| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP9256
|
| DP9256 The Fossile Episode |
| Hans-Werner Sinn; John Hassler
|
| 发表日期 | 2012-12-09
|
| 出版年 | 2012
|
| 语种 | 英语
|
| 摘要 | We build a two-sector dynamic general equilibrium model with one-sided substitutability between fossil carbon and biocarbon. One shock only, the discovery of the technology to use fossil fuels, leads to a transition from an inital pre-industrial phase to three following phases: a pure fossil carbon phase, a mixed fossil and biocarbon phase and an absorbing biocarbon phase. The increased competition for biocarbon during phase 3 and 4 leads to increasing food prices. We provide closed form expressions for this price increase. Our calibration leads to a price increase of 40% if capital and labor are allowed to move to the biocarbon sector. Otherwise, the price increase is much higher. We also use the model to analyze the consequences of restrictions on using biocarbon as fuel. We show that such restrictions can lead to a substantially slower global warming due to an endogenous slowdown of fossil fuel extraction. |
| 主题 | International Macroeconomics
|
| 关键词 | Biocarbon
Climate change
Fossil fuel
|
| URL | https://cepr.org/publications/dp9256
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538092
|
推荐引用方式
GB/T 7714 |
Hans-Werner Sinn,John Hassler. DP9256 The Fossile Episode. 2012.
|
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