As has been amply documented by science and validated by the Intergovernmental Panel on Climate Change, global warming is a reality. In response to global warming, the interna- tional community has devised ambitious policies that are enshrined in the Kyoto Protocol and most recently, in the...

Fiscal policy plays a prominent role in climate change mitigation and adaptation. An optimal combination of revenue policies, in particular taxes, and expenditure policies, such as subsidies and investment, is essential in order to achieve greenhouse gas emissions targets. This paper analyses...

This paper studies the impact of national carbon taxes on CO2 emissions. To do so, we run local projections on a cross-country panel dataset, matching measures of emissions of carbon dioxide with information on the introduction of carbon taxes and their implied price. Importantly, we consider...

Environmental protection is one of Europe's key values. The EU has set clear policy objectives to achieve its environmental goals. The EU has favoured market-based instruments, among which fiscal instruments to tackle the climate change problem. This paper takes a policy-making perspective and...

We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon taxes and emissions trading systems (ETS), as well as...

Several EU member states are exploring options for setting minimum domestic carbon prices within the EU Emission Trading System (ETS). First, a "TAX" policy would introduce a carbon tax equal to the difference between the prevailing ETS price and the targeted minimum price. Second, a national...

New York is considering additional emission regulation on top of its obligations under the Regional Greenhouse Gas Initiative (RGGI) to achieve its State Energy Plan targets. The proposed measure is a so-called "carbon adder" on CO2 emissions from the power sector which is set as the difference...

Pursuant to the growth of society, against the boosting of scientific and technological progress, also arises the negative effect of pollution acceleration. In this context, we relate to risks that imply the growth of pollution, especially against nuisance air pollution increase (CO, SO2, NO...

Carbon leakage arises when emission reductions in countries applying a carbon tax are offset, partially or completely, by emission increases in countries that do not apply the tax or any other greenhouse gas (GHG) mitigation policies. Analysis using the MAGNET computable general equilibrium...