Policy Briefs
Carbon taxation and inflation: Evidence from Europe and Canada
Model-based studies on the effect of carbon taxation point to sizeable inflationary effects. This column uses evidence from Canada and Europe over the past three decades to show that carbon taxes changed relative prices but did not increase the overall price level. Instead, they were slightly deflationary. Income compression was most pronounced among the richest households, suggesting that the redistribution scheme achieved its intended aim of favouring low-income households.
Redesigning debt: Lessons from HIPC for COVID, climate and nature (IIED)
Focusing on lessons from the Heavily Indebted Poor Countries (HIPC) Initiative, established 25 years ago by the World Bank and IMF, this paper proposes a new international debt relief initiative, which prioritises investment in climate and nature, to get developing countries’ economies back on track post-pandemic.
How to Manage Public Investment during a Postcrisis Recovery (IMF)
This How to Note discusses how countries should manage public investments to recover from the COVID-19 pandemic and similar crises. It provides countries with guidance on making efficient use of public investment to support economic recovery on three different capacity levels: basic, medium, and advanced.
Discussion paper on governmental carbon-pricing (UNEPFI)
The UN-convened Net-Zero Asset Owner Alliance recommends strengthening of current carbon-pricing instruments and regulations across global economy. Explicit mechanisms for escalating binding carbon-price floor and ceiling are detailed in this
COVID-19 pandemic: Towards a blue recovery in small island developing states (OECD)
This policy brief: (i) highlights the impacts of the coronavirus (COVID-19) pandemic across SIDS; (ii) provides an overview of the support delivered by development co-operation providers to face the crisis; and (iii) provides suggestions to ensure that international support can lead to a fast and sustainable recovery in SIDS: a ‘blue’ recovery.
Tax Policy and Climate Change: IMF/OECD Report for the G20
This report focuses on carbon pricing, taking stock of current pricing patterns, identifying reform needs to meet mitigation pledges, impacts, and opportunities, and comprehensive approaches to address political economy concerns.
