Macroeconomic simulation of a global carbon tax shock I
In this video, Kemar explores the effects of a rise in carbon tax accompanied by a temporary rise in global credit constraints. Kemar will guide you through the two key aspects of a carbon tax shock and the anticipated economic knock-on effects.
Overview
Climate change policies, such as carbon taxes and emissions trading schemes, have become key tools in limiting global temperature increases. The National Institute of Economic and Social Research analyses the macroeconomic impact of a carbon tax accompanied by a rise in credit constraints. NIESR models how in this scenario, lower GDP and higher inflation can be expected across all major economies.
Key learning objectives:
Identify two key scenarios modelled on a carbon tax shock
Understand the anticipated economic effects of carbon taxes
Summary
Expert
Kemar Whyte
Kemar Whyte is a senior economist at the National Institute of Economic and Social Research, specialising in macroeconomic modeling and forecasting. His research interests include financial stability and macroprudential regulation and supervision as well as applied macroeconomics and economic policy. Prior to joining NIESR in 2019, I obtained a masters degree in Economics from the University of the West Indies and a Ph.D. in economics from The University of Sheffield.
