Journal
ENERGY ECONOMICS
Volume 48, Issue -, Pages 217-229Publisher
ELSEVIER
DOI: 10.1016/j.eneco.2015.01.007
Keywords
CO2 emissions; Marginal Abatement Cost Curve; Model selection; China
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Funding
- National Natural Science Foundation of China [71303213, 41201582]
- Ministry of Education of China [13YJA790015]
- Zhejiang Provincial Natural Science Foundation [LQ12G03013]
- Beijing Natural Science Foundation [9152011]
- Renmin University [13XNJ016]
- Fundamental Research Funds for the Central Universities of China
- Policy Simulation Laboratory of Zhejiang University
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This paper estimates the Marginal Abatement Cost Curve (MACC) of CO2 emissions in China based on a provincial panel for the period of 2001-2010. The provincial marginal abatement cost (MAC) of CO2 emissions is estimated using a parameterized directional output distance function. Four types of model specifications are applied to fit the MAC-carbon intensity pairs. The optimal specification controlling for various covariates is identified econometrically. A scenario simulation of China's 40-45% carbon intensity reduction based on our MACC is illustrated. Our simulation results show that China would incur a 559-623 Yuan/t (roughly 51-57%) increase in marginal abatement cost to achieve a corresponding 40-45% reduction in carbon intensity compared to its 2005 level. (C) 2015 Elsevier B.V. All rights reserved.
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