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Workers or Consumers: Who Pays for Low-Carbon Transition – Theoretical Analysis of Welfare Change in General Equilibrium Setting

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cris.lastimport.scopus2024-02-12T19:57:09Z
dc.abstract.enPolicies that are introduced to mitigate adverse consequences of climate change involve economic costs. For some households, these costs will materialise in the form of an increase in prices of consumption goods, whereas for others they will materialise in the form of falling productivity and wages. Disentangling these two effects is important in the light of the design of funds that aim to support the households that are negatively affected by climate policy. In this article, we study the effect of carbon tax on welfare through changes of consumer prices and wages in a general equilibrium setting. In the first step, we review the literature on ‘top-down’ models, which are used to evaluate the macroeconomic cost of climate policy. We find that these models usually do not account for loss of productivity of workers who must change their sector due to climate policy. In the second step, we develop a theoretical, microfounded, two-sector model that explicitly accounts for the loss of productivity of workers. The compensation of climate-change mitigation costs would require allocation of separate funds for the affected consumers and workers.
dc.affiliationUniwersytet Warszawski
dc.contributor.authorBoratyński, Jakub
dc.contributor.authorWitajewski-Baltvilks, Jan
dc.date.accessioned2024-01-26T12:07:15Z
dc.date.available2024-01-26T12:07:15Z
dc.date.copyright2021-08-20
dc.date.issued2021
dc.description.accesstimeAT_PUBLICATION
dc.description.financePublikacja bezkosztowa
dc.description.number55
dc.description.versionFINAL_PUBLISHED
dc.description.volume8
dc.identifier.doi10.2478/CEEJ-2021-0017
dc.identifier.urihttps://repozytorium.uw.edu.pl//handle/item/125223
dc.identifier.weblinkhttps://sciendo.com/article/10.2478/ceej-2021-0017
dc.languageeng
dc.pbn.affiliationeconomics and finance
dc.relation.ispartofCentral European Economic Journal
dc.relation.pages231-245
dc.rightsCC-BY-NC-ND
dc.sciencecloudnosend
dc.subject.encomputable general equilibrium models
dc.subject.enintegrated assessment models
dc.subject.enjust transition
dc.subject.enmacroeconomic costs of transition
dc.subject.enwelfare compensation
dc.subject.plmodele równowagi ogólnej (CGE)
dc.subject.plmodele zintegrowane
dc.subject.plsprawiedliwa transformacja
dc.subject.plmakroekonomiczne koszty transformacji
dc.subject.pltransfery redystrybucyjne
dc.titleWorkers or Consumers: Who Pays for Low-Carbon Transition – Theoretical Analysis of Welfare Change in General Equilibrium Setting
dc.typeJournalArticle
dspace.entity.typePublication