storm simulation linked to 2D hydraulic-hydrodynamic modelling to represent real post-fire flash floods. An overview of the most common post-fire erosion and flood-protection treatments (PEFTs) is then provided. A typical Mediterranean catchment is used as an application example where the models run, and the PEFTs are designed, spatially mapped, and tested within the hydraulic model, demonstrating that they can fully offset fire-induced flooding increases. Economic analysis reveals that protection costs are a fraction of direct flood damages, establishing a compelling case for proactive investment. Drawing on an established governance framework (the values-rules-knowledge approach), the chapter diagnoses institutional barriers to PEFTs implementation and proposes a stakeholder capacity-building roadmap, linking findings to SDGs 1, 2, 3, 6, 9, 11, 13, and 15. |
| Keywords: | post-fire floods, cascading hazards, flood protection, cost-effectiveness, governance, Sustainable Development Goals |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2616 |
| By: | Swati Dhingra; Stephen Machin |
| Abstract: | Reducing landfill use cuts greenhouse gas emissions and costs less |
| Keywords: | india, rct, waste, urban planning, urban pollution, recycling, climate change, climate change mitigration, emissions, |
| Date: | 2026–06–19 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepcnp:737 |
| By: | Keita Abe; Renato Molina; Kenta Tanaka; Juan Carlos Villaseñor-Derbez |
| Abstract: | Extreme weather is becoming more frequent and severe worldwide, yet its consequences for global trade channels remain an open question. This paper quantifies the cost of extreme weather to maritime trade. Integrating daily typhoon wind-swath data with hundreds of thousands of vessel voyages in Japanese waters, we document that maritime traffic falls by up to roughly 50% on typhoon-exposed open-ocean cells and by about 7% at typhoon-exposed ports. A voyage-level framework identifies $119 million in direct shipping-industry costs over 2013–2021. This disruption implies a total trade-volume welfare loss of $117.8 million. Combining the two channels yields a central total welfare estimate of approximately $237 million. As climate change intensifies, the invisible costs associated with increased extreme weather will scale accordingly, highlighting a vital dimension of climate risk that remains overlooked by adaptation frameworks focused solely on catastrophic land-based destruction. |
| Keywords: | typhoons, maritime shipping, trade costs, natural disasters, Japan, AIS data |
| JEL: | F14 F18 Q54 R41 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12746 |
| By: | Casey, Gregory; Meng, Kyle C.; Rudik, Ivan (Cornell University) |
| Abstract: | Carbon import tariffs, traditionally considered a complement to domestic climate policy, are increasingly proposed as standalone policies. We build a quantitative trade model to compare U.S. carbon tariffs with and without a domestic carbon tax, each applied to a set of carbon-intensive, trade-exposed sectors. We find three main results. First, a U.S. carbon tariff increases U.S. emissions, lowers foreign emissions, and on net achieves half the global emissions reductions of the combined policy, which lowers both U.S. and foreign emissions. Second, both approaches increase U.S. GDP and welfare, but the combined policy has a larger effect due to terms of trade improvements. Third, global emissions reductions from multilateral tariff-only agreements are modest and do not increase monotonically with greater membership, whereas under combined policies they scale considerably with membership. |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:3aw8s_v1 |
| By: | Kumar, Naveen; Maiti, Dibyendu |
| Abstract: | This Chapter reviews empirical methodologies studying the impact of global warming on economic indicators inIndia. We begin with an analysis of global climate dynamics, which includes definitional debate of level and growtheffects, using climate econometrics to highlight the methodological issue in temperature-GDP econometrics, andsummarising methodological discussion on differentiation between weather and climate change. The chapter thenevaluates India's vulnerability to climate shocks, detailing macroeconomic impacts on critical sectors such asagriculture, health, and productivity, and reviews the evolution of India's environmental policies. We further reviewthe role of fiscal, regulatory, and monetary policies in facilitating climate adaptation and mitigation. Additionally, we explore diverse econometric approaches for estimating climate change impacts, including cross-sections andpanel methods. This review highlights the urgency of coordinated international action and the need for India toimplement robust climate policies to ensure sustainable economic growth and fulfil its emission reduction targets. |
| Date: | 2026–06–07 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:4dhy6_v1 |
| By: | Muamba, Malick |
| Abstract: | The article shows how post-rainfall aquatic waste from the Kalamu and Lukunga rivers can be transformed into green energy. Based on the blue economy and the Transformation Management Model, this approach reduces flooding, recovers waste and involves communities in sustainable sanitation. |
| Keywords: | blue economy, aquatic waste, green energy, Transformation Management Model (TMM), urban sanitation, energy recovery, urban flooding |
| JEL: | O13 Q25 Q42 Q53 Q56 Q57 |
| Date: | 2026–01–31 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:128639 |
| By: | Roy Sarkis |
| Abstract: | This paper studies the macroeconomic dynamics of climate policy in a multi-sector dynamic general equilibrium model with renewable and non-renewable energy, sector-specific capital adjustment frictions, household energy demand, and endogenous fossil resource dynamics. The central mechanism is that decarbonization requires reallocating energy use and installed capital: fossil energy demand can contract immediately, while renewable capacity and abatement adjust only gradually. The analysis delivers four results. First, gradual policy implementation sharply reduces transition costs: relative to immediate implementation, gradual emissions caps improve welfare by 2.26 percentage points under comprehensive regulation and by 5.06 percentage points under firm-only regulation. Second, renewable energy subsidies and non-renewable energy taxes support renewable capital accumulation and reduce, but do not eliminate, the welfare cost of front-loaded tightening. Third, sectoral coverage changes the welfare ranking across implementation speeds. Firm-only regulation performs better under gradual implementation because it shields utility-relevant household energy services, but becomes nearly as costly as the carbon-price-only transition under immediate implementation. Fourth, endogenous fossil exploration and stock-dependent extraction costs transmit climate policy into lower extraction, fewer discoveries, and a declining shadow value of reserves, providing a structural mechanism for stranded fossil assets. The results show that deep decarbonization can be achieved at substantially lower macroeconomic cost when policy manages the speed and incidence of energy-capital reallocation. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.18994 |
| By: | Raouf Boucekkine (Aix Marseille Univ, CNRS, AMSE, Marseille, France); Weihua Ruan (Purdue University [West Lafayette]); Benteng Zou (Université du Luxembourg = University of Luxembourg = Universität Luxemburg) |
| Abstract: | We study an n-country pollution linear-quadratic differential game in which countries differ in their sensitivity to environmental damages while contributing to a common pollution stock. Such heterogeneity implies that countries value environmental quality differently and disagree on the desirable long-run environmental outcome. Consistently with the rising literature on carbon dioxide removal (CDR), we also allow for (optimal) negative emissions. We characterize the unique linear Markov-perfect (MPE) equilibrium and compare it to a centralized benchmark that maximizes aggregate welfare. We show that the inefficient steady-state pollution level at the MPE depends systematically on the distribution of damage sensitivities: intriguingly, holding average damages constant, more evenly distributed damages lead to more long-run pollution. Optimal negative emissions arise when the distribution of damage sensitives is asymmetric enough. We next show, among others, that while polarized damages reduce equilibrium pollution, they do generate distributional tensions. We therefore suggest a mechanism combining Pigouvian taxation with lump-sum transfers that can found an International Environment Agreement redistributing gains and implementing the first-best allocation despite divergent incentives. |
| Keywords: | Differential games; Asymmetric players; International Envionmental agreements; Transboundary pollution |
| JEL: | C62 C71 F53 H23 Q53 |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:aim:wpaimx:2615 |
| By: | Hilbrich, Sören; Berensmann, Kathrin |
| Abstract: | Financial markets still provide financing on a large scale for investments in environmentally harmful activities, while projects conducive to the green transformation are often not funded. Sustainable finance policies, such as new reporting requirements and standards for sustainable financial instruments, have so far mostly focused on creating transparency. However, transparency alone is insufficient to turn the financial sector from a driver of environmental crises into a lever for the green transformation. Many countries of the Global South face special challenges, including high interest rates, currency depreciation and limited opportunities to shape global policies (e.g. banking regulations and standards for sus-tainable financial instruments) in their interests. Aligning financial markets with sustainability objectives requires a comprehensive policy mix comprising policies that change incen-tives. These policies can include credit guidance instruments such as credit targets, green refinancing schemes and differentiated capital requirements, and tax policies such as differentiated capital gains taxes for green and non-green assets. International forums, such as the Network for Greening the Financial System (NGFS) and the Sustainable Banking and Finance Network (SBFN), remain valuable for mutual learning and for addressing cross-border effects of financial regulations. Policies to mobilise private resources should not be considered as a substitute for public investments or public steering, which are both crucial for the green transformation. |
| Keywords: | Green Finance, Sustainable Finance, Transparency, Credit Guidance, Central Banks, Financial Regulations |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:idospb:341382 |
| By: | Panle Jia Barwick; Jack Collison; Pinelopi Koujianou Goldberg; Shanjun Li; Yucheng Wang; Pinelopi Goldberg |
| Abstract: | We study the optimal design of trade and industrial policy when governments pursue environmental objectives alongside traditional welfare goals. Motivated by the global transition to electric vehicles (EVs) and growing concerns about competitiveness, energy security, and climate change, we develop a framework in which policymakers choose tariffs and domestic production subsidies to maximize welfare, defined as the sum of consumer surplus, domestic profits, environmental benefits, and tariff revenue. We combine a theoretical model of differentiated-product oligopoly with a structural demand model estimated using vehicle-level data from 13 countries that together account for the vast majority of global EV sales. Our central finding is that the optimal policy combines a moderate tariff on imported EVs with a subsidy to domestic EV production financed through tariff revenue. This policy substantially outperforms both outright protectionism and laissez-faire. Relative to current policies, it preserves consumer access to affordable EVs, accelerates fleet electrification, supports domestic producers, and remains budget-neutral. For the United States, the optimal policy more than doubles EV market share, generates over $45 billion in annual welfare gains, and avoids approximately 95 million tons of lifetime CO2 emissions. A key mechanism underlying these results is the pass-through of tariffs and subsidies to prices, which depends critically on demand curvature, product substitution, and market structure. More broadly, our results suggest that effective industrial policy requires careful attention to market structure and country-specific conditions, balancing consumer, producer, fiscal, and environmental objectives rather than adhering to ideological prescriptions. |
| Keywords: | industrial policy, trade policy, tariffs, subsidies, energy transition, electric vehicles |
| JEL: | F13 F14 H23 L52 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12735 |
| By: | Paloma Péligry; Grégoire Sempé |
| Abstract: | Mitigating CO2 emissions in housing through retrofits has emerged as a crucial political issue. In this paper, we assess the macroeconomic and distributional impacts of key climate policies in the residential housing market. We build a quantitative heterogeneous agent model featuring high (green) and low (brown) energy efficient houses. Brown houses are associated with an additional cost of energy and can be retrofitted to a green house. We compare the effects of three policies: a tax on energy, a tax on brown rental income and a retrofit subsidy. The taxes widen the green to brown price ratio by penalizing brown houses, whereas the subsidy reduces it by lowering the substitution cost. The energy tax raises the user cost of brown housing, tightening affordability and increasing the renter share. The tax on brown rental income generates a "brown reallocation": by decreasing brown house prices while leaving the user cost unchanged, it induces lowincome renters to transition into brown homeownership. Finally, the subsidy improves affordability, enabling low-income households to enter green homeownership. |
| JEL: | E20 E60 H23 Q58 R31 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2026.01 |
| By: | Till Köveker; Robin Sogalla |
| Abstract: | Carbon pricing policies are usually combined with compensation for exposed firms to prevent adverse competitiveness effects. In cap-and-trade systems, this carbon cost compen sation mostly occurs through free allocation of emission permits. Using an administrative panel of German manufacturing firms, this paper investigates how free allocation in the European Union Emissions Trading System affects firms’ emission reductions and competi tiveness. Leveraging a reform of free allocation rules in a continuous difference-in-differences design, we find that a reduction of freely allocated emission permits decreased firms’ emis sions and emission intensity. For firms deemed to be at risk of carbon leakage, our results suggest that this decrease is driven by energy efficiency improvements instead of outsourcing of emission-intensive production. On the other hand, we do not find statistically significant effects on firms’ employment, sales, value added, capital and exports-indicating that the reduction in free permits did not negatively affect firms’ competitiveness. |
| Keywords: | Cap and Trade, Permit Allocation, Industry Compensation, Greenhouse Gas Emissions, Competitiveness, Manufacturing Firms |
| JEL: | Q54 Q58 H23 D22 F18 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_756 |
| By: | Hönow, Nils Christian; Bensch, Gunther; Kirk, Michael |
| Abstract: | In regions with low soil fertility, smallholder farmers often clear forest to sustain agricultural yields. This pattern becomes more problematic where forest regrowth is slow, contributing to local forest loss and global environmental challenges such as climate change and biodiversity decline. This paper presents findings from a framed field experiment that examines how different types of monetary incentives affect forest-clearing decisions in northern Namibia, a semi-arid region with negligible forest regrowth. We implemented a common-pool resource game with 518 smallholder farmers across 25 villages, in which a forest stock declines dynamically based on participants' clearing decisions, without immediate regrowth. The game spans three periods: a baseline without incentives, an intervention period with individual or collective rewards or an individual fee, and a post-incentive phase. This setup allows us to assess both the immediate effects of incentives and their persistence after incentive removal. All incentive types reduce clearing compared to the baseline, but not significantly more than in the control condition, where clearing also declined - an unexpected trend likely linked to features of the dynamic game design. Incentive effects largely dissipate after removal, with no strong evidence of lasting motivational crowding-in or crowding-out. Overall, our results suggest that moderate payments may be insufficient to sustain cooperation in persistent resource dilemmas. More broadly, they highlight the importance of multifaceted analysis including control conditions and careful experimental framing in field-laboratory studies, coupled with caution in generalizing findings to other settings or policy applications. |
