Max Franks
@Max_Franks_
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Senior Scientist @PIK_Climate and @TUBerlin. #carbonpricing, #SDG, #economics, #inequality, #CDR -- this is my private account
Berlin, Germany
Joined March 2018
New work lead by @_MartinHaensel with other colleagues from @PIK_Climate: Germany's gas price brake winter 2022/23 may be "a blueprint for climate policy, where policy makers often struggle with carbon pricing due to its distributional impacts." https://t.co/rDeQgJ82ly
journals.uchicago.edu
Abstract Russia’s invasion of Ukraine has led to unprecedented geopolitical and global economic challenges, including a severe shortfall in energy supply and a substantial increase in energy prices....
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Climate tax on food could cut German agriculture emissions by over 20%, writes the @FinancialTimes Sustainable Views. Including agriculture's environmental costs in food prices would promote sustainable diets and cut emissions, new PIK study finds. ($) https://t.co/Nspwso8Shx
sustainableviews.com
Research by the Potsdam Institute for Climate Impact Research shows how carbon taxes could reduce consumption of emissions-intensive foods such as meat and dairy Germany could reduce its agricultural...
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@S_Stantcheva 8/ 🌍 Curious about the details? Read the full study here: https://t.co/SYncsPIbqh Let’s talk about effective policies for sustainable diets! #ClimateAction #FoodPolicy
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@S_Stantcheva 7/ 🤔 Note: We couldn’t include meat substitutes like soy or seitan in our analysis due to data limitations.
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6/ Cf. @S_Stantcheva's post https://t.co/CILPEWiZAd: Public acceptance possible if it's clearly communicated: 1) approach is effective in reducing GHGs, 2) poorest households are overcompensated on avg and 3) all revenue is returned, strongly limiting costs to each individual.
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5/ 🛒 Price effects at €200/tCO2: Yoghurt & milk: +€0.25/kg Beef, sheep & goat meat: +€4/kg
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4/ 📉 Emission reduction potential: At €30/tCO2, annual emissions fall by just 2 MtCO2eq. At the social cost of carbon (€200/tCO2), emissions drop by a significant 15 MtCO2eq.
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3/ 💶 What is the effect of returning the public revenue as climate dividend? The poorest 20% of households are relieved by 0.14% of their income, i.e., on average they’d be overcompensated, while the better-off face an 0.02% reduction of their income
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2/ 🍽️ We study how a climate fee on food combined with a climate dividendcould help achieve this target in a socially balanced way by encouraging households to choose less CO2-intensive foods—e.g., less red meat and dairy, more vegetables.
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1/ 🐄🌾 Agriculture is responsible for 8% of Germany’s greenhouse gas emissions—about 62 MtCO2eq annually. The government aims to reduce this to 56 MtCO2eq by 2030.
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New research on socially balanced policy for #sustainablediets! Why am I excited about the paper? It’s based on Julian’s Master’s thesis @fu_berlin_vwl, @PIK_Klima, @MCC_Berlin. I’m tremendously proud of this achievement! Here's a 🧵, Full paper:
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New Working Paper "The Economics of Carbon Dioxide Removal: A Governance Perspective" available at CESifo now: https://t.co/W2aiVIVBRp
#CDR
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🆕EU #Klimapolitik: Wie die EU #CO2 Entnahme steuern könnte - Schlüsselrolle könnte eine zu errichtende Europäische Kohlenstoff-Zentralbank spielen, so neue Studie mit PIK Direktor #Edenhofer, @Max_Franks_, @mkalkuhl & Artur Runge Metzger. 👉 https://t.co/n1qDpPt0Ti
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Capital markets provide finance for CO2 emission reductions, quantifying and balancing the returns & risks of investment. But what if this ”asset pricing“ is distorted? A new @MCC_Berlin @PIK_climate study in @JEEM explores implications for investment, and policy responses. 1/8
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Looking forward to presenting our paper ( https://t.co/opV1PjxUfE) on non-permanent CDR @UArizonaEller on Friday.
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My new workplace for the next weeks! Excited to share ideas about CDR policies with people at @uarizona
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📢 Out now 📢 in the January 2024 issue of @JaereAere: "Climate Finance Intermediation: Interest Spread Effects in a Climate Policy Model" by Kai Lessmann and Matthias Kalkuhl (@mkalkuhl) Read it here:
journals.uchicago.edu
Abstract Interest rates are central determinants of saving and investment decisions. Costly financial intermediation distorts these price signals by creating a spread between deposit and loan rates....
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Frei zugänglich auf unserem Blog: #Klimaschutz braucht künftig auch massive #CO2Entnahme. Wie die #EU das schaffen und wie eine #Kohlenstoffzentralbank helfen kann. Von Ottmar #Edenhofer @Max_Franks_ @fvgruner Kai Lessmann @mkalkuhl @MCC_Berlin @PIK_Klima. https://t.co/ON7OG1MDV6
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(8/n) Higher GDP due to land taxes can be desirable, but this depends on the normative standpoint. Hence, we compare different welfare functions and show that already a very moderate level of inequality aversion is enough to make land rent taxes the best policy option.
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