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We develop a two sector incomplete markets integrated assessment model to analyze 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/10013281474
uses the World Input-Output Database (WIOD) to calibrate intersectoral trade between seven regions and 56 economic sectors …
Persistent link: https://www.econbiz.de/10012888142
Persistent link: https://www.econbiz.de/10015177284
In the intensifying public debate about limiting the harmful effects of climate change, many global corporations have recently articulated so-called “net-zero” goals for reducing and ultimately eliminating their own greenhouse gas emissions. We first examine the details ofthe carbon...
Persistent link: https://www.econbiz.de/10012549037
In the framework of the Paris Agreement implementation, financial transfers remain a major point of negotiation for addressing equity concerns raised by the ambitious climate objectives. In complement to the theoretical, experimental and numerical studies that have examined the role of transfers...
Persistent link: https://www.econbiz.de/10012431927
Persistent link: https://www.econbiz.de/10012487129
Weitzman (2014) proposed that focusing international climate negotiations on a uniform carbon price is more effective than Paris style negotiations in achieving ambitious climate action. We put this hypothesis to an experimental test by simulating international negotiations on climate change in...
Persistent link: https://www.econbiz.de/10012500178
We investigate how the U.S. withdrawal and the amendments of the Bonn climate policy conference in 2001 will change the economic and environmental impacts of the Kyoto Protocol in its original form. Based on simulations with a large-scale computable general equilibrium model, we find that U.S....
Persistent link: https://www.econbiz.de/10013428431
This paper proposes a quantitative multi-sector DSGE model with bank failure and firm default to study the interactions between bank regulation and climate policy. Households value the liquidity of deposits, which are protected by deposit insurance. Banks collect deposits and issue equity to...
Persistent link: https://www.econbiz.de/10014548624
We study climate change in a model with a carbon-intensive and a green sector, each subject to stochastic productivity shocks, and show how the underlying economic structure affects the risk-adjusted discount rate and the climate risk premium in the social cost of carbon (SCC). Consumption...
Persistent link: https://www.econbiz.de/10014559075