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首页> 外文期刊>Environmental & Resource Economics >Capital Malleability, Emission Leakage and the Cost of Partial Climate Policies: General Equilibrium Analysis of the European Union Emission Trading System
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Capital Malleability, Emission Leakage and the Cost of Partial Climate Policies: General Equilibrium Analysis of the European Union Emission Trading System

机译：资本可延展性，排放泄漏和部分气候政策的成本：欧盟排放贸易体系的一般均衡分析

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摘要

Computable general equilibrium (CGE) models are the premier analytical platform for assessing the economic impacts of climate change mitigation. But these models tend to treat physical capital as "malleable", capable of reallocation among sectors over the time-period for which equilibrium is solved. Because the extent to which capital adjustment costs might dampen reallocation is not well understood, there is concern that CGE assessments understate the true costs of greenhouse gas (GHG) reduction policies. This paper uses a multi-region, multi-sector CGE model to investigate cap-and-trade schemes, such as the European Union Emission Trading System which cover a subset of the economy, elucidating the effects of capital malleability on GHG abatement, the potential for emission leakage from abating to non-abating sectors, and the impacts on welfare. To simplify the complex interactions being simulated within the CGE model, that analysis is complemented with an analytical model. A partial climate policy results in negative internal carbon leakage, with emissions declining not only in capped sectors but also in non-regulated ones. This result is stronger when capital is intersectorally mobile. Interestingly, in partial climate policy settings capital malleability can amplify or attenuate welfare losses depending on the attributes of the economy.
机译：可计算的一般均衡（CGE）模型是评估减缓气候变化的经济影响的主要分析平台。但是这些模型倾向于将物质资本视为“可变的”，能够在解决均衡的一段时间内在部门之间进行再分配。由于资本调整成本可能会在多大程度上阻碍重新分配，因此人们担心，CGE评估低估了温室气体减排政策的真实成本。本文使用多区域，多部门的CGE模型来研究总量控制和交易计划，例如涵盖经济子集的欧盟排放交易系统，阐明了资本可延展性对减少温室气体的影响，减少从减排到非减排部门的排放泄漏，以及对福利的影响。为了简化在CGE模型中模拟的复杂交互作用，该分析辅以分析模型。局部气候政策导致内部碳泄漏为负，不仅限制行业的排放下降，而且非管制部门的排放下降。当资本跨部门流动时，这一结果会更强。有趣的是，在部分气候政策环境中，资本的可延展性可以根据经济的属性来扩大或减少福利损失。

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