Showing 1 - 10 of 456
reductions in external damages are health benefits, highlighting the importance of accounting for co-pollution impacts of carbon … to reduce climate and health externalities. …
Persistent link: https://www.econbiz.de/10014295072
We study how public policies affects an economy where production emits pollutants and investment in productive assets raises the economy’s overall productivity. We explore two hypotheses about how the accumulation of pollutants affects human well-being. Under the first one, there is no limit...
Persistent link: https://www.econbiz.de/10012803772
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
Persistent link: https://www.econbiz.de/10003395362
federation, we show that vertical fiscal externalities can be the major determinant of the welfare change following environmental … externalities - state governments can reduce greenhouse gas emissions by over 20 percent without any net cost to themselves. …
Persistent link: https://www.econbiz.de/10010434060
Climate policy needs to set incentives for actors who face imperfect, distorted markets and large uncertainties about the costs and benefits of abatement. Investors price uncertain assets according to their expected return and risk (carbon beta). We study carbon pricing and financial incentives...
Persistent link: https://www.econbiz.de/10012607579
Aiming to reduce the number of brown (polluting) cars on the road, several countries currently promote the purchase and use of green (emission-free) cars through financial and non-financial incentives. We study how such incentives affect consumers who continue to drive brown cars. Using a simple...
Persistent link: https://www.econbiz.de/10012026368
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
The paper studies the effect of public transport policies on urban pollution. It uses a quantitative equilibrium model … with residential choice and mode choice. Pollution comes from commuting and residential energy use. The model parameters … transport coupled with increasing transit speed affects the equilibrium. In the baseline simulation, total pollution falls by 0 …
Persistent link: https://www.econbiz.de/10011717025
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