| Abstract: | In Regionen mit niedriger Bodenfruchtbarkeit roden Landwirte und Landwirtinnen häufig Wälder, um ihre landwirtschaftlichen Erträge aufrechtzuerhalten. Dies ist problematisch in Regionen mit geringem Waldwachstum und führt zu Verlust von Waldflächen und verstärkt globale Umweltprobleme wie Klimawandel und Biodiversitätsverlust. Diese Studie präsentiert Ergebnisse eines kontrollierten Feldexperiments, das untersucht, wie verschiedene Arten von monetären Anreizen Waldrodungsentscheidungen in der Kavango Region in Namibia, einer semi-ariden Region mit vernachlässigbarem Waldwachstum, beeinflussen. Wir führten ein Common-Pool-Resource Game mit 518 Teilnehmenden in 25 Dörfern durch, bei dem ein Waldbestand dynamisch basierend auf den Rodungsentscheidungen der Teilnehmer abnimmt, ohne unmittelbares Nachwachstum. Das Spiel erstreckt sich über drei Phasen: eine Baseline ohne Anreize, eine Interventionsphase mit individuellen oder kollektiven Belohnungen oder einer individuellen Gebühr sowie eine Phase nach den Anreizen. Dieses Setup ermöglicht es uns, sowohl die unmittelbaren Auswirkungen von Anreizen als auch deren Persistenz nach deren Entfernung zu bewerten. Alle Anreiztypen reduzieren die Rodung im Vergleich zur Baseline, aber nicht signifikant mehr als in der Kontrollbedingung, wo die Rodung ebenfalls abnahm - ein unerwarteter Trend, der wahrscheinlich mit Merkmalen des dynamischen Spieldesigns verbunden ist. Anreizeffekte lösen sich nach deren Entfernung größtenteils auf, ohne starke Belege für anhaltende motivational Crowding-in oder Crowding-out-Effekte. Insgesamt deuten unsere Ergebnisse darauf hin, dass moderate monetäre Anreize möglicherweise nicht ausreichen, um Kooperation in anhaltenden Ressourcendilemmas aufrechtzuerhalten. Allgemeiner betont unsere Studie die Bedeutung einer mehrdimensionalen Analyse, einschließlich Kontrollbedingungen und sorgfältiger experimenteller Rahmensetzung in Feld-Labor-Studien, kombiniert mit Vorsicht bei der Verallgemeinerung von Ergebnissen für politische Maßnahmen. |
| Keywords: | common-pool resources, framed field experiment, deforestation, conservation policy, sustainable land use |
| JEL: | C91 D91 Q15 Q23 Q57 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:341405 |
| By: | Lesly CASSIN (BETA Université de Lorraine); Paolo MELINDI-GHIDI (AMSE); Fabien PRIEUR (CEE-M Université de Montpellier) |
| Abstract: | This article analyzes the impact of income inequality on environmental policy in the presence of green consumers. We first perform an empirical analysis using a panel of European countries over the period 1995-2021. The results show a negative relationship between inequality and public environmental expenditure, which is weaker with higher inequality. We also find a negative correlation between environmental expenditure and green consumption, that highlights the substitutable nature of the relationship between the two variables. We next develop a model with two main ingredients: citizens with different income capacities have access to two commodities that differ in terms of environmental impact, and they vote on the environmental policy. In equilibrium, the population is divided into two groups, conventional vs green consumers. An increase in inequality raises the marginal cost of policy through size and composition effects. The higher the equilibrium tax, the larger the overall effect. This provides us with an explanation of the main empirical result. |
| Keywords: | income distribution, , inequality, green consumption, environmental public expenditure, |
| JEL: | Q58 H23 D31 D72 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2025.010 |
| By: | Dorothée Brécard (Université de Toulon, LEAD); Mireille Chiroleu-Assouline (Paris School of Economics, University of Paris 1 Panthéon-Sorbonne) |
| Abstract: | How do environmental information and awareness interact to improve environmental quality by changing consumer behavior and firm strategies? This article provides theoretical insights using an original differentiation model within a general framework whose specific cases have been studied previously. On the demand side, only informed consumers differentiate brown from green product quality, while uninformed consumers consider these perfect substitutes. Moreover, all informed consumers value the green product and devalue the brown product as a result of an aversion effect but are heterogeneous in their environmental awareness. On the supply side, two firms offer different environmental qualities and compete on price. We consider two types of environmental campaigns: one that increases the number of informed consumers and one that increases the environmental awareness of informed consumers. We show that these campaigns crucially determine three market configurations: segmented; fragmented, with a brown product that appeals to both uninformed consumers and a fraction of informed consumers; and covered. Assuming that the greenest consumer behavior is abstention, we find that both campaigns do not always lead to better environmental quality; that is, a situation in which all consumers are informed and some highly environmentally aware is not necessarily the greenest situation. Depending on the aversion effect, the budget of the campaign organizer, and the relative cost-effectiveness, information and awareness raising campaigns must be carefully combined to achieve the best possible environmental quality. |
| Keywords: | Information campaign, NGO campaign, Environmental awareness, Environmental quality, Vertical product differentiation |
| JEL: | D11 D62 D83 L15 Q58 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2025.05 |
| By: | OECD |
| Abstract: | Mongolia has set out ambitious plans to expand its transport infrastructure in the coming years. As climate-related risks such as floods and droughts intensify, ensuring that transport assets are planned and managed in a climate-resilient way will be critical to avoid locking in long-term vulnerabilities and costs. This policy paper presents findings from an OECD policy dialogue conducted in Mongolia on mainstreaming climate resilience into transport infrastructure planning and design. It outlines the rationale for strengthening climate resilience, takes stock of current policy practices and explores options to adapt transport infrastructure to a changing climate. |
| Keywords: | climate adaptation, climate change, climate resilience, infrastructure, transport |
| Date: | 2026–06–22 |
| URL: | https://d.repec.org/n?u=RePEc:oec:envaac:50-en |
| By: | Saon Ray (Indian Council for Research on International Economic Relations (ICRIER)); Kuntala Bandyopadhyay |
| Abstract: | The policy brief argues that while PAT has delivered incremental efficiency gains, it is insufficient to align industry with India's net-zero pathway or to mitigate CBAM-related trade exposure. Drawing on sectoral emissions data, international experience with carbon markets, and recent industrial decarbonization roadmaps, it highlights the potential of a well-designed CTS – robust monitoring, reporting, and verification (MRV), credible price signals, and alignment with technological transformation are needed to drive decarbonization in hard-to-abate sectors. The analysis underscores the importance of coupling carbon pricing with targeted incentives for low-carbon technologies and ensuring institutional coordination across climate, energy, and industrial policy domains. |
| Keywords: | Carbon Border Adjustment Mechanism (CBAM), Perform, Achieve, and Trade (PAT) scheme, Carbon Trading Scheme (CTS), Trade competitiveness, Industrial decarbonization, Monitoring, Reporting and Verification (MRV), icrier |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:bdc:ppaper:64 |
| By: | Majeed, Rafaqat; Audi, Marc; Ali, Amjad |
| Abstract: | The study investigates the impact of environmental, social, and governance disclosure on Pakistani listed companies' ability to engage in earnings management. The study uses panel data from Pakistan Stock Exchange-listed 45 companies from 2020 to 2024, which represents a period when Pakistan's corporate sector began to adopt sustainability reporting and governance reforms. The study assesses environmental, social, and governance disclosure through Refinitiv environmental, social, and governance scores, which include aggregate and pillar-level measurements of environmental, social, and governance disclosure dimensions. The data was gathered from financial and governance information by examining the audited annual reports and corporate governance disclosures of the selected firms. The study uses ordinary least squares regression models, which include standard firm-level control variables that already contain profitability, leverage, and firm size, market-to-book ratio, and board size and board independence as standard controls. The study establishes a negative connection between environmental, social, and governance disclosure, both at the total and pillar levels, and accrual-based earnings management through the application of stakeholder theory, legitimacy theory, and agency theory. The findings from the empirical research show that there exists no statistically significant link between total environmental, social, and governance disclosure and its separate disclosure pillars and earnings management across all tested models. The results demonstrate that Pakistani listed companies' sustainability disclosure practices currently lack sufficient strength to operate as effective governance systems, which would restrict managerial freedom in financial reporting. Firm profitability and firm size emerge as the most influential determinants of discretionary accrual behavior, while the market-to-book ratio demonstrates significance within the signed discretionary-accrual models. The result provides one of the first studies that assesses environmental, social, and governance disclosure at both firm and pillar levels, which shows its impact on earnings management in Pakistan while delivering important insights for regulators, investors, and corporate governance policymakers. |
| Keywords: | Environmental, Social, and Governance Disclosure, Earnings Management, Corporate Governance, Pakistan Stock Exchange |
| JEL: | G34 M14 M41 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129347 |
| By: | Thomas Valade; Michael Benzaquen; Matthieu Cristelli; Stanislao Gualdi; Pierre Lenders |
| Abstract: | At the intersection of rising wealth inequality and intensifying environmental pressures, we investigate a reverse causal relationship that has received comparatively little attention: wealth inequality may not only be a consequence of environmental crises, but also act as a structural obstacle to the ecological transition itself. We develop a stylized agent-based model in which heterogeneous agents, whose initial wealth follows a Pareto distribution, allocate their income between either a Brown or a Green sector through a utility function. The function is designed to capture the trade-off between short-term returns and exposure to long-term systemic risks. A central ingredient is that wealthier agents perceive themselves as less vulnerable to environmental shocks, thereby reducing the amount of resources available for the transition. We show that, beyond inequality thresholds compatible with those observed in most developed countries, the economy remains locked in a Brown regime, even when a substantial share of agents is sensitive to externalities. We then assess a set of stylized fiscal policies (basic income, carbon taxation, Green incentives, and a combined scheme) and find that their effectiveness depends strongly on the inequality regime and on the regressivity embedded in the fiscal mechanism, revealing multidimensional trade-offs between transition speed, cumulative environmental destruction, growth, and fiscal pressure. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.14331 |
| By: | Muamba Tshibangu, Malick |
| Abstract: | The article proposes an entrepreneurial model for collecting, sorting and converting plastics from the Congo River into energy. Adapted to local realities, it reduces pollution, protects ecosystems and creates economic opportunities for riparian communities within a circular economy approach. |
| Keywords: | Plastic waste, energy recovery, circular economy |
| JEL: | L26 O13 Q25 Q42 Q53 Q56 |
| Date: | 2026–01–30 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129692 |
| By: | Francesco Crespi; Nicolò Geri; Dario Guarascio; Enrico Marvasi |
| Abstract: | This paper investigates the relationship between technological capabilities, import dependency, and environmental policies, focusing on the lithium-ion battery supply chain, a critical sector for the net-zero transition. First, we develop an original analytical framework that integrates two recent streams of literature, one focusing on the acceleration of the green transition and the other on structural dependencies and technological sovereignty, to examine potential trade-offs between these objectives. Second, we develop a strategic intelligence analysis of the lithium-ion battery supply chain, allowing us to quantify import dependencies and technological capacity gaps at a highly granular product and technology level. Third, we examine how technological capabilities influence import dependency, showing under what conditions technological upgrading strengthens competitive positions and mitigates dependency. Finally, we analyse how environmental policy stringency relates to import dependency. Our findings suggest that technological upgrading can reduce dependencies without compromising environmental goals, so that the presumed trade-off between the net-zero transition and structural dependencies does not necessarily hold. In contrast, a well-designed policy mix, aligning environmental objectives with targeted innovation and industrial policies, can enhance both resilience and the acceleration towards the net-zero transition. |
| Keywords: | strategic dependencies, net-zero transition, lithium-ion batteries, import dependency, technological capabilities, environmental policy stringency |
| JEL: | F14 F18 O13 O33 Q55 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ter:wpaper:00199 |
| By: | Blagica Petreski; Marija Basheska |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:ftm:policy:2026-06/60 |
| By: | Stefano Carattini; Pamela Giustinelli; Marcella Veronesi; Pamela Giustinelli |
| Abstract: | Knowledge gaps and biased beliefs concerning both climate change and climate policy represent major obstacles to the decarbonization process. Climate education may offer a scalable solution to address such obstacles. In the context of a national reform of the school curriculum in Italy, we implemented a nationwide field experiment, training thousands of secondary school teachers across thousands of schools using a staggered design. Our intervention, a comprehensive course on climate change and climate policy, goes beyond the light-touch interventions typical in the literature. Using extensive survey data, we examine how training affects teachers' knowledge, beliefs, attitudes, behaviors, and policy preferences and, in turn, those of students. Our study highlights important initial knowledge gaps and biased beliefs about climate change among teachers and students, and provides evidence that climate education can address them at scale. Following our intervention, teachers and students also reconsider their support for climate policies. |
| Keywords: | climate change and policy, field experiment, biased beliefs, public support, climate education, secondary schools |
| JEL: | C93 D72 D83 Q54 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12720 |
| By: | Carattini, Stefano (Georgia State University); Giustinelli, Pamela (University of Padova); Veronesi, Marcella (University of Turin) |
| Abstract: | Knowledge gaps and biased beliefs concerning both climate change and climate policy represent major obstacles to the decarbonization process. Climate education may offer a scalable solution to address such obstacles. In the context of a national reform of the school curriculum in Italy, we implemented a nationwide field experiment, training thousands of secondary school teachers across thousands of schools using a staggered design. Our intervention, a comprehensive course on climate change and climate policy, goes beyond the light-touch interventions typical in the literature. Using extensive survey data, we examine how training affects teachers’ knowledge, beliefs, attitudes, behaviors, and policy preferences and, in turn, those of students. Our study highlights important initial knowledge gaps and biased beliefs about climate change among teachers and students, and provides evidence that climate education can address them at scale. Following our intervention, teachers and students also reconsider their support for climate policies. |
| Keywords: | climate change and policy, field experiment, biased beliefs, public support, climate education, secondary schools |
| JEL: | C93 D72 D83 Q54 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18702 |
| By: | Mahdi Fawaz (CEPN Ð USPN); Donatella Gatti (CEPN Ð USPN) |
