Macroeconomic effects of CO{sub 2} emission limits: A computable general equilibrium analysis for China
Conference
·
OSTI ID:471033
- Wageningen Univ. (Netherlands). Dept. of General Economics
The paper analyzes the macroeconomic effects of limiting China`s CO{sub 2} emissions. In doing so, a dynamic computable general equilibrium (CGE) model of the Chinese economy has been developed. This CGE model operates by simulating the operation of markets for factors, products and foreign exchange, with equations specifying supply and demand behavior across all markets. The model includes ten producing sectors and identifies four energy inputs. The CGE model is made up of the following nine blocks: production and factors, prices, income, expenditures, investment and capital accumulation, foreign trade, energy and environment, welfare, and market clearing conditions and macroeconomic balances. The model allows for endogenous substitution among energy inputs and alternative allocation of resources as well as endogenous determination of foreign trade and household consumption in the Chinese economy for coping with the carbon limits, both at the sectoral level and at the macroeconomic level. Moreover, the model is able to calculate their resulting welfare impacts. Furthermore, the CGE model incorporates an explicit tax system. This makes it suitable for estimating the double dividend from the imposition of a carbon tax.
- OSTI ID:
- 471033
- Report Number(s):
- CONF-960420--; ISBN 0-884736-02-5
- Country of Publication:
- United States
- Language:
- English
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