Short-run impact of the implementation of EU climate and energy package for Poland: computable general equilibrium model simulations

Jan Hagemejer and Zbigniew Żółkiewski ()
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Zbigniew Żółkiewski: Narodowy Bank Polski, Postal: 00-919 Warsaw, 11/21, Świętokrzyska Str., https://nbp.pl/

Bank i Kredyt, 2013, vol. 44, issue 3, 237-260

Abstract: The aim of the study is to analyse the short run impact of the EU climate and energy package on the Polish economy. We employ a computable general equilibrium (CGE) model and focus on the short-run reaction of the economy to the shock, before the persistent structural changes takes place, thereby allowing for short-term policy conclusions. The results show a relatively mild response of the economy to a seemingly significant shock in the costs of production. There is a considerable negative effect on private consumption. While the reaction of the economy depends on the flexibility of the labour market and the response of the investment demand, we observe that while budget-neutral transfers to the households dampen the negative response of private consumption, lowering of labour-related taxes reduce the burden on economic activity.

Keywords: computable general equilibrium; environmental policy; climate change (search for similar items in EconPapers)
JEL-codes: C68 Q48 Q54 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:nbp:nbpbik:v:44:y:2013:i:3:p:237-260

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