| Abstract: | There is a growing consensus that policies such as carbon taxes are needed to improve environmental performance. We propose a theoretical framework and a model to examine how environmental concerns determine political support for carbon taxation and the incentives for the poor to revolt, replace the incumbent government, and achieve a fairer distribution of income. Our main result is that the incentive to revolt is an inverted U-shaped function of environmental performance. On the empirical side, we construct a normalized Social Unrest Index (SUI) based on riots and battles data from the ACLED database. Then, we analyze the determinants of SUI in a panel of 211 countries between 1997 and 2022 including a quadratic term of the EPI index (Yale University). We find an inverted U-shaped relationship that is robust in all the specifications tested. In autocratic regimes, as EPI rises from 30% to 40%, SUI predicted average almost doubles from 12.8% to 20.4%, while it falls at higher EPI levels. Our results have important policy implications. |
| Keywords: | Social Unrest, Environmental Performance, Carbon Tax, Redistribution, Democracy |
| JEL: | H23 O13 Q56 P18 P43 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2025.07 |
| By: | Christoph Böhringer; Isha Dube; Carolyn Fischer; Thomas F. Rutherford |
| Abstract: | To address concerns about competitiveness and carbon leakage, countries with ambitious climate policies are increasingly looking to combine unilateral carbon pricing with border carbon adjustments (BCA). BCA aim to create a level playing field between domestically regulated energy-intensive and trade-exposed industries and their competitors abroad by imposing charges on the (unpriced) carbon embodied in imports and (potentially) rebating carbon costs on exports. At the same time, BCA are seen as measures that may have protectionist motivation and shift the burden of climate policy onto poorer developing economies that bear less historical responsibility for climate change, have limited financial and technological capacity for decarbonization, and may depend on CO₂-intensive exports. For an informed policy debate, understanding how BCA alter the economic burden of unilateral emissions pricing across all countries is essential. However, quantitative impact estimates derived from ex-ante simulation analyses vary considerably in the applied economic literature due to divergent assumptions on key drivers whose relative importance is difficult to distinguish from the outset. Based on controlled simulations with a large-scale computable general equilibrium model of global trade and carbon use, this paper provides a systematic sensitivity analysis of three fundamental dimensions that determine the impacts of BCA: (i) the policy design of BCA; (ii) the price responsiveness of supply and demand; and (iii) the input-output data characterizing initial heterogeneities of production, consumption, and trade patterns across countries. |
| Keywords: | border carbon adjustments, multi-region input-output analysis, computable general equilibrium analysis |
| JEL: | Q58 D57 D58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12751 |
| By: | Peter Huybers; Marco Tabellini; Charles A. Taylor; Francesco Toti |
| Abstract: | What factors drove human migration before modern states, markets, and borders? We develop a sorting framework in which climate-specific subsistence knowledge depreciates with ecological distance. To test this, we use ancient DNA identity-by-descent segments to construct bilateral migration flows across Western Eurasia over the last 10, 000 years. We document three main findings. First, migration flows decline with differences in growing degree days, precipitation, and soil characteristics between origins and destinations. Second, the binding factor varies across subsistence systems: farmers exhibit strong thermal and soil matching, while pastoralists match most strongly on precipitation. Third, periods of warming increase farmer expansion while cooling increases pastoral expansion in patterns that recover known archaeological migration episodes. Migration also acts as a margin of climate adaptation: populations exposed to temperature change move to destinations that partly offset the shift. |
| JEL: | N01 N50 O13 Q54 Z13 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35371 |
| By: | Stiroh, Kevin (Resources for the Future) |
| Abstract: | Financial policy discussions related to prudential policy and “double materiality” have considered both the impact of climate change on a bank and the impact that the bank has on climate change. This paper presents an illustrative framework with a set of internally consistent definitions and linkages to facilitate productive discussions for banks, investors, and prudential and disclosure policymakers. The framework decomposes double materiality into several conceptually distinct linkages from the perspective of an individual bank: the exogenous impact of physical and transition risks, the impact of the bank’s activities on climate change and resulting risk drivers, feedback effects from the bank’s activities on its own risks, and spillover effects to other financial institutions or the broader economy. By providing clear definitions and incorporating insights from the macro-modeling literature, this framework can help promote more productive policy discussions. |
| Date: | 2026–06–16 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-26-09 |
| By: | Darina Vorobeva (EM - EMLyon Business School); Ian J. Scott (Universidade Nova de Lisboa (Portugal, Lisbon) - NOVA); Tiago Oliveira (Universidade Nova de Lisboa (Portugal, Lisbon) - NOVA); Miguel Neto (Universidade Nova de Lisboa (Portugal, Lisbon) - NOVA) |
| Abstract: | Understanding how specific energy initiatives influence broader pro-environmental behavior is essential for advancing the sustainable energy transition. This study examines how individual-level factors shape the adoption of tools designed for Demand Response (DRT) and their spillover effects on participation in Energy Communities (EC). Specifically, it investigates the role of situational motivation, tech-confidence, and personal ecological norms in driving behavioral intention, DRT use, and subsequent EC participation. Drawing on survey data from 1807 energy consumers across three EU countries and applying partial least squares structural equation modeling (PLS-SEM), the results show that intrinsic motivation, identified regulation, and external regulation significantly influence behavioral intention, while amotivation has no significant effect. Perceived trust positively affects both behavioral intention and DRT use, whereas perceived security influences DRT use only. Behavioral intention strongly predicts both DRT use and EC participation, with DRT use further acting as a key driver of EC engagement. Personal ecological norms moderate all core relationships, strengthening the link between behavioral intention and EC participation; notably, among individuals with lower ecological norms, DRT use utilizes a stronger influence on EC participation, indicating a behavioral spillover from sustainable consumer-facing DRT use to collective engagement. Overall, this study contributes to the literature by integrating motivational theory with technology adoption and pro-environmental behavior in the context of DR and EC. The findings offer practical guidance for policymakers and practitioners seeking to design inclusive, effective, and socially grounded energy initiatives that support the energy transition. |
| Keywords: | demand response, ecological norm, energy community, motivation |
| Date: | 2026–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05617990 |
| By: | Andrea Rangel (Institut de Recherche en Gestion et Economie (IREGE) and OFCE, University Savoie-Mont Blanc. 4 Chemin de Bellevue, 74940, Annecy, France.); Julie Metta (Research Group Sustainable Development, Faculty of Economics, KU Leuven, Parkstraat 47 bus 5300, 3000, Leuven, Belgium.); Aude Pommeret (Institut de Recherche en Gestion et Economie (IREGE) and OFCE, University Savoie-Mont Blanc. 4 Chemin de Bellevue, 74940, Annecy, France.) |
| Abstract: | The energy transition implies significant changes for the transport sector. In particular, the mobility of households will be largely impacted by public policies aiming at mitigating climate change. However, such policies may have adverse distributional effects that enhance the mobility cost for low-income people or even prevent them from being mobile. Therefore, we build a geographical distribution index based on availability and costs of transportation Ð a Mobility Gini. This index encompasses household heterogeneity towards transportation choices, household value of travel time and comfort, and transportation offers in the different regions. In addition, we develop the Emissions Mobility Gini to account for lack of access to clean transport. To understand the decision-making process of households, we develop a theoretical model of transport choice versus consumption of other goods. With this model, we test the effects of policies for the Just and Clean transition of the transport sector on household choices and their effects on our proposed inequality measures. Thanks to the methods proposed here, we quantify the potential inequality effects of climate policies for the transport transition. |
| Keywords: | value of travel time, transportation cost, redistribution, , household utility choice model, transportation cost, redistribution, household heterogeneity |
| JEL: | R38 R41 D63 R22 Q52 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2026.06 |
| By: | Phoebe Koundouri (Dept. of International and European Economic Studies, Athens University of Economics and Business); Angelos Alamanos; Giannis Arampatzidis; Ebun Akinsete (ICRE8); Dimitris Raptis; Anna Triantafyllidou |
| Abstract: | Crises such as rapid population and demand growth, droughts, resource availability fluctuations, and supply-chain disruptions increasingly expose hidden fragilities in socio-technical systems. At the same time, they generate political momentum and practical urgency for institutional and governance innovation, as emergency measures often become prototypes for routine practice. This paper develops a national-scale, multi-sector water-energy-emissions (W-E-E) scenario model for Rwanda and uses it to test how demand growth, hydrological stress, and supply-side choices jointly shape future energy security and emissions trajectories through 2050. The analysis shows that, under SSP2 and especially SSP5 growth conditions, emissions remain strongly demand-driven; therefore, even ambitious demand-side and supply-side measures are best interpreted as pathways that moderate, rather than fully reverse, emissions growth. The contribution of the study is to identify which combinations of efficiency, electrification, renewable deployment, thermal retirement, and hydrological risk management most effectively reduce system stress and improve resilience under compound crises. |
| Keywords: | Water-energy-emissions nexus, Multi-crisis scenario analysis, LEAP, Hydropower, Energy system resilience, Droughts, Rwanda |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2618 |
| By: | Michael Keller; Christopher R. Knittel; Benjamin Krebs; Simon Luechinger |
| Abstract: | We estimate the effect of PM₂.₅ pollution on migration between commuting zones in the United States from 2005-2019. To account for the correlation between origin and destination commuting zones’ pollution levels and potential endogeneity, we estimate a dyadic migration model and isolate permanent changes in origin and destination pollution emanating from distant coal-fired power plants. Annual panel and long-difference estimates indicate that air pollution plays a key role in relocation decisions. For the typical commuting zone, an isolated average 2005-2019 PM₂.₅ concentration decrease of 3.85 μg/m³ would avert out-migration and increase in-migration, totaling 2 percent of the population annually. |
| JEL: | Q53 R23 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35317 |
| By: | Issa SANOU (Université Paris-Panthéon-Assas) |
| Abstract: | This paper presents a new perspective on environmental tax reform. Assuming that households prefer clean goods over dirty ones, we demonstrate that implementing taxes on dirty goods alongside subsidies for clean goods can lead to an increase in employment. This rise in employment is driven by enhanced purchasing power resulting from a greater decline in prices compared to wages, motivating households to work more. As for the environmental dividend, consumption of polluting goods tends to decrease. However, an unintended feedback effect emerges due to the increased purchasing power resulting from the positive impact of subsidies on employment and the consumption of non-polluting goods. If the two types of goods are not perfect substitutes, this rise in purchasing power can lead to greater consumption of polluting goods, thereby limiting improvements in environmental quality. Hence, while subsidy policies can be more acceptable due to the employment benefit, their efficiency is still questionable. |
| Keywords: | Environmental tax, Subsidy, Clean goods, Dirty goods, Employment |
| JEL: | D62 D63 H23 Q52 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2026.04 |
| By: | Amrita Goldar (Indian Council for Research on International Economic Relations (ICRIER)); Somit Dasgupta; Sajal Jain; Diya Dasgupta |
| Abstract: | This paper evaluates the regional effects of moving towards non-fossil fuel-based capacity at the state level. It specifically examines the creation of relevant clean energy employment and the corresponding need for skilling to achieve India’s targets of reducing emissions intensity by 2030. While prior literature on energy employment has focussed more on the actual estimates of employment generated, the present study answers the question of "geographically where" employment will be generated. |
| Keywords: | Employment, energy-efficiency, renewable energy, skilling |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:bdc:wpaper:431 |
| By: | Bertolotti, Fabio; Lanteri, Andrea; Yoon, Hyeonsik |
| Abstract: | We analyze optimal subsidies for the replacement of durable assets in a model with heterogeneous producers, endogenous capital-embodied innovation, and environmental externalities that depend on capital vintages. We characterize the constrained-efficient allocation assuming a planner chooses capital replacement subject to the equilibrium evolution of innovation. Optimal subsidies equal the sum of two terms: (i) the difference in present discounted value of damages associated with old vs. new capital and (ii) the social value of innovation induced by capital replacement, net of the associated markup distortion. We generalize this formula to the case of new technologies, such as electric vehicles. We calibrate the model using empirical evidence on several types of capital, including aircraft and vehicles, and simulate the optimal transition. Initially, optimal subsidies are steeply increasing in the age of the replaced asset. In the long run, they are determined by the trade-off between innovation and markups. |
| Keywords: | Optimal policy; Environmental externalities; Innovation |
| JEL: | O44 O33 Q55 E22 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:21578 |
| By: | Draeger, Christina; Tran, Martino; Mumford, Ben |
| Abstract: | Vulnerable populations are disproportionately affected by climate change and face limited adaptive resources, yet remain largely overlooked in regional planning and decision-making. Future population composition and the spatial distribution of vulnerability shape both mitigation strategies, which reduce the magnitude of climate change, and adaptation strategies, which reduce its impacts, with direct implications for policy interventions and planning. This study provides high-resolution (1 km) population projections for Canada until 2100 across age, sex, ethnicity, income, and education under the Shared Socioeconomic Pathways. Using a novel deep learning–based population dynamics model that simultaneously predicts full population compositions and incorporates macroeconomic, governance, and land surface variables, we examine demographic shifts at national, regional, and local scales. Results reveal substantial variability across scenarios: the proportion of seniors rises most in low-mitigation-challenge scenarios, particularly along lower-emission pathways, while the share of children and youth increases most in scenarios with high mitigation challenges. Ethnic diversity expands when mitigation challenges are low but decreases or stagnates when they are high. Income and education distributions are most sensitive to adaptation challenges, with the strongest polarization of socioeconomic groups into a three-class society and the largest increase in the share of individuals without a diploma occurring when both adaptation and mitigation challenges are high, highlighting the need for high-resolution, disaggregated demographic projections to guide targeted and equitable interventions for vulnerable communities. |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:7kszw_v1 |
