Climate Change Mitigation And Policy Spillovers In The Eu S Immediate Neighborhood

Author : Mr. Serhan Cevik,Mr. Nadeem Ilahi,Mr. Krzysztof Krogulski,Ms. Grace B Li,Sabiha Mohona,Yueshu Zhao
Publisher : International Monetary Fund
Page : 39 pages
File Size : 45,6 Mb
Release : 2023-12
Category : Business & Economics
ISBN : 9798400259401

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Climate Change Mitigation and Policy Spillovers in the EU’s Immediate Neighborhood by Mr. Serhan Cevik,Mr. Nadeem Ilahi,Mr. Krzysztof Krogulski,Ms. Grace B Li,Sabiha Mohona,Yueshu Zhao Pdf

EU’s neighborhood countries (EUN) have lagged the EU on emissions mitigation; coal-heavy power generation and industrial sectors are a key factor. They have also trailed EU countries in emissions mitigation policies since 2000, with little use of market-based instruments, and they still have substantial fossil fuel subsidies. Increasingly stringent EU mitigation policies are asociated with lower emissions in EUN. Overall output effects of the CBAM, in its current form, would be limited, though exports and emissions-intensive industries could be heavily impacted. A unilaterally adopted economywide carbon tax of $75 per ton would significantly lower emissions by 2030, with minimal consequences for output or household welfare, though a safety net for the affected workers may be necessary. To become competitive today by attracting green FDI and technology, overcoming infrastructure constraints and integrating into EU’s supply chains, EUN countries would be well served to front load decarbonization, rather than postpone it for later.

Author : Signe Krogstrup,William Oman
Publisher : International Monetary Fund
Page : 58 pages
File Size : 54,7 Mb
Release : 2019-09-04
Category : Business & Economics
ISBN : 9781513511955

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Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature by Signe Krogstrup,William Oman Pdf

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 135 pages
File Size : 49,9 Mb
Release : 2023-07-05
Category : Business & Economics
ISBN : 9798400248177

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Republic of Serbia by International Monetary Fund. European Dept. Pdf

Serbia has made impressive economic gains over much of the past decade: living standards improved, inflation fell, public finances were strengthened, and reserves increased, helped by ample foreign direct investment (FDI) inflows. But spillovers from the war in Ukraine—especially the sharp increase in international energy prices—and deep-rooted problems in Serbia’s energy sector that came to a head last year, led to large external and fiscal financing needs, prompting the authorities to request a Fund-supported Stand-By Arrangement (SBA). Fiscal and external outturns for 2022 were both better than expected, and unemployment remains low. Record FDI inflows continue to drive reserves higher. But inflation remains a pressing challenge. Led by high food and energy prices, headline inflation is now well above the National Bank of Serbia’s (NBS’s) target band and core inflation has also increased sharply. Fiscal policy is expected to remain relatively tight in 2023, despite additional mid-year spending measures. Deep structural problems persist in the energy sector and are a key focus of the SBA. Long-standing geopolitical challenges remain.

Author : Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados
Publisher : International Monetary Fund
Page : 548 pages
File Size : 40,7 Mb
Release : 2017-04-07
Category : Business & Economics
ISBN : 9781475547900

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Fiscal Politics by Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados Pdf

Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.

Author : Luc Eyraud,Mr.Xavier Debrun,Andrew Hodge,Victor Duarte Lledo,Ms.Catherine A Pattillo
Publisher : International Monetary Fund
Page : 132 pages
File Size : 48,6 Mb
Release : 2018-04-13
Category : Business & Economics
ISBN : 9781484350935

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Second-Generation Fiscal Rules by Luc Eyraud,Mr.Xavier Debrun,Andrew Hodge,Victor Duarte Lledo,Ms.Catherine A Pattillo Pdf

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog

Author : Anil Ari,David Bartolini,Vizhdan Boranova,Gabriel Di Bella,Kamil Dybczak,Keiko Honjo,Raju Huidrom,Andreas Jobst,Nemanja Jovanovic,Ezgi O. Ozturk,Laura Papi,Sergio Sola,Michelle Stone,Petia Topalova
Publisher : Unknown
Page : 123 pages
File Size : 50,8 Mb
Release : 2020-09-28
Category : Electronic
ISBN : 1513550551

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Infrastructure in Central, Eastern, and Southeastern Europe by Anil Ari,David Bartolini,Vizhdan Boranova,Gabriel Di Bella,Kamil Dybczak,Keiko Honjo,Raju Huidrom,Andreas Jobst,Nemanja Jovanovic,Ezgi O. Ozturk,Laura Papi,Sergio Sola,Michelle Stone,Petia Topalova Pdf

CESEE countries lag in terms of infrastructure compared to the EU15, and deficient infrastructure is often cited as a constraint to growth and convergence. Investing in infrastructure is therefore an important long-standing policy issue for the region. In the context of the Covid-19 pandemic, infrastructure investment has also gained some ground as economies look to support activity in the recovery phase once the virus has been contained. Against this backdrop, this project seeks to benchmark infrastructure in CESEE, assess the macro impact of higher infrastructure investment, and discuss policies issues to maximize such impact. First, we benchmark infrastructure in the region versus the EU15, across various infrastructure sectors and using different methodologies. Second, deploying empirical estimates and model-based simulations, we analyze the macroeconomic impact of boosting infrastructure investment. Third, we present an in-depth analysis of policy issues: enhancing public investment management, managing fiscal risks, and mobilizing private sector participation.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 262 pages
File Size : 45,9 Mb
Release : 2021-12-01
Category : Business & Economics
ISBN : 9789292691165

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Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies by Asian Development Bank Pdf

High and persistent levels of nonperforming loans (NPLs) have featured prominently in recent financial crises. This book traces NPL trends during and after crises, examines the economic impact of high NPLs, and compares the effectiveness of NPL resolution strategies across economies in Asia and Europe. The book distills important lessons from the experiences of economies using case studies and empirical investigation of ways to resolve NPLs. These findings can be invaluable in charting a course through the financial and economic fallout of the coronavirus disease (COVID-19) pandemic to recovery and sustained financial stability in Asia, Europe, and beyond.

