A fundamental and highly relevant question for climate policy design is whether price controls, such as CO2 taxes, or quantity restrictions, such as emission quotas, should be preferred. This paper shows that as the reach of climate policies is limited either geographically or in terms of...

We consider a global externality of resource use, with the example of greenhouse gas emissions from fossil fuels. A region concerned about climate change may reduce its fuel deposit offer, reduce fuel consumption, and withdraw investments into global fuel extraction. We study leakage rates and...

Future market developments determine the fate of fossil fuel carbon currently conserved unilaterally. Dynamic fuel depletion naturally suggests leakage rates approaching 100%. Reasons for lower leakage differ from what limits rates in previous studies. Discounting reduces present-value leakage...

A carbon tax may be the most efficient means to limit climate change - eventually mankind's largest externality. When discussing the effects of such a tax, today most climate economics research focuses on the demand, reducing the energy supply side to a static process. However, supply side...

In der Schweiz betreibt eine Initiative aktuell ganz konkret einen Volksentscheid mit dem Ziel, ein bedingungsloses Grundeinkommen einzuführen. In Deutschland wird das Konzept lebhaft diskutiert. Allerdings wird seine Wirkung auf Beschäftigung, Besteuerung, Einkommensverteilung und die...

To decarbonize the power sector policy-makers need to commit to long-term credible rules for climate and energy policy. Otherwise, time-inconsistent policy-making will impair investments into low-carbon technologies. However, the future benefits and costs of decarbonization are subject to...

The increase of fuel extraction costs as well as of temperature will make it likely that in the medium-term future technological or political measures against global warming may be implemented. In assessments of a current climate policy the possibility of medium-term future developments like...

We consider a global externality of resource use, with the example of greenhouse gas emissions from fossil fuels. A region concerned about climate change may reduce its fuel deposit offer, reduce fuel consumption, and withdraw investments into global fuel extraction. We study leakage rates and...

To decarbonize the power sector, policy-makers need to commit to long-term credible rules for climate and energy policy. Otherwise, risk of opportunistic policy-making will impair investments into low-carbon technologies. However, the future benefits and costs of decarbonization are subject to...