Mitigating Climate Change: Growth-Friendly Policies to Achieve Net Zero Emissions by 2050
July 23, 2021
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Summary
Background paper prepared for the October 2020 IMF World Economic Outlook. This paper provides a detailed presentation of the simulation results from the October 2020 IMF World Economic Outlook chapter 3 and an additional scenario with carbon pricing only for comparison with the comprehensive policy package where green investments were also included. This paper has greatly benefitted from continuous discussions with Oya Celasun and Benjamin Carton on the design of simulations; contributions from Philip Barrett for part of the simulations; and research support from Jaden Kim. We also received helpful comments from other IMF staff. All remaining errors are ours. McKibbin and Liu acknowledge financial support from the Australian Research Council Centre of Excellence in Population Ageing Research (CE170100005).
Subject: Carbon tax, Climate finance, Environment, Greenhouse gas emissions, Non-renewable resources, Taxes
Keywords: B. Policy tool, baseline CO2 emission, Carbon tax, Climate finance, climate mitigation strategy, Europe, Global, Greenhouse gas emissions, Non-renewable resources, policy package, scenario design
Pages:
35
Volume:
2021
DOI:
Issue:
195
Series:
Working Paper No. 2021/195
Stock No:
WPIEA2021195
ISBN:
9781513592978
ISSN:
1018-5941
