<div class="csl-bib-body">
<div class="csl-entry">Böhl, G., Budianto, F., & Takáts Elöd. (2025, April 29). <i>The Macroeconomics of Green Transitions</i> [Presentation]. Final Presentation Workshop of OeNB-funded projects 18611 and 18646, Wien, Austria. http://hdl.handle.net/20.500.12708/217315</div>
</div>
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dc.identifier.uri
http://hdl.handle.net/20.500.12708/217315
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dc.description.abstract
The paper investigates the macroeconomics of an energy transition – a shift from brown to
green energy production through carbon taxation. Using a medium-scale DSGE model with
energy production sectors and endogenous innovation in the green energy sector, we show that
an energy transition – initiated through a brown energy tax – resembles a large supply side
shock, causing a surge in inflation and energy prices and a decline in consumption. Innovation
increases the efficiency of green energy production and drives energy prices down in the medium
run. We document that monetary policy plays a critical role for the dynamics and pace of the
transition, even if the transition is not explicitly part of the policy rule. A monetary policy with
less emphasis on inflation stabilization allows for temporarily higher inflation and energy prices,
which boosts R&D and innovation, enhancing welfare and accelerating the transition.
en
dc.description.sponsorship
Österreichische Nationalbank, Jubiläumsfonds
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dc.language.iso
en
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dc.subject
Energy trasition
en
dc.subject
innovation
en
dc.subject
monetary policy
en
dc.subject
infloation dynamics
en
dc.title
The Macroeconomics of Green Transitions
en
dc.type
Presentation
en
dc.type
Vortrag
de
dc.contributor.affiliation
University of Bonn, Germany
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dc.relation.grantno
18611
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dc.type.category
Presentation
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tuw.project.title
Should central banks modify their inflation targeting framework when agents are boundedly rational?
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tuw.researchTopic.id
A4
-
tuw.researchTopic.id
C6
-
tuw.researchTopic.name
Mathematical Methods in Economics
-
tuw.researchTopic.name
Modeling and Simulation
-
tuw.researchTopic.value
70
-
tuw.researchTopic.value
30
-
tuw.publication.orgunit
E105-03 - Forschungsbereich Ökonomie
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tuw.event.name
Final Presentation Workshop of OeNB-funded projects 18611 and 18646
en
tuw.event.startdate
29-04-2025
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tuw.event.enddate
29-04-2025
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tuw.event.online
Hybrid
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tuw.event.type
Event for scientific audience
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tuw.event.place
Wien
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tuw.event.country
AT
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tuw.event.institution
TU Wien
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tuw.event.presenter
Budianto, Flora
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tuw.presentation.online
Online
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wb.sciencebranch
Wirtschaftswissenschaften
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wb.sciencebranch.oefos
5020
-
wb.sciencebranch.value
100
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item.openairecristype
http://purl.org/coar/resource_type/R60J-J5BD
-
item.fulltext
no Fulltext
-
item.cerifentitytype
Publications
-
item.languageiso639-1
en
-
item.openairetype
conference presentation
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item.grantfulltext
none
-
crisitem.author.dept
University of Bonn, Germany
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crisitem.author.dept
E105-03 - Forschungsbereich Ökonomie
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crisitem.author.parentorg
E105 - Institut für Stochastik und Wirtschaftsmathematik