| By: | Fatoumata Sidibe (Tuskegee University, USA.); Lassana Toure (University of Segou); B Dembele (IER - Institut d'Economie Rurale) |
| Abstract: | Agriculture forms the backbone of the economy in most Sahel countries, providing livelihoods for thousands of people. However, it currently faces significant ecological challenges, primarily due to decreasing rainfall, climatic risks and environmental degradation. This study aimed to assess the quality of life of people in the Sahel with limited access to productive resources. The specific objectives include identifying agro ecological zones and analyzing the socioeconomic and demographic factors influencing gender-specific agro-ecological practices. The survey was conducted in three villages within the study area in Mali: Koulikoro, Ségou and Sikasso. Data were collected from 451 producers (both women and men), with 150 participants from Dougoumousso (Sikasso), 152 from Kobala Coura (Koulikoro), and 149 from Kondogola. The data were gathered using a semi-structured questionnaire during the 2020-2021 farming season. Data collection was conducted through random sampling. Descriptive statistics and multivariate models were used to analyze the data. The most common agroecological practices observed in the study area included plot plowing, hand cultivation and direct seeding. Additionally, producers engaged in practices such as organic manure application, soil and water conservation, and local crop processing, although access to training and technical support remains limited. The multivariate probit regression analysis revealed that the socioeconomic characteristics influencing agro-ecological practices vary significantly by gender in the agro-ecological zones of Mali. The gender variable was significant at the 1% level, with coefficients (β=-0.960***) and (β=-0.899***) indicating a negative impact on hand cultivation and direct sowing practices, respectively. Formal education, the age of producers, years of experience, and access to technical advice also significantly influence these practices. Agroecology emerges as a sustainable agricultural practice that minimizes chemical inputs and integrates both local and scientific knowledge. The study recommends focusing on training, better integration of women and young people, dissemination, and funding to effectively promote these practices and ensure the sustainability of agriculture in the Sahel. Overall, addressing the ecological challenges in the Sahel requires a comprehensive understanding of the socioeconomic and demographic factors influencing agro ecological practices. This study highlights the importance of education, experience and technical advice in promoting sustainable agriculture and suggests targeted interventions to improve the livelihoods of producers in the region |
| Abstract: | L'agriculture constitue l'épine dorsale de l'économie dans la plupart des pays du Sahel, en assurant les moyens de subsistance de milliers de personnes. Cependant, elle fait actuellement face à d'importants défis écologiques, principalement en raison de la diminution des précipitations, des risques climatiques et de la dégradation de l'environnement. Cette étude visait à évaluer la qualité de vie des populations du Sahel disposant d'un accès limité aux ressources productives. Les objectifs spécifiques comprenaient l'identification des zones agroécologiques et l'analyse des facteurs socioéconomiques et démographiques influençant les pratiques agroécologiques selon le genre. L'enquête a été menée dans trois villages situés dans la zone d'étude au Mali : Koulikoro, Ségou et Sikasso. Les données ont été collectées auprès de 451 producteurs (femmes et hommes), dont 150 participants à Dougoumousso (Sikasso), 152 à Kobala Coura (Koulikoro) et 149 à Kondogola. Les informations ont été recueillies à l'aide d'un questionnaire semi-structuré durant la campagne agricole 2020-2021. La collecte des données a été réalisée à partir d'un échantillonnage aléatoire. Des statistiques descriptives et des modèles multivariés ont été utilisés pour analyser les données. Les pratiques agroécologiques les plus courantes observées dans la zone d'étude comprenaient le labour des parcelles, la culture manuelle et le semis direct. En outre, les producteurs mettaient en œuvre des pratiques telles que l'application de fumure organique, la conservation des sols et de l'eau, ainsi que la transformation locale des cultures, bien que l'accès à la formation et à l'appui technique demeure limité. L'analyse de régression probit multivariée a révélé que les caractéristiques socioéconomiques influençant les pratiques agroécologiques varient significativement selon le genre dans les zones agroécologiques du Mali. La variable genre était significative au seuil de 1 %, avec des coefficients (β = -0, 960***) et (β = -0, 899***) indiquant un effet négatif sur les pratiques de culture manuelle et de semis direct, respectivement. L'éducation formelle, l'âge des producteurs, les années d'expérience et l'accès aux conseils techniques influencent également de manière significative ces pratiques. L'agroécologie apparaît comme une pratique agricole durable qui minimise l'utilisation d'intrants chimiques et intègre à la fois les savoirs locaux et scientifiques. L'étude recommande de renforcer la formation, de mieux intégrer les femmes et les jeunes, d'améliorer la diffusion des connaissances et de mobiliser des financements afin de promouvoir efficacement ces pratiques et d'assurer la durabilité de l'agriculture au Sahel. Dans l'ensemble, la résolution des défis écologiques au Sahel nécessite une compréhension approfondie des facteurs socioéconomiques et démographiques qui influencent les pratiques agroécologiques. Cette étude met en évidence l'importance de l'éducation, de l'expérience et de l'accès aux conseils techniques dans la promotion d'une agriculture durable et suggère des interventions ciblées pour améliorer les moyens de subsistance des producteurs de la région. |
| Keywords: | modèle multivarié, facteurs socioéconomiques, pratiques agroécologiques, Genre, socioeconomic factors Agroécologie malienne, multivariate model, agroecological practice, gender, Malian agroecology |
| Date: | 2025–09–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05553501 |
| By: | Felix Bierbrauer (University of Cologne); Mattias Polborn (Vanderbilt University); Marten Ritterrath (VATT Institute for Economic Research & University of Cologne); Georg Weizsäcker (Humboldt-Universität zu Berlin) |
| Abstract: | We study the political economy of carbon taxes when neoclassical consumers take all other agents' emissions as given and socially responsible consumers internalize damages in a group-rule-utilitarian way, taking neoclassical consumers' behavior as given. We characterize political equilibrium taxes with a focus on deviations from first-best Pigouvian taxation. Welfare falls further if arguments on moral obligations to reduce carbon footprints polarize the debate in society. Finally, we present survey evidence that supports our theory: social responsibility correlates with lower consumption of brown goods, higher preferred carbon taxes, and support for moral arguments. |
| Keywords: | Political economy of taxation, carbon taxes, ethical behavior, moral dissent |
| JEL: | C9 D11 D72 H23 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:ajk:ajkdps:419 |
| By: | Oriane Lafuente-Sampietro (UNIROUEN - Université de Rouen Normandie - NU - Normandie Université, LASTA - Laboratoire d'Analyse des Sociétés, Transformations et Adaptations - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université); Miguel Stuardo-Concha (LASTA - Laboratoire d'Analyse des Sociétés, Transformations et Adaptations - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université, UNIROUEN - Université de Rouen Normandie - NU - Normandie Université) |
| Abstract: | This paper presents the initial findings of the TerrLowTech research project, funded by the Normandy Region through the Normandie Recherche - Projets Émergents program. The project examines the framework of low-tech technological development as a potential driver of social and ecological transition and as a key component of a regional economic community. It aims to analyze how Normandy-based actors are adopting the concept of low-tech, their production practices, their organizational models, and their economic potential in support of the region's sustainability and resilience. Particular attention is paid to the regional roots of this emerging community and its links with actors in the Social and Solidarity Economy (SSE). Low-tech is understood as a set of low-intensity, accessible, and sustainable technologies with low energy and ecological impacts (Low-Tech Lab, n.d.), but also as a distinct approach to production and consumption (Bloquel et al., 2022). It is adopted by economic actors seeking to shift their production practices toward models that are more sustainable and resilient to climate change. These actors appear to collaborate and organize at the local level through forms of territorialized cooperation and coordination. To analyze these dynamics, this paper draws on the theoretical frameworks of entrepreneurial ecosystems (Messeghem, Theodoraki & Carayannis, 2023), localized production systems (Sarrazin, 2016), technology clusters (Savoie-Dansereau, 2018; Doloreux & Savoie-Dansereau, 2019), as well as the concepts of territorial intermediation (Nadou & Pecqueur, 2020) and organized proximities (Gilly & Torre, 2000; Torre, 2018). The aim is to examine the unifying nature of the low-tech concept and its ability to structure a territorialized community of actors, as well as the role and permeability of SSE structures within this ecosystem, and the permeability between the two environments. The results presented are based on the project's first qualitative phase, which drew on approximately twenty semi-structured interviews analyzed according to the principles of grounded theory (Allard, Genest & Legault, 2020). The study also draws on public data from documents, websites, and social media to propose an initial mapping of Normandy-based organizations structuring their relationships around low-tech, using a network analysis approach based on digital objects. |
| Abstract: | Esta comunicación presenta los primeros resultados del proyecto de investigación TerrLowTech, financiado por la Región de Normandía a través del programa «Normandie Recherche - Projets Émergents». El proyecto analiza el marco del desarrollo tecnológico «low-tech» como posible vector de transición social y ecológica y como elemento estructurante de una comunidad económica territorial. Su objetivo es analizar la apropiación del concepto de «low-tech» por parte de los actores normandos, sus prácticas productivas, sus modos de organización y su potencial económico al servicio de la sostenibilidad y la resiliencia del territorio. Se presta especial atención al arraigo territorial de esta comunidad emergente y a sus vínculos con los actores de la Economía Social y Solidaria (ESS). La «low-tech» se entiende como un conjunto de tecnologías de baja intensidad, accesibles y sostenibles, con un bajo impacto energético y ecológico (Low-Tech Lab, s. f.), pero también como un enfoque de producción y consumo en sí mismo (Bloquel et al., 2022). Es adoptada por agentes económicos que desean orientar sus prácticas productivas hacia modelos más sostenibles y resilientes frente al cambio climático. Estos agentes parecen colaborar y organizarse a escala local, a través de formas de cooperación y coordinación territorializadas. Para analizar estas dinámicas, la comunicación recurre a los marcos teóricos de los ecosistemas empresariales (Messeghem, Theodoraki y Carayannis, 2023), los sistemas productivos localizados (Sarrazin, 2016), los clústeres tecnológicos (Savoie-Dansereau, 2018; Doloreux y Savoie-Dansereau, 2019), así como los conceptos de intermediación territorial (Nadou y Pecqueur, 2020) y de proximidades organizadas (Gilly y Torre, 2000; Torre, 2018). Se trata de analizar el carácter federador del concepto de «low-tech» y su capacidad para estructurar una comunidad de actores territorializada, así como el lugar y la porosidad de las estructuras de la ESS dentro de este ecosistema, y la porosidad entre ambos entornos. Los resultados presentados se basan en la primera fase cualitativa del proyecto, fundamentada en una veintena de entrevistas semiestructuradas analizadas según los principios de la teoría anclada (Allard, Genest & Legault, 2020). El estudio también recurre a datos públicos procedentes de documentos, sitios web y redes sociales, con el fin de proponer una primera cartografía de las organizaciones normandas que estructuran sus relaciones en torno a la low-tech, siguiendo un enfoque de análisis de redes a partir de objetos digitales. |
| Abstract: | Cette communication présente les premiers résultats du projet de recherche TerrLowTech, financé par la Région Normandie via le dispositif Normandie Recherche -Projets Émergents. Le projet interroge le cadre de développement technologique low-tech comme possible vecteur de transition sociale et écologique et comme élément structurant d'une communauté économique territoriale. Il vise à analyser l'appropriation du concept de low-tech par les acteurs normands, leurs pratiques productives, leurs modes d'organisation et leur potentiel économique au service de la soutenabilité et de la résilience du territoire. Une attention particulière est portée à l'ancrage territorial de cette communauté émergente et à ses liens avec les acteurs de l' Économie sociale et solidaire (ESS). La low-tech est entendue comme un ensemble de technologies de basse-intensité, accessibles et durables, à faible impact énergétique et écologique (Low-Tech Lab, s.d.), mais aussi comme une démarche de production et de consommation à part entière (Bloquel et al., 2022). Elle est mobilisée par des acteurs économiques souhaitant orienter leurs pratiques productives vers des modèles plus soutenables et résilients face aux changements climatiques. Ces acteurs semblent collaborer et s'organiser à l'échelle locale, à travers des formes de coopération et de coordination territorialisées. Afin d'analyser ces dynamiques, la communication mobilise les cadres théoriques des écosystèmes entrepreneuriaux (Messeghem, Theodoraki & Carayannis, 2023), des systèmes productifs localisés (Sarrazin, 2016), des grappes technologiques (Savoie-Dansereau, 2018 ; Doloreux & Savoie-Dansereau, 2019), ainsi que les notions d'intermédiation territoriale (Nadou & Pecqueur, 2020) et de proximités organisées (Gilly & Torre, 2000 ; Torre, 2018). Il s'agit d'interroger le caractère fédérateur du concept de low-tech et sa capacité à structurer une communauté d'acteurs territorialisée, ainsi que la place et la porosité des structures de l'ESS au sein de cet écosystème, ainsi que la porosité entre les deux milieux. Les résultats présentés s'appuient sur la première phase qualitative du projet, fondée sur une vingtaine d'entretiens semi-directifs analysés selon les principes de la théorie ancrée (Allard, Genest & Legault, 2020). L'étude mobilise également des données publiques issues de documents, de sites web et de réseaux sociaux, afin de proposer une première cartographie des organisations normandes structurant leurs relations autour de la low-tech, selon une approche d'analyse des réseaux à partir d'objets numériques. |
| Keywords: | écosystème low, tech, soutenabilité, écosystèmes entrepreneuriaux, écosystème low tech soutenabilité écosystèmes entrepreneuriaux |
| Date: | 2026–05–20 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05642944 |
| By: | Amrita Goldar (Indian Council for Research on International Economic Relations (ICRIER)); Amit Kumar; Kartik Nair |
| Abstract: | Rajasthan is among India's most drought-prone states, with more than 60 per cent of the districts in high-risk zones, where recurrent water scarcity and drought occur. Understanding the spatial patterns of drought vulnerability is therefore critical for designing targeted adaptation and resource management strategies. This policy brief presents a geospatial analysis of drought vulnerability and its implications for crop productivity across districts of Rajasthan. |
| Keywords: | Vulnerability analysis, Drought vulnerability, Geospatial analysis, Rajasthan, Sub-national assessment, icrier |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:bdc:ppaper:71 |
| By: | Jean-Michel Salles (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Guy Richard (DEPE - Direction de l'Expertise scientifique collective, de la Prospective et des Etudes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Michel Colombier (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris) |
| Abstract: | Les climats se dérèglent, les écosystèmes se dégradent et pourtant, à l'échelle mondiale, le revenu moyen par habitant, l'espérance de vie et les niveaux d'éducation continuent d'augmenter. Ce décalage constitue l'un des paradoxes les plus dérangeants du débat environnemental contemporain. Explorer tous les facteurs explicatifs est primordial pour réfléchir aux manières d'agir et de communiquer à l'ère du changement climatique. |
| Date: | 2026–06–11 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05655802 |
