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Optimal Carbon Taxation and Horizontal Equity : A Welfare-Theoretic Approach with Application to German Household Data

Hänsel, Martin C.; Franks, Max; Kalkuhl, Matthias; … - 2021

We develop a model of optimal carbon taxation and redistribution taking into account horizontal equity concerns by considering heterogeneous energy efficiencies. By deriving first- and secondbest rules for policy instruments including carbon taxes, transfers and energy subsidies, we then...

Persistent link: https://www.econbiz.de/10013239565

Estimating the marginal abatement costs of carbon dioxide emissions in China : a parametric analysis

Du, Limin; Hanley, Aoife; Wei, Chu - 2013

This paper investigates the technical inefficiency, shadow price and substitution elasticity of CO2 emissions of China based on a provincial panel for 2001-2010. Using linear programming to calculate a quadratic parameterized directional output distance function, we show that China’s technical...

Persistent link: https://www.econbiz.de/10010211750

The effect of climate policy on productivity and cost pass-through in the German manufacturing sector

Hintermann, Beat; Žarković, Maja; Di Maria, Corrado; … - 2020

We investigate productivity and cost pass-through of German manufacturing firms using administrative data from 2001 to 2014. Our framework allows for the estimation of quantity-based production functions for multi-product firms while controlling for unobserved productivity shocks and unobserved...

Persistent link: https://www.econbiz.de/10012385375

Pass-through of CO<sub>2</sub> Emission Costs to Hourly Electricity Prices in Germany

Hintermann, Beat - 2014

I estimate the level of emissions cost pass-through to hourly wholesale electricity prices in Germany, based on spot market data. I control for contemporaneous shocks to demand and supply by constructing a detailed supply curve for fossil generation, and intersecting it with residual demand for...

Persistent link: https://www.econbiz.de/10013046575

Pricing Poseidon : extreme weather uncertainty and firm return dynamics

Kruttli, Mathias S.; Roth Tran, Brigitte; Watugala, … - 2019

We investigate the uncertainty dynamics surrounding extreme weather events through the lens of option and stock markets … by identifying market responses to the uncertainty regarding both potential hurricane landfall and subsequent economic … 5-10 percent, reflecting impact uncertainty. Using hurricane forecasts, we show that landfall uncertainty and potential …

Persistent link: https://www.econbiz.de/10012181922

The risk-adjusted carbon price

der Ploeg, Rick van; van den Bremer, Ton S. - 2021

analytical results, and offer analytical insights into numerical results on the effects of economic and damage ratio uncertainty …

Persistent link: https://www.econbiz.de/10013226500

Decomposing Climate Risks in Stock Markets

Zhang, Yuchen; Huang, Chengyu; Yang, Yuanchen - 2023

Climate change poses an unprecedented challenge to the world economy and the global financial system. This paper sets out to understand and quantify the impact of climate mitigation, with a focus on climate-related news, which represents an important information source that investors use to...

Persistent link: https://www.econbiz.de/10014344160

Extreme weather and risk preference : panel evidence from Germany

Kahsay, Goytom Abraha; Osberghaus, Daniel - 2016

Individual risk preference may change after experiencing external socio-economic or natural shocks. Theoretical predictions and empirical studies suggest that risk taking may increase or decrease after experiencing shocks. So far the empirical evidence is sparse, especially when it comes to...

Persistent link: https://www.econbiz.de/10011454120

The risk-adjusted carbon price

Bremer, Ton S. van den; Ploeg, Frederick van der - 2019

We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that incorporates the effects of uncertainties associated with climate and the economy from a calibrated DSGE model. We allow for different aversions to risk and intertemporal fluctuations,...

Persistent link: https://www.econbiz.de/10011996310

Risk perception of climate change : empirical evidence for Germany

Frondel, Manuel; Simora, Michael; Sommer, Stephan - 2017

The perception of risks associated with climate change appears to be a key factor for the support of climate policy measures. Using a generalized ordered logit approach and drawing on a unique data set originating from two surveys conducted in 2012 and 2014, each among more than 6,000 German...

Persistent link: https://www.econbiz.de/10011608005