Publications of the Chair

Pricing Congestion to Increase Traffic: The Case of Bogotá

2024
Authors :
Juan-Pablo Montero, Felipe Sepúlveda, Leonardo J. Basso

In September 2020, the city of Bogotá introduced a major market-based reform to its odd-even driving restriction. The big winners of the reform are middle-income individuals who now use their cars more often, whereas the big losers are high-income individuals who now spend more time in traffic.

Cost-Benefit Analysis for Green Demonstrators: Application to the Container Glass Industry in France

2024
Authors :
Maryam Sadighi, Jean-Pierre Ponssard, Maria Eugenia Sanin, Murès Zarea, Elodie Le Cadre Loret

Adopting disruptive technologies for decarbonizing hard-to-abate industrial sectors requires experimentation through demonstration (pilot) projects. However, from an economic perspective, the potential long-term benefits and the difficulties in designing relevant public policies are not addressed in the standard valuations of those projects.

Inflation and how to deal with it in France. A policy perspective from an empirical stock-flow model

2023
Authors :
Jacques Mazier, Luis Reyes, Chin Yuan Chong

Using an empirical stock-flow consistent (SFC) model for the French economy, we simulate an imported inflationary shock to emulate the current inflation situation and analyze the resulting macroeconomic impacts on the French economy. Two possible responses are considered: increased wage per capita so as to preserve workers’ purchasing power, increased margins by firms in order to restore their...

Decarbonization with Induced Technical Change: Exploring the Niche Potential of Hydrogen in Heavy Transportation

2024
Authors :
Albin Kasser, Elodie Le Cadre Loret, Guy Meunier, Jean-Pierre Ponssard, Mures Zarea

Electric batteries and fuel cells (hydrogen) are competing technologies for the energy transition in heavy transportation. This paper shows that the existence of a market niche for fuel-cell electric buses (FCEBs) can be obtained depending on the values of a limited set of key parameters.

Car-Fuel Poverty: Determinants and Policy Implications for France

2023
Authors :
Ariane Bousquet, María Eugenia Sanin

Several European governments implemented a generalized gasoline subsidy in the face of inflation following the Ukrainian crisis. In contrast, reducing fossil fuel consumption is crucial to mitigate the current energy and climate crises. Fuel consumption for transport increases with income, making rich households the main beneficiaries of generalized subsidies. In this context, a thorough...

Mitigating greenhouse gas emissions from the cattle sector: land-use regulation as an alternative to emissions pricing

2023
Authors :
Maxence Gérard, Stéphane De Cara, Guy Meunier

The cattle sector, both emissions- and land-intensive, represents a great opportunity for mitigation through reforestation. In this paper, we study the efficiency of land-use regulation. Our analytical results indicate that the subsidy is the best alternative policy to emissions tax, provided that the elasticities of land use and emissions to cattle feeding are close. Interestingly,...

Do French firms follow a transparent or climate-friendly path?

2021
Authors :
Jeanne Amar, Samira Demaria, Sandra Rigot

Our analysis of the Climate Risks and Opportunities Index (CRORI) and the CDP climate score reveal a parallel improvement of these indices with different sectoral disparities over the 2015–2019 period. While our results are encouraging, they need to be put into perspective because these firms are still far from being carbon neutral.

Mineral Resources and the Salience of Ethnic Identities

2023
Authors :
Nicolas Berman, Mathieu Couttenier, Victoire Girard

Our findings suggest a new dimension of the natural resource curse: the fragmentation of identities, between ethnic groups and nations.

The design flaw in Sustainability-Linked Bonds

2023
Authors :
Julien Lefournier

We examine in this paper sustainability-linked bonds (SLBs) whose issuance now totals more than USD 200 bn. There is a structural design flaw in the SLB mechanism: setting a significant coupon step-up does not suit the issuer’s nor the investors’ interests, considering conditionality. This creates a no win situation for the issuer and investors alike and explains the “benign”...

Extending the limits of the abatement cost

2021
Authors :
Guy Meunier, Jean-Pierre Ponssard

The paper examines the relevant cost benefit framework for state agencies investigating the potential of local projects to mitigate climate change. We propose a new metric that incorporates into the analytical framework the dynamic interactions between the project and its continuation.