The paper “The Climate Policy Hold-Up” by Timo Goeschl and Grischa Perino has been accepted for publication in the Scandinavian Journal of Economics.

The paper “The Sopranos Redux: The Empirical Economics of Waste Crime” by Christian Almer and Timo Goeschl has been published in the most recent issue of Regional Studies.



Johannes Lohse successfully defended his dissertation with the title Five Essays on Cooperation, with an Application to Climate Change Mitigation on Sept. 28, 2015. The external examiner was Fredrik Carlsson from Gothenburg University.



Das neue Programm der öffentlichen Reihe "Heidelberger Brücke" des HCE für ist da. Sie finden das Programm hier.



The next  FZU-ZEW EnvEcon Monthly Brownbag will take place Tuesday, January 19, 12:30 to 14:00 in the Seminar Room (room # 215) FZU, Bergheimer Str. 20, 69115 Heidelberg.

Title: Traffic Jam on the Path for Green Growth: the Macroeconomics of Sectoral Climate Policies

Presenter: Claudio Baccianti


In this paper I highlight a necessary condition for green growth and propose a novel approach to estimate the aggregate elasticity between clean and dirty inputs. In the presence of multiple energy demands, e.g. electricity, transportation, non-energy use and heating, the aggregate elasticity between clean and dirty inputs is not exogenous and constant over time as commonly assumed, but depends on the energy demand structure. Taking into account the endogeneity of this macro elasticity leads to contrast previous findings and the conditions for climate policy to decouple the use of dirty inputs from economic growth are more restrictive. I show that in a directed technical change model with multiple energy demands the aggregate elasticity can be lower than previously assumed even if good substitution between clean and dirty inputs holds at the microeconomic level. Because of the lack of good quality data for levels of prices of clean input aggregates across and within countries, I propose a novel methodology to estimate this elasticity that does not require data on factor shares. The elasticity is estimated from the response of the profitability of energy technology firms, e.g. manufacturers of wind turbines and oil companies, to changes in the relative shares of clean and dirty inputs in total primary energy supply. As these producers are operating at a global scale, this approach allows estimating a world-level elasticity of substitution. The estimated elasticity feeds into the model calibration and the model is used to show that if clean technologies spread at a slower pace in transportation and industrial processes than in electricity generation and heating, even permanent clean research subsidies are not able to make economic growth sustainable. The striking result is that the policy is ineffective even if good substitution between clean and dirty inputs holds at the microeconomic level.

All interested persons are welcome!



  • Sprechstunde Prof. Goeschl: Dienstags 17.00 - 18.00 Uhr. Bitte einen Termin per Email ( vereinbaren.
  • Informationen zum Thema "Klausureinsicht" finden Sie hier 


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