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Assessing Short-Term and Long-Term Economic and Environmental Effects of the COVID-19 Crisis in France

Malliet, Paul ; Reynès, Frédéric ; Landa, Gissela ; Hamdi-Cherif, Meriem ; Saussay, Aurélien

Environmental & resource economics, 2020-08, Vol.76 (4), p.867-883 [Revista revisada por pares]

Dordrecht: Springer Netherlands

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Título:
Assessing Short-Term and Long-Term Economic and Environmental Effects of the COVID-19 Crisis in France
Autor: Malliet, Paul ; Reynès, Frédéric ; Landa, Gissela ; Hamdi-Cherif, Meriem ; Saussay, Aurélien
Materias: Ambition ; Carbon ; Carbon dioxide ; Carbon dioxide emissions ; Coronaviruses ; COVID-19 ; Crises ; Crude oil ; Economic conditions ; Economic Policy ; Economic recovery ; Economics ; Economics and Finance ; Emissions ; Energy efficiency ; Energy policy ; Environmental aspects ; Environmental assessment ; Environmental Economics ; Environmental effects ; Environmental impact ; Environmental indicators ; Environmental Law/Policy/Ecojustice ; Environmental Management ; Environmental policy ; Environmental studies ; Environmental tax ; Equilibrium ; Fossil fuels ; Humanities and Social Sciences ; Impact analysis ; Imports ; Long term ; Macroeconomics ; Petroleum ; Prices ; Pricing ; Recovery ; Redistribution ; Tariffs ; Taxation
Es parte de: Environmental & resource economics, 2020-08, Vol.76 (4), p.867-883
Descripción: In response to the COVID-19 health crisis, the French government has imposed drastic lockdown measures for a period of 55 days. This paper provides a quantitative assessment of the economic and environmental impacts of these measures in the short and long term. We use a Computable General Equilibrium model designed to assess environmental and energy policies impacts at the macroeconomic and sectoral levels. We find that the lockdown has led to a significant decrease in economic output of 5% of GDP, but a positive environmental impact with a 6.6% reduction in CO 2 emissions in 2020. Both decreases are temporary: economic and environmental indicators return to their baseline trajectory after a few years. CO 2 emissions even end up significantly higher after the COVID-19 crisis when we account for persistently low oil prices. We then investigate whether implementing carbon pricing can still yield positive macroeconomic dividends in the post-COVID recovery. We find that implementing ambitious carbon pricing speeds up economic recovery while significantly reducing CO 2 emissions. By maintaining high fossil fuel prices, carbon taxation reduces the imports of fossil energy and stimulates energy efficiency investments while the full redistribution of tax proceeds does not hamper the recovery.
Editor: Dordrecht: Springer Netherlands
Idioma: Inglés

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Assessing Short-Term and Long-Term Economic and Environmental Effects of the COVID-19 Crisis in France

Malliet, Paul ; Reynès, Frédéric ; Landa, Gissela ; Hamdi-Cherif, Meriem ; Saussay, Aurélien

Dordrecht: Springer Netherlands

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