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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

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

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

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

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

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

City Size, Pollution and Emission Policies

Pflüger, Michael - 2020

This paper develops a model with an endogenous number of cities to explore whether local governments establish the optimal city size when key activities in the city are associated with emissions that harm consumers. In contrast to extant research, our model is fully micro-founded with respect to...

Persistent link: https://www.econbiz.de/10012827112

The Risk-Adjusted Carbon Price

van den Bremer, Ton S. - 2019

We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that incorporates the effects of uncertainties associated with climate and the economy from a calibrated DSGE model. We allow for different aversions to risk and intertemporal fluctuations,...

Persistent link: https://www.econbiz.de/10012872062

Optimal Energy Taxes and Subsidies under a Cost-Effective Unilateral Climate Policy : Addressing Carbon Leakage

Kruse-Andersen, Peter - 2019

We analyze how a country pursuing a unilateral climate policy may contribute to a reduction in global CO2 emissions in a cost-effective way. To do so its system of energy taxes and subsidies must account for leakage of emissions from the domestic to the foreign economy. We focus on leakage...

Persistent link: https://www.econbiz.de/10012859989

Endogenous Emission Caps Always Induce a Green Paradox

Gerlagh, Reyer - 2019

green paradox for a general model and then apply it to the details of EU ETS. In 2018, new rules for a Market Stability … model disciplined on the price rise in the EU ETS that followed the introduction of the MSR …

Persistent link: https://www.econbiz.de/10012861409