NiGEM Workshop: Short-Term Impact from a Rapid Increase in Carbon Taxes

This workshop will look at our latest Topical Feature, released in the Summer 2023 Global Economic Outlook. In order to assess some of the short-term risks associated with climate policy, we utilised the Delayed Transition NGFS phase 3 scenario by bringing it forward to 2023. We then explored the macroeconomic responses to these exogenous shocks using the NIGEM climate module.