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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
    as

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    References listed on IDEAS

    as
    1. Frances C. Moore & Moritz A. Drupp & James Rising & Simon Dietz & Ivan Rudik & Gernot Wagner, 2024. "Synthesis of evidence yields high social cost of carbon due to structural model variation and uncertainties," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 121(52), pages 2410733121-, December.
    2. Juan F. Rubio-Ramírez & Daniel F. Waggoner & Tao Zha, 2010. "Structural Vector Autoregressions: Theory of Identification and Algorithms for Inference," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 77(2), pages 665-696.
    3. Jonas E. Arias & Juan F. Rubio‐Ramírez & Daniel F. Waggoner, 2018. "Inference Based on Structural Vector Autoregressions Identified With Sign and Zero Restrictions: Theory and Applications," Econometrica, Econometric Society, vol. 86(2), pages 685-720, March.
    4. Berthold, Brendan & Cesa-Bianchi, Ambrogio & Di Pace, Federico & Haberis, Alex, 2023. "The Heterogeneous Effects of Carbon Pricing: Macro and Micro Evidence," CEPR Discussion Papers 18312, C.E.P.R. Discussion Papers.
    Full references (including those not matched with items on IDEAS)

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    More about this item

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    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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