China's Economic Low-Carbon Transition and Fiscal Policy Optimization——A DSGE Simulation Analysis from the Dual Perspectives of Carbon Reduction and Growth
Climate change presents unprecedented challenges to economic development and social stability.The transition to a low-carbon economy has become a consensus within the international community.It is of profound importance to fully leverage the incentivizing,constraining,guiding,and regulating roles of fiscal policy.This study constructs a Dynamic Stochastic General Equilibrium(DSGE)model to simulate and analyze the dynamic impacts and transmission mechanisms of various fiscal policies on the transition to a low-carbon economy.It explores the selection of fiscal and tax policy tools under the dual objectives of economic growth and carbon emission reduction.The individual policy simulations reveal that energy taxes,carbon taxes,spending on energy conservation and carbon reduction,and subsidies for green enterprises each have their own advantages and disadvantages in promoting both carbon reduction and economic growth.The combined policy simulations indicate that a well-designed mix of fiscal and tax policies can overcome the limitations of single-policy approaches and enhance the overall effectiveness of the low-carbon transition.An optimized combination of carbon taxes,spending on energy conservation and carbon reduction,and subsidies for green enterprises can further improve the quality and efficiency of fiscal policy in empowering the transition to a low-carbon economy.
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