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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Macroeconomics of the Climate Transition Location: D-105 Session Chair: Inès Mourelon, University of Bologna | |
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Overcapacity as Climate Policy University of Strathclyde, United Kingdom We build a Climate-economy IAM incorporating a monopolistically competitive supply side (Krugman, 1980) resulting in a model featuring increasing returns to scale. Optimal policy is both a carbon tax to shift composition towards low carbon sectors, and an investment subsidy to boost the size of the capital stock. Our main theoretical result is that the optimal carbon tax is decreasing in the the degree of increasing returns to scale in the economy. We use this model to look at Chinese overcapacity in manufactures, explaining the combination of cheap finance enabled investments in the capacity to create vast scale in EV and solar panel manufactures. | |