Article
Environmental Sciences
Jingtao Li, Qiang Du, Cheng Lu, Youdan Huang, Xiaoyan Wang
Summary: China's vision of achieving carbon peak and carbon neutrality has placed higher demands on low-carbon development in the transportation industry. Finding appropriate mitigation strategies for low-carbon transportation has become a crucial part of low-carbon economic development. This study uses a CGE model to analyze the impact of carbon tax implementation on the transportation industry. It explores different carbon tax-recycling scenarios and evaluates the potential double dividend effects of carbon tax policy. Additionally, it investigates the combination of improved energy efficiency and a carbon tax as suitable mitigation strategies. The study finds that while carbon tax leads to reduced carbon emissions, it also decreases sectoral outputs. However, carbon tax recycling can alleviate the negative impact on sectoral outputs, thus achieving both reduced carbon emissions and economic sustainability. Improved energy efficiency may result in an energy rebound effect that reduces the effectiveness of carbon emissions reduction. Yet, the implementation of a carbon tax can promote consumer awareness of emission reduction and reduce the energy rebound effect in the transportation industry. Hence, timely formulation of carbon tax policies alongside improvements in energy efficiency can better promote sustainable development in various transportation sectors.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2023)
Article
Economics
Na Liu, Xilong Yao, Fang Wan, Yunfei Han
Summary: Based on a dynamic CGE model, this paper explores the impact of revenue recycling schemes based on industry-differentiated carbon taxes. The findings show that indirect revenue recycling schemes can effectively mitigate the negative economic impacts of carbon taxes, while direct recycling schemes may affect carbon reduction effects. Different industries should adopt different revenue recycling schemes, with reductions in corporate and personal income taxes being more beneficial for carbon emission reduction.
Article
Business, Finance
Hussein Abedi Shamsabadi, Imen Tebourbi, Mohammad Nourani, Byung S. Min
Summary: This study investigates the supply of Dividend Reinvestment Plans (DRPs) in Australia, finding that good corporate governance leads to higher DRP supply. However, the presence of franked dividends and heavily discounted DRPs weaken this positive association, highlighting the importance of institutional settings in influencing dividend policy decisions.
FINANCE RESEARCH LETTERS
(2021)
Article
Green & Sustainable Science & Technology
Susana Silva, Isabel Soares, Oscar Afonso
Summary: Taxes often face public opposition, but if emissions tax revenues are used to subsidize renewables and achieve a double dividend, public opposition may decrease. Focusing solely on total emissions and total output may be misleading, and a wider range of indicators can provide a better insight into the desirability of environmental policies.
ENVIRONMENT DEVELOPMENT AND SUSTAINABILITY
(2021)
Article
Environmental Studies
Weijiang Liu, Min Liu, Yangyang Li, Tingting Liu
Summary: This article assesses the economic, energy, and environmental effects of consumption tax, carbon tax, and their combination in China from 2022 to 2035. The results show that lowering consumption tax boosts economic growth but does not reduce emissions, while a separate carbon tax reduces emissions but harms the economy. However, combining lower consumption taxes with a medium carbon tax rate could have a double dividend effect, promoting economic growth and consistently reducing pollution emissions.
ENERGY & ENVIRONMENT
(2022)
Article
Construction & Building Technology
Qiang Du, Yanan Dong, Jingtao Li, Yuelin Zhao, Libiao Bai
Summary: The rapid development of energy consumption and carbon emissions in China's construction industry poses a significant challenge for the country's energy and environment. This study explores the impact of carbon tax on the industry through a CGE model and suggests that a tax rate of 40 RMB/t-CO2 is the most appropriate. The study also finds that recycling carbon tax revenue and improving energy efficiency can have a positive impact on the construction industry.
Article
Green & Sustainable Science & Technology
Yuanyuan Sun, Xianqiang Mao, Xinan Yin, Gengyuan Liu, Jun Zhang, Yanwei Zhao
Summary: This study explores the impact of carbon tax rate and tax revenue recycling shares on the economy and carbon emissions through a computable general equilibrium model. A nonlinear optimization model is proposed to optimize both steps of carbon taxation synchronously, aiming to promote GDP and CO2 emission reduction. The optimized taxation scheme, applied in the Bohai Bay area in China, leads to lower carbon emissions and greater economic growth, showcasing a strong double dividend with cleaner air and energy structures.
JOURNAL OF CLEANER PRODUCTION
(2021)
Article
Environmental Sciences
Simon Matti, Jonas Nassen, Jorgen Larsson
Summary: This study examines the impact of different revenue uses on public attitudes towards environmental taxation, and finds that both tax level and revenue use significantly influence policy acceptance. Interestingly, directing the revenues towards aviation biofuels generates the most positive attitudes towards the policy.
ENVIRONMENTAL SCIENCE & POLICY
(2022)
Article
Economics
Youyi Deng, Kangyin Dong, Farhad Taghizadeh-Hesary, Jinjun Xue
Summary: Changes in international markets and strict environmental regulations have challenged Chinese energy companies to achieve sustainable and low-carbon development. This study examines the impact of China's environmental protection tax reform on the resilience and CO2 emissions of energy firms, using a sample of 296 Chinese energy firms from 2011 to 2021. The results show that the reform can improve the resilience of energy firms while reducing CO2 emissions, and government subsidies and corporate social financing play important roles in this process.
