2,489 research outputs found
Smart grids: Impacts and challenges on energy sector.
Full text linkDigitalisation, driven by the transformative impact of digital technologies, has an important role in the energy transition process. Advancements in these technologies are bringing about significant changes in how energy is generated, transmitted, and utilised. In particular, digital technologies enable modern smart grids to optimize energy management by integrating renewable energy sources more effectively. In this context, the paper explores the effects of smart grids on the energy transition, emphasising their benefits and the key incentives that promote investment. Additionally, it reviews current trends in smart grid development across European countries, with a specific focus on Italy. The objective is to provide a comprehensive overview of the investments required to implement both existing and new smart grid projects
TECHNO-ECONOMIC IMPACTS OF ENERGY TRANSITION: THE STATE OF THE ART
No full textAchieving net-zero carbon emissions goals requires tangible actions that regions,
countries, sectors, and organizations should take to accelerate the energy transition along
with a growing trend toward renewable energy sources. Digitalization, a phenomenon
introduced by the transformative power of digital technologies, plays a key role in the energy
transition process. Providing advancements in technology leads to significant changes in the
way energy is produced, transmitted, and consumed. In light of that, the paper discusses the
impacts of digitalization on energy transition by highlighting its benefits and crucial
incentives favoring investment processes. In terms of policy messages, the paper suggests
that policies based on a more integrated assessment of the links between the transforming
energy sector and the overall economy would be needed. Moreover, regulations promoting
financial incentives to support investments would be recommended to satisfy the novel
paradigm of energy transition.
4 Introduction
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Sviluppo sostenibile e transizione energetica: una roadmap per l’Italia
No full textL’obiettivo della transizione energetica sostenibile è oggigiorno al centro delle agende dei policy makers di tutto il mondo. Ciò, al fine di garantire lo sviluppo dei settori energetici senza compromettere l’inclusione sociale e la sostenibilità ambientale ed economica.
In tale contesto, l’Italia si colloca tra i paesi che stanno compiendo maggiori sforzi nel prendere parte al processo di trasformazione del settore energetico e pertanto, assume un ruolo cruciale. Alla luce di ciò, questo documento contribuisce alla letteratura scientifica, esaminando lo stato della transizione energetica nel nostro paese e le principali tappe dell’evoluzione normativa sul tema. Inoltre, il presente elaborato si propone di evidenziare le principali sfide che il paese si ritrova ad affrontare soprattutto per ciò che concerne gli onerosi investimenti in tecnologie intelligenti, necessari ad incrementare l’adozione di fonti di energie rinnovabili.
L’obiettivo, è quello di offrire utili spunti di riflessione circa le modalità attraverso cui l’Italia potrebbe affrontare e superare tali sfide, promuovendo la transizione verso sistemi energetici più sostenibili. Inoltre, si propone di offrire utili messaggi di policy dato il cruciale ruolo che i responsabili politici rivestono nell’incentivare e favorire tale processo di trasformazione
Disinflation Costs and Macroprudential Policies: Real and Welfare Effects
Full text linkThis paper investigates the costs of disinflation in an otherwise standard DSGE model with borrowing constraints and credit frictions, augmented with macroprudential authority. Analyzing the real and welfare effects of a permanent change in the inflation rate, we study the role of macroprudential policy and its interaction with monetary policy in ensuring financial stability. Results show that when macroprudential authority intervenes actively in order to improve financial stability, disinflation costs are limited. As for the welfare effects, disinflation is welfare improving for savers but welfare costly for borrowers and banks
Inflation-based fiscal consolidation: a DSGE approach
No full textThis paper investigates under which conditions a permanent increase in inflation target might entail public debt reduction, in a Two Agents New Keynesian model with sticky prices and distortionary taxation. In light of that, this paper contributes to the more recent lively debate among economists and policymakers regarding whether an increase in inflation could contribute to a public debt reduction without damaging macroeconomic stability. Real and welfare effects caused by changes in the inflation target from 2% to 5% are discussed. Overall, results show that an increase in inflation affects the economy positively in the short run but negatively in the long term. Consistently, higher inflation worsens households’ welfare. Moreover, a sensitivity analysis of the model’s key parameters is carried out. Quite interestingly, it emerges that fiscal consolidation through an increase in inflation is far from obvious. A more sluggish inflation adjustment path influences households’ expectations, entailing debt-to-GDP ratio increases rather than decreases
