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Modeling of the Impacts of Revenue from Emission Allowances Trading on Selected Macroeconomic Indicators in the Czech Republic

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Daniela S.

Littera Scripta

2014

vol. 2

34-46

The aim of this paper is to create and in terms of the Czech Republic also to apply a simultaneous model for determination of macroeconomic impacts of the trading of emission allowances. Another aim is to determine its adequateness of application both from econometric and economic point of view, or alternatively to define its limits and restrictions. At first, prerequisites and characteristics of the model are defined. The application of the model in terms of the Czech Republic is performed next followed by economic and econometric verification. The conclusion of the paper contains evaluation of the impacts of the changes in revenue from allowances on select basic macroeconomic indicators, as for instance inflation, unemployment, government purchases or net export. In case revenue from trading of emission allowances in the Czech Republic rise by 1 billion CZK, unemployment falls by 0.15 % and the government expenses will increase by approximately 1.032 billion CZK and net export will increase as well, but only by 194 million CZK. Regarding inflation, the result of simultaneous model or the paired regression is the fact that revenue from allowances and inflation are independent on each other.

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1 Littera Scripta

1 Daniela S.

1 2014

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Modeling of the Impacts of Revenue from Emission Allowances Trading on Selected Macroeconomic Indicators in the Czech Republic