Fuelling Dissent

Total Page:16

File Type:pdf, Size:1020Kb

Fuelling Dissent editorial Fuelling dissent As the yellow vests protests in France continue despite rollback of planned fuel taxes, energy science and policy will have to rethink how they look at social unrest. any countries with ambitious grass roots movement and adds to the specific levels of continuous policy support. nationally determined complexity of fuel tax implementation. In the case of the yellow vests movement Mcontributions for reducing It would also be imprudent to dismiss the though, we have a country that appeared greenhouse gas emissions identify fuel yellow vests protests and their outcome as a to be heading in one direction in terms of taxation both as a tool for curbing fossil fuel one-off event. Just by virtue of the reversal energy and climate policies suddenly being usage and for financing renewable energy of government policy it achieved, the made to alter course through an event whose initiatives. While a number of studies have movement could encourage opponents of timing could not have been predicted even identified disproportionate distributional climate action elsewhere to instigate protests if it could be anticipated. The Fukushima impacts of these taxes on various segments that could end up delegitimizing socially disaster similarly led to extensive policy of society1, there has been continuing costly energy and environment policies, even reversals in Germany and other European support for such measures in Western if there is majority support for them. In any nations in a way that could not have been European countries with high levels of case, the yellow vests movement will likely predicted4. Scenario modelling could environmental awareness and ambitious make governments more wary of pursuing have envisioned pathways with or without national climate targets. Even if recognized such taxation and further complicate wider nuclear, but the change in plans itself is as a difficult policy to implement, the adoption of this policy measure. something that could not have been built taxes until recently weren’t considered Of course, it is inaccurate to see the into the model, at least not with an accurate potential flash points for instigation of yellow vests protests as a response to fuel estimate of the timing. anti-government populist movements. Yet taxes alone. Such taxation has long been If confounding factors such as higher- that is exactly what appears to have happened known to have an inordinate negative intensity weather events, resource- or over the past few months in France. affect on the poor. One recent study of the climate-based social unrest, and cascading The French yellow vests protests started distributional impacts of carbon taxation in failures become more common, we might in response to a proposed gasoline tax France found that unless the revenues from need to look at scenarios of the future increase of about €0.029 per litre that was the taxes are recycled back to low-income with potentially extreme discontinuities going to go into effect in 2019. This tax households through cash transfers, the and uncertainties. While uncertainty hike had followed previous tax increases. taxes increase fuel poverty1. Energy justice quantification has long been a key element The protestors wore yellow vests because scholars have been emphasizing the need to of scenario-modelling science — with French drivers are mandated to carry distribute the costs and benefits of climate ensembles and shared pathways favoured in them in their vehicles, making them both mitigation and energy transition equitably. lieu of specific single scenarios — it remains readily available to most and a symbol It is clear that energy policy continues to lag to be seen how, if at all, discontinuities in of official mandates. The resistance was behind in this domain and climate taxation policy processes can be visualized. At least, triggered by an online petition calling for appears to exacerbate existing economic the potential tipping points for any given a repeal of the proposed tax, among other inequalities. The yellow vests movement scenario pathway — that may drastically things. The online dissent flooded over is cognizant of the broader socioeconomic alter the eventual outcomes beyond the into street protests by mid-November 2018. issues at play. The demands of the protestors power of the model to predict with any The government was initially dismissive are not only limited to a moratorium degree of accuracy — could be identified5. but as the protests intensified it backed on specific fuel taxes but also focus on a Nonetheless we should realize that if down, suspending the planned tax hike and broader list of issues calling for more equal underlying asymmetries in distribution of offering other concessions. distribution of income and wealth and more subsidies for changing energy systems and Carbon taxes have long been seen as a just taxation to meet climate targets. The fuel taxation to facilitate the energy transition difficult climate policy to implement. Public taxes in this case became the kindling that lit are not addressed, they can become an acceptance is easier to earn with gradual a bonfire that had been building for a while. added source of policy uncertainty at a implementation, higher if the taxation is Energy policy should be mitigating this time when more certainty and more action progressive and revenues progressively distributional disparity. In attempting to are required. ❐ distributed, and rises once the taxes are in inform policy, scenario modelling could 2,3 place . Governments thus already approach do more to examine the effects of rising Published online: 13 February 2019 fuel taxes with caution, generally aiming disparities, including the emergence of https://doi.org/10.1038/s41560-019-0344-z for more conservative rates compared with social unrest. However, predicting the scientific recommendations for meeting timing or probability of unanticipated social References climate targets. The yellow vests movement unrest and any resulting policy reversals 1. Berry, A. Energy Policy 124, 81–94 (2018). and its aftermath now represents one of the in scenario-modelling exercises is a very 2. Carattini, S., Carvalho, M. & Fankhauser, S. Wiley Interdiscip. Rev. first examples of rapid reversal of planned difficult task. Clim. Change 9, e531 (2018). 3. Kotchen, M. J. et al. Environ. Res. Lett. 12, 094012 (2017). government climate action at the national Currently, integrated modelling exercises 4. Wittneben, B. B. F. Environ. Sci. Policy 15, 1–3 (2012). level in response to a direct and targeted that look at socioeconomic pathways assume 5. Lenton, T. M. & Ciscar, J. C. Clim. Change 117, 585–597 (2012). NATURE ENERGY | VOL 4 | FEBRUARY 2019 | 85 | www.nature.com/natureenergy 85.
