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The Portfolio of Economic Policies Needed to Fight Climate Change

Author

Listed:
  • Olivier Blanchard

    (Peterson Institute of International Economics, Toulouse School of Economics, Toulouse Capitole University, Toulouse, France)

  • Christian Gollier

    (Peterson Institute of International Economics, Toulouse School of Economics, Toulouse Capitole University, Toulouse, France)

  • Jean Tirole

    (Peterson Institute of International Economics, Toulouse School of Economics, Toulouse Capitole University, Toulouse, France)

Abstract

Climate change poses an existential threat. Theoretical and empirical research suggest that carbon pricing and green R&D support are the right tools, but their implementation can be improved. Other policies, such as standards, bans, and targeted subsidies, also all have a role to play, but they have often been incoherent, and their implementation is delicate.

Suggested Citation

  • Olivier Blanchard & Christian Gollier & Jean Tirole, 2023. "The Portfolio of Economic Policies Needed to Fight Climate Change," Annual Review of Economics, Annual Reviews, vol. 15(1), pages 689-722, September.
    • Handle: RePEc:anr:reveco:v:15:y:2023:p:689-722
    DOI: 10.1146/annurev-economics-051520-015113
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    2. Lackner, Teresa & Fierro, Luca Eduardo & Mellacher, Patrick, 2024. "Opinion Dynamics meet Agent-based Climate Economics: An Integrated Analysis of Carbon Taxation," OSF Preprints rdfze, Center for Open Science.
    3. Roy Kouwenberg & Chenglong Zheng, 2023. "A Review of the Global Climate Finance Literature," Sustainability, MDPI, vol. 15(2), pages 1-32, January.
    4. Kantorowicz, Jaroslaw & Collewet, Marion & DiGiuseppe, Matthew & Vrijburg, Hendrik, 2024. "How to finance green investments? The role of public debt," Energy Policy, Elsevier, vol. 184(C).
    5. Federico Lubello, 2024. "From Brown to Green: Climate Transition and Macroprudential Policy Coordination," JRFM, MDPI, vol. 17(10), pages 1-20, October.
    6. Belaïd, Fateh & Flambard, Véronique, 2024. "Ecological-behavioral economics: Impact of information on energy-renovation decision through third-party investing," Ecological Economics, Elsevier, vol. 221(C).
    7. Dirk Pilat, 2024. "Climate Change and Productivity– An Exploration," International Productivity Monitor, Centre for the Study of Living Standards, vol. 47, pages 54-86, Fall.
    8. St'ephane Cr'epey & Mekonnen Tadese & Gauthier Vermandel, 2024. "Sensitivity Analysis of emissions Markets: A Discrete-Time Radner Equilibrium Approach," Papers 2411.06185, arXiv.org.
    9. Katinka Holtsmark & Katinka Kristine Holtsmark, 2024. "Can Revenue Recycling Kill Green Technology?," CESifo Working Paper Series 11510, CESifo.
    10. Xu, Qi & Liu, Kui, 2024. "Hero or Devil: A comparison of different carbon tax policies for China," Energy, Elsevier, vol. 306(C).
    11. Ioan-Iulian Norocel & Eugen-Marian Vierescu, 2024. "The Relationship between Environmental, Social and Governance Factors, Economic Growth, and Banking Activity," JRFM, MDPI, vol. 17(7), pages 1-12, July.
    12. Jordi Jofre‐Monseny & Pilar Sorribas‐Navarro, 2024. "Landfill tax and recycling," Fiscal Studies, John Wiley & Sons, vol. 45(4), pages 483-500, December.
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    More about this item

    Keywords

    climate change; carbon price; green R&D; carbon border adjustment; climate finance;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • F18 - International Economics - - Trade - - - Trade and Environment
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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