Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/248892 
Year of Publication: 
2021
Series/Report no.: 
CESifo Working Paper No. 9347
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon taxes and emissions trading systems (ETS), as well as the overall stringency of climate policies. We use dynamic panel regressions, controlling for macroeconomic factors such as economic development, GDP growth, urbanisation, as well as the energy mix. We find that higher carbon taxes and prices of permits in ETS reduce carbon emissions. An increase in carbon taxes by $10 per ton of CO2 reduces CO2 emissions per capita by 1.3% in the short run and by 4.6% in the long run.
Subjects: 
climate policies
carbon tax
carbon emission trading system
carbon dioxide
climate change
emissions
energy
environment
growth
JEL: 
O44
Q00
Q48
Q58
Q40
Q50
Document Type: 
Working Paper
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