Arbeitspapier
Recessions, the energy mix and environmental policy
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 analysis presented in this paper highlights that recessions and crises result in permanent, albeit small, increases in energy efficiency and in the share of renewables in total electricity. These effects are larger, however, when complemented with strong environmental policies - both market-based measures such as taxes on pollutants, trading schemes and feed-in-tariffs, and non-market measures such as emission and fuel standards and R&D investment and subsidies - that incentivise and hasten the transition towards renewable sources of energy.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bruegel Working Paper ; No. 18/2023
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Financial Crises
Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Climate; Natural Disasters and Their Management; Global Warming
Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- Thema
-
crises
recessions
energy mix
renewables
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Deb, Pragyan
Furceri, Davide
Ostry, Jonathan David
Tawk, Nour
- Ereignis
-
Veröffentlichung
- (wer)
-
Bruegel
- (wo)
-
Brussels
- (wann)
-
2023
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Deb, Pragyan
- Furceri, Davide
- Ostry, Jonathan David
- Tawk, Nour
- Bruegel
Entstanden
- 2023
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