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  1. The climate change challenge and fiscal instruments and policies in the EU
    Author: Avgousti, Aris; Caprioli, Francesco; Caracciolo, Giacomo; Cochard, Marion; Dallari, Pietro; Delgado-Téllez, Mar; Domingues, João; Ferdinandusse, Marien; Filip, Daniela; Nerlich, Carolin; Prammer, Doris; Schmidt, Katja; Theofilakou, Anastasia
    Published: [2023]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    Fiscal policy plays a prominent role in climate change mitigation and adaptation. An optimal combination of revenue policies, in particular taxes, and expenditure policies, such as subsidies and investment, is essential in order to achieve greenhouse... more

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 535
    Inter-library loan:
    No inter-library loan

     

    Fiscal policy plays a prominent role in climate change mitigation and adaptation. An optimal combination of revenue policies, in particular taxes, and expenditure policies, such as subsidies and investment, is essential in order to achieve greenhouse gas emissions targets. This paper analyses the main fiscal instruments in place in European Union Member States, focusing on specific issues, such as the fiscal impact of extreme weather events, the interaction between debt sustainability and climate change, the green investment gap and the distributional impact of climate policies. The paper aims to provide an overview of existing fiscal policies and of the main fiscal challenges for a comprehensive European climate change strategy.

     
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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289960595
    Other identifier:
    hdl: 10419/278426
    Series: Occasional paper series / European Central Bank ; no 315
    Subjects: climate change; carbon tax; debt sustainability; green investment,extreme weather events; redistribution
    Scope: 1 Online-Ressource (61 Seiten), Illustrationen
  2. The climate change challenge and fiscal instruments and policies in the EU
    Author: Avgousti, Aris; Caprioli, Francesco; Caracciolo, Giacomo; Cochard, Marion; Dallari, Pietro; Delgado-Téllez, Mar; Domingues, João; Ferdinandusse, Marien; Filip, Daniela; Nerlich, Carolin; Prammer, Doris; Schmidt, Katja; Theofilakou, Anastasia
    Published: [2023]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    Fiscal policy plays a prominent role in climate change mitigation and adaptation. An optimal combination of revenue policies, in particular taxes, and expenditure policies, such as subsidies and investment, is essential in order to achieve greenhouse... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

     

    Fiscal policy plays a prominent role in climate change mitigation and adaptation. An optimal combination of revenue policies, in particular taxes, and expenditure policies, such as subsidies and investment, is essential in order to achieve greenhouse gas emissions targets. This paper analyses the main fiscal instruments in place in European Union Member States, focusing on specific issues, such as the fiscal impact of extreme weather events, the interaction between debt sustainability and climate change, the green investment gap and the distributional impact of climate policies. The paper aims to provide an overview of existing fiscal policies and of the main fiscal challenges for a comprehensive European climate change strategy.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289960595
    Other identifier:
    hdl: 10419/278426
    Series: Occasional paper series / European Central Bank ; no 315
    Subjects: climate change; carbon tax; debt sustainability; green investment,extreme weather events; redistribution
    Scope: 1 Online-Ressource (61 Seiten), Illustrationen
  3. Budget-neutral labour tax wedge reductions
    a simulation-based analysis for selected euro area countries
    Author: Attinasi, Maria-Grazia; Prammer, Doris; Stähler, Nikolai; Tasso, Martino; Parys, Stefan van
    Published: [08.08.2016]
    Publisher:  Deutsche Bundesbank, Frankfurt am Main

    Budget-neutral tax wedge reductions rank high in the policy agenda of several EMU member states. Using a New Keynesian DSGE model of a monetary union with a complex labour market structure and a comprehensive public sector, we evaluate the... more

