We explore to what extent real returns on investment portfolios can be hedged against inflation risk by using existing financial market instruments. We find that inflation-linked bonds offer only limited protection against inflation risk and that nominal debt and stocks play at least comparable...

We explore to what extent real returns on investment portfolios can be hedged against inflation risk by using existing financial market instruments. We find that inflation-linked bonds offer only limited protection against inflation risk and that nominal debt and stocks play at least comparable...

This paper considers the design of efficient Distribution Use of System (DUoS) tariffs for the Irish electricity distribution network. We calculate indicative costreflective 'Coasian' tariff for residential, commercial and industrial consumers. Under a cost-reflective 'Coasian' structure, non...

We estimate the welfare implications of a cost-reflective 'Coasian' reform of electricity network tariffs using an Irish case study. We find that current Distribution Use of System (DUoS) tariffs deviate considerably from a cost-reflective structure. At the individual level, tariff reform leads...

In this paper, we address how the monetary authority should react to financial market status and exchange rates movements in a small open economy New Keynesian model with financial frictions due to asymmetric information between savers and borrowers. We show that the small economy with financial...

This paper studies the effect of austerity on forms of political participation–including voting, appealing for reform, and peaceful protesting–and the role of preferences for redistribution in shaping the relationship between individual exposure to austerity and political participation. The...

This paper studies the effect of austerity on forms of political participation-including voting, appealing for reform, and peaceful protesting-and the role of preferences for redistribution in shaping the relationship between individual exposure to austerity and political participation. The...