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Taxes and Quotas for a Stock Pollutant with Multiplicative Uncertainty
Hoel, Michael; Karp, Larry S. - 1999
caused by a stock pollutant. Uncertainty enters multiplicatively, i.e. it affects the slope rather than the intercept of … abatement costs. We calibrate the model using cost and damage estimates of greenhouse gases. As with additive uncertainty, taxes … dominate quotas. The advantage of taxes is much greater with mulitiplicative, compared to additive uncertainty …
Persistent link: https://www.econbiz.de/10014196230
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Taxes Versus Quotas for a Stock Pollutant
Hoel, Michael; Karp, Larry S. - 1998
We compare the effects of taxes and quotas for an environmental problem in which the regulator and polluter have asymmetric information about abatement costs, and the environmental damage depends on the stock of pollution. We thus extend to a dynamic framework previous studies in which...
Persistent link: https://www.econbiz.de/10014213747
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Faustmann and the climate
Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka - 2012
This paper presents an adjusted Faustmann Rule for optimal harvest of a forest in the presence of a social cost of carbon emissions. A contribution of the paper is to do this within theoretical and numerical frameworks that take account of the dynamics and interactions of the forest's multiple...
Persistent link: https://www.econbiz.de/10010330252
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Faustmann and the Climate
Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka - 2012
This paper presents an adjusted Faustmann Rule for optimal harvest of a forest in the presence of a social cost of carbon emissions. A contribution of the paper is to do this within theoretical and numerical frameworks that take account of the dynamics and interactions of the forest's multiple...
Persistent link: https://www.econbiz.de/10011968471
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Optimal harvest age considering multiple carbon pools - a comment
Holtsmark, Bjart; Hoel, Michael; Holtsmark, Katinka - 2012
In two recent papers, Asante and Armstrong (2012) and Asante et al. (2011) considered the question of optimal harvest ages. They found that the larger are the initial pools of dead organic matter (DOM) and wood products, the shorter is the optimal rotation period. In this note, it is found that...
Persistent link: https://www.econbiz.de/10011968474
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Faustmann and the climate
Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka - 2012
This paper presents an adjusted Faustmann Rule for optimal harvest of a forest in the presence of a social cost of carbon emissions. A contribution of the paper is to do this within theoretical and numerical frameworks that take account of the dynamics and interactions of the forest's multiple...
Persistent link: https://www.econbiz.de/10010288462
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Faustmann and the climate
Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka - 2012 - Published Oct 3, 2012 01:08 PM
This paper presents an adjusted Faustmann Rule for optimal harvest of a forest in the presence of a social cost of carbon emissions. A contribution of the paper is to do this within theoretical and numerical frameworks that take account of the dynamics and interactions of the forest's multiple...
Persistent link: https://www.econbiz.de/10009626153
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Faustmann and the climate
Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka - 2012
This paper presents an adjusted Faustmann Rule for optimal harvest of a forest in the presence of a social cost of carbon emissions. A contribution of the paper is to do this within theoretical and numerical frameworks that take account of the dynamics and interactions of the forest's multiple...
Persistent link: https://www.econbiz.de/10009630657
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Faustmann and the Climate
Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka Kristine - 2021
The paper presents an adjusted Faustmann Rule for optimal harvest of a forest when there is a social cost of carbon emissions. The theoretical framework takes account of the dynamics and interactions of forests’ multiple carbon pools and assumes an infinite time horizon. Our paper provides a...
Persistent link: https://www.econbiz.de/10013315853
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Faustmann and the Climate
Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka - CESifo - 2012
The paper presents an adjusted Faustmann Rule for optimal harvest of a forest when there is a social cost of carbon emissions. The theoretical framework takes account of the dynamics and interactions of forests’ multiple carbon pools and assumes an infinite time horizon. Our paper provides a...
Persistent link: https://www.econbiz.de/10010877686