Wald, GuillaumeCohen, FrançoisKahn, Victor2024-04-102024-04-102024https://hdl.handle.net/2445/209600Vast amounts are being invested in the energy transition worldwide, with optimistic expectations of economic growth and green job creation. Yet, we crucially lack ex-post validations of the multiplier effects widely used to quantify new green jobs. Focusing on the French Energy Efficiency Obligations scheme, this paper provides the first ex-post estimate of the employment effect of a large energy-retrofit investment program. We exploit a discontinuity in the provision of subsidies and use a novel synthetic control method on disaggregated data to estimate regional-level employment effects. We estimate that the scheme created 1.4 jobs per million euros invested.47 p.application/pdfengcc-by-nc-nd, (c) Wald et al., 2024http://creativecommons.org/licenses/by-nc-nd/3.0/es/Transició energèticaSubvencionsCreació d'ocupacióEnergy transitionSubsidiesJob creationinfo:eu-repo/semantics/workingPaperinfo:eu-repo/semantics/openAccess