Luis Garicano 🇪🇺🇺🇦 @lugaricano@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
RT @BalEdmundo: Por el coronel Pérez de los Cobos, por la directora Paz Esteban, por el coronel Sánchez Corbí, por la jurista Mariscal de Gante y por todos los servidores públicos purgados por Sánchez. Sois un orgullo y es un honor defender vuestras trayectorias, dignidad y servicio a España 🇪🇸
El principio del fin de Cripto: 96% de caída de $LUNA la moneda de los "lunáticos" (gran nombre) en una semana.
RT @TheStalwart: Holy crap $LUNA
RT @ben_moll: @SophieViktoria1 Totally agreed that people should be informed about a (reasonable) worst case scenario. But it matters how it’s calculated. And if the way it is calculated is BS, then we shouldn’t use that calculation. Why not just multiply by 20 and say 1.6%*20=32% is worst case scenario?
RT @Cs_Europa: 🔌 Putin usa el gas y el petróleo como arma de guerra, y Europa cae en su chantaje.
Hasta que tengamos el coraje de cortar las importaciones rusas podemos hacer dos cosas:
1⃣ un tope al precio que se paga
2⃣ poner un arancel al gas y petróleo
📻 @lugaricano en @rintereconomia
RT @ben_moll: @tom_krebs_ Now you're saying "oh this is just my upper bound" and there are "pros and cons of this (and other) information"?
Given Carvalho & Tahbaz-Salehi warn against using their number to get from 1.6% to 8% how about retracting the upper bound?
.@TheStudyofWar continues making the best maps. Today's is particularly enlightening.
RT @Osinttechnical: ISW- “The Ukrainian counteroffensive north of Kharkiv City continued to successfully push Russian forces toward the Russia-Ukraine border on May 10”
La jornada "continua", es decir, matinal:
- afecta a los niños de rentas más bajas
- reduce significativamente los ingresos de las familias, especialmente de las mujeres.
- fuerza a las familias a pagar más por el cuidado de los niños.
Gran estudio (¡ver hilo!) de @EsadeEcPol 👇
RT @EsadeEcPol: En términos agregados, la jornada matinal supondría una pérdida anual de 8.050 mill de € de ingresos laborales para las familias, de los que …
RT @RobinBrooksIIF: The share of Greek tankers shipping oil out of Russian ports is up from 37% before the war to 55% since then (blue). The EU holds the key to making an oil embargo effective. It can either prohibit this tanker traffic outright or sanction maritime insurance. With @JonathanPingle
@VictorLapuente Me suena sospechosamente, a la justificación de todos los dictadores desde Franco a Xi- no tendréis derechos , pero no os podéis quedar de cómo os cuido, ¿eh?
The EU spends another day financing Putin’s war. A new oil tanker from Russia arrives in an EU port today, the 10th of May.
Destination: Valletta, Malta.
Ship Name: Stena Natalita
IMO: 9206671
Carrying approx 672,937 barrels of Crude Oil worth an estimated $68M
22/N
Europe has an advantage that Chile did not have in 2007: it's reasonably well interconnected. E.g. Germany can use LNG facilities from the Netherlands and it can import electricity from other EU countries. It can also temporarily activate its spare coal-fired and nuclear power.
Thanks to incurring those sacrifices, now Chile is a world leader in renewable energy, with 43.5% of its power in 2021 generated by renewables, and it exports gas from its new LNG Terminals to Argentina through the same pipelines that once used to bring Argentinian gas to Chile.
4) The Chilean government resisted political pressure to cap domestic energy prices because it would have countered its efforts to reduce consumption. Instead, they provided poor households with cash transfers and subsidies similar in value to their additional energy expenses.
3) It launched a national energy-efficiency campaign: the Government distributed low-consumption light bulbs, provided funds to improve insulation in homes and incentives for firms to reduce consumption, extended summer daylight saving hours. Electricity use fell by 10% in 2008.
2) It accelerated the expansion of solar and wind power. The fist law in Latin America was passed to regulate renewable energy and provide risk-mitigation guarantees to new private suppliers, encouraging smaller hydro, solar and wind projects. https://jia.sipa.columbia.edu/renewable-energy-chile
Chile's successful emergency response consisted in 4 main measures: 1) It accelerated the construction of a LNG vaporizer and started building a second facility. LNG storage capacity took longer to be built so ships provided temporary storage. https://www.cailaw.org/media/files/IEL/Publications/2014/ela-lng-chile-vol8-no4.pdf
In mid-2007, populist manipulation by Peronists of natural gas price in Argentinian had reduced investment while consumption skyrocketed. As a result, the Peronist Government decided from one day to the next to stop supplying Chile.
https://www.nytimes.com/2007/10/13/world/americas/13chile.html
In the 2000s, Chile was dependent on Argentina’s natural gas to meet its energy demand, as a result of its desire to reduce dirtier power sources such as coal and diesel. It built seven pipelines across the Andes. https://www.gem.wiki/GasAndes_Pipelinec
.@AndresVelasco and Marcelo Tokman, former Treasury and Energy Ministers of Chile, explain on this article how Chile successfully overcame the sudden cut-off of gas supply from Argentina in 2007: https://www.project-syndicate.org/commentary/russian-gas-chiles-lessons-for-germany-europe-by-andres-velasco-and-marcelo-tokman-2022-04
Media highlights study by @tom_krebs_ on impact of Gas embargo.
Its methodology is embarrassing, as @ben_moll explains:
1. Get 1.6% impact
2. Multiply by 5 (!) based on Fukushima. Problem: there were 3 simultaneous shocks: electricity, TSUNAMI, nuclear.
?s=20&t=cMX5lXPLeyKRBXuTDuSfrA
RT @ben_moll: .@tom_krebs on a gas import stop: 1.6%*5 = 8%.
Only the 1.6% is @tom_krebs own number. The factor of 5 is from a totally different study …
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
