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An Economic Anatomy of Optimal Climate Policy
Moreno-Cruz, Juan; Wagner, Gernot; Keith, David W. - 2018
This paper introduces geoengineering into an optimal control model of climate change economics. Together with mitigation and adaptation, carbon and solar geoengineering span the universe of possible climate policies. Their wildly different characteristics have important implications for climate...
Persistent link: https://www.econbiz.de/10011872116
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Can Degrowth Overcome the Leakage Problem of Unilateral Climate Policy?
Larch, Mario; Löning, Markus; Wanner, Joschka - 2017
increases in other countries. Different than most typically discussed climate policies, degrowth not only aims at reducing the … implications. We conduct the first investigation of degrowth in a multi-country setting in order to (i) compare the leakage effects … of national pure emission reduction policies to degrowth scenarios, (ii) identify underlying channels by decomposing the …
Persistent link: https://www.econbiz.de/10011744939
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Do We Still Need Carbon-Intensive Capital When Transitioning to a Green Economy?
Jin, Wei; van der Ploeg, Rick; Zhang, Lin - 2020
This paper presents a two-sector green endogenous growth model to explore a mechanism that explains why carbon-intensive capital is not necessarily shut down during transition to a green economy. Without accumulating clean capital to offset carbon emissions, a tightening of climate regulation...
Persistent link: https://www.econbiz.de/10012425651
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Steering the Climate System : An Extended Comment
Mattauch, Linus - 2019
Lemoine and Rudik (2017) argue that it is efficient to delay reducing carbon emissions, because there is substantial inertia in the climate system. However, this conclusion rests upon misunderstanding the relevant climate physics: there is no substantial lag between CO2 emissions and warming,...
Persistent link: https://www.econbiz.de/10012892116
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Climate Finance Intermediation : Interest Spread Effects in a Climate Policy Model
Lessmann, Kai - 2020
Interest rates are central determinants of saving and investment decisions. Costly financial intermediation distort these price signals by creating a spread between the interest rates on deposits and loans with substantial effects on the supply of funds and the demand for credit. This study...
Persistent link: https://www.econbiz.de/10012830109
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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
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Climate Damages in Convergence-Consistent Growth Projections
Harding, Anthony; Moreno-Cruz, Juan; Quaas, Martin F.; … - 2023
Projections of climate change damages based on climate-econometric estimates suggest that, without mitigation, global warming could reduce average global incomes by over 20% towards the end of the century (Burke et al., 2015). This figure significantly surpasses climate damages in Integrated...
Persistent link: https://www.econbiz.de/10014347833
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Optimal Climate Policy As If the Transition Matters
Campiglio, Emanuele; Dietz, Simon; Venmans, Frank - 2022
The optimal transition to a low-carbon economy must account for adjustment costs in switching from dirty to clean capital, technological progress, and economic and climatic shocks. We study the low-carbon transition using a dynamic stochastic general equilibrium model with emissions abatement...
Persistent link: https://www.econbiz.de/10014264872
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Public Policies and Long-Run Growth in a Model with Environmental Degradation
Bonatti, Luigi; Lorenzetti, Lorenza Alexandra - 2022
We study how public policies affects an economy where production emits pollutants and investment in productive assets raises the economy's overall productivity. We explore two hypotheses about how the accumulation of pollutants affects human well-being. Under the first one, there is no limit to...
Persistent link: https://www.econbiz.de/10013177573
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To Build or Not to Build? Capital Stocks and Climate Policy
Baldwin, Elizabeth; Cai, Yongyang; Kuralbayeva, Karlygash - 2018
We investigate how irreversibility in “dirty” and “clean” capital stocks affects optimal climate policy, from both theoretical and numerical perspectives. An increasing carbon tax will reduce investments in assets that pollute, and so reduce emissions in the short term: our...
Persistent link: https://www.econbiz.de/10011815777