Arbeitspapier
The interplay between green policy, electricity prices, financial constraints and jobs: Firm-level evidence
Increased investment in clean electricity generation or the introduction of a carbon tax will most likely lead to higher electricity prices. We examine the effect from changing electricity prices on manufacturing employment. Analyzing firm-level data, we find that rising electricity prices lead to a negative impact on labor demand and investment in sectors most reliant on electricity as an input factor. Since these sectors are unevenly spread across countries and regions, the labor impact will also be unevenly spread with the highest impact in Southern Germany and Northern Italy. We also identify an additional channel that leads to heterogeneous responses. When electricity prices rise, financially constrained firms reduce employment more than less constrained firms. This implies a potentially mitigating role for monetary policy.
- Sprache
-
Englisch
- Erschienen in
-
Series: NBB Working Paper ; No. 399
- Klassifikation
-
Wirtschaft
Monetary Policy
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Labor Demand
Energy: Government Policy
- Thema
-
environmental regulation
labor demand
employment
manufacturing industry
monetary policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bijnens, Gert
Hutchinson, John
Konings, Jozef
Saint Guilhem, Arthur
- Ereignis
-
Veröffentlichung
- (wer)
-
National Bank of Belgium
- (wo)
-
Brussels
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bijnens, Gert
- Hutchinson, John
- Konings, Jozef
- Saint Guilhem, Arthur
- National Bank of Belgium
Entstanden
- 2021
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