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v1_covered_becc5e57-7e1f-4f96-ab7b-1ea7f531e78a.pdf

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/108641 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/108641 http://eprints.org/relation/ismediumThumbnailVersionOf https://pure.iiasa.ac.at/id/document/108641 108652 2 329235 document 108652 small.jpg image/png d794174b4f132fb1317d83918c231813 MD5 1756 2025-01-13 11:03:57 https://pure.iiasa.ac.at/id/eprint/20340/6/small.jpg 20340 6 6 image/png other Thumbnails conversion from text to thumbnail_small en public

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/108641 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/108641 http://eprints.org/relation/issmallThumbnailVersionOf https://pure.iiasa.ac.at/id/document/108641 archive 2 disk0/00/02/03/40 2025-01-13 10:54:11 2025-01-13 12:15:43 2025-01-13 10:54:11 other show 1 Fierro L.E. 9839 0000-0002-4378-1375 Reissl S. Lamperti F. Campiglio E. Drouet L. Emmerling J. Kremer E. Tavoni M. pub ASA EM Although the case for a swift climate transition is clear, its macro-financial viability remains uncertain. To shed light on the macroeconomic and financial response to deep mitigation trajectories controlled by carbon pricing, we integrate a process-based integrated assessment model into a macroeconomic agent-based model. The hybrid framework allows translating energy systems transformations into macro-financial outcomes at business cycle frequency and volatility. The results reveal that rapid transitions induced by fast-growing carbon prices significantly impact unemployment, inflation, and income distribution. Stabilization policies reduce these economic fluctuations, though not completely so in 1.5°C compatible scenarios. Our paper emphasizes the need for coordinating climate and macroeconomic policy during decarbonization. Additionally, it showcases how model integration can lead to a better understanding of the economic implications of low-carbon futures. 2024-09-26 Research Square doi:10.21203/rs.3.rs-5111841/v1 3594 public Research Square FALSE Macro-financial transition risks along mitigation pathways: evidence from a hybrid agent-based integrated assessment model info:eu-repo/semantics/other