Recommended publications
  • Forex Medium-Term Outlook(Jan, 2019)
    Forex Medium-Term Outlook 26 December 2018 Mizuho Bank, Ltd. Forex Department 【Contents】 Overview of Outlook ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・P. 2 USD/JPY Outlook –Time for a Change in the Premise 2019 – Vital Points for Global Economy; The Year in Which the True Price of Rate Hikes Emerges ・・・・ ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ ・ P. 3 2019 – Vital Points for Forex Rates; Time for a Change in the Premise・・・・・・・・・・・P. 5 U.S. Monetary Policies Now and Going Forward – The First Step into a New Phase・・・・・P. 6 Overview of Tail Risks – Potentials for the Unexpected in Japan, the United States, and Europe・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ P. 1 0 EUR Outlook – ‒ “Increasing Caution” and “Continuing Confidence” ECB Monetary Policies Now and Going Forward – APP Termination and Outlook Regarding Reinvestment・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・P. 1 4 Uncertain future Reflected in French “Yellow Vests” Riots – Issues the EU Should Worry About・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・P. 1 5 Ongoing Shift to a “Post-Merkel” Germany and EU – The EUR 3.0 Era・・・・・・・・・・P. 1 7 Medium-Term Forex Outlook 1 Mizuho Bank Ltd. Overview of Outlook USD/JPY clearly fell in December. In line with the concerns I have consistently expressed in this report, the prices of risky assets have been forced to undergo a correction in response to the increase in U.S. interest rates. The Fed had until recently remained indifferent to this asset price volatility, but it may finally no longer be able to ignore the fluctuations. This is evidenced by the fact that Committee members were forced in December to downgrade their dot plot projections for the entire forecasting period. Market predictions, however, are even more pessimistic than those suggested by the revised dot plot, with some even predicting the end of rate hikes altogether.
    [Show full text]
  • Yellow Vests, Carbon Tax Aversion, and Biased Beliefs
    YELLOW VESTS,CARBON TAX AVERSION, AND BIASED BELIEFS* Thomas Douenne and Adrien Fabre† Abstract This paper seeks to understand how beliefs endogenously form and determine attitudes towards policies. Using a new survey and National households’ survey data, we investigate the case of car- bon taxation in France in the context of the Yellow Vests movement that started against it. We find that French people would largely reject a Tax & Dividend policy, i.e. a carbon tax whose revenues are redistributed uniformly to all households. However, they also overestimate the negative impact of the scheme on their purchasing power, wrongly think it is regressive, and do not perceive it as environmentally effective. Using information about the scheme as instrument to identify robust causal effects, our econometric analysis shows that correcting these three biases would suffice to generate majority approval. Yet, we find that people’s beliefs are persistent and their revisions biased towards pessimism so that only a small minority can be convinced. Indeed, if overly pes- simistic beliefs cause tax rejection, they also result from it through motivated reasoning, which manifests what we define as “tax aversion”. JEL classification: D72; D91; H23; H31; Q58 Keywords: Climate Policy; Carbon tax; Bias; Beliefs; Preferences; Tax aversion *Acknowledgments: We are grateful to Mouez Fodha, Fanny Henriet and Katheline Schubert for their comments and their help to get funding. We also thank Béatrice Boulu-Reshef, Stefano Carattini, Nicolas Jacquemet, Mathias Lé, Linus Mattauch, Joseph Stiglitz, Thierry Verdier, seminar participants at the Paris School of Economics and an anonymous referee of the FAERE Working Paper series.
