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Price effects of an emissions trading scheme in New Zealand

  • Lennox, James A.
  • Andrew, Robbie
  • Forgie, V.

Implementation of a New Zealand Emission Trading Scheme (NZ ETS) will begin in 2008, beginning with forestry, subsequently including energy and industrial emissions, and finally, agricultural GHGs from 2013. Reducing agricultural emissions is a major challenge for New Zealand as they account for over half its total GHG emissions. On the other hand, agriculture is critical to the economy, with its basic and processed products accounting for a third of exports. We use an environmental input-output model to analyse direct and indirect cost impacts of emissions pricing on food and fibre sectors. At NZ $25/t CO₂-eq, costs of energy-related emissions on the food and fibre sectors are very small; however, costs of agricultural emissions post 2013 would substantially impact on sheep, beef and dairy farming. Costeffective mitigation measures and land use changes should help reduce micro- and macroeconomic impacts, but the latter may also risk 'emissions leakage'.

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File URL: http://purl.umn.edu/6678
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Paper provided by European Association of Agricultural Economists in its series 107th Seminar, January 30-February 1, 2008, Sevilla, Spain with number 6678.

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Date of creation: 2008
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Handle: RePEc:ags:eaa107:6678
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  1. Antonia Cornwell & John Creedy, 1996. "Carbon taxation, prices and inequality in Australia," Fiscal Studies, Institute for Fiscal Studies, vol. 17(3), pages 21-38, August.
  2. Joanna Hendy & Suzi Kerr & Troy Baisden, 2006. "Greenhouse gas emissions charges and credits agricultural land: what can a model tell us?," Working Papers 06_04, Motu Economic and Public Policy Research.
  3. Xavier Labandeira & José M. Labeaga, 1999. "Combining input-output analysis and micro-simulation to assess the effects of carbon taxation on Spanish households," Fiscal Studies, Institute for Fiscal Studies, vol. 20(3), pages 305-320, September.
  4. Saunders, Caroline M. & Wreford, Anita & Cagatay, Selim, 2006. "Trade liberalisation and greenhouse gas emissions: the case of dairying in the European Union and New Zealand," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(4), December.
  5. John Creedy & Catherine Sleeman, 2005. "Carbon Taxation, Prices and Welfare in New Zealand," Department of Economics - Working Papers Series 937, The University of Melbourne.
  6. Lenzen, Manfred, 1998. "Primary energy and greenhouse gases embodied in Australian final consumption: an input-output analysis," Energy Policy, Elsevier, vol. 26(6), pages 495-506, May.
  7. Elizabeth Symons & John Proops & Philip Gay, 1994. "Carbon taxes, consumer demand and carbon dioxide emissions: a simulation analysis for the UK," Fiscal Studies, Institute for Fiscal Studies, vol. 15(2), pages 19-43, May.
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