000319781 001__ 319781
000319781 005__ 20220610155908.0
000319781 0247_ $$2doi$$a10.22004/ag.econ.319781
000319781 037__ $$a2395-2022-420
000319781 041__ $$aeng
000319781 084__ $$aE37
000319781 084__ $$aE61
000319781 084__ $$aE62
000319781 084__ $$aQ43
000319781 084__ $$aQ54
000319781 084__ $$aC30
000319781 245__ $$aBesides promising economic growth, will the Italian NRRP also produce fewer emissions?
000319781 260__ $$c2022-02-28
000319781 269__ $$a2022-02-28
000319781 300__ $$a36
000319781 336__ $$aWorking or Discussion Paper
000319781 490__ $$a8.2022
000319781 520__ $$aThe funds allocated by the National Recovery and Resilience Plan (NRRP) aim to trigger a multiplier effect on GDP as they are designed to help the recovery after the Covid-19 pandemic. The GDP increase is in turn expected to drive energy consumption up which will increase CO2 emissions, given that fossil fuels still account for 79% of the Italian total primary energy consumption. At the same time, as the NRRPs are part of the EU Green Deal, an important share of the Plan’s investments is aimed at facilitating the green transition, with expected favorable effects on emissions. Which one of these two effects will prevail remains to be ascertained. In this study we have used the GEM (Global Economic Model) by Oxford Economics to build a number of scenarios and generate the relevant simulations aimed at assessing the impact of the Italian NRRP’s interventions on energy consumption and CO2 emissions. To validate the use of GEM we extensively considered the macroeconomic impact on GDP and unemployment rate generated by the model and compare the results to those presented by other institutions and obtained using different models. The results show that when the green investments of the NRRP display their effects, there are climatic benefits in terms of reduced emissions. Compared to the implementation of the NRRP in 2021, however, the reduction in emissions by 2030 is modest and equal to 5%. As those investments largely refer to the adoption of clean technologies, the climate benefits are likely to be more substantial only in subsequent years and over longer horizons. Update: June 2022
000319781 546__ $$aEnglish
000319781 650__ $$aFinancial Economics
000319781 650__ $$aPolitical Economy
000319781 650__ $$aProduction Economics
000319781 6531_ $$aNational Recovery and Resilience Plan
000319781 6531_ $$aCO2 emissions
000319781 6531_ $$aLarge-scale macroeconomic model
000319781 6531_ $$aPost-Covid recovery
000319781 700__ $$aRomani, Ilenia
000319781 700__ $$aGaleotti, Marzio
000319781 700__ $$aLanza, Alessandro
000319781 8560_ $$femanuela.ragnolini@feem.it
000319781 8564_ $$97e45f1a2-22d0-4cf7-939f-fe96f879e15d$$s2270705$$uhttps://ageconsearch.umn.edu/record/319781/files/ndl08-2022-LV.pdf
000319781 909CO $$ooai:ageconsearch.umn.edu:319781$$pGLOBAL_SET
000319781 913__ $$aBy depositing this Content ('Content') in AgEcon Search, I agree that  I am solely responsible for any consequences of uploading this Content to AgEcon Search and making it publicly available, and I represent and warrant that: I am either the sole creator and the owner of the copyrights and all other rights in the Content; or, without obtaining another’s permission, I have the right to deposit the Content in an archive such as AgEcon Search. To the extent that any portions of the Content are not my own creation, they are used with the copyright holder’s express permission or as permitted by law. Additionally, the Content does not infringe the copyrights or other intellectual property rights of another, nor does the Content violate any laws or another’s rights of privacy or publicity. The Content contains no restricted, private, confidential, or otherwise protected data or information that should not be publicly shared. I understand that AgEcon Search will do its best to provide perpetual access to my Content. In order to support these efforts, I grant the Regents of the University of Minnesota ('University'), through AgEcon Search, the following non-exclusive, irrevocable, royalty-free, world-wide rights and licenses: to access, reproduce, distribute and publicly display the Content, in whole or in part, in order to secure, preserve and make it publicly available, and to make derivative works based upon the Content in order to migrate the Content to other media or formats, or to preserve its public access. These terms do not transfer ownership of the copyright(s) in the Content. These terms only grant to the University the limited license outlined above.
000319781 980__ $$a2395