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DTSTART:20260329T010000
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DTSTART:20261025T010000
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DTSTART;TZID=Europe/Helsinki:20260413T121500
DTEND;TZID=Europe/Helsinki:20260413T133000
DTSTAMP:20260709T193028
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SUMMARY:Thibaud HENNET (CREST) "The macroeconomic transmission of electricity supply and demand shocks"
DESCRIPTION:[vc_row][vc_column][vc_column_text]Macro seminar\nTime : 12h15 – 13h30 \nDate : 13th  April 2026 \nSalle 3001 \nThibaud HENNET (CREST) “The macroeconomic transmission of electricity supply and demand shocks” \nAbstract: : The 2021 energy crisis reignited inflation in Europe and exposed the fragility of its energy supply\, with electricity prices tripling or quadrupling in several countries within a year. Using detailed supply and demand curve data from the Spanish electricity market\, this paper identifies exogenous natural shocks and shows that conventional supply and demand shifters often contain cross-components that hinder identification. I construct synthetic instruments that outperform standard approaches in estimating price elasticities. These identified shocks are then employed in a proxy-SVAR to assess their transmission to inflation and industrial production. Finally\, two applications are examined : the Iberian exception\, which reduced inflation by about 3 percentage points\, and a counterfactual increase in wind capacity\, which points to amplified macroeconomic fluctuations with greater renewable integration \nOrganizer : Suzanne BELLUE \n
URL:https://crest.science/event/thibaud-hennet-crest-t-b-a/
CATEGORIES:Macroeconomics,Seminars
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