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...

This paper identifies electricity supply shocks by exploiting the fact that variations in wind speed at turbine locations are exogenous with respect to macroeconomic outcomes and drive electricity prices in European wholesale markets inframarginally. Instrumenting electricity price changes with...

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...

India has achieved near-universal electrification, yet large inequalities persist in the reliability of the electricity supply. Combining high-resolution satellite-based measures of electricity reliability - defined as the share of nights with detectable illumination - with village-level census...

This study examines the impact of the Russia-Ukraine war on crude oil tail risk using the Conditional Autoregressive Value at Risk (CAViaR) framework. We analyzed 2364 daily observations of West Texas Intermediate (WTI) crude oil futures spanning 1 January 2015 to 11 December 2023, thereby...

• In March 2026, the Strait of Hormuz is closed. The shutdown blocks roughly one-fifth of the world's oil and one-quarter of its liquefied natural gas, triggering severe welfare losses in energy-dependent developing countries worldwide. • Standard trade models underestimate the impact...

According to the International Energy Agency, energy security means that energy sources are always available at an affordable price. However, the 2021 and 2022 energy crises and the current global situation raise concerns about energy availability and affordability. As countries, especially...

Energy-sector challenges have shaped international relations since early history, making energy a key component of geopolitics. Understanding current global and regional energy and economic trends is therefore essential. Armenia, like many European Union countries, faces significant challenges...

This paper examines how productivity dynamics and, as a consequence, potential output, are affected by energy price shocks. We do this through the lens of a model of endogenous technical change where firms adjust their investment in non-energy productivity and energy productivity in reaction to...

Dynamic social norms have been recognized as a promising approach to promote energy sufficiency. By highlighting trends and future shifts rather than current states, dynamic norms allow for a better focus on emerging norms that are not widely adopted. While existing studies predominantly examine...

Mini-grids are emerging as a key solution to electrify access-deficit communities, yet their effectiveness in improving energy access and household welfare remains underexplored. This paper provides novel evidence from Tanzania, where a policy reform doubled the number of mini-grids since 2008....

Energy security risks and private sector development are inherently intertwined and serve as pivotal determinants in shaping the evolutionary trajectory of the renewable energy (RE) industry, especially in emerging economies, where the transition to sustainable energy constitutes a critical...

As electricity systems undergo rapid decentralization and decarbonization, ensuring resilience to increasingly complex and high-impact disruptions has become a strategic imperative. However, current approaches to resilience measurement remain fragmented, inconsistent, and poorly aligned with the...

Limiting global warming to 1.5°C requires immediate action. Although allowable global greenhouse gas emissions are well-defined, translating these targets into actionable strategies at the company-level remains challenging. This study addresses critical gaps in understanding transition cost...

This study examines the economic and environmental impacts of fossil fuel subsidies in the European Union (EU) during the energy crisis triggered by the 2022 Ukraine war, focusing on their implications for corporate performance and sustainability. Using a panel dataset of 100 publicly listed...

This paper studies the impact of energy security risk on corporate innovation and whether and how powerful chief executive officers (CEOs) influence such effects. Based on a sample of U.S. energy firms, the empirical findings suggest that energy security risk significantly impedes firms'...

The European energy market remains heavily reliant on imported fossil fuels and fragmented across Member States. This leaves the EU exposed to high and volatile energy prices, posing risks to its growth outlook and its international competitiveness. As the EU advances its energy security and...

We study the aggregate, distributional, and welfare effects of fiscal policy responses to Germany’s energy crisis arising in 2022 using a novel ten-agent New Keynesian (TENK) model. The crisis, compounded by the COVID-19 pandemic, led to sharp price increases and significant consumption...

Background: The global transition to low-carbon energy systems has intensified the need for circular approaches in energy supply chains, yet studies on second-life EV battery ecosystems in emerging economies remain fragmented between barrier prioritization and efficiency assessment. Methods:...

The distributional and disruptive effects of energy supply shocks are potentially large. We study the effectiveness of alternative fiscal responses in a two-country HANK model calibrated to the euro area. Subsidies can stabilize the domestic economy, but they are fiscally costly and generate...

This paper aims to understand the health effects of energy poverty in Germany using SOEP panel data from 2010 to 2020. Linear probability models and fixed effects ordered logit models reveal a consistently negative relationship of three expenditures based energy poverty indicators with general...

This paper aims to understand the health effects of energy poverty in Germany using SOEP panel data from 2010 to 2020. Linear probability models and fixed effects ordered logit models reveal a consistently negative relationship of three expendituresbased energy poverty indicators with general...