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Slowing global warming requires countries to reduce carbon emissions, which imposes costs on their economies. To be effective, most countries must agree collectively to participate (e.g., the Paris Agreement, COP26). However, every country has an incentive not to comply and still reap the...
Persistent link: https://www.econbiz.de/10014077558
We examine the distributional and efficiency impacts of climate policy in the context of fiscal consolidation in a dynamic general-equilibrium overlapping generations model of the US economy. The model includes a disaggregated production structure, including energy sector detail and advanced...
Persistent link: https://www.econbiz.de/10010337844
We theoretically and numerically analyse the impacts for a small, open country with carbon abatement ambitions of joining a coalition with allowance trading. Besides welfare impacts for both the coalition and the small, open economy joining the coalition, we scrutinise how the studied policy...
Persistent link: https://www.econbiz.de/10012428926
We examine the lifetime incidence and intergenerational distributional effects of an economy wide 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...
Persistent link: https://www.econbiz.de/10012925560
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/10011806749
Recently, there has been growing concern that human activities may be affecting the global climate through growing atmospheric concentrations of greenhouse gases (GHG). Such swimming could have major impacts on economic activity and society. For the Nigerian case, the study uses multisector...
Persistent link: https://www.econbiz.de/10014095104
We use theoretical and numerical general equilibrium models to analyze the Regional Greenhouse Gas Emission Initiative (RGGI), a cap-and-trade scheme to limit carbon dioxide emissions from electricity generators across ten states in the northeast U.S. Although RGGI’s economic impacts are...
Persistent link: https://www.econbiz.de/10014205486
This paper proposes a fixed price auction mechanism to overcome asymmetric information problem considering firms with heterogeneous emission abatement costs. When facing fixed price permit auction and emission trading market, firms will make trade-offs between buying permits at fixed price and...
Persistent link: https://www.econbiz.de/10012911396
This study assesses the global economic consequences of climate-related risk in three broad areas: (1) the macroeconomic impacts of physical climate risk due to chronic climate change associated with global temperature increases and climate-related extreme shocks; (2) the macroeconomic effects...
Persistent link: https://www.econbiz.de/10013235452
We examine the impact of a unilateral carbon tax in developed countries focusing on the expected size of carbon leakage (an increase in emissions in non-taxing regions as a result of the tax) and the effects on leakage of border tax adjustments. We start by analyzing the problem using a simple...
Persistent link: https://www.econbiz.de/10013105737