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01485nam a2200181Ia 4500 |
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10.1142-S2010007819500106 |
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220511s2019 CNT 000 0 und d |
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|a 20100078 (ISSN)
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| 245 |
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|a THE ECONOMIC, ENERGY, and EMISSIONS IMPACTS of CLIMATE POLICY in South Korea
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| 260 |
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|b World Scientific Publishing Co. Pte Ltd
|c 2019
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| 856 |
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|z View Fulltext in Publisher
|u https://doi.org/10.1142/S2010007819500106
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|a Using an economy-wide model, we evaluate the impact of policies to meet South Korea's Paris pledge to reduce greenhouse gas (GHG) emissions by 37% relative those under business as usual (BAU) in 2030. Simulated BAU emissions in 2030 are 840.8 million metric tons (Mt) of carbon dioxide equivalent (CO2e), indicating that economy-wide emissions should be constrained to 529.7 MtCO2e. Under South Korea's Emissions Trading System (KETS) and fuel economy standards, a 2030 carbon price of 88/tCO2e is needed to meet this goal. Without considering benefits from avoided climate damages, these policies reduce 2030 GDP by 21.5 billion (1.0%) and consumer welfare by 8.1 billion (0.7%). Declines in sectoral production are largest for fossil-based energy sectors and chemical, rubber and plastic products, and iron and steel sectors. © 2019 The Author(s).
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|a Emissions trading system
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|a fuel economy standard
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|a Paris agreement
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| 700 |
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|a Reilly, J.M.
|e author
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|a Winchester, N.
|e author
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| 773 |
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|t Climate Change Economics
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