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Optimal Energy Taxes and Subsidies under a Cost-Effective Unilateral Climate Policy : Addressing Carbon Leakage

Kruse-Andersen, Peter - 2019

We analyze how a country pursuing a unilateral climate policy may contribute to a reduction in global CO2 emissions in a cost-effective way. To do so its system of energy taxes and subsidies must account for leakage of emissions from the domestic to the foreign economy. We focus on leakage...

Persistent link: https://www.econbiz.de/10012859989

Optimal Carbon Taxation and Horizontal Equity : A Welfare-Theoretic Approach with Application to German Household Data

Hänsel, Martin C.; Franks, Max; Kalkuhl, Matthias; … - 2021

We develop a model of optimal carbon taxation and redistribution taking into account horizontal equity concerns by considering heterogeneous energy efficiencies. By deriving first- and secondbest rules for policy instruments including carbon taxes, transfers and energy subsidies, we then...

Persistent link: https://www.econbiz.de/10013239565

Optimal Unilateral Carbon Policy

Kortum, Samuel S.; Weisbach, David A. - 2021

We derive the optimal unilateral policy in a general equilibrium model of trade and climate change where one region of the world imposes a climate policy and the rest of the world does not. A climate policy in one region shifts activities—extraction, production, and consumption—in the other...

Persistent link: https://www.econbiz.de/10013314669

Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?

Schnabl, Gunther - 2019

for the future (global savings glut). Low growth is linked to slowing population growth and a declining marginal …, from the perspective of Austrian business cycle theory, interest rates were step by step decreased by central banks to … nihilo and the need of time to produce capital invalidates the IS identity assumed in the Keynesian theory to hold …

Persistent link: https://www.econbiz.de/10012858697

Climate change and carbon tax expectations

Hoel, Michael - 2010

If investors fear that future carbon taxes will be lower than currently announced by policy makers, long-run investments in greenhouse gas mitigation may be smaller than desirable. On the other hand, owners of a non-renewable carbon resource that underestimate future carbon taxes will postpone...

Persistent link: https://www.econbiz.de/10010266081

Pigou meets mirrlees: On the irrelevance of tax distortions for the second-best Pigouvian tax

Jacobs, Bas; de Mooij, Ruud A. - 2011

This paper extends the Mirrlees (1971) model of optimal income redistribution with optimal corrective taxes to internalize consumption externalities. It is demonstrated that the optimal second-best tax on an externality-generating good should not be corrected for the marginal cost of public...

Persistent link: https://www.econbiz.de/10010274870

Efficient CO2 emissions control with national emissions taxes and international emissions trading

Eichner, Thomas; Pethig, Rüdiger - 2007

In a group of countries like the European Union all countries seek to achieve their national CO2 emissions target by a joint emissions trading scheme covering some part of their economies (trading sector) and by a national emissions tax in the rest of their economies (nontrading sector)....

Persistent link: https://www.econbiz.de/10010276207

Optimal carbon tax with a dirty backstop: Oil, coal, or renewables?

van der Ploeg, Frederick; Withagen, Cees A. - 2011

Optimal climate policy is studied. Coal, the abundant resource, contributes more CO2 per unit of energy than the exhaustible resource, oil. We characterize the optimal sequencing oil and coal and departures from the Herfindahl rule. 'Preference reversal' can take place. If coal is very dirty...

Persistent link: https://www.econbiz.de/10010277274

Flattening the carbon extraction path in unilateral cost-effective action

Eichner, Thomas; Pethig, Rüdiger - 2011

Internalizing the global negative externality of carbon emissions requires flattening the extraction path of world fossil energy resources (= world carbon emissions). We consider governments having sign-unconstrained emission taxes at their disposal and seeking to prevent world emissions from...

Persistent link: https://www.econbiz.de/10010277378

Pollution and capital tax competition within a regional block

Hadjiyiannis, Costas; Hatzipanayotou, Panos; Michael, … - 2004

The paper examines the interaction among taxes on factors income, environmental quality and welfare. We construct a two-country regional block model with capital mobility and crossborder pollution. Pollution in the two countries is simultaneously abated by the private sector, in response to a...

Persistent link: https://www.econbiz.de/10010261206

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