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Energy crisis and inequality: a dual approach to assess fiscal policy effectiveness

Di Tommaso, Chiara Alessandra
(2023)

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DiTommaso_06262200_2023.pdf
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DiTommaso_06262200_2023APPENDIX.pdf
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Details

Supervisors
Pensieroso, Luca ; Hindriks, Jean
Faculty
Faculté des sciences économiques, sociales, politiques et de communication
Degree label
Master [120] en sciences économiques, orientation économétrie, à finalité approfondie
Abstract
Looking at the current situation in Europe, characterized by the prosecution of the war, the energy crisis, and high inflation, this research paper will tackle the effect of an energy supply shock on inequality and evaluate a possible fiscal policy response. Firstly, a model will be designed with the energy production sector and heterogeneous agents. This allows the study of the transmission mechanism of the shock and the unequal impact that it has on households, that differ for their marginal propensity to consume and energy expenditure share. Through this framework, it will also be possible to assess the outcome of the value-added tax (VAT) cut on electricity prices, implemented by the Belgian government to mitigate the effects of the crisis. Secondly, using the data on electricity prices in Belgium for 2017-2022, will be possible to estimate the pass-through rate of the VAT cut on consumers' prices, and consequently assess the effectiveness of this fiscal policy.