| By: | François-Charles Wolff (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université, TEPP - Théorie et évaluation des politiques publiques - CNRS - Centre National de la Recherche Scientifique); Yohan Renard (LEO - Laboratoire d'Économie d'Orleans [2022-...] - UO - Université d'Orléans - UT - Université de Tours - UCA - Université Clermont Auvergne) |
| Abstract: | Eco-certification initiatives are market-based solutions that create incentives for producers to adopt sustainable practices and preserve ecosystems. These initiatives rely on the assumption that producers will receive a price premium sufficient to encourage engagement with and commitment to eco-labels. This paper explores the price differential associated with the eco-certification of a bluefin tuna fishery in Les Sables d'Olonne, on the French Atlantic coast, on prices obtained by certified vessels at auction. Using unique transaction data from 2015 to 2024 and a difference-in-differences strategy, we find that eco-certified vessels experience a 10% price premium after certification compared to non-certified vessels. However, the daily premiums associated with ecocertification vary considerably. |
| Keywords: | Eco-certification, Sustainable fishing, Ex-vessel fish prices, Price premium |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05626899 |
| By: | Hugo Emenegger (Nantes Université); Clément Cohic (Nantes Université); Sophie Pardo (Nantes Université); Agnès Baltzer (Nantes Université); Elsa Cariou (OSUNA) |
| Abstract: | Assessing the impacts of climate change is essential to making informed decisions about protective planning against climate risks. These impacts can be direct (resulting from the physical effect of the hazard on assets) or indirect (arising from direct impacts). The evaluation of direct damages is relatively consensual and is usually conducted through damage stage-damage functions. However, the evaluation of indirect damages creates significant debate within the scientific community. This article proposes a volumetric analysis of the indirect impacts of sea level rise on insular economic activity. One of the characteristics of the Island of YeuÕs economy is its strong dependence on imports from the mainland. The method presented here estimates the concrete effects of a disruption in maritime connections between the island and the mainland for each economic entity of the territory, defining thresholds of impact ranging from stockout to generalized shortages across the island. This research also allows us to observe certain aggravating factors of impacts, particularly those related to the tourism economy. Results show, for example, that the hotel and catering sector is the most vulnerable to this risk and could experience a stockout after five days without island resupply. This result leads to a risk of shortages, exacerbated during the summer period by the sharp increase in the number of people on the island. The work presented leads us to consider volumetric analysis of indirect impacts as complementary to monetary evaluation methods, since it produces results at the micro- and meso-economic levels of a radically different nature, enabling the identification of levers of action to better protect the assets of a territory. |
| Keywords: | indirect impact, climate change, evaluation, ripple effect, vulnerability |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2026.03 |
| By: | Ralf Martin; Maxwell Read; Arjun Shah; Anna Valero; Dennis Verhoeven |
| Abstract: | Spillovers from innovation can boost regional growth |
| Keywords: | Green Growth, UK Economy |
| Date: | 2026–06–19 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepcnp:734 |
| By: | Mdhlalose, Dickson |
| Abstract: | The Balanced Scorecard (BSC), originally developed by Kaplan and Norton in 1992, remains one of the most widely referenced strategic performance management frameworks globally. However, the question of whether South Africa's largest corporations, as represented by the JSE Top 40 index, continue to use the BSC as a living strategic instrument or have allowed it to calcify into a static compliance exercise is both empirically underexplored and strategically consequential. This paper examines the current use, adaptation, and perceived effectiveness of the BSC among JSE Top 40 companies, with specific attention to two transformative pressures: digital disruption, which is reshaping the technological infrastructure of performance management; and environmental, social, and governance (ESG) imperatives, which are demanding a fundamental reconceptualisation of the dimensions of corporate value creation. Drawing on an integrative review of 60 peer-reviewed and practitioner sources published between 2020 and 2026, the paper argues that the BSC is neither obsolete nor adequate in its classical form. Rather, a new generation of adaptive, digitally enabled, and ESG-integrated BSC architectures is emerging among leading JSE companies, though uptake is uneven and the quality of adoption varies considerably. The paper contributes a conceptual evolution framework, synthesises the latest empirical evidence on JSE adoption patterns, and offers recommendations for boards, executives, and management accountants seeking to restore the BSC's strategic vitality. |
| Keywords: | Balanced Scorecard (BSC), JSE Top 40, Environmental, Social, and Governance (ESG) integration, Digital performance management, Strategy execution |
| JEL: | M41 M19 L20 G34 Q56 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:341497 |
| By: | George Kapetanios; Steven Ongena; Alexia Ventouri; Huiyan Xiao |
| Abstract: | This paper examines how firm-level determinants of industrial emissions evolve over time as firms adapt to environmental regulation, economic conditions, and organisational constraints. Using a panel of 204 U.S. industrial facilities observed from 1992 to 2023, we link facility-level emissions from the Toxics Release Inventory to firm financial characteristics, managerial attributes, local labour-market conditions, and aggregate macroeconomic indicators. We employ a time-varying mean-group estimator that allows average relationships to change smoothly over time while accommodating persistent heterogeneity across facilities. We find several covariates display episodic associations with emissions growth. The results reveal pronounced stage-like dynamics in emissions determinants, with firm-level characteristics and aggregate conditions dominating in different periods. From an innovation-policy perspective, the findings highlight that firms' responses to environmental regulation are time-dependent and shaped by their adaptive capacity. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2605.22994 |
| By: | Eßer, Jana |
| Abstract: | Carbon pricing is a key policy tool for mitigating climate change by increasing prices and thereby reducing demand for carbon-intensive products and activities. However, be- havioral effects - such as crowding-in or -out of intrinsic motivation, moral licensing, or defiant behavior - can either amplify or weaken its standalone price effect. This study examines the behavioral effects of carbon pricing on the demand for fuel using a multiple price list approach in an incentivized online survey experiment, which was conducted in 2024 in Germany in a general population sample of 2, 600 participants. The findings sug- gest that carbon price salience crowds in intrinsic motivation on average compared to a situation in which carbon pricing is in place but less salient, reinforcing the price effect. In contrast, in certain subgroups this salience weakens the price effect and tends to even increase demand for fuel due to crowding-out of intrinsic motivation and moral licensing. |
| Abstract: | Die CO2-Bepreisung ist ein zentrales politisches Instrument zur Eindämmung des Klimawandels. Sie erhöht die Preise und senkt dadurch die Nachfrage nach CO2-intensiven Produkten und Aktivitäten. Verhaltensauswirkungen wie das Verdrängen oder Hervorrufen intrinsischer Motivation, moralische Lizenzierung oder Trotzreaktionen können jedoch den reinen Preiseffekt entweder verstärken oder abschwächen. In dieser Studie werden die Verhaltensauswirkungen der CO2-Bepreisung auf den Kraftstoffverbrauch untersucht. Dazu wurde ein Multiple-Price-List-Ansatz in einem incentivierten Online-Befragungsexperiment verwendet, das 2024 in Deutschland mit einer Stichprobe von 2.600 Teilnehmenden aus der Allgemeinbevölkerung durchgeführt wurde. Die Ergebnisse deuten darauf hin, dass die Sichtbarkeit des CO2-Preises im Durchschnitt die intrinsische Motivation verstärkt im Vergleich zu einer Situation, in der die CO2-Bepreisung zwar vorhanden, aber weniger sichtbar ist. Dies verstärkt den Preiseffekt. In bestimmten Untergruppen schwächt diese Sichtbarkeit jedoch den Preiseffekt und führt aufgrund der Verdrängung der intrinsischen Motivation und moralischer Lizenzierung tendenziell sogar zu einem Anstieg der Nachfrage nach Kraftstoff. |
| Keywords: | carbon pricing, willingness to pay, demand for fuel, motivation crowding, moral licensing |
| JEL: | C93 D01 D12 D91 Q41 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:341634 |
| By: | Karine Constant (University of Orléans (LEO)); Marion Davin (CEE-M, Univ Montpellier); Emmanuelle Lavaine (CEE-M, Univ Montpellier) |
| Abstract: | This study investigates whether income inequality within a population influences the health effects of pollution. Specifically, we empirically estimate the causal impact of particulate matter (PM10) on mortality in France, using wind direction as an instrumental variable, and explore how income inequality modifies this relationship. Our findings reveal a statistically and economically significant impact of pollution exposure on the mortality of individuals aged 50 or older, which intensifies in municipalities with higher levels of income inequality. More precisely, while the effect of PM10 is not significant in municipalities with the lowest levels of disparities, it is significant for the others and increases with the level of inequality within the municipalities. The impact of PM$_{10}$ on the mortality of individuals aged 50 or older in the top 33% of municipalities with the highest inequality is up to twice as large as in municipalities with intermediate levels of inequality. This result is particularly striking given that it concerns a country like France, which has relatively low income inequality. To provide a comprehensive understanding of the potential underlying mechanisms, we develop a theoretical model and empirically test its predictions. We conclude that the observed variation in vulnerability to pollution across municipalities, stratified by inequality levels, could have been but is not attributable to differences in public health expenditure, pollution exposure (between and within municipalities), or poverty prevalence and intensity. Our results suggest that inequality plays a significant role in environmental health, worthy of further research. |
| Keywords: | Income inequality, Air pollution, Particulate matter, Mortality, Health expenditures |
| JEL: | I14 Q53 Q56 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2025.06 |
| By: | Oleynov, Anton |
| Abstract: | Contemporary sustainability debates increasingly recognize that ecological crises cannot be understood solely through assumptions of rational utility maximization and growth-centered development. Drawing on insights from behavioral economics, well-being research, and sustainability studies, the paper develops a broader conception of utility that incorporates emotional, relational, and cultural dimensions of human welfare. It makes three contributions. First, it proposes emotional utility, relational utility, and cultural utility as complementary dimensions of human welfare that help explain why well-being depends upon psychological stability, social relationships, and culturally meaningful forms of life. Second, it introduces the concept of behavioral sustainability, defined as the long-term reproduction of sustainable patterns of behavior through supportive social, emotional, cultural, and institutional conditions. Third, it illustrates the relevance of this framework through the case of Thailand, where concepts such as sabai-sabai, kreng jai, nam jai, and the Sufficiency Economy Philosophy reflect culturally grounded understandings of well-being that go beyond material accumulation. The analysis suggests that sustainability should be evaluated not only according to ecological outcomes and economic performance but also according to its capacity to support trust, belonging, resilience, and enduring quality of life. Sustainable development therefore requires conceptions of welfare that account for what people need to live well, not only what they consume. |
| Date: | 2026–06–08 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:2n43g_v1 |
| By: | Hirose, Kosuke; Matsumura, Toshihiro |
| Abstract: | Motivated by the global trend toward carbon neutrality, this study investigates the relationship between emissions tax rates that achieve net-zero emissions and market competition. Specifically, we examine how the number of firms, the degree of payoff interdependence among firms, the mode of competition, and the level of product differentiation affect the carbon-neutral emissions tax. We find that, in a standard model formulation, the carbon-neutral emissions tax decreases as the number of firms increases (Proposition 1), whereas it increases as the degree of payoff interdependence weakens (Proposition 2). Proposition 1 (2) suggests that the carbon-neutral tax rate is lower (higher) when industry competition is more intense. However, upon further analysis, we conclude that stronger competition leads to higher carbon-neutral emissions tax rates. Specifically, when industry cost efficiency is independent of the number of firms, the carbon-neutral emissions tax increases with the number of firms (Proposition 3). This finding indicates that the number of firms might not always be a reliable measure of market competitiveness without appropriate adjustments. Additionally, we compare two competition modes, Bertrand and Cournot competition, and investigate the effect of product differentiation. We obtain similar results. Our findings suggest that carbon neutrality can be achieved with a lower emissions tax than that estimated under perfect competition, because most heavy-emissions industries are characterized by imperfect competition. |
| Keywords: | net-zero-emissions industries; overlapping ownership; emissions tax; competition measures; convex costs; heterogeneous emissions intensities; Cournot-Bertrand comparison |
| JEL: | L13 L51 Q52 |
| Date: | 2025–09–14 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129346 |
| By: | Sphiwe B. Skhosana (Department of Statistics, University of Pretoria, Pretoria, South Africa. National Institute for Theoretical and Computational Sciences (NITheCS), Gauteng node, University of Pretoria, South Africa); Abeeb O. Olaniran (Department of Economics, University of Pretoria, Pretoria, South Africa); Najmeh Nakhaei Rad (Department of Statistics, University of Pretoria, Pretoria, South Africa. National Institute for Theoretical and Computational Sciences (NITheCS), Gauteng node, University of Pretoria, South Africa); Rangan Gupta (Department of Economics, University of Pretoria, Pretoria, South Africa) |
| Abstract: | The environmental Kuznets curve (EKC) postulates an inverted-U relationship between environmental quality and economic performance. Recent studies examine the EKC hypothesis across groups of countries (e.g., developing and OECD) by considering the impact of economic complexity (a measure of economic performance) on CO2 emissions (a measure of environmental quality). However, most of the studies impose, possibly, restrictive assumptions on the data: (1) all countries are assumed to follow the same developmental path and hence EKC; (2) the functional relationship between CO2 emissions and economic complexity is assumed to have a known parametric form. In this paper, we propose to relax these assumptions. First, we allow for the possibility that countries may follow different developmental paths by using the mixture of experts (MoE) approach. This gives rise to multiple EKCs. The MoE approach further allows us to endogenously identify different developmental paths and thus accounts for unobserved heterogeneity. Moreover, this approach allows us to probabilistically classify each country into any one of the obtained developmental paths. Second, we assume that the functional relationship between CO2 emissions and economic complexity is represented by a nonparametric (unknown) function of economic complexity. This allows the EKC the flexibility to take any form based on the data. Therefore, each expert regression model is a partially linear model (PLM). In contrast to existing PLMs, we allow the nonparametric part to be a multivariate function of any dimension. For model estimation, we propose a maximum likelihood estimation procedure through a hybrid algorithm that combines feed-forward neural networks (NN) with the classical expectation-conditional-maximization (ECM) algorithm, termed the ECM-NN algorithm. We use a simulation study to demonstrate the performance of this estimation procedure across various scenarios with different dimensions of the nonparametric function. Finally, we apply the proposed methods to a cross-country panel dataset of 64 countries spanning 2003 to 2022 and find two developmental paths in which the EKC holds. |
