Theory of Socially Responsible Investment: A Review (2023)
Book Chapter
Marsiliani, L., Naga, L., Renström, T. I., & Spataro, L. (2023). Theory of Socially Responsible Investment: A Review. In L. Spataro, M. C. Quirici, & G. Iermano (Eds.), ESG Integration and SRI Strategies in the EU (11-45). Palgrave Macmillan. https://doi.org/10.1007/978-3-031-36457-0_2

Socially responsible investment (SRI), where individuals look beyond financial payoffs to integrate environmental, social and governance (ESG) factors into their investment decisions, is not fully explained by standard models of preferences. Conseque... Read More about Theory of Socially Responsible Investment: A Review.

The Vulnerability to Oil Price Shocks of the Bangladesh Economy (2022)
Book Chapter
Amin, S., Marsiliani, L., Renström, T., & Taghizadeh-Hesary, F. (2022). The Vulnerability to Oil Price Shocks of the Bangladesh Economy. In F. Taghizadeh-Hesary, & D. Zhang (Eds.), The Handbook of Energy Policy. Springer Verlag. https://doi.org/10.1007/978-981-16-9680-0_36-1

The economic impacts of oil price shocks have been widely examined since the first oil crisis of 1973. However, most of the earlier studies have primarily focused on advanced economies while emerging countries have received less attention. In Banglad... Read More about The Vulnerability to Oil Price Shocks of the Bangladesh Economy.

Decarbonisation Policies and Energy Price Reforms in Bangladesh (2022)
Journal Article
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., & Renström, T. (2022). Decarbonisation Policies and Energy Price Reforms in Bangladesh. Energy Policy, 170, Article 113224. https://doi.org/10.1016/j.enpol.2022.113224

Bangladesh electricity sector suffers from heavy subsidization of fossil fuels and regulated electricity prices. These interventions distort the fuel mix in electricity production, promote overconsumption of fossil fuels and slow down the low-carbon... Read More about Decarbonisation Policies and Energy Price Reforms in Bangladesh.

The Case of Waste to Energy in Bangladesh (2022)
Book Chapter
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., & Renstrom, T. (2022). The Case of Waste to Energy in Bangladesh. In L. Arthur, M. Hughes, & D. Hondo (Eds.), Prospects for Transitioning from a Linear to Circular Economy in Developing Asia (127-144). Asian Development Bank Institute

Captive Power, Market Access and Macroeconomic Performance: Reforming the Bangladesh Electricity Sector (2021)
Journal Article
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., Renström, T., & Sarkar, A. (2021). Captive Power, Market Access and Macroeconomic Performance: Reforming the Bangladesh Electricity Sector. Energy Economics, 102, Article 105468. https://doi.org/10.1016/j.eneco.2021.105468

Integrating the captive capacity with the on-grid supply has been advocated as a way to improve resource utilization in the electricity market in developing and emerging countries. Despite many countries granting Captive Power Plants (CPPs) access to... Read More about Captive Power, Market Access and Macroeconomic Performance: Reforming the Bangladesh Electricity Sector.

The Role of Captive Power Plants in the Bangladesh Electricity Sector (2021)
Report
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., & Renström, T. (2021). The Role of Captive Power Plants in the Bangladesh Electricity Sector. [No known commissioning body]

Captive Power Plants (CPPs) in many emerging and developing countries play a significant role in the electricity sector. This is mainly due to unreliable electricity supplies from state-owned utilities and challenges in accessing the national grid es... Read More about The Role of Captive Power Plants in the Bangladesh Electricity Sector.

Can subsidies rather than pollution taxes break the trade-off between economic output and environmental protection? (2020)
Journal Article
Renström, T. I., Spataro, L., & Marsiliani, L. (2021). Can subsidies rather than pollution taxes break the trade-off between economic output and environmental protection?. Energy Economics, 95, Article 105084. https://doi.org/10.1016/j.eneco.2020.105084

We build a general equilibrium dynamic model in which individual investors are endowed with “warm-glow” preferences a la Andreoni (1990) so that they feel partly responsible for the pollution content of their portfolio. Through investors’ portfolio c... Read More about Can subsidies rather than pollution taxes break the trade-off between economic output and environmental protection?.

