{"type":"script","doc_desc":{"producers":[{"name":"Reyes Retana","abbr":"MRR","affiliation":"World Bank","role":"Junior Data Scientist"}],"prod_date":"2023-10-26","version":"1"},"project_desc":{"title_statement":{"title":"Reproducibility package for A Climate-Fiscal Policy Mix to Achieve T\u00fcrkiye\u2019s Net-Zero Ambition under Feasibility Constraints","idno":"RR_TUR_2023_09-v01"},"authoring_entity":[{"name":"Christian Schoder","affiliation":"World Bank","email":"cschoder@worldbank.org"},{"affiliation":"World Bank","name":"Remzi Baris Tercioglu","email":"rtercioglu@worldbank.org"}],"acknowledgment_statement":"We would like to thank J\u00b4anos Varga, Charl Jooste, and Florent McIsaac for valuable comments and suggestions.","production_date":"2023-08","geographic_units":[{"name":"Turkey","code":"TUR","type":"Country"}],"keywords":[{"name":"Climate-fiscal policy"},{"name":"net-zero pathway"},{"name":"low-carbon transition"},{"name":"Bayesian estimation"},{"name":"T\u00fcrkiye"}],"themes":[{"id":"Q43","parent_id":"Q4","uri":"https:\/\/www.aeaweb.org\/econlit\/jelCodes.php?view=jel","vocabulary":"JEL Classifications","name":"Energy and the Macroeconomy"},{"id":"Q48","parent_id":"Q4","uri":"https:\/\/www.aeaweb.org\/econlit\/jelCodes.php?view=jel","vocabulary":"JEL Classifications","name":"Government Policy"}],"abstract":"This paper employs an estimated dynamic stochastic open-economy macro framework to identify policy interventions that allow T\u00fcrkiye 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.","output":[{"type":"Working Paper","title":"A Climate-Fiscal Policy Mix to Achieve T\u00fcrkiye\u2019s Net-Zero Ambition under Feasibility Constraints","description":"Policy Research Working Paper (PRWP) 10551","uri":"http:\/\/documents.worldbank.org\/curated\/en\/099828108232316053\/IDU0d36718f40735104cfe099c60ab1d82b051da","doi":"https:\/\/doi.org\/10.1596\/1813-9450-10551","abstract":"Christian Schoder, Remzi Baris Tercioglu"}],"language":[{"name":"English","code":"EN"}],"data_statement":"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.\nFor comprehensive details on the datasets used\u2014including a list of variables and their sources\u2014you 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.","datasets":[{"name":"OECD, Main Economic Indicators - complete database consulted retrieved from FRED","note":"All the variables from the Organization for Economic Co-operation and Development through FRED used in this paper can be found in data\/Turkey_data.xls","access_type":"Published with package in data\/Turkey_data.Rmd","uri":"https:\/\/fred.stlouisfed.org\/series\/"},{"name":" Eurostat retrieved from FRED","uri":"https:\/\/fred.stlouisfed.org\/series\/","note":"All the variables from Eurostat retrieved through FRED used in this paper can be found in data\/Turkey_data.xls","access_type":"Published with package in data\/Turkey_data.Rmd"},{"name":"International Monetary Fund retrieved from FRED","note":"International Monetary Fund, Interest Rates, Discount Rate for Turkey [INTDSRTRM193N], retrieved from FRED, Federal Reserve Bank of St. Louis; ","uri":"https:\/\/fred.stlouisfed.org\/series\/INTDSRTRM193N","access_type":"Published with package in data\/Turkey_data.Rmd"},{"uri":"https:\/\/fred.stlouisfed.org\/series\/RBTRBIS","name":"Bank for International Settlements retrieved from FRED","access_type":"Published with package in data\/Turkey_data.Rmd","note":"Bank for International Settlements, Real Broad Effective Exchange Rate for Turkey [RBTRBIS], retrieved from FRED, Federal Reserve Bank of St. Louis;"},{"name":"Eurostat","uri":"https:\/\/ec.europa.eu\/eurostat\/databrowser\/","access_type":"Published with package in data\/Turkey_data.Rmd","note":"The variables used from this source are EU GDP per capita; EU Export Price Deflator; EU GDP deflator\n"},{"name":"International Energy Agency - Energy Prices ","note":"Source: IEA (2022) Energy Prices \u2013 August 2023. All rights reserved.