| Keywords: | Environmental Kuznets Curve (EKC), Economic complexity, Expectation-conditional-maximization, Mixture of experts, Neural networks, Partially linear models |
| JEL: | C14 C33 C45 Q56 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:pre:wpaper:202618 |
| By: | Behnaz Minooei Fard; Giovanni Di Bartolomeo; Willi Semmler |
| Abstract: | This study analyzes the dynamics of the global rare earth element (REE) market, with a focus on China's dominant role as the primary supplier, which is crucial for the energy transition and digitalization. Using a game-theoretic approach, the research examines a potential duopoly market structure that may emerge over time, as well as potential shifts in supply from China to other countries in this scenario. It considers China's low marginal costs and factors like resource extraction and discoveries. Additionally, the study examines the strategic market interactions, the role of technological advancements, and policy support in shaping market outcomes. The methodology incorporates the assumption that agents have limited foresight and use a learned value function to strategically assess outcomes based on their own and others' actions while accounting for environmental constraints. |
| Keywords: | Rare earth elements, Game theory, Duopoly, Known reserves dynamics, Policy support, Relative scarcity, NMPC, Reinforcement learning |
| JEL: | C61 C7 Q3 |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:ter:wpaper:00184 |
| By: | Matthieu Mastio (UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, IRIT - Institut de recherche en informatique de Toulouse - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - Toulouse INP - Institut National Polytechnique (Toulouse) - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EPE UT - Université de Toulouse - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - TMBI - Toulouse Mind & Brain Institut - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EPE UT - Université de Toulouse - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Gaudou Benoit (UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, IRIT-SMAC - Systèmes Multi-Agents Coopératifs - IRIT - Institut de recherche en informatique de Toulouse - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - Toulouse INP - Institut National Polytechnique (Toulouse) - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EPE UT - Université de Toulouse - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - TMBI - Toulouse Mind & Brain Institut - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EPE UT - Université de Toulouse - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, IRIT - Institut de recherche en informatique de Toulouse - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - Toulouse INP - Institut National Polytechnique (Toulouse) - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EPE UT - Université de Toulouse - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - TMBI - Toulouse Mind & Brain Institut - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - EPE UT - Université de Toulouse - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Tiruta-Barna Ligia (TBI - Toulouse Biotechnology Institute - INSA Toulouse - Institut National des Sciences Appliquées - Toulouse - INSA - Institut National des Sciences Appliquées - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Guiraud Pascal (TBI - Toulouse Biotechnology Institute - INSA Toulouse - Institut National des Sciences Appliquées - Toulouse - INSA - Institut National des Sciences Appliquées - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Girard Gaëtan (TBI - Toulouse Biotechnology Institute - INSA Toulouse - Institut National des Sciences Appliquées - Toulouse - INSA - Institut National des Sciences Appliquées - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, LEREPS - Laboratoire d'Etude et de Recherche sur l'Economie, les Politiques et les Systèmes Sociaux - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - Institut d'Études Politiques [IEP] - Toulouse - ENSFEA - École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville) |
| Abstract: | Industrial symbiosis (IS) is a key mechanism of circular economy, enabling firms to reuse industrial byproducts as productive inputs. However, IS-focused approaches typically consider only firms exchanges and neglect the role of final consumers, which limits their ability to represent the full dynamics of circular economy. This paper extends a spatially explicit agent-based model, in which heterogeneous firms trade residual resources locally and prices emerge endogenously from transport costs, disposal penalties, and adaptive pricing strategies. While this baseline captures the emergence of industrial symbiosis, it is not sufficient to model circular economy dynamics. We therefore extend the framework toward a full circular economy by incorporating production cycles, final consumers, and environmental attributes of products. |
| Keywords: | Distributed Market Analysis, Circular Economy, Industrial Symbiosis, Spatial Agent-Based Simulation |
| Date: | 2026–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05590154 |
| By: | Silvian M. Radke; Philipp C. Verpoort; Falko Ueckerdt; Felix M\"usgens |
| Abstract: | Despite growing concerns over energy security, infrastructure planning and modelling for emerging green fuel supply chains often neglect risks from supply disruptions. Using a stochastic optimisation model of EU hydrogen imports, we show that 'naive' infrastructure planning results in welfare losses of 12 % (24 billion EUR) compared to risk-aware planning that anticipates supply disruptions. Despite requiring higher upfront investments, anticipatory planning achieves welfare levels close to those of an idealised system without disruptions, but entails a markedly different infrastructure configuration. Two complementary resilience strategies emerge: diversification across import corridors and strategic over-investment. This leads to increased intra-European transport capacity, a broader set of import pipelines, and investments in costly shipping terminals for hydrogen carriers. Our results show that incorporating supply risk considerations into infrastructure planning helps prevent the structural vulnerabilities seen in fossil fuel systems when designing future hydrogen supply chains. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.09190 |
| By: | Jan Mutke; Jonas Finke; Katharina Esser; Heidi Heinrichs |
| Abstract: | Decarbonising energy systems reduces emissions and fossil fuel dependency, but expanding renewables increases demands for critical raw materials. Most energy system models, however, neglect material demands, putting the material feasibility of energy scenarios at question. We combine a systematic review of 59 highly decarbonised European energy system modelling studies with a quantitative ex-post assessment of material demands for 5 key technologies and 19 materials. We find that material demands exceed Europe's population-based shares of current global reserves for seven materials (Ga, In, Ir, Te; less pronounced for Ag, Se, V), in particular if multiple sectors of the energy system are considered. Competing non-energy demand further amplifies the scarcity, while technological innovation can either alleviate or intensify it. We conclude that energy efficiency, recycling, expanding reserves and technological innovation may only partly address the identified shortages and call for energy sufficiency measures to achieve sustainability in the energy-material nexus. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.12201 |
| By: | Claessens, Stijn; Kapoor, Sony |
| Abstract: | Guarantees are often presented as a powerful tool to mobilise climate finance in developing countries, yet their impact is frequently overstated. This paper argues that guarantees can play a much larger catalytic role, but only when they address specific market failures and are embedded within broader financing strategies. Real additionality requires simpler and more coordinated guarantee structures, stronger project pipelines, greater use of local-currency solutions, and closer integration with concessional finance and country-led investment platforms. |
| Keywords: | emerging markets, developing countries, external financing, climate change, guarantees, market failures, externalities, development finance, multilateral development banks. |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:cpm:notfdl:2605 |
| By: | Flagner, Stefan (Maastricht University); Eichholtz, Piet (Maastricht University); Kok, Nils (Maastricht University); Kramer, Rick (Eindhoven University of Technology); Künn, Steffen (Maastricht University); van Marken Lichtenbelt, Wouter (Maastricht University); Plasqui, Guy (Maastricht University); Sun, Xudong (Maastricht University) |
| Abstract: | This study examines how improvements in indoor environmental quality affect student satisfaction and academic performance in higher education. We conducted a randomized field experiment involving 1, 258 first-year undergraduate students at Maastricht University, who were randomly assigned to tutorial groups located either in a recently renovated building with improved indoor environmental quality or in a conventional control building. We find that students in the treatment building report significantly higher satisfaction with indoor environmental quality and the overall learning environment. However, these improvements do not translate into measurable effects on academic performance, study effort, or tutor evaluations. |
| Keywords: | indoor environmental quality, higher education, human capital accumulation, satisfaction, field experiment |
| JEL: | I21 I23 I31 J24 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18697 |
| By: | Jean-Pierre Ponssard (CREST, Ecole Polytechnique); Quentin Hoarau (EconomiX, Université Paris-Nanterre) |
| Abstract: | This paper analyzes the adoption of Carbon Capture and Storage (CCS) in the cement industry, a hard-to-abate sector, by modeling firms' strategic choices of adoption timing as a continuous-time game under Cournot competition. The model considers a polluting technology whose cost increases over time due to the social cost of carbon, and a clean CCS technology involving a fixed sunk cost. We find that imperfect competition in the cement sector delays CCS adoption, with a Pareto-dominant Nash equilibrium corresponding to simultaneous adoption. We examine two types of public policies to correct this inefficiency: a subsidy on the fixed cost of CCS and a time-dependent subsidy on profit flows. While both instruments can lead to socially optimal adoption, the fixed-cost subsidy is easier to implement but more expensive. Our numerical application shows that, in the absence of policy intervention, CCS adoption is delayed by ten years relative to the social optimum. To achieve the optimal timing, the fixed-cost subsidy would need to cover about 70\% of the investment cost, while the time-dependent subsidy would be roughly three times less expensive. |
| Keywords: | cement, CCS, imperfect competition, innovation games, |
| JEL: | L13 O31 Q5 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2025.08 |
| By: | Kamal Chakir (Université Ibn Zohr = Ibn Zohr University [Agadir]) |
| Abstract: | This article explores the resilience of Moroccan territories facing economic and environmental shocks through a qualitative documentary analysis of adaptation and diversification strategies. In a global context marked by increasing volatility of economic markets and intensification of extreme climatic phenomena, understanding the mechanisms through which territories develop and maintain their resilience has become crucial. Morocco, as an emerging country located in a geographically and climatically vulnerable region, is particularly exposed to these shocks, whether of economic origin or environmental origin.Given the scarcity of disaggregated regional empirical data suitable for spatial econometric modeling, this study adopts a qualitative documentary approach to identify and analyze adaptation and diversification strategies implemented by institutional actors and researchers. This methodology proves particularly relevant as it allows for in-depth exploration of perceptions, strategies, and discourses of key actors through the analysis of official reports, national and regional strategic documents, as well as relevant scientific articles. This approach offers a wealth of contextual information and a nuanced understanding of resilience dynamics, enabling comprehension of how and why strategies are implemented, beyond simply measuring their impact.The documentary corpus includes reports from key Moroccan institutions such as the High Commission for Planning (HCP), the Economic, Social and Environmental Council (CESE), the Ministry of Economy and Finance, as well as local resilience strategies for cities like Fez and Mohammedia, the National Climate Plan 2020-2030, and World Bank publications. The qualitative analysis was conducted through two complementary stages: lexicographic analysis and thematic analysis, utilizing functionalities inspired by QSR.NVivo and MAXQDA software to systematically extract and organize information.Results obtained through lexicographic and thematic analyses reveal several key themes structuring territorial resilience in Morocco. Environmental adaptation strategies focus on proactive water management through major hydraulic infrastructure development and usage optimization, integrated disaster risk prevention including risk mapping and early warning systems, and promotion of resilient agriculture based on agroecological principles. Economic diversification strategies emphasize developing high value-added sectors such as automotive and aeronautics, intensifying foreign direct investment attraction efforts, and strengthening institutional support for the domestic private sector.The analysis also highlights the critical role of governance and public policies through strategic planning, intersectoral coordination, and supportive macroeconomic policies that create an institutional environment conducive to resilience development. Additionally, social protection and human capital development, encompassing direct social assistance programs and investments in education and professional training, strengthen populations'intrinsic capacity to effectively face shocks while improving overall social and economic resilience of territories.The article presents a conceptual model synthesizing the complex interrelationships between exogenous shocks, deployed strategies, and facilitating factors. This model illustrates how territorial resilience represents not a definitively acquired static state, but rather an evolving and continuous process of collective learning, progressive adaptation, and structural transformation. The study emphasizes a multidimensional approach to resilience, underlining the importance of proactive public policies and intersectoral collaboration to strengthen Moroccan territories'capacity to absorb, recover, and transform in the face of disruptions. The findings converge with recent quantitative analyses demonstrating that governance quality and adaptive capacities constitute primary determinants of resilience, surpassing the importance of macroeconomic stability alone. |
| Abstract: | Dans un contexte de vulnérabilité accrue aux chocs économiques et environnementaux, cet article analyse la construction de la résilience territoriale au Maroc à travers les stratégies institutionnelles d'adaptation et de diversification. Face à la rareté des données empiriques régionales désagrégées, nous privilégions une approche qualitative documentaire combinant analyses lexicographique et thématique d'un corpus institutionnel (HCP, CESE, Plan Climat National, stratégies locales, publications internationales). Les résultats révèlent quatre axes stratégiques structurants : l'adaptation environnementale (gestion hydrique, prévention des risques, agriculture résiliente), la diversification économique (secteurs à haute valeur ajoutée, attraction d'IDE), la gouvernance territoriale (planification, coordination intersectorielle) et le développement socio-humain (protection sociale, capital humain). Un modèle conceptuel intégratif synthétise les interrelations entre chocs exogènes, stratégies déployées et facteurs facilitants. L'étude souligne l'importance d'une approche multidimensionnelle reconnaissant la résilience comme processus évolutif d'apprentissage collectif et de transformation structurelle, où gouvernance et capacités adaptatives surpassent la seule stabilité macroéconomique. |
| Keywords: | Territorial resilience, Morocco, economic shocks, environmental shocks, qualitative analysis, analyse qualitative, chocs environnementaux, chocs économiques, Maroc, Résilience territoriale |
| Date: | 2026–03–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05570840 |
| By: | Yassine Kirat (ULH - Université Le Havre Normandie - NU - Normandie Université, EDEHN - Equipe d'Economie Le Havre Normandie - ULH - Université Le Havre Normandie - NU - Normandie Université) |
