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- Engström, Gustav, et al.
(författare)
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What Policies Address Both the Coronavirus Crisis and the Climate Crisis?
- 2020
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Ingår i: Environmental and Resource Economics. - : Springer Science and Business Media LLC. - 0924-6460 .- 1573-1502. ; 76, s. 789-810
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Tidskriftsartikel (refereegranskat)abstract
- The coronavirus pandemic has led many countries to initiate unprecedented economic recovery packages. Policymakers tackling the coronavirus crisis have also been encouraged to prioritize policies which help mitigate a second, looming crisis: climate change. We identify and analyze policies that combat both the coronavirus crisis and the climate crisis. We analyze both the long-run climate impacts from coronavirus-related economic recovery policies, and the impacts of long-run climate policies on economic recovery and public health post-recession. We base our analysis on data on emissions, employment and corona-related layoffs across sectors, and on previous research. We show that, among climate policies, labor-intensive green infrastructure projects, planting trees, and in particular pricing carbon coupled with reduced labor taxation boost economic recovery. Among coronavirus policies, aiding services sectors (leisure services such as restaurants and culture, or professional services such as technology), education and the healthcare sector appear most promising, being labor intensive yet low-emission-if such sectoral aid is conditioned on being directed towards employment and on low-carbon supply chains. Large-scale green infrastructure projects and green R&D investment, while good for the climate, are unlikely to generate enough employment to effectively alleviate the coronavirus crisis.
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| 2. |
- Jaakkola, Niko, et al.
(författare)
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Finders, keepers?
- 2019
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Ingår i: Journal of Public Economics. - : Elsevier BV. - 0047-2727 .- 1879-2316. ; 169, s. 17-33
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Tidskriftsartikel (refereegranskat)abstract
- Natural resource taxation and investment often exhibit cyclical behavior, driving political turmoil and shifts in power. By way of a rational-expectations model under limited commitment, we show that cycles arise endogenously from the interaction between firms' investment decisions and government taxation. Large resource revenues induce a high tax, lowering exploration investment and thereby future findings. This later leads the government to reduce tax rates, inducing high investment and high future taxes, and so on. Cycling may occur even under a government that cares about the future, but a sufficiently patient government is also able to avoid cycles altogether. Our model can thus also account for why some countries have stable resource taxation regimes. Tax differentiation on mine vintage avoids cycles as well and, surprisingly, increases government revenues. Our findings are consistent with stylized facts: we document evidence of cyclical behavior in a large number of countries with both strong and weak institutions, and provide detailed case studies of two Latin American countries. A simple empirical analysis suggests that our investment mechanism is consistent with about half of all expropriations in the oil and gas sector, the same fraction as exogenous price shocks.
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