Journal: Climate Change Economics

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Publisher

World Scientific

Journal Volumes

ISSN

2010-0078
2010-0086

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2017 - 201932020 - 20232
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Publications 1 - 5 of 5
  • A Model Intercomparison of the Welfare Effects of Regional Coalitions for Ambitious Climate Mitigation Targets
    Item type: Journal Article
    Gökçe, Akin-Olçum; Ghosh, Madanmohan; Gilmore, Elisabeth; et al. (2023)
    Climate Change Economics
    This paper presents the overall and distributional welfare effects of alternative multi-regional emissions trading coalitions relative to unilateral action. It focusses on meeting Paris Agreement pledges and more emissions reduction targets consistent with 2 degrees C and 1.5 degrees C temperature pathways in 2030. The results from seven computable general equilibrium (CGE) models are compared. Across all models, welfare gains are highest with a global market and increase with the stringency of targets. All regional coalitions also show overall welfare gains, although lower gains than the global market. The models show more variability in the gains by a participant. Depending on the model, participants may benefit more from some regional arrangements than from a global market or face modest losses compared to the domestic reductions alone, due to interactions between carbon targets and fossil fuel markets. The scenario with a joint China-European Union emissions trading system in all sectors is consistently favorable for participants and provides the highest economic gains per unit of emissions abated.
  • An Empirical Assessment of Components of Climate Architectures
    Item type: Journal Article
    Meulemann, Max (2017)
    Climate Change Economics
  • Does the Adverse Announcement Effect of Climate Policy matter? - A dynamic general Equilibrium Analysis
    Item type: Journal Article
    Riekhof, Marie-Catherine; Bröcker, Johannes (2017)
    Climate Change Economics
  • The intergenerational incidence of green tax reform
    Item type: Journal Article
    Rausch, Sebastian; Yonezawa, Hidemichi (2018)
    Climate Change Economics
    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 level of the initial carbon tax, (2) the growth rate of the carbon tax trajectory of over time, and (3) alternative ways for revenue recycling. Without revenue recycling, we find that generations born before the tax is introduced experience smaller welfare losses, or even gain, relative to future generations. For sufficiently low growth rates of the tax trajectory, the impacts for distant future generations decrease over time. For future generations born after the introduction of the tax, the negative welfare impacts are the smallest (largest) when revenues are recycled through lowering pre-existing capital income taxes (through per-capita lump-sum rebates). For generations born before the tax is introduced, we find that lump-sum rebates favor very old generations and labor (capital) income tax recycling favors very young generations (generations of intermediate age).
  • Technology Treaties and Climate Change
    Item type: Journal Article
    Gersbach, Hans; Riekhof, Marie-Catherine (2022)
    Climate Change Economics
    We introduce an international technology treaty ('Tech Treaty') that couples the funding of research for a more advanced abatement technology with an international emissions permit market. While each country decides on domestic permit issuance, a fraction of these permits is auctioned by an international agency. Auction revenues scale up license revenues for the innovators of abatement technologies. We show that such a treaty increases innovations and decreases emissions under plausible conditions compared to an emissions trading system without additional technology agreement. Finally, we discuss how a Tech Treaty may inspire next steps in existing technology programs.
Publications 1 - 5 of 5