Fiscal Monitor: How to Mitigate Climate Change

Fiscal Monitor, October 2019

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Fiscal Monitor: How to Mitigate Climate Change

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Bibliographic details

• Authors: Vitor Gaspar
• Published: October 16, 2019

Core findings and purpose

• Emphasizes the environmental, fiscal, economic, and administrative case for using carbon taxes, or similar pricing schemes such as emission trading systems, to implement climate mitigation strategies.
• Provides a quantitative framework for understanding the effects and trade-offs of carbon pricing with other instruments and applies it to the largest advanced and emerging economies.
• Recognizes alternative approaches, like “feebates” to impose fees on high polluters and give rebates to cleaner energy users, as important when higher energy prices are difficult politically.

Policy instruments analyzed

• Carbon taxes and emission trading systems as primary instruments for climate mitigation.
• “Feebates” as a complementary or alternative approach where direct energy price increases face political constraints.
• Discussion of redistribution of carbon-pricing revenues and the consequences for inequality across households.

International arrangements and recommendations

• Calls for a carbon price floor arrangement among large emitters.
• The proposed carbon price floor is to be designed flexibly to accommodate equity considerations and constraints on national policies.

Distributional and political considerations

• Estimates the consequences of carbon pricing and redistribution of its revenues for inequality across households.
• Discusses strategies for enhancing the political acceptability of carbon pricing.
• Recommends supporting measures to promote clean technology investments alongside pricing instruments.

Report contents (navigation to analytical material)

• Executive Summary
• Full Text
• Online Annexes
• Statistical Appendix
• Data
• Press Conference Remarks Vitor Gaspar

Fiscal Monitor: How to Mitigate Climate Change — October 2019.

Content in this bundle

• Fiscal Monitor Database — October 2019
  • Fiscal Monitor Database — October 2019 (Markdown version)
  • Fiscal Monitor Database — October 2019 (XLSX)
• Executive Summary
  • Executive Summary (Markdown version)
  • Executive Summary (PDF)
• Online Annexes. IMF Fiscal Monitor: How to Mitigate Climate Change, October 2019
  • Online Annexes. IMF Fiscal Monitor: How to Mitigate Climate Change, October 2019 (Markdown version)
  • Online Annexes. IMF Fiscal Monitor: How to Mitigate Climate Change, October 2019 (PDF)
• Methodological and Statistical Appendix, IMF Fiscal Monitor, October 2019
  • Methodological and Statistical Appendix, IMF Fiscal Monitor, October 2019 (Markdown version)
  • Methodological and Statistical Appendix, IMF Fiscal Monitor, October 2019 (PDF)
• Full Report
  • Full Report (Markdown version)
  • Full Report (PDF)

References

• Fiscal Policies to Curb Climate Change By Vitor Gaspar, Paolo Mauro, Ian Parry, and Catherine Pattillo
• https://www.imf.org/en/publications/weo
• Global Economy in Crosscurrents of War and Technology
• https://www.imf.org/en/publications/gfsr
• Global Financial Markets Confront the War in the Middle East and Amplification Risks
• https://www.imf.org/en/publications/fm
• Fiscal Policy under Pressure: High Debt, Rising Risks
• https://www.imf.org/en/publications/reo
• Asia and Pacific
• Europe
• Middle East and Central Asia
• Sub-Saharan Africa
• Western Hemisphere
• https://www.imf.org/en/publications/areb
• Getting to Growth in an Age of Uncertainty
• https://www.imf.org/en/publications/finance-development
• More Publications
• Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.
• Modify your profile
• Press Conference Remarks Vitor Gaspar
• https://www.imf.org/en/home