Centre for Economic Policy Research Frederick van der Ploeg

Second-best Carbon Taxation in the Global Economy by Frederick van der Ploeg

Get Access Second-best Carbon Taxation in the Global Economy by Frederick van der Ploeg eBook in format PDF,ePub,Kindle and Audiobook

Second-best Carbon Taxation in the Global Economy

Author : Frederick van der Ploeg

Publisher : Centre for Economic Policy Research

Published : 2015

ISBN-10 :

ISBN-13 :

Number of Pages : 37 Pages

Language : en

Descriptions Second-best Carbon Taxation in the Global Economy

Unilateral second-best carbon taxes are analysed in a two-period, two-country model with international trade in final goods, oil and bonds. Acceleration of global warming resulting from a future carbon tax is large if the price elasticities of oil demand are large and that of oil supply is small. The fall in the world interest rate weakens this weak Green Paradox effect, especially if intertemporal substitution is weak. Still, green welfare rises if the fall in oil supply and cumulative emissions is strong enough. If the current carbon tax is too low, the second-best future carbon tax is set below the first best to mitigate adverse Green Paradox effects. Unilateral second-best optimal carbon taxes exceed the first-best taxes due to an import tariff component. The intertemporal terms of trade effects of the future carbon tax increase current and future tariffs and those of the current tax lower the current tariff. Finally, carbon leakage and globally altruistic and unilateral second-best optimal carbon taxes if non-Kyoto oil importers do not price carbon or price it too low are analysed in a three-country model of the global economy.

Keyword :

Read Online Second-best Carbon Taxation in the Global Economy pdf

Download Second-best Carbon Taxation in the Global Economy epub

Second-best Carbon Taxation in the Global Economy Audiobook Download

Listen Second-best Carbon Taxation in the Global Economy book

Download Second-best Carbon Taxation in the Global Economy Audiobook

An electronic book, also known as an e-book or eBook, is a book publication made available in digital form, consisting of text, images, or both, readable on the flat-panel display of computers or other electronic devices. Although sometimes defined as "an electronic version of a printed book",some e-books exist without a printed equivalent. E-books can be read on dedicated e-reader devices, but also on any computer device that features a controllable viewing screen, including desktop computers, laptops, tablets and smartphones.

Results Second-best Carbon Taxation in the Global Economy

Back to Basics: What is Carbon Taxation? - IMF F&D - Carbon taxes have a central role in reducing greenhouse gases. Deterring the burning of fossil fuels is crucial to reducing the accumulation of heat-trapping greenhouse gases in the earth's atmosphere. A carbon tax could discourage the use of fossil fuels and encourage a shift to less-polluting fuels, thereby limiting the carbon dioxide (CO 2

Effects of a Carbon Tax on the Economy and the Environment - Lawmakers could increase federal revenues and encourage reductions in emissions of carbon dioxide (CO 2) by establishing a carbon tax, which would either tax those emissions directly or tax fuels that release CO 2 when they are burned (fossil fuels, such as coal, oil, and natural gas). Emissions of CO 2 and other greenhouse gases accumulate in the atmosphere and contribute to climate change

The Effects of Carbon Tax Policies on the US Economy and the Welfare of - The potential for utilizing a federal carbon tax to address the risks of climate change has been discussed in policy debates on both sides of the aisle. ... part of the Carbon Tax Research Initiative of Columbia University's SIPA Center on Global Energy Policy, comprises the second element of a two-part analysis of the effects of a

[PDF] Second-Best Renewable Subsidies to De-carbonize the Economy - Climate change must deal with two market failures: global warming and learning by doing in renewable energy production. The first-best policy consists of an aggressive renewables subsidy in the near term and a gradually rising and falling carbon tax. Given that global carbon taxes remain elusive, policy makers might have to rely on a second-best subsidy only. With credible commitment the

How the EU Carbon Border Tax Will Redefine Value Chains | BCG - BCG Global - When the tax is fully implemented in January 2026, the biggest initial impact will be on the cost of such high-carbon inputs as steel, cement, aluminum, chemicals, and electricity; EU importers and non-EU producers of these inputs will be required to pay an estimated €75 per metric ton of CO 2 emissions. This could increase the cost of materials made by more carbon-intensive producers, such

Why the US should establish a carbon price either through - A carbon price will help to ensure that companies can lead the new industries centered on low-carbon technologies that will become the lynchpin of the global economy in the coming

Addressing climate change through carbon taxes - World Economic Forum - Many economists have argued that carbon taxes are the most efficient and cost-effective way to curb climate change and address the problem of global warming. According to the Organisation for Economic Co-operation and Development (OECD), a carbon tax is "an instrument of environmental cost internalisation. It is an excise tax on the producers

What is carbon tax and will it help to limit emissions? | World - A carbon tax reflecting the social cost of carbon is viewed as an essential policy tool to limit carbon emissions, writes a World Bank economist. Some countries have a carbon tax, yet governments are often keener to adopt measures other than a tax. Carbon taxes only target carbon dioxide emitted from fossil fuels, leaving out other carbon

