Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Trade and the environment Location: Auditorium C: Thore Johnsen Session Chair: Eunseong Park, ZEW Mannheim | |
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The Welfare Effects of Border Carbon Measures for Steel Industry Decarbonization 1: ZEW Mannheim, Germany; 2: University of Mannheim, Germany; 3: Heidelberg University, Germany; 4: Carnegie Mellon University, USA Border carbon adjustments are pivotal for addressing carbon leakage in emissions-intensive and trade-exposed sectors like steel. This paper evaluates the economic and environmental impacts of different border carbon adjustment designs, including mass-based approaches, such as those tied to carbon pricing, and rate-based approaches, which levy fees based on carbon intensity. Additionally, we analyze the interplay of these designs when implemented unilaterally or jointly. Using a novel structural equilibrium model of the global steel market with plant-level detail, we simulate four policy scenarios involving the European Union and the United States. Our findings reveal that rate-based policies achieve minimal global emissions reductions at high welfare costs, while mass-based policies achieve significantly greater reductions at comparable costs. The interplay between policies highlights the risks of uncoordinated actions, which create trade distortions and reduce policy effectiveness, underscoring the need for coordinated, sector-sensitive climate strategies. | |