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dc.contributor.authorAiraudo, Florencia
dc.contributor.authorPappa, Evi
dc.contributor.authorSeoane, Hernán
dc.coverage.spatialChilees_ES
dc.date.accessioned2022-12-29T22:31:04Z
dc.date.available2022-12-29T22:31:04Z
dc.date.issued2022-12-28
dc.identifier.citationAiraudo, F., Pappa, E., & Seoane, H. (2022, December 28). Greenflation: The cost of the green transition in small open economies. Retrieved from https://cafscioteca.azurewebsites.net/handle/123456789/1994en_GB
dc.identifier.urihttps://cafscioteca.azurewebsites.net/handle/123456789/1994
dc.description.tableofcontentsWe propose a new model of a small open economy with efficient energy use to investigate the inflationary dynamics along the green transition. The model incorporates the production of green energy that substitutes exogenous brown energy sources in energy production. Production is characterized by low substitutability between resource and traditional inputs that firms can alter through directed input-saving technical change. We study transitional dynamics induced by exogenous increases of brown energy prices and/or changes in the brown energy taxation; green subsidies and green public investment. Increases in brown energy prices and taxes decrease the usage of brown energy but do not expand significantly the green sector, they simply improve energy efficiency use, surging firm’s marginal costs leading to greenflation and output losses. Public investment and subsidies effectively increase the usage of green energy. Green investment expands output and reduces green energy prices as it increases the productivity of the green sector. Subsidies imply a slower transition with small output costs and elevated green energy prices. We discuss the fiscal costs and welfare implications of the transition using different welfare metrics.es_ES
dc.language.isoenes_ES
dc.subjectEnergíaes_ES
dc.subjectEvaluación de impactoes_ES
dc.subjectPolíticas públicases_ES
dc.titleGreenflation: The cost of the green transition in small open economieses_ES
dc.typeworkingPaperes_ES


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