Impact of Climate Policy on the Basque Economy

Mikel González-Eguino and Rob Dellink

No 2005.113, Working Papers from Fondazione Eni Enrico Mattei

Abstract: In this paper we analyze the economic effects of CO2 emission reductions in the Basque Country (Spain) using an applied general equilibrium (AGE) model with specific attention to environment-energy-economy interactions. Environmental policy is implemented through a system of tradable pollution permits that the government auctions. The costs of different levels of CO2 abatement are discussed, focusing on the variations of macroeconomic, sectoral and environment-energy variables. Results show that the costs for achieving the Kyoto targets can remain limited if the appropriate combination of changes in fuel-mix and restructuring of the economy is induced.

Keywords: Applied general equilibrium; Climate change; Tradable pollution permits; Basque country (search for similar items in EconPapers)
JEL-codes: D58 H21 Q20 Q48 (search for similar items in EconPapers)
Date: 2005-09
New Economics Papers: this item is included in nep-ene, nep-env, nep-pbe and nep-res
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Working Paper: Impact of Climate Policy on the Basque Economy (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2005.113

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