Creative Destruction During Crises : An Opportunity for a Cleaner Energy Mix /

Lockdowns resulting from the COVID-19 pandemic have reduced overall energy demand but electricity generation from renewable sources has been resilient. While this partly reflects the trend increase in renewables, the empirical analysis presented in this paper highlights that recessions result in a p...

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Bibliographic Details
Main Author: Deb, Pragyan
Other Authors: Furceri, Davide, Ostry, Jonathan, Tawk, Nour
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2021.
Series:IMF Working Papers; Working Paper ; No. 2021/284
Subjects:
Online Access:Full text available on IMF
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245 1 0 |a Creative Destruction During Crises :   |b An Opportunity for a Cleaner Energy Mix /  |c Pragyan Deb, Davide Furceri, Jonathan Ostry, Nour Tawk. 
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520 3 |a Lockdowns resulting from the COVID-19 pandemic have reduced overall energy demand but electricity generation from renewable sources has been resilient. While this partly reflects the trend increase in renewables, the empirical analysis presented in this paper highlights that recessions result in a permanent, albeit small, increase in energy efficiency and in the share of renewables in total electricity. These effects are stronger in the case of advanced economies and when complemented with environment and energy policies-both market-based measures such as taxes on pollutants, trading schemes and feed-in-tariffs, as well as non-market measures such as emission and fuel standards and R and D investment and subsidies-to incentivize and hasten the transition towards renewable sources of energy. 
538 |a Mode of access: Internet 
650 7 |a Business Fluctuations  |2 imf 
650 7 |a Cycles  |2 imf 
650 7 |a Economic Development  |2 imf 
650 7 |a Financial Crises  |2 imf 
650 7 |a Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook  |2 imf 
700 1 |a Furceri, Davide. 
700 1 |a Ostry, Jonathan. 
700 1 |a Tawk, Nour. 
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