The Macroeconomic Impact of Europe’s Carbon Taxes

IF 6.3 1区 经济学 Q1 ECONOMICS
Gilbert E. Metcalf, James H. Stock
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引用次数: 0

Abstract

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 CO 2 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. (JEL E23, E24, H23, Q54, Q58)
欧洲碳税的宏观经济影响
我们利用欧洲各国30年来的碳税数据,估算了碳税对GDP和就业增长率的宏观经济影响。我们没有发现对就业或GDP增长产生负面影响的证据,而是发现零到适度的积极影响。我们还发现,每吨40美元的二氧化碳税覆盖了30%的排放量,累计减排幅度约为4%至6%。如果美国征收广泛的碳税,减排效果可能会更大,因为欧洲的碳税通常不包括那些边际减排成本最低的行业。(jel e23, e24, h23, q54, q58)
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来源期刊
CiteScore
8.20
自引率
1.70%
发文量
58
期刊介绍: American Economic Journal: Macroeconomics focuses on studies of aggregate fluctuations and growth, and the role of policy in that context. Such studies often borrow from and interact with research in other fields, such as monetary theory, industrial organization, finance, labor economics, political economy, public finance, international economics, and development economics. To the extent that they make a contribution to macroeconomics, papers in these fields are also welcome.
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