Arbeitspapier
The intergenerational incidence of green tax reform
We examine the lifetime incidence and intergenerational distributional effects of an economywide carbon tax swap using a numerical dynamic general equilibrium model with overlapping generations of the U.S. economy. We highlight various fundamental choices in policy design including (1) the level of the initial carbon tax, (2) the growth rate of the carbon tax trajectory of over time, and (3) alternative ways for revenue recycling. Without revenue recycling, we find that generations born before the tax is introduced experience smaller welfare losses, or even gain, relative to future generations. For sufficiently low growth rates of the tax trajectory, the impacts for distant future generations decrease over time. For future generations born after the introduction of the tax, the negative welfare impacts are the smallest (largest) when revenues are recycled through lowering pre-existing capital income taxes (through per-capita lump-sum rebates). For generations born before the tax is introduced, we find that lump-sum rebates favor very old generations and labor (capital) income tax recycling favors very young generations (generations of intermediate age).
- Sprache
-
Englisch
- Erschienen in
-
Series: Economics Working Paper Series ; No. 18/287
- Klassifikation
-
Wirtschaft
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Energy and the Macroeconomy
Computable General Equilibrium Models
- Thema
-
Carbon tax
Green Tax Reform
Intergenerational Incidence
Distributional Impacts
Overlapping Generations
Climate Policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Rausch, Sebastian
Yonezawa, Hidemichi
- Ereignis
-
Veröffentlichung
- (wer)
-
ETH Zurich, CER-ETH - Center of Economic Research
- (wo)
-
Zurich
- (wann)
-
2018
- DOI
-
doi:10.3929/ethz-b-000248326
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Rausch, Sebastian
- Yonezawa, Hidemichi
- ETH Zurich, CER-ETH - Center of Economic Research
Entstanden
- 2018
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