Jordi Schröder Bosch
@jordischroeder
PhD Candidate at FU Berlin, EQUALFIN doctoral program “Finance and Inequality in Times of Polycrisis” IMFS | Central Banking | Political Economy
The food sector is a cornerstone of the green transition, which, while technically easy to decarbonise (just don't eat ruminants), is culturally and politically much less so. How should we call it, culturally hard to abate sector? drawdown.org/insights/how...
Someone in the comments has an idea for what to do about this, really can't tell if this is sarcasm
Every day, we get another piece of news about how climate change is disrupting everything around us www.ft.com/content/3808...
Si aún queda alguien que piensa que la manifestación de los efectos del cambio climático llevará inevitablemente a la gente a posiciones ecologistas, le invito a que vaya a cualquier vídeo de youtube sobre los incendios y vea el magufismo conspiranoico que se está cociendo ahí. Dan ganas de llorar.
It is services and primary income which explain the narrowing of the CA in 2025, a CA, by the way, which has been in surplus since 2012 (with the exception of 2022). So I don't know, it feels rather weird for the EA to be asking any country to correct its imbalances.
Everyone is talking about a China shock 2.0 in Europe these days, but judging by this graph, we should rather be talking about the widening of the services trade deficit and the primary income deficit with the US. Overall, the euro area’s goods trade deficit is unchanged.
ACs are good and we should make use of them. But if we are going to spend three days ridiculing marginal European positions on AC, I would like to see the same mockery directed towards the energy consumption patterns of people living in the country at the top of this graph.
Main renewable source and main non-renewable source in electricity generation (2024):
Very cool charts in a recent ECB publication (www.ecb.europa.eu/pub/pdf/scpo...). On the change in electricity production in the EU by source:
Totalmente de acuerdo, tenemos que reducir la demanda energética. Ojalá existiera una tecnología capaz de reducir el 40% del consumo energético (y el 45% de emisiones) en España asociado al transporte.
Anyhow, the main point I always try to make is that starting from differential demand and performance is much more fruitful than the IMF's approach of treating the CA as the outcome of intertemporal S&I decisions (or being anchored in 2005 global savings glut debates like Martin Wolf)
As for the latter, competitiveness might be playing certain role there, as per ECB decompositions. In another publication other ECB researchers argue that recent increase in Chinese exports is explained by falling domestic demand.
In my defense I'll say that I keep banging about how convoluted the different discussions around the BoP are. But in general I would say things have not changed much? So if I had to write about this I would just start with a decomposition à la Schröder and see how much can just be explained by +
As much as I usually like Sandbu's columns, this paragraph reads as a Martin Wolf's column. So much of the language we use around the balance of payments is so convoluted that one loses touch with what is actually being said.
Prices in Latvia and Lithuania going from 0 to 400€/MWh tomorrow. If there was reincarnation, I would like to come back as a battery in the Baltics.
FT commentator: "It’s obviously wrong that private assets can be cajoled into funding state priorities" Private finance when it sees public finance instruments used to fund state priorities:
In awe of this unholy creation that I found at Lidl (Germany): cheese-stuffed chicken and pork meatloaf. A speedrun to colon cancer.
This graph should be hanging in every Brussels office as a sign of bloc-wide humiliation (even the US is deploying more than us c'mon)
Great to see the findings being shared in the New Economy Brief! www.neweconomybrief.net/the-digest/a...
Just as renewables surpass coal as a share of electricity generation, amazing timing
Therefore, system flexibility is key to further decoupling from gas. The good news: wind and solar make flexibility more attractive by increasing intraday price spreads.
There are limits in terms of how much wind and solar can, by themselves, lower prices. At high penetration, extra renewable generation often comes when supply is already abundant, with constraints and curtailment kicking in. Therefore, price effects concentrate in peak renewable hours.
But wholesale prices are only one component of the bill, does it matter? Yes. Retail prices include taxes, network costs, etc., but energy costs are the largest component and, more importantly, explain most of the increase in prices over time.