Macroéconomie du court terme et politique climatique : quelques leçons d'un modèle d'offre et demande globales (notice n° 838223)
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| fixed length control field | 02291cam a2200217 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250123141331.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Fagnart, Jean-François |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Macroéconomie du court terme et politique climatique : quelques leçons d'un modèle d'offre et demande globales |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2014.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 25 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Short-term Macroeconomics and Climate Policy: A Few Lessons from an Aggregate Demand and Supply ModelWe introduce the concept of carbon footprint into an aggregate demand and supply model with imperfectly competitive price and wage formation. We analyse the properties of the short-term macroeconomic equilibrium in the presence of a climate policy, which may take the form either of a carbon tax or of quotas of pollution permits. We show that in the short run climate policy (or its strengthening) is simultaneously a negative aggregate supply shock and a positive aggregate demand shock. It is thus inflationary but it has an ambiguous impact on aggregate economic activity and employment: it will only stimulate output in an economy where nominal wages are rigid enough. In all cases, climate policy will depress real wages.We also analyse the interactions between climate policy and the usual macroeconomic policies of demand (fiscal and monetary stimuli) and supply (labour tax cut). The multiplier effects of these demand and supply policies depend on the instrument chosen for implementing the climate policy (carbon tax or pollution permits).We finally establish the conditions under which a reform combining a climate policy strengthening and a labour tax cut can reach the double objective of a lower carbon footprint and a lower unemployment rate, without reducing workers’ real wages. Such a policy reform has however an ambiguous impact on the government surplus (or deficit). JEL Classification: E10, E60, Q58. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Aggregate Demand and Supply |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | carbon tax |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | climate policy |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | pollution permits |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Germain, Marc |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Recherches économiques de Louvain | 80 | 1 | 2014-05-19 | p. 31-60 | 0770-4518 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-recherches-economiques-de-louvain-2014-1-page-31?lang=fr&redirect-ssocas=7080">https://shs.cairn.info/revue-recherches-economiques-de-louvain-2014-1-page-31?lang=fr&redirect-ssocas=7080</a> |
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