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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
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The Green Industrial Revolution – Investment Pathways to Decarbonize the Industrial Sector in Europe
Zimmer, Markus; Hoffmann, Patrick - 2023
is invested in the EU. The largest single sector investments for the EU countries are required in the pulp & paper …
Persistent link: https://www.econbiz.de/10014347826
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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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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
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Europe Beyond Coal - An Economic and Climate Impact Assessment
Böhringer, Christoph - 2020
already regulated by the EU Emissions Trading System (ETS), and in some countries like Germany the phaseout of coal will be … welfare effects across EU member states. For Germany, coal phaseout combined with unilateral cancellation of allowances is …
Persistent link: https://www.econbiz.de/10012828789
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Discounting and Climate Policy
van der Ploeg, Rick - 2020
The social rate of discount is a crucial driver of the social cost of carbon (SCC), i.e. the expected present discounted value of marginal damages resulting from emitting one ton of carbon today. Policy makers should set carbon prices to the SCC using a carbon tax or a competitive permits...
Persistent link: https://www.econbiz.de/10012827663
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The Effects of Climate Change on a Small Open Economy
Economides, George - 2019
We investigate the impact of climate change on the macroeconomic performance of a small open economy. The setup is a new Keynesian dynamic stochastic general equilibrium model of a small open economy without monetary policy independence in which a climate module that interacts with the economy...
Persistent link: https://www.econbiz.de/10012888993
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Overlapping Climate Clubs Under Transaction Costs
Delfino Silva, Emilson - 2019
We examine the formation of multilateral, hub-and-spoke and bilateral international R&D strategic alliances (overlapping climate clubs) to reduce CO2 emissions. R&D provision in clubs produces two types of positive externalities: a global public good (i.e., reduction of CO2 emissions) and...
Persistent link: https://www.econbiz.de/10012892264
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Climate Change Expectations and Endogenous Economic Growth in the Dice Model
Ciesielski, Anna - 2019
This paper studies the investment based growth rate effects of climate change. The analysis is based on the Integrated Assessment Model DICE by Nordhaus (2008). I depart from the original model, in that endogenous investments into a knowledge stock drive economic growth. Due to a negative...
Persistent link: https://www.econbiz.de/10012865176
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Social Inequalities in Climate Change-Attributed Impacts of Hurrican Harvey
Smiley, Kevin T.; Noy, Ilan; Wehner, Michael; Frame, Dave; … - 2021
Climate change is already increasing the severity of extreme weather events such as with rainfall during hurricanes. But no research to date investigates if, and to what extent, there are social inequalities in current climate change-attributed flood impacts. Here, we use climate change...
Persistent link: https://www.econbiz.de/10013314666