How should environmental policy respond to business cycles? Optimal policy under persistent productivity shocks

By Garth Heutel. 2011

442 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/738b2594e97cfd95fd0dc726c14a9a1ed6266f61

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Citations in the corpus

Optimal Dynamic Carbon Taxes in a Climate–Economy Model with Distortionary Fiscal Policy (2019, background): “…studied environmental policy and carbon taxation in dynamic general equilibrium growth models with capital accumulation (e.g., Bovenberg and Smulders, 1996; Golosov, Hassler, Krusell, and Tsyvinski, 2011; van der Ploeg and Withagen, 2012; Briggs, 2012; Gerlagh and Liski, 2012; Heutel, 2012, etc.).”
GHG Emissions Control and Monetary Policy (2017, background): “(Heutel 2012, Angelopoulos et al. 2010, 2013) I How do different types of environmental policies perform with business cycles?”
Environmental Policy and Macroeconomic Dynamics in a New Keynesian Model (2013, unknown): “Turning to the calibration regarding emissions, we set the parameter δM as in Heutel (2012); the coefficient φ, measuring emissions per unit of output, is set at 0.45, consistently with the carbon dioxide emissions, expressed as kilos per 2005 PPP $ of GDP,(21) and recorded by the US in 2005 accordi”
Optimal climate change mitigation under long-term growth uncertainty: Stochastic integrated assessment and analytic findings (2014, background): “A set of stochastic integrated assessments investigates the impact of short-term fluctuations on the choice of the optimal policy instrument (Hoel & Karp 2001, 2002, Kelly 2005, Karp & Zhang 2006, Heutel 2011, Fischer & Springborn 2011).”
Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change (2013, methodology): “Heutel (2012) uses quarterly data on total CO2 emissions in the United States and estimates a series of regressions with CO2 emissions as the dependent variable and with GDP as the independent variable, to measure the response of emissions to the business cycle.”
Emissions targets and the real business cycle: Intensity targets versus caps or taxes (2011, unknown): “Heutel’s focus is on the optimal dynamic tax or quota policy, which adjusts each period in response to income and price effects.”
Evidence on business cycles and CO2 emissions (2014, methodology): “11 As a result, even if the model in Heutel [16] were a ‘universal’ model of emissions determination over the business cycle, it would potentially have different policy implications when calibrated to countries such as India, Japan and China, a result interesting in its own right.”
Emissions Cap or Emissions Tax? A Multi-sector Business Cycle Analysis (2016, background): “Heutel (2012) determines an optimal emissions policy in a DSGE model with a pollution externality.”