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  Optimal carbon taxation and horizontal equity: A welfare-theoretic approach with application to German household data

Hänsel, M. C., Franks, R. M., Kalkuhl, M., Edenhofer, O. (2022): Optimal carbon taxation and horizontal equity: A welfare-theoretic approach with application to German household data. - Journal of Environmental Economics and Management, 116, 102730.
https://doi.org/10.1016/j.jeem.2022.102730

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 Urheber:
Hänsel, Martin C.1, Autor              
Franks, R. Maximilian1, Autor              
Kalkuhl, Matthias2, Autor
Edenhofer, Ottmar1, Autor              
Affiliations:
1Potsdam Institute for Climate Impact Research, ou_persistent13              
2External Organizations, ou_persistent22              

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Schlagwörter: Carbon price, Optimal taxation, Horizontal equity, Redistribution, Clean energy subsidies, Climate policy, Just transition
 Zusammenfassung: We develop a model of optimal taxation and redistribution under an ambitious climate target. We take into account vertical income differences, but also explicitly capture horizontal equity concerns by considering heterogeneous energy efficiencies. By deriving first- and second-best rules for policy instruments including carbon and labor taxes, transfers and energy subsidies, we investigate analytically how vertical and horizontal inequality is considered in the welfare maximizing tax structure. We calibrate the model to German household data and a 30 percent emission reduction goal and show that redistribution of carbon tax revenues via household-specific transfers is the first-best policy. Under plausible assumptions on inequality aversion, transfers to energy-intensive households should be about five times higher than transfers to energy-efficient households. Equal per-capita transfers do not require to observe households’ efficiency type, but increase equity-weighted mitigation costs by around 5 percent compared to the first-best. Mitigation costs increase by less, if the government can implement a uniform clean energy subsidy or household-specific tax-subsidy schemes on energy consumption and labor income that target heterogeneous energy efficiencies. Horizontal equity concerns may therefore constitute a new second-best rationale for clean energy policies or differentiated energy taxes.

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Sprache(n): eng - Englisch
 Datum: 2021-02-262022-09-092022-10-13
 Publikationsstatus: Final veröffentlicht
 Seiten: 26
 Ort, Verlag, Ausgabe: -
 Inhaltsverzeichnis: -
 Art der Begutachtung: Expertenbegutachtung
 Identifikatoren: DOI: 10.1016/j.jeem.2022.102730
MDB-ID: yes - 3500
PIKDOMAIN: Director / Executive Staff / Science & Society
PIKDOMAIN: RD3 - Transformation Pathways
Organisational keyword: Director Edenhofer
Organisational keyword: RD3 - Transformation Pathways
Research topic keyword: Carbon Pricing
Research topic keyword: Inequality and Equity
Research topic keyword: Climate Policy
OATYPE: Hybrid Open Access
 Art des Abschluß: -

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Titel: Journal of Environmental Economics and Management
Genre der Quelle: Zeitschrift, SCI, Scopus
 Urheber:
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Ort, Verlag, Ausgabe: -
Seiten: - Band / Heft: 116 Artikelnummer: 102730 Start- / Endseite: - Identifikator: CoNE: https://publications.pik-potsdam.de/cone/journals/resource/journal-of-environmental-economics-and-management
Publisher: Elsevier