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Mr. Pragyan Deb, Davide Furceri, Mr. Jonathan David Ostry, and Nour Tawk

. Impact of recession (restricted sample with environmental policy data) 16. Impact of environmental protection stringency (EPS) 17. Impact by market vs non-market EPS 18. Impact of specific measures: Standards, feed-in-tariffs and trading schemes TABLES 1. Electricity share from renewables after recession

Mr. Pragyan Deb, Davide Furceri, Mr. Jonathan David Ostry, and Nour Tawk

of environmental protection stringency. The last section concludes. II. Recessions, obsolescence, and policies Recessions are associated with a sharp decline in energy demand and the COVID-19 pandemic is no exception (see Buechler et. al. 2020 ). Lower demand in turn leads to excess electricity supply; and since the storage options for electricity are limited, power plants tend to be shut down. This is specially the case for dirty coal-based plants, because of their older technology and higher marginal cost of operation (including fuel costs). Whether