A windfall tax on the excess profits of large oil and gas companies – with the revenue rebated to households – would be an efficient way to provide temporary relief for the average household in European countries from rising energy costs.
Fiscal measures putting a cap on consumer energy prices would be a more appropriate immediate response to increased inflation in the euro area than raising interest rates.
As Russia’s invasion of Ukraine continues and many call for a strengthening of sanctions, an alternative to a full energy embargo has been discussed in the form of European Union tariffs on imports of Russian gas. We invited our European and US experts to express their views on this proposal, asking both panels whether they agree or disagree with the following statement, and, if so, how strongly and with what degree of confidence:
As Russia’s invasion of Ukraine continues and many call for a strengthening of sanctions, an alternative to a full energy embargo has been discussed in the form of European Union tariffs on imports of Russian gas. We invited our European and US experts to express their views on this proposal, asking both panels whether they agree or disagree with the following statement, and, if so, how strongly and with what degree of confidence:
In preparing for the IGM conference on THE ROLE OF ECONOMICS AND ECONOMISTS IN PUBLIC POLICY AND PUBLIC DEBATE, which was originally scheduled for April 2020, we asked the US economic experts panel these questions in February 2020. When the conference was delayed by the pandemic, we deferred releasing the results. Now that the conference is approaching (it takes place on 28-29 April 2022), we are reporting the findings.