\nVariables used in the analysis are as follows:\nIEA: Average gas and oil producer price in OECD (unit: 2015 USD per MWh)\nIEA: Weighted average of coal, gas, and oil prices for consumers (unit: national currency per MWh)\nIEA: Weighted average of coal, gas, and oil prices for producers (unit: national currency per MWh)\n","uri":"https:\/\/www.iea.org\/data-and-statistics\/data-product\/oecd-energy-prices-and-taxes-quarterly","access_type":"Published with package in data\/Turkey_data.Rmd","license_uri":"https:\/\/www.iea.org\/terms\/terms-of-use-for-non-cc-material"},{"name":"International Energy Agency - World Energy Balances","note":"Source: IEA (2022) World Energy Balances \u2013 August 2023. All rights reserved.\nVariables used in the analysis are as follows:\nIEA: total final firm (industry+transportation) energy consumption (PJ) \nIEA: total final household (residental+public) energy consumption (PJ)\nIEA: total renewable energy supply (PJ)\nIEA: total renewable energy supply (PJ)\n\n\n\n","license_uri":"https:\/\/www.iea.org\/terms\/terms-of-use-for-non-cc-material","uri":"https:\/\/www.iea.org\/reports\/world-energy-balances-overview","access_type":"Published with package in data\/Turkey_data.Rmd"},{"name":"Turkish Ministry of Treasury and Finance - Public Net Debt Stock","uri":"https:\/\/en.hmb.gov.tr\/public-finance","access_type":"Published with package in data\/Turkey_data.Rmd"},{"name":"Turkish Statistical Institute","uri":"https:\/\/data.tuik.gov.tr\/","access_type":"Published with package in data\/Turkey_data.Rmd","note":"All the variables from the Turkish Statistical Institute used in this paper can be found in Turkey_data.xls"},{"name":"World Bank - World Development Indicators","uri":"https:\/\/databank.worldbank.org\/reports.aspx?source=2&series=EN.ATM.CO2E.PC&country=","access_type":"Published with package in data\/Turkey_data.Rmd","note":"Indicator used: CO2 emissions"},{"name":"World Input-Output Database ","uri":"https:\/\/www.eea.europa.eu\/data-and-maps\/data-providers-and-partners\/world-input-output-database-wiod","note":"Indicators used: Energy capital stock; Core goods capital stock\n","access_type":"Published with package in data\/Turkey_data.Rmd"}],"contacts":[{"name":"Christian Schoder","email":"cschoder@worldbank.org","affiliation":"World Bank"},{"name":"Reproducibility WBG","affiliation":"World Bank","email":"reproducibility@worldbank.org"}],"software":[{"name":"Matlab","version":"Matlab R2023a"},{"name":"Dynare","version":"5.4"}],"scripts":[{"file_name":"RR_TUR_2023_09-v01.zip","zip_package":"RR_TUR_2023_09-v01.zip","title":"Reproducibility package (data and code) for A Climate-Fiscal Policy Mix to Achieve T\u00fcrkiye\u2019s Net-Zero Ambition under Feasibility Constraints","date":"2023-08","software":"Matlab","dependencies":"Dynare 5.4, Matlab Optimization Toolbox","instructions":"See README in reproducibility package.","notes":"Computational reproducibility verified by Development Impact (DIME) Analytics team, World Bank.","source_code_repo":"Policy Research Working Paper (PRWP)"}],"methods":[{"name":" Bayesian Estimation Strategy"}],"reproduction_instructions":"A README file with detailed instructions is part of the reproducibility package.","technology_environment":"\u2022 OS: Windows 10 Enterprise, version 21H2\n\u2022 Processor: Intel(R) Xeon(R) Gold 6226R CPU @ 2.90GHz\n\u2022 Memory available: 32 GB\n\u2022 Software version: Matlab R2023a, Dynare 5.4","technology_requirements":"~84 hours","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.","license":[{"name":"Modified BSD3","uri":"https:\/\/opensource.org\/license\/bsd-3-clause\/"}]},"tags":[{"tag":"DOI"}],"schematype":"script"}