| Abstract: | Countries with abundant natural resources often possess greater wealth, yet the impact of these resources on economic growth remains unclear. |
| Date: | 2024–06–17 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05623684 |
| By: | Naoyuki Yoshino (Keio University); Farhad Taghizadeh-Hesary (Tokai University Research Institute for Environment and Sustainability); Shigehiro Shinozaki (Asian Development Bank) |
| Abstract: | As in many Asian economies, Malaysia’s micro, small, and medium-sized enterprises (MSMEs) account for the vast majority of firms and large shares of economic output and employment. Their significant carbon footprint makes them pivotal for achieving carbon neutrality. In bank-dominated financial systems such as Malaysia’s, credit guarantees help facilitate lending to MSMEs. This paper proposes a way to both ease MSME access to finance and incentivize decarbonization and sustainability. It develops a risk-based and sustainability-adjusted credit guarantee pricing framework that integrates an MSME’s financial health, environmental footprint, and the macroeconomic conditions it faces. Using financial data from 2, 000 Malaysian MSMEs, principal component analysis is used to construct a financial health index, followed by K-means clustering to classify firms by risk. A countercyclical pricing model produces a firm‑level credit guarantee fee ranging from 1.08% for the healthiest firms during a recession to 2.58% for the riskiest firms during economic expansion. Firm-level sustainability survey data are used to build a composite performance score which reduces guarantee fees by an average of 0.13 percentage points, with a reduction up to 0.23 percentage points for top-performing firms. |
| Keywords: | optimal credit guarantee;sustainability;access to finance;SME finance;Malaysia |
| JEL: | D22 G20 L20 L50 |
| Date: | 2026–06–17 |
| URL: | https://d.repec.org/n?u=RePEc:ris:adbewp:022917 |
| By: | Rocio Carrillo-Labella (Universidad de Málaga [Málaga] = University of Málaga [Málaga]); Fatiha Fort (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Louis-Antoine Saïsset (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | The adoption of Environmental Management Systems (EMS), such as the ISO 14001 standard, is a key strategy for advancing towards sustainable production. This study addresses the causal ambiguity between ISO 14001 certification and financial performance (FP), a critical and unresolved gap in the literature, particularly in the agri-food SME sector. The central dilemma lies in discerning whether the improvement in FP is due to the effect of certification (treatment effect) or to prior financial strength (selection effect). A longitudinal analysis of 255 Spanish olive oil-producing SMEs (2021–2023) was employed, focusing on key objective accounting indicators such as ROE, ROA, ATR (Asset Turnover Ratio), EBIT, and EBITDA, using methodologies designed to isolate and contrast the causal effects. Our findings confirm the existence of a positive and significant association with FP. Specifically, a marked contrast in causality was identified: financial health (ROE) significantly influences the propensity for adoption (selection effect), acting as an entry barrier for companies with lower FP. On the other hand, certification leads to a significant improvement in profitability, manifesting in higher ROE, EBIT, and EBITDA (treatment effect), albeit without a significant impact on overall operational efficiency (ROA). These results demonstrate the existence of a circular causality operating under a "virtuous circle, " where the selection and treatment effects mutually reinforce each other. The findings validate ISO 14001 as a market differentiator that translates into higher benefits, positioning sustainable practices as a key driver of financial success in the agri-food industry. |
| Keywords: | Olive oil, Circular causality, Treatment effect, Selection effect, SMEs, Financial performance, ISO 14001 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05628184 |
| By: | David W. Johnston; Sundar Ponnusamy |
| Abstract: | How do households finance a costly, sudden shock? We study this question using natural disasters as a source of exogenous variation. Exploiting 15 waves of Australian longitudinal data and individual fixed-effects models, we estimate the effects of direct disaster exposure on household expenditure, income, assets, liabilities, and financial hardship, including coping margins that are typically unobserved in administrative data. Disaster exposure increases expenditure, driven by repair-related spending, while income and assets remain largely unchanged. The main adjustment occurs through significant increases in personal debt and informal financing. For many households, these responses are insufficient to avoid material deprivation, with increases in the likelihood of going without meals, missing utility payments, and being unable to heat the home. These effects are larger among households without insurance coverage and are concentrated in the year of the shock. |
| Keywords: | disaster, debt, hardship, household finance |
| JEL: | D14 G51 G52 Q54 |
| Date: | 2026–06–22 |
| URL: | https://d.repec.org/n?u=RePEc:mhe:chemon:paper_1782091543313_228 |
| By: | Emediegwu Lotanna; Rogna Marco (European Commission - JRC) |
| Abstract: | El Niño–Southern Oscillation (ENSO) is a global climatic event with important con- sequences for agricultural production. Several studies have investigated its impact on yields considering different crops and varying spatial scales. However, less attention has been paid to its effects on food prices. The present paper tries to fill this gap through a global analysis of the effect of ENSO shocks, divided into its main events, namely El Niño and La Niña, on the retail prices of several food commodities and crops. To achieve this, a large panel dataset of monthly retail market prices combined with climatic indexes envisaged to capture ENSO shocks has been analysed by adopting the local projection methodology. Impulse response functions spanning till one year after a shock are adopted to interpret the results. The impact of ENSO shocks on food prices varies considerably according to the event, the region under consideration, and the same food item. |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:eapoaf:202603-2 |
| By: | Paola Tubaro (CNRS - Centre National de la Recherche Scientifique, ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - IP Paris - Institut Polytechnique de Paris, CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article introduces the concept of the 'dual footprint' as a heuristic device to capture the commonalities and interdependencies between the different impacts of artificial intelligence (AI) on the natural and social surroundings that supply resources for its production and use. Two in-depth case studies, each illustrating international flows of raw materials and of data work services, portray the AI industry as a value chain that spans national boundaries and perpetuates inherited global inequalities. The countries that drive AI development generate a massive demand for inputs and trigger social costs that, through the value chain, largely fall on more peripheral actors. The arrangements in place distribute the costs and benefits of AI unequally, resulting in unsustainable practices and preventing the upward mobility of more disadvantaged countries. The dual footprint grasps how the environmental and social dimensions of the dual footprint emanate from similar underlying socioeconomic processes and geographical trajectories. |
| Keywords: | offshoring, value chains, data work, labour footprint, material footprint, Artificial intelligence |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05384319 |
| By: | Wissem Youssef (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School) |
| Abstract: | Les grandes entreprises européennes devront prochainement intégrer les risques environnementaux, sociaux et de gouvernance (ESG) à leurs rapports. Bien appliquée, cette contrainte est un levier puissant de changement. |
| Keywords: | Management, Entreprises, Responsabilité sociétale des entreprises (RSE), Gestion des risques critères environnementaux, sociaux et de gouvernance (ESG), Technologies de l'information et de la communication (TIC) |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05620808 |
| By: | Ebun Akinsete (ICRE8); Konstantinos Georgalos; Phoebe Koundouri (Dept. of International and European Economic Studies, Athens University of Economics and Business); Anastasia Litina; Lydia Papadaki; Nikitas Pittis (University of Piraeus, Greece); Panagiotis Samartzis |
| Abstract: | This paper provides an overview of the evolving role of fairness in economic thought and discusses how it is related to contemporary policy design. We first discuss the conceptual foundations of fairness in economics by discussing the notions of equity, justice, and efficiency and highlighting they're between differences. Acknowledging the tradeoff between fairness and allocative efficiency we discuss how the economics discipline has addressed this challenge and has provided tools that facilitate prioritizing and decision making. We then study how we can measure and capture fairness in a way that will allow us to quantify the concept and include it in our theoretical and empirical models as well as in experimental settings. Third, we highlight the policy implications associated with fairness literature. Last, the paper applies these theoretical insights to the governance of water resources-a sector where distributional conflicts, environmental constraints, and institutional complexity intersect. Relying on interdisciplinary research and policy examples, we uncover how fairness principles can shape water allocation, access, and pricing. The paper overall argues that accounting for fairness more explicitly into economic analysis can enrich both normative and practical policy frameworks, especially in resource-scarce contexts. |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2615 |
| By: | Yann Raineau (UR ETTIS - Environnement, territoires en transition, infrastructures, sociétés - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, BSE - Bordeaux sciences économiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Sécuriser le changement de pratiques : expérimentation d'une '"assurance verte" en France. |
| Date: | 2026–05–20 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05641963 |
| By: | David Moroz (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School) |
| Abstract: | Face au changement climatique qui nous impose de repenser notre alimentation et, par extension, notre production agricole, il s'avère de plus en plus nécessaire de revisiter la nature du lien pouvant exister entre la qualité d'un produit agricole et le sol dont il est issu. Ce lien se matérialise dans les contours d'un concept fort connu dans le secteur viticole : le terroir. |
| Keywords: | Vin, Agriculture, Changement climatique, Terroir, Appellation d'origine protégée (AOP), série « Terres de vins », Indication géographique protégée (IGP) |
| Date: | 2024–07–10 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05620888 |
| By: | Phoebe Koundouri (Dept. of International and European Economic Studies, Athens University of Economics and Business); Angelos Alamanos; Anna Triantafyllidou; Giannis Arampatzidis |
| Abstract: | Flood risk in Europe is intensifying, yet a persistent gap between policy frameworks like the EU Floods Directive and locally actionable protection measures continues to produce devastating outcomes, as recent catastrophic events have demonstrated. Stakeholder workshops are widely advocated as bridging mechanisms, but are typically designed ad hoc, disconnected from systematic evidence, and lacking institutional follow-up. This paper addresses this deficit through a structured narrative review of the European flood governance literature, identifying gaps along four dimensions: knowledge, institutional, participation, and implementation. These gaps are translated into four evidence-informed design principles, which are then operationalized into a modular, phased workshop framework integrating collaborative governance, boundary object theory, adaptive governance, knowledge co-production, behavioural economics, and the Systems Innovation Approach. The framework's fixed logical structure (gaps, principles, phases, institutional outputs) ensures theoretical traceability, while its adaptable content enables application across diverse European governance contexts, hazard types, and institutional settings. Empirical validation through pilot implementation is identified as the priority next step. |
| Keywords: | Flood risk governance, Stakeholder workshops, EU Floods Directive, Policy implementation gap, Participatory governance, Adaptive management, Knowledge co-production |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2617 |
| By: | Simeon Human (RAU - Royal Agricultural University, University of Gloucestershire [Gloucester]) |
| Abstract: | Purpose: value chain transparency and circularity are tested as concepts that could enable Ivorian cocoa farmers to maintain a living income, defined as the amount needed for a household to afford a decent standard of living. The Fair Score Framework is a proposed conceptual framework designed to measure value chain fairness. Its development responds to calls in the literature for improved implementation of the circular economy. Methodology: this study uses a qualitative approach, combining a narrative review with a conceptual framework development design. The primary dataset includes a farmer questionnaire (n=215), consumer questionnaire (n=212), and semi-structured interviews (n=12). The research is guided by consumption theory, drawing on Keynes, Friedman, and Modigliani. Findings: farmers suggest that adopting circular practices yields minimal income gains unless value chain inequalities are structurally addressed. Consumers from six countries increased the share paid to farmers by 7.41% after watching an informational video. A Cronbach's Alpha of 0.79 confirms acceptable reliability. Interviewees noted that while circularity may reduce waste, it cannot ensure poverty alleviation in its current form. This presents an opportunity to develop entrepreneurial circular business models that address income distribution. Originality: entrepreneurial circular business models could be leveraged by incorporating the Fair Score Framework, using the United Nations Sustainable Development Goals, Nutri-Score label and Organisation for Economic Co-operation and Development Circularity Scoreboard as reference points. Keywords: Circular economy; Cocoa; Living income; Transparency; Consumer; Entrepreneurial Circular Business Model; Value Chain. |
| Abstract: | Objectif : La transparence et la circularité de la chaîne de valeur sont testées comme des concepts susceptibles de permettre aux producteurs de cacao ivoiriens de maintenir un revenu vital, défini comme le montant dont un ménage a besoin pour accéder à un niveau de vie décent. Le Fair Score Framework est un cadre conceptuel proposé, conçu pour mesurer l'équité au sein de la chaîne de valeur. Son élaboration répond aux appels de la littérature en faveur d'une meilleure mise en œuvre de l'économie circulaire. Méthodologie : Cette étude adopte une approche qualitative, combinant une revue narrative de la littérature et un dispositif de développement de cadre conceptuel. Le corpus empirique principal comprend un questionnaire auprès des producteurs (n = 215), un questionnaire auprès des consommateurs (n = 212) et des entretiens semi‑directifs (n = 12). La recherche est guidée par la théorie de la consommation, en s'appuyant sur les travaux de Keynes, Friedman et Modigliani. Résultats : Les producteurs indiquent que l'adoption de pratiques circulaires ne génère que des gains de revenu limités tant que les inégalités au sein de la chaîne de valeur ne sont pas traitées de manière structurelle. Les consommateurs de six pays ont augmenté la part versée aux producteurs de 7, 41 % après le visionnage d'une vidéo d'information. Un alpha de Cronbach de 0, 79 confirme une fiabilité jugée acceptable. Les personnes interrogées soulignent que, si la circularité peut réduire le gaspillage, elle ne permet pas, en l'état, de garantir la réduction de la pauvreté. Cela ouvre une opportunité de développer des modèles d'affaires circulaires entrepreneuriaux qui prennent explicitement en compte la répartition des revenus. Originalité : Les modèles d'affaires circulaires entrepreneuriaux pourraient être mobilisés en intégrant le Fair Score Framework, en s'appuyant sur les Objectifs de développement durable des Nations unies, le Nutri‑Score et le tableau de bord de la circularité de l'OCDE comme points de référence. Mots-clés : Économie circulaire ; Cacao ; Revenu vital ; Transparence ; Consommateur ; Modèle d'affaires circulaire entrepreneurial ; Chaîne de valeur. |
| Keywords: | Entrepreneurial Circular Business Model, Circular economy, Cocoa, Living income, Transparency, Value chain, Consumer, Consommateur, Modèle d’affaires circulaire entrepreneurial, Chaîne de valeur, Transparence, Revenu vital, Cacao, Économie circulaire |
