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  1. Energy price shocks and stabilization policies in a multi-agent macroeconomic model for the Euro Area
    Autor*in: Turco, Enrico; Bazzana, Davide; Rizzati, Massimiliano; Ciola, Emanuele; Vergalli, Sergio
    Erschienen: September 2022
    Verlag:  Fondazione Eni Enrico Mattei, Milano, Italia

    Soaring energy prices since fall 2021 have prompted European governments to introduce policy measures to support households and businesses. In this paper, we employ the MATRIX model, a multi-sector and multi-agent macroeconomic model calibrated on... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 125
    Fernleihe:
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    Soaring energy prices since fall 2021 have prompted European governments to introduce policy measures to support households and businesses. In this paper, we employ the MATRIX model, a multi-sector and multi-agent macroeconomic model calibrated on the Euro Area, to analyze the economic and distributional effects of different types of macro-stabilization policies in response to energy price shocks. Simulation results show that, in the absence of stabilization policies, an increase in fossil fuel price would lead to a sharp growth in price inflation and a severe contraction in real GDP, followed by a slow but steady recovery. We find no significant effects of generalized tax cuts and household subsidies, while firm subsidies promote a faster recovery but at the expense of greater financial instability in the medium term due to the resulting market distortions. If timely adopted, governmentfunded energy tariff reduction is the most effective policy in mitigating GDP losses at relatively low public costs, especially if coupled with an extra-profit tax on energy firms. Energy entrepreneurs benefit from rising fuel prices in all policy scenarios, but to a lesser extent under energy tariff cuts and windfall profits tax, favouring, in that case, workers and downstream firms owners.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/267490
    Schriftenreihe: Working paper / Fondazione Eni Enrico Mattei ; 2022, 25
    Schlagworte: Energy shocks; Policy analysis; Agent-based models; Macroeconomic dynamics
    Umfang: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  2. International trade and macroeconomic dynamics with sanctions
    Autor*in: Ghironi, Fabio; Kim, Daisoon; Ozhan, G. Kemal
    Erschienen: 27 May 2024
    Verlag:  Centre for Economic Policy Research, London

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Array ; DP19109
    Schlagworte: Macroeconomic dynamics; Sanctions; Trade; Welfare
    Umfang: 1 Online-Ressource (circa 67 Seiten), Illustrationen