TY - JOUR
T1 - Reducing US carbon emissions
T2 - an econometric general equilibrium assessment
AU - Jorgenson, Dale W.
AU - Wilcoxen, Peter J.
N1 - Funding Information:
Correspondence IO: Professor D.W. Jorgenson, Dept. of Economics, Harvard University, Littauer Center, Room 122, 1875 Cambridge St., Cambridge, MA \12138, USA *Our work has benefit from many insightful discussions with A!an Manne, Richard Richeis, David ‘Montgomery. Thomas Rutherford, Robert Shackleton, Jame! Sweeney, John Weyant and the other participants of EMF 12. We are also grateful to an ar,onymous referee for several helpful comments. This project has hen supported by the Environmental Protection Agency under contracts 68-W8-0113 and 68-WI-0009 and the Nationai Science Foundation under grants SES-90-I 1463 and SES-9!-10231. The authors ret& sole responsi&ly for the views expressed in this paper. ‘A complete description of all findings of EMF-I2 is contained in Gaskins Reducing Carbon Emissinns_frcw the Energ!, Sector: Cost and Policy Oprions.
PY - 1993/3
Y1 - 1993/3
N2 - This paper describes research we conducted as part of Energy Modeling Forum 12, a recent study of the costs of limiting carbon dioxide emissions organized by the Energy Modeling Forum at Stanford University. It discusses how our approach differed from that of other participants in EMF-12 and presents several important findings. In particular, we show that in the United States the effects of a carbon tax will be very similar to the effects of a tax placed solely on coal. Outside the coal sector, the principal effect of carbon tax will be to raise the cost of electricity and to shift base load electric generating capacity toward fuels other than coal. At the aggregate level, higher energy prices will cause gross national product to fall unless the revenue from tax is used to reduce high marginal tax rates elsewhere in the economy.
AB - This paper describes research we conducted as part of Energy Modeling Forum 12, a recent study of the costs of limiting carbon dioxide emissions organized by the Energy Modeling Forum at Stanford University. It discusses how our approach differed from that of other participants in EMF-12 and presents several important findings. In particular, we show that in the United States the effects of a carbon tax will be very similar to the effects of a tax placed solely on coal. Outside the coal sector, the principal effect of carbon tax will be to raise the cost of electricity and to shift base load electric generating capacity toward fuels other than coal. At the aggregate level, higher energy prices will cause gross national product to fall unless the revenue from tax is used to reduce high marginal tax rates elsewhere in the economy.
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U2 - 10.1016/0928-7655(93)90016-N
DO - 10.1016/0928-7655(93)90016-N
M3 - Article
AN - SCOPUS:0027787098
SN - 0928-7655
VL - 15
SP - 7
EP - 25
JO - Resource and Energy Economics
JF - Resource and Energy Economics
IS - 1
ER -