The explosive increase of the price of natural gas is a key driver of inflation in Germany. At the same time, physical gas shortages in the fall or winter are a plausible scenario. A policy response is urgently needed that protects households from skyrocketing heating costs while at the same...

We propose a Fair New Deal for Germany. First, the German government needs to implement a public investment package that puts the German economy on a prolonged growth path. The main mechanisms of this first component of the Fair New Deal are electricity price controls, expansion of public...

In the wake of the global energy crisis, many European countries used energy price controls to fight inflation and to stabilize the economy. Despite its wide adoption, many economists remained skeptical. In this paper, we argue that price controls should be part of the policy toolbox to respond...

In the wake of the global energy crisis, many European countries used energy price controls to fight inflation and to stabilize the economy. Despite its wide adoption, many economists remained skeptical. In this paper, we argue that price controls should be part of the policy toolbox to respond...

The gas price shock has been a major contributor to inflation in Germany. In this context, Dullien and Weber (2022a, b, c) proposed a two-tier pricing scheme for natural gas in the spring of 2022 that lowers the price for a base quota through a subsidy while maintaining high market prices on the...

The structural theory of green transformation acknowledges the complexity of the transformation process and suggests a state-led approach with green industrial policy at its core. In contrast, the market-fundamentalist approach to the transformation problem relies on carbon pricing and the...

Following Russia's invasion of Ukraine, the risk of a prolonged physical supply shortage of natural gas is higher than ever before. While European Union (EU) institutions and member states are discussing the possibility of imposing an embargo or a gradual phase out in this sector, an abrupt...

Mitigating climate change requires information about the inequality in energy consumption. Recent contributions (Banerjee and Yakovenko, 2010; Lawrence et al., 2013; Yakovenko, 2010, 2013) have studied energy inequality through the lens of maximum entropy. They claim a weighted international...

Does what you exported matter? We build a new global commodity-level export database for the previous era of globalization and find persistence in productive capabilities proxied by economic complexity, export diversification, and sophistication across a century. We also show that productive...