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Investment policy for time-inconsistent discounters

Harstad, Bård - 2013

This paper explores how a principal with time-inconsistent preferences invests optimally in technology or capital. If the current principal prefers her future self to save more, she can increase current investments complementary to future savings and decrease investments in the strategic...

Persistent link: https://www.econbiz.de/10010223357

Do carbon offsets offset carbon?

Calel, Raphael; Colmer, Jonathan; Dechezleprêtre, Antoine - 2021

We develop and implement a new method for identifying wasted subsidies, and use it to provide systematic evidence on the misallocation of carbon offsets in the Clean Development Mechanism - the world's largest carbon offset program. Using newly constructed data on the locations and...

Persistent link: https://www.econbiz.de/10012650589

Optimal energy taxes and subsidies under a cost-effective unilateral climate policy : addressing carbon leakage

Kruse-Andersen, Peter Kjær; Sørensen, Peter Birch - 2019

We analyze how a country pursuing a unilateral climate policy may contribute to a reduction in global CO2 emissions in a cost-effective way. To do so its system of energy taxes and subsidies must account for leakage of emissions from the domestic to the foreign economy. We focus on leakage...

Persistent link: https://www.econbiz.de/10012118585

Optimal unilateral climate policy with carbon leakage at the extensive and the intensive margin

Kruse-Andersen, Peter Kjær; Sørensen, Peter Birch - 2021

We analyse the optimal design of unilateral climate policy in an open economy where the government is committed to a target for reduction of domestic CO2 emissions but where it is also concerned about carbon leakage. We highlight the importance of distinguishing between leakage at the extensive...

Persistent link: https://www.econbiz.de/10012597667

Externalities in risky resource markets : optimal taxes, leakage and divestment : presented at CESifo Area Conference on Energy and Climate Economics, October 2015

Habermacher, Florian - 2016

uncertain fuel market returns. Without uncertainty, the unilateral investment tax is welfare-neutral: costless but ineffective … divestment. With uncertainty, the regional investment choice affects global fuel usage, and correspondingly the optimal regional … fuel policy contains a investment tax in addition to taxes on deposit supply and consumption. Even absent terms …

Persistent link: https://www.econbiz.de/10011454043

Embedded discounting

Sneum, Daniel Møller; Soysal, Emilie Rosenlund; Nesje, … - 2023

The appraisal of public investments is subject to formal guidelines which often require input prices, such as forecasted energy prices. Using Danish guidelines as a case study, we explore the discounting assumptions in these input prices and find rates ranging from 2.97% to 17.5%, markedly...

Persistent link: https://www.econbiz.de/10014383298

Assessing the effects of climate policy on companies' greenhouse gas emissions

Montoya Gómez, Ana Maria; Zimmer, Markus - 2017 - September 4, 2017

We study the effect of climate policy on companies' greenhouse gas emissions using emissions data for the headquarters and subsidiaries of the world's biggest manufacturing, energy, and utility companies. Our results suggest that financial incentives and legal requirements to audit energy use...

Persistent link: https://www.econbiz.de/10011721629

Evaluating policies to implement the Paris agreement : a toolkit with application to China

Parry, Ian W. H.; Shang, Baoping; Vernon, Nate; … - 2016

This paper describes a model, implemented in an Excel spreadsheet, for evaluating a wide range of fiscal and regulatory instruments policymakers might consider for implementing their Paris mitigation pledges. Policies are evaluated against a range of metrics, including impacts on carbon dioxide...

Persistent link: https://www.econbiz.de/10011547913

The effectiveness of taxing carbon content of energy consumption

Sen, Suphi; Vollebergh, Herman R. J. - 2016

We estimate the long-run effect of a uniform carbon tax on energy consumption by using a new and unique dataset in which effective tax rates of OECD countries are calculated in terms of carbon dioxide emissions. The effective tax rates account for the widely discussed tax deductions for specific...

Persistent link: https://www.econbiz.de/10011509425

How much carbon pricing is in countries' own interests? : the critical role of co-benefits

Parry, Ian W. H.; Veung, Chandara; Heine, Dirk - 2014

This paper calculates, for the top twenty emitting countries, how much pricing of carbon dioxide (CO2) emissions is in their own national interests due to domestic co-benefits. On average, nationally efficient prices are substantial, $ 57.5 per ton of CO2 (for year 2010), reflecting primarily...

Persistent link: https://www.econbiz.de/10010418260

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