Climate Policy and The Energy Transition
気候政策とエネルギー転換 (AI 翻訳)
Roy Sarkis
🤖 gxceed AI 要約
日本語
本論文は、再生可能・非再生可能エネルギー、部門別資本調整、家計エネルギー需要、内生的化石資源動態を含む多部門動学的一般均衡モデルを用いて、気候政策のマクロ経済動学を分析。段階的政策導入が移行コストを大幅に削減し、補助金と課税の組み合わせが厚生損失を緩和することを示す。また、化石燃料探査と埋蔵量依存の採掘コストが政策を通じて座礁資産を生み出す構造的メカニズムを解明。
English
This paper studies the macroeconomic dynamics of climate policy in a multi-sector dynamic general equilibrium model with renewable and non-renewable energy. It finds that gradual policy implementation sharply reduces transition costs (welfare gain of 2.26-5.06 percentage points), and that renewable subsidies and fossil taxes support capital accumulation. Endogenous fossil resource dynamics provide a structural mechanism for stranded assets.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本は2030年46%削減目標達成に向け、排出量取引・炭素課金の本格導入を検討中。本論文の段階的政策導入の厚生メリットや部門別カバレッジの分析は、日本の政策設計に示唆を与える。再エネ賦課金や炭素税の設計にも関連。
In the global GX context
Globally, the paper contributes to the debate on carbon pricing, sectoral scope, and policy sequencing in the net-zero transition. Its findings on welfare costs under different implementation speeds are relevant for jurisdictions designing green fiscal packages and just transition mechanisms.
👥 読者別の含意
🔬研究者:A multi-sector GE framework with endogenous fossil dynamics that can be extended to incorporate financial frictions or heterogeneous firms.
🏛政策担当者:Gradual policy with sectoral differentiation can substantially lower macroeconomic costs of deep decarbonization.
📄 Abstract（原文）
This paper studies the macroeconomic dynamics of climate policy in a multi-sector dynamic general equilibrium model with renewable and non-renewable energy, sector-specific capital adjustment frictions, household energy demand, and endogenous fossil resource dynamics. The central mechanism is that decarbonization requires reallocating energy use and installed capital: fossil energy demand can contract immediately, while renewable capacity and abatement adjust only gradually. The analysis delivers four results. First, gradual policy implementation sharply reduces transition costs: relative to immediate implementation, gradual emissions caps improve welfare by 2.26 percentage points under comprehensive regulation and by 5.06 percentage points under firm-only regulation. Second, renewable energy subsidies and non-renewable energy taxes support renewable capital accumulation and reduce, but do not eliminate, the welfare cost of front-loaded tightening. Third, sectoral coverage changes the welfare ranking across implementation speeds. Firm-only regulation performs better under gradual implementation because it shields utility-relevant household energy services, but becomes nearly as costly as the carbon-price-only transition under immediate implementation. Fourth, endogenous fossil exploration and stock-dependent extraction costs transmit climate policy into lower extraction, fewer discoveries, and a declining shadow value of reserves, providing a structural mechanism for stranded fossil assets. The results show that deep decarbonization can be achieved at substantially lower macroeconomic cost when policy manages the speed and incidence of energy-capital reallocation.
🔗 Provenance — このレコードを発見したソース
- arXiv https://arxiv.org/abs/2606.18994first seen 2026-06-18 04:11:32
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