Carbon tax accompanied by a revenue recycling increases Australia's GDP: A dynamic recursive CGE approach

Mashhadi Rajabi, M

Carbon tax accompanied by a revenue recycling increases Australia's GDP: A dynamic recursive CGE approach

Mashhadi Rajabi, M

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Publisher:: ELSEVIER SCI LTD
Publication Type:: Journal Article
Citation:: Journal of Cleaner Production, 2023, 418
Issue Date:: 2023-09-15

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Field	Value	Language
dc.contributor.author	Mashhadi Rajabi, M https://orcid.org/0000-0002-2127-7346
dc.date.accessioned	2024-02-26T02:40:13Z
dc.date.available	2024-02-26T02:40:13Z
dc.date.issued	2023-09-15
dc.identifier.citation	Journal of Cleaner Production, 2023, 418
dc.identifier.issn	0959-6526
dc.identifier.issn	1879-1786
dc.identifier.uri	http://hdl.handle.net/10453/175878
dc.description.abstract	This study employs the dynamic recursive Computable General Equilibrium (CGE) approach to model Australia's economy. This carbon tax policy is designed based on Australia's economy, starting at A$23/tCO2, increasing over time and imposing uniformly on all industries. This study proposes two carbon tax policies and three revenue recycling approaches, and the prices and GDP variations are estimated during 2020 and 2035. This study confirms introducing a carbon tax policy decreases Australia's carbon emissions and reduces real consumption and GDP if it is not accompanied by a revenue recycling policy. But following a revenue-neutral policy and redirecting the carbon tax revenue into the economy through reducing income taxes and investing in research and development (R&D) projects leads to economic growth. This study confirms the implementation of a carbon tax associated with a suitable revenue recycling approach benefits Australia both economically and environmentally.
dc.language	English
dc.publisher	ELSEVIER SCI LTD
dc.relation.ispartof	Journal of Cleaner Production
dc.relation.isbasedon	10.1016/j.jclepro.2023.138187
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.subject	0907 Environmental Engineering, 0910 Manufacturing Engineering, 0915 Interdisciplinary Engineering
dc.subject.classification	Environmental Sciences
dc.subject.classification	33 Built environment and design
dc.subject.classification	40 Engineering
dc.title	Carbon tax accompanied by a revenue recycling increases Australia's GDP: A dynamic recursive CGE approach
dc.type	Journal Article
utslib.citation.volume	418
utslib.for	0907 Environmental Engineering
utslib.for	0910 Manufacturing Engineering
utslib.for	0915 Interdisciplinary Engineering
pubs.organisational-group	University of Technology Sydney
pubs.organisational-group	University of Technology Sydney/Faculty of Business
utslib.copyright.status	embargoed	*
utslib.copyright.embargo	2025-09-01T00:00:00+1000Z
dc.date.updated	2024-02-26T02:40:11Z
pubs.publication-status	Published
pubs.volume	418

Abstract:

This study employs the dynamic recursive Computable General Equilibrium (CGE) approach to model Australia's economy. This carbon tax policy is designed based on Australia's economy, starting at A$23/tCO2, increasing over time and imposing uniformly on all industries. This study proposes two carbon tax policies and three revenue recycling approaches, and the prices and GDP variations are estimated during 2020 and 2035. This study confirms introducing a carbon tax policy decreases Australia's carbon emissions and reduces real consumption and GDP if it is not accompanied by a revenue recycling policy. But following a revenue-neutral policy and redirecting the carbon tax revenue into the economy through reducing income taxes and investing in research and development (R&D) projects leads to economic growth. This study confirms the implementation of a carbon tax associated with a suitable revenue recycling approach benefits Australia both economically and environmentally.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/175878