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http://hdl.handle.net/10419/43523
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| Title: | | Capital malleability and the macroeconomic costs of climate policy  |
| Authors: | | Lanzi, Elisa Sue Wing, Ian |
| Issue Date: | | 2010 |
| Series/Report no.: | | Nota di lavoro // Fondazione Eni Enrico Mattei: Sustainable development 2010,19 |
| Abstract: | | This paper argues for introducing the role of capital malleability into the analysis of environmental policies. The issue is explored by means of a theoretical model, a numerical analysis and a computable general equilibrium (CGE) model. Considering the three approaches together is fundamental in obtaining theory-compatible policy-relevant results. The model outcomes reveal differences between results under separate assumptions regarding the malleability of capital. When capital is imperfectly malleable a carbon policy is less effective than under the assumption of perfect malleability of capital. Therefore, it is important that, especially for the analysis of short-term environmental regulations, the issue of capital malleability is taken into consideration. |
| Subjects: | | General Equilibrium CGE Models Climate Change Policy |
| JEL: | | C68 D58 H22 Q43 |
| Document Type: | | Working Paper |
| Appears in Collections: | | FEEM Working Papers, Fondazione Eni Enrico Mattei
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