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ID:
099354
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| Publication |
2010.
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| Summary/Abstract |
Under the pressure of global warming, it is imperative for Chinese government to impose effective policy instruments to promote domestic energy saving and carbon emissions reduction. As one of the most important incentive-based policy instruments, carbon tax has sparked a lively controversy in China. This paper explores the impact of carbon tax on Chinese economy, as well as the cushion effects of the complementary policies, by constructing a dynamic recursive general equilibrium model. The model can describe the new equilibrium for each sequential independent period (e.g. one year) after carbon tax and the complementary policies are imposed, and thus describe the long-term impacts of the policies. The simulation results show that carbon tax is an effective policy tool because it can reduce carbon emissions with a little negative impact on economic growth; reducing indirect tax in the meantime of imposing carbon tax will help to reduce the negative impact of the tax on production and competitiveness; in addition, giving households subsidy in the meantime will help to stimulate household consumptions. Therefore, complementary policies used together with carbon tax will help to cushion the negative impacts of carbon tax on the economy. The dynamic CGE analysis shows the impact of carbon tax policy on the GDP is relatively small, but the reduction of carbon emission is relatively large.
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| 2 |
ID:
116908
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| Publication |
2012.
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| Summary/Abstract |
China is the largest energy consumer and CO2 emitter in the world. The Chinese government faces growing challenges of ensuring energy security and reducing greenhouse gas emissions. To address these two issues, the Chinese government has announced two ambitious domestic indicative autonomous mitigation targets for 2020: increasing the ratio of non-fossil energy to 15% and reducing carbon dioxide emissions per unit of GDP by 40-45% from 2005 levels. To explore the role of non-fossil energy in achieving these two targets, this paper first provides an overview of current status of non-fossil energy development in China; then gives a brief review of GDP and primary energy consumption; next assesses in detail the role of the non-fossil energy in 2020, including the installed capacity and electricity generation of non-fossil energy sources, the share and role of non-fossil energy in the electricity structure, emissions reduction resulting from the shift to non-fossil energy, and challenges for accomplishing the mitigation targets in 2020; finally, conclusions and policy measures for non-fossil energy development are proposed.
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