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Special Issue on EMF 32 Study on U.S. Carbon Tax Scenarios; Guest Editors: A. A. Fawcett, J. McFarland, A. C. Morris and J. P. WeyantOpen Access

OVERVIEW OF THE EMF 32 STUDY ON U.S. CARBON TAX SCENARIOS

    https://doi.org/10.1142/S201000781840002XCited by:12
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    Abstract

    The Energy Modeling Forum (EMF) 32 study on carbon tax scenarios analyzed a set of illustrative policies in the United States that place an economy-wide tax on fossil-fuel-related carbon dioxide (CO2) emissions, a carbon tax for short. Eleven modeling teams ran these stylized scenarios, which vary by the initial carbon tax rate, the rate at which the tax escalates over time, and the use of the revenues. Modelers reported their results for the effects of the policies, relative to a reference scenario that does not include a carbon tax, on emissions, economic activity, and outcomes within the U.S. energy system. This paper explains the scenario design, presents an overview of the results, and compares results from the participating models. In particular, we compare various outcomes across the models, such as emissions, revenue, gross domestic product, sectoral impacts, and welfare.

    This article contains supplementary material available on the journal website. The supplementary material includes supporting graphics and analysis as well as the description of additional scenarios in the study.

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    Published: 20 March 2018
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