Environmental Tax Reform, Economic Growth, and Unemployment in an OLG Economy PDF Download
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Author: Tetsuo Ono
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper develops an overlapping-generations model characterized by endogenous growth, unemployment, and pollution. The paper focuses on the replacement ratio, which measures the proportion of after-tax work earnings replaced by unemployment benefits, and considers a replacement-ratio-neutral reform in which the environmental tax is devoted to cutting the employees' rate of contribution to unemployment insurance. Under this reform, (i) the growth rate is increased, the unemployment rate is unchanged, and pollution is decreased; (ii) there is a trade-off of nonenvironmental utility between current and future generations; and (iii) when the reform is associated with an intergenerational transfer from the young to the old, the nonenvironmental utility of every generation can be improved.
Author: Tetsuo Ono
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper develops an overlapping-generations model characterized by endogenous growth, unemployment, and pollution. The paper focuses on the replacement ratio, which measures the proportion of after-tax work earnings replaced by unemployment benefits, and considers a replacement-ratio-neutral reform in which the environmental tax is devoted to cutting the employees' rate of contribution to unemployment insurance. Under this reform, (i) the growth rate is increased, the unemployment rate is unchanged, and pollution is decreased; (ii) there is a trade-off of nonenvironmental utility between current and future generations; and (iii) when the reform is associated with an intergenerational transfer from the young to the old, the nonenvironmental utility of every generation can be improved.
Author: Frank Hettich
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Focusing on the effects of environmental policy in closed and open economies in the short, medium and long term, this book uses dynamic modelling to study the interactions between economic growth, environmental policy and tax reform.
Author: Bertil Holmlund
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The paper examines the effects of an environmental tax reform in a model of a small open economy with decentralized wage bargaining and monopolistically competitive firms. The economy includes a tradable sector as well as a non-tradable sector and features unemployment in general equilibrium. Firms in both sectors use labor and an imported polluting factor of production ("energy"). A tax on energy, recycled to reduce the payroll tax, will in general affect equilibrium unemployment in this economy. The effect works through a reallocation of employment from the tradable to the non-tradable sector. Total employment increases if workers in the tradable sector receive a wage premium relative to workers in the non-tradable sector. The sectoral relative wage is determined by the relative bargaining power of the unions and by parameters of preferences and technology. Parameterized versions of the model suggest that the tax reform has small effects on employment and that it typically reduces real GDP.
Author: Carlo Carraro
Publisher: Springer
ISBN: 0792337506
Category : Technology & Engineering
Languages : en
Pages : 273
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Book Description
The European Union faces several interlinked challenges: how to protect the environment and favour sustainability; how to reduce unemployment and foster competitiveness in a context of growing globalization; how to reduce regional disparities among and within me mb er countries. The recent policy debate has clarified that the above objectives are not a trade off if jointly tackled. In particular, win-win policy options are available to the European Union by an appropriate integration of regulation, macro policy, social policy, fiscal policy and environmental policy. Evidence shows that optimising on each single policy will not meet the needs of the European Union. On the contrary, an integrated approach will make it possible to reach the various objectives, as stated in the Treaty on European Union, in the 5th Environmental Action Programme, in the White Paper on Growth, Competitiveness and Employment. This integrated approach would im plement a genuine sustainable development policy.
Author: Paul Ekins
Publisher: OUP Oxford
ISBN: 0199584508
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
A comprehensive analysis of an environmental tax reform where people are taxed on pollution and the use of natural resources instead of on their income, it looks at the challenges involved in implementing this tax reform across Europe.
Author: Ronnie Schöb
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
It has been argued recently that imposing taxes on pollution produces additional tax revenues, which can then be used to replace labor taxes and thus reap a double dividend in the form of improving environmental quality and alleviating unemployment. This paper analyzes the employment effects of revenue-neutral green tax reforms by focusing on the revenue recycling effect on employment. Our model contains three features which are important when looking at the employment effects of green tax reforms: 1) there is unemployment in equilibrium; 2) wages are determined endogenously; and 3) various institutional arrangements for taxing unemployment benefits, for the price-indexation of unemployment benefits and for personal tax allowances are considered. The employment effects of a revenue-neutral green tax reform are sensitive to institutional arrangements concerning taxation and indexation of unemployment benefits and personal tax allowances. A revenue-neutral green tax reform will boost employment if unemployment benefits are untaxed and nominally fixed. Employment actually falls if unemployment benefits are taxed and price indexed. When employment changes, the functional distribution of income also changes. Total private income, after-tax profits and after-tax labor income increase with employment, while transfer income decreases. If the polluting good is normal, a positive employment effect reduces the environmental dividend obtained from a revenue-neutral green tax reform.
Author: Frank Hettich
Publisher:
ISBN:
Category :
Languages : en
Pages : 29
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Book Description
Author: David Malin Roodman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
Author: Mohamed Arouri
Publisher: Edward Elgar Publishing
ISBN: 1802204806
Category : Business & Economics
Languages : en
Pages : 495
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Book Description
This comprehensive Handbook examines the links between energy, the economy, and the environment. Esteemed international experts explore the ways in which energy contributes to economic growth, particularly in the context of geopolitical uncertainties.
Author: Miria A. Pigato
Publisher: World Bank Publications
ISBN: 9781464813580
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
This report provides actionable advice on how to design and implement fiscal policies for both development and climate action. Building on more than two decades of research in development and environmental economics, it argues that well-designed environmental tax reforms are especially valuable in developing countries, where they can reduce emissions, increase domestic revenues, and generate positive welfare effects such as cleaner water, safer roads, and improvements in human health. Moreover, these reforms need not harm competitiveness. New empirical evidence from Indonesia and Mexico suggests that under certain conditions, raising fuel prices can actually increase firm productivity. Finally, the report discusses the role of fiscal policy in strengthening resilience to climate change. It provides evidence that preventive public investments and measures to build fiscal buffers can help safeguard stability and growth in the face of rising climate risks. In this way, environmental tax reforms and climate risk-management strategies can lay the much-needed fiscal foundation for development and climate action.
