@article{Zhao:103412,
      recid = {103412},
      author = {Zhao, Xiaobing},
      title = {The Impact of CO2 Emission Cuts on Income},
      address = {2011},
      number = {321-2016-10758},
      pages = {18},
      year = {2011},
      abstract = {We study how carbon dioxide (CO2) emission cuts affect  income for 23 OECD countries over the 1980-2004 period. The  importance of this question is manifested in the  disagreements at the 2009 United Nations Climate Change  Conference in Copenhagen and the 2010 State of the Union  Address by United States President Barack Obama. We start  by deriving an income-CO2 relationship based on a  structural production function, which is a natural way to  model the relationship among income, energy consumption,  and CO2 emissions. We then use a similar empirical  methodology as Tucker (1995) to estimate the income-CO2  relationship. Such an approach not only allows us to focus  on the long-run relationship but also enables us to project  the relationship between income and CO2 emissions for  future years. Our findings suggest that the economic cost  of CO2 emission cuts is significant. To reduce emissions  50% below 1990 levels by 2050, the economic cost per year  for developed countries is about 0.3% reduction in GDP per  capita which represents a 15% slowdown in economic growth.},
      url = {http://ageconsearch.umn.edu/record/103412},
      doi = {https://doi.org/10.22004/ag.econ.103412},
}