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  1. Article: Akter, Sonia; Bennett, Jeff: Valuing climate change mitigation, applying stated preferences in the presence of uncertainty : Cheltenham [u.a.], Elgar, 2012 / [rezensiert von:] Carlo Fezzi

    Fezzi, Carlo / Akter, Sonia / Bennett, Jeff*1954-*

    Journal of economic literature Bd. LII.2014, 1 (March), S. 242-243

    2014  

    Language English
    Publisher Assoc
    Publishing place Nashville, Tenn
    Document type Article
    ZDB-ID 3076-4 ; 2010159-4
    ISSN 0022-0515
    ISSN 0022-0515
    Database ECONomics Information System

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  2. Article: Tracking GDP in real-time using electricity market data: Insights from the first wave of COVID-19 across Europe.

    Fezzi, Carlo / Fanghella, Valeria

    European economic review

    2021  Volume 139, Page(s) 103907

    Abstract: This paper develops a methodology for tracking in real-time the impact of shocks (such as natural disasters, financial crises or pandemics) on gross domestic product (GDP) by analyzing high-frequency electricity market data. As an illustration, we ... ...

    Abstract This paper develops a methodology for tracking in real-time the impact of shocks (such as natural disasters, financial crises or pandemics) on gross domestic product (GDP) by analyzing high-frequency electricity market data. As an illustration, we estimate the GDP loss caused by COVID-19 in twelve European countries during the first wave of the pandemic. Our results are almost indistinguishable from the official statistics during the first two quarters of 2020 (the correlation coefficient is 0.98) and are validated by several robustness tests. We provide estimates that are more chronologically disaggregated and up-to-date than standard macroeconomic indicators and, therefore, can provide timely information for policy evaluation in time of crisis. Our results show that pursuing "herd immunity" did not shelter from the harmful economic impacts of the first wave of the pandemic. They also suggest that coordinating policies internationally is fundamental for minimizing spillover effects from non-pharmaceutical interventions across countries.
    Language English
    Publishing date 2021-09-11
    Publishing country Netherlands
    Document type Journal Article
    ZDB-ID 1460589-2
    ISSN 1873-572X ; 0014-2921
    ISSN (online) 1873-572X
    ISSN 0014-2921
    DOI 10.1016/j.euroecorev.2021.103907
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  3. Article: Real-Time Estimation of the Short-Run Impact of COVID-19 on Economic Activity Using Electricity Market Data.

    Fezzi, Carlo / Fanghella, Valeria

    Environmental & resource economics

    2020  Volume 76, Issue 4, Page(s) 885–900

    Abstract: In response to the COVID-19 emergency, many countries have introduced a series of social-distancing measures including lockdowns and businesses' shutdowns, in an attempt to curb the spread of the infection. Accordingly, the pandemic has been generating ... ...

    Abstract In response to the COVID-19 emergency, many countries have introduced a series of social-distancing measures including lockdowns and businesses' shutdowns, in an attempt to curb the spread of the infection. Accordingly, the pandemic has been generating unprecedented disruption on practically every aspect of society. This paper demonstrates that high-frequency electricity market data can be used to estimate the causal, short-run impacts of COVID-19 on the economy, providing information that is essential for shaping future lockdown policy. Unlike official statistics, which are published with a delay of a few months, our approach permits almost real-time monitoring of the economic impact of the containment policies and the financial stimuli introduced to address the crisis. We illustrate our methodology using daily data for the Italian day-ahead power market. We estimate that the 3 weeks of most severe lockdown reduced the corresponding Italian Gross Domestic Product (GDP) by roughly 30%. Such negative impacts are now progressively declining but, at the end of June 2020, GDP is still about 8.5% lower than it would have been without the outbreak.
    Keywords covid19
    Language English
    Publishing date 2020-08-04
    Publishing country Netherlands
    Document type Journal Article
    ZDB-ID 1479788-4
    ISSN 1573-1502 ; 0924-6460
    ISSN (online) 1573-1502
    ISSN 0924-6460
    DOI 10.1007/s10640-020-00467-4
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  4. Article ; Online: The economic value of coral reefs: Climate change impacts and spatial targeting of restoration measures

    Fezzi, Carlo / Ford, Derek J. / Oleson, Kirsten L.L.

    Ecological Economics. 2023 Jan., v. 203 p.107628-

    2023  

    Abstract: We develop a travel-cost random utility model to estimate the value of recreational ecosystem services provided by more than 170 outdoor sites located on the island of Maui (Hawaii, USA). Particular emphasis is placed on the role of coastal ecosystems by ...

