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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
Klimaschutz stellt aus Sicht der ökonomischen Theorie ein rein öffentliches Gut dar. Internationale Kooperation zum …. Dennoch scheint man in der Realität internationale Umweltabkommen beobachten zu können, die über das nicht … Zahlungsbereitschaft der Wähler für effektiven Klimaschutz gegenüber, wie Ergebnisse von Wählerbefragungen nahe legen. Ökonomen …
Persistent link: https://www.econbiz.de/10013428386
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
The green paradox conveys the idea that climate policies may have unintended side effects when taking into account the reaction of fossil fuel suppliers. In particular, carbon taxes that will be implemented in the future induce resource owners to extract more rapidly which increases present...
Persistent link: https://www.econbiz.de/10010429908
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
Technology policy is the most widespread form of climate policy and is often preferred over seemingly efficient carbon pricing. We propose a new explanation for this observation: gains that predominantly accrue to households with large capital assets and that influence majority decisions in...
Persistent link: https://www.econbiz.de/10014311913
I study the impact of subsidies for Plug-in hybrid vehicles (PHEV) on carbon emissions. I show that subsidizing innovations without considering consumer behavior can harm the environment. I provide descriptive evidence on charging instances of PHEV and combine it with a structural model of...
Persistent link: https://www.econbiz.de/10014334532
We propose a structural vector-autoregressive model for the German natural gas market to investigate the impact of the 2022 Russian supply stop on the German economy. We combine conventional and narrative sign restrictions to leverage information about supply cuts for identification and find...
Persistent link: https://www.econbiz.de/10014560154
While there is some hope that the ongoing climate change negotiations will soon come up with concrete, time scheduled and binding emission reduction commitments, the question of how to achieve these targets is still unsolved. The objective of this paper is to analyse alternative settings of an...
Persistent link: https://www.econbiz.de/10013428140