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The Social Cost of Carbon and the Ramsey Rule

Withagen, Cees - 2019

The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth...

Persistent link: https://www.econbiz.de/10012892228

Carbon Taxes : Their Macroeconomic Effects and Prospects for Global Adoption: A Survey of the Literature

Gandhi, Ved P. - 1998

The carbon tax is a major instrument for curbing greenhouse gas emissions that cause global warming. Yet its adoption has been limited because of concerns over its effects on economic growth, income distribution, and international competitiveness. The paper shows that policymakers can minimize...

Persistent link: https://www.econbiz.de/10014403416

Sever, Can; Perez-Archila, Manuel - 2021

This paper builds a framework to quantify the financial stability implications of climate-related transition risk in Colombia. We explore risks imposed on the banking system based on scenarios of an increase in the domestic carbon tax by using bank- and firm-level data. Focusing on the...

Persistent link: https://www.econbiz.de/10012796249

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

Reconsidering climate mitigation policy in the UK

Arregui, Nicolas; Parry, Ian W. H. - 2020

The UK has pledged to cut greenhouse gases 57 percent below 1990 levels by 2030, to be emisisons neutral by 2050, and to phase out internal combustion engine vehicles by 2030. Much progress has been made, but fully achieving these ambitious objectives with the current policy framework will be...

Persistent link: https://www.econbiz.de/10012485949

Still not getting energy prices right : a global and country update of fossil fuel subsidies

Parry, Ian W. H.; Black, Simon; Vernon, Nate - 2021

Persistent link: https://www.econbiz.de/10012796730

Climate action to unlock the inclusive growth story of the 21st century

Bhattacharya, Amarendra; Ivanyna, Maksym; Oman, William; … - 2021

Climate change is a major threat to the sustainability and inclusiveness of our societies, and to the planet's habitability. A just transition to a low-carbon economy is the only viable way forward. This paper reviews the climate change challenge. It stresses the criticality of systems changes...

Persistent link: https://www.econbiz.de/10012612346

Limits to private climate change mitigation

Elmalt, Dalya; Igan, Deniz; Kirti, Divya - 2021

As climate change looms larger, many look to sustainable investing that incorporates environmental, social, and governance (ESG) concerns as part of the way forward. To assess scope for ESG-conscious investing to achieve climate change goals, we explore the link between emissions growth and ESG...

Persistent link: https://www.econbiz.de/10012605057

Mitigating climate change : growth-friendly policies to achieve net zero emissions by 2050

Jaumotte, Florence; Liu, Weifeng; McKibbin, Warwick J. - 2021

Background paper prepared for the October 2020 IMF World Economic Outlook. This paper provides a detailed presentation of the simulation results from the October 2020 IMF World Economic Outlook chapter 3 and an additional scenario with carbon pricing only for comparison with the comprehensive...

Persistent link: https://www.econbiz.de/10012605547

Financial regulation, climate change, and the transition to a low-carbon economy : a survey of the issues

Demekas, Dimitri G.; Grippa, Pierpaolo - 2021

There are demands on central banks and financial regulators to take on new responsibilities for supporting the transition to a low-carbon economy. Regulators can indeed facilitate the reorientation of financial flows necessary for the transition. But their powers should not be overestimated....

Persistent link: https://www.econbiz.de/10012794760