气候政策和经济来自欧洲碳定价倡议的证据

ClimatePolicyandtheEconomy:EvidencefromEurope’sCarbonPricingInitiativesDiegoR.K¨anzigNorthwesternUniversity&NBERMaximilianKonradtGenevaGraduateInstituteIMFERConferenceonTheFutureofMacroeconomicPolicyJune2023Theloomingclimatecrisis•Climatechangeisnowatthetopoftheglobalpolicyagenda•Carbonpricingisincreasinglyusedasatooltomitigateclimatechange•Carbontaxes•Cap-and-trade•Weknowlittleabouttheeffectsofthesepoliciesinpractice•Effectiveatreducingemissions?•Short-termeconomiccosts?•Howdodifferentpoliciescompare?1Thispaper•ComprehensiveanalysisofcarbonpricingpoliciesinEurope•WhyEurope?Globalleaderinclimatepolicywith20+yearsofexperience•EU-wideemissionstradingscheme(EUETS)•Manycountriesalsoenactedcarbontaxesatnationallevel•Sufficientvariationtoidentifytheeffectsofinterest•Keychallenge:Carbonpricesnotsetinavacuum•Wecomparetwoempiricalstrategies:•high-frequencyidentificationand“control-based”approach•Provideunifiedframeworktostudyimpactofcap-and-tradeprices&carbontaxes2Mainresults•Carbonpricingleads