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This paper concerns optimal emissions of greenhouse gases when catastrophic consequences are possible. A numerical model is presented which takes into account both continuous climate-feedback damages as well as the possibility of a catastrophic outcome. The uncertainty in the model concerns...
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Model uncertainty is inherent in the design of optimal environmental policy. We investigate the consequences in a simple linear model, where the aim of the policymaker is to stabilize the carbon content of the atmosphere. We study how decision-makers' concerns about robustness alter policy using...
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Tradable Permits – a Market-Based Allocation System for the Environment. Tradable Permits and Other Environmental Policy Instruments – Killing one Bird with two Stones. Tradable Permits – Ten Key Design Issues. Tradable Permits with Imperfect Monitoring. Emissions Trading with Greenhouse...
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This paper shows in an empirical context that substantial cost reductions can be achieved in the implementation of Dutch national climate policy by (i) targeting the policy at the stock of greenhouse gases, thus allowing polluters flexibility in their timing of emission reductions; and (ii)...
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The relationship between economic growth and pollution is very complex, depending upon a host of different factors …. Thus the study of this phenomenon represents a challenging endeavor. While most economics papers begin with theory and … support that theory with econometric evidence, the literature on Environmental Kuznets Curves has proceeded in the opposite …
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