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Inequality, Social Discounting, and Estate Taxation

Farhi, Emmanuel; Werning, Iván - 2005

To what degree should societies allow inequality to be inherited? What role should estate taxation play in shaping the intergenerational transmission of welfare? We explore these questions by modeling altruistically-linked individuals who experience privately observed taste or productivity...

Persistent link: https://www.econbiz.de/10014028082

Introducing CO2 Allowances, Higher Prices for All Consumers; Higher Revenues for Whom?

Gürkan, Gül - 2013

Introducing a ceiling on total carbon dioxide (CO2) emissions and allowing polluting industries to buy and sell permits to meet it (known as a cap-and-trade system) affects investment strategies, generation quantities, and prices in electricity markets. In this paper we analyze these effects...

Persistent link: https://www.econbiz.de/10013085002

Sand in the Wheels or Wheels in the Sand? Tobin Taxes and Market Crashes

Lavicka, Hynek - 2014

The recent crisis revived interest in financial transaction taxes (FTTs) as a means to offset negative risk externalities. However, up-to-date academic research does not provide sufficient insights into the effects of transaction taxes on financial markets as the literature has here-to-fore been...

Persistent link: https://www.econbiz.de/10013056246

Endogenous technological change in power markets

Mier, Mathias; Adelowo, Jacqueline; Azarova, Valeriya - 2022

technological change. We implement divergent learning-by-doing specifications in a multi-region power market model by means of mixed …-integer programming to approximate non-linear investment costs. We consider European learning, regional learning, and three different ways … to depreciate experience stocks within the European learning metric: perfect recall, continuous forgetting, and lifetime …

Persistent link: https://www.econbiz.de/10013272914

The social cost of carbon with intragenerational inequality under economic uncertainty

Ploeg, Frederick van der; Emmerling, Johannes; Groom, … - 2022

A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...

Persistent link: https://www.econbiz.de/10013206181

Prices and Taxes in a Ramsey Climate Policy Model under Heterogeneous Beliefs and Ambiguity

von zur Muehlen, Peter - 2022

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/10014237108

Optimal Climate Policy As If the Transition Matters

Campiglio, Emanuele; Dietz, Simon; Venmans, Frank - 2022

The optimal transition to a low-carbon economy must account for adjustment costs in switching from dirty to clean capital, technological progress, and economic and climatic shocks. We study the low-carbon transition using a dynamic stochastic general equilibrium model with emissions abatement...

Persistent link: https://www.econbiz.de/10014264872

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

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

Taxation of carbon emissions with social and private discount rates

Mier, Mathias; Adelowo, Jacqueline - 2022

Energy system and power market models refrain from distinguishing between private and social discount rates. We devise a strategy to account for diverging private and social discount rates in intertemporal optimization frameworks, resulting in an optimal carbon tax above the marginal damage when...

Persistent link: https://www.econbiz.de/10013329795

Complementary taxation of carbon emissions and local air pollution

Mier, Mathias; Adelowo, Jacqueline; Weissbart, Christoph - 2022

Current decarbonization policies neglect damages from local air pollutants. We analyze the trade-off between complementary taxation of carbon emissions and local air pollution. We quantify results for the European power market until 2050. Taxing only air pollution results in social cost of 5,890...

Persistent link: https://www.econbiz.de/10013329808