Implementing a double dividend: recycling ecotaxes towards lower labour taxes |
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| Affiliation: | 1. Departament de Teoria Econòmica and CREB, Facultat de Ciències Econòmiques, Universitat de Barcelona, Avinguda Diagonal, Barcelona 690 08034, Spain;2. Departament d’Economia Campus UAB-Edifici B, Universitat Autònoma de Barcelona, Bellaterra 08193, Spain;1. Department of Economics, The College of William and Mary, Williamsburg VA 23187, USA;2. CAPP, Center for Administration and Public Policies, Universidade de Lisboa, Portugal;3. ISCSP, Institute of Social and Political Sciences, Universidade de Lisboa, R. Almerindo Lessa, 1300-663 Lisboa, Portugal;1. Organisation for Economic Co-operation and Development (OECD), Environment Directorate, Paris, France;2. DIW Berlin, Germany;3. SMART-LERECO, AGROCAMPUS OUEST, INRA, 49000, Angers, France;1. College of Environmental Science and Engineering, Peking University, Beijing, 100871, China;2. Centre for Environment & Sustainability, University of Surrey, Guildford, GU2 7XH, UK;3. Key Laboratory for City Cluster Environmental Safety and Green Development of the Ministry of Education, Institute of Environmental and Ecological Engineering, Guangdong University of Technology, Guangzhou, 510006, China;4. School of Economics and Management, Beijing University of Technology, Beijing, 100124, China;5. School of Economics and Finance, Xi''an Jiaotong University, Xi''an, 710061, China |
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| Abstract: | In this paper, we follow the tradition of applied general equilibrium modelling of the Walrasian static variety to study the empirical viability of a double dividend (green, welfare, and employment) in the Spanish economy. We consider a counterfactual scenario in which an ecotax is levied on the intermediate and final use of energy goods. Under a revenue neutral assumption, we evaluate the real income and employment impact of lowering payroll taxes. To appraise to what extent the model structure and behavioural assumptions may influence the results, we perform simulations under a range of alternative model and policy scenarios. We conclude that a double dividend—better environmental quality, as measured by reduced CO2 emissions, and improved levels of employment—may be an achievable goal of economic policy. |
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