The Green Hour: Low-emission vehicles, PA-NJ radio broadcast, June 29, 2015
No full textOur society is structured in such a way that most of us are so dependent on cars that it is not easy to simply give them up. But you can make a choice as to what sort of car you have and what level of impact you have on our environment. Do you choose one which gives you 50 mpg or one that gives you 10 mpg? Or is electric? What sort of car do you really need? Listen to the experts as they offer insights on what the best choices available and why.Guests: Michael Thwaite, President of Plug-in America and the NJ Electric Auto Association, and Professor Monica Mazurek of the School of Engineering at Rutgers University.Direct link to broadcast audio,http://www.greenhourradio.com/the-cars-we-drive-say-a-lot-about-us-2/Promo by host (Gery Juleff):You can love your car even more by.......if you make the right choice for your community and the environment.Let’s keep it simple.a Most of us need a car to fully participate in our social and economic environment. And many people enjoy cars.b) But there is a price to pay every time we drive – to our own pocket and to the health of our communities and the environment.c) So we have an obligation to minimize that damage.d) There are many ways in which we can do that, including driving less. But the most important thing we can do is choose a car that does what we need it to do but with the least damage.e) There are many, many options out there for all types of vehicles, from low emission gasoline cars to electric vehicles.f) Find out more on www.greenhourradio.com and listen to our discussion with Michael Thwaite, President of Plug-in America and the NJ Electric Auto Association, and Professor Monica Mazurek of the School of Engineering at Rutgers University on www.panjradio.com all this week at 3 and 6pm or later in the week via the podcast on www.greenhourradio.comg) What are you waiting for?Gery JuleffHost of the 'Green Hour'www.greenhourradio.com [email protected] 529 0149The Green Hour is sponsored by our supporters at Duke Farms. Duke Farms serves as a model of environmental stewardship and inspires visitors to become informed stewards of the land. It is a place of education, enjoyment and inspiration that enhances the environmental health of the region
THE IMPACT OF MONETARY POLICY SHOCK ON PUBLIC DEBT: A DSGE APPROACH
Full text linkThe impact of monetary policy shock on public debt: a DSGE approach
Nowadays, the increase in public debt and inflation are key concerns of the political debate among policymakers. In this regard, some economists have argued that the reason why inflation is higher lies in a transitory rise of commodity prices; others, instead, have asserted that permanent changes in the labor market caused by the Covid-19 pandemic, may also contribute to keeping inflation high for a long time.
This paper aims to investigate the effects of a positive monetary policy shock on the public debt-to-GDP ratio. Moreover, it assesses its different impacts on households. For these purposes, the paper employs an extended version of the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model à la Leeper et al., (2017) considering an economy populated by savers and hand-to-mouth households, with distortionary taxation.
Our analysis confirms that an increase in inflation contributes to public debt-to-GDP ratio reduction, thanks to the positive impact on output in the short term. Moreover, results highlight a trade-off between agents: savers as forward-looking agents invest their savings in the short term by increasing their income; on the opposite, hand-to-mouth households suffer a loss of income.
This paper contributes to the literature on monetary and fiscal policy, which focuses on the relationship between public debt and inflation
Fiscal consolidation plans with underground economy
No full textFiscal consolidation literature often neglects that there are economies characterized by sizable underground sectors, with their mechanisms of response to fiscal policy shocks. Therefore, reliable analyses of fiscal consolidation plans call for the decomposition of Gross Domestic Product in its regular and hidden components. We investigate fiscal consolidation effects in the context of tax evasion for the Italian economy. Results show that a temporary cut in public spending associated with a permanent drop in tax rate yet entails tax evasion reduction. The main underlying mechanism is the strong responsiveness of
the underground sector, implying a reallocation of resources toward the regular sector
Author Monica Wood writes of her childhood in Mexico, Maine, and the day of her
No full textAuthor Monica Wood writes of her childhood in Mexico, Maine, and the day of her father\u27s death
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