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Growth and Welfare Losses from Carbon Emissions Restrictions: A General Equilibrium Analysis for Egypt

Abstract:
This paper assesses the economic effects of carbon emission restrictions in Egypt.Like other studies, it is an exemplification of some of the economic possibilitiesunder various conditions. However, it extends the domain of possibilities andsuggests some issues that have not been considered in other studies.It is demonstrated clearly that, while annual emissions constraints have only a modest effect on long-run economic growth rates, they have substantial effect on the achieved levels of GDP and welfare. These results do not change much, even with backstop and unconventional technologies or change in discounting. However, postponing the imposition of constraints does have a significant effect, as does changing the form of the constraints to one based on accumulated emissions.

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Energy Specializations: Energy and the Environment – Climate Change and Greenhouse Gases

JEL Codes:
Q54 - Climate; Natural Disasters and Their Management; Global Warming

Keywords: Carbon emissions, GE analysis, Egypt, GDP, welfare

DOI: 10.5547/ISSN0195-6574-EJ-Vol14-No1-3


Published in Volume 14, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.