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Carbon Taxes: Their Macroeconomic Effects and Prospects for Global Adoption: A Survey of the Literature

Author

Listed:
  • Mr. Ved P. Gandhi
  • Mr. Javier Cuervo

Abstract

The carbon tax is a major instrument for curbing greenhouse gas emissions that cause global warming. Yet its adoption has been limited because of concerns over its effects on economic growth, income distribution, and international competitiveness. The paper shows that policymakers can minimize the effects of the tax on economic growth through an efficient recycling of tax revenues and on equity through the adoption of appropriate mitigating or compensating measures. To eliminate the worry about the loss of competitiveness, the paper suggests an international agreement on a coordinated adoption of the tax.

Suggested Citation

  • Mr. Ved P. Gandhi & Mr. Javier Cuervo, 1998. "Carbon Taxes: Their Macroeconomic Effects and Prospects for Global Adoption: A Survey of the Literature," IMF Working Papers 1998/073, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1998/073
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    Citations

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    Cited by:

    1. Petr David, 2019. "Can the Czech Road Tax be considered a Tax on Externalities?," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2019(1), pages 47-63.
    2. Juris Justitio Hakim Putra & Nabilla Nabilla & Fidelia Yemima Jabanto, 2021. "Comparing Carbon Tax and Cap and Trade as Mechanism to Reduce Emission in Indonesia," International Journal of Energy Economics and Policy, Econjournals, vol. 11(5), pages 106-111.
    3. Petr David, 2020. "Rates of CO2 registration taxes levied on passenger cars in the EU - can they cause distortion?," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2020(1), pages 07-32.

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