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Taking a political economy perspective this paper proposes an alternative carbon abatement policy instrument with significant advantages over existing policy instruments. The key feature of the proposed carbon securities is that they entitle their owners to a fixed proportion of ex ante unknown...
Persistent link: https://www.econbiz.de/10013315931
We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in the damage coefficient. The model allows the full dynamic characterization of the optimal emission policies under uncertainty. The results, that imply prudent behavior due to...
Persistent link: https://www.econbiz.de/10013315940
We analyze a model where firms chose a production technology which, together with some random event, determines the final emission level. We consider the coexistence of two alternative technologies: a "clean" technology, and a "dirty" technology. The environmental regulation is based on taxes...
Persistent link: https://www.econbiz.de/10013317105
This analysis seeks to understand whether changes in oil regulation brought about by the shale revolution have restricted the pace of drilling and production. This hypothesis is tested using data on North Dakota and Montana both before and after North Dakota increased the level of bonding...
Persistent link: https://www.econbiz.de/10012915454
In this study, the real demand for global and local environmental protection in Beijing, China, is elicited and investigated. Participants from Beijing were offered the opportunity to contribute to voluntary climate change mitigation by purchasing permits from two Chinese CO2 emissions trading...
Persistent link: https://www.econbiz.de/10012917519
The transition process in Central and Eastern Europe was associated with growing environmental awareness. This paper analyses the determinants of Pollution Abatement and Control Expenditure (PACE) at plant level in the case of Romania using survey data and a Multilevel Regression Model (MRM)....
Persistent link: https://www.econbiz.de/10013316131
a recession: (i) the lobbying of domestic, non-exporting firms, and (ii) the relationship between vulnerability, the …
Persistent link: https://www.econbiz.de/10013136880
of education complementary to their production. Lobbying is endogenous. We show that, if lobbying is not costly, both … social planner. However, if lobbying is costly, only one sector finds it profitable to offer monetary contribution and direct … resources towards the type of education required by its production. Which sector will engage in lobbying depends on relative …
Persistent link: https://www.econbiz.de/10013125068
partner, the agreement can cause a leakage of protectionist benefits to domestic industry from lobbying against external …
Persistent link: https://www.econbiz.de/10013098332
In this paper we model the commercial lobbying industry (such as the so-called K-Street lobbyists of Washington, D ….C.). In contrast to classical special interest groups commercial lobbying firms are not directly motivated by policy outcomes … level of commercial lobbying services is typically socially inefficient, and characterize the nature of the distortions …
Persistent link: https://www.econbiz.de/10013086414