How do carbon prices spill over along global supply chains? The impact on Europe and Germany

IF 3.5 2区 经济学 Q1 ECONOMICS Journal of Policy Modeling Pub Date : 2024-09-01 DOI:10.1016/j.jpolmod.2024.03.005
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Abstract

This paper uses a multisector, multiregional general equilibrium input-output model to study the spillovers of global carbon pricing to Germany and Europe. It uses the World Input-Output Database (WIOD) to calibrate the intersectoral trade between seven regions and 56 economic sectors per region as well as EXIOBASE’s sectoral accounts of greenhouse gas emissions to calibrate emission costs. We find that moving from European-only to global carbon prices does neither reduce nor increase the aggregate GDP loss for Germany or Europe as a whole. However, this masks a large degree of heterogeneity across sectors. Sectors that rely on foreign sectors, which are themselves sensitive to the transition, experience large negative spillovers from global carbon pricing. Other sectors, even those with a high emission or trade intensity, tend to benefit from global carbon pricing due to an improvement in international competitiveness.

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碳价格如何沿全球供应链蔓延?对欧洲和德国的影响
本文采用多部门、多地区一般均衡投入产出模型,研究全球碳定价对德国和欧洲的溢出效应。它使用世界投入产出数据库(WIOD)来校准七个地区和每个地区 56 个经济部门之间的部门间贸易,并使用 EXIOBASE 的温室气体排放部门账户来校准排放成本。我们发现,从纯欧洲碳价格转向全球碳价格既不会减少也不会增加德国或整个欧洲的 GDP 总量损失。然而,这在很大程度上掩盖了各部门之间的异质性。依赖于外国部门的部门(这些部门本身对转型很敏感)会受到全球碳定价的巨大负面溢出效应的影响。其他部门,即使是排放或贸易强度较高的部门,由于国际竞争力的提高,往往会从全球碳定价中受益。
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来源期刊
CiteScore
6.20
自引率
11.40%
发文量
76
期刊介绍: The Journal of Policy Modeling is published by Elsevier for the Society for Policy Modeling to provide a forum for analysis and debate concerning international policy issues. The journal addresses questions of critical import to the world community as a whole, and it focuses upon the economic, social, and political interdependencies between national and regional systems. This implies concern with international policies for the promotion of a better life for all human beings and, therefore, concentrates on improved methodological underpinnings for dealing with these problems.
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Contents Editorial Board Immigration and the distribution of income, consumption and wealth in the euro area: Implications for economic policies Fed and ECB reaction functions during quantitative easing: Three phases of monetary policy, both conventional and unconventional How do carbon prices spill over along global supply chains? The impact on Europe and Germany
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