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Jordi Planelles Cortes, doctoral student at the University of Paris Saclay, at the University of Barcelona and at the Energy and Prosperity Chair
Carbon taxes in a global production network
The goal of this paper is to understand better carbon taxation in the context of an increasingly integrated global production network. We present a model that characterizes how, departing from sector idiosyncratic policy shocks, the structure of the global production network is able to generate sizeable fluctuations on aggregate output and emissions. We depart from a stream of literature that uses network structures in the framework of general equilibrium models in order to characterize the microeconomic origins of aggregate fluctuations. We extend previous models in order to, among other features, include carbon taxation and accommodate the structure of an environmental multi-regional input-output database. We provide an empirical representation of the different network effects that play a role in spreading globally the effects of carbon taxation. We are able to identify a very small set of sectors that possesses most of the emissions reduction potential. Second-order policy effects define synergies between policies that call for greater harmonization in the application of carbon taxation around the world.
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The Friday Lunch Meeting will be in english and will take place via the tool Zoom.
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12:30 pm – 14:00 pm