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| 2. |
- Andersson, Fredrik N G, et al.
(författare)
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The firms’ integration process of the twin pillars of environmental sustainability: climate change and biodiversity loss
- 2024
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This study examines the integration of climate change and biodiversity into business strategies and governance structures of listed firms on the Swedish stock exchange NasdaqOMX Large Cap. The results show clear disparities in the level of integration and the factors driving the integration process. All, but a few small firms, have integrated climate change into business strategies, and are ahead in the process of integrating it into governance structures. Biodiversity integration is lagging behind the integration of climate change. We also find that the integration process depends on the sustainability competences within the board unlike climate change when the board composition is less important. Additionally, our results show that firms require external pressures from, e.g., regulations to integrate biodiversity and climate change into business strategies and governance structures.
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| 4. |
- Andersson, Fredrik N G, et al.
(författare)
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The Risks of Adopting the Bond Yield as the Anchor for the EU Fiscal Framework
- 2022
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- The EU’s fiscal rules, set out in the Maastricht Treaty of 1993 and the Stability and Growth Pact of 1997, are anchored to GDP. The debt ceiling and the deficit threshold are set to 60 percent and 3 percent of GDP, respectively. Recently, prominent economists and policymakers, have argued that that the debt ceiling should be raised due to falling bond yields. By extension, this argument suggests a shift from GDP anchoring to bond yield anchoring of the EU fiscal framework. We discuss the risks of basing the fiscal rules on the bond yield rather than on the GDP. While such a change would provide short-run relief to highly indebted EU member states, it implies high long-run risks to fiscal sustainability should bond yields rise in the future. We conclude that GDP serves as a better anchor for the EU fiscal framework than the bond rate under present circumstances.
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| 5. |
- Andersson, Fredrik N G
(författare)
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A Scenario Analysis of the Potential Effects of Decarbonization on the Profitability of the Energy-Intensive and Natural-Resource-Based Industries
- 2021
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- The decarbonization of the energy-intensive and natural-resourced-based industries is associated with large economic costs. In this paper, I explore how decarbonization may affect the profitability and market value of these industries and their ability to attract capital to fund their decarbonization. I also discuss the possibility of compensating for the investment costs through higher prices and enhanced productivity. I answer these questions using scenario analysis with a focus on the industries in the European Union and the United States. I find that the effects on profitability are likely to be modest despite relatively high investment costs.
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| 6. |
- Andersson, Fredrik N G, et al.
(författare)
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A Study of the Romer and Romer Monetary Policy Shocks Using Revised Data
- 2021
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Romer and Romer (2004) propose a simple method to estimate monetary policy shocks using forecasts and real-time data. However, such data is not always (publicly) available, especially in a historical context. We explore the consequences of using revised data instead of the original forecast and real-time data when estimating policy shocks using the Romer and Romer framework. To this end, we estimate policy shocks for the same period as Romer and Romer. We find that using revised data has little impact on actual shock estimates, and the estimated effects of monetary policy shocks are similar.
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| 8. |
- Andersson, Fredrik N G
(författare)
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Economic Inequality and the Ecological Footprint: Time-Varying Estimates for the United States and France, 1962–2021
- 2023
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This paper studies the nexus between income and wealth inequality, and the ecological footprint in the United States and France from 1962 to 2021. Based on theoretical considerations, we allow the relationship to vary over time. We find some support for income inequality affecting the ecological footprint in the United States and that the relationship has changed over time. We find no such result for France, nor do we find a significant impact of wealth inequality. We conclude that the relationship between inequality and the environment is likely weak as well as time and context dependent.
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| 9. |
- Andersson, Fredrik N G
(författare)
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Estimates of the inflation effect of a global carbon price on consumer, investment, export, and import prices
- 2018
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This paper considers the potential inflation effects of a global carbon price on consumer prices, investment prices, export prices, and import prices. We estimate the effects under three different scenarios. The results clearly indicate that the inflation effects in developed countries of a 100 USD/ton carbon price are small. For developing countries, the inflation effect is larger and potentially too large for it to be politically feasible to introduce a global carbon price. However, a simple adjustment of the price based on the price level in each country equalizes the inflation effects across all countries, whereby a global carbon price is more likely to be implemented.
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| 10. |
- Andersson, Fredrik N G, et al.
(författare)
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European Stabilization Policy After the Covid-19 Pandemic: More Flexible Integration or More Federalism?
- 2022
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Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- Crises are a major driving force behind cooperation in the European Union. This holds also for monetary and fiscal policy. During severe crises, cooperation has been enlarged and intensified. The recent covid-19 pandemic is a clear example of this pattern. The pandemic has had huge impact on the conduct of stabilization policies in the EU. Public debt has grown rapidly in many EU member states. The ECB has carried out a highly expansionary monetary policy. In this paper, we discuss the implications for the EU of a move towards increased fiscal federalism following the pandemic. First, the role of crises as a driver of political change is analysed. Next, we examine in greater detail, the effect of crises on the design of stabilisation policies in the EU since the introduction of the euro, the common currency. Finally, we discuss the significance of the recent pandemic-induced steps towards increased federalism for the EU. We raise the question as to whether this is a desirable path for the future of European cooperation.
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