    Abstract We develop a travel-cost random utility model to estimate the value of recreational ecosystem services provided by more than 170 outdoor sites located on the island of Maui (Hawaii, USA). Particular emphasis is placed on the role of coastal ecosystems by combining recent fine-scale data on coral cover and fish biomass with information on almost 3000 recreation trips taken by Maui's residents. Our approach is grounded in economic theory and provides estimates that are directly applicable to inform a wide array of coastal management questions. Our results show that the 2014–2015 coral bleaching event caused losses in the order of $25 M per year to Maui's residents. We also identify the areas where coral reef restoration would maximize welfare gains. Impacts can vary up to a factor of 1000 across locations, demonstrating the need to carefully consider such heterogeneity in spatial prioritization. Our simulations also show how access fees or green taxes can raise funds for financing conservation measures aimed at bolstering coral reefs resilience to climate change.
    Keywords Maui ; biomass ; climate change ; coastal zone management ; coral reefs ; corals ; ecological economics ; economic theory ; economic valuation ; ecosystems ; fish ; models ; prioritization ; recreation ; Ecosystem services ; Travel cost method ; Coastal management
    Language English
    Dates of publication 2023-01
    Publishing place Elsevier B.V.
    Document type Article ; Online
    ISSN 0921-8009
    DOI 10.1016/j.ecolecon.2022.107628
    Database NAL-Catalogue (AGRICOLA)

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  5. Article: Real-Time Estimation of the Short-Run Impact of COVID-19 on Economic Activity Using Electricity Market Data

    Fezzi, Carlo / Fanghella, Valeria

    Environmental and resource economics. 2020 Aug., v. 76, no. 4

    2020  

    Abstract: In response to the COVID-19 emergency, many countries have introduced a series of social-distancing measures including lockdowns and businesses’ shutdowns, in an attempt to curb the spread of the infection. Accordingly, the pandemic has been generating ... ...

    Abstract In response to the COVID-19 emergency, many countries have introduced a series of social-distancing measures including lockdowns and businesses’ shutdowns, in an attempt to curb the spread of the infection. Accordingly, the pandemic has been generating unprecedented disruption on practically every aspect of society. This paper demonstrates that high-frequency electricity market data can be used to estimate the causal, short-run impacts of COVID-19 on the economy, providing information that is essential for shaping future lockdown policy. Unlike official statistics, which are published with a delay of a few months, our approach permits almost real-time monitoring of the economic impact of the containment policies and the financial stimuli introduced to address the crisis. We illustrate our methodology using daily data for the Italian day-ahead power market. We estimate that the 3 weeks of most severe lockdown reduced the corresponding Italian Gross Domestic Product (GDP) by roughly 30%. Such negative impacts are now progressively declining but, at the end of June 2020, GDP is still about 8.5% lower than it would have been without the outbreak.
    Keywords COVID-19 infection ; economic impact ; electricity ; gross domestic product ; issues and policy ; markets ; pandemic ; society ; statistics
    Language English
    Dates of publication 2020-08
    Size p. 885-900.
    Publishing place Springer Netherlands
    Document type Article
    Note NAL-AP-2-clean
    ZDB-ID 1479788-4
    ISSN 1573-1502 ; 0924-6460
    ISSN (online) 1573-1502
    ISSN 0924-6460
    DOI 10.1007/s10640-020-00467-4
    Database NAL-Catalogue (AGRICOLA)

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  6. Article ; Online: Real-Time Estimation of the Short-Run Impact of COVID-19 on Economic Activity Using Electricity Market Data

    Fezzi, Carlo / Fanghella, Valeria

    2020  

    Keywords covid19
    Language English
    Publishing country it
    Document type Article ; Online
    Database BASE - Bielefeld Academic Search Engine (life sciences selection)

    Full text online

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    Inter-library loan at ZB MED

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  7. Article ; Online: Real-Time Estimation of the Short-Run Impact of COVID-19 on Economic Activity Using Electricity Market Data

    Fezzi, Carlo / Fanghella, Valeria

    Environmental and Resource Economics

    2020  Volume 76, Issue 4, Page(s) 885–900

    Keywords Economics and Econometrics ; Management, Monitoring, Policy and Law ; Aerospace Engineering ; covid19
    Language English
    Publisher Springer Science and Business Media LLC
    Publishing country us
    Document type Article ; Online
    ZDB-ID 1479788-4
    ISSN 1573-1502 ; 0924-6460
    ISSN (online) 1573-1502
    ISSN 0924-6460
    DOI 10.1007/s10640-020-00467-4
    Database BASE - Bielefeld Academic Search Engine (life sciences selection)

    Full text online

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  8. Article: Real-Time Estimation of the Short-Run Impact of COVID-19 on Economic Activity Using Electricity Market Data

    Fezzi, Carlo / Fanghella, Valeria

    Environ Resour Econ (Dordr)

    Abstract: In response to the COVID-19 emergency, many countries have introduced a series of social-distancing measures including lockdowns and businesses' shutdowns, in an attempt to curb the spread of the infection. Accordingly, the pandemic has been generating ... ...

