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The Macroeconomic Impact of Europe’s Carbon Taxes

Metcalf, Gilbert E. - 2020

Policy makers often express concern about the impact of carbon taxes on employment and GDP. Focusing on European countries that have implemented carbon taxes over the past 30 years, we estimate the macroeconomic impacts of these taxes on GDP and employment growth rates for various specifications...

Persistent link: https://www.econbiz.de/10012481343

Tax Distortions and Global Climate Policy

Babiker, Mustafa H. - 2002

We consider the efficiency implications of policies to reduce global carbon emissions in a world with pre-existing tax … environmental taxes are returned in a lump sum fashion, need not hold in a world with multiple distortions. We then present a large …-scale computable general equilibrium model of the world economy with distortionary taxation. We use this model to evaluate a number of …

Persistent link: https://www.econbiz.de/10012469575

The Macroeconomic Effects of a Carbon Tax to Meet the U.S. Paris Agreement Target : The Role of Firm Creation and Technology Adoption

Finkelstein Shapiro, Alan; Metcalf, Gilbert E. - National Bureau of Economic Research - 2021

We analyze the quantitative labor market and aggregate effects of a carbon tax in a framework with pollution externalities and equilibrium unemployment. Our model incorporates endogenous labor force participation and two margins of adjustment influenced by carbon taxes: (1) firm creation and (2)...

Persistent link: https://www.econbiz.de/10012533344

Five Myths About Carbon Pricing

Metcalf, Gilbert E. - National Bureau of Economic Research - 2023

While carbon pricing, in general, and carbon taxes, in particular, are popular with economists, they are subject to considerable misunderstanding among policy makers and the public. In this paper I consider and refute five myths about carbon taxes: 1) that a carbon price will hurt economic...

Persistent link: https://www.econbiz.de/10014250122

Distributional Impacts in a Comprehensive Climate Policy Package

Metcalf, Gilbert E. - 2010

Many distributional analyses of carbon pricing focus on the uses-side incidence of carbon pricing. This is the differential burden resulting from heterogeneity in consumption across households. Once one allows for sources-side incidence (i.e. differential impacts of changes in real factor...

Persistent link: https://www.econbiz.de/10012462555

Distributional Implications of Alternative U.S. Greenhouse Gas Control Measures

Rausch, Sebastian - 2010

We analyze the distributional and efficiency impacts of different allowance allocation schemes for a national cap and trade system using the USREP model, a new recursive dynamic computable general equilibrium model of the U.S. economy. We consider allocation schemes applied to a comprehensive...

Persistent link: https://www.econbiz.de/10012462601

Tax Policies for Low-Carbon Technologies

Metcalf, Gilbert E. - 2009

I conclude with some observations on the use of price-based instruments. In particular I discuss how a carbon tax could be designed to achieve environmental goals of emission caps over a control period

Persistent link: https://www.econbiz.de/10012463596

Designing A Carbon Tax to Reduce U.S. Greenhouse Gas Emissions

Metcalf, Gilbert E. - 2008

This article describes a revenue and distributionally neutral approach to reducing U.S. greenhouse gas emissions that uses a carbon tax. The revenue from the carbon tax is used to finance an environmental earned income tax credit designed to be distributionally neutral. The credit is linked to...

Persistent link: https://www.econbiz.de/10012464272

Analysis of U.S. Greenhouse Gas Tax Proposals

Metcalf, Gilbert E. - 2008

The U.S. Congress is considering a set of bills designed to limit the nation's greenhouse gas (GHG) emissions. This paper complements the analysis by Paltsev et al. (2007) of cap-and-trade bills and applies the MIT Emissions Prediction and Policy Analysis (EPPA) model to carry out an analysis of...

Persistent link: https://www.econbiz.de/10012464666

Using Tax Expenditures to Achieve Energy Policy Goals

Metcalf, Gilbert E. - 2008

Tax expenditures are a major source of support for energy related 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...

Persistent link: https://www.econbiz.de/10012464894