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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...
Persistent link: https://www.econbiz.de/10012892222
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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 Social Cost of Carbon and Inequality : When Local Redistribution Shapes Global Carbon Prices
Kornek, Ulrike - 2019
characterize the relationship between climate and redistributional policy in an optimal taxation model that explicitly accounts for …
Persistent link: https://www.econbiz.de/10012870643
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Pricing for a Cooler Planet : An Empirical Analysis of the Effect of Taxing Carbon
Mideksa, Torben K. - 2021
increasing by 20 fold in 1990 - 2005. The estimates suggest that the carbon tax's abatement elasticity is about 9% …
Persistent link: https://www.econbiz.de/10013219618
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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
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The Social Cost of Carbon with Intragenerational Inequality Under Economic Uncertainty
van der Ploeg, Rick; Emmerling, Johannes; Groom, Ben - 2022
A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...
Persistent link: https://www.econbiz.de/10014082790
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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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Understanding the Estimation of Oil Demand and Oil Supply Elasticities
Kilian, Lutz - 2020
elasticities and of incorporating this information into structural VAR models. I not only summarize the state of the literature … conclusion that the one-month oil supply elasticity is close to zero, which implies that oil demand shocks are the dominant …
Persistent link: https://www.econbiz.de/10012822493
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City Size, Pollution and Emission Policies
Pflüger, Michael - 2020
modelling of pollution and pollution abatement. We derive two key insights. First, if the national government implements a … permit system (equivalently, pollution taxes) that allow for emissions as in the first-best, cities chosen by local …-best emission policy and extensions to city asymmetries, a fiscal externality, local pollution, generalized commuting costs and …
Persistent link: https://www.econbiz.de/10012827112
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Co2 Emissions and GDP : Evidence from China
Caporale, Guglielmo Maria - 2019
This paper examines the relationship between the logarithms of CO2 emissions and real GDP in China by applying fractional integration and cointegration methods. The univariate results indicate that the two series are highly persistent, their orders of integration being around 2, whilst the...
Persistent link: https://www.econbiz.de/10012860770