We study the potential effects on the real economy and welfare of four fiscal policy responses to an energy supply shock: energy vouchers to all households, only to lowincome households, or to non-energy goods producers, and subsidies for investments in the energy sector. The analysis relies on...

Volatility reflects the degree of variation in a time series, and a measurement of the stock performance in the energy sector can help one understand the pattern of fluctuations within this industry, as well as the factors that influence it. One of these factors could be the COVID-19 pandemic,...

The impact of energy price fluctuation on the macro economy is a hot issue that is continuously concerned by the academic community, but few literature have paid attention to the impact of energy price fluctuation on housing price and the financial risks that may arise. Based on the data of...

We study the potential effects on the real economy and welfare of four fiscal policy responses to an energy supply shock: energy vouchers to all households, only to lowincome households, or to non-energy goods producers, and subsidies for investments in the energy sector. The analysis relies on...

This paper examines key driving forces of inflationary pressures, taking into account supply and demand side determinants and actions of policy makers, during the pandemic and geopolitical crises in the Eurozone. Using heterogeneous nonstationary macro-panel models, especially the Mean Group...

This analysis deploys the concept of national energy cost share, a practical indicator that measures the ratio of energy costs to gross domestic product (GDP), and uses a dataset covering 142 countries over a 40-year period. It examines how national energy cost shares evolve in response to...

This paper presents a novel model comparison to examine the challenges posed by changes in carbon-intensive energy prices for monetary policy. The employed environmental monetary models have a detailed multi-sector structure. The comparison assesses the effects of both a temporary and a...

Amidst global decarbonization dynamics, Artificial Intelligence (AI), the Digital economy, and energy prices are shaping the energy transition in a way that has never been more critical. Using MMQR and IVQR, this research investigates the effects of AI, research and development (R&D), and energy...

We analyze the sources of the pandemic-era inflation surge in the euro area using a Bayesian vector autoregression (BVAR) model. By applying narrative, sign, zero, and inequality restrictions, this study is the first that jointly analyzes the inflationary effects of energy and non-energy supply...

The Euro Area experienced historically high inflation in 2022, with energy prices playing a central role. This paper examines the joint impact of various energy price shocks on inflation in the Euro Area, with a focus on the period encompassing the COVID-19 pandemic and the Russia–Ukraine war....

This paper examines the impact of energy poverty on subjective well-being in Germany using longitudinal data from the German Socio-Economic Panel (SOEP) over the period 2010-2023. Exploiting within-individual variation, we estimate fixed-effects models using objective, subjective, and composite...

With the liberalization of the electricity markets in 1998, Germany opted for a single, nationwide wholesale price. Regional differences in supply and demand are not taken into account. In the event of grid congestion, electricity generators are paid to adjust their output. This leads to rising...

This paper evaluates the effect of the Russian invasion of Ukraine in February 2022 on refinery margins, i.e. the difference between wholesale prices for road fuels (gasoline and diesel) and oil prices in Europe and Germany in particular. Following the Russian invasion of Ukraine, wholesale road...

This paper evaluates the effect of the Russian invasion of Ukraine in February 2022 on refinery margins, i.e. the difference between wholesale prices for road fuels (gasoline and diesel) and oil prices in Europe and Germany in particular. Following the Russian invasion of Ukraine, wholesale road...

Many governments still help to keep fossil fuels cheap - sometimes by directly paying part of the supply cost (explicit subsidies), and at other times by not including the hidden costs of pollution and health problems they cause in their price (implicit subsidies). But what is the true cost to...

Energy poverty describes a condition of energy-related social deprivation, usually associated with inadequate access to energy services, unfulfilled basic energy needs, or excessive payment for energy. Despite substantial progress in the research, a significant theoretical divergence still...

This paper evaluates the temporary reduction in energy taxes implemented by the German government between June and September 2022. We use pricing and quantity data from the wholesale market for crude oil, gasoline, and diesel and find an average pass through of 80% to 85% of the tax cut, which...

This study explores the intricate links between remittance inflow and energy consumption in South Asia, a region characterized by high levels of migration abroad and remittance inflows. The present study provides a thorough analysis of vigorous energy utilization in the context of South Asian...

In 2021 and particularly in 2022, gas prices rose sharply in Europe due to Russia's invasion of Ukraine and the previous throttling of Russian gas supply to Western Europe. Because of the merit-order system, this also led to an increase in electricity prices in Austria and in many other EU...

This paper evaluates the temporary reduction in energy taxes implemented by the German government between June and September 2022. We use pricing and quantity data from the wholesale market for crude oil, gasoline, and diesel and find an average pass through of 80% to 85% of the tax cut, which...

Governments around the world are under pressure to reduce industrial energy use and emissions without losing out to international competition. For this reason, climate policies often come with exemptions or additional support for large energyintensive firms, increasing the heterogeneity in...