Five Things to Know about Carbon Pricing - IMF - Here are five things to know about carbon pricing. 1. Carbon pricing can be readily implemented. Carbon pricing, implemented through a tax on the carbon content of fossil fuels or on their carbon dioxide (CO 2) emissions, is straightforward to administer as an extension of existing fuel taxes. Carbon taxes can provide certainty about future

Now is the time to impose carbon taxes across the global economy - The mitigation costs from carbon taxes—primarily the costs of using cleaner technologies in place of fossil-based technologies—are manageable. By 2030 carbon taxes will make up about 0.5% of global GDP if the world stays on a path to limit global warming to 2°C. Indeed, the domestic environmental benefits of carbon pricing, like reductions

Tax Policy and Climate Change: IMF/OECD Report for the G20 - About. This report focuses on carbon pricing, taking stock of current pricing patterns, identifying reform needs to meet mitigation pledges, impacts, and opportunities, and comprehensive approaches to address political economy concerns. This report was submitted to G20 Finance Ministers and Central Bank Governors in September 2021 to inform

Fiscal policies for a low-carbon economy - Brookings - Fiscal policies for a low-carbon economy. Marcello Estevão Wednesday, June 23, 2021. Future Development. Global warming is real and climate disasters are believed to be occurring with higher

PDF Economic impacts of a carbon tax - Rabobank - The economic effects of a carbon tax are quantitatively assessed using the computable general equilibrium (CGE) model GTAP-E. CGE models allow us to analyse the economy-wide and sector- ... Contributions (NDCs) was expected to steer the world towards global warming of 3.2 degrees Celsius by the end of the century with a probability of 66%. The

How and Why a Global Carbon Tax Could Revolutionize International - The most straightforward and ambitious approach would be to introduce a global carbon tax at a uniform tax rate ( 75 USD per ton of CO2 emissions). Such a global carbon tax would bring an important shift in the approach to climate mitigation that has prevailed in international climate change law to date. This blog explains why

Carbon Taxes - American Economic Association - Carbon Taxes by Govinda R. Timilsina. Published in volume 60, issue 4, pages 1456-1502 of Journal of Economic Literature, December 2022, Abstract: There is a growing interest in using carbon taxes to reduce greenhouse gas emissions, not only in industrialized economies but also in developing

Green QE and carbon pricing: looking at potential tools to fight - For illustrative purposes, we assume a low carbon tax of USD 13.6 per tonne of CO 2 (which corresponds to USD 50 per tonne of carbon) and find that its impact is four times more effective than that of green QE (Chart 2). Our findings are broadly in line with those of other studies, for example Benmir and Roman (2020), and Ferrari and Landi (2022)

Global assessment of the carbon leakage implications of carbon ... - OECD - Data, research, outlooks and country reviews on environment including biodiversity, water, resource and waste management, climate change, global warming and consumption., 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

Professors explain the social cost of carbon | Stanford News - The short answer: The social cost of carbon is the cost of the damages created by one extra ton of carbon dioxide emissions. Burke: When we emit a ton of carbon dioxide in the atmosphere, it

Why is carbon pricing in some countries more successful than in others - Putting a price on carbon is the most effective economic tool for meeting the goals of the Paris Agreement on mitigating global climate change. While carbon taxes and emissions trading schemes are key policy instruments in climate change mitigation, the level of carbon prices varies widely and there is too little coverage of emissions to achieve the targets of the Paris Agreement

What is carbon tax and will it help to limit emissions - The carbon tax is generally levied on fossil fuels. Some countries have already adopted such a tax and discussions are ongoing in others. There are proponents of a global carbon tax too. Yet, governments are often keener to adopt measures other than a tax to contain carbon emissions

How and Why a Global Carbon Tax Could Revolutionize - A global carbon tax would render preferential regimes as well as CBAMs unnecessary: if all countries agree on a uniform carbon price, carbon leakage risks would be eliminated. Second, the introduction of a global carbon tax would necessarily break with the bottom-up approach of the Paris Agreement

Fiscal policies for a low-carbon economy - Brookings - Price carbon better, and add green finance. To accelerate the low carbon transition, carbon pricing has been widely proposed, with many researchers and policymakers supporting this approach

Economic impacts of a carbon tax - Rabobank - The economic effects of a carbon tax are quantitatively assessed using the computable general equilibrium (CGE) model GTAP-E. CGE models allow us to analyse the economy-wide and sector- specific effects of external shocks and policy changes

Addressing climate change through carbon taxes | World - The taxing of GHG emissions encourages investment in renewable energy and leads to further technological developments. In recent years, evidence has shown that technology and innovation have made solar energy more efficient and effective for the purpose of reducing the costs of pollution

Back to Basics: What is Carbon Taxation? – IMF F&D - More than 50 carbon tax and emission trading systems now operate at the regional, national, and subnational levels, but the global average carbon price is only $2 a ton, far short of what is needed. Ministries of finance will need carefully crafted policy packages to provide broader and stronger mitigation incentives, accounting for national