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GTAP Resource #3053

"Capital Malleability and the Macroeconomic Costs of Climate Policy"
Authors: Lanzi, Elisa and Sue Wing Ian


Abstract
This paper argues for introducing the role of capital malleability into the analysis of environmental policies. The issue is explored by means of a theoretical model, a numerical analysis and a computable general equilibrium (CGE) model. Considering the three approaches together is fundamental in obtaining theory-compatible policy-relevant results. The model outcomes reveal differences between results under separate assumptions regarding the malleability of capital. When capital is imperfectly malleable a carbon policy is less effective than under the assumption of perfect malleability of capital. Therefore, it is important that, especially for the analysis of short-term environmental regulations, the issue of capital malleability is taken into consideration.


Resource Details () GTAP Keywords
Category: 2009 Conference Paper
Status: Published
By/In: Presented at the 12th Annual Conference on Global Economic Analysis, Santiago, Chile
Date: 2009
Version:
Created: Lanzi, E. (4/15/2009)
Updated: Lanzi, E. (4/15/2009)
Visits: 3,086
No keywords have been specified.


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