China's carbon emission policy and economic growth from the perspective of DSGE

China's carbon emission policy and economic growth from the perspective of DSGE


Author:ZHAO Yang LI Tianyu JIANG Guogang WANG Liwei Journal: Date:

In order to simulate the fluctuation of the real economy under China's carbon emission policies of different intensity, a DSGE model including carbon emission policies is constructed, which attempts to analyze the impact of carbon emission policies of different intensities on the main macroeconomic variables in China in the face of technological shocks and policy shocks. The results show that the realization of the two goals of carbon emission reduction and maintaining economic growth is contradictory in the short term, and the government's attention to the intensity of carbon emission policies is different, and its impact on macroeconomic variables is also different. Carbon emission policies that are too strong or too weak are not conducive to the long-term sustainable development of China's economy, and moderate carbon emission policies can achieve balanced results.

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