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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
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
. Equity, commodity, and distillate markets positively price returns, and equity market risk and returns are higher than for … commodity markets. Refining & marketing and equipment & service firms have the greatest equity market risk, while equipment … gas industry, diesel has the greatest risk and distillate return. Equity, commodity, and distillate returns are …
Persistent link: https://www.econbiz.de/10014240484
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
emission certificate regulation, and we consider the impact of changes in EU climate policy on the rest of the world as well as …
Persistent link: https://www.econbiz.de/10013235113
be effective, address equity and leakage concerns, and be reinforced by additional measures at the sectoral level. The …
Persistent link: https://www.econbiz.de/10013245631
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
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
It is widely acknowledged that the transition towards a zero-emissions economy requires electrification of energy-related processes across all sectors of the economy — so-called sector coupling. In our analysis we consider countries whose electricity sectors are regulated by a multilateral...
Persistent link: https://www.econbiz.de/10014358108
A simple integrated assessment framework that gives rules for the optimal carbon price, transition to the carbon-free era and stranded carbon assets is presented, which highlights the ethical, economic, geophysical and political drivers of optimal climate policy. For the ethics we discuss the...
Persistent link: https://www.econbiz.de/10012908688