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We analyze a repeated game in which countries are polluting as well as investing in technologies. While folk theorems point out that the first best can be sustained as a subgame-perfect equilibrium when the players are sufficiently patient, we derive the second best equilibrium when they are...
Persistent link: https://www.econbiz.de/10011350155
According to the model of HOEL (1991), a unilateral emissions abatement of a global pollutant leads to lower aggregated emissions in a game with a simultaneous decision protocol. Our experiment tests the Hoel model and examines the question of whether a leader can induce additional abatement of...
Persistent link: https://www.econbiz.de/10011402574
The loss of international competitiveness of domestic industries remains a key obstacle to the implementation of effective carbon prices in a world without harmonized climate policies. We analyze countries' non-cooperative choices of emissions taxes under imperfect competition and mobile...
Persistent link: https://www.econbiz.de/10011987961
We explore the possibility of achieving a cooperative outcome when governments act non-cooperatively in a strategic environmental policy model where emission permit markets are linked. We introduce a specific distribution scheme of the permit revenues between the exporting countries so as to...
Persistent link: https://www.econbiz.de/10012418620
We characterize the optimal policy and policy instruments for self-enforcing treaties when countries invest in green technology before they pollute. If the discount factor is too small to support the first best, then both emissions and investments will be larger than in the first best, when...
Persistent link: https://www.econbiz.de/10012257828
The second-generation GSM spectrum auction in Germany is probably the most clear cut example of a low price outcome in …
Persistent link: https://www.econbiz.de/10011399147
The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more …
Persistent link: https://www.econbiz.de/10011400807
Tradable black (CO2) and green (renewables) quotas gain in popularity and stringency within climate policies of many OECD countries. The overlapping regulation through both instruments, however, may have important adverse economic implications. Based on stylized theoretical analysis and...
Persistent link: https://www.econbiz.de/10003897546
Germany aims to phase out coal to achieve its 2030 climate target, for which a UK-style carbon price floor is …
Persistent link: https://www.econbiz.de/10011955634
Due to the complexity of employment protection legislation (EPL) in Germany, there is notable uncertainty about the …
Persistent link: https://www.econbiz.de/10003297598