Abstract
This paper constructs a 4-lier computable general equilibrium model which includes such modules as modeling carbon emission constraints and carbon trading (CT), and incorporates the cost of carbon emissions into constant elasticity of substitute production function. Under scenario settings under different carbon abatement targets, based on 2007 national social accounting matrix and related statistical data about energy consumption and carbon emission, effects on economic outputs, energy consumption, and carbon abatement are estimated and analyzed at both macro and sector level. By calculating selected novel indicators that compromise between macroeconomic opportunity cost and achievable carbon abatement, reasonable carbon price intervals are given for enhancing the robustness and liquidity of carbon market. Further, by decomposition and share-weighted methods, expected carbon abatement and energy price are measured and analyzed in details. Some results are meaningful for fundamental design of the future c...
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