Showing posts with label Energy & Climate Change.   Show all posts

Impact of Temperature Uncertainty on Firm Growth

From a paper by Jangho Yang and Christian Schoder:

“This study examines the impact of temperature uncertainty on firm fixed capital growth using a unique dataset that merges extensive firm-level financial data with detailed gridlevel weather data. The analysis reveals a strong negative relationship between temperature uncertainty and fixed capital growth. Furthermore, the impact varies significantly across industries with differing levels of investment irreversibility and among countries with varying income levels. Firms in industries characterized by high investment irreversibility and those operating in higher-income countries experience more pronounced declines in fixed asset growth due to temperature uncertainty.”

From a paper by Jangho Yang and Christian Schoder:

“This study examines the impact of temperature uncertainty on firm fixed capital growth using a unique dataset that merges extensive firm-level financial data with detailed gridlevel weather data. The analysis reveals a strong negative relationship between temperature uncertainty and fixed capital growth. Furthermore, the impact varies significantly across industries with differing levels of investment irreversibility and among countries with varying income levels.

Read the full article…

Posted by at 12:58 PM

Labels: Energy & Climate Change

Can monetary and fiscal policy reduce CO2 emissions? Analysis of regional country groups

From a paper by Peterson K. Ozili:

“Contractionary monetary and fiscal policy jointly reduce CO2 emissions in the regions of the Americas and Africa. Contractionary monetary and fiscal policy combined with higher renewable energy consumption jointly reduce CO2 emissions in the regions of the Americas, Asia and Europe. Also, contractionary monetary and fiscal policy combined with higher institutional quality jointly reduce CO2 emissions in African countries. Higher renewable energy consumption reduces CO2 emissions in Africa, Asia, Europe and Americas regions while strong institutional quality consistently reduce CO2 emissions in Europe and the Americas.”

From a paper by Peterson K. Ozili:

“Contractionary monetary and fiscal policy jointly reduce CO2 emissions in the regions of the Americas and Africa. Contractionary monetary and fiscal policy combined with higher renewable energy consumption jointly reduce CO2 emissions in the regions of the Americas, Asia and Europe. Also, contractionary monetary and fiscal policy combined with higher institutional quality jointly reduce CO2 emissions in African countries. Higher renewable energy consumption reduces CO2 emissions in Africa,

Read the full article…

Posted by at 12:56 PM

Labels: Energy & Climate Change

Modeling the Oil Price Influences Upon the Energy Sector in the Macroeconomic Context. Empirical Evidence from Central and Eastern European Countries

From a paper by Florin Cornel Dumiter, Ștefania Amalia Nicoară, Samuel Nicoară, Cristian Bențe and Luminița Păiușan:

“The oil price influences and tendencies have gained, lately major developments both at the European level and on the international level. Moreover, several interconnections between the energy sector and oil price influences have become the panacea of several important research and studies. In this article, we provide a qualitative and quantitative approach to the interconnections manifested between oil price movements and the developments of the energy sector. The study is focused on Central and Eastern European Countries which have similarities and differences both at the energy sector level and economy level. The econometric techniques used in this study reveal the importance of the causality relationship between oil price movements and the energy sector taking into account the macroeconomic context. The conclusions of this study highlight some important fine-tuning aspects that must be recalibrated in Central and Eastern European Countries to increase the economic outcomes, strengthen the energy sector, and respond properly to the oil price movement trends.”

From a paper by Florin Cornel Dumiter, Ștefania Amalia Nicoară, Samuel Nicoară, Cristian Bențe and Luminița Păiușan:

“The oil price influences and tendencies have gained, lately major developments both at the European level and on the international level. Moreover, several interconnections between the energy sector and oil price influences have become the panacea of several important research and studies. In this article, we provide a qualitative and quantitative approach to the interconnections manifested between oil price movements and the developments of the energy sector.

Read the full article…

Posted by at 12:48 PM

Labels: Energy & Climate Change

Firms’ Resilience to Energy Shocks and Response to Fiscal Incentives: Assessing the Impact of 2022 Energy Crisis

From a paper by David Amaglobeli, Joaquim Guilhoto, Samir Jahan, Salma Khalid, Raphael Lam, Gregory Legoff, Brent Meyer, Xuguang Simon Sheng, Pawel Smietanka, Sonya Waddell, and Daniel Weitz:

“The energy price shock in 2022 led to government support for firms in some countries, sparking debate about the rationale and the nature of such support. The results from nationally representative firm surveys in the United States and Germany indicate that firms in these countries were generally resilient. Coping strategies adopted by firms included the pass-through of higher costs to consumers, adjustment of profit margins (United States) and investments in energy saving and efficiency (Germany). Firms in energy-intensive industries would have been significantly more affected if international energy prices were fully passed through to domestic prices in Europe. Survey responses further reveal that most firms are uncertain about the impact of recent policy announcements on green subsidies. Firms take advantage of fiscal incentives to accelerate their climate-related investment plans are often those that have previous plans to do so. These findings suggest better targeting and enhancing policy certainty will be important when facilitate the green transition among firms.”

From a paper by David Amaglobeli, Joaquim Guilhoto, Samir Jahan, Salma Khalid, Raphael Lam, Gregory Legoff, Brent Meyer, Xuguang Simon Sheng, Pawel Smietanka, Sonya Waddell, and Daniel Weitz:

“The energy price shock in 2022 led to government support for firms in some countries, sparking debate about the rationale and the nature of such support. The results from nationally representative firm surveys in the United States and Germany indicate that firms in these countries were generally resilient.

Read the full article…

Posted by at 12:45 PM

Labels: Energy & Climate Change

Commodity prices and monetary policy: old and new challenges

From a paper by Fernando Avalos, Ryan Niladri Banerje, Matthias Burgert, Boris Hofmann, Cristina Manea, and Matthias Rottner:

“Major price increases in energy and food were key drivers of the 2021–22 inflation surge. These large supply-driven commodity price increases, occurring when inflation was already elevated in many countries, increased the risk of moving to a high-inflation regime. Central banks have tended to look through commodity price fluctuations due to their often transitory nature and the implied trade-off between inflation and output stabilisation in the case of supply-driven price shocks. Growing geopolitical disruptions, climate change and a bumpy transition to green energy threaten to make commodity price shifts larger and more frequent going forward. This potentially raises greater risks for price stability, thereby limiting the scope for monetary policy to look through them.”

From a paper by Fernando Avalos, Ryan Niladri Banerje, Matthias Burgert, Boris Hofmann, Cristina Manea, and Matthias Rottner:

“Major price increases in energy and food were key drivers of the 2021–22 inflation surge. These large supply-driven commodity price increases, occurring when inflation was already elevated in many countries, increased the risk of moving to a high-inflation regime. Central banks have tended to look through commodity price fluctuations due to their often transitory nature and the implied trade-off between inflation and output stabilisation in the case of supply-driven price shocks.

Read the full article…

Posted by at 12:42 PM

Labels: Energy & Climate Change

Newer Posts Home Older Posts

Subscribe to: Posts