Institutions play a central role in shaping entrepreneurial behavior, yet much of the existing literature, even with the foundational insights of institutional economists such as Veblen, Mitchell, Commons, Coase, Ostrom, Williamson, and North, continues to view institutions as monolithic...

The design of energy policy mixes plays a critical role in low-carbon transitions. While an increasingly diverse and extensive array of policy mixes may enhance systemic transformation, it can also generate policy conflicts that undermine effectiveness. To examine this tension, this study...

The chocolate supply chain exemplifies the social and environmental challenges within global food systems. Growing awareness of environmental impact and ethical production practices is increasingly shaping consumer choices and influencing food policy. This highlights the need for an integrated...

Governments develop mixes of policy instruments to drive electric vehicle adoption by combining direct and indirect financial incentives and informational and convenience policies. In this paper, we analyse the impact of instrument mixes on electric vehicle adoption by firms because their early...

This paper investigates dynamic relationships between U.S. government expenditure multipliers and the economy's cyclical position from 1949 to 2018 using a Time-Varying Parameter Vector Autoregression (TVP-VAR) model. We challenge the existing literature, which predominantly relies on predefined...

We construct a New-Keynesian E-DSGE model with energy disaggregation and financial intermediaries to show how energy-related fiscal and macroprudential policies interact in affecting the euro area macroeconomy and carbon emissions. When a shock to the price of fossil resources propagates through...

Starting from the Tinbergen principle and four areas of economic policy, we argue that in practice economic policies each have multiple effects, rendering a clear and simple allocation of objectives and instruments to different policies and their responsible institutions complex. First, the case...

The bilateral tariffs imposed by the US are uncalled for, and the EU must respond vigorously to deter the administration from harming their mutual trade relationship. The threats of tariffs come on top of adverse energy shocks associated with the war in the Ukraine and lagging productivity...

Purpose: Sustainable mobility is emerging as one of the most important factors relevant to sustainable development. The transition to electric vehicles helps in reducing emissions and contributes to the well-being of society. This study intends to explore the various determinants that define...

The paper explores the strategic role of policy mixes in steering large-scale incumbent firms towards sustainable economic pathways in Europe. The paper acknowledges the critical contribution of startups in the sustainability sector but emphasizes the need for a transition among the established...

With global efforts to achieve carbon neutrality, balancing economic development with sustainable energy transitions remains critical, prompting governments to prioritize green innovation for both environmental and economic gains. However, reliance on environmental policies alone often leads to...

Drawing on a longitudinal database of Belgian firms over the years 2014-2020, this study investigates the joint effect of R&D grants and R&D tax credits on R&D inputs and innovation outputs. We estimate Conditional Difference-in-Difference (CDiD) models and apply both treatment effects...

Climate change poses a significant threat to Ireland, with far-reaching implications for its environment, people, and economy. Consequently, proactive measures are important to mitigate and adapt to these impacts. This paper analyses potential adaptation options and their associated costs and...

This paper employs an estimated dynamic stochastic open-economy macro framework to identify policy interventions that allow Türkiye to achieve net-zero emissions by 2053 while respecting important feasibility constraints such as fiscal consolidation and sovereign debt stability as well as...

Nordhaus's theory of the "destructive game" (1994) is a central analysis of the policy mix. His theory showed that a lack of cooperation between the central bank and the fiscal authorities would result in the budget deficit being higher and the inflation rate lower than either of the authorities...

Recent decades have shown an unprecedented growth in demand for resources, with a trend that is projected to accelerate in the future. Policymakers around the world have started to recognise that transitioning to a more resource-efficient and circular economy (CE) is key to addressing this...

Research background: Ghana was the second African country to adopt the inflation-targeting framework in 2007. The country faced persistently high levels of inflation, exceeding 100 percent in the early 1980s. Since the adoption of the inflation targeting regime, the inflation rate has decreased...

While public policy guidelines emphasise the need to consider sustainability issues as interconnected, policymakers often focus on specific problem areas. The concept of "policy mix" was introduced to highlight that adopting a single policy instrument is insufficient for effective territorial...

The 'Evaluation study on the relevance and internal coherence of Horizon 2020 and its policy mix' shows high levels of relevance and internal coherence of Horizon 2020. The study findings were in part based on the quantitative and qualitative analysis in the enclosed annexes: Annex A:...

The purpose of the 'Evaluation study on the relevance and internal coherence of Horizon 2020 and its policy mix' is to provide the European Commission with the specific data and analyses needed to support the ex-post evaluation of Horizon 2020 regarding the evaluation criteria 'relevance' and...

In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three distinct monetary/fiscal regimes in France and Italy: a...

How do severe recessions, such as those brought about by the Global Financial Crisis or the COVID-19 pandemic, affect the composition of energy generation between green and dirty sources? Does creative destruction during recessions result in a sustained greening of the energy mix? The empirical...