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Short-run impact of the implementation of EU climate and energy package for Poland: computable general equilibrium model simulations

The aim of the study is to analyse the short run impact of the EU climate and energy package on the Polish economy. We employ a computable general equilibrium (CGE) model and focus on the short-run reaction of the economy to the shock, before the persistent structural changes takes place, thereby allowing for short-term policy conclusions. The results show a relatively mild response of the economy to a seemingly significant shock in the costs of production. There is a considerable negative effect on private consumption. While the reaction of the economy depends on the flexibility of the labour market and the response of the investment demand, we observe that while budget-neutral transfers to the households dampen the negative response of private consumption, lowering of labour-related taxes reduce the burden on economic activity.

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Article provided by Narodowy Bank Polski in its journal Bank i Kredyt.

Volume (Year): 44 (2013)
Issue (Month): 3 ()
Pages: 237-260

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Handle: RePEc:nbp:nbpbik:v:44:y:2013:i:3:p:237-260
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  1. World Bank, 2011. "Transition to a Low-Emissions Economy in Poland," World Bank Other Operational Studies 27419, The World Bank.
  2. Abdullah, Sabah & Morley, Bruce, 2014. "Environmental taxes and economic growth: Evidence from panel causality tests," Energy Economics, Elsevier, vol. 42(C), pages 27-33.
  3. Dannenberg, Astrid & Mennel, Tim & Moslener, Ulf, 2008. "What does Europe pay for clean energy?--Review of macroeconomic simulation studies," Energy Policy, Elsevier, vol. 36(4), pages 1318-1330, April.
  4. Tomasz Łyziak, 2009. "Is Inflation Perceived by Polish Consumers Driven by Prices of Frequently Bought Goods and Services?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 51(1), pages 100-117, March.
  5. R.A. McDougall, 1993. "Short-Run Effects of A Carbon Tax," Centre of Policy Studies/IMPACT Centre Working Papers g-100, Victoria University, Centre of Policy Studies/IMPACT Centre.
  6. Jan Hagemejer & Tomasz Jedrzejowicz & Zbigniew Zolkiewski, 2011. "Fiscal tightening after the crisis. A scenario analysis for Poland," Bank i Kredyt, Narodowy Bank Polski, vol. 42(3), pages 33-66.
  7. Sam Meng & Mahinda Siriwardana & Judith McNeill, 2013. "The Environmental and Economic Impact of the Carbon Tax in Australia," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(3), pages 313-332, March.
  8. Capros, Pantelis & Mantzos, Leonidas & Parousos, Leonidas & Tasios, Nikolaos & Klaassen, Ger & Van Ierland, Tom, 2011. "Analysis of the EU policy package on climate change and renewables," Energy Policy, Elsevier, vol. 39(3), pages 1476-1485, March.
  9. Katarzyna Budnik & Michal Greszta & Michal Hulej & Marcin Kolasa & Karol Murawski & Michal Rot & Bartosz Rybaczyk & Magdalena Tarnicka, 2009. "The new macroeconometric model of the Polish economy," NBP Working Papers 62, Narodowy Bank Polski, Economic Research Department.
  10. Lawrence Goulder, 1995. "Environmental taxation and the double dividend: A reader's guide," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 2(2), pages 157-183, August.
  11. Leszek Kąsek & Olga Kiuila & Krzysztof Wójtowicz & Tomasz Żylicz, 2012. "Economic effects of differentiated climate action," Working Papers 2012-12, Faculty of Economic Sciences, University of Warsaw.
  12. repec:eid:wpaper:04/10 is not listed on IDEAS
  13. Pascal Da Costa & Oualid Gharbi & Pierre Le Mouel & Florent Pratlong & Danielle Schirmann-Duclos & Paul Zagamé, 2010. "Macroeconomic assessment for the EU 'Climate Action and Renewable Energy Package'," Working Papers hal-00995798, HAL.
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