ECONOMIC ANALYSIS AND POLICY
(2023)
Article
Business, Finance
Dongmin Kong, Mianmian Ji
Summary: This paper examines the impact of individual investors' dividend tax on corporate investment efficiency and finds that reducing dividend tax for individual investors significantly improves corporate investment efficiency. Furthermore, the dividend tax reform also increases the attention on firms' long-term development and promotes the financialization of firms.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2024)
Article
Green & Sustainable Science & Technology
Yuanyuan Sun, Jun Zhang, Xianqiang Mao, Xinan Yin, Gengyuan Liu, Yanwei Zhao, Wei Yang
Summary: This study examined the impacts of energy and carbon taxes on the energy-water nexus. It found that both taxes have significant effects on the proportion of water and energy consumption in direct-use and embodied-use nexus, but similar effects on the hybrid-use nexus.
JOURNAL OF CLEANER PRODUCTION
(2021)
Article
Green & Sustainable Science & Technology
Shiro Takeda, Toshi H. Arimura
Summary: This study examines the effects of environmental tax reform in Japan and finds that environmental tax reform tends to generate more desirable impacts than a pure carbon tax. In particular, reducing corporate taxes leads to the most desirable outcomes in terms of GDP and national income.
SUSTAINABILITY SCIENCE
(2021)
Article
Economics
Janusz Kudla, Katarzyna Kopczewska, Monika Stachowiak-Kudla
Summary: The inequalities among countries and their bilateral relationship affect the asymmetry of rules in double taxation agreements. The most important factor for low asymmetry is the intensity of bilateral trade. The differences in countries' wealth and taxation increase asymmetry but they are of less importance. These findings help to improve the negotiation of tax treaties and spur bilateral cooperation, especially when differences among countries are substantial.
ECONOMIC MODELLING
(2023)
Article
Economics
Moritz Wagner, Xiaopeng Wei
Summary: This paper analyzes the extent of cum-ex trading in European markets and finds that it is associated with abnormal trading activity around the dividend day of a stock. The study suggests that this trading strategy is consistent with maximizing returns and leads to substantial losses to treasuries due to illicit tax refunds.
Article
Business, Finance
Dongmin Kong, Mianmian Ji, Fan Zhang
Summary: This paper examines the effect of individual investors' dividend tax on corporate social responsibility (CSR). The study shows that reducing the dividend tax for individual investors significantly reduces the fulfillment of CSR activities related to all stakeholders, except for shareholders. The mechanism behind this is that the tax reform encourages individual investors to increase holding periods, leading to a decrease in institutional investors and external monitoring pressure. The effect is particularly significant in firms with high ownership concentration, low individual investor attention, and low executive ownership. This study highlights the unintended consequences of individual investors' dividend tax on CSR fulfillment and provides clear policy recommendations for regulators concerned with CSR and investor protection.
JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY
(2022)
Article
Economics
Marie-Louise Arlt, David Chassin, Claudio Rivetta, James Sweeney
Summary: This paper examines the impact of real-time pricing and load automation on residential distribution systems. The study finds that implementing real-time pricing can result in an aggregate welfare gain of 39 USD per customer and year. However, it also notes that RTP and load automation may significantly increase peak system load. Introducing a market-based demand management system can further enhance welfare gains and reduce grid investment.
Article
Economics
Javier Jorquera-Copier, Alvaro Lorca, Enzo Sauma, Stefan Lorenczik, Matias Negrete-Pincetic
Summary: As countries update their climate ambitions, low-carbon hydrogen production and use present opportunities for emissions reductions and economic development. A case study for Chile shows that integrating hydrogen and electricity networks can lower system costs and enhance renewable integration, but policy support is needed to address concerns related to water and land use.
Article
Economics
Dawit Guta, Hisham Zerriffi, Jill Baumgartner, Abhishek Jain, Sunil Mani, Darby Jack, Ellison Carter, Guofeng Shen, Jennifer Orgill-Meyer, Joshua Rosenthal, Katherine Dickinson, Rob Bailis, Yuta Masuda
Summary: Household solid fuel use is detrimental to health and the environment. The Indian government's PMUY subsidy has successfully promoted the adoption of LPG by millions of households. However, there is limited understanding of the decision-making process to reduce solid fuel use after transitioning to cleaner fuels. This study found that factors such as household wealth, social status, education level, and the prevalence of LPG use in the village are positively associated with LPG consumption and the discontinuation of solid fuel use. On the other hand, factors such as distance to LPG refill delivery, household size, and the PMUY subsidy are negatively associated with the share of LPG use.
Article
Economics
Nicolas Morell-Dameto, Jose Pablo Chaves-Avila, Tomas Gomez San Roman, Pablo Duenas-Martinez, Tim Schittekatte
Summary: This paper assesses the performance of differently implemented forward-looking network tariff designs and proposes an innovative coordination mechanism to increase predictability in a future with many flexible customers. The study reveals that if large shares of customers synchronize their responses to highly time-varying and locational-specific network charges, it can lead to unexpected reinforcements.
