The climate challenge requires ambitious climate policy. A sudden increase in carbon prices can lead to major shocks to the stock market. Some assets will lose part of their value, others all of it, and hence become "stranded". If the markets are not ready to absorb the shock, a financial crisis...

China has gradually recognized that the conventional path of encouraging economic growth at the expense of the environment cannot be sustained. It has to be changed. This article focuses on China's efforts towards energy conservation and environmental quality. The article discusses a variety of...

I study the impact of subsidies for Plug-in hybrid vehicles (PHEV) on carbon emissions. I show that subsidizing innovations without considering consumer behavior can harm the environment. I provide descriptive evidence on charging instances of PHEV and combine it with a structural model of...

The climate challenge requires ambitious climate policy. A sudden increase in carbon prices can lead to major shocks to the stock market. Some assets will lose part of their value, others all of it, and hence become "stranded". If the markets are not ready to absorb the shock, a financial crisis...

Oates and Schwab (1988) consider an economy with mobil capital and jurisdictions that suffer from local pollution. They show that welfare-maximizing jurisdictions implement the first-best, if they take prices as given and have at their disposal a capital tax and an environmental standard....

Under capital tax competition, surprisingly, Ogawa and Wildasin (2009, American Economic Review, 99(4), 1206-1217) find that uncoordinated policymaking leads to a first-best outcome even in the presence of transboundary pollution.However, I show that if the level of environmental regulation is...

Global warming which is caused by Greenhouse effect due to carbonization - emission of carbon gas - has contributed to climate change that produces extreme weather. These pollutions have damaged the earth and threatening human lives. Thus, to keep the earth a safe place for people to live in...

Economists recommend Pigouvian taxes as the most efficient way to fight climate change. Yet, carbon taxes are difficult to implement politically. To understand why, we study Washington State's two failed carbon tax referendums from 2016 and 2018—the first such votes in the United States. We...

The paper analyses the current system of environmental taxation and environmental expenditure in Ukraine, identifies issues in the way environmental tax policy is currently designed and implemented and highlights main areas where environmental taxation and expenditure could be improved. It uses...

By using estimates from an Almost Ideal Demand System (AIDS), we investigate how the German energy tax on car fuels changes the private households-CO2 emissions, living standards, and post-tax income distribution. Our results show that the tax implies a trade-off between the aim to reduce...