English, Article, Journal or magazine article edition: Tax Distortions and Global Climate Policy Mustafa H. Babiker; Gilbert E. Metcalf; John Reilly

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Bookmark: http://trove.nla.gov.au/version/201170
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Tax Distortions and Global Climate Policy
Author
  • Mustafa H. Babiker
  • Gilbert E. Metcalf
  • John Reilly
Physical Description
  • preprint
Notes
  • RePEc:tuf:tuftec:0211
  • We consider the efficiency implications of policies to reduce global carbon emissions in a world with pre-existing tax distortions. We first note that the weak double-dividend, the proposition that the welfare improvement from a tax reform where environmental taxes are used to lower distorting taxes must be greater than the welfare improvement from a reform where the environmental taxes are returned in a lump sum fashion, need not hold in a world with multiple distortions. We then present a large-scale computable general equilibrium model of the world economy with distortionary taxation. We use this model to evaluate a number of policies to reduce carbon emissions. We find that the weak double dividend is not obtained in a number of European countries. Results also demonstrate the point that the interplay between carbon policies and pre-existing taxes can differ markedly across countries. Thus one must be cautious in extrapolating the results from a country specific analysis to other countries.
  • RePEc:nbr:nberwo:9136
Language
  • English
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