NDLI: An Assessment of Japanese Carbon Tax Reform Using the E3MG Econometric Model

Content Provider	PubMed Central
Author	Lee, Soocheol Pollitt, Hector Ueta, Kazuhiro
Copyright Year	2012
Abstract	This paper analyses the potential economic and environmental effects of carbon taxation in Japan using the E3MG model, a global macroeconometric model constructed by the University of Cambridge and Cambridge Econometrics. The paper approaches the issues by considering first the impacts of the carbon tax in Japan introduced in 2012 and then the measures necessary to reduce Japan's emissions in line with its Copenhagen pledge of −25% compared to 1990 levels. The results from the model suggest that FY2012 Tax Reform has only a small impact on emission levels and no significant impact on GDP and employment. The potential costs of reducing emissions to meet the 25% reduction target for 2020 are quite modest, but noticeable. GDP falls by around 1.2% compared to the baseline and employment by 0.4% compared to the baseline. But this could be offset, with some potential economic benefits, if revenues are recycled efficiently. This paper considers two revenue recycling scenarios. The most positive outcome is if revenues are used both to reduce income tax rates and to increase investment in energy efficiency. This paper shows there could be double dividend effects, if Carbon Tax Reform is properly designed.
Related Links	http://dx.doi.org/10.1100/2012/835917
Starting Page	835917
File Format	PDF
ISSN	1537744X
e-ISSN	1537744X
Journal	The Scientific World Journal
Volume Number	2012
Language	English
Publisher	The Scientific World Journal
Publisher Date	2012-01-01
Access Restriction	Open
Rights Holder	The Scientific World Journal
Subject Keyword	Biochemistry, Genetics and Molecular Biology(all) Environmental Science(all) Medicine(all) Research in Higher Education
Content Type	Text
Resource Type	Article
Subject	Medicine Biochemistry, Genetics and Molecular Biology Environmental Science

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