Exiting the Crisis in the Right Direction: A Sustainable and Shared Prosperity Plan for Europe

Spencer, Thomas A.; Chancel, Lucas; Guerin, Emmanuel

doi:10.2139/ssrn.2058200

Cited by 8 publications

(7 citation statements)

References 40 publications

(47 reference statements)

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“…First, energy price increases have both direct and indirect impacts on disposable income and household spending (i.e., the income and demand e¤ects), as they raise unemployment rates, shrink the purchasing power and squeeze pro…ts in oil importing countries at the bene…t of oil exporters. 3 This has a detrimental e¤ect on housing demand (Spencer et al, 2012). Kaufmann et al (2011) also …nd a reasonable correlation between household energy expenditure and US mortgage delinquency rates.…”

Section: Introductionmentioning

confidence: 86%

Spillovers from the oil sector to the housing market cycle

et al. 2017

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We assess the spillovers from the oil sector to the housing market cycle using quarterly data for 20 net oil exporting and importing industrial countries, and employing continuous-and discrete-time duration models. We do not uncover a statistically signi…cant di¤erence in the average duration of booms and normal times in the housing markets of those net oil importers and net oil exporters. Similarly, the degree of exposure to commodity price ‡uctuations does not seem to signi…cantly a¤ect the housing market cycle. However, we …nd that housing booms are shorter when oil prices increase. We also show that net oil importers are more vulnerable to protracted housing slump episodes than net oil exporters.

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Section: Introductionmentioning

confidence: 86%

Spillovers from the oil sector to the housing market cycle

et al. 2017

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“…The change though was cumulative and at some point a threshold was reached, energy costs becoming a sufficiently large part of household budgets that they could no longer be ignored without serious reallocations and reductions in expenditures. Spencer et al (2012), using data from the Consumer Expenditures Survey of 2011, find that in 2008 the average US household spent $2,715 for gasoline, 120% more than the $1,235 it spent in 2002. For poorer households the rise was even steeper, from $1,422 in 2003 to $3,196 in 2008.…”

Section: The Effects Of Oil Prices On the Economymentioning

confidence: 99%

“…By 2006, the rise in U.S. real estate prices peaked, perhaps through some combination of sectoral market forces and the Fed Funds rate rising from 1% in May 2005 to 5.26% in May 2007 (Spencer et al, 2012). With the subprime mortgage bubble broken, excess capital flowed towards the commodity market.…”

Section: Interest Rates Money Flows and The Oil Marketmentioning

confidence: 99%

Oil and the economy: A systematic review of the literature for ecological economists

Kallis

Sager

2017

Ecological Economics

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This article offers a systematic review of the literature in oil economics, macroeconomics (international and financial economics) and political economy, complementing and complicating the way ecological economics understands the links between oil and the economy. We look at the supply and demand factors that affect oil prices; the ways oil prices affect the economy; the effect of interest rates, capital flows and exchange rates on oil prices and extraction; and the role of (geo) politics in governing oil and money flows. We develop an illustrative system model of the causal pathways that link oil and the economy and compare alternative explanations of the oil price shocks of the 1970s and 2000s. The emphasis of ecological economics on peak oil and resource limits to growth may be relevant over the long run, but is less capable of explaining precisely how oil contributes to concrete economic short-run crises now.

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“…The narrow focus on individuals explains why, notwithstanding sustainability demands for intra and intergenerational respect, implementations have been mainly concerned what to do 'here' and 'now'. And this approach is also defended by the urgency of recovering from the environmental degradation, as well as supporting a way out from the economic crisis pressing the developed world during last years (Spencer at al., 2012). Greening the built environment has become the major commitment of all the actors involved in sustainable development.…”

Section: Interpretations Of Built Environmentmentioning

confidence: 99%

Sustainability and Cultural Capital: An Opportunity to Improve the Built Environment

Conte¹

2017

EJSD

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The quest for sustainable development in the building sector has greatly improved the sustainability of buildings through energy efficiency and use of renewable resources. However, green buildings are not the only objects in the built environment, and environmental sustainability is not the only aspect to be pursued for sustainable development. The author claims that, to improve an overall real sustainability, we need to introduce the cultural capital, which is now disregarded, in the interpretation of the built environment so that physical and temporal scales can be reconnected and continuity of the process of development can be ensured. Starting from this premise, the paper is organised into three main sections: the first represents two key interpretations of the built environment; the second discusses the limits of such interpretations through the example of sustainable buildings; the third explains why the cultural capital can be considered an opportunity to improve sustainability of the built environment.

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Exiting the Crisis in the Right Direction: A Sustainable and Shared Prosperity Plan for Europe

Cited by 8 publications

References 40 publications

Spillovers from the oil sector to the housing market cycle

Spillovers from the oil sector to the housing market cycle

Oil and the economy: A systematic review of the literature for ecological economists

Sustainability and Cultural Capital: An Opportunity to Improve the Built Environment

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