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Prices and taxes in a Ramsey climate policy model under heterogeneous beliefs and ambiguity

Von zur Mühlen, Peter - In: Economies : open access journal 10 (2022) 10, pp. 1-56

In a Ramsey policy regime, heterogeneity in beliefs about the potential costs of climate change is shown to produce policy ambiguities that alter carbon prices and taxation. Three sources of ambiguity are considered: (i) the private sector is skeptical, with beliefs that are unknown to the...

Persistent link: https://www.econbiz.de/10013498952

Provision of a public good with altruistic overlapping generations and many tribes

Karp, Larry S. - 2012

Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate protection may depend more sensitively on either of these considerations, depending on the type of policy rule one examines. This conclusion is based on...

Persistent link: https://www.econbiz.de/10009571754

Cleaner Technologies and the Stability of International Environmental Agreements

Benchekroun, Hassan - 2012

This paper shows that, if countries are farsighted when deciding whether to defect from a coalition, then the implementation of cleaner technologies may jeopardize the chances of reaching an international environmental agreement. The grand coalition may be destabilized by the implementation of...

Persistent link: https://www.econbiz.de/10013104564

A Strategic Analysis of Global Warming : Theory and Some Numbers

Radner, Roy; Dutta, Prajit K. - 2005

We model the global warming process as a dynamic commons game in which the players are countries, their actions at each date produce emissions of greenhouse gases, and the state variable is the current stock of greenhouse gases. The theoretical analysis is complemented by a calibration exercise....

Persistent link: https://www.econbiz.de/10014061839

Riskiness, risk aversion, and risk sharing: cooperation in a dynamic insurance game

Laczó, Sarolta (contributor) - 2008

This paper examines how cooperation in an insurance game depends on risk preferences and the riskiness of income. It considers a dynamic game where commitment is limited, and characterizes the level of cooperation as measured by the reciprocal of the discount factor above which perfect risk...

Persistent link: https://www.econbiz.de/10003770693

A Dynamic Game of Emissions Pollution with Uncertainty and Learning

Masoudi, Nahid - 2014

We introduce learning in a dynamic game of international pollution, with ecological uncertainty. We characterize and … ecological uncertainty but they gain information (learn) about it. We then compare our learning model with the benchmark model of … full information, where players know the distribution of ecological uncertainty. We find that uncertainty due to …

Persistent link: https://www.econbiz.de/10013050176

Unilateral reduction of medium-term carbon emissions via taxing emissions and consumption

Eichner, Thomas; Pethig, Rüdiger - 2011

Internalizing the global negative externality of carbon emissions requires flattening the extraction path of non-renewable fossil-fuel resources (= world carbon emissions). Following Eichner and Pethig (2011b) we set up a two-country two-period model in which one of the countries represents a...

Persistent link: https://www.econbiz.de/10009489809

Second-best renewable subsidies to de-carbonize the economy : commitment and the green paradox

Rezai, Armon; Ploeg, Frederick van der - 2016 - Revised January 2016

Climate change must deal with two market failures: global warming and learning by doing in renewable use. The first-best policy consists of an aggressive renewables subsidy in the near term and a gradually rising and falling carbon tax. Given that global carbon taxes remain elusive, policy...

Persistent link: https://www.econbiz.de/10011417667

Stranded assets, the social cost of carbon, and directed technical change : macroeconomic dynamics of optimal climate policy

Ploeg, Frederick van der; Rezai, Armon - 2016 - September 2014, revised February 2016

The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for stock-dependent fossil fuel extraction costs and partial exhaustion of fossil fuel reserves, a negative impact of global warming on growth, mean reversion in climate damages,...

Persistent link: https://www.econbiz.de/10011434598

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 …

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

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