    Abstract In response to the COVID-19 emergency, many countries have introduced a series of social-distancing measures including lockdowns and businesses' shutdowns, in an attempt to curb the spread of the infection. Accordingly, the pandemic has been generating unprecedented disruption on practically every aspect of society. This paper demonstrates that high-frequency electricity market data can be used to estimate the causal, short-run impacts of COVID-19 on the economy, providing information that is essential for shaping future lockdown policy. Unlike official statistics, which are published with a delay of a few months, our approach permits almost real-time monitoring of the economic impact of the containment policies and the financial stimuli introduced to address the crisis. We illustrate our methodology using daily data for the Italian day-ahead power market. We estimate that the 3 weeks of most severe lockdown reduced the corresponding Italian Gross Domestic Product (GDP) by roughly 30%. Such negative impacts are now progressively declining but, at the end of June 2020, GDP is still about 8.5% lower than it would have been without the outbreak.
    Keywords covid19
    Publisher WHO
    Document type Article
    Note WHO #Covidence: #724425
    Database COVID19

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  9. Article: Real-time tracking of COVID-19 impacts across Europe reveals that seeking"herd immunity"provides no economic benefits

    Fezzi, Carlo / Fanghella, Valeria

    Abstract: This paper develops a methodology for tracking in real time the impact of the COVID-19 pandemic on economic activity by analyzing high-frequency electricity market data. The approach is validated by several robustness tests and by contrasting our ... ...

    Abstract This paper develops a methodology for tracking in real time the impact of the COVID-19 pandemic on economic activity by analyzing high-frequency electricity market data. The approach is validated by several robustness tests and by contrasting our estimates with the official statistics on the recession caused by COVID-19 in different European countries during the first two quarters of 2020. Compared with the standard indicators, our results are much more chronologically disaggregated and up-to-date and, therefore, can inform the current debate on the appropriate policy response to the pandemic. Unsurprisingly, we find that nations that experienced the most severe initial outbreaks also grappled with the hardest economic recessions. However, we detect diffused signs of recovery, with economic activity in most European countries returning to its pre-pandemic level by August 2020. Furthermore, we show how delaying intervention or pursuing 'herd immunity' are not successful strategies, since they increase both economic disruption and mortality. The most effective short-run strategy to minimize the impact of the pandemic appears to be the introduction of early and relatively less stringent non-pharmaceutical interventions.
    Keywords covid19
    Publisher ArXiv
    Document type Article
    Database COVID19

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  10. Book ; Online: Real-time tracking of COVID-19 impacts across Europe reveals that seeking "herd immunity" provides no economic benefits

    Fezzi, Carlo / Fanghella, Valeria

    2020  

    Abstract: This paper develops a methodology for tracking in real time the impact of the COVID-19 pandemic on economic activity by analyzing high-frequency electricity market data. The approach is validated by several robustness tests and by contrasting our ... ...

    Abstract This paper develops a methodology for tracking in real time the impact of the COVID-19 pandemic on economic activity by analyzing high-frequency electricity market data. The approach is validated by several robustness tests and by contrasting our estimates with the official statistics on the recession caused by COVID-19 in different European countries during the first two quarters of 2020. Compared with the standard indicators, our results are much more chronologically disaggregated and up-to-date and, therefore, can inform the current debate on the appropriate policy response to the pandemic. Unsurprisingly, we find that nations that experienced the most severe initial outbreaks also grappled with the hardest economic recessions. However, we detect diffused signs of recovery, with economic activity in most European countries returning to its pre-pandemic level by August 2020. Furthermore, we show how delaying intervention or pursuing 'herd immunity' are not successful strategies, since they increase both economic disruption and mortality. The most effective short-run strategy to minimize the impact of the pandemic appears to be the introduction of early and relatively less stringent non-pharmaceutical interventions.
    Keywords Economics - General Economics ; covid19
    Subject code 339
    Publishing date 2020-09-19
    Publishing country us
    Document type Book ; Online
    Database BASE - Bielefeld Academic Search Engine (life sciences selection)

    Full text online

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