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An investigation of carbon taxes and terms-of-trade in a large macroeconometric mode
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External Authors
Amit Kara
JEL Code
Q58, H23, E12, E60
Journal
National Institute Economic Review, No. 258, Vol. Autumn, Pages: 47-65
External Resources
Raising the carbon price by $50 per tonne of CO2 would more than double the post-tax price of coal relative to renewable energy. This is an important figure to face, when considering that carbon taxes are likely to play a key role in meeting greenhouse gas emission targets that are consistent with the Paris Agreement. In this paper we assess the macroeconomic effects of a carbon tax on the global economy, paying particular attention to the terms-of-trade implications for importers and exporters of fossil fuels.
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