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Global | Descifrando el impacto de los precios del carbono en la macroeconomía
[Global | Unraveling the impact of a carbon price shock on macroeconomic variables]

Author

Listed:
  • Joxe Mari Barrutiabengoa
  • Agustín García
  • Rodrigo Falbo
  • Juan Rubio

Abstract

This study analyzes the macroeconomic effects of carbon price shocks (EU-ETS) via a SVAR with Narrative Sign Restrictions. Facilitating identification and isolating shocks from demand factors, results indicate a stronger economic impact than previous carbon policy studies, but milder than recent works focused on the EU-ETS. This study analyzes the macroeconomic effects of carbon price shocks (EU-ETS) via a SVAR with Narrative Sign Restrictions. Facilitating identification and isolating shocks from demand factors, results indicate a stronger economic impact than previous carbon policy studies, but milder than recent works focused on the EU-ETS.

Suggested Citation

  • Joxe Mari Barrutiabengoa & Agustín García & Rodrigo Falbo & Juan Rubio, 2025. "Global | Descifrando el impacto de los precios del carbono en la macroeconomía [Global | Unraveling the impact of a carbon price shock on macroeconomic variables]," Working Papers 25/04, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:2504
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    More about this item

    Keywords

    Greenhose Gas Emissions; Emisiones de gases de efecto invernadero; EU-ETS; EU-ETS; SVAR; SVAR; GDP; PIB; European economy; economía europea; Global; Global; Europe; Europa; Macroeconomic Analysis; Análisis Macroeconómico; Energy and Commodities; Energía y Materias Primas; Climate Sustainability; Sostenibilidad Climática; Working Paper; Documento de Trabajo;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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