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Least-squares estimates of the response of gasoline consumption to a change in the gasoline price are biased toward … zero, given the endogeneity of gasoline prices. A seemingly natural solution to this problem is to instrument for gasoline … prices using gasoline taxes, but this approach tends to yield implausibly large price elasticities. We demonstrate that …
Persistent link: https://www.econbiz.de/10012996430
Our main message is that it is optimal to use less coal and more oil once one takes account of coal being a backstop which emits much more CO2 than oil. The way of achieving this is to have a steeply rising carbon tax during the initial oil-only phase, a less-steeply rising carbon tax during the...
Persistent link: https://www.econbiz.de/10013037776
calculate elasticities and to simulate the effects of alternative pollution control policies such as taxes on gasoline, on … taxes on cars or to taxes on gas or distance. Thus emissions are more affected by taxes on gasoline than by taxes on …
Persistent link: https://www.econbiz.de/10013051268
Environmental protection is one of Europe's key values. The EU has set clear policy objectives to achieve its environmental goals. The EU has favoured market-based instruments, among which fiscal instruments to tackle the climate change problem. This paper takes a policy-making perspective and...
Persistent link: https://www.econbiz.de/10013157842
This paper analyses a set of new scenarios for energy markets in Europe to evaluate the consistency of economic incentives and climate objectives. It focuses in particular on the role of natural gas across a range of climate policy scenarios (including the Copenhagen Pledges and the EU Roadmap)...
Persistent link: https://www.econbiz.de/10013315708
That climate policies are costly is evident and therefore often creates major fears. But the alternative (no action) also has a cost. Mitigation costs and damages incurred depend on what the climate policies are; moreover, they are substitutes. This brings climate policies naturally in the realm...
Persistent link: https://www.econbiz.de/10013315810
The European Union fulfills its emissions reductions commitments by means of an emissions trading scheme covering some part of each member state's economy and by national emissions control in the rest of their economies. The member states also levy energy/emissions taxes overlapping with the...
Persistent link: https://www.econbiz.de/10013316392
This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to EU ETS. We use a dynamic computable general equilibrium model that explicitly allows...
Persistent link: https://www.econbiz.de/10013009840
Following recent court rulings, cross-border loss compensation for multinational firms will likely be introduced, at least in Europe. This paper analyzes the effects of introducing a coordinated cross-border tax relief in a setting where multinational firms choose the size of a risky investment...
Persistent link: https://www.econbiz.de/10013087272
traffic. The tax on fuel is implemented to curb externalities linked to both consumption of fuel and road use. The heavier tax …
Persistent link: https://www.econbiz.de/10012928119