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Mitigating Climate Change: Growth-Friendly Policies to Achieve Net Zero Emissions by 2050

Author

Listed:
  • Ms. Florence Jaumotte
  • Weifeng Liu
  • Warwick J. McKibbin
Abstract
Background paper prepared for the October 2020 IMF World Economic Outlook. This paper provides a detailed presentation of the simulation results from the October 2020 IMF World Economic Outlook chapter 3 and an additional scenario with carbon pricing only for comparison with the comprehensive policy package where green investments were also included. This paper has greatly benefitted from continuous discussions with Oya Celasun and Benjamin Carton on the design of simulations; contributions from Philip Barrett for part of the simulations; and research support from Jaden Kim. We also received helpful comments from other IMF staff. All remaining errors are ours. McKibbin and Liu acknowledge financial support from the Australian Research Council Centre of Excellence in Population Ageing Research (CE170100005).

Suggested Citation

  • Ms. Florence Jaumotte & Weifeng Liu & Warwick J. McKibbin, 2021. "Mitigating Climate Change: Growth-Friendly Policies to Achieve Net Zero Emissions by 2050," IMF Working Papers 2021/195, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2021/195
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    Cited by:

    1. Carè, R. & Fatima, R. & Boitan, I.A., 2024. "Central banks and climate risks: Where we are and where we are going?," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1200-1229.
    2. Neill Bartie & Lucero Cobos‐Becerra & Florian Mathies & Janardan Dagar & Eva Unger & Magnus Fröhling & Markus A. Reuter & Rutger Schlatmann, 2023. "Cost versus environment? Combined life cycle, techno‐economic, and circularity assessment of silicon‐ and perovskite‐based photovoltaic systems," Journal of Industrial Ecology, Yale University, vol. 27(3), pages 993-1007, June.
    3. Banning, Maximilian & Großmann, Anett & Heinisch, Katja & Hohmann, Frank & Lutz, Christian & Schult, Christoph, 2023. "Evidence-based support for adaptation policies in emerging economies," IWH Studies 2/2023, Halle Institute for Economic Research (IWH).
    4. Warwick Mc & David Vines, 2023. "Longer-term structural transitions and short-term macroeconomic adjustment: quantitative implications for the global financial system," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 39(2), pages 245-266.

    More about this item

    Keywords

    policy package; climate mitigation strategy; baseline CO2 emission; scenario design; B. Policy tool; Carbon tax; Greenhouse gas emissions; Non-renewable resources; Climate finance; Global; Europe;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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