Friday, 3 March, 2023

00:01 | For Study Applicants | ONLINE

Admissions open!

Since December 1st till March 31 you can apply to our programs:
Master in Economic Research and PhD in Economics

Entry requirements are:
- BA or MA degree or equivalent
- Proficiency in spoken and written English
- Solid background in mathematics
- Previous education in economics is recommended

Your online application must content following documents:
- Curriculum vitae
- Statement of motivation
- Copies of your diplomas and transcripts
- Proof of English proficiency level
- Contact details for two (or max. three) referees

For more information please see sections: How to apply to MAER or How to apply to PhD
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or see the FAQ sections for MAER or Phd

14:00 | Macro Research Seminar

Stefan Wöhrmüller (University of Amsterdam) "Carbon taxation and precautionary savings"

Stefan Wöhrmüller, MSc.

University of Amsterdam, Netherlands

Join online:  (password 6499)

Abstract: This paper asks how precautionary savings affect the level of the optimal carbon tax. I augment a heterogeneous-agent incomplete-markets model with a climate sector and estimate its structural parameters with indirect inference. As households in the model engage in precautionary saving behavior, it replicates a stylized fact from the data that the marginal propensity to consume pollution-intensive goods decreases with income. Therefore, the carbon tax and the redistribution of its revenue have distributional consequences. When recycling the revenue lump-sum, the optimal carbon tax also serves as an insurance device for the uninsurable idiosyncratic productivity shocks. As a consequence, the optimal tax is higher than what is required to internalize the negative climate externality.