Financial impacts of climate change mitigation policies and their macroeconomic implications: a stock-flow consistent approach
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7 février 2020
- handle: 10670/1.5acg42
- hal: hal-02800491
- doi: 10.1080/14693062.2019.1698406
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info:eu-repo/semantics/altIdentifier/doi/10.1080/14693062.2019.1698406
Mots-clés
Ecological macroeconomics carbon pricing stock-flow consistency credit rationing integrated assessment C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C51 - Model Construction and Estimation D - Microeconomics/D.D7 - Analysis of Collective Decision-Making/D.D7.D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior E - Macroeconomics and Monetary Economics/E.E1 - General Aggregative Models/E.E1.E12 - Keynes • Keynesian • Post-Keynesian O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O13 - Agriculture • Natural Resources • Energy • Environment • Other Primary Products Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q51 - Valuation of Environmental Effects Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q54 - Climate • Natural Disasters and Their Management • Global WarmingSujets proches
Price policy, Industrial Retail pricing Price policy Science of climate Climate Climate scienceCiter ce document
Emmanuel Bovari et al., « Financial impacts of climate change mitigation policies and their macroeconomic implications: a stock-flow consistent approach », HAL-SHS : économie et finance, ID : 10.1080/14693062.2019.1698406
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Résumé
To what extent can worldwide carbon pricing foster the transition towards a low-carbon economy and mitigate the effects of global warming? We address this question by assessing the financial impacts and macroeconomic implications of carbon pricing and public subsidies. More specifically, we evaluate the extent to which such policies are sustainable by computing the probability of remaining below two thresholds that we argue to be indicative of the stability of our current economy and climate: (1) a temperature anomaly above +2°C (a commonly acknowledged target, including in the 2015 Paris Agreement, to potentially avoid nonlinearities in the climate system) and (2) a large global debt-to-output ratio of 270%.