Tax expenditures are a major source of support for energy related to activities in the federal budget exceeding direct budget support for energy by a factor of nearly six. Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures...

We analyze both the uses side and the sources side incidence of domestic climate policy using an analytical general equilibrium model, taking into account the degree of government program indexing. When transfer programs such as Social Security are explicitly indexed to inflation, higher energy...

Metcalf and Stock (2023) find that an increase in carbon tax has a weakly positive effect on output and employment, along with a negative effect on C02 emissions over a 6-year horizon. The paper identifies a carbon tax shock and uses it to quantify the effect of a permanent unexpected increase...

The Paris Agreement has achieved one of two key necessary conditions for ultimate success - a broad base of participation among the countries of the world. But another key necessary condition has yet to be achieved - adequate collective ambition of the individual nationally determined...