    [Show full text]
  • Macron, the Yellow Vests and the National Debate. Playing for Time, Not Solving the Political Legitimacy Crisis
    NO. 17 MARCH 2019 Introduction Macron, the Yellow Vests and the National Debate Playing for Time, Not Solving the Political Legitimacy Crisis Ronja Kempin and Paweł Tokarski France’s yellow vests (gilets jaunes) are heterogeneous, make contradictory demands, and refuse to give up. Since November 2018 they have been demonstrating for more purchasing power and greater democracy. Having made financial concessions, Presi- dent Emmanuel Macron is now playing for time. He has initiated a “grand national debate”, in which all citizens were called on to voice their opinions concerning future political issues. This debate is likely to help him win the European Parliament (EP) elections in May and facilitate splintering the yellow vests. To avert further protests that could paralyse the country, delegitimise his government and ensure that his presidency fails, Macron needs to improve the way he communicates his reform agenda. Merely playing for time will not make France reformable and governable for this president, any more than it did for his predecessors. The protests never end. Since 17 November are held by the rural lower-middle class, 2018, people wearing high-visibility yel- including craftsmen and women and shop- low vests have been taking to the streets keepers. They can barely earn a living from of France on Saturdays. The protests by their work and are afraid of sliding into the yellow vests, organised nationwide, were poverty. Politically, according the yellow initially directed against the higher tax on vests, they have no voice. They reject the fossil fuels planned by President Macron. support of the trade unions and parties of They quickly evolved into a list of 42 the political left, which previously chan- demands.
    [Show full text]
  • Yellow Vests, Pessimistic Beliefs, and Carbon Tax Aversion
    YELLOW VESTS,PESSIMISTIC BELIEFS, AND CARBON TAX AVERSION* Thomas Douenne and Adrien Fabre† Link to most recent version Abstract Using a representative survey, we find that after the Yellow Vests movement, French people would largely reject a Tax & Dividend policy, i.e. a carbon tax whose revenues are redistributed uni- formly to each adult. However, they overestimate their net monetary loss, wrongly think the policy is regressive, and do not perceive it as environmentally effective. We show that changing people’s beliefs about the tax incidence and effectiveness can largely increase support. Yet, beliefs change little following our informational treatments. Indeed, if overly pessimistic beliefs cause tax rejec- tion, they also result from it through motivated reasoning, which manifests what we define as “tax aversion”. JEL classification: D72; D91; H23; H31; Q58 Keywords: Climate Policy; Carbon tax; Beliefs; Preferences; Tax aversion *Acknowledgments: We are grateful to Mouez Fodha, Fanny Henriet and Katheline Schubert for their comments and their help to get funding. We also thank Stefano Carattini, Linus Mattauch, Joseph Stiglitz, Thierry Verdier, as well as seminar participants at the Paris School of Economics, Columbia University, University of Pennsylvenia, University of Amsterdam, University of Quebec at Montréal, KU Leuven, Erasmus University Rotterdam, Environmental Defense Fund, EIEE-CMCC (Milan), OECD, OFCE, and conference participants at FSR Climate Annual Conference (Florence), ADRES (Lyon), FAERE (Rennes). We are thankful to Christina Hobbs for the proof- reading. We are grateful to anonymous referees for their insightful comments and suggestions. We acknowledge financial support from the Cepremap, EUR PGSE (ANR-17-EURE-0001) ANR (ANR16-CE03-0011), and Université Paris 1 Panthéon-Sorbonne economics doctoral school (ED 465).
