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Accounting for nearly 8% of global annual carbon dioxide (CO2) emissions, the cement industry is considered difficult to decarbonize. While a sizeable number of abatement levers for Portland cement production are technologically ready for deployment, many are still viewed as prohibitively...
Persistent link: https://www.econbiz.de/10014311753
The Paris Agreement established a new mechanism by which a country can offset some of its emissions reductions in other countries. Its design is still under negotiation. While taking advantage of cheaper abatement opportunities enables efficiency gains, the impact on the price volatility in the...
Persistent link: https://www.econbiz.de/10012304834
In a dynamic, three-region environmental multi-sector general equilibrium model (called EMuSe), we find that carbon pricing generates a recession initially as production costs rise. Benefits from lower emissions damage materialize only in the medium to long run. A border adjustment mechanism...
Persistent link: https://www.econbiz.de/10013259654
This paper examines how optimal renewable energy (RE) support (RES) policies need to be adjusted to account for carbon prices. We show theoretically and empirically that changing carbon prices requires adjusting RE production subsidies due to two different motives: First, RE premiums need to be...
Persistent link: https://www.econbiz.de/10012534624
In light of increased economic integration and global warming, addressing critical issues such as the role of multilateral climate policies and the strategic interaction of countries in climate negotiations becomes paramount. We thus established for this paper an open economy environmental...
Persistent link: https://www.econbiz.de/10012174121
We show the importance of emission disclosure for climate policies in a DSGE model for the euro area. A low-carbon energy and a fossil energy sector contribute to production and are financed by balance-sheet constrained intermediaries. The underestimation of emissions from fossil energy firms...
Persistent link: https://www.econbiz.de/10014467912
It is widely believed that an environmental tax (price regulation) and cap-and-trade (quantity regulation) are equally …. Emissions are lower and material welfare is higher with price regulation. Furthermore, quantity regulation gives rise to … to reduce pollution, while price regulation makes these efforts effective. …
Persistent link: https://www.econbiz.de/10012500312
International carbon markets are frequently propagated as an efficient instrument for reducing CO2 emissions. We argue that such markets, despite their desirable efficiency properties, might not be in the best interest of governments who are guided by strategic considerations in negotiations. We...
Persistent link: https://www.econbiz.de/10012215277
regulation hypothesis and Porter Hypothesis. …
Persistent link: https://www.econbiz.de/10013202842
Economists tend to view a uniform emissions price as the most cost-effective approach to reducing greenhouse gas emissions. This paper offers a different view, focusing on economies where society values the well-being of future generations more than private actors. Employing analytical and...
Persistent link: https://www.econbiz.de/10012596760