Economic, ecological and social benefits through redistributing revenues from increased mineral oil taxation in Austria: A triple dividend

IF 5.5 Q1 BUSINESS, FINANCE
Sebastian Goers, F. Schneider
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引用次数: 1

Abstract

To meet the future energy and climate targets in 2030 and 2050 in Austria, it is absolutely necessary to apply extensive measures to reduce the use of fossil fuels. By then, Austria will have to realize a 36% decrease (from 2005 levels) for emission sources outside the European Emission Trading System. The transport sector is a key driver of recently increasing greenhouse gas emissions in Austria. Hence, we examine the macroeconomic and ecologic impacts of an environmental tax reform in Austria from 2020 to 2030. We implement a revenue-neutral tax reform that raises revenues via an increase of the mineral oil tax on diesel and petrol consumption and redistributes these fiscal revenues to the industry and households. In addition, increased fossil fuel taxing would enhance revenues for green investments in e-mobility and thermal refurbishment that stimulate the Austrian economy. The simulation analyses focus on central macroeconomic variables as gross domestic product, employment, investment and private consumption and carbon dioxide emissions. We find that the proposed environmental tax reform generates a triple dividend, leading simultaneously to economic growth and the reduction of greenhouse gas emissions while low-income households can be fully compensated.
通过重新分配奥地利增加的矿物油税收带来的经济、生态和社会效益:三重红利
为了实现奥地利2030年和2050年的未来能源和气候目标,绝对有必要采取广泛措施减少化石燃料的使用。到那时,奥地利必须实现欧洲排放交易体系以外的排放源减少36%(比2005年的水平)。运输部门是奥地利最近温室气体排放增加的主要驱动因素。因此,我们研究了2020年至2030年奥地利环境税改革的宏观经济和生态影响。我们实施收入中性的税收改革,通过提高柴油和汽油消费的矿物油税来增加收入,并将这些财政收入重新分配给行业和家庭。此外,增加化石燃料税将增加电动汽车和热力翻新的绿色投资收入,从而刺激奥地利经济。模拟分析侧重于国内生产总值、就业、投资和私人消费以及二氧化碳排放等核心宏观经济变量。我们发现,拟议的环境税改革产生了三重红利,同时带来了经济增长和温室气体排放的减少,而低收入家庭可以得到充分补偿。
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来源期刊
Green Finance
Green Finance Multiple-
CiteScore
9.60
自引率
3.50%
发文量
14
审稿时长
6 weeks
期刊介绍: Green Finance is an international, interdisciplinary Open Access journal dedicated to green finance, environmental, and sustainability research and practice. It offers a platform for publishing original contributions and technical reviews on green finance and related topics, following a rigorous peer-review process. Accepted article types include original research, reviews, editorials, letters, and conference reports.
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