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Carbon Prices are Redundant in the 2030 EU Climate and Energy Policy Package
Aune, Finn Roar - 2019
In June 2018, an agreement between key EU institutions – the Commission, the European Parliament, and the European … Council – was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a … comprehensive assessment of the EU package, with its three main targets: lower greenhouse gas emissions, higher renewable share in …
Persistent link: https://www.econbiz.de/10012892222
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Optimal Carbon Pricing in General Equilibrium : Temperature Caps and Stranded Assets in an Extended Annual DSGE Model
van der Ploeg, Rick; Rezai, Armon - 2021
The general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for additional negative impacts of global warming on utility and productivity growth, mean reversion in the ratio of climate damages to production, labour-augmenting technical progress, and...
Persistent link: https://www.econbiz.de/10013225748
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Will the Centralisation of Carbon Pricing Revenue in the EU Lead to Laxer Climate Policy?
Fuest, Clemens; Meier, Volker - 2021
We analyse the economic impact of using carbon pricing revenue to fund the EU budget. Such a reform would redistribute … implemented, the low carbon countries will prefer a lower carbon price, i.e. laxer climate policy at the EU level, than before the … reform. For high carbon countries the opposite is true. As a result, EU climate policy becomes less ambitious and less …
Persistent link: https://www.econbiz.de/10013235113
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Effects of Carbon Pricing and Other Climate Policies on CO 2 Emissions
Kohlscheen, Emanuel; Moessner, Richhild; Takats, Elod - 2021
We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon taxes and emissions trading systems (ETS), as well as...
Persistent link: https://www.econbiz.de/10013323969
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The Social Cost of Carbon and Inequality : When Local Redistribution Shapes Global Carbon Prices
Kornek, Ulrike - 2019
The social cost of carbon is the central economic measure for aggregate climate change damages and functions as a metric for optimal carbon prices. Previous literature shows that inequality significantly influences the level of the social cost of carbon, but mostly neglects a major source of...
Persistent link: https://www.econbiz.de/10012870643
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On Differentiated Carbon Prices and Discount Rates
Anthoff, David; Dennig, Francis; Emmerling, Johannes - 2021
The consensus view amongst economists is that carbon prices, in order to be effcient, must be the same across the globe. But when there are inefficiencies in the allocation of capital so that consumers in different countries face different discount rates, we show that efficient carbon prices...
Persistent link: https://www.econbiz.de/10013215895
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Advancing Global Carbon Abatement with a Two-Tier Climate Club
Iverson, Terrence - 2022
unique and consists of the US and the EU. Global abatement achieved by the stable agreement is about 40 percent of the …
Persistent link: https://www.econbiz.de/10014081042
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Carbon Default Swap - Disentangling the Exposure to Carbon Risk Through CDS
Blasberg, Alexander; Kiesel, Ruediger; Taschini, Luca - 2022
Using Credit Default Swap spreads, we construct a forward-looking, market-implied carbon risk factor and show that carbon risk affects firms’ credit spread. The effect is larger for European than North American firms and varies substantially across industries, suggesting the market recognises...
Persistent link: https://www.econbiz.de/10014243102
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Comprehensive National Accounting for Carbon Emissions
Asheim, Geir B.; Yamaguchi, Rintaro - 2023
We consider the question of how to integrate carbon emissions in comprehensive national accounts for the purpose of indicating whether countries’ development is sustainable. We derive an expression for national saving which includes not only the national effect of current global emissions, but...
Persistent link: https://www.econbiz.de/10014346316
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Is Western European Agriculture Resilient to High Temperatures?
Massetti, Emanuele - 2019
We estimate a Ricardian model of Western European agricultural land values using farm-level data. We model the effect of temperature on land values using a flexible specification of daily mean temperature to test if there are temperature threshold effects. Results indicate that there are no...
Persistent link: https://www.econbiz.de/10012892286