Thomas Douenne, Maître de conférence en économie à l'Université d'Amsterdam

Nous avons le plaisir d'accueillir Thomas Douenne, Maître de conférence en Economie à l'Université d'Amsterdam.

Ses principaux domaines de recherche se situent à l'intersection entre la politique environnementale et les inégalités.

Titre de sa présentation : Optimal Climate Policy with Incomplete Markets.

Résumé : This paper examines dynamic, optimal climate policy in a fiscal climate-economy model with incomplete markets. Initially, in a simple two-period model, we isolate several mechanisms through which inequality, risk, and borrowing constraints affect optimal climate policy. We then introduce a new fiscal climate-economy framework with incomplete markets, which we calibrate to reflect critical aspects of the U.S. economy, particularly household inequality and risk, carbon emissions, and abatement technologies. Within this framework, we solve a Ramsey problem for a government that has access to multiple instruments, including carbon taxes and government debt. In all scenarios, optimal carbon taxes grow at a faster rate than GDP until the economy reaches carbon neutrality. Moreover, we show that granting the planner the flexibility to determine the timing of debt and lump-sum transfers significantly affects redistribution, insurance, aggregate variables, and welfare. Yet, surprisingly, this flexibility has minimal influence on the optimal trajectory of climate policy.

Le séminaire a lieu à 13h30 en salle 227.