This paper aims to understand what motivates the adoption of key renewable energy technologies (RET) in early adopter markets. Electrification of heat and transport, through the deployment of heat pumps, electric vehicles and solar photovoltaic panels, combined with renewable sources of...

Players may categorize the strategies available to them. In many games there are different ways to categorize one's strategies (different frames) and which ones players use has implications for the outcomes realized. This paper proposes a model of agents who learn which frames to use through...

This work studies the role of socio-economic and geospatial factors in shaping battery electric vehicle adoption for the case study of Ireland. It provides new insights on the level and timing of likely adoption at scale using a Bass diffusion model combined with a spatial model. The Bass model...

Social marginal welfare weights play an important role in areas of applied public policy analysis such as tax reform. These weights reflect the values of the social planner, or equivalently the underlying social welfare function. A number of recent papers have questioned the "default"...

This paper examines the investment behavior of different financial institutions in debt securities with a particular focus on their response to price changes. For identification, we use security-level data from the German Microdatabase Securities Holdings Statistics. Our results suggest that...

Euro area governments have committed to break the doom loop between bank risk and sovereign risk. But policymakers have not reached consensus on whether and how to reform the regulatory treatment of banks' sovereign exposures. To inform policy discussions, this paper simulates portfolio...

Financial intermediaries often provide guarantees that resemble out-of-the-money put options, exposing them to tail risk. Using the U.S. life insurance industry as a laboratory, we present a model in which variable annuity (VA) guarantees and associated hedging operate within the regulatory...

This paper contrasts the investment behavior of different financial institutions in debt securities as a response to past returns. For identification, I use unique security-level data from the German Micro-database Securities Holdings Statistics. Banks and investment funds respond in a...

Financial networks are an important source of systemic risk, but often only partial network information is available. In this paper, we use data on bank-firm credit relationships in Japan and conduct a horse race between different network reconstruction methods in terms of their ability to...