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UID:submissions.pasc-conference.org_PASC22_sess124_msa137@linklings.com
SUMMARY:Fiscal Policy for Climate Change and Welfare
DESCRIPTION:Minisymposium\n\nFiscal Policy for Climate Change and Welfare\
 n\nOswald, Le Grand, Ragot, Saussay\n\nFiscal policy offers a number of le
 vers to reduce carbon emissions. Climate change mitigation can for example
  be implemented through carbon taxation on the production or consumption s
 ide, or through debt-financed public investments in emission-reducing infr
 astructure. Yet these various instruments may differ significantly in thei
 r cost-effectiveness in reducing emissions and in their distributional imp
 acts among households. We develop a macroeconomic heterogeneous-agent mode
 l with environmental externalities to address both of these questions. In 
 this model, households derive utility from the consumption of carbon-inten
 sive and clean goods, and from the environmental damages resulting from CO
 2 emissions. In addition, CO2 emissions affect productivity and thus relat
 ive prices. We use household data on the distribution of carbon-intensive 
 goods consumption to estimate preference parameters. Starting from a reali
 stic fiscal structure, we then implement various tax reforms to analyze th
 eir effects on both CO2 emissions and welfare along the income distributio
 n.\n\nDomain: Climate, Weather and Earth Sciences, Humanities and Social S
 ciences
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