考慮減碳租稅政策以及零利率下限時的動態隨機一般均衡模型

Introducing Carbon-reduction Taxes under the Zero Lower Bound in A DSGE Model

劉武宣(Liu Wu-Xuan)

指導教授 ： 賴廷緯

國立政治大學/社會科學學院/經濟學系/碩士(2022年)

https://doi.org/10.6814/NCCU202201177

摘要

本文建立一個新興凱因斯的動態隨機一般均衡模型，分析若政策以課徵碳租稅達到減少碳排放量為目的，在給定零利率下限條件下，經濟體系面臨衝擊的景氣波動。本文的估計結果發現，對於政府而言，貨幣政策在通膨的敏感度比產出波動的敏感度高。然而在總和需求出現大幅度的負面衝擊時，且政府制定利率面臨零利率下限的窘境，會大幅降低投資市場的報酬率，並造成更嚴重的總和產出衰退。

關鍵字

隨機動態一般均衡模型 ； 碳稅 ； 泰勒法則 ； 零利率下限

並列摘要

This paper builds a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model to analyze the effects of government taxes aiming to decrease carbon dioxide emission. We investigate business cycle fluctuations under the zero lower bound condition. We obtain the following results: (i) monetary policies are more sensitive to inflation than to output gap; (ii) when a dramatic negative shock occurs, the government is subject to the difficulty since the nominal interest rate cannot be lower than the zero lower bound. In this context, the shock will substantially reduce the rate of return in the capital market, leading to worse output declines.

並列關鍵字

DSGE model ； carbon tax ； Taylor’s rule ； zero lower bound

參考文獻

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