Climate Change Data Portal
| China's Unconventional Nationwide CO2 Emissions Trading System: The Wide-Ranging Impacts of an Implicit Output Subsidy | |
| Lawrence H. Goulder; Xianling Long; Jieyi Lu; Richard D. Morgenstern | |
| 出版日期 | 2020 |
| 出版者 | National Bureau of Economic Research |
| 英文摘要 | China is planning to implement the largest CO2 emissions trading system in the world. To reduce emissions, the system will be a tradable performance standard (TPS), an emissions pricing mechanism that differs significantly from the emissions pricing instruments used in other countries, such as cap and trade (C&T) and a carbon tax. We employ matching analytically and numerically solved models to assess the cost-effectiveness and distributional impacts of China’s forthcoming TPS for achieving CO2 emissions reductions from the power sector. We find that the TPS’s implicit subsidy to electricity output has wide-ranging consequences for both cost-effectiveness and distribution. In terms of cost-effectiveness, the subsidy disadvantages the TPS relative to C&T by causing power plants to make less efficient use of output-reduction as a way of reducing emissions (indeed, it induces some generators to increase output) and by limiting the cost-reducing potential of allowance trading. In our central case simulations, TPS’s overall costs are about 47 percent higher than under C&T. At the same time, the TPS has distribution-related attractions. Through the use of multiple benchmarks (maximal emission-output ratios consistent with compliance), it can serve distributional objectives. And because it yields smaller increases in electricity prices than a comparable C&T system, it implies less international emissions leakage. |
| URL | https://www.nber.org/papers/w26537 |
| 国家 | 美国 |
| 语种 | 英语 |
| 来源机构 | National Bureau of Economic Research |
| 文献类型 | 科技报告 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/126041 |
| 推荐引用方式 GB/T 7714 | Lawrence H. Goulder,Xianling Long,Jieyi Lu,et al. China's Unconventional Nationwide CO2 Emissions Trading System: The Wide-Ranging Impacts of an Implicit Output Subsidy:National Bureau of Economic Research,2020. |
| 条目包含的文件 | 下载所有文件 | |||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| China’s Unconvention（1173KB） | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
