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Using a Free Permit Rule to Forecast the Marginal Abatement Cost of Proposed Climate Policy
Meng, Kyle C. - 2016
This paper develops a method for forecasting the marginal abatement cost (MAC) of climate policy using three features of the failed Waxman-Markey bill. First, the MAC is revealed by the price of traded permits. Second, the permit price is estimated using a regression discontinuity design (RDD)...
Persistent link: https://www.econbiz.de/10012456421
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Industry Compensation Under Relocation Risk : A Firm-Level Analysis of the EU Emissions Trading Scheme
Martin, Ralf - 2013
this practice results in substantial overcompensation for given carbon leakage risk. Efficient permit allocation reduces …
Persistent link: https://www.econbiz.de/10012459564
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Market-Based Emissions Regulation and Industry Dynamics
Fowlie, Meredith - 2012
cement industry. We consider several alternative policy designs, including mechanisms that use production subsidies to … and allocative inefficiencies due to market power in the domestic cement market counteract the social benefits of carbon … abatement. Second, trade exposure to unregulated foreign competitors leads to emissions "leakage" which offsets domestic …
Persistent link: https://www.econbiz.de/10012460015
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Climate Policy and the Economy : Evidence from Europe's Carbon Pricing Initiatives
Känzig, Diego R.; Konradt, Maximilian - National Bureau of Economic Research - 2023
explain this difference: fiscal policy and revenue recycling, pass-through and sectoral coverage, spillovers and leakage, and …
Persistent link: https://www.econbiz.de/10014287360
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Inferring Carbon Abatement Costs in Electricity Markets : A Revealed Preference Approach using the Shale Revolution
Cullen, Joseph A. - 2014
This paper examines how much carbon emissions from the electricity industry would decrease in response to a carbon price. We show how both carbon prices and cheap natural gas reduce, in a nearly identical manner, the historic cost advantage of coal-fired power plants. The shale revolution has...
Persistent link: https://www.econbiz.de/10012457871
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The Macroeconomic Impact of Europe’s Carbon Taxes
Metcalf, Gilbert E. - 2020
Policy makers often express concern about the impact of carbon taxes on employment and GDP. Focusing on European countries that have implemented carbon taxes over the past 30 years, we estimate the macroeconomic impacts of these taxes on GDP and employment growth rates for various specifications...
Persistent link: https://www.econbiz.de/10012481343
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The Unequal Economic Consequences of Carbon Pricing
Känzig, Diego R. - National Bureau of Economic Research - 2023
This paper studies the economic impacts of carbon pricing. Exploiting institutional features of the European carbon market and high-frequency data, I document that a tighter carbon pricing regime leads to higher energy prices, lower emissions and more green innovation. This comes at the cost of...
Persistent link: https://www.econbiz.de/10014287322
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Pass-through of Emissions Costs in Electricity Markets
Fabra, Natalia - 2013
We measure the pass-through of emissions costs to electricity prices and explore its determinants. We perform both reduced-form and structural estimations based on optimal bidding in this market. Using rich micro-level data, we estimate the channels affecting pass-through in a flexible manner,...
Persistent link: https://www.econbiz.de/10012459048
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What Would it Take to Reduce US Greenhouse Gas Emissions 80% by 2050?
Heal, Geoffrey - 2016
I investigate the cost and feasibility of reducing US GHG emissions by 80% from 2005 levels by 2050. The US has stated in its Paris COP 21 submission that this is its aspiration. I suggest that this goal can be reached at a cost in the range of $37 to $135 bn/year. I assume that the goal is to...
Persistent link: https://www.econbiz.de/10012456154
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Non-Monetary News in Central Bank Communication
Cieslak, Anna - 2018
We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central banks and a comprehensive classification of events, we decompose news conveyed by central banks into news about monetary policy, economic growth, and separately, shocks to risk...
Persistent link: https://www.econbiz.de/10012480685