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Climate Change Implications for the Public Finances and Fiscal Policy: An Agenda for Future Research and Filling the Gaps in Scholarly Work

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  • de Mello Luiz

    (Economics Department, OECD. 2, Rue André Pascal, Paris 75775 Cedex 16, Paris, France)

  • Martinez-Vazquez Jorge

    (International Center for Public Policy, Georgia State University, Atlanta, USA)

Abstract

Climate change will pose a major challenge for humanity in future decades. Central to the policy debate are its implications for the public finances and the conduct of fiscal policy more generally. This editorial outlines the budgetary effects, the regulatory and standard-setting challenges, internal governmental organisational changes, and the resource reallocation implications of policies to control climate change and their efficient implementation. The scope for further work – both theoretical and empirical – to bridge existing gaps in the related economics literature is then discussed. Finally, the editorial outlines research questions and first steps on an agenda for policy-relevant research.

Suggested Citation

  • de Mello Luiz & Martinez-Vazquez Jorge, 2022. "Climate Change Implications for the Public Finances and Fiscal Policy: An Agenda for Future Research and Filling the Gaps in Scholarly Work," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 16(1), pages 194-198, January.
    • Handle: RePEc:bpj:econoa:v:16:y:2022:i:1:p:194-198:n:5
    DOI: 10.1515/econ-2022-0026
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    References listed on IDEAS

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    1. Ian W.H. Parry & John Norregaard & Dirk Heine, 2012. "Environmental Tax Reform: Principles from Theory and Practice," Annual Review of Resource Economics, Annual Reviews, vol. 4(1), pages 101-125, August.
    2. Samuel Kortum & David A. Weisbach, 2021. "Optimal Unilateral Carbon Policy," CESifo Working Paper Series 9409, CESifo.
    3. Jorge Martinez-Vazquez, 2021. "Adapting Fiscal Decentralization Design to Combat Climate Change," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper2105, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    4. Ian W.H. Parry & Mr. John Norregaard & Mr. Dirk Heine, 2012. "Environmental Tax Reform: Principles from Theory and Practice to Date," IMF Working Papers 2012/180, International Monetary Fund.
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    Cited by:

    1. Sean Dougherty & Andoni Montes Nebreda, 2022. "Going global, locally? Decentralized environmental expenditure and air quality," Public Sector Economics, Institute of Public Finance, vol. 46(4), pages 489-503.
    2. Luiz de Mello & João Tovar Jalles, 2022. "Natural disasters, epidemics and intergovernmental relations: More or less decentralisation?," Working Papers REM 2022/0248, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    3. Hrozencik, R. Aaron & Perez-Quesada, Gabriela & Bocinsky, Kyle, 2024. "The Stocking Impact and Financial-Climate Risk of the Livestock Forage Disaster Program," Economic Research Report 340568, United States Department of Agriculture, Economic Research Service.

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