Article
Economics
Alexandra Gritz, Guntram Wolff
Summary: Russia's weaponization of gas supplies shook the energy security of Central and Eastern Europe in 2022. The region responded by increasing alternative energy supplies and developing new gas supply routes. Renewable energy, nuclear energy, and hydrogen play important roles in the long-term. Mitigating the impact of this shock requires the EU to prioritize the integrity of its energy market.
Article
Economics
Jaroslaw Kantorowicz, Marion Collewet, Matthew DiGiuseppe, Hendrik Vrijburg
Summary: Economic costs are a major political obstacle to investing in climate change mitigation and adaptation measures. The method of financing plays a crucial role in determining public opposition to government green investments, with debt financing being less opposed than broad-based taxes. This study suggests that credit market tools, such as green bonds and debt for climate swaps, can be politically efficient in increasing support for green financing. Carbon taxes and wealth taxes are found to be the most preferred options.
Article
Economics
Kun Guo, Liyuan Luan, Xiaoli Cai, Dayong Zhang, Qiang Ji
Summary: This paper investigates China's energy trade stability using a survival analysis approach. It finds that the energy trade linkages between China and 153 other countries are complex and unstable, with short periods of trade with many countries. Geopolitically risky regions, such as the Middle East and Africa, have the lowest trade stability. Climate risks have significant effects on energy trade stability. The paper proposes several policy options to improve energy trade stability in China, with special attention to increasing global climate risks.
Article
Economics
Simona Bigerna, Piyush Choudhary, Nikunj Kumar Jain, Silvia Micheli, Paolo Polinori
Summary: This study estimates the willingness to pay of Indian urban consumers for a continuous supply of electricity using contingent valuation method. The findings show that the amount consumers are willing to pay depends on the duration of power outages, with households preferring shorter outages. Income and environmental attitude also positively influence higher willingness to pay. These insights can inform policymakers in designing more reliable and customer-centric energy generation and distribution models.
Article
Economics
Temilade Sesan, Unico Uduka, Lucy Baker, Okechukwu Ugwu, Ewah Eleri, Subhes Bhattacharyya
Summary: This study examines the impact of the regulatory framework on rural electrification and universal energy access goals in Nigeria's mini-grid sector. The findings suggest that while the current framework has fostered sector growth, additional measures are necessary to ensure equitable distribution of access among rural populations.
Article
Economics
Rui Shan, Noah Kittner
Summary: Energy storage is a cornerstone in decarbonization planning as it reduces operational costs and greenhouse gas emissions, while enhancing resilience and renewables integration. However, storage developers in different regions have varying economic and environmental considerations, thereby requiring policy intervention to achieve long-term emission reductions.
Article
Economics
Tung Durmaz, Sevil Acar, Simay Kizilkaya
Summary: This study investigates the phenomenon of strategic capacity withholding in the Turkish electricity market and its relationship with the capacity remuneration mechanism. The empirical results provide strong evidence of strategic capacity withholding and show that the capacity mechanism contributes to the duration of failures. The study offers important insights for policymakers, including the implementation of a random verification mechanism and restructuring of the capacity mechanism in Turkey.
Article
Economics
Tii N. Nchofoung
Summary: The study finds that oil price shocks have a negative impact on Africa's energy transition, particularly in rural areas and net crude oil exporting countries. However, oil price shocks cannot explain the urban-rural differences in clean energy access. Therefore, increasing investment in clean energy and technologies in rural areas is necessary to enhance the resilience of the energy sector to oil price shocks.
Article
Economics
Najia Saqib, Muhammad Usman, Ilhan Ozturk, Arshian Sharif
Summary: This study examines the impact of environmental technologies, financial growth, and energy use on ecological footprint and green growth. Environmental innovation and renewable energy deployment contribute to green growth, while financial expansion and non-renewable energy use have negative effects on the environment. The study also identifies causal relationships between different factors.
Article
Economics
Yessica C. Y. Chung, Noxolo Kunene, Hung-Hao Chang
Summary: The Renewable Energy Certificate (REC) is considered an innovative technology for building a green society. This study investigates the impact of REC purchases on stock return and volume in Taiwan between 2017 and 2021. The findings suggest that REC purchases have a positive effect on stock returns of manufacturing firms but not service firms. The frequency of REC purchases is also an important factor in the relationship between REC purchase and firm value. Additionally, the study reveals that public attention to environmental pollution plays a crucial role in positive stock returns and volume, while ESG disclosure is negatively associated with returns and volume.
Article
Economics
Seife Ayele, Wei Shen, Yacob Mulugetta, Tadesse Kuma Worako
Summary: This paper addresses the challenges of governing energy procurement from a mix of non-hydropower renewable energy sources supplied by independent producers. Building on political economy analysis and five case studies of independent producer projects from Ethiopia, it seeks to understand the root causes of the protracted delays and limited extent of procurement by independent producers. The key contestations lie in managing long term contracts, risk, uncertainty and in developing the institutional and human capacity to transition.