Reproducibility package for A Climate-Fiscal Policy Mix to Achieve Türkiye’s Net-Zero Ambition under Feasibility Constraints
Overview
This paper employs an estimated dynamic stochastic open-economy macro framework to identify policy interventions that allow Türkiye to achieve net-zero emissions by 2053 while respecting important feasibility constraints such as fiscal consolidation and sovereign debt stability as well as compensation of low-income households. The policy mix includes a carbon tax, a renewable energy subsidy, transfer payments, public infrastructure investments, a bad bank for stranded fossil fuel assets, and the phase-out of fossil fuel subsidies and public investment. Although the proposed policy package has only moderate effects on gross domestic product, transition risks involve declining exports and fossil asset stranding. The paper highlights the importance of transparent policy communication and a credible commitment to the net-zero agenda to ensure an orderly transition. Improving the rule of law and access to green finance considerably support the private sector-led low-carbon transition.
Reproducibility Package
Reproducibility
• OS: Windows 10 Enterprise, version 21H2
• Processor: Intel(R) Xeon(R) Gold 6226R CPU @ 2.90GHz
• Memory available: 32 GB
• Software version: Matlab R2023a, Dynare 5.4
~84 hours
A README file with detailed instructions is part of the reproducibility package.
Data
The analysis conducted utilizes data that is publicly available, all of which is within the reproducibility package provided (Turkey_data. Rmd). It is important to note, however, that the data originating from the International Energy Agency (IEA) is an exception. While this data is included in the final data frame, it is with the explicit permission of the IEA as it is part of a dataset to which you have to pay to get access.
For comprehensive details on the datasets used—including a list of variables and their sources—you can refer to the README file. Additionally, the file named Turkey_data. Rmd is included in the package; this file aggregates all the raw data sources employed in the study. For further detailed information, please also consult the data/Turkey_data.xls file.
Description
| Author | Affiliation | |
|---|---|---|
| Christian Schoder | World Bank | cschoder@worldbank.org |
| Remzi Baris Tercioglu | World Bank | rtercioglu@worldbank.org |
2023-08
Scope and coverage
| Location | Code |
|---|---|
| Turkey | TUR |
| ID | Name | Parent ID | Vocabulary name | Vocabulary URI |
|---|---|---|---|---|
| Q43 | Energy and the Macroeconomy | Q4 | JEL Classifications | https://www.aeaweb.org/econlit/jelCodes.php?view=jel |
| Q48 | Government Policy | Q4 | JEL Classifications | https://www.aeaweb.org/econlit/jelCodes.php?view=jel |
Disclaimer
The materials in the reproducibility packages are distributed as they were prepared by the staff of the International Bank for Reconstruction and Development/The World Bank. The findings, interpretations, and conclusions expressed in this event do not necessarily reflect the views of the World Bank, the Executive Directors of the World Bank, or the governments they represent. The World Bank does not guarantee the accuracy of the materials included in the reproducibility package.
Access and rights
| Name | URI |
|---|---|
| Modified BSD3 | https://opensource.org/license/bsd-3-clause/ |
Contacts
| Name | Affiliation | |
|---|---|---|
| Christian Schoder | World Bank | cschoder@worldbank.org |
| Reproducibility WBG | World Bank | reproducibility@worldbank.org |
Information on metadata
| Name | Abbreviation | Affiliation | Role |
|---|---|---|---|
| Reyes Retana | MRR | World Bank | Junior Data Scientist |
2023-10-26
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