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Acharya, Viral V.; Berner, Richard; Engle, Robert F.; … - 2023

We explore the design of climate stress tests to assess and manage macro-prudential risks from climate change in the financial sector. We review the climate stress scenarios currently employed by regulators, highlighting the need to (i) consider many transition risks as dynamic policy choices;...

Persistent link: https://www.econbiz.de/10014358374

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...

Persistent link: https://www.econbiz.de/10012892222

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

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 from countries with above average carbon intensive production to less carbon intensive countries. Once the reform is implemented, the low carbon countries will prefer a lower...

Persistent link: https://www.econbiz.de/10013235113

Climate Mitigation Policy in Denmark : A Prototype for Other Countries

Batini, Nicoletta; Parry, Ian; Wingender, Philippe - 2021

Denmark has a highly ambitious goal of reducing greenhouse gas emissions 70 percent below 1990 levels by 2030. While there is general agreement that carbon pricing should be the centerpiece of Denmark’s mitigation strategy, pricing needs to be effective, address equity and leakage concerns,...

Persistent link: https://www.econbiz.de/10013245631

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

Advancing Global Carbon Abatement with a Two-Tier Climate Club

Iverson, Terrence - 2022

A two-tier climate club exploits the comparative advantage of large countries to mete out punishments through trade, while taking their capacity to resist punishment as a constraint. Countries outside the coalition price carbon at a fixed fraction of the average carbon price adopted within the...

Persistent link: https://www.econbiz.de/10014081042

Climate Change Mitigation : How Effective is Green Quantitative Easing?

Abiry, Raphael; Ferdinandusse, Marien; Ludwig, Alexander; … - 2022

We develop a two sector incomplete markets integrated assessment model to analyse the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...

Persistent link: https://www.econbiz.de/10014081044

The Green Industrial Revolution – Investment Pathways to Decarbonize the Industrial Sector in Europe

Zimmer, Markus; Hoffmann, Patrick - 2023

understand sectoral reduction potentials to efficiently promote industry decarbonization using the instruments at their disposal … frameworks to study investment pathways consistent with a net zero industry transformation. We find that a mix of measures … industry with EUR 78.4bn until 2050 - followed by iron & steel (EUR55.4bn) and cement (EUR37.6bn). The achievable emission …

Persistent link: https://www.econbiz.de/10014347826

EU ETS and the New Green Paradox

Rosendahl, Knut Einar - 2019

With the new rules of the EU ETS, involving cancellation of allowances, cumulative emissions are no longer fixed but depending on the market outcome. Perino (2018) showed that additional abatement effort can reduce cumulative emissions if it occurs within a few years. This article shows that...

Persistent link: https://www.econbiz.de/10012866399

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