Autori
Annicchiarico, BarbaraDi Dio, FabioZoppoli, PietroBattles, SusanMolina, PierfrancescoTitolo
GEEM: a policy model for assessing climate-energy reforms for ItalyPeriodico
Ministero dell'Economia e delle Finanze. Dipartimento del Tesoro. Working paperAnno:
2016 - Fascicolo:
3 - Pagina iniziale:
1 - Pagina finale:
46We build up a large scale, New Keynesian dynamic general equilibrium model
embodying a cap on pollutant emissions, an electricity sector and fuel consumption to
analyse climate-energy policies for the Italian economy. We consider several
applications to illustrate how emission mitigation policies are likely to affect the
economy. Our results show that a major trade-off may emerge between environmental
quality and economic activity. However, we show how this potential trade-off can be
effectively overcome by recycling the revenues from the sales of emission permits. Also,we find that the presence of an emission cap may significantly limit the expansionary effects of fiscal interventions as well as of policies aimed at fostering competition and productivity. Finally, a negative shock on gas and oil prices has a positive effect on the level of economic activity but is also found to increase investment in renewable sources.
SICI: 1972-411X(2016)3<1:GAPMFA>2.0.ZU;2-H
Testo completo:
http://www.dt.mef.gov.it/export/sites/sitodt/modules/documenti_it/analisi_progammazione/working_papers/WP_N_3_-_Maggio_2016.pdfEsportazione dati in Refworks (solo per utenti abilitati)
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