The Macroeconomics of Second-Best Climate Policies

第二佳气候政策的宏观经济学

• 批准号: 2315408
• 负责人: Gregory Casey
• 金额: $ 4.12万
• 依托单位: Williams College
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2023
• 资助国家: 美国
• 起止时间: 2023-09-01 至 2024-08-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=2315408&HistoricalAwards=false
• 关键词: Macroeconomics; Second; Best; Climate; Policies

This award funds research that uses economic theory and on the economic and environmental consequences of “non-traditional” environmental policies designed to reduce carbon dioxide emissions. While most economic studies of carbon reduction policies have focused on taxing fossil fuels, this research project focuses on policies that subsidies for the production of renewable energy and mandates for the use of clean energy. The research will use theoretical modelling, a large data set, and innovative empirical methods to investigate how subsidies and mandates can be designed to reduce emissions at the lowest cost to economic growth and efficiency compared to other forms of fuels. In addition, the project will estimate the impact of the Inflation Reduction Act as well as the impact of the Clean Power Plan on both carbon emissions and economic growth. The results of this research project will provide major inputs into policies to reduce carbon emissions, while spurring economic growth and establish the US as a global leader in carbon reduction policies.This award funds a research agenda to study the efficiency of carbon reduction policies other than those that tax fossil fuels. The project will develop and estimate a quantitative, dynamic model of the macroeconomy and the environment to test the efficiency of “second best” carbon policies. The model extends the standard modeling framework in two ways: first, it will allow the price elasticity of energy demand to differ in the short-, medium- and long-run because of the differential effects of carbon and subsidies for renewables on the price of energy; in addition, the model will incorporate the value of public funds raised from carbon taxes. The researchers will use a large data set and different econometric methods to estimate the model and compare it to the results from emission tax policies. The estimates will then be used to analyze recent policy proposals such as the Inflation Reduction Act and the Clean Power Plan. The results of this research project will provide major inputs into policies to reduce carbon emissions, while spurring economic growth and establish the US as a global leader in carbon reduction policies.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.

该奖项资助使用经济理论和旨在减少二氧化碳排放的“非传统”环境政策的经济和环境后果的研究。虽然大多数关于碳减排政策的经济研究都侧重于对化石燃料征税，但本研究项目侧重于补贴可再生能源生产和强制使用清洁能源的政策。 该研究将使用理论建模，大型数据集和创新的实证方法来研究如何设计补贴和授权，以减少与其他形式的燃料相比以最低成本实现经济增长和效率的排放。 此外，该项目还将评估《降低通货膨胀法》以及《清洁能源计划》对碳排放和经济增长的影响。 该研究项目的成果将为减少碳排放的政策提供重要投入，同时刺激经济增长，并将美国确立为全球碳减排政策的领导者。该奖项资助研究议程，研究除化石燃料税外的碳减排政策的效率。 该项目将开发和评估宏观经济和环境的定量动态模型，以测试“次优”碳政策的效率。该模型在两个方面扩展了标准建模框架：首先，由于碳排放和可再生能源补贴对能源价格的不同影响，该模型将允许能源需求的价格弹性在短期、中期和长期内有所不同;此外，该模型将纳入从碳税中筹集的公共资金的价值。 研究人员将使用大量数据集和不同的计量经济学方法来估计模型，并将其与排放税政策的结果进行比较。 然后，这些估计将用于分析最近的政策提案，如《通货膨胀削减法案》和《清洁能源计划》。 该研究项目的成果将为减少碳排放的政策提供重要投入，同时刺激经济增长，并将美国确立为碳减排政策的全球领导者。该奖项反映了NSF的法定使命，并通过使用基金会的知识价值和更广泛的影响审查标准进行评估，被认为值得支持。