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| Zhao, Xiaobing. |
| We follow Schmalensee, Stoker, and Judson (1998) to forecast CO2 emissions based on the environmental Kuznets curve (EKC). Our findings suggest that the EKC will not lead to significant decreases in CO2 emissions even by 2050 for countries with the highest incomes. Therefore, mandatory emissions cuts are required to limit climate change. In the same spirit of Horowitz (2009) and Ng and Zhao (2010), we then use a reduced-form approach to estimate the economic costs of mandatory emission cuts. Based on our parameter estimates, we find that a 25% mandatory deduction in CO2 emissions from 1990 will lead to a 5.63% decrease in the combined GDP of the 19 OECD countries, and a 40% deduction will result in a 12.92% loss in income (holding other relevant variables... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Kuznets Curve; Carbon Dioxide Emissions; Economic Cost; Climate Change; Environmental Economics and Policy. |
| Ano: 2011 |
URL: http://purl.umn.edu/103413 |
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| Zhao, Xiaobing. |
| We study how carbon dioxide (CO2) emission cuts affect income for 23 OECD countries over the 1980-2004 period. The importance of this question is manifested in the disagreements at the 2009 United Nations Climate Change Conference in Copenhagen and the 2010 State of the Union Address by United States President Barack Obama. We start by deriving an income-CO2 relationship based on a structural production function, which is a natural way to model the relationship among income, energy consumption, and CO2 emissions. We then use a similar empirical methodology as Tucker (1995) to estimate the income-CO2 relationship. Such an approach not only allows us to focus on the long-run relationship but also enables us to project the relationship between income and CO2... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Carbon Dioxide Emissions; Income; Global Warming; Production Function; Environmental Economics and Policy. |
| Ano: 2011 |
URL: http://purl.umn.edu/103412 |
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