Metcalf, Gilbert Elliot
The macroeconomic impact of Europe's carbon taxes / Gilbert E. Metcalf and James H. Stock
Resumen.
Bibliografía.
We estimate the macroeconomic impacts of carbon taxes on GDP and employment growth rates using 30 years of data on carbon taxation in various European countries. We find no evidence for a negative impact on employment or GDP growth but rather find a zero to modest positive impact. We also find a cumulative emissions reduction on the order of 4 to 6 percent for a $40/ton CO2 tax covering 30 percent of emissions. Reductions would likely be greater for a broad-based US carbon tax since European carbon taxes typically do not cover those sectors with the lowest marginal abatement costs.
CARBONO
IMPUESTOS
INCIDENCIA Y TRASLACION
EMPLEO
UNION EUROPEA
ANALISIS MACROECONOMICO
Stock, James H.
American Economic Journal : Macroeconomics 1945-7707 v. 15, n. 3, July 2023, p. 265-286
The macroeconomic impact of Europe's carbon taxes / Gilbert E. Metcalf and James H. Stock
Resumen.
Bibliografía.
We estimate the macroeconomic impacts of carbon taxes on GDP and employment growth rates using 30 years of data on carbon taxation in various European countries. We find no evidence for a negative impact on employment or GDP growth but rather find a zero to modest positive impact. We also find a cumulative emissions reduction on the order of 4 to 6 percent for a $40/ton CO2 tax covering 30 percent of emissions. Reductions would likely be greater for a broad-based US carbon tax since European carbon taxes typically do not cover those sectors with the lowest marginal abatement costs.
CARBONO
IMPUESTOS
INCIDENCIA Y TRASLACION
EMPLEO
UNION EUROPEA
ANALISIS MACROECONOMICO
Stock, James H.
American Economic Journal : Macroeconomics 1945-7707 v. 15, n. 3, July 2023, p. 265-286