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Abstract
This paper investigates the effectiveness of different carbon reduction policies in China using a multi-technology sectoral dynamic stochastic general equilibrium (DSGE) model. The study compares a carbon emission cap policy with fossil fuel and renewable energy technology subsidy policies. Findings suggest that subsidy policies are more effective for long-term emission reduction, with fossil fuel subsidies proving more cost-efficient. The paper also analyzes the impact of various economic shocks on macroeconomic growth and pollutant emissions under each policy scenario.
Publisher
Humanities and Social Sciences Communications
Published On
Jun 20, 2024
Authors
Jianping Gu, Yi Li, Jingke Hong, Lu Wang
Tags
carbon reduction policies
China
dynamic stochastic general equilibrium
emission cap
subsidy policies
macroeconomic growth
pollutant emissions

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