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Karp, Larry S.; Traeger, Christian - 2021

We introduce a "smart" cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty”). This cap responds endogenously to technology or macroeconomic shocks, relying on the market price of certificates to aggregate information. It allows policy makers to...

Persistent link: https://www.econbiz.de/10012438358

Optimal stabilization in an emission permits market

Gerlagh, Reyer; Wan, Roweno J.R.K - 2018

We develop a 2-period emission trading model for a stock pollutant with demand shocks resolving over time. We find precise conditions for efficiency of a stabilization mechanism where cumulative available permits decrease with excess supply in early periods. Our model describes the stabilization...

Persistent link: https://www.econbiz.de/10011810102

Prices versus quantities reassessed

Karp, Larry S.; Traeger, Christian - 2018

"Prices versus quantities" (Weitzman 1974), a hugely influential paper, is widely cited (and taught) in current debates about the best policy to reduce greenhouse gas emissions. The paper's criterion for ranking policies suggests that technological uncertainty favors taxes over cap and trade....

Persistent link: https://www.econbiz.de/10011927948

Regulating stock externalities

Gerlagh, Reyer; Heijmans, Roweno - 2018

We develop a dynamic regulation game for a stock externality under asymmetric information and future market uncertainty. Within this framework, regulation is characterized as the implementation of a welfare-maximization program conditional on informational constraints. We identify the most...

Persistent link: https://www.econbiz.de/10011939765

De-fueling externalities : causal effects of fuel taxation and mediating mechanisms for delivering climate and health benefits

Basaglia, Pier; Behr, Sophie M.; Drupp, Moritz A. - 2023 - This version: July 2023

reductions in external damages are health beneﬁts, highlighting the importance of accounting for co-pollution impacts of carbon …

Persistent link: https://www.econbiz.de/10014295072

What forces dictate the design of pollution monitoring networks?

Muller, Nicholas Z.; Ruud, Paul Arthur - 2016

The U.S. Environmental Protection Agency (USEPA) maintains networks of pollution monitors for two basic purposes: to … pollution and its effects. These purposes imply conflicting criteria for the locations of a limited number of monitors. To check … the attainment of standards, monitors are placed where pollution levels are highest. Monitors are not required where …

Persistent link: https://www.econbiz.de/10011421576

Wood-based bioenergy

Hoel, Michael; Sletten, Thea Marcelia - 2014

During recent years increased attention has been given to second-generation wood-based bioenergy. The carbon stored in the forest is highest when there is little or no harvest from the forest. Increasing the harvest from a forest, in order to produce more bioenergy, may thus conflict with the...

Persistent link: https://www.econbiz.de/10010256154

Electoral incentives and firm behavior : evidence from U.S. power plant pollution abatement

Doyle, Matthew; Di Maria, Corrado; Lange, Ian; … - 2016

evidence that power plants spend less in water pollution abatement if the governor of the state where the plant is located is a … leads to increased pollution. …

Persistent link: https://www.econbiz.de/10011547829

Modeling damages in climate policy models : temperature-based or carbon-based?

Mason, Charles F.; Wilmot, Neil - 2015

Economists have analyzed potential for damages from climate change from theoretical analyses and with Integrated Assessment Models (IAMs). Analytical models typically write damages as a function of the carbon stock, while IAMs typically view damages as based on temperatures. In this paper, we...

Persistent link: https://www.econbiz.de/10010498597

Charging NOx emitters for health damages : an exploratory analysis

Mauzerall, Denise L.; Sultan, Babar; Kim, Namsoug; … - 2005

We present a proof-of-concept analysis of the measurement of the health damage of ozone (O3) produced from nitrogen oxides (NOx = NO + NO2) emitted by individual large point sources in the eastern United States. We use a regional atmospheric model of the eastern United States, the Comprehensive...

Persistent link: https://www.econbiz.de/10002756341