Eurozone carbon tax hike would cause small GDP fall, paper finds
Increasing eurozone carbon prices would cause a temporary inflation rise and a small GDP fall, a working paper published by the European Central Bank finds.
In Macroeconomic effects of carbon transition policies, a team of researchers use the ECB’s new area-wide model. Günter Coenen, Matija Lozej and Romanos Priftis incorporate a disaggregated energy sector into the model, differentiating between “clean” and “dirty” sources of power. They look at the effects of “permanent increase in carbon
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