    Location:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 12 (2016,26)
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    Location:
    Universitätsbibliothek Osnabrück
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    Budget-neutral tax wedge reductions rank high in the policy agenda of several EMU member states. Using a New Keynesian DSGE model of a monetary union with a complex labour market structure and a comprehensive public sector, we evaluate the macroeconomic and welfare effects of reducing the firms' and workers' labour tax rates under alternative financing instruments. Overall, a tax wedge reduction is beneficial in terms of both welfare and output, as long as the financing measure does not harm private-sector productivity and/or the incentive for private capital investments over-proportionately. While financing the labour tax wedge reduction by an increase in consumption taxation yields most favourable output effects, financing it by a reduction in government spending is more beneficial in terms of welfare as the latter does not imply a policy-induced increase in private consumption costs. We also show that, when we assume that firms can adjust the ex- and intensive labour margin in response to policy changes, a reduction in the workers' and not the firms' burden is most beneficial.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9783957292780
    Other identifier:
    hdl: 10419/144766
    RVK Categories: QB 910
    Series: Discussion paper / Deutsche Bundesbank ; no 2016/26
    Subjects: Steuerbelastung; Steuerpolitik; Steuersenkung; Wohlfahrtsanalyse; Beschäftigungseffekt; DSGE-Modell; Eurozone; EU-Staaten
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  4. Fiscal sustainability and policy implications for the euro area
    Author: Balassone, Fabrizio; Cunha, Jorge Correia da; Langenus, Geert; Manzke, Bernhard; Pavot, Jeanne; Prammer, Doris; Tommasino, Pietro
    Published: [2009]
    Publisher:  National Bank of Belgium, Brussels

    In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We critically assess the widely used projections of the Working Group on Ageing Populations (AWG) of the EU's Economic Policy... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 546 (155)
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    In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We critically assess the widely used projections of the Working Group on Ageing Populations (AWG) of the EU's Economic Policy Committee and argue that ageing costs may be higher than projected in the AWG reference scenario. Taking into account adjusted headline estimates for ageing costs, largely based upon the sensitivity analysis carried out by the AWG, we consider alternative indicators to quantify sustainability gaps for euro area countries. With respect to the policy implications, we assess the appropriateness of different budgetary strategies to restore fiscal sustainability taking into account intergenerational equity. Our stylised analysis based upon the lifetime contribution to the government's primary balance of different generations suggests that an important degree of pre-funding of the ageing costs is necessary to avoid shifting the burden of adjustment in a disproportionate way to future generations. For many euro area countries this implies that the medium-term targets defined in the context of the revised stability and growth pact would ideally need to be revised upwards to significant surpluses.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/144367
    Series: Working paper research / National Bank of Belgium ; no 155 (January 2009)
    Subjects: Alternde Bevölkerung; Öffentliche Ausgaben; Generationengerechtigkeit; Finanzpolitik; Nachhaltigkeit; EU-Staaten
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  5. Housing and the tax system
    how large are the distortions in the euro area?
    Author: Fatica, Serena; Prammer, Doris
    Published: [2017]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    This paper presents new evidence on the impact of the preferential treatment of owner-occupied housing in Europe. We find that tax benefits to homeowners reduce the user cost of housing capital by almost 40 percent compared to the efficient level... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 534 (2087)
    Inter-library loan:
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    This paper presents new evidence on the impact of the preferential treatment of owner-occupied housing in Europe. We find that tax benefits to homeowners reduce the user cost of housing capital by almost 40 percent compared to the efficient level under neutral taxation. On average, the tax subsidy translates into an excess consumption of housing services equivalent to 7.8 percent of the value of owner-occupied housing, or about 30 percent of financial asset holdings in household portfolios. The bulk of the subsidies stems from under-taxation of the return to home equity, while the average contribution of the tax rebate for mortgage interest payments is driven down by relatively low loanto- value ratios in the data. However, at the margin, the tax-induced incentive to use mortgage debt to finance the purchase of the main residence is sizable.

     
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    Content information
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289928090
    Other identifier:
    hdl: 10419/175711
    Series: Working paper series / European Central Bank ; no 2087 (July 2017)
    Scope: 1 Online-Ressource (circa 35 Seiten), Illustrationen