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The Effects of Financial Development on Income Inequality and Poverty

Kappel, Vivien - 2010

This paper examines the effects of financial development on income inequality and poverty. The results of both cross …-country and panel data regressions suggest that inequality and poverty are reduced not only through enhanced loan markets, but … robust determinants of both income inequality and poverty. Finally, we find evidence that government spending leads to a …

Persistent link: https://www.econbiz.de/10011753191

Effectiveness of renewable energy subsidies in a CO2 intensive electricity system

Pattakou, Aimilia; Vlahakis, Aryestis - 2018

Can subsidies to renewable energy effectively internalise CO2 costs in electricity production? Under current policy design it only matters that the replaced energy is dirty, but not how dirty it is. We use a modified peak-load pricing model, including variable renewable generators and the...

Persistent link: https://www.econbiz.de/10011985377

Permit markets, carbon prices and the creation of innovation clusters

Gersbach, Hans; Riekhof, Marie-Catherine - 2018

Innovation clusters combining public and private effort to develop breakthrough technologies promise greater technological advances to slow down climate change. We use a multi-country model with emissions permit trade to examine how international climate policy can incentivize countries to...

Persistent link: https://www.econbiz.de/10011985385

The intergenerational incidence of green tax reform

Rausch, Sebastian; Yonezawa, Hidemichi - 2018

We examine the lifetime incidence and intergenerational distributional effects of an economywide carbon tax swap using a numerical dynamic general equilibrium model with overlapping generations of the U.S. economy. We highlight various fundamental choices in policy design including (1) the level...

Persistent link: https://www.econbiz.de/10011853966

The political economy of negotiating international carbon markets

Arvaniti, Maria; Habla, Wolfgang - 2020

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/10012254805

Pricing carbon in a multi-sector economy with social discounting

Kalsbach, Oliver; Rausch, Sebastian - 2021

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/10012608682

Between- and within-country distributional impacts from harmonizing carbon prices in the EU

Landis, Florian; Fredriksson, Gustav; Rausch, Sebastian - 2021

This paper examines the distributional impacts from (i) harmonizing prices for carbon dioxide emissions across sectors and EU countries and (ii) using alternative rules for carbon revenue distribution. We develop a numerical multi-country multi-sector general equilibrium model of the EU-27...

Persistent link: https://www.econbiz.de/10012608683

Green technology policies versus carbon pricing: An intergenerational perspective

Rausch, Sebastian; Yonezawa, Hidemichi - 2021

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/10012608684

The macroeconomics of clean energy subsidies

Casey, Gregory; Jeon, Woongchan; Traeger, Christian - 2023

We study clean energy subsidies in a quantitative climate-economy model. Clean energy subsidies decrease carbon emissions if and only if they lower the marginal product of dirty energy. The constrained-efficient subsidy equals the marginal external cost of dirty energy multiplied by the marginal...

Persistent link: https://www.econbiz.de/10014476219

Patent protection and the transition to clean technology

Alsina-Pujols, Maria; Hovdahl, Isabel - 2023

We analyze the use of patent protection as a new policy to direct technical change to clean technology. Contrary to popular belief, it is dirty (and not clean) innovations that should be excluded from patent protection to reduce emissions. In the shortrun, removing patent protection on dirty...

Persistent link: https://www.econbiz.de/10014476365