Driven by the advancements in renewable energy, enhanced technology, and a burgeoning preference for eco-friendly and locally sourced power, the trajectory toward decentralized energy models seems poised to shape the future of energy systems, particularly in the realm of electricity. This shift...

Mit dem Ziel, bis 2045 klimaneutral zu werden, ist Deutschland ambitionierter als alle anderen G-20-Staaten. Um dieses Ziel zu erreichen, bedarf es einer tiefgreifenden Transformation der Wirtschaft, die mit enormen Investitionen einhergehen muss. Ein Dreh- und Angelpunkt ist die Finanzierung...

Decentralized Finance (DEFI) is changing the financial landscape. What are the consequences on market infrastructures, financial actors, the transmission of monetary policy? Does the concept of "Commons" introduced by Elinor Ostrom, winner of the 2009 Nobel Prize in Economics, offer a relevant...

We document the presence of significant liquidity costs in Spanish sovereign debt auctions: the larger the auctioned amounts, the lower the issuance price relative to secondary market prices. Motivated by this evidence, we characterize the optimal debt-maturity management problem of a government...

The topic of the Workshop will be SDGs and Human Rights. Panel 1: SDG 5’s Impact on the Human Rights of Women and Girls ; Panel 2: Human Rights Defenders ; Panel 3: Financing and Governance for Human Rights and the SDGs.

This essay studies China’s bond market development by reviewing the main characteristics of the onshore market and important liberalization steps. It also describes recent trends in debt portfolio investment flows into China by non-resident investors. The simple theoretical framework for push...

AI Talks @ ETUI is a series of inspiring (online) conversations which focus on the different dimensions of AI - ethical, social, environmental, legal, technological - and their impact on the world of work. Top experts from academia, civil society and online rights organizations, among others,...

The conference will feature once more an impressive academic line-up and, as last year, will be in virtual format. The three conference sessions will tackle issues related to monetary policy, credit and financial crises, the role of financial markets in monetary policy transmission as well as...

Climate change is one of the greatest economic challenges of our time. Given the scale of the problem, the question of whether a carbon tax should be introduced is hotly-debated in policy circles. This paper studies the design of a carbon tax when environmental factors, such as air...