|Publication type:||Conference paper|
|Type of review:||No review|
|Title:||How do firms respond to a rising carbon tax?|
|Conference details:||25th EAERE Annual Conference, online, 23 June - 3 July 2020|
|Subjects:||Carbon tax; Energy consumption; Emission; Firm behavior|
|Subject (DDC):||330: Economics|
|Abstract:||We empirically study how firms respond to the introduction of a gradually increasing carbon tax. The Swiss context offers a unique opportunity to observe the reaction of firms who were exposed to a carbon tax that increased by 400% between 2008-2015. Using firms -level panel data, we find that the tax leads to significant reductions in energy consumption and carbon emissions by up to 8%. Our results are consistent with a series of tax elasticity estimates ranging between -0.1 and -0.23 for the consumption of light oil and -0.08 and -0.13 for natural gas. Further, we show that while plants in the industry sector start to substitute light oil with natural gas and systematically cut back on the consumption of light oil, firms in the service sector consume significantly less of both fossil fuels.|
|Fulltext version:||Published version|
|License (according to publishing contract):||Licence according to publishing contract|
|Departement:||School of Management and Law|
|Organisational Unit:||Center for Economic Policy (FWP) |
Center for Energy and Environment (CEE)
|Appears in collections:||Publikationen School of Management and Law|
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