Author : Zohair Alam,Mr.Adrian Alter,Jesse Eiseman,Mr.R. G Gelos,Mr.Heedon Kang,Mr.Machiko Narita,Erlend Nier,Naixi Wang
Publisher : International Monetary Fund
Page : 57 pages
File Size : 43,8 Mb
Release : 2019-03-22
Category : Business & Economics
ISBN : 9781498302708

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Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database by Zohair Alam,Mr.Adrian Alter,Jesse Eiseman,Mr.R. G Gelos,Mr.Heedon Kang,Mr.Machiko Narita,Erlend Nier,Naixi Wang Pdf

This paper introduces a new comprehensive database of macroprudential policies, which combines information from various sources and covers 134 countries from January 1990 to December 2016. Using these data, we first confirm that loan-targeted instruments have a significant impact on household credit, and a milder, dampening effect on consumption. Next, we exploit novel numerical information on loan-to-value (LTV) limits using a propensity-score-based method to address endogeneity concerns. The results point to economically significant and nonlinear effects, with a declining impact for larger tightening measures. Moreover, the initial LTV level appears to matter; when LTV limits are already tight, the effects of additional tightening on credit is dampened while those on consumption are strengthened.

Author : Leonardo Martinez-Diaz,Jesse M. Keenan
Publisher : U.S. Commodity Futures Trading Commission
Page : 196 pages
File Size : 52,6 Mb
Release : 2020-09-09
Category : Science
ISBN : 9780578748412

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Managing Climate Risk in the U.S. Financial System by Leonardo Martinez-Diaz,Jesse M. Keenan Pdf

This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742

Author : Manfred M. Fischer,Peter Nijkamp
Publisher : Springer
Page : 0 pages
File Size : 51,5 Mb
Release : 2013-09-17
Category : Business & Economics
ISBN : 3642234291

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Handbook of Regional Science by Manfred M. Fischer,Peter Nijkamp Pdf

The Handbook of Regional Science is a multi-volume reference work providing a state-of-the-art knowledge on regional science composed by renowned scientists in the field. The Handbook is intended to serve the academic needs of graduate students, and junior and senior scientists in regional science and related fields, with an interest in studying local and regional socio-economic issues. The multi-volume handbook seeks to cover the field of regional science comprehensively, including areas such as regional housing and labor markets, regional economic growth, innovation and regional economic development, new and evolutionary economic geography, location and interaction, the environment and natural resources, spatial analysis and geo-computation as well as spatial statistics and econometrics.

Author : OECD
Publisher : OECD Publishing
Page : 100 pages
File Size : 43,6 Mb
Release : 2012-01-26
Category : Electronic
ISBN : 9789264126794

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OECD Economic Surveys: Denmark 2012 by OECD Pdf

OECD 2012 Economic Survey of Denmark examines recent economic developments, policies and prospects and looks in particular at consolidating public finances and improving energy and climate change policies.

Author : Andrew Jordan,Dave Huitema,Harro van Asselt,Tim Rayner,Frans Berkhout
Publisher : Cambridge University Press
Page : 128 pages
File Size : 50,6 Mb
Release : 2010-04-29
Category : Political Science
ISBN : 9781139486026

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Climate Change Policy in the European Union by Andrew Jordan,Dave Huitema,Harro van Asselt,Tim Rayner,Frans Berkhout Pdf

The European Union (EU) has emerged as a leading governing body in the international struggle to govern climate change. The transformation that has occurred in its policies and institutions has profoundly affected climate change politics at the international level and within its 27 Member States. But how has this been achieved when the EU comprises so many levels of governance, when political leadership in Europe is so dispersed and the policy choices are especially difficult? Drawing on a variety of detailed case studies spanning the interlinked challenges of mitigation and adaptation, this volume offers an unrivalled account of how different actors wrestled with the complex governance dilemmas associated with climate policy making. Opening up the EU's inner workings to non-specialists, it provides a perspective on the way that the EU governs, as well as exploring its ability to maintain a leading position in international climate change politics.

Author : OECD
Publisher : OECD Publishing
Page : 523 pages
File Size : 52,9 Mb
Release : 2008-03-05
Category : Electronic
ISBN : 9789264040519

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OECD Environmental Outlook to 2030 by OECD Pdf

The OECD Environmental Outlook to 2030 provides analyses of economic and environmental trends to 2030, and simulations of policy actions to address the key challenges.

Author : World Bank
Publisher : World Bank Publications
Page : 424 pages
File Size : 53,9 Mb
Release : 2009-11-06
Category : Political Science
ISBN : 0821379887

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World Development Report 2010 by World Bank Pdf

In the crowded field of climate change reports, 'WDR 2010' uniquely: emphasizes development; takes an integrated look at adaptation and mitigation; highlights opportunities in the changing competitive landscape; and proposes policy solutions grounded in analytic work and in the context of the political economy of reform.

Author : Groupe d'experts intergouvernemental sur l'évolution du climat
Publisher : Unknown
Page : 151 pages
File Size : 40,9 Mb
Release : 2015
Category : Electronic
ISBN : 9291691437

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Climate Change 2014 by Groupe d'experts intergouvernemental sur l'évolution du climat Pdf