This paper examines the extent with which Energy Performance Certificates (EPCs) reflect observed energy used for heating. We use high-frequency smart thermostat panel data in combination with building characteristics and hourly weather information. We exploit variations in boiler operation in the neighborhood of a steady state indoor temperature to elicit the predictive power of an…
Number 2
Evaluation of the Winter Pollution Mitigation Policy in China
Rapid industrialization in China has come with substantial increases in local air pollution. This paper quantifies the health benefits of the Winter Pollution Mitigation Policy of 2017. We estimate that this policy caused an 18% reduction in fine particulate concentration levels, resulting in 19,400 deaths avoided in 2017 due to pollution exposure in Beijing, Tianjin,…
Energy Markets Under Stress: Some Reflections on Lessons From the 2021–2023 Energy Price Crisis in Europe
This paper examines the 2021–2023 energy crisis in Europe exacerbated by the energy consequences of the full-scale Russia—Ukraine war which began in February 2022. We show that this was an historically unprecedented price shock to both gas and electricity prices. We then draw on lessons from UK energy policy in World War Two to inform…
Understanding Indicators for Circular Economy Application in Manufacturing
This paper aims to provide manufacturing companies with a comprehensive understanding of the various indicators used to evaluate circular economy (CE) practices. Through a systematic review of existing literature, it highlights the essential role of these metrics in promoting the adoption of CE principles within the manufacturing sector. The discussion is organized around a six-step…
Leveraging the Inflation Reduction Act to Achieve 80×30 in the US Electricity Sector
The US Inflation Reduction Act (IRA) promises to deliver important reductions in CO2 emissions from the electricity sector along with a host of other benefits to citizens and electricity consumers, but it falls short of achieving the 80 percent reduction (below 2005 levels) by 2030 (80×30) consistent with meeting the nation’s Paris goals. This paper…
Regional Electricity Trade in Latin America Without Expanding Generation Capacities
The current cross-border electricity trade provision in Latic America is limited, only to about 4% of the total regional generation. This study estimates the potential savings on electricity supply costs if 20 Latin American countries trade electricity between the borders without expanding their current electricity generation capacity. We simulated two scenarios on electricity trade—an unconstrained…
Towards a Green Monetary Policy for Developing Countries: A Climate Rating Mechanism for Funding Sustainable Projects
Even though the monetary policy first mission, has never been oriented to fight against global warming, central banks are starting to mobilize more efforts, in the financial sector, to tackle the negative impact posed by the uncontrolled climate change on the economy. In this paper, we propose a new mechanism contributing to the greening of…
Sustainable Economic Growth
Total factor productivity and tax avoidance: An asymmetric micro-data analysis for European oil and gas companies
This paper investigates the asymmetric relationship between corporate tax avoidance and total factor productivity (TFP) using firm-level data for 141 European oil and gas companies, covering the period 2007 to 2015. Firstly, we rely on the novel mechanism advanced by Rovigatti and Mollisi (2018) to compute firms’ TFP. Secondly, we resort to Canay’s (2011) panel…