标题： 鲍莫尔的气候疾病 显示英文标题

标题： Baumol's Climate Disease

摘要： 我们研究了一个具有内生结构变化的动态一般均衡气候-经济模型中的最优碳减排。 通过将投资的生产与消费区分开来，我们表明碳的社会成本可以被视为物质资本的减少。 此外，我们在生产力增长和气候脆弱性方面区分了两个最终部门。 我们理论证明，异质的气候脆弱性会导致巴姆ol的成本疾病的一种气候诱导版本。 此外，如果气候脆弱部门具有高（低）的生产力增长，气候影响可能会缓解（加剧）巴姆ol的成本疾病，要求较少（更多）严格的气候政策。 我们得出结论，碳减排不仅应考虑未定价的气候资本，还应针对巴姆ol的成本和气候疾病进行调整。 显示英文摘要

摘要： We investigate optimal carbon abatement in a dynamic general equilibrium climate-economy model with endogenous structural change. By differentiating the production of investment from consumption, we show that social cost of carbon can be conceived as a reduction in physical capital. In addition, we distinguish two final sectors in terms of productivity growth and climate vulnerability. We theoretically show that heterogeneous climate vulnerability results in a climate-induced version of Baumol's cost disease. Further, if climate-vulnerable sectors have high (low) productivity growth, climate impact can either ameliorate (aggravate) the Baumol's cost disease, call for less (more) stringent climate policy. We conclude that carbon abatement should not only factor in unpriced climate capital, but also be tailored to Baumol's cost and climate diseases.