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1、Climate Policy and the Economy By D.Knzig and M.KonradtDiscussion by Felix Kbler(UZH,SFI)The Future of Macroeconomic Policy Norway 2023 Its warming and its usGlobal average temperature changeTemperature change(C)1.251.00.750.50.250.0-0.25-0.5-0.7518501875190019251950197520002025NASA GISSHadCRUTNOAAJ
2、apan Met.Berkeley EarthAnd its badWhat can we do?Carbon Pricing Bans and Rules R&D:Manhattan project?Economists love carbon taxes2 Carbon Theorems1.Climate Change is an externality and Pareto efficiency can be restored via carbon pricing 2.(Anderson and Duanmo(2023):Given any emissions there are pri
3、ces that support them.RemarksJust like the standard welfare theorems,these are benchmarks,nobody believes them.Are Pareto-improvements possible?How much do details matter?This paperLook at effects of two carbon pricing schemes in the EU ETS Carbon Taxes in various EU statesCarbon prices2 MethodsHigh
4、 Frequency Identification(Knzig(2021,23)Control Based Identification(Metcalf and Stock(2023)ETS vs Taxes?Possible StoriesUse of revenue Pass-through Leakage Monetary PolicyCommentsCould levels explain part of the differences?Standard errors and difference between the two methodsWhy stop 2019?Different methods