    [Show full text]
  • Moosejaw Market Expansion Into France
    Bowling Green State University ScholarWorks@BGSU Honors Projects Honors College Spring 5-17-2019 Moosejaw Market Expansion into France Rachel Renou [email protected] Follow this and additional works at: https://scholarworks.bgsu.edu/honorsprojects Part of the Business Administration, Management, and Operations Commons, E-Commerce Commons, International Business Commons, and the Marketing Commons Repository Citation Renou, Rachel, "Moosejaw Market Expansion into France" (2019). Honors Projects. 439. https://scholarworks.bgsu.edu/honorsprojects/439 This work is brought to you for free and open access by the Honors College at ScholarWorks@BGSU. It has been accepted for inclusion in Honors Projects by an authorized administrator of ScholarWorks@BGSU. 1 Moosejaw Market Expansion into France Rachel Renou Honors Project Submitted to the Honors College at Bowling Green State University in partial fulfillment of the requirements for graduation with UNIVERSITY HONORS DATE Dr. Zhang Management Department; College of Business, Advisor Dr. Gremler Marketing Department; College of Business, Advisor 2 Table of Contents Executive Summary…………………………………………………………………………….....3 Introduction………………………………………………………………………………………..4 Background……………….…………………………………………………………………….....5 Country Analysis………………………………………………………………………...…….….8 Political Environment……………………………………………..………………..…..…8 Social/Cultural Environment………………………………………………………….....11 Industry/Business Analysis…………………………………………………………………..….16 Five Forces Analysis……………………………………………………………………….....….22 SWOT Analysis……………………………………………………………………………….....27
    [Show full text]
  • S Revolution! the Battleplan Against the NWO! by Thomas Eidsaa Last Edited 13.04.2020 a Compilation of Articles, Read Alongside Internet
    1 2 The People`s Army`s Revolution! The battleplan against the NWO! By Thomas Eidsaa last edited 13.04.2020 A compilation of articles, read alongside internet. Exposing and defeating the black magic NWO! I wish you a happy revolution! Be careful! We are not fighting an armed conflict but an infowar. ¨Peace love anarchy!¨ PS! My Christian book series are national-conservative and religious conservative. This book is more liberal, dedicated to why we need a revolution and the few ways of actually achieving revolution. Cover and all writing by Thomas Eidsaa copyright 2019. No part in this publication may be used or transmitted in any way without the expressed written consent of the publisher, except for short excerpts for the use in reviews. 3 Other books by Thomas Eidsaa: The GRRRRR book-series, or The Great Romantic Revivalist`s Reformation Revolution Renaissance series, is a an eye-opening Christian series which detail all my research into Christianity, neo- charismatic theology, apologetics, ontological arguments, the problem of evil, eschatology, and conspiracy theories of great importance every Christian needs to understand. It is a work aimed at waking you up and expose the evil you never thought existed. What you don`t know can still kill you. It is a guide, and compendium of important topics relating to the radical, Christian faith in the dangerous, unpredictable 21st century death of Europe. I take the reader on an amazing journey – uniting 1st century Nazarene knowledge with 21st century science, theology and societal problems. I personally believe the knowledge therein will create peace on Earth.
    [Show full text]
  • As Macron Prepares New Repressive Measures, Yellow Vests and Red Unions Strike Together
    As Macron Prepares New Repressive Measures, Yellow Vests and Red Unions Strike Together On Tues, Feb. 5, as the Macron government pushed harsh repressive laws against demonstrators through the National Assembly, the Yellow Vests joined with France’s unions for the first time in a day-long, nation-wide “General Strike.” At the very moment when in Paris the lower house was voting to implement Macron’s proposed laws designed to suppress public demonstrations (a legal right protected in both the French Constitution and the U.N. Human Rights Declaration) tens of thousands of their constituents were out in the streets all over the country demonstrating and striking against Macron’s authoritarian, neo-liberal government. The demonstrators’ demands ranged from better salaries and retirement benefits, restoration of public services, equitable tax codes, an end to police brutality, and banning the use of “flash-balls” on demonstrators, to Macron’s resignation and the instauration of participatory democracy. Deaf to the angry people’s legitimate grievances, unwilling to deal with them, Macron has given himself no other choice than to legislate new repressive legal restrictions to suppress their continued free expression. This resort to open repression can only serve to discredit the government’s handling of a crisis largely of its own making, treating a spontaneous social movement among the 99% as if it were a terrorist or fascist conspiracy. The unpopular President’s repressive tactics will inevitably backfire on him. The French are extremely jealous of their liberties, and Macron’s monarchical arrogance can only remind them of how their ancestors dealt with Louis XVI.
