The Poverty And Distributional Impacts Of Carbon Pricing Channels And Policy Implications

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The Poverty And Distributional Impacts Of Carbon Pricing Channels And Policy Implications
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Author : Baoping Shang
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-25
The Poverty And Distributional Impacts Of Carbon Pricing Channels And Policy Implications written by Baoping Shang and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-25 with Business & Economics categories.
Addressing the poverty and distributional impacts of carbon pricing reforms is critical for the success of ambitious actions in the fight against climate change. This paper uses a simple framework to systematically review the channels through which carbon pricing can potentially affect poverty and inequality. It finds that the channels differ in important ways along several dimensions. The paper also identifies several key gaps in the current literature and discusses some considerations on how policy designs could take into account the attributes of the channels in mitigating the impacts of carbon pricing reforms on households.
The Distributional Impact Of A Carbon Tax In Asia And The Pacific
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Author : Cristian Alonso
language : en
Publisher: International Monetary Fund
Release Date : 2022-06-10
The Distributional Impact Of A Carbon Tax In Asia And The Pacific written by Cristian Alonso and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-10 with Business & Economics categories.
While a carbon tax is widely acknowledged as an efficient policy to mitigate climate change, adoption has lagged. Part of the challenge resides in the distributional implications of a carbon tax and a belief that it tends to be regressive. Even when not regressive, poor households could be hurt by a carbon tax, particularly in countries that rely heavily on carbon-intensive energy sources. Using household surveys, we study how a carbon tax may affect households in the Asia Pacific region, the main source of CO2 emissions. We document a wide range of country-specific policies that could be implemented to compensate households, reduce inequality, and build support for adoption.
The Distributional Implications Of The Impact Of Fuel Price Increases On Inflation
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Author : Kangni Kpodar
language : en
Publisher: International Monetary Fund
Release Date : 2021-11-12
The Distributional Implications Of The Impact Of Fuel Price Increases On Inflation written by Kangni Kpodar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-12 with Business & Economics categories.
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Climate Change Mitigation And Policy Spillovers In The Eu S Immediate Neighborhood
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Author : Mr. Serhan Cevik
language : en
Publisher: International Monetary Fund
Release Date : 2023-12
Climate Change Mitigation And Policy Spillovers In The Eu S Immediate Neighborhood written by Mr. Serhan Cevik and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12 with Business & Economics categories.
EU’s neighborhood countries (EUN) have lagged the EU on emissions mitigation; coal-heavy power generation and industrial sectors are a key factor. They have also trailed EU countries in emissions mitigation policies since 2000, with little use of market-based instruments, and they still have substantial fossil fuel subsidies. Increasingly stringent EU mitigation policies are asociated with lower emissions in EUN. Overall output effects of the CBAM, in its current form, would be limited, though exports and emissions-intensive industries could be heavily impacted. A unilaterally adopted economywide carbon tax of $75 per ton would significantly lower emissions by 2030, with minimal consequences for output or household welfare, though a safety net for the affected workers may be necessary. To become competitive today by attracting green FDI and technology, overcoming infrastructure constraints and integrating into EU’s supply chains, EUN countries would be well served to front load decarbonization, rather than postpone it for later.
Japan
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-13
Japan written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-13 with Business & Economics categories.
The Japanese economy continues to grow after the pandemic, with broad-based price increases following three decades of low inflation. The “new form of capitalism” agenda and children-related policies are key priorities for the Kishida administration, but the fiscal burden has increased.
The Oxford Handbook Of The Macroeconomics Of Global Warming
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Author : Lucas Bernard
language : en
Publisher:
Release Date : 2015
The Oxford Handbook Of The Macroeconomics Of Global Warming written by Lucas Bernard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
The Oxford Handbook of the Macroeconomics of Global Warming analyzes the macroeconomics of global warming, especially the economics of possible preventative measures, various policy changes, and potential effects of climate change on developing and developed nations.
Surging Energy Prices In Europe In The Aftermath Of The War How To Support The Vulnerable And Speed Up The Transition Away From Fossil Fuels
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Author : Mr. Anil Ari
language : en
Publisher: International Monetary Fund
Release Date : 2022-07-29
Surging Energy Prices In Europe In The Aftermath Of The War How To Support The Vulnerable And Speed Up The Transition Away From Fossil Fuels written by Mr. Anil Ari and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-29 with Business & Economics categories.
We estimate that the recent surge in international fossil fuel prices will raise European households’ cost of living in 2022 by close to 7 percent of consumption on average. Household burdens vary significantly across and within countries, but in most cases they are regressive. Policymakers have mostly responded to the shock with broad-based price-suppressing measures, including subsidies, tax reductions, and price controls. Going forward, the policy emphasis should shift rapidly towards allowing price signals to operate more freely and providing income relief to the vulnerable. The surge in energy prices will encourage energy conservation and investments in renewable energy, but the manyfold rise in natural gas prices could lead to a persistent switch towards coal. To ensure steady progress towards carbon emissions reduction goals, authorities could use the opportunity to strengthen carbon pricing when global fossil fuel prices decline in the future. Non-price incentives for investments in energy efficiency and renewable energy should also be enhanced, as envisaged in the RePowerEU plan.
Global Economic Prospects June 2022
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2022-07-22
Global Economic Prospects June 2022 written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-22 with Business & Economics categories.
The world economy continues to suffer from a series of destabilizing shocks. After more than two years of pandemic, Russia's invasion of Ukraine and its global effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth. In particular, the war is leading to soaring prices and volatility in energy markets, with improvements in activity in energy exporters more than offset by headwinds to activity in most other economies. The war has also led to a significant increase in agricultural commodity prices, which is exacerbating food insecurity and extreme poverty in many emerging market and developing economies. Numerous risks could further derail what is now a precarious recovery. Among them is, in particular, the possibility of stubbornly high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. This could eventually result in a sharp tightening of monetary policy in advanced economies to rein in inflation, lead to surging borrowing costs, and possibly culminate in financial stress in some emerging market and developing economies. A forceful and wide-ranging policy response is required by policy makers and the global community to boost growth, bolster macroeconomic frameworks, reduce financial vulnerabilities, provide support to the vulnerable population groups, and attenuate the long-term impacts of the global shocks of recent years.
Within Reach
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Author : Stephane Hallegatte
language : en
Publisher: World Bank Publications
Release Date : 2024-01-10
Within Reach written by Stephane Hallegatte and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-10 with Science categories.
This report looks at the political economy of net zero policy, from common challenges to the development of strategies to overcome them. It shows how governments can improve political economy conditions over time with progressive climate governance interventions, while overcoming more immediate barriers with better policy design and communication.
Alligators In The Arctic And How To Avoid Them
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Author : Peter Dorman
language : en
Publisher: Cambridge University Press
Release Date : 2022-07-28
Alligators In The Arctic And How To Avoid Them written by Peter Dorman and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-28 with Business & Economics categories.
Integrating science, economics and policy, this book explains the urgency of sticking to a strict carbon budget.