Found 5 article(s) for author 'climate policy'

Measuring the Macroeconomic Impact of Carbon Taxes

Measuring the Macroeconomic Impact of Carbon Taxes. James Stock, 2020, Paper, “Economists have long argued that a carbon tax is a cost effective way to reduce greenhouse gas emissions. Increasingly, members of Congress agree. In 2019, seven carbon tax bills were filed in Congress (Kaufman et al., 2019). In addition, the Climate Leadership Council has built bipartisan support for a carbon tax and dividend plan (Baker et al., 2017). In contrast, the Trump Administration is retreating from any climate policy and has taken steps to withdraw from the Paris Accord, citing heavy economic costs to the U.S. economy from meeting the U.S. commitments made during the Obama Administration. In his June 1, 2017 statement on the Accord, for example, the President claimed that the cost to the economy would be “close to $3 trillion in lost GDP and 6.5 million industrial jobs…” Link

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Carbon Tax Review and Updating: Institutionalizing an Act-Learn-Act Approach to U.S. Climate Policy

Carbon Tax Review and Updating: Institutionalizing an Act-Learn-Act Approach to U.S. Climate Policy. Joseph Aldy, 2019, Paper, “The design of climate change policy faces the challenge of several key uncertainties. First, the potential benefits of reducing carbon dioxide (CO2) and other greenhouse gas (GHG) emissions are characterized by an array of uncertainties related to long-term economic growth, climate sensitivity, the effectiveness of emissions mitigation policy, and the climate risk mitigation actions undertaken through adaptation and geoengineering (Interagency Working Group on the Social Cost of Carbon 2010; Greenstone, Kopits, and Wolverton 2013; Aldy 2015; Taylor 2015). Second, the potential costs of reducing emissions are characterized by uncertainties about the relative costs of low-carbon and carbon-intensive energy sources, technological innovation, consumer responsiveness to energy price changes, as well as the cost-effectiveness of policy design (Aldy et al. 2010). Third, the distributional consequences of climate change and climate policy responses are also characterized by uncertainty (Burtraw, Sweeney, and Walls 2009; Metcalf 2009; Rausch et al 2011; Carleton et al. 2018). Finally, the competitiveness impacts of emissions mitigation policy are uncertain and may vary with the relative stringency of policies around the world, transportation costs, and the energy intensity of manufacturing (Ederington, Levinson, and Minier 2005; Aldyand Pizer 2015; Aldy2017b).Link

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Lawrence Summers on Carbon Dividends, Border Tax, Trade

Lawrence Summers on Carbon Dividends, Border Tax, Trade. Lawrence Summers, June 20, 2017, Video, “Lawrence Summers, Harvard University Charles W. Eliot Professor and Former U.S. Treasury Secretary, discusses carbon dividends, a border adjustment tax, and U.S. trade agreements. He speaks with Bloomberg’s David Westin on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)Link


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Long-term Carbon Policy: The Great Swap

Long-term Carbon Policy: The Great Swap. Joseph Aldy, November 2016, Paper, “In the past two decdes, the mounting risks posed by climate change have motivated businesses, cities, states, national governments, and the international community to pledge to take action to reduce their greenhouse gas emissions. Given the scale of the problem, the breadth of action must be effective and must set the foundation for increasing mitigation efforts over time. Thus, delivering on these pledges will require effective policies to drive the deployment of low-carbon technologies today and technological innovation in the future to ramp ambition up on par with the risks of climate change.Link

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