Rozenberg, Julie; Vogt-Schilb, Adrien; Hallegatte, Stephane - In: Review of Environment, Energy and Economics - Re3 (2013) November
Policymakers have good reasons to favor capital-based policies - such as CAFE standards or feebates programs - over a carbon price. A carbon price minimizes the discounted cost of a climate policy, but may result in existing capital being under-utilized or scrapped before its scheduled lifetime,...