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ID: 150627

Good things do not always come in threes: on the excess cost of overlapping regulation in EU climate policy / Bohringer, Christoph

Bohringer, Christoph	Journal Article
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Summary/Abstract

Since the mid-1990's the European Union (EU) aims at pushing global climate policy. The objective is to promote international cooperation by the adoption of substantial EU-wide greenhouse gas emission reduction targets and their least-cost implementation. Our quantitative impact assessment of the EU Climate and Energy Package shows that the myriad of instruments used in the EU to curb greenhouse gas emissions is doomed to generate substantial excess cost. We conclude that EU climate and energy policy should better disentangle its choices of objectives, targets, and policy instruments on rigorous economic grounds in order to improve the coherence and overall cost-effectiveness of policy initiatives.

Key Words

Climate Policy ; Computable General Equilibrium ; Overlapping Regulation

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ID: 119781

Transition towards a low carbon economy: a computable general equilibrium analysis for Poland / Bohringer, Christoph; Rutherford, Thomas F

Bohringer, Christoph	Journal Article
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2013.

Summary/Abstract

In the transition to sustainable economic structures the European Union assumes a leading role with its climate and energy package which sets ambitious greenhouse gas emission reduction targets by 2020. Among EU Member States, Poland with its heavy energy system reliance on coal is particularly worried on the pending trade-offs between emission regulation and economic growth. In our computable general equilibrium analysis of the EU climate and energy package we show that economic adjustment cost for Poland hinge crucially on restrictions to where-flexibility of emission abatement, revenue recycling, and technological options in the power system. We conclude that more comprehensive flexibility provisions at the EU level and a diligent policy implementation at the national level could achieve the transition towards a low carbon economy at little cost thereby broadening societal support.

Key Words

Climate Policy ; Impact Assessment ; Computable General Equilibrium Analysis

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