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research article

A post-COVID-19 economic assessment of the Chilean NDC revision

Babonneau, Frédéric Louis François
•
Vielle, Marc  
2023
Climate Change economics

intensity-based emissions reductions to an effective emissions target. This paper aims to assess the economic and environmental impacts of this change in the current context of high uncertainty Chile faces with social protests and the COVID-19 pandemic. Using the computable general equilibrium model GEMINI-E3, we performed a sensitivity analysis assuming different levels of economic growth through 2030. Though at first glance the revised commitments appear more ambitious, we found that they could lead to higher emissions in low-growth scenarios. The results show that intensity-based emissions targets indeed become less stringent when assuming high levels of economic growth and thus may result in highly uncertain effective emissions in 2030. On the other hand, given the uncertainty surrounding Chilean economic growth, the updated commitments would be politically more amenable as it would lead in lower welfare losses. In addition, we analyse different redistribution schemes of a CO2 tax and we show that a per capita redistribution rule makes the CO2 tax more progressive and thus fiscally more acceptable.

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Type
research article
DOI
10.1142/S2010007823500021
Author(s)
Babonneau, Frédéric Louis François
•
Vielle, Marc  
Date Issued

2023

Published in
Climate Change economics
Volume

14

Issue

01

Article Number

2350002

Subjects

Climate Policy

•

COVID-19

•

Chile

•

Carbon tax

•

Inequality

Peer reviewed

REVIEWED

Written at

EPFL

EPFL units
LEURE  
Available on Infoscience
January 22, 2021
Use this identifier to reference this record
https://infoscience.epfl.ch/handle/20.500.14299/174874
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