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Political Science > Environmental Policy

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Efficiency; Optimal Taxation x
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Cover Selected Issues Papers
Deep Dive on the Climate Transition for France: Macroeconomic Implications, Fiscal Policies, and Financial Risks
Iulia Ruxandra Teodoru, Xun Li, Rachel Lee, Hugo Rojas-Romagosa, and Nate Vernon
Climate change presents an unprecedented long-term challenge to the French and global economy. While France has made significant progress towards reducing greenhouse gas emissions, important additional policy efforts will be needed to meet key mitigation targets. Decarbonization costs and risks can be significant, highlighting the need to identify efficient and equitable fiscal and regulatory policy options to meet emission goals. To accelerate the green transition and mitigate its costs, France has increasingly relied on green spending measures, which could be complemented by higher carbon pricing and other revenue-neutral schemes. Recycling of revenues via cash transfers could offset the price impact on lower-income households. Over the medium term, new measures for road transportation, such as distance-based charges, could also be considered. Ensuring a timely and orderly climate transition will be critical to mitigate the credit risk impact on banks. French banks should also continue to mitigate climate transition risks by integrating them into their governance, strategy, and risk management processes.
Keywords:
Climate Transition; Climate fiscal policies; Financial transition risks; policy option; climate transition risk; reform option; EU climate policy; transportation revenue; Greenhouse gas emissions; Global; Europe
Cover IMF Working Papers
The Macroeconomic Effects of Environmental Taxes: A Closer Look at the Feasibility of “Win-Win” Outcomes
Ms. Jenny E Ligthart
This paper reviews recent literature on the macroeconomic effects of environmental taxes. It attempts to delineate the conditions under which a cleaner environment is compatible with attaining macroeconomic objectives, such as more employment and economic growth. The analysis reveals that an environmentally motivated fiscal reform—using the revenues from environmental taxes to cut labor taxes—may yield employment and environmental dividends if the tax burden can be shifted to agents outside the labor market, such as capitalists, transfer recipients, and foreigners. A cleaner environment and a higher rate of economic growth go hand in hand if the environment is considered an important public input into production.
Keywords:
WP; renewable resource; Pigovian tax; public spending; employment dividend; diminishing returns; terms of trade; Abatement; environmental taxes; double dividend; endogenous growth; green tax reform; optimal taxation; pollution.; physical capital; rate of economic growth; public goods; market economy; Environmental policy; Natural resources; Labor taxes
Cover IMF Working Papers
Tax Policy and the Environment: Theory and Practice
Mr. David C Nellor and Mr. Ronald T. McMorran
This paper provides a framework for examining environment taxes. It reviews the theoretical efficiency of three types of environment taxes: taxes on emissions or Pigouvian taxes; taxes on productive inputs or consumer goods whose use is related to environmental damage; and environment-related provisions in other taxes. A survey of environment taxes in 42 countries--drawn from developing countries, economies in transition, and industrial countries--illustrates that the use of environment taxes differs dramatically from the recommendations of environment tax theory. This divergence between the theory and practice of environment taxes can be attributed to several factors; environment taxes are difficult to implement, there are many factors that impede their effectiveness, and their introduction may be discouraged by their implications for other policy objectives.
Keywords:
WP; environment tax; tax; firm; environmental damage; cost; Pigouvian tax; marginal social cost; external cost; Consumption taxes; Environmental taxes; Tax efficiency; Environmental policy; Eastern Europe