    [Show full text]
  • Initial Assessment Report for Nigeria Minamata Convention on Mercury Initial Assessment Report for Nigeria
    MINAMATA CONVENTION ON MERCURY INITIAL ASSESSMENT REPORT FOR NIGERIA MINAMATA CONVENTION ON MERCURY INITIAL ASSESSMENT REPORT FOR NIGERIA June, 2017 MINAMATA CONVENTION ON MERCURY INITIAL ASSESSMENT REPORT FOR NIGERIA FOREWORD Mercury (Hg) does not only pose significant local contamination problems, but its elemental form can be oxidized and travel long distances through the atmosphere and /or deposited in ecosystems. In aquatic systems, mercury from local and distant sources can be converted into methylmercury, a serious neurotoxin. High-dose exposure to methylmercury can lead to significant neurological damage, heart disease and fatalities. Low-dose exposure has been linked to developmental delays and neurological damage affecting brain and muscle capacity, especially in small children. Thus, mercury remains a major global, regional and national challenge in terms of threat to human health and the environment. Although, mercury is released into the environment through natural phenomena, the bulk of environmental mercury now comes from human activities. In Nigeria, the major sources of mercury emissions and releases are through the following economic activities: artisanal and small-scale gold mining (ASGM), use and improper disposal of mercury containing products and their wastes, cement production, oil & gas exploration and exploitation activities. In support of global measure to address the increasing level of mercury in the environment, Nigeria joined the rest of the world to negotiate the Minamata Convention on Mercury-a global, legally binding treaty; and, having agreed to the text of the Convention, signed it on 10th October 2013. The Federal Executive Council (FEC) on 12th April 2017 approved the ratification of the Convention and the Federal Ministry of Justice is currently preparing the instrument of ratification for Mr.
    [Show full text]
  • HAWAII .114ARIATE- Voluntary Payment for Delivery to MCAS Housing/$1 Per Four Week Period VOL 10 NO
    ITARIAIF con PS HISTORIC!. HAWAII .114ARIATE- Voluntary payment for delivery to MCAS housing/$1 per four week period VOL 10 NO. 3 I KANEOHE BAY, HAWAII. AUGUST 26, 1981 TWENTY-TWO PAGES Laws govern public drinking by Sgt Inez J. Stoner Army Sergeant First Class James Berryman, "and subject to being bartender tells you that the drink Berryman, Noncommissioned picked up by the HPD. I've seen can't be taken onto the beach. We Twenty-five dollars is a lot to pay Officer in Charge of the Military people no more than a foot off the also have signs on the cash for a can of beer but a lot of people Police Department at Fart sidewalk who were arrested. But registers saying the same thing." have been paying it since the DeRussy, 66 Armed Forces that's all it takes." According to SFC Berryman, Honolulu Police Department personnel were arrested by HPD half of those arrested don't realize began arresting those people in July for drinking in public on EFFORTS HAVE BEEN that it's against the law to drink violating the public drinking Oahu. made to inform service members on the beach. "We had a whole laws. of the laws prohibiting the unit from Schofield Barracks Revised Ordinance, Section 13- ONE AIRMAN, EIGHT drinking of alcoholic beverages on Picked up one . day. " SFC 42, prohibits the drinking or Marines, 21 soldiers and 36 sailors public beaches in Hawaii. Signs Berryman added. displaying of any alcoholic were arrested, handcuffed, booked are posted on the lifeguard towers Like Fort DeRussy and the Hale beverage in public, including and eventually released on $25 on the beach at Fort DeRussy Koa Hotel, the Marine Corps Air beaches, parks, parking lots, bail each.
