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The Effects of a Sudden CO2 reduction in Spain

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Author Info

  • Xavier Labandeira

    (rede & Department of Applied Economics. University of Vigo)

  • Miguel Rodriguez

    (rede & Department of Applied Economics. University of Vigo)

Abstract

Spanish emissions of carbon dioxide have grown by more than 40% in 2004 with respect to 1990. This is not compatible with the EU allocation of Kyoto-mandated CO2 reduction, even taking into account that Spanish emissions are allowed to rise by 15% in 2010. The reasons for this situation stem from a combination of economic growth and an inefficient energy domain, coupled with a total absence of climate change policies. In this paper, we use a static general equilibrium model to assess the effects of a sudden and intense (ie, with a limited time to carry out significant abatement) CO2 reduction by the Spanish economy. Our results show that the costs of immediate and medium-size reductions are not significant in the short run and could lead to the attaining of the EU agreed emissions level for Spain. However, delaying such action means that the degree of Spanish CO2 emission reduction is much higher and that economic costs are far more important.

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Bibliographic Info

Paper provided by EconWPA in its series Others with number 0412001.

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Length: 26 pages
Date of creation: 02 Dec 2004
Date of revision:
Handle: RePEc:wpa:wuwpot:0412001

Note: Type of Document - pdf; pages: 26
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Web page: http://128.118.178.162

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Keywords: Climate; energy; market;

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References

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  14. Melchor Fernandez & Casiano Manrique de Lara, 2004. "La matriz de contabilidad nacional: Un método alternativo de presentación de las cuentas nacionales," Documentos de trabajo - Analise Economica 0030, IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia.
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Cited by:
  1. Childs, Jack, 2012. "Kyoto and the EU CEP 2020: A Dynamic Study of the impacts on the Agricultural Sector in Spain," 86th Annual Conference, April 16-18, 2012, Warwick University, Coventry, UK 135074, Agricultural Economics Society.

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