How the increased trade openness and correspondingly higher marginal propensity to import explains the lower efficiency of economic policy in the context of economic openness. Using an empirical stock-flow consistent model for the French economy (SFC FR), we analyze the macroeconomic impacts of these policies through a series of macroeconomic shocks.
The economic agent was previously assumed to be distinct from its environment and that nothing was forcing him to act on it. With the ecological crisis, every agent appears to be inserted into an environment, which he modifies in an irreversible way without even having decided to do so. This changes in depth the...
Juan-Pablo Montero, Felipe Sepúlveda, Leonardo J. Basso
In September 2020, the city of Bogotá introduced a major market-based reform to its odd-even driving restriction. The big winners of the reform are middle-income individuals who now use their cars more often, whereas the big losers are high-income individuals who now spend more time in traffic.
Maryam Sadighi, Jean-Pierre Ponssard, Maria Eugenia Sanin, Murès Zarea, Elodie Le Cadre Loret
Adopting disruptive technologies for decarbonizing hard-to-abate industrial sectors requires experimentation through demonstration (pilot) projects. However, from an economic perspective, the potential long-term benefits and the difficulties in designing relevant public policies are not addressed in the standard valuations of those projects.
Cette note tente de définir les contours de la planification écologique nécessaire en s’appuyant notamment sur les expériences passées et récentes. Seront successivement analysés (1) les obstacles à la transition écologique qu’il convient de surmonter, (2) les leçons des expériences de planification passées et récentes et (3) les pistes permettant de réinventer la planification française pour promouvoir la...
Il n’est pas certain que l’expérience terrestre soit heureuse, comme il n’est pas certain que les hommes aient le désir de la faire durer. Il se pourrait ainsi que la répugnance à la condition terrestre soit la première raison de l’inaction écologique.
Our analysis of the Climate Risks and Opportunities Index (CRORI) and the CDP climate score reveal a parallel improvement of these indices with different sectoral disparities over the 2015–2019 period. While our results are encouraging, they need to be put into perspective because these firms are still far from being carbon neutral.
We examine in this paper sustainability-linked bonds (SLBs) whose issuance now totals more than USD 200 bn. There is a structural design flaw in the SLB mechanism: setting a significant coupon step-up does not suit the issuer’s nor the investors’ interests, considering conditionality. This creates a no win situation for the issuer and investors alike and explains the “benign”...
The paper examines the relevant cost benefit framework for state agencies investigating the potential of local projects to mitigate climate change. We propose a new metric that incorporates into the analytical framework the dynamic interactions between the project and its continuation.
International conference Monday 19th of May The low-carbon transition requires both the emergence of new technologies and the large-scale deployment of existing...
