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External Publication

LNG and Nord Stream 2 in the context of uncertain gas import demand from the EU

Georg Zachmann sees the development of import demand for natural gas in the EU as uncertain. In case of strongly increasing import demand, both Nord Stream 2 and liquified natural gas imports could contribute to ensure European supply.

By: Date: September 27, 2018 Topic: Energy & Climate

 With falling demand, the EU does not need new import lines. Gas import demand will very much depend on political decisions: many business-as-usual scenarios foresee increasing gas import demand; however, all scenarios that implement the requirements of the Paris Climate Agreement lead to a dramatic drop in the demand for natural gas.

The commissioning of Nord Stream 2 could allow Russia to selectively supply individual member states and potentially empower Gazprom to increase its profits at the expense of ist Eastern European consumers.

Therefore, it would be in the common interest of the EU to find a way to postpone the decision on the construction of Nord Stream 2 until there is more clarity on whether additional imports are really needed.

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Blog Post

Making sure green household investment pays off

Policies are needed to support green fuel switching by households; support should be phased out as the carbon price rises.

By: Ben McWilliams and Georg Zachmann Topic: Energy & Climate Date: July 19, 2021
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External Publication

The Value of Money, Controversial Economic Cultures in Europe: Italy and Germany

A discussion of Italian and German macro-economic cultures and performances.

By: Francesco Papadia Topic: European Macroeconomics & Governance Date: June 10, 2021
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Blog Post

Inflation!? Germany, the euro area and the European Central Bank

There is concern in Germany about rising prices, but expectations and wage data show no sign of excess pressures; German inflation should exceed 2% to support euro-area rebalancing but is unlikely to do so on sustained basis.

By: Guntram B. Wolff Topic: European Macroeconomics & Governance Date: June 9, 2021
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Podcast

Podcast

Belarus: a test for Europe’s foreign policy?

The forced landing of an internal EU flight is just the latest development in the President of Belarus’ efforts to cling to power.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: June 1, 2021
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Past Event

Past Event

An alpine divide? Comparing economic cultures in Germany and Italy

A discussion of Italian and German macro-economic cultures and performances.

Speakers: Thomas Mayer, Patricia Mosser, Marianne Nessén, Hiroshi Nakaso, Francesco Papadia, André Sapir and Jean-Claude Trichet Topic: European Macroeconomics & Governance Date: April 13, 2021
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Blog Post

How to extend carbon pricing beyond the comfort zone

Rapid emission cuts need a carbon price for the whole economy. This must be introduced in careful stages. 

By: Georg Zachmann Topic: Energy & Climate Date: April 1, 2021
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Policy Contribution

Navigating through hydrogen

Policymakers must address the need to displace carbon-intensive hydrogen with low-carbon hydrogen, and incentivise the uptake of hydrogen as a means to decarbonise sectors with hard-to-reduce emissions.

By: Ben McWilliams and Georg Zachmann Topic: Energy & Climate Date: April 1, 2021
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Past Event

Past Event

A new carbon pricing paradigm for the path to net zero

Which role carbon pricing could and should play in the future policy mix?

Speakers: Ottmar Edenhofer, Peter Liese, Sam Van den Plas, Beatriz Yordi Aguirre and Georg Zachmann Topic: Energy & Climate Date: March 9, 2021
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Policy Contribution

A whole-economy carbon price for Europe and how to get there

Putting carbon pricing at the centre of the EU climate policy architecture would provide major benefits. Obtaining these benefits requires a uniform, credible and durable carbon price – the economic first-best solution, however, several preconditions required to attain this solution are not yet met. This paper proposes a sequenced approach to ensure convergence of the policy mix on the first-best in the long run.

By: Ottmar Edenhofer, Mirjam Kosch, Michael Pahle and Georg Zachmann Topic: Energy & Climate Date: March 9, 2021
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Past Event

Past Event

Paris Reinforce: Central Asia and Caspian region Stakeholder Discussion Series #2

Second edition of the Paris Reinforce workshop with focus on Central Asian and Caspian (CAC) region.

Speakers: Gabriele Cassetti, Haris Doukas, Rocco De Miglio and Georg Zachmann Topic: Energy & Climate Date: March 2, 2021
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Working Paper

COVID-19 credit-support programmes in Europe’s five largest economies

This paper assesses COVID-19 credit-support programmes in five of the largest European economies, and examines how countries have dealt with trade-offs raised by the programmes.

By: Julia Anderson, Francesco Papadia and Nicolas Véron Topic: European Macroeconomics & Governance Date: February 24, 2021
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Blog Post

Has the European Union squandered its coronavirus vaccination opportunity?

The European Union’s purchases of frontrunner coronavirus vaccines are insufficient for the population’s near-term needs. The shortfall could have healthcare consequences and might delay economic reopening. Lessons should be learned for future pandemics.

By: J. Scott Marcus Topic: Innovation & Competition Policy Date: January 6, 2021
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