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  1. Optimal climate policy as if the transition matters
    Autor*in: Campiglio, Emanuele; Dietz, Simon; Venmans, Frank
    Erschienen: December 2022
    Verlag:  CESifo, Munich, Germany

    The optimal transition to a low-carbon economy must account for adjustment costs in switching from dirty to clean capital, technological progress, and economic and climatic shocks. We study the low-carbon transition using a dynamic stochastic general... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 63
    Fernleihe:
    keine Fernleihe

     

    The optimal transition to a low-carbon economy must account for adjustment costs in switching from dirty to clean capital, technological progress, and economic and climatic shocks. We study the low-carbon transition using a dynamic stochastic general equilibrium model with emissions abatement costs calibrated on a large energy modelling database, solved with recursive methods. We show how capital inertia puts upward pressure on emissions and temperatures in the short run, but that nonetheless it is optimal to actively disinvest from - to 'strand' - a significant share of the dirty capital stock. Conversely, clean technological progress, as well as uncertainty about climatic and economic factors, lead to lower emissions and temperatures in the long run. Putting these factors together, we estimate a net premium of 33% on the optimal carbon price today relative to a 'straw man' model with perfect capital mobility, fixed abatement costs and no uncertainty.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/271783
    Schriftenreihe: CESifo working papers ; 10139 (2022)
    Schlagworte: djustment costs; carbon price; climate change; low-carbon transition; stranded assets; technological progress; uncertainty
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  2. Growth and adaptation to climate change in the long run
    Autor*in: Dietz, Simon; Lanz, Bruno
    Erschienen: December 2022
    Verlag:  Grantham Research Institute on Climate Change and the Environment, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Centre for Climate Change Economics and Policy working paper ; no. 411
    Grantham Research Institute on Climate Change and the Environment working paper ; no. 386
    Schlagworte: agriculture; climate change; directed technical change; economic growth; energy; population growth; structural change; structural estimation; uncertainty
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  3. Optimal climate policy as if the transition matters
    Autor*in: Campiglio, Emanuele; Dietz, Simon; Venmans, Frank
    Erschienen: December 2022
    Verlag:  Grantham Research Institute on Climate Change and the Environment, London

    Zugang:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    Keine Rechte
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Centre for Climate Change Economics and Policy working paper ; no. 412
    Grantham Research Institute on Climate Change and the Environment working paper ; no. 387
    Schlagworte: adjustment costs; carbon price; climate change; low-carbon transition; stranded assets; technological progress; uncertainty
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen