Aude Pommeret, Professeure en sciences économiques à l'IREGE, Université Savoie Mont Blanc

Aude Pommeret, Professeure en sciences économiques à l’Institut de Recherche en Gestion et Économie (IREGE) à l'Université Savoie Mont Blanc, anime le séminaire du 23 mai 2024.

voir son CV

Titre de sa présentation : Carbon Taxes and Tariffs, Financial Frictions, and International Spillovers.
Article co-écrit avec Stefano Carattini, Giseong Kim et Givi Melkadze.

Résumé : Ambitious climate policy, coupled with financial frictions, has the potential to create macrofinancial stability risk. Such stability risk may expand beyond the economy implementing climate policy, potentially catching other countries off guard. International spillovers may occur because of trade and financial channels. Hence, we study the design and effects of climate policies in the world economy with international trade and financial flows. We develop a two-sector, two-country, dynamic general equilibrium model with financial frictions, climate policies, including carbon tariffs, and macroprudential policies. Using the calibrated model, we evaluate spillovers from unilateral domestic carbon pricing to  foreign economies and back. We also examine more ambitious climate architectures involving carbon tariffs or a global carbon price. We find that accounting for cross-border financial flows and frictions in credit markets is crucial to understand the effects of climate policies and to guide the implementation of macroprudential policies at the global scale aimed at minimizing transition risk and paving the way for ambitious climate policy.

Le séminaire a lieu à 14 heures en salle 227.