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GTAP Resources: Resource Display

GTAP Resource #6815

"A flexible Approach to Modeling Carbon Pricing and Carbon Border Adjustment in the GTAP-E model"
by Clora, Francesco, Erwin Corong and Wusheng Yu

This paper extends the GTAP-E version 7 model by implementing a flexible approach to modeling carbon pricing and carbon border adjustment (CBAM) mechanisms. In particular, we extend GTAP-E by: (a) modifying the current economy-wide carbon pricing mechanism to allow users to specify sectors covered by carbon taxes; (b) allowing for the possibility of imposing taxes on either CO2 emissions or non-CO2 emissions or both; (c) implementing a national or global emissions trading system (ETS) with flexible sectoral coverage; and (d) alternative EU CBAM mechanisms. We highlight the usefulness of these extensions by running simulations based on the European Union’s (EU) ETS, Effort Sharing Decisions (ESD) and alternative CBAM implementations in line with the EU Green Deal. This paper is divided into four main sections. The first section provides an overview of the GTAP-E model while the second section explains the extensions with accompanying model code changes. The third section analyzes our EU Green Deal simulation results, and the final section concludes and provides directions for further research.

Resource Details (Export Citation) GTAP Keywords
Category: 2023 Conference Paper
Status: Not published
By/In: Presented during the 26th Annual Conference on Global Economic Analysis (Bordeaux, France)
Date: 2023
Created: Clora, F. (4/2/2023)
Updated: Clora, F. (4/2/2023)
Visits: 701
- Advances in quantitative methods
- Model extension/development
- Climate change policy
- Trade and the environment

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