    [Show full text]
  • Citizens' Contestation of a Just Climate Policy
    Citizens’ Contestation of a just Climate Policy Exploring Perceptions of Distribution, Procedure and Recognition Justice of Climate Policy: A Case Study of the Yellow Vests Movement Freya Endrullis July 2021 Master Thesis (30 ECTS) Sustainable Development – Earth System Governance JUSTICE PERCEPTIONS OF CLIMATE POLICY 2 Cover photo: AFP (2019). Les gilets jaunes prennent le plus souvent les Champs-Elysées comme but de leur cortège. [Photograph]. L’Est Republicain. Retrieved from https://www.estrepublicain.fr/france- monde/2019/11/07/pour-leur-anniversaire-les-gilets-jaunes-veulent-retourner-sur-les-champs-elysees Freya Endrullis (6968287) [email protected] Faculty of Geosciences Utrecht University Master: Joint International Master in Sustainable Development Track: Earth System Governance Supervisor: Dr. James Patterson Second reader: Prof. Dr. Matthias Middell 7th July 2021 30 ECTS JUSTICE PERCEPTIONS OF CLIMATE POLICY 3 SUMMARY States worldwide are facing the challenge of implementing climate mitigation policies that are accepted by the public. Especially carbon pricing has met strong resistance. Among other factors, climate policy acceptance can be predicted by one’s subjective perceptions of a policy being (un)just which are influenced by the individual’s personal characteristics and situational factors. Based on an in-depth case study of the contestation of a just climate policy by the French Yellow Vests movement, this study seeks to analyze citizens’ justice perceptions as determinant of climate policy acceptance. Specifically,
    [Show full text]
  • French and Provençal Lexicography
    Essays Presented to Honor Alexander Herman Schutz French and Provençal Lexicography Edited by Urban T. Holmes and Kenneth R . Scholberg Ohio State University Press $7.50 French and Provençal Lexicography Essays presented to honor Alexander Herman Schutz French and Provençal Lexicography Edited by Urban T. Holmes and Kenneth R. Scholberg Ohio State University Press Copyright © 1964 by the Ohio State University Press All Rights Reserved Library of Congress Catalogue Card Number: 64-17108 'Foreword* WIT H this volume the friends of Alexander Herma n Schutz, the administration of the Ohio State University, the Ohio State Uni­ versity Press, and his colleagues in the Department of Romanc e Languages of the Ohio State University, express their gratitude for the man y years of stimulating and affectionate association they have shared with him. Some of those whom he has known best are not represented in these pages because of other commitments, but all join in wishing him many more happy and fruitful years. Those who have known him well have never found him wanting. Th e articles presented are arranged, roughly, in three categories which emphasize the field of research that have concerned him most: Old French lexicography, Provençal lexicography, and Renaissance French lexicography. Th efields of General Romanc e linguistics and stylistics, in which he has also been interested, are also included. URBAN T. HOLMES KENNETH R. SCHOLBERG -Contents- Alexander Herman Schutz Urban T. Holmes Part I: General and Old French Studies Lexicography and Stylistics
    [Show full text]
  • Beyond Political Divides: Analyzing Public Opinion on Carbon Taxation in Switzerland
    IRENE Working Paper 20-11 Beyond political divides: Analyzing public opinion on carbon taxation in Switzerland Laurent Ott, Mehdi Farsi, and Sylvain Weber Beyond political divides: analyzing public opinion on carbon taxation in Switzerland* Laurent Ott Mehdi Farsi Sylvain Weber§ November 16, 2020 Abstract This paper investigates public opinion on the Swiss CO2 levy and its 2020 revision by using a discrete choice experiment answered by a sample of 586 respondents living in Switzerland. The ex- periment is designed to elicit citizen preferences among various taxation attributes and is followed by a referendum voting experiment on various CO2 levy proposals. Based on latent class modeling approaches, we find that the population is composed by two distinct but relatively preference pro- files: Environmentalists and Neutrals. Respondents belonging to the first group tend to favor higher carbon tax rates and a redistribution of proceeds benefiting low-income individuals, whereas those in the second group prefer lower rates and a uniform redistribution of proceeds across all taxpayers. Findings from the voting experiment point to a general support among the Environmentalists, but an uncertain approval from the Neutral group. Keywords: Carbon tax, preference heterogeneity, public opinion, latent class, discrete choice exper- iment JEL classification: C25, D72, D78, H23, Q48, Q54 *This research is part of the activities of SCCER CREST (Swiss Competence Center for Energy Research), which is financially supported by Innosuisse under Grant No. KTI. 1155000154. University of Neuch^atel,Institute of economic research, Abram-Louis Breguet 2, 2000 Neuch^atel,Switzerland. [email protected] University of Neuch^atel,Institute of economic research.
    [Show full text]