Targeted, Implementable, and Practical Energy Relief Measures for Households in Europe

Released on by Mr. Nicolas Arregui
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  • Targeted, Implementable, and Practical Energy Relief Measures for Households in Europe Book Detail

  • Author : Mr. Nicolas Arregui
  • Release Date : 2022-12-16
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 24
  • ISBN 13 :
  • File Size : 77,77 MB
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Targeted, Implementable, and Practical Energy Relief Measures for Households in Europe by Mr. Nicolas Arregui PDF Summary

Book Description: The recommended way of helping households during the ongoing European energy crisis is to allow price signals to operate freely while providing targeted compensation to the vulnerable. In practice, however, institutional, political, and technical constraints have led many European governments to adopt broad, price-suppressing measures, which impede the adjustment in demand, have high fiscal costs, and widen cross-country gaps in prices. This paper focuses on easy-to-implement, second-best policies. Bonuses or rebates on energy bills (that are not linked to the current volume of consumption) or block tariffs are simple options which would improve on the current policy design in many countries. To avoid stoking inflation, fiscal policy should not add to aggregate demand, so relief for energy bills should be targeted and coupled with offsetting fiscal measures. One option is to reclaim the relief from the better-off through income taxation, which would also make support more progressive.

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Addressing Interconnectedness

Addressing Interconnectedness

File Size : 58,58 MB
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This paper reviews tools used to identify and measure interconnectedness and raises the awareness of policymakers as to potential cross-sectional implications o