The Distributional Costs of Net-Zero: A HANK Perspective | Ghassane Benmir - Grantham Research Institute on climate change and the environment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/events\/the-distributional-costs-of-net-zero-a-hank-perspective-ghassane-benmir\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Distributional Costs of Net-Zero: A HANK Perspective | Ghassane Benmir - Grantham Research Institute on climate change and the environment\" \/>\n<meta property=\"og:description\" content=\"Ghassane Benmir will be discussing the paper 'The Distributional Costs of Net-Zero: A HANK Perspective'. 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{"id":62078,"date":"2022-10-12T09:49:00","date_gmt":"2022-10-12T08:49:00","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=event&p=62078"},"modified":"2024-08-15T09:59:07","modified_gmt":"2024-08-15T08:59:07","slug":"the-distributional-costs-of-net-zero-a-hank-perspective-ghassane-benmir","status":"publish","type":"event","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/events\/the-distributional-costs-of-net-zero-a-hank-perspective-ghassane-benmir\/","title":{"rendered":"The Distributional Costs of Net-Zero: A HANK Perspective | Ghassane Benmir"},"content":{"rendered":"\n

Ghassane Benmir will be discussing the paper ‘The Distributional Costs of Net-Zero: A HANK Perspective’<\/p>\n\n\n\n

Abstract:<\/p>\n\n\n\n

This paper investigates the distributional impacts of implementing the net-zero emissions target in the U.S. for the 2050 horizon. We model a heterogeneous household economy and show that net-zero policy increases consumption and wealth in the long run but induces distributional macroeconomic disparities in the short\/medium run (e.g. by 2035, a 6-10% increase in households facing the borrowing constraint). We then show how distributing revenue from the carbon policy could partially offset consumption losses and smooth the net-zero transition. We also extend our analysis to the case of sticky prices and show how net-zero emissions induces inflationary pressure over the long run, which could represent a challenge for monetary policy conduction in a world with high inflation.<\/p>\n\n\n\n

\n\n\n\n

Grantham Workshops are only open to LSE researchers and alumni. If you wish to attend the workshop in person or online please sign up to our workshop mailing list.<\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"\n