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Estimated Human Capital Externalities in an Endogenous Growth Framework
Malley, James R. - 2019
To better understand the quantitative implications of human capital externalities at the aggregate level, we estimate a … distributions. Using U.S. quarterly data from 1964-2017, we find significant positive externalities to aggregate human capital. Our …
Persistent link: https://www.econbiz.de/10012871759
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Asset Pricing and the Carbon Beta of Externalities
Edenhofer, Ottmar; Lessmann, Kai; Tahri, Ibrahim - 2021
Climate policy needs to set incentives for actors who face imperfect, distorted markets and large uncertainties about the costs and benefits of abatement. Investors price uncertain assets according to their expected return and risk (carbon beta). We study carbon pricing and financial incentives...
Persistent link: https://www.econbiz.de/10013214337
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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 Embedded in Trade : Trends and Fossil Fuel Drivers
Weber, Sylvain - 2019
The amount of CO2 embedded in trade has substantially increased over the last decades. We study the trends and some drivers of the carbon content of trade over the period 1995-2009. Our main findings are the following. First, the mix of traded goods tends to have higher emission intensity than...
Persistent link: https://www.econbiz.de/10012889755
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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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The Role of Human Capital in Structural Change and Growth in an Open Economy : Innovative and Absorptive Capacity Effects
Bye, Brita; Faehn, Taran - 2021
Since the financial crisis in 2008, slow growth has riddled Europe and the Covid-19 pandemic is amplifying the challenge. Promoting economic growth and transforming to a more knowledge-based industrial structure will be high on the agenda for the coming decades. We study how more and better...
Persistent link: https://www.econbiz.de/10013249658
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Redistributive Income Taxation with Directed Technical Change
Loebbing, Jonas - 2021
What are the implications of (endogenous) directed technical change for the design of redistributive income taxes? I study this question in a Mirrleesian economy augmented to include endogenous technology development and adoption choices by firms. Under certain conditions, any progressive tax...
Persistent link: https://www.econbiz.de/10013314849
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Fiscal Competition in Space and Time : An Endogenous-Growth Approach
Becker, Daniel Thomas; Rauscher, Michael - 2021
Is tax competition good for economic growth? The paper addresses this question by means of a simple model of endogenous growth. There are many small jurisdictions in a large federation and individual governments benevolently maximise the welfare of immobile residents. Investment is costly:...
Persistent link: https://www.econbiz.de/10013316964
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Stranded Assets in the Transition to a Carbon-Free Economy
van der Ploeg, Rick - 2020
Assets in the fossil fuel industries are at risk of losing market value due to anticipated breakthroughs in renewable technology and governments stepping up climate policies in the light of the Paris commitments to limit global warming to 1.5 or 2 degrees Celsius. Stranded assets arise due to...
Persistent link: https://www.econbiz.de/10012843436
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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