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10.1515_jbnst-2024-0078.pdf

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/110011 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/110011 http://eprints.org/relation/ispreviewThumbnailVersionOf https://pure.iiasa.ac.at/id/document/110011 110016 2 333397 document 110016 medium.jpg image/png 90f6b94667af3a19847cbf4eb737b2cf MD5 7558 2025-06-02 07:52:06 https://pure.iiasa.ac.at/id/eprint/20636/4/medium.jpg 20636 4 4 image/png other Thumbnails conversion from text to thumbnail_medium en public

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/110011 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/110011 http://eprints.org/relation/issmallThumbnailVersionOf https://pure.iiasa.ac.at/id/document/110011 110018 1 333401 document 110018 indexcodes.txt text/plain 63d7791b25b5323b1c614ba79ee0540f MD5 18142 2025-06-02 07:52:10 https://pure.iiasa.ac.at/id/eprint/20636/6/indexcodes.txt 20636 6 6 text/plain other Generate index codes conversion from text to indexcodes en public

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/110011 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/110011 http://eprints.org/relation/isIndexCodesVersionOf https://pure.iiasa.ac.at/id/document/110011 archive 353 disk0/00/02/06/36 2025-06-02 07:44:00 2025-06-02 07:44:00 2025-06-02 07:44:00 article show Neves J.P.B. Semmler W. 8946 pub EF climate change; taxation; wealth; portfolio optimization Although economists widely advocate carbon pricing as an effective solution to reduce carbon emissions, this mechanism has had so far limited effects. This paper proposes a new type of tax to help finance (and accelerate) the green transition. A carbon wealth tax (CWT) is proposed to be levied on carbon-intensive (brown) wealth rather than primarily on carbon-intensive goods. We consider tax implementation issues such as tax base, incidence, and efficiency. Moreover, we analyze the impacts of such a tax scheme by setting up a model of asset pricing and dynamic portfolio decisions. Green and carbon-intensive returns used in the model are calibrated with low-frequency returns on stock prices between 2010 and 2021. We find that such a tax and subsidy scheme is a feasible and effective instrument in speeding up the transition to a greener economy, particularly in protracted periods of economic contraction. Our approach also brings a new perspective to the wealth inequality discussions. 2025-05-22 published De Gruyter Brill doi:10.1515/jbnst-2024-0078 2863 public Jahrbücher für Nationalökonomie und Statistik TRUE 0021-4027 no info:eu-repo/semantics/article