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that CO2-emissions are responsible for a major part of the anthropogenic greenhouse effect, emission trading has been … introduced in the EU in 2005. Under the European emissions trading scheme (ETS), the emission quantities of major industry …. Although the effects of emission trading on emissions, industry structure and investment had been analysed on beforehand by a …
Persistent link: https://www.econbiz.de/10010425878
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We study the optimality of taxing capital income according to a Rate-of-Return Allowance proposed by the Mirrlees Review. In a mean-variance framework the optimal tax on risk-free returns is zero with constant returns to scale in private investment, but positive with decreasing returns to scale,...
Persistent link: https://www.econbiz.de/10012962987
We study the optimal taxation of risk-free and excess capital income with heterogeneous rates of return, alongside an optimal nonlinear earnings tax. Households can hold three assets: one risk-free, one risky but diversifiable, and one a private investment with idiosyncratic risk whose expected...
Persistent link: https://www.econbiz.de/10013238194
We study the optimality of taxing capital income according to a Rate-of-Return Allowance proposed by the Mirrlees Review. In a mean-variance framework the optimal tax on risk-free returns is zero with constant returns to scale in private investment, but positive with decreasing returns to scale,...
Persistent link: https://www.econbiz.de/10011588034
We study the optimal taxation of risk-free and excess capital income with heterogeneous rates of return, alongside an optimal nonlinear earnings tax. Households can hold three assets: one risk-free, one risky but diversifiable, and one a private investment with idiosyncratic risk whose expected...
Persistent link: https://www.econbiz.de/10012487914
Carbon pricing regulates emission flows and collects rents from underlying fossil resource stocks. The resulting investment shift implies lower climate policy costs and improved welfare if capital is underaccumulated. We prove that under emission trading, such a beneficial macroeconomic...
Persistent link: https://www.econbiz.de/10013029498
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