Showing 1 - 10 of 43
Persistent link: https://www.econbiz.de/10009738797
Persistent link: https://www.econbiz.de/10011415884
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
Persistent link: https://www.econbiz.de/10011288632
Optimal climate policy is studied in a Ramsey growth model with exhaustible oil reserves, an infinitelyelastic supply of renewables, stock-dependent oil extraction costs and convex climate damages. Weconcentrate on economies with an initial capital stock below that of the steady state of the...
Persistent link: https://www.econbiz.de/10011380023
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
Persistent link: https://www.econbiz.de/10011503330
The nature of oil demand influences the oil extraction rate and hence has implications for both the timing of oil exhaustion and optimal climate policy. We analyse what role oil demand specification plays in strategic interactions b between an oil-importing country producing final goods and...
Persistent link: https://www.econbiz.de/10010424787
A rapidly rising carbon tax leads to faster extraction of fossil fuels and accelerates global warming. We analyze how general equilibrium effects operating through the international capital market affect this Green Paradox. In a two-region, two-period world with identical homothetic preferences...
Persistent link: https://www.econbiz.de/10010412300
Green tax reform is unpopular because, typically, the poor are hurt most by the higher prices of carbon-intensive commodities. If revenues from a carbon tax are recycled, it may be feasible to gain popular support for green tax reform. To investigate this, we estimate an EASI demand system from...
Persistent link: https://www.econbiz.de/10012668336