Aiming better: Government support for households and firms during the energy crisis:
Governments rapidly provided large support to help households and firms face the 2021-22 energy price crisis. Drawing on the OECD Energy Support Measures Tracker and country case studies, this paper documents countries' policy responses and draws lessons for enhancing countries' preparedne...
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| Main Author: | |
|---|---|
| Other Authors: | , , , , , , , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2023
|
| Series: | OECD Economic Policy Papers
no.32 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | Governments rapidly provided large support to help households and firms face the 2021-22 energy price crisis. Drawing on the OECD Energy Support Measures Tracker and country case studies, this paper documents countries' policy responses and draws lessons for enhancing countries' preparedness to future energy price shocks. Support implemented or announced by countries so far has been largely untargeted and often fiscally costly. As such it might add to inflationary pressures and in many cases reduce incentives to save energy and transition away from fossil fuels. Reliance on imported energy, technical obstacles to implement a targeted approach and political economy constraints help explain the type of support countries provided. There is now a case for withdrawing broad-based energy support, given the recent moderation in energy prices and ongoing or planned minimum-wage and welfare-benefit increases to compensate for high inflation. Digitalisation would help improve the quality of support countries can provide to face a future energy or other crisis by speeding up payment delivery and facilitating a more targeted approach based on vulnerability factors beyond low income, such as the inability to renovate an energy-inefficient home. Ensuring that support measures maintain incentives for energy savings and encourage energy diversification, combined with investments to accelerate the green transition, is key to reducing vulnerability to energy price shocks. |
| Physical Description: | 1 Online-Ressource (92 Seiten) 21 x 28cm. |
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| 520 | |a Governments rapidly provided large support to help households and firms face the 2021-22 energy price crisis. Drawing on the OECD Energy Support Measures Tracker and country case studies, this paper documents countries' policy responses and draws lessons for enhancing countries' preparedness to future energy price shocks. Support implemented or announced by countries so far has been largely untargeted and often fiscally costly. As such it might add to inflationary pressures and in many cases reduce incentives to save energy and transition away from fossil fuels. Reliance on imported energy, technical obstacles to implement a targeted approach and political economy constraints help explain the type of support countries provided. There is now a case for withdrawing broad-based energy support, given the recent moderation in energy prices and ongoing or planned minimum-wage and welfare-benefit increases to compensate for high inflation. Digitalisation would help improve the quality of support countries can provide to face a future energy or other crisis by speeding up payment delivery and facilitating a more targeted approach based on vulnerability factors beyond low income, such as the inability to renovate an energy-inefficient home. Ensuring that support measures maintain incentives for energy savings and encourage energy diversification, combined with investments to accelerate the green transition, is key to reducing vulnerability to energy price shocks. | ||
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| spelling | Hemmerlé, Yannick VerfasserIn aut Aiming better: Government support for households and firms during the energy crisis Yannick, Hemmerlé ... [et al] Paris OECD Publishing 2023 1 Online-Ressource (92 Seiten) 21 x 28cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economic Policy Papers no.32 Governments rapidly provided large support to help households and firms face the 2021-22 energy price crisis. Drawing on the OECD Energy Support Measures Tracker and country case studies, this paper documents countries' policy responses and draws lessons for enhancing countries' preparedness to future energy price shocks. Support implemented or announced by countries so far has been largely untargeted and often fiscally costly. As such it might add to inflationary pressures and in many cases reduce incentives to save energy and transition away from fossil fuels. Reliance on imported energy, technical obstacles to implement a targeted approach and political economy constraints help explain the type of support countries provided. There is now a case for withdrawing broad-based energy support, given the recent moderation in energy prices and ongoing or planned minimum-wage and welfare-benefit increases to compensate for high inflation. Digitalisation would help improve the quality of support countries can provide to face a future energy or other crisis by speeding up payment delivery and facilitating a more targeted approach based on vulnerability factors beyond low income, such as the inability to renovate an energy-inefficient home. Ensuring that support measures maintain incentives for energy savings and encourage energy diversification, combined with investments to accelerate the green transition, is key to reducing vulnerability to energy price shocks. Economics Sunel, Enes MitwirkendeR ctb D'Arcangelo, Filippo Maria MitwirkendeR ctb Kruse, Tobias MitwirkendeR ctb Haugh, David MitwirkendeR ctb Pina, Álvaro MitwirkendeR ctb Pisu, Mauro MitwirkendeR ctb Castle, Cassandra MitwirkendeR ctb Sarcina, Giuliana MitwirkendeR ctb |
| spellingShingle | Hemmerlé, Yannick Aiming better: Government support for households and firms during the energy crisis Economics |
| title | Aiming better: Government support for households and firms during the energy crisis |
| title_auth | Aiming better: Government support for households and firms during the energy crisis |
| title_exact_search | Aiming better: Government support for households and firms during the energy crisis |
| title_full | Aiming better: Government support for households and firms during the energy crisis Yannick, Hemmerlé ... [et al] |
| title_fullStr | Aiming better: Government support for households and firms during the energy crisis Yannick, Hemmerlé ... [et al] |
| title_full_unstemmed | Aiming better: Government support for households and firms during the energy crisis Yannick, Hemmerlé ... [et al] |
| title_short | Aiming better: Government support for households and firms during the energy crisis |
| title_sort | aiming better government support for households and firms during the energy crisis |
| topic | Economics |
| topic_facet | Economics |
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