@article{LessmannKalkuhl2023,
  author    = {Lessmann, Kai and Kalkuhl, Matthias},
  title     = {Climate finance intermediation},
  series = {Journal of the Association of Environmental and Resource Economists},
  volume    = {11},
  journal   = {Journal of the Association of Environmental and Resource Economists},
  number    = {1},
  publisher = {University of Chicago Press},
  address   = {Chicago, IL},
  issn      = {2333-5955},
  doi       = {10.1086/725920},
  pages     = {213 -- 251},
  year      = {2023},
  abstract  = {Interest rates are central determinants of saving and investment decisions. Costly financial intermediation distorts these price signals by creating a spread between deposit and loan rates. This study investigates how bank spreads affect climate policy in its ambition to redirect capital. We identify various channels through which interest spreads affect carbon emissions in a dynamic general equilibrium model. Interest rate spreads increase abatement costs due to the higher relative price for capital-intensive carbon-free energy, but they also tend to reduce emissions due to lower overall economic growth. For the global average interest rate spread of 5.1 percentage points, global warming increases by 0.2°C compared to the frictionless economy. For a given temperature target to be achieved, interest rate spreads necessitate substantially higher carbon taxes. When spreads arise from imperfect competition in the intermediation sector, the associated welfare costs can be reduced by clean energy subsidies or even eliminated by economy-wide investment subsidies.},
  language  = {en}
}
@article{IroPatel2020,
  author    = {Iro, Adrea and Patel, Urvaksh D.},
  title     = {Making Climate Finance Effective},
  series = {Leidenschaft und Augenmaß : sozialwissenschaftliche Perspektiven auf Entwicklung, Verwaltung, Umwelt und Klima : Festschrift f{\"u}r Harald Fuhr},
  journal   = {Leidenschaft und Augenmaß : sozialwissenschaftliche Perspektiven auf Entwicklung, Verwaltung, Umwelt und Klima : Festschrift f{\"u}r Harald Fuhr},
  publisher = {Nomos},
  address   = {Baden-Baden},
  isbn      = {978-3-8487-5249-2},
  pages     = {181 -- 194},
  year      = {2020},
  language  = {de}
}
@techreport{MarcusSiedlerZiebarth2021,
  type      = {Working Paper},
  author    = {Marcus, Jan and Siedler, Thomas and Ziebarth, Nicolas R.},
  title     = {The Long-Run Effects of Sports Club Vouchers for Primary School Children},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {34},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-50897},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-508978},
  pages     = {72},
  year      = {2021},
  abstract  = {Starting in 2009, the German state of Saxony distributed sports club membership vouchers among all 33,000 third graders in the state. The policy's objective was to encourage them to develop a long-term habit of exercising. In 2018, we carried out a large register-based survey among several cohorts in Saxony and two neighboring states. Our difference-in-differences estimations show that, even after a decade, awareness of the voucher program was significantly higher in the treatment group. We also find that youth received and redeemed the vouchers. However, we do not find significant short- or long-term effects on sports club membership, physical activity, overweightness, or motor skills.},
  language  = {en}
}