Combining Private and Public Resources: Captive Power Plants and Electricity Sector Development in Bangladesh (2019)
Journal Article
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., & Renstrom, T. (2021). Combining Private and Public Resources: Captive Power Plants and Electricity Sector Development in Bangladesh. Emerging Markets Finance and Trade, 57(14), 3891-3912. https://doi.org/10.1080/1540496x.2019.1703107

Developing economies need to efficiently utilize both public and private resources to develop their energy sectors. The opportunity cost of failing to do so is high. This article uses a Dynamic Stochastic General Equilibrium (DSGE) approach to assess... Read More about Combining Private and Public Resources: Captive Power Plants and Electricity Sector Development in Bangladesh.

Optimal sin taxes in the presence of income taxes and health care (2019)
Journal Article
Marsiliani, L., Renstrom, T., & Wang, J. (2020). Optimal sin taxes in the presence of income taxes and health care. Economics Letters, 186, Article 108767. https://doi.org/10.1016/j.econlet.2019.108767

We present a unified approach to analyze sin taxes, by allowing for a non-paternalistic view, stemming from crowding-out externalities, in addition to the paternalistic view. Analytical results show the additive property between the Pigouvian and the... Read More about Optimal sin taxes in the presence of income taxes and health care.

Optimal taxation, environment quality, socially responsible firms and investors (2019)
Journal Article
Renstrom, T., Spatarom, L., & Marsiliani, L. (2019). Optimal taxation, environment quality, socially responsible firms and investors. International review of environmental and resource economics, 13(3-4), 339-373. https://doi.org/10.1561/101.00000112

We characterize the optimal pollution-, capital- and labour-tax structure in a continuous-time model in the presence of pollution (resulting from production), both in the first- and second-best, allowing investors to be driven by social responsibilit... Read More about Optimal taxation, environment quality, socially responsible firms and investors.

Tax Reform, Unhealthy Commodities and Endogenous Health (2017)
Working Paper
Wang, J., Marsiliani, L., & Renstrom, T. (2017). Tax Reform, Unhealthy Commodities and Endogenous Health

This paper explores how tax reforms with taxes on unhealthy commodities impact consumer behaviours and welfare when individual health is endogenised. We employ a dynamic general equilibrium model which includes both goods and health sectors. Although... Read More about Tax Reform, Unhealthy Commodities and Endogenous Health.

Political institutions and economic growth (2007)
Journal Article
Marsiliani, L., & Renstrom, T. (2007). Political institutions and economic growth. Economics of Governance, 8(3), 233-261. https://doi.org/10.1007/s10101-007-0038-z

We analyze the impact of micro-founded political institutions on economic growth in an overlapping-generations economy, where individuals differ in preferences over a public good (as well as in age). Labour- and capital taxes finance the public good... Read More about Political institutions and economic growth.

The role of government commitment for environmental policy and capital movements (2006)
Journal Article
Marsiliani, L., & Renström, T. (2006). The role of government commitment for environmental policy and capital movements. BE Journal of Macroeconomics, 6(3), Article 8. https://doi.org/10.2202/1534-5998.1229

This paper explores the relationship between environmental protection and international capital movements, when tax policy is endogenous (through voting). A two-period general equilibrium model of a small open economy is specified to compare the effe... Read More about The role of government commitment for environmental policy and capital movements.

Optimal dynamic taxation with indivisible labour (2004)
Journal Article
Basu, P., Marsiliani, L., & Renström, T. (2004). Optimal dynamic taxation with indivisible labour. Manchester School, 72(s1), 34-54. https://doi.org/10.1111/j.1467-9957.2004.00418.x

How should a government arrange taxes on labour and capital over time? To provide an answer, we develop the field of optimal dynamic taxation further by (i) incorporating indivisible labour and (ii) analysing the short-run dynamics of the capital and... Read More about Optimal dynamic taxation with indivisible labour.