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Transaction Trends - Cost of living improved despite more expensive groceries
- Macro economy
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Analysis of 150,000 Dutch households earning a salary provides insight into the development of the cost of living pressures. We examine the extent to which a household’s net income is consumed by fixed expenses and groceries. Grocery prices have increased significantly; households are spending more on them compared to seven years ago. Nevertheless, cost of living is improving because incomes have risen more sharply than fixed expenses and grocery expenses. The percentage of households that spend a large portion of their income on fixed expenses and groceries has decreased.
Transaction Trends -Cost of living pressures for Dutch households
- Macro economy
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Analysis of 340,000 Dutch households provides insight into the development of the cost of living for the first time. We examine the extent to which a household's net income is consumed by fixed expenses, making basic expenditures and coping with setbacks difficult.
Transaction Trends - Social housing tenants wholly spend lower housing costs
- Macro economy
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We study the effects of lower housing costs on expenditures by examining the income-dependent rent reduction of 2023. The income-dependent rent reduction is partly offset by a lower housing allowance, and the remaining portion is fully consumed. The net rent reduction thus directly contributes to higher household consumption and is not used to build financial buffers. Our analysis also highlights significant challenges in implementing targeted income-dependent rent policies.
Transaction Trends - The cost of an energy crisis for households
- Macro economy
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Although extreme gas price increases occurred two years ago, the energy crisis of 2021-2023 is still fresh in our minds. How have household energy costs evolved during and after the energy crisis? It is well-known that not everyone felt the impact of higher energy prices at the same time, but where do we stand now, two years later?
ESG Economist - More consistent climate tax policies are necessary for the transition
- Sustainability
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On 1 July 2023, the Dutch Government raised the excise tax on fuels, reversing the cut in 2022. The former exacerbated the price difference between Dutch and German fuel by 14 cents per litre. This note examines whether Dutch households living near the German border responded differently to this policy change compared to households in the rest of the Netherlands. The findings reveal that households in the border region decreased their consumption of Dutch fuel more than households in the rest of the country by an additional 3.6 litres, per week. This suggests that people in the border region are more sensitive to relative fuel prices. When policies are not aligned, people (partly) shift their consumption towards the lower tax country. As we approach 2030, the first deadline for EU emissions’ reduction targets, aligning climate tax policies is important for effectively reducing emissions.
Ripple effects - Exploring the impact of low Rhine water levels on the Dutch economy
- Macro economy
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The Rhine, the busiest river in Europe, is of great economic importance. Due to drought, both in 2018 and 2022, there have been episodes where the water level in the Rhine has dropped to critical levels, severely limiting inland shipping. According to the Kiel Institute for the World Economy, in November 2018, low water levels led to a drop in industrial production by 1.5 percent, causing a decline of German GDP by 0.4 percent. 1)
SustainaWeekly - The impact of low Rhine water levels on the Dutch economy
- Sustainability
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The Rhine, the busiest river in Europe, is of great economic importance. However, climate change has increased the risk of extremely low water levels, which can and has impacted economic activity. In this edition of the SustainaWeekly we examine the impact of low water levels on freight volumes transported along the Rhine in the Netherlands and on Dutch industrial and construction output. We go on to assess the “implied temperature rise” scores of Sustainalytics across different sectors. Finally, we ask the question of whether extreme weather events are becoming ‘uninsurable’.
Electricity on the road to Net-Zero: challenges and solutions
- Sustainability
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Challenges caused by increasing electricity demand cannot be solved in the conventional way. The growing share of renewable energy introduces the challenge of intermittency problems. Solving the supply-demand mismatch requires a range of flexibility solutions. Solutions are energy storage, expanding networks, and flexible demand.
SustainaWeekly - Europe reacts with green industrial strategy
- Sustainability
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In this edition of the SustainaWeekly, we first focus on the EU’s green industrial plan, which was launched at the summit at the end of last week. In this note, we set out the main features of the strategy, which is widely seen as a response to the climate subsidies in the US and China. We go on to assess the challenges caused by increasing electricity demand and some possible solutions to it. We wrap up this publication by taking a closer look at the disappearance of greeniums in automotive bonds and by analysing trend in ESG bank bond issuance and pricing at the start of this year.
Electricity demand at turning point
- Sustainability
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Electricity demand was flat in OECD countries in the last 10 years. The demand for electricity will expand in the coming years due to decarbonization and prioritizing energy security. In all IEA and NGFS scenarios, but particularly in the Net-Zero by 2050, electricity demand rises.
