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USING A CARBON TAX TO MEET US INTERNATIONAL CLIMATE PLEDGES
- Source :
- Climate Change Economics. 10:1950002
- Publication Year :
- 2019
- Publisher :
- World Scientific Pub Co Pte Lt, 2019.
-
Abstract
- The United States is currently on pace to fall well short of its promises to reduce greenhouse gas emissions by 26–28%, relative to 2005, by 2025, under the UN Framework and Convention on Climate Change (UNFCCC) Paris Agreement, even if President Trump did not eliminate most Obama-era climate regulations. However, there still exists interest in reducing emissions, especially from some members of Congress, and there are a number of federal policy options to reduce greenhouse gas emissions if Congress (or a new administration in 2021) so chooses. In this paper, we show that a federal economy-wide carbon tax on US carbon dioxide emissions could significantly contribute to the reductions necessary to fulfill the US international climate commitments. Using a detailed multi-sector computable general equilibrium (CGE) model, we predict the carbon price paths that would be necessary to meet the 28% emissions target and show the economic costs of such carbon-pricing policies. We then demonstrate how both the price paths and associated costs change if action is delayed.
- Subjects :
- Computable general equilibrium
Economics and Econometrics
Carbon tax
Natural resource economics
Climate change
Low-carbon economy
Management, Monitoring, Policy and Law
Convention
chemistry.chemical_compound
Carbon price
Economic cost
0502 economics and business
Economics
050207 economics
Carbon credit
050205 econometrics
Global and Planetary Change
Public economics
05 social sciences
Climate change mitigation
chemistry
Carbon neutrality
Greenhouse gas
Carbon dioxide
Kyoto Protocol
Emissions trading
Subjects
Details
- ISSN :
- 20100086 and 20100078
- Volume :
- 10
- Database :
- OpenAIRE
- Journal :
- Climate Change Economics
- Accession number :
- edsair.doi.dedup.....3b79845de8858450392ac0c17d36cd01