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To build or not to build? : capital stocks and climate policy

Baldwin, Elizabeth; Cai, Yongyang; Kuralbaeva, Karlygash Z. - 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 "irreversibility...

Persistent link: https://www.econbiz.de/10011794242

The consequences of unilateral withdrawals from the Paris Agreement

Larch, Mario; Wanner, Joschka - 2019

both direct and leakage effects, we find that a US withdrawal would eliminate a third of the world emissions reduction (25 ….7% direct effect and 7% leakage effect), while a potential Chinese withdrawal lowers the world emission reduction by 19.4% (8 …

Persistent link: https://www.econbiz.de/10012065052

How to finance climate change policies? : evidence from consumers' beliefs

D'Acunto, Francesco; Möhrle, Sascha; Neumeier, Florian; … - 2022

Climate change policies have been rising to the top of the global political agenda, but how should governments finance them? Public economists propose solutions based on economic theory, but their political feasibility depends on voters' support, and ordinary households often neglect economic...

Persistent link: https://www.econbiz.de/10013186775

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/10013472310

What policies address both the coronavirus crisis and the climate crisis?

Engström, Gustav; Gars, Johan; Jaakkola, Niko; … - 2020

The coronavirus pandemic has led many countries to initiate unprecedented economic recovery packages. Policymakers … tackling the coronavirus crisis have also been encouraged to prioritize policies which help mitigate a second, looming crisis …: climate change. We identify and analyze policies that combat both the coronavirus crisis and the climate crisis. We analyze …

Persistent link: https://www.econbiz.de/10012231506

Closing wells : fossil exploration and abandonment in the energy transition

Van den Bijgaart, I. M.; Rodríguez Acosta, Mauricio Andrés - 2020

Despite ambitious climate goals and already substantial stocks of developed fossil energy reserves, development of new fossil energy reserves continues to be high. This raises concerns, as it reinforces the fossil industry’s opportunities and incentives to continue extraction, and may...

Persistent link: https://www.econbiz.de/10012257735

The green paradox in open economies

Long, Ngo Van - 2014

This paper explains how, in the context of incomplete coordination among all countries, unilateral policies that might at first sight seem pro-green could actually turn out to harm the global environment. The free-riding motives and the difficulty of reaching an effective international...

Persistent link: https://www.econbiz.de/10010245993

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/10013285512

Climate damages in convergence-consistent growth projections

Harding, Tony; 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/10014292777

Oil trade and climate policy : presented at CESifo Area Conference on Energy and Climate Economics, October 2014

Curuk, Malik; Sen, Suphi - 2015

It has been argued that a depletable resource owner might optimally increase near-term supply in response to environmental policies promoting the development of alternative resources, which might render climate policy ineffective or even counterproductive. This paper empirically confirms this...

Persistent link: https://www.econbiz.de/10010498602

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