| Date: | 2026–03–20 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05577901 |
| By: | Park, Eunseong; Rausch, Sebastian; Karplus, Valerie J. |
| Abstract: | CO2-Grenzausgleichsmaßnahmen (Border Carbon Adjustments, BCAs) werden zu einem zentralen Instrument der klimaorientierten Handelspolitik, um Carbon Leakage zu begrenzen und zugleich die heimische Industrie zu schützen. Ihre Wirkung hängt jedoch grundlegend vom Design ab. Dieser policy brief vergleicht mengenbasierte BCAs wie den CO2-Grenzausgleichsmechanismus der EU (EU-CBAM), die die gesamten im Produkt enthaltenen Emissionen bepreisen, mit benchmarkbasierten Vorschlägen, die nur Emissionen oberhalb eines Intensitätsbenchmarks bepreisen. Auf Basis neuer Forschung zur globalen Stahlindustrie zeigen wir, dass ein benchmarkbasiertes BCA eine Emissionsabgabe mit einer impliziten Outputsubvention verbindet. Das schwächt das CO2-Preissignal, fördert die Umlenkung saubererer Produktion in regulierte Märkte und kann über unterbepreiste Vorprodukte wie Roheisen vertikale Emissionsverlagerung auslösen. In einem EU-ähnlichen Umfeld mit inländischer CO2-Bepreisung übermittelt das benchmarkbasierte Design nur 36 Prozent des mengenbasierten Grenzpreises, der dieselbe globale Emissionsminderung erzielen würde. In einem US-ähnlichen Umfeld ohne inländischen Preisanker wirkt es weniger als Klimainstrument denn als Industrietarif, der Knappheitsrenten zugunsten inländischer nachgelagerter Industrien verschiebt. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewpbs:341661 |
| By: | Saakstra, Sake |
| Abstract: | Clean-technology investment under policy-regime transition exhibits a structure that the canonical real-options framework characterises only partially. We develop a dynamic-investment model in which an irreversible project decision is taken sequentially across four lifecycle stages (front-end design, final investment decision, construction, operations) under two sources of stochastic variation: the payoff-determining state variable (e.g. carbon price, technology cost) and the policy-regime credibility belief that determines whether the policy environment will persist over the investment horizon. The optimal cancellation policy is characterised by stage-dependent thresholds that respond to five comparative-statics channels: the expected-return channel, the uncertainty channel, the timing/option-value channel, the coordination channel, and the implementation-cost channel. The policy-credibility extension delivers a formal proposition that the optimal threshold is monotonically decreasing in policy-credibility belief whenever the policy-conditional payoff exceeds the regime-reversal baseline. The framework's primary contribution is methodological discipline: each of the five channels is matched to a pre-registered falsifiability criterion that specifies, in advance of empirical testing, both the observable implication and the numerical threshold at which the channel hypothesis would be rejected. This disciplinary structure addresses a long-standing concern in mechanism-based empirical research that mechanisms can be formulated ex-post to rationalise observed patterns. Eighteen mechanism predictions are catalogued, of which fourteen would be classified as confirmed, two as partial, and two as falsified against existing empirical evidence from related clean-hydrogen investment research. The two falsifications - the EU Innovation Fund capex-grant null and the EU Carbon Border Adjustment Mechanism transitional-phase null - are themselves substantive contributions to the literature on policy-design effectiveness, identifying which frictions are binding in the contemporary capital-abundant clean-technology environment. The framework is sector-agnostic and applies to any clean-technology investment context with sufficient sample size, regime-transition observation, and project-level data on cancellation events. The implications for the design of clean-technology policy portfolios are explicit: multi-friction-addressing instruments dominate single-friction high-magnitude instruments; credibility-anchoring instruments substitute for direct payoff transfers; and capex-grant instruments without offtake-commitment requirements are predicted to fail under the prevailing contemporary environment. |
| Keywords: | real options, irreversible investment, policy uncertainty, transition risk, mechanism design, clean technology, pre-registered falsifiability, comparative statics |
| JEL: | D81 D89 G31 Q42 Q48 Q49 |
| Date: | 2028–05–28 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129310 |
| By: | Helft, Christoph; Hülz, Martina; Kirschner, Franziska; Matthes, Gesa; Molter, Uli; Pantoulier, Benjamin; Scheiner, Joachim; Widemann, Marc |
| Abstract: | Öfentliche Parkfächen für Kraftfahrzeuge beanspruchen einen erheblichen Anteil des knappen öfentlichen Raums, obwohl viele Menschen in Städten kein eigenes Auto besitzen. Das Vorhalten von Parkfächen für private Kfz gehört nicht zur allgemeinen Daseinsvorsorge, sondern ist eine politisch gestaltbare Nutzung öfentlicher Flächen. Die Kommunen verfügen bereits heute über wirksame Instrumente, Parken sozial gerecht, efzient und im Einklang mit Klima-, Mobilitäts- und Aufenthaltszielen zu steuern. So können Flächen gerechter verteilt, die Verkehrssicherheit erhöht und lebenswerte öfentliche Räume für alle geschafen werden. |
| Abstract: | Public parking spaces for motor vehicles occupies a substantial share of scarce public space, although many urban residents do not own a car. Providing parking for private vehicles does not fall under essential public services, but represents a politically regulated use of public space. Municipalities already have efective tools to manage parking in a socially equitable and efcient way, in line with climate, mobility and urban livability goals. This allows redistribute space more fairly, improve road safety and create more livable public spaces for everyone. |
| Keywords: | Parkraummanagement, öfentliche Räume, Bewohnerparken, Verkehrsgerechtigkeit, kommunale Steuerung, lebenswerte Städte, Mobilitätswende, Parking management, Public space, Residential parking, Transport justice, Municipal governance, Livable cities, Mobility transition |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:arlpos:341629 |
| By: | Daud, Ataullah; Jadoon, Atif Khan; Ali, Amjad; Audi, Marc |
| Abstract: | Green finance frameworks such as taxonomies, mandatory disclosure requirements, external verification mechanisms, and supervisory monitoring systems continue to expand, concerns regarding regulatory effectiveness, enforcement quality, and compliance-related constraints have got significant attention among policymakers. This study examines the relationship among regulatory design frameworks, enforcement capacity, and compliance-coordination frictions in shaping post-issuance green finance disclosure outcomes in developing economies. The study adopts a mixed-method research design comprising two empirical stages. The first stage utilizes a perception-based survey of green finance market participants to evaluate the influence of regulatory structures and institutional coordination mechanisms on disclosure practices. The second stage employs a cross-jurisdictional panel dataset to examine both the direct and moderating effects of governance quality as a proxy for enforcement capacity. The empirical analysis was conducted using regression-based estimation techniques to assess the relationships among the study variables. The findings indicate that well-structured regulatory design frameworks significantly improve post-issuance green finance disclosure outcomes, while stronger governance quality and institutional enforcement capacity further enhance regulatory effectiveness. However, the interaction between regulatory design and governance quality explains that stronger institutional environments may partially substitute for extensive regulatory complexity rather than merely reinforcing it. In addition, compliance and coordination frictions negatively affect disclosure quality and implementation efficiency across green finance systems. The results emphasize the importance of balanced regulatory structures, institutional effectiveness, and coordinated implementation mechanisms in strengthening green finance disclosure practices within developing economies. |
| Keywords: | Green Finance, Regulatory Design, Enforcement Capacity, Post-Issuance Disclosure, Quality of Governance |
| JEL: | G28 H11 Q56 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:129351 |
| By: | Olivetti, Leonardo; Messori, Gabriele; Avner, Paolo; Hallegatte, Stephane |
| Abstract: | Assessing the real-world economic value of weather forecasts remains challenging, particularly in the context of high-impact extreme events. Although meteorological skill has improved substantially in recent years—driven by steady advances in physics-based models and impressive breakthroughs in artificial intelligence-based forecasting—operational evaluations still focus primarily on standard skill metrics, with limited consideration of how improvements in meteorological skill translate into economic value. This study proposes a flexible framework to assess the economic value of weather forecasts, with penalty functions that explicitly account for compounding losses as well as declining user trust in cases of repeated false alarms. In addition, the framework allows for varying cost—loss ratios to represent heterogeneous prevention costs and vulnerability structures. The framework is applied to cities exposed to weather-related natural hazards, comparing the relative economic value of leading physics-based and data-driven forecasting systems from the European Centre for Medium-Range Weather Forecasts. The value of forecasts is highly sensitive to assumptions about compounding losses, penalty structures, and prevention costs, which often substantially alter conclusions drawn from meteorological skill alone. For instance, in some cities in Southern Europe, the higher sensitivity of the physics-based Integrated Forecast System high-resolution model (IFS HRES) makes it better suited when protection costs are small relative to potential losses, while the higher specificity of the data-driven Artificial Intelligence Forecasting System (AIFS) makes it better when protection costs are higher. These findings underscore the importance of evaluating economic value under realistic risk scenarios to ensure that improvements in predictive accuracy translate into meaningful societal and economic benefits. |
| Date: | 2026–06–02 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11407 |
| By: | Charlène Le Blanc-Gouverneur (IEPG - Sciences Po Grenoble-UGA - Institut d'études politiques de Grenoble - UGA - Université Grenoble Alpes, CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes); Anne Bartel-Radic (CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes, IEPG - Sciences Po Grenoble-UGA - Institut d'études politiques de Grenoble - UGA - Université Grenoble Alpes); Nicolas Gratiot (IGE - Institut des Géosciences de l’Environnement - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Fédération OSUG - Observatoire des Sciences de l'Univers de Grenoble - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes) |
| Abstract: | Les jeux sérieux rencontrent un intérêt croissant pour leur potentiel d'apprentissage et de transformation des comportements. En management interculturel coexistent des jeux qui demandent aux participants d'incarner un personnage précis qu'ils choisissent ou qu'on leur attribue, avec d'autres dans lesquels les joueurs jouent leur propre personne. Or, les modalités de jeu qui favorisent les impacts positifs sur les objectifs fixés restent insuffisamment connues. Dans quelle mesure l'identification des participants aux personnages influence-t-elle la dynamique (ou le déroulement) et l'atteinte des objectifs d'un jeu sérieux ? Cette recherche analyse des données recueillies auprès de 160 participants à une session massive du jeu Ma Terre qui vise la réduction des Gaz à Effets de Serre (GES) dans le milieu universitaire. Les résultats montrent que la proximité perçue avec le personnage incarné est faiblement corrélée à la durée d'incarnation du personnage assigné sur la durée du jeu. Le temps d'incarnation des personnages n'est d'ailleurs pas lié à la performance. En revanche, plus les joueurs d'une table se sentent collectivement proches des personnages qui leur ont été assignés, plus le collectif est performant. |
| Keywords: | impact, jeux sérieux, enjeu climatique, collaboration, apprentissage |
| Date: | 2026–05–18 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05648316 |
| By: | Angeles, Luis; Elizalde, Aldo |
| Abstract: | This paper studies the determinants of intensive kinship norms in human societies throughout the world. We expand the existing literature by considering three separate determinants of kinship intensity: the natural environment, religion, and state rule. Our novel methodology takes advantage of recent datasets, linking the location of human societies from the Ethnographic Atlas to geospatial data on the territorial span of states throughout human history. For religion, we find that Islam has an effect of similar magnitude but opposite direction to Christianity. For state rule, we find that only states with high levels of institutional development lead to less intensive kinship norms. |
| Keywords: | kinship norms, natural environment, religion, Islam, Christianity, state rule, institutional development |
| JEL: | Z13 Z12 N40 O17 D02 Q56 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:qucehw:341402 |
| By: | Charles Figuières (Aix Marseille Univ, CNRS, AMSE, Marseille, France) |
| Abstract: | Standard models of international trade treat factor endowments as exogenous and stable. This paper argues that biological invasions induced by trade itself erode productive endowments, generating a feedback loop from comparative advantage to invasive species pressure and back. We call this mechanism the biological endowment curse : the very endowment that confers comparative advantage in agriculture raises the exposure to invasion, which in turn degrades the endowment. This dynamic cost of trade has been largely absent from the received theory of comparative advantage. We formalise this idea in two steps. First, in a single-country model with Cobb-Douglas endowment dynamics, we establish the existence and global stability of a long-run equilibrium and show that the equilibrium healthy endowment decreases with import pressure and with ecological fragility. Second, in a two-country discrete-time game, we derive closed-form expressions for the Markov Perfect Nash equilibrium and the cooperative solution. Both countries under-invest in biosecurity at Nash, and the under-investment gap is larger for countries with stronger regeneration capacity and greater commercial interdependence. We then characterise the optimal international agreement, modelled as a Nash equilibrium in trigger strategies. A key structural result is that the incentive compatibility constraint reduces to a purely parametric condition, independent of the current state of endowments. When the pure trigger fails, trade linkage can restore viability. Finally, policy implications are discussed. |
| Keywords: | Sanitary and Phytosanitary SPS agreements; Biosecurity; Levhari-Mirman; Differential game; Biological endowment curse; Comparative advantage; Factor endowments; Invasive species |
| JEL: | C73 F11 Q17 Q57 |
| Date: | 2026–06–12 |
| URL: | https://d.repec.org/n?u=RePEc:aim:wpaimx:2616 |
| By: | Andres Azqueta-Gavaldon; Ben Jabeur Sami; Leila Hedhili |
| Abstract: | This study constructs novel biodiversity related media risk indicators for France, Germany, Italy, and Spain over 2015-2025, capturing media attention to biodiversity threats using the GDELT Global Knowledge Graph. Using panel Granger causality tests and an augmented inverse probability weighting (AIPW) event-study design, we find highly significant evidence that biodiversity risk reduces stock prices, with effects peaking between 3 and 10 months after a shock. Moreover, we uncover a marked asymmetry whereby the positive effects of low biodiversity risk episodes outweigh the negative effects of high-risk episodes. Results are robust across quantiles of the return distribution and hold when controlling for European equity market volatility and economic policy uncertainty. Our findings provide the first evidence that biodiversity media narratives drive stock market valuations in Europe. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.19972 |
| By: | Sebastien Bourdin (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School); Roland Condor (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School) |
| Abstract: | La loi AGEC (anti-gaspillage pour une économie circulaire) impose depuis le 1er janvier 2024 à tous les professionnels de trier les biodéchets, et en particulier aux collectivités locales de fournir des solutions de collecte des biodéchets aux particuliers. |
| Keywords: | Agriculteurs, Méthanisation, Biogaz, Biodéchets, Biomasse, Valorisation des déchets, « Ici la Terre », Pas dans mon arrière-cour (NIMBY) |